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Russia-based Sberbank has confirmed its participation in the digital ruble pilot spearheaded by the Russian Central Bank.
CBDC, partnership, central bank, banks, cryptocurrency
Russia’s Federation Council has recently passed a bill that grants legal authority to the country’s central bank digital currency (CBDC).
cryptocurrency, CBDC, central bank, regulation
The European Union (EU) has agreed to impose new sanctions on Russia over its invasion of Ukraine.
regulation, Russia Ukraine War, transactions , banks, COVID-19
A representative of Russia’s Ministry of Finance has stated the country is seeking a non-restrictive policy for using Bitcoin and crypto in international trade.
cryptocurrency, digital assets, cross-border payments, Bitcoin
The Central Bank of the Russian Federation has begun testing the digital rouble platform and has completed a cycle of transfers between individual clients.
CBDC, banks, digital currency, digital wallet, digital assets
Isbank and Denizbank, two Turkey-based lenders, have suspended the use of Russian payments system Mir to banks, following US crackdown.
banks, payments , Russia Ukraine War, regulation, transactions
The Bank of Russia, the country’s central bank, has admitted that cross-border payments in crypto are inevitable in the current geopolitical conditions.
banks, cryptocurrency, cross-border payments, central bank, regulation
The Russian and Indian Governments have gotten closer to an agreement to have cards based on Russia’s Mir payment system be accepted at ATMs and POS in India.
Russia Ukraine War, financial sanctions, UPI, cross-border payments
Five Turkish banks have adopted Russia’s Mir payments system, Turkey’s President Recep Tayyip Erdogan said after talks with President Vladimir Putin.
banks, payments , Russia Ukraine War, partnership, e-wallet
The unprecedented scale and speed of sanctions against Russia has highlighted the need for a new approach to compliance that is enabled by better data and Artificial Intelligence (AI) automation
compliance, financial sanctions, risk management, artificial intelligence, data, KYC, AML
Dr. Leo Lipis, Chief Executive of Lipis Advisors, offers a lucid account of the ways in which the EU and US must pay attention to the loopholes the Russian banks can use to bypass some of the economic sanctions, now that it’s more important than ever for them to take effect in discouraging the military campaign.
Russia Ukraine War, financial sanctions, online banking, SWIFT, Visa, MasterCard
Business software giant Oracle Corp has announced it has suspended all operations in Russia, amid the country’s invasion of Ukraine.
Russia Ukraine War, financial sanctions, regulation, SWIFT
Japan has announced on 1 March 2022 that it joined the US and its international allies in imposing additional sanctions to the Russian Federation, amid the conflict in Ukraine.
central bank, financial services, financial institutions, bank account, bank transfer, transaction monitoring, Russia Ukraine War
The Central Bank of Russian Federation has reportedly intended to impose a blanket ban on the sector soon, according to its governor, CoinGeek reports.
central bank, cryptocurrency, CBDC
Russia, crypto rules, cryptocurrency, banks, exchanges, Bitcoin, ether, Vladimir Putin, Kremplin, cryptocurrency law, digital currency, Russian Federation, crypto exchanges, Bitcoin mining, blockchain
‘There are costs and risks to a program of action, but they are far less than the long-range risks and costs of comfortable inaction’ John F. Kennedy
Frederik Obermaier, Bastian Obermayer, Panama papers, regtech, money laundering, Deloitte, MasterCard, merchants, onboarding, ecommerce, deceiving marketing, Web Shield
On March 19 the US President Donald Trump issued a trading ban on Venezuela’s Petro cryptocurrency, however some reports say Russia helped the Venezuelan government launch it.
Petro, virtual currency, cryptocurrency, Bitcoin, Venezuela, economic crisis, Latin America, crypto
The Russian Ministry of Finance has drafted a new bill to legalize cryptocurrency trading on organized trading platforms.
Russia, blockchain, Bitcoin, cryptocurrency, legalize Bitcoin trading, cryptocurrency exchanges
The Bank of Russia has issued a new statement on the risks of taking part in initial coin offerings (ICOs) and using cryptocurrencies.
Bank of Russia, ICO, cryptocurrency, Russia, tokens, official ban
Russia has announced its support for development of ecommerce unless it does not damage the interests of the state.
Russia, ecommerce, Vladimir Putin, fiscal, online sales