DFAs – DIGIT INFO

Russian Companies ‘Actively’ Using Crypto, Russia to Adopt 4 Relevant Laws, Official Says

DIGIT — Sun, 14 May 2023 08:00:45 +0000

Russian lawmakers intend to soon approve four bills designed to regulate various aspects of cryptocurrencies, a high-ranking member of the Russian parliament announced. Meanwhile, Russian companies are already using digital assets in cross-border settlements, the official noted. Russian Legislature to Vote on Crypto Laws by End of July The State Duma, the lower house of […]

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Digital Assets for 1 Billion Rubles Issued in Russia in a Month

DIGIT — Sun, 07 May 2023 09:30:28 +0000

Platforms authorized by the Russian government issued digital assets worth around a billion rubles in April, the local press reported. The spike in the volume has been attributed to Russian companies experimenting with new financial instruments amid limited access to traditional capital. Russia’s Digital Assets Market Livens Up as Capital Markets Dry Up for Russian […]

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Digital Assets Worth 2 Billion Rubles Issued in Russia in Less Than a Year

DIGIT — Thu, 16 Mar 2023 14:00:25 +0000

Digital financial assets (DFAs) for a total exceeding $26 million have been issued in Russia in the past year. This new market has been developing since it was regulated in 2021 and the country’s monetary authority started licensing issuers in the following year. Volume of Digital Assets Increases in Russia as Investors Seek Alternatives to […]

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Bank of Russia Registers Another Digital Asset Issuer

DIGIT — Mon, 13 Mar 2023 05:30:35 +0000

The Central Bank of Russia has added another entity to its register of authorized issuers of digital financial assets. The platform, called ‘Masterchain,’ becomes the fifth ‘information system operator’ in the country that can legally tokenize traditional assets and organize their trade. Number of Licensed Digital Asset Issuers in Russia Grows to Five The Central […]

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Bill Allows Russian Financial Platforms to Operate Blockchains, Issue Digital Assets

DIGIT — Fri, 17 Feb 2023 23:00:50 +0000

A draft law filed in the Russian parliament permits operators of platforms providing financial services to also run blockchain platforms. The legislation will allow them to combine their regular activities in the traditional financial market with issuing digital assets. New Law Opens Door to Blockchain Space for Russian Financial Service Providers The State Duma, the […]

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Digital Gold Traded for Digital Rubles by Russia’s Rosbank

DIGIT — Thu, 09 Feb 2023 12:30:04 +0000

Rosbank has brokered Russia’s first deal involving the exchange of tokenized gold with the digital version of the Russian national fiat currency, the ruble. The successful transaction demonstrates the growing interest in digital financial assets and the need for digital ruble payments, the banking institution stated. Rosbank and Atomyze Exchange Gold and Rubles in Digital […]

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Russia’s Largest Private Bank Launches Digital Asset Platform

DIGIT — Sun, 05 Feb 2023 21:00:08 +0000

Alfa-Bank, one of the major Russian banking institutions, has established its own platform for digital financial assets. The launch became possible after Russia’s monetary authority added Alfa-Bank to its register of digital asset issuers this week. Privately-Owned Alfa-Bank Sets Up Digital Asset Platform With Central Bank’s Permission Russia’s Alfa-Bank has launched ‘A-Token,’ a platform allowing […]

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Gold-Based Digital Assets Issued in Russia

DIGIT — Thu, 29 Dec 2022 08:30:37 +0000

A blockchain platform built by Russia’s largest banking institution, Sber, has been used to issue digital assets based on gold. The value of the tokenized precious metal will depend on the prices of physical gold, the bank said, emphasizing that the operation is a first. Russia’s Sber Bank Mints Gold-Backed Coins Sber, Russia’s largest bank, […]

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Bank of Russia Moves to Safeguard Crypto Companies Against Sanctions

DIGIT — Fri, 16 Dec 2022 02:30:45 +0000

The Central Bank of Russia has introduced measures to protect entities working with digital assets from sanctions pressures. These businesses will be exempted from some reporting requirements as part of a regulatory relief intended to minimize the burden on financial organizations. Russia’s Central Bank Eases Supervision of Digital Asset Platforms Amid Sanctions The Central Bank […]

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Russia’s Largest Digital Asset Deal Denominated in Chinese Yuan

DIGIT — Mon, 05 Dec 2022 07:00:39 +0000

A Russian company has announced the country’s first authorized transaction with digital financial assets (DFAs) involving a foreign currency, China’s yuan. The deal, reportedly the largest made to date under the current Russian DFA law, covers the issuance of tokens secured by commercial debt. Digital Financial Assets for 58 Million Yuan Issued by Russian Platform […]

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