Russia Draws Firm Line on Digital Assets, Keeping Crypto Out of Domestic Paym...
Russia has reiterated its firm stance on crypto, drawing a clear distinction between digital assets and traditional currency. While global debate continues over whether crypto can coexist with national currencies, Russian lawmakers are reinforcing a long-held view. Related Reading: Bitcoin ‘Death Cross’ Panic Returns: History Says It’s A Late Signal Inside the country, payments remain the sole domain of the ruble. The position comes as crypto usage grows worldwide and as Russia experiments with alternative settlement tools for cross-border trade under pressure from sanctions. At the center....
Related News
Digital financial assets like cryptocurrencies can help Russia to reach the global financial market despite western sanctions, a lawmaker working on crypto regulations has stated. The official believes the country is capable of setting up domestic crypto exchanges and should support mining. Russia Can Establish Own Cryptocurrency Exchanges, Deputy Insists The crypto space is an area where it’s difficult to impose restrictions on Russia, a member of the State Duma, the lower house of Russian parliament, has recently pointed out. Speaking to Parlamentskaya Gazeta, Alexander Yakubovsky....
With sanctions cutting off Russia from global finances, Moscow’s motivation to establish a domestic market infrastructure for digital assets grows, a top official at the Russian finance ministry has noted. The comment comes as Russians are losing access to foreign crypto platforms.
Russia Recognizes Need for Local Crypto Assets Market
Amid expanding international sanctions over the invasion of Ukraine, Russia has been turning its attention to cryptocurrencies while concerns in the West are growing that the country may use them to circumvent financial restrictions. The....
Cryptocurrencies can be used in cross-border or international payments only if they don’t get into Russia’s domestic financial system, the Bank of Russia governor said. Russia’s central bank governor Elvira Nabiullina is the latest official to confirm that the country is warming to the idea of cryptocurrency payments, but not domestic ones.According to Nabiullina, cryptocurrencies can be used in cross-border or international payments only if they don’t get into Russia’s domestic financial system.The digital currency should not be used as payment on platforms inside Russia, the Bank of....
Russia’s crypto payment rumor mill just got another hard “no.” Anatoly Aksakov, the chairman of the State Duma Committee on Financial Markets, said cryptocurrencies “will never” function as money inside Russia — and that if you’re paying for something domestically, it’s rubles or nothing. “It must be understood that cryptocurrencies will never become money within […]
Russia’s central bank intends to prohibit mutual funds from acquiring crypto assets or related financial instruments. The proposal, which is in line with its hard line stance on decentralized digital money, comes after the regulator urged stock exchanges to avoid trading securities tied to cryptocurrencies.
Central Bank of Russia Issues Draft Directive Banning Crypto Investments for Mutual Funds
The Central Bank of the Russian Federation (CBR) is taking steps to prevent mutual investment funds from putting money into digital currencies such as bitcoin. The restrictions....