Financial Market – DIGIT INFO

Bank of Russia, Finance Ministry Agree on Crypto Mining Regulation, Law Expected Soon

DIGIT — Thu, 22 Sep 2022 13:30:33 +0000

Major government institutions in Moscow, the central bank and the finance ministry, have aligned their positions on the regulation of cryptocurrency mining in the Russian Federation. The respective bill will soon be filed with the State Duma, a high-ranking member of the house unveiled. Financial Authorities Reach Consensus on How to Regulate Mining of Digital […]

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Crypto Assets Can Help Russia Return to Global Financial Market, Lawmaker Says

DIGIT — Thu, 17 Mar 2022 14:30:52 +0000

Digital financial assets like cryptocurrencies can help Russia to reach the global financial market despite western sanctions, a lawmaker working on crypto regulations has stated. The official believes the country is capable of setting up domestic crypto exchanges and should support mining. Russia Can Establish Own Cryptocurrency Exchanges, Deputy Insists The crypto space is an […]

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Financial Market Committee Chair Aksakov Joins Calls for Identification of Russian Crypto Owners

DIGIT — Wed, 19 Jan 2022 06:30:02 +0000

Anatoly Aksakov, head of the Financial Market Committee at the Russian parliament, has reiterated a warning for cryptocurrency investors and insisted that Russians owning coins should declare their digital assets. The parliamentarian also urged for the comprehensive regulation of crypto mining and taxation. Aksakov Warns Russian Crypto Investors They Can Lose Everything Russians have put […]

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Russia’s National Finance Association Calls for Legalization of Crypto Investments

DIGIT — Thu, 13 Jan 2022 20:30:04 +0000

The main finance industry association of Russia has urged authorities to reconsider a position against crypto investments in the nation’s financial market strategy. The organization insists that the crypto investments of Russians should be brought out of the “gray zone” instead of being banned. Finance Industry Body Urges Government to Regulate Operations With Crypto Assets […]

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Bank of Russia Sees No Place for Crypto in Financial Market, Finalizes Digital Ruble Prototype

DIGIT — Wed, 22 Dec 2021 13:00:07 +0000

In advance of presenting its comprehensive view on crypto regulations, the Central Bank of Russia has indicated that it sees no place for cryptocurrencies in the country’s financial market. The monetary authority also announced that the prototype of the platform for its own digital currency is already completed. Bank of Russia to Issue Report on […]

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Russians Have Invested Over $67 Billion in Cryptocurrency, Lawmaker Reveals

DIGIT — Tue, 21 Dec 2021 13:15:25 +0000

Interest in cryptocurrencies has been growing in Russia, not least among non-qualified investors. According to recently quoted estimates, Russians have already put more than $67 billion into the crypto market, the capitalization of which has increased significantly this year. Russians Spent Some 5 Trillion Rubles on Crypto Russian residents have swapped 5 trillion of their […]

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Russia to Allow Foreign Residents to Own and Use Digital Ruble

DIGIT — Mon, 13 Dec 2021 07:30:49 +0000

The central bank of Russia intends to ensure that the digital ruble is convertible to foreign currencies and can be used by non-residents. In a document devoted to the digitalization of the Russian financial sector, the regulator reiterates its concerns over the risks associated with cryptocurrencies and insists that state-issued digital currencies are safer. Bank […]

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Russian Parliament Sets Up Working Group on Cryptocurrency Regulations

DIGIT — Fri, 26 Nov 2021 13:00:43 +0000

A working group on cryptocurrencies and related activities will soon begin to meet at the State Duma, the lower house of Russian parliament. Its members are expected to take on the task of clarifying various regulatory aspects related to digital financial assets such as the legalization of mining and the introduction of taxation. Working Group […]

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Bank of Russia Pushes to Introduce Liability for Illegal Use of Digital Assets

DIGIT — Wed, 24 Nov 2021 22:30:00 +0000

The monetary authority in Moscow, the Bank of Russia, wants those who use cryptocurrencies against the law to be held accountable. The financial regulator has proposed the introduction of legal liability for some operations with digital assets which it considers illegal. Central Bank of Russia Aims to Prevent Circulation of Decentralized Currencies Cryptocurrencies in the […]

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Digital Ruble Poses Risks to Financial Sector and Security, Russian Lawmakers Warn

DIGIT — Sat, 20 Nov 2021 12:30:04 +0000

Russian parliamentarians have cautioned against risks associated with the introduction of a digital ruble. Among them are the likely increase of competition pressure on banks and new challenges that may arise in the field of information security. Financial Market Committee Sees Threats in Digital Ruble Project Russia’s digital fiat, currently under development, brings certain risks […]

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