Digital ruble should not affect inflation, Bank of Russia says
According to official data, Russia’s inflation rate reached 8.1% in October, the highest level in almost six years. Go to Source Powered by WPeMatico
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Digital Ruble Should Not Boost Inflation, Bank of Russia Says
Bank of Russia is preparing for a prolonged trial of the digital version of the national fiat to ensure this is a “full-fledged ruble,” the head of the monetary authority has emphasized. The regulator has put forward some conditions for the implementation of the new currency project. Bank of Russia Sets Conditions for Digital Ruble … Read more
Tanzania’s Zanzibar reportedly exploring ways to adopt crypto
More African countries are considering adopting Bitcoin as the local crypto market surged over 1,200% in one year. Go to Source Powered by WPeMatico
US Faces More Inflation Woes as CPI Hits Highest Record in 30 Years
U.S. inflation continues to roar higher as this week’s data from the consumer price index (CPI) jumped 6.2% from a year ago. Americans are concerned as the Federal Reserve has expanded the monetary supply like at no other time in history, suppressed the benchmark interest rate, and U.S. politicians are creating multi-trillion-dollar packages with money … Read more
Chinese retail giant JD accepts digital yuan payments for Singles Day
Some 450,000 JD.com customers have used China’s digital yuan for payments as of June 2021. Go to Source Powered by WPeMatico
Nigerian banks tracking customer accounts for crypto trading
Personal accounts with large multi-day inflow and outflow are being tracked per an order by the country’s central bank. Go to Source Powered by WPeMatico
Digital Ruble to Give Russians What They Need, Bank of Russia Governor Says
The digital ruble is what Russian citizens need as it will facilitate inexpensive and reliable payments, the head of Bank of Russia, Elvira Nabiullina, told participants in an international banking forum. The governor also warned that cryptocurrencies and fiat-backed stablecoins create risks for financial stability. CBR’s Nabiullina Praises Digital Ruble Concept, Rejects Cryptocurrencies The Central … Read more
Russian Officials Back Idea of Recognizing Crypto Miners as Entrepreneurs
Cryptocurrency mining should be recognized as an entrepreneurial activity under Russian law and taxed accordingly, representatives of key ministries in Moscow and the parliament have indicated. Officials believe the regulatory move would benefit both the state and the crypto industry. Russian Government to Collect Millions of Dollars in Taxes After Legalizing Crypto Mining While the … Read more
Zimbabwe minister signals CBDC interest amid Bitcoin adoption rumors
Minister Monica Mutsvangwa clarified that Zimbabwe is not considering the adoption of cryptocurrencies or Bitcoin. Go to Source Powered by WPeMatico
Russia to change laws for digital ruble while central bank mulls 2022 prototype
Russian lawmakers will reportedly begin working on the legal adjustments needed to implement the digital ruble plan scheduled for early 2022. Go to Source Powered by WPeMatico