Bank of Russia Archives

Simple Math Says Russia Could Collect Up To $13B In Crypto Tax Each Year

February 8, 2022

The analytic note mentioned that the estimates are purely an overview and based on a basic tax slab of 6%, which would be quite different once regulations are set in place. The Russian government is expected...

Bank of Russia Plans to Pilot Digital Ruble in 2021 End

March 11, 2021

The Bank of Russia is planning to launch a prototype of its central bank digital currency (CBDC) and start piloting as early as late 2021, the monetary regulator’s Deputy Chairman, Alexey Zabotkin, revealed. ...

Russian Central Bank Objects To Ruble Pegged Stablecoins

December 2, 2020

Russian central bank objects to ruble pegged stablecoins. Senior officials at the Bank of Russia have come out against the question of private stablecoins attached to the Russian ruble. Sergei Shvetsov, the f...

Pandemic Accelerated Regulators’ Interest In CBDCs Says Russia Central Bank

November 7, 2020

Pandemic acclerated regulators' interest in CBDC's says Russia Central Bank. Representatives were unanimous in their predictions of the far-reaching implications of the current crisis at an online meeting of ...

Bank of Russia Green Lights Norilsk Nickel’s Tokenization Platform

February 17, 2020

The Bank of Russia’s Financial Technologies Department has approved the blockchain platform of PJSC MMC Norilsk Nickel, enabling the tokenization of goods, services, securities, and other assets. Announced o...

Russian Central Bank Testing Stablecoin Under Sandbox, Exploring CBDC

December 26, 2019

The Bank of Russia has initiated testing of stablecoins pegged to real estate under its regulatory sandbox program. The prospect was revealed by the central bank chairperson Elvira Nabiullina while speaking ...

Russia’s Central Bank Pushes for Gold-backed Cryptocurrency

May 23, 2019

Whether Russia should legalize cryptocurrencies remains a big question, the nation’s central bank chief said Thursday the regulator is considering the launch of a gold-backed cryptocurrency for international ...

Oil-Backed Cryptocurrency Could Hit Russian Markets Soon

February 25, 2019

Former Russian Energy Minister Igor Yusufov is proposing an oil-backed cryptocurrency. Yusufov’s project could stand to benefit from a new set of cryptocurrency regulations that the lower house of the Federal...

Russian Central Bank Plans to Limit the Size of Retail FX Business

July 6, 2017

The Russian Central Bank’s First Deputy Governor Sergey Shvetsov has just concluded an online streaming session, sharing some of his views on the retail forex industry in the country. Speaking to readers via ...

Bank of Russia changes stance, says it’s OK to use Bitcoin

July 3, 2014

The Bank of Russia now indicates that it’s OK to use Bitcoin. This comes months after making statements indicating that it is illegal to do so, saying that individuals may be suspected of engaging in illegal ...