Latest Bitcoin in Russia

Latest Bitcoin in Russia

Bank of Russia Sees No Place for Crypto in Financial Market, Finalizes Digital Ruble Prototype
Bank of Russia to Issue Report on Cryptocurrency
Known for maintaining a hardline stance on the question of legalizing cryptocurrencies, the Central Bank of Russia (CBR) is now preparing a report that will provide its view on the matter in detail. The regulator intends to push for adopting rules to govern the circulation of digital assets through legislative changes, Deputy Chairman Vladimir Chistyukhin revealed in comments to Russian media.

“I think that we will resolve the issue through amendments to the legislation. There will be a more precise definition of how cryptocurrencies can be traded,” Chistyukhin said speaking to reporters in the State Duma, the lower house of parliament.

The official noted that Russian citizens and businesses have the right to purchase and keep cryptocurrency, but not through the country’s financial infrastructure and intermediaries. He made the remark in response to a question of whether the CBR advocates for banning transfers to crypto exchanges from accounts held by Russian citizens.

A working group on crypto regulation is set to hold its first meeting at the Duma this month, starting with a review of a CBR report, the head of the parliamentary Financial Market Committee, Anatoly Aksakov, announced in November. Commenting on the contents of the upcoming report, Chistyukhin said:
His statement comes after sources quoted by Reuters indicated that the regulator is considering a ban on Russian crypto purchases. Then, during a press conference on Friday, CBR Chair Elvira Nabiullina reiterated the bank’s skepticism towards cryptocurrencies and insisted that Russia’s financial system should not be used to facilitate crypto transactions.

https://www.guilded.gg/Fire-on-the-Plains-Pack/overview/news/16Yg193R

https://www.guilded.gg/Fire-on-the-Plains-Pack/overview/news/B6ZXa98R

https://www.guilded.gg/Fire-on-the-Plains-Pack/overview/news/GRmALv3R

https://www.guilded.gg/Fire-on-the-Plains-Pack/overview/news/1ROkY8qR

https://www.guilded.gg/Fire-on-the-Plains-Pack/overview/news/4yAz4x1R

https://www.blockdit.com/posts/61c354ad593ddd6cb328e2ef

https://www.blockdit.com/posts/61c35655c142d648b6472840

https://www.blockdit.com/posts/61c357c01d51761405ed6e11

https://www.blockdit.com/posts/61c358e21d51761405ee0cd0

https://www.blockdit.com/posts/61c359da3a45ab0204a734d6

https://groups.google.com/g/-2021-hd–tw/c/ycckbNkih2o

https://groups.google.com/g/-2021-hd–tw/c/VFq-sUFyJFs

https://groups.google.com/g/-2021-hd–tw/c/cPscW0K8EHw

https://groups.google.com/g/-2021-hd–tw/c/XxhcQdGUn70

https://groups.google.com/g/-2021-hd–tw/c/JbpAx7t6-LY

https://wakelet.com/wake/_a5gavIZT97DP33dL1x6J

https://wakelet.com/wake/KkLCWiYH-Ubs6Fpvr9p3t

https://wakelet.com/wake/CC6T2P-Xfe0OzFiVwEKt2

https://wakelet.com/wake/1ECCoB7FUz7YOj0LmTw4I

https://wakelet.com/wake/iHVXmQYmww2c-rB8bg_Xd

https://minimore.com/b/b1FDR/1

https://minimore.com/b/y7Sky/1

https://minimore.com/b/V52CF/1

https://minimore.com/b/Kdg5O/1

https://minimore.com/b/70SSb/1
Russia’s Central Bank Ready With Digital Ruble Prototype
While clarifying its stance on cryptocurrencies, the CBR has been working to develop a Russian central bank digital currency (CBDC). The prototype of the digital ruble platform is now completed, First Deputy Chair Olga Skorobogatova told journalists this week. Quoted by the Interfax news agency, she added that the authority plans to begin piloting operations with the currency after the holidays in January.

A dozen Russian banks will participate in the first of several stages of the trials that will continue throughout 2022. Earlier in December, Bank of Russia explained that it will invite credit organizations and carry out consumer-to-consumer operations during the first stage. The Federal Treasury, along with financial intermediaries, will join at the second stage when transactions between private individuals and corporate entities will be tested.

CBR began contemplating a digital version of the Russian ruble three years ago and decided to explore the possibility of issuing the CBDC last year. A consultation paper was published in October 2020 and the regulator gathered feedback from financial sector players. In April 2021, the bank released a digital ruble concept outlining its principal architecture. Besides Russian citizens, the bank plans to also allow non-residents to open digital ruble wallets, use the currency, and convert it to foreign fiat.

Leave a Reply