Bank of Russia Sees No Place for Crypto in Financial Market, Finalizes Digita...
In advance of presenting its comprehensive view on crypto regulations, the Central Bank of Russia has indicated that it sees no place for cryptocurrencies in the country’s financial market. The monetary authority also announced that the prototype of the platform for its own digital currency is already completed. Bank of Russia to Issue Report on Cryptocurrency Known for maintaining a hardline stance on the question of legalizing cryptocurrencies, the Central Bank of Russia (CBR) is now preparing a report that will provide its view on the matter in detail. The regulator intends to....
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The Central Bank of Russia has recently expanded its database of financial market players suspected of illicit activities. Several crypto companies have been added to the list along with entities bearing signs of Ponzi schemes, as well as illegal credit organizations and forex dealers. Central Bank of Russia Blacklists Crypto Platforms As part of its monitoring of the financial sector, the Central of Russia (CBR) regularly identifies illegal financial services providers and warns Russian investors about fraudulent platforms. This week, the regulator added another 105 companies to its....
Russia’s central bank has voiced opposition to the provision of financial services related to cryptocurrencies. The monetary authority believes such offerings would go against the interests of Russian investors as they are highly risky. Central Bank of Russia Unwilling to Allow Financial Services for Crypto Assets The Central Bank of Russia (CBR), known for its hardline stance on the legalization of cryptocurrencies, has dismissed a call by members of the financial sector to authorize the provision of crypto-related services. The regulator announced its position during a meeting....
Sberbank, Russia’s largest bank, has been authorized by the country’s monetary policy regulator to issue digital financial assets. The move comes amid tightening Western sanctions over the war in Ukraine, including limiting Moscow’s access to the global financial market.
Sberbank Added to Central Bank’s Register of Crypto Asset Issuers
The Central Bank of Russia (CBR) has added Sberbank, the country’s leading banking institution, to its register of information system operators permitted to issue digital financial assets (DFAs). The term is used....
It may come as quite a surprise to some people, but the Bank of Russia will be exploring what Bitcoin technology has to offer to the financial world. The status of Bitcoin in Russia seems to be changing on a day-to-day basis. One day, government officials want to abolish the digital currency and make using Bitcoin punishable by law. The next day, the Bank of Russia announces they are looking to explore the possibilities and boundaries of Bitcoin technology. Trying to make sense of all of this is becoming rather difficult, but it is good news to see the Bank of Russia keeping an open mind.....
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....