Russian oligarch Deripaska blasts Bank of Russia for ignoring Bitcoin
Russia needs to move to Bitcoin to provide a “real financial instrument enabling independence in foreign trade settlements,” Deripaska argued. Russian industrial tycoon Oleg Deripaska is the latest figure to criticize the Bank of Russia’s stance on cryptocurrency regulation in the country.Deripaska took to his official Telegram channel on Thursday to blast the Russian central bank for pressuring the crypto industry to avoid getting involved into cryptocurrencies like Bitcoin (BTC).The Russian oligarch pointed out that even small countries like El Salvador have moved into Bitcoin by....
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The U.S. Treasury asked cryptocurrency companies to ensure compliance with sanctions last week. Russian oligarch Oleg Deripaska has once again called on the Russian government to stop ignoring Bitcoin (BTC) after the United States Federal Bureau of Investigation raided his homes in Washington and New York.In a Telegram post on Thursday, Deripaska argued that the Bank of Russia has been “infantile in ignoring the growing cryptocurrency market,” while the U.S. Department of the Treasury has been “investing particularly in this direction.”The billionaire emphasized that cryptocurrencies like....
Russian billionaire Oleg Deripaska wants the Bank of Russia, the country’s central bank, to embrace cryptocurrency, citing El Salvador’s bitcoin law as an example. El Salvador recently passed a bill making bitcoin legal tender in the country. Billionaire Oleg Deripaska is the founder of Basic Element, a Russian industrial group focusing in areas such as aluminum, energy, construction, and agriculture. In 2018, the U.S. Department of the Treasury’s Office of Foreign Assets Control imposed sanctions against Deripaska and some of his companies. According to Forbes, his net....
Twelve Russian banks including Sberbank, VTB and Tinkoff Bank will help the Bank of Russia test the digital ruble in January 2022. The central bank of Russia is setting up a group of banking institutions to test its central bank digital currency (CBDC) next year.On Tuesday, the Bank of Russia officially announced the establishment of the first pilot group for testing the digital ruble, bringing together 12 Russian banks.The pilot members include Russia’s largest banks like state-backed Sberbank and VTB, as well as major private banks like Tinkoff Bank. Other participants include commercial....
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....
Cryptocurrencies, including CBDC’s, have now become a part of the narrative on sanctions due to high adoption. The use of cryptocurrencies to evade international sanctions from various international governmental organizations like the United Nations (UN), the International Monetary Fund (IMF) and the World Bank, among others, has been a concern for regulators ever since the creation of cryptocurrencies.The rapidly increasing adoption of digital currencies in the last two years makes this discussion more important than ever, especially with the advent of central bank digital currencies....