Russia to Start CBDC Trials With 13 Banks
The Bank of Russia (BoR) has announced that it will start using digital rubles for testing Russia’s central bank digital currency (CBDC) project. The testing phase begins on August 15, with 13 banks and a few consumers participating. According to First Deputy Governor Olga Skorobogatova , the project’s critical stage will involve trial operations using […]
Russian President Vladimir Putin Signs Law on Digital Ruble
The Bank of Russia has promised no obligatory transfer of salaries and pensions to digital rubles when they are finally in use. According to a formal government document, President Vladimir Putin signed the measure establishing the digital ruble into law on July 24, advancing Russia’s central bank digital currency (CBDC). The digital ruble law is […]
Digital Rouble Bill Passes Parliament In Russia
The lower chamber of the Russian parliament, Gosduma, passed the “digital rouble” bill in its third reading on July 11. The document must now be confirmed by the superior chamber and signed by the President. The law, whose draft was most recently revised at the end of June, establishes the legal definitions of “platform,” “participants,” […]
Sberbank to Initiate Crypto Trading in Russia
Sberbank, the largest bank in Russia, will soon allow accredited individual investors to trade Digital Financial Assets (DFA) starting in June. Local sources have reported this news, though it is worth noting that the offering was planned for the end of Q1 2023. According to Anatoly Popov, the deputy chairman of the board at Sberbank, […]
Russia’s Rosbank Launches Crypto Payments Solution
Rosbank, one of Russia’s largest banks, is reportedly venturing into cryptocurrencies to facilitate cross-border payments. A spokesperson from the bank mentioned that Rosbank is currently trying out a new system by conducting trial transactions with both business and individual customers. Vedemosti, the media outlet that first reported this news on June 2, reached out to […]