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Bank of Russia has recommended commercial banks pay heightened attention to their clients’ transactions related to cryptocurrencies. The regulator requires the financial institutions to monitor such activity against the backdrop of restrictions on currency operations amid western sanctions. Monetary Authority Urges Banks to Control Spending Linked to Crypto Assets The Central Bank of Russia (CBR) … Read more
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) … Read more
The regulator’s recommendation is designed to prevent capital flight amid economic collapse. Go to Source Powered by WPeMatico
Policymakers in Moscow are scrambling to rethink their approach to digital currency as one of several means of protecting the increasingly isolated economy. Go to Source Powered by WPeMatico
The working group weighed in on the side of the Finance ministry in a call to regulate, not ban crypto. Go to Source Powered by WPeMatico
The catastrophe unfolding in Ukraine will have long-lasting consequences for the crypto space, too. Go to Source Powered by WPeMatico
A bank run has started in Russia as citizens rush to withdraw cash amid escalating sanctions. The Russian ruble also nosedived to a record low, plunging more than 30%. “There are about 70 people in line. Eyewitnesses say the money in the ATM runs out within 40 minutes.” Russians Rush to Withdraw Cash as Sanctions … Read more
As an immediate countermeasure against the rising inflation of its fiat currency, the Russian central bank doubled key interest rates on Feb. 28, from 9.5% to 20% Go to Source Powered by WPeMatico
The Ukrainian government has reached out to the crypto community on Twitter to raise funds to support its civilians and troops. Go to Source Powered by WPeMatico
Russia’s largest bank, Sberbank, has denied its own supposedly false statement on being included in the U.S. sanctions list on Thursday. Go to Source Powered by WPeMatico
