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The Russian economy has experienced substantial growth across various sectors, with unemployment rates remaining historically low, despite ongoing Western sanctions related to the Ukraine conflict. Industrial production, driven by military manufacturing, saw a 3.3% increase in July, and the GDP growth rate for the first half of the year reached 4.6%, compared to 1.8% in … Read more
To mitigate risks associated with public blockchain networks, the paper proposed appointing an entity with the authority to “control and limit access” to cryptocurrency assets. Go to Source
RBI Governor Shaktikanta Das advocates a plug-and-play system to enhance cross-border payment efficiency and CBDC interoperability. Go to Source
As the U.S. Federal Reserve’s Federal Open Market Committee (FOMC) gears up for its meeting on Sept. 18, anticipation is building for a rate cut. Market participants are placing their bets, with expectations leaning toward either a 25 basis points (bps) reduction or a 50bps cut. However, Massachusetts Senator Elizabeth Warren is urging the Fed … Read more
The Bank of Russia is exploring the use of stablecoins in cross-border transactions, considering them as digital financial assets (DFAs) under existing regulations if they have a responsible entity. The initiative may involve a limited group of qualified investors and would require testing for regulatory feasibility. Bank of Russia Explores Stablecoin Use for Cross-Border Transactions … Read more
The bank services several crypto-friendly financial technology companies. Go to Source
According to Tether CEO Paolo Ardoino, recently approved MiCA regulations threaten both banks and stablecoin issuers. Go to Source
The European Central Bank recently joined forces with Crystal Intelligence, as its blockchain analytics partner for the upcoming MiCA implementation. Go to Source
This marks the bank’s first interest rate cut in over four years, with the last rate cut occurring in March 2020. Go to Source
Russia plans to launch international cryptocurrency payments by the end of the year to counter Western sanctions, according to the governor of the Bank of Russia. The central bank is prepared to be flexible and is already discussing the conditions of this initiative with various ministries, agencies, and businesses. In addition, Russia’s State Duma, the … Read more