Russia's Central Bank to Study Blockchain Tech
The Bank of Russia has announced plans to "analyse and evaluate" potential applications of blockchain technology within finance. The country's central bank revealed on Sunday it had established a working group that will provide analysis of "advanced technologies and innovations in the financial market", with the goal being to study distributed ledger technologies, as well as developments in mobile, payments and other areas. The news comes at a time when certain public entities in Russia are supporting a possible ban on monetary surrogates, a classification that includes....
Related News
The Central Bank of Russia (CBR) has set out to examine the risks associated with cryptocurrency investments. The regulator is going to conduct a dedicated study with the participation of major banks and payment processors operating in the Russian market. CBR Adds Crypto to Its Survey Program for 2021 Russia’s central bank, known as Bank of Russia, is planning to carry out research regarding the risks that accompany crypto investing. The study titled “Assessment of risks of using cryptocurrencies” has been added to the recently published “Bank of Russia survey....
While Russian authorities and regulators take a notoriously hardline stance against Bitcoin, the country’s central bank has announced the establishment of a ‘working group’ that will seek to study distributed ledger or blockchain technology, the same underlying technology that powers Bitcoin. In a confirmed nod toward showing favorability toward blockchain technology and new financial technologies (Fintech), The Bank of Russia (Russia’s central bank) has revealed the creation of a working group to evaluate the applications of blockchain technology. The Bank of Russia made the revelation in....
The head of a recently created unit at the Central Bank of Russia devoted to exploring financial technologies sees a wide-reaching role for blockchain use in finance, according to a recent interview. Translated statements from an interview between Russian-language publication Bankir.ru and Vadim Kalukhov, director of the Russian central bank’s Financial Technology, Projects and Process Management Department, paint a portrait of cautious enthusiasm for the technology, a stance consistent with past statements from the institution. The Central Bank of Russia, which earlier this year made....
Despite the perceived hostility towards Bitcoin in Russia, the country’s central bank has just announced that it has officially established a new “work group” to study the digital currency’s underlying blockchain technology and its potential application in financial markets. In a press release issued by the Bank of Russia on February 28, the country’s....
As China is actively testing its digital yuan, Russia is now planning to build and test a central bank digital currency, the digital ruble. Meanwhile, the Bank of Russia has proposed limiting the amount of bitcoin retail investors can buy. Russia’s Central Bank Plans Digital Ruble The central bank of Russia has outlined its plans to conduct an experiment using the digital ruble with a limited number of participants after public consultations, Izvestia publication reported last week. The Bank of Russia announced the development of the digital ruble and public consultations on its....