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US and UK authorities have analysed cryptocurrency transactions exceeding USD 20 billion that flowed through a Russia-based virtual exchange.
cryptocurrency, financial sanctions, cryptocurrency exchange, transactions , compliance, regulation
The US Treasury has announced that it imposed sanctions on Russian financial services and technology participants for providing services in virtual assets intended to evade Ukraine.
fraud prevention, regulation, financial services, financial institutions, virtual asset
The European Union has agreed on the 13th package of sanctions against the Russian Federation following two years of aggression in Ukraine.
financial sanctions, fraud prevention, regulation, compliance
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 government of Russia has given up on its plans to create a national cryptocurrency exchange and will direct its focus elsewhere.
cryptocurrency exchange, cryptocurrency, cross-border payments, regulation
The parliament of Russia has published a draft law that considers using digital assets for cross-border payments in a bid to overcome sanctions.
cross-border payments, digital assets, digital payments, regulation
The Financial Action Task Force has planned the strengthening of standards for the Travel Rule in order for countries to accommodate safer virtual asset services.
regulation, compliance, virtual asset, crypto asset, cryptocurrency, stablecoin
The Central Bank of Russia has revealed its plans to launch a series of tests involving digital ruble transactions between real customers.
CBDC, central bank, cryptocurrency, digital assets
The Russian Vedomosti news agency has revealed in an article that Russia and Iran are gearing up to launch a new gold-backed stablecoin.
stablecoin, cryptocurrency, cross-border payments, partnership, regulation
The Central Bank of Russia has decided to use cryptocurrencies for cross-border payments in trials with private companies.
cryptocurrency, central bank, cross-border payments, digital assets
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
The Central Bank of Russia has announced its plans to begin the implementation of the digital ruble in 2024.
CBDC, digital currency, central bank, crypto asset, blockchain
The lower house of Russian parliament has adopted a law prohibiting the use of digital financial assets in payments.
regulation, crypto, digital assets, crypto asset, virtual asset
Netherlands-based blockchain investigative tool Crystal Blockchain has released an updated report on the cryptocurrency donations raised in support of Ukraine.
blockchain, cryptocurrency, Russia Ukraine War, Bitcoin, Ethereum
The Paypers has compiled thorough research on the financial sanctions imposed on the Russian Federation in the last two weeks. We aimed to help create a clearer picture of the complex economic machinations that the global payments, banking, and ecommerce ecosystems are faced with
Russia Ukraine War, European Commission, Visa, MasterCard, American Express, central bank, financial sanctions
Following a global wave of support for Ukraine, several tech companies, including Netflix have announced they are exiting the Russian market.
Russia Ukraine War, netfix, Meta, Snapchat, financial sanctions, online shopping, shopping
US-based payment service provider PayPal has restricted access to their services in Russia as sanctions continue to expand.
PayPal, remittance, online payments, Russia Ukraine War, fintech
Credit card company American Express has announced that globally issued Amex cards will no longer work in Russia, and cards issued in Russia will not work outside the country.
American Express, Visa, MasterCard, Russia Ukraine War, credit card, debit card