Coinbase CEO Says Ordinary Russians Use Crypto as a Lifeline as the Ruble Col...
The CEO of the Nasdaq-listed crypto exchange Coinbase says ordinary Russians are using cryptocurrency as a lifeline now that their own currency, the ruble, has collapsed. The executive also does not see a high risk of Russian oligarchs using crypto to avoid sanctions. Crypto Becomes a Lifeline for Ordinary Russians Coinbase CEO Brian Armstrong shared his view on crypto usage and his exchange’s policy in a series of tweets Friday as Russia continues to wage war against Ukraine. Firstly, he emphasized that Coinbase is “not preemptively banning all....
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If Western sanctions ramp up, CEXs may be forced to ban all Russian users from using their services, as they have previous done in Iran. Centralized exchanges (CEX) and CEOs from companies such as Binance, Coinbase and Kraken have all stated they would only freeze the assets of Russian clients specifically targeted by Western sanctions — not that of everyday Russian users.A few days prior, Mykhailo Fedorov, Ukraine’s minister of digital transformation, had called for “all major crypto exchanges to block [wallet] addresses of Russians” and “also to sabotage ordinary users [by freezing their....
A new survey of 3,000 Russians suggested that most people strongly disagree with receiving salary payouts in a state-controlled digital currency. Amid the Bank of Russia continuing progressing with its central bank digital currency (CBDC) development, one survey suggested that few Russians are ready to accept salary payments in the digital ruble.Almost half of the Russian respondents strongly objected to receiving salaries in the digital ruble in a new survey by local recruitment site HeadHunter. Only 11% of respondents said that they were ready to get salaried in the digital ruble, while....
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 for Digital Ruble Transfers
The Central Bank of Russia (CBR) is planning to impose fees on transactions with the digital ruble, revealed Kirill Pronin, director of the regulator’s Financial Technologies Department. The official emphasized that these commissions....
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 Concept, Rejects Cryptocurrencies The Central Bank of Russia (CBR) takes very seriously cryptocurrencies and stablecoins as they pose risks to the financial stability of the country, the head of the monetary authority said during a....
According to a recent poll, 14% of Russians think crypto will replace fiat in 10 years, while 39% think it's impossible to give up cash. New research from one of the top 10 major banks in Russia, Otkritie Bank, has found that 14% of Russians think crypto will replace fiat in 10 years. According to Russian publication Nord News, the survey was conducted between April 12 and April 16, with a sample base of 1000 Russians aged between 18 to 65 who live in cities with a population of over 100,000. The results varied between regions, with respondents from the Northwest having the least faith in....