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Cryptocurrency exchange Binance is progressing with its exit from Russia and is preparing to terminate local currency deposits next week.Binance will stop accepting deposits in Russian rubles starting Nov. 15, 2023, the firm officially announced on Friday. Binance also advised users to withdraw RUB from the platform, as it expects
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Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied Anatoly Aksakov, head of Russia’s Banking Committee, believes that the digital ruble could potentially render traditional banking institutions obsolete. In a discussion at the AiF.Media club, Aksakov opined that the evolving landscape of financial technology could reduce
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Currently, the central bank of Russia has not made it possible to get a loan in digital rubles, but Askakov believes this will change "because it will be faster and, perhaps, more efficient." If that happens, banks will not be needed at all, Askakov added. Source
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The leading cryptocurrency by market value, widely considered digital gold due to its finite supply, remains listless above $29,000, extending its multi-week dull price action. Bitcoin was one of the preferred safe havens during Turkey's currency crisis of 2021. Gold, meanwhile, hit a seven-week low of $1,896 per ounce on
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Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied The central bank of Russia is preparing to pilot the digital ruble, the country’s central bank digital currency (CBDC). Starting on Aug. 15, the test will aim to evaluate the feasibility and functionality of a digital rendition of the
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“The launch of pilot operations with real digital rubles is the most important stage of the project," the Bank of Russia said in Wednesday's announcement. "This will allow us to test the operation of the digital ruble platform already in an industrial environment, work out all the necessary procedures with
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Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied Russian President Vladimir Putin signed the digital ruble bill into law on July 24. President Vladimir Putin had given his official approval, signing the digital ruble bill into law, and thus, putting Russia on track with its
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According to the head of the parliament's committee on financial markets Anatoly Aksakov, the digital ruble will also allow controlling and limiting the ways private citizen can spend them. For example, parents would be able to control on what their kids spend their pocket money, Aksakov told Parlamentskaya Gazeta in
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Russia is moving forward with its central bank digital currency (CBDC), after President Vladimir Putin signed the digital ruble bill into law on July 24 according to an official document published by the state.With this approval, the digital ruble law is now officially scheduled to take effect from Aug. 1,
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The Central Bank of the Russian Federation’s (CBR) central bank digital currency (CBDC) project has been developing rapidly. The first news about the initiative appeared in 2020, and a regulatory bill was introduced in 2022, which has now passed through its final reading in the parliament’s lower chamber, the Duma.However,
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