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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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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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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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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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Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied Lawmakers in Russia have put forward amendments to the digital ruble bill, including changes to debt operations, services for non-residents, and the role of the central bank, as the bill progresses through parliamentary hearings. Lawmakers in Russia
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The Russian central bank has attributed the ruble’s latest plunge against the U.S. dollar to the temporary reduction “in sales of foreign currency earnings by exporters.” The central bank also revealed that the Chinese yuan accounted for 39% of the Russian forex market’s overall volumes. Temporary Reduction in Sale of
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The rollout of The Bank of Russia’s central bank digital currency (CBDC) pilot is being delayed indefinitely. However, participating banks have stated their readiness to begin the testing. As reported by the state-owned TASS on March 28, the CBDC pilot won’t start on April 1, as previously announced, because specific legislation has
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