Cryptocurrency Analysis and News Portal
After the Chinese authorities introduced a complete ban on cryptocurrency transactions in September by equating them to illegal financial activity, local cryptocurrency miners either dropped off the radar or moved to other countries in order to continue with their business.The United States subsequently became the leader in terms of Bitcoin
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Users of Russia’s central bank digital currency are going to pay a fee for each transaction, a high-ranking representative of Bank of Russia has recently announced. The digital ruble charge, however, is not going to exceed those currently applied to fast payments in the country. Bank of Russia to Charge
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Russian parliamentarians have cautioned against risks associated with the introduction of a digital ruble. Among them are the likely increase of competition pressure on banks and new challenges that may arise in the field of information security. Financial Market Committee Sees Threats in Digital Ruble Project Russia’s digital fiat, currently under
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Bank of Russia is preparing for a prolonged trial of the digital version of the national fiat to ensure this is a “full-fledged ruble,” the head of the monetary authority has emphasized. The regulator has put forward some conditions for the implementation of the new currency project. Bank of Russia
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The digital ruble is what Russian citizens need as it will facilitate inexpensive and reliable payments, the head of Bank of Russia, Elvira Nabiullina, told participants in an international banking forum. The governor also warned that cryptocurrencies and fiat-backed stablecoins create risks for financial stability. CBR’s Nabiullina Praises Digital Ruble
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The launch of a digital ruble will be among Russia’s key priorities of digitalization this decade, the country’s financial market development strategy has confirmed. The document claims the issuance of a digital national fiat will help the central bank to prevent Russians from using “money surrogates” as officials have previously
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Russia’s Federal Financial Monitoring Service, or Rosfinmonitoring — the country’s Anti-Money Laundering body — is policing crypto to fiat transactions.The federal executive body responsible for AML oversight made this known while addressing the members of parliament on Tuesday, according to a report by Russian news agency Regnum.In a meeting with
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Banks had feared being drained of liquidity under the original concept for the digital currency. Original Source
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Some telcos are looking at developing a digital wallet that would link the digital currency to users' mobile phone numbers. Source
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The leading cryptocurrency continues to absorb any and all capital in its path, causing its price and market cap to expand. The recent uptrend and price appreciation in Bitcoin has caused the asset to outrank the Russian ruble in terms of total market cap. Here’s why the cryptocurrency continuing to rise
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