Bank Buys Bitcoin in Kazakhstan, Country to Develop Crypto Exchange

Bank Buys Bitcoin in Kazakhstan, Country to Develop Crypto ExchangeA financial institution and a coin trading platform in Kazakhstan have teamed up to carry out what they say is the country’s first such joint transaction for the acquisition of cryptocurrency. Meanwhile, Kazakhstan’s leadership has declared readiness to further develop crypto exchange in the nation’s financial hub. First Banking Operation With Crypto Assets Opens Door […]

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China, Hong Kong, Thailand, and UAE Trial Cross-Border Transactions With Digital Currencies

China, Hong Kong, Thailand, and UAE Trial Cross-Border Transactions With Digital CurrenciesThe monetary authorities of four jurisdictions in Asia have carried out tests with international settlements using state-issued digital currencies. Cross-border payments and foreign exchange transactions totaling over $22 million were made as part of the pilot project with the participation of the Bank for International Settlements. Asian Central Banks Pilot Real-Value International Settlements With Digital […]

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Settlements With China — Russia Plans Next Step for Digital Ruble

Settlements With China, Russia Plans Next Step for Digital RubleRussia intends to use its digital ruble, to be introduced early next year, for payments with its key ally, China. Authorities in Moscow hope other nations will be willing to adopt the Russian digital currency in trade, which will allow the country to circumvent sanctions imposed over the Ukraine war. Russian Federation Eyes Digital Ruble […]

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Australia Issues White Paper for Central Bank Digital Currency

Australia Issues White Paper for Central Bank Digital CurrencyReserve Bank of Australia is researching the potential benefits of launching a central bank digital currency. The monetary authority released a white paper outlining its goals and invited interested parties to participate with proposals and suggest pilot projects. Central Bank of Australia to Pilot CBDC Until Middle of 2023 The Reserve Bank of Australia (RBA) […]

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Crypto Payments May Not Help Russia Bypass Sanctions, Experts Say

Crypto Payments May Not Help Russia Bypass Sanctions, Experts SayRussia is preparing to authorize international crypto payments but people involved in the industry doubt this would allow the country to circumvent sanctions. At the same time, the United States has been tightening the noose, recently targeting the use of cryptocurrencies to dodge the financial restrictions imposed by the West with new legislation in Congress. […]

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Russia Starts Developing Mechanism for International Crypto Payments

Russia Starts Developing Mechanism for International Crypto PaymentsFinancial authorities in Russia have begun work on a mechanism to facilitate the employment of cryptocurrencies for settlements with other nations amid sanctions. The country’s central bank and finance ministry have already agreed on a draft law regulating cross-border crypto payments. Regulators in Russia Move Toward Legalizing Use of Cryptocurrency in Foreign Trade Russian authorities […]

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Erdogan Suggests Turkish-Russian Payment System, Local Media Reports

Erdogan Suggests Turkish-Russian Payment System, Local Media ReportsTurkish President Recep Tayyip Erdogan is reportedly pushing for Turkey and Russia to establish a new payment system between them. The initiative comes amid U.S. pressure against the use of the Russian Mir cards in Turkey. Some Turkish banks have been working with them to facilitate payments by Russian tourists visiting the country. President Erdogan […]

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