Bank of Russia

Auto Added by WPeMatico

Bank of Russia Ready to Legalize Crypto Mining If Miners Sell Minted Coins Abroad

by

The Central Bank of Russia would agree to the legalization of cryptocurrency mining, provided the proceeds from the activity are converted to fiat outside of Russia. The regulator’s latest position on the matter comes after it softened its stance on the possible use of cryptocurrencies for payments, even if only internationally. Central Bank of Russia … Read more

Vladimir Putin Says West’s Attempt to ‘Crush the Russian Economy’ Did Not Succeed

by

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 … Read more

Bank of Russia Accelerates Schedule for Digital Ruble Project

by

The Central Bank of Russia continues to step up efforts to test and issue the digital ruble, with a roadmap for the full implementation of the new form of the national fiat now expected by the end of 2023. Trials with real transactions and users are scheduled to begin next April, earlier than originally planned. … Read more

Russian Ruble Taps 7-Year High Against the US Dollar — Economist Says ‘Don’t Ignore the Exchange Rate’

by

Recent news reports have detailed that Russia’s fiat currency, the ruble, was the best-performing currency worldwide and the articles explained that American economists were perplexed by the trend. On Monday, the Russian ruble rose to 55.47 per dollar, which was the highest increase since 2015. While many have dismissed the ruble’s exchange rate, Charles Lichfield, … Read more

Crypto Payments Possible if They Don’t Penetrate Russia’s Financial System, Central Bank Says

by

Cryptocurrencies can be used for international payments if they don’t penetrate the Russian financial system, the head of Bank of Russia has stated. The governor also insisted that the digital assets should not be traded on platforms operating inside the country. Bank of Russia Chair Ready to Accept Cryptocurrency Payments for International Settlements Cryptocurrencies can … Read more

American Economists Are Baffled by an ‘Unusual Situation’ as Russia’s Ruble Is the World’s Best Performing Fiat Currency

by

Two months after the Russian ruble fell below a U.S. penny, the transcontinental country’s fiat currency is the best performing currency worldwide. American economists are baffled by the “unusual situation” because a country facing stiff sanctions typically sees its fiat currency decline in value, but Russia’s ruble has done the exact opposite. Russia’s Ruble Outshines … Read more