• russia testing digital ruble
    Cryptocurrencies,  Regulation

    Russia’s Central Bank will test digital ruble in 2022

    The central bank deputy chairman said that he expects a prototype of the digital currency to be ready this year, but many regulatory changes will be needed

    Deputy Chairman of the Central Bank Alexey Zabotkin said that the central bank will start “testing rounds” of its CBDC as early as 2022. In October, Bank of Russia head Elvira Nabiullina said that the forthcoming transformation of the economy is taking place, and as a result, “there must be a transformation of the settlement system.”

  • Russian court overturns Binance ban
    Cryptocurrencies,  Regulation

    Russian court overturns Binance ban

    The ruling nullifies the September blacklisting of the cryptocurrency exchange by Russian telecom regulator Roskomnadzor

    Roskomnadzor banned Binance’s domain in late September for distributing prohibited information—specifically, instructions about acquiring digital currencies such as Bitcoin (BTC). This may be surprising to some, but Russians are still very much wary of cryptocurrencies. According to a report released at the time, only one in 10 locals would consider investing in digital assets.

  • Russian power firm fights illegal miners
    Bitcoin,  Technology,  Uncategorized

    Russian power firm: illegal crypto miners steal $9.5M

    Russian power grid firm Rosseti fears that record high prices will encourage illegal Bitcoin miners and threatens to disrupt the country’s electrical grid

    Russian power firm Rosseti is afraid that record-high Bitcoin (BTC) prices may spur a new wave of illegal cryptocurrency mining operations stealing electricity and threatening to disrupt Russia’s electrical grid.

  • Russian finance minister digital ruble
    Politics,  Regulation

    Digital ruble will cut transaction costs and increase transparency: Russian finance minister

    Anton Siluanov admitted that he does not know whether a central bank digital currency will be rolled out, but said pursuing one is the best course of action

    Russia’s finance minister Anton Siluanov claimed the digital version of Russia’s fiat currency will reduce transaction costs and improve the transparency of settlements