Russian central bank registers nation’s first digital asset manager
In late 2021, Bank of Russia deputy governor claimed the bank would allow crypto investment only via foreign firms. The Bank of Russia has registered tokenization service Atomyze as the country’s first digital asset management company, the central bank officially announced Thursday.According to the announcement, the Bank of Russia has formally deemed the rules of the company’s information system and the platform’s technical implementation as being compliant with the Russian law.The registration enables Atomyze to provide its clients with an opportunity to issue digital financial assets, or....
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Cryptocurrency transactions of more than 600,000 rubles (roughly $8,000) will have to be declared or be considered a criminal act. The government and central bank in Russia have reached an agreement on how to regulate cryptocurrencies, according to a Tuesday announcement.Russia's government and central bank are now working on a draft law that will define crypto as an "analogue of currencies" rather than digital financial assets, set to be launched on Feb. 18. Cryptocurrencies would function in the legal industry only if they have complete identification through the banking system or....
Backed by a sanctioned Russian oligarch, Atomyze became Russia’s first legal digital asset manager, obtaining registration from the central bank in February 2022. The Russian government-backed tokenization platform Atomyze has issued its first digital asset backed by palladium in collaboration with the local bank Rosbank.Rosbank officially announced on Monday that it became the first partner of the Russian blockchain firm Atomyze, acting as an investor in Russia’s first digital asset deal with palladium.According to the announcement, the newly issued digital asset is the first digital....
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....
The central bank and the finance ministry in Moscow have been asked by the head of the Russian government to agree on a vision for the development of the country’s digital asset market by Dec 1. Working with other regulators, they should also present a common position on the legislation needed to regulate it.
Pressed by Sanctions, Russian Government Moves to Regulate Cryptocurrencies
Russian Prime Minister Mikhail Mishustin has told the Ministry of Finance to prepare, together with the Bank of Russia, and submit concrete proposals for the future of the digital financial....
Earlier on, the Russian government and central bank was known to have imposed a ban on bitcoin and cryptocurrency information in the country. They even restricted access to websites that contain digital currencies, although this ban was lifted later on. Just recently, the Russian central bank governor said that they would welcome bitcoin and other cryptocurrencies. Russian newspaper Izvestia reported that a source close to the Bank of Russia said that the central bank may allow, and regulate, some Bitcoin activities, specifically transfers, payments, and settlements between users. However,....