Foreigners to Be Given Anonymous Entry Points to Digital Ruble, Russian Offic...
Foreign nationals should be able to buy Russia’s upcoming digital ruble through entry points providing anonymity, according to a high-ranking member of the Russian parliament. The idea circulated in Moscow aims to protect these investors from Western sanctions. State Duma Deputy Proposes Anonymous Digital Ruble Purchases to Avoid Sanctions Foreign investors should be provided with an option to anonymously acquire the Russian central bank digital currency (CBDC), in order to minimize the risk of falling under sanctions, the head of the State Duma Committee on Industry....
Related News
Last week the Russian ruble hit a seven-year high against the U.S. dollar and while analysts have downplayed the rise, one economist said people should not “ignore the exchange rate.” American economists have been perplexed about the ruble’s market performance and Russian officials have been quoted as saying that a strong ruble “makes Russian exports more expensive.” Furthermore, U.S. president Joe Biden continues to blame high gas prices on Vladimir Putin.
Vladimir Putin Says the West’s Sanctions Obviously ‘Did Not Succeed’....
Russia intends to use its digital ruble, to be introduced early next year, for payments with its key ally, China. Authorities in Moscow hope other nations will be willing to adopt the Russian digital currency in trade, which will allow the country to circumvent sanctions imposed over the Ukraine war. Russian Federation Eyes Digital Ruble for Payments in Trade With China The Central Bank of Russia is gearing up to launch settlements with the digital ruble, the new incarnation of the Russian fiat currency that’s now being tested, as early as 2023. According to a statement by a....
Russian banks and financial brokers are worried the digital ruble will be a burden for them.
Bulgarian bitcoin exchange BTC-e has pulled support for the ruble, following a decision by the Russian Prosecutor's Office to ban bitcoin. A statement issued by Russia's General Prosecutor's Office said that it saw growing interest in the cryptocurrency, including from money launderers. "The official Russian currency is the ruble. The use of any other monetary instruments or surrogates is forbidden," it said, citing Russian Article 27 of Russia's Federal Law, regarding the Central Bank of Russia. The announcement is the clearest indication yet of its position regarding cryptocurrencies.....
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 development, brings certain risks that lawmakers want the central bank to carefully examine. The implementation of the digital ruble may pose a challenge for the country’s financial sector, members of the important Financial....