idea – DIGIT INFO

Chinese Researchers Propose Asian Digital Currency to Reduce Reliance on US Dollar

DIGIT — Sat, 15 Oct 2022 21:30:49 +0000

Experts from an economic institute in China have circulated the idea of creating a blockchain-powered digital currency that could lower Asia’s reliance on the greenback. The initiative comes against the backdrop of an expanding digital yuan pilot, and after recent trials of cross-border payments with state-issued digital currencies in the region. China Suggests Minting Asia-Wide […]

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Russia Considers Using Cryptocurrencies for International Settlements

DIGIT — Sat, 28 May 2022 10:30:35 +0000

Authorities in Russia are mulling over the possible use of digital currencies for international payments, a high-ranking official from the finance ministry has indicated. If recognized as property, he noted, cryptocurrency can be utilized in barter deals with foreign partners. Finance Ministry Suggests Russia May Employ Crypto in International Trade The possibility of using cryptocurrencies […]

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Russian Bankers Suggest Criminalizing Crypto Storage in Non-Custodial Wallets

DIGIT — Wed, 20 Apr 2022 11:30:49 +0000

Keeping cryptocurrencies in non-custodial wallets may be criminalized in Russia, if authorities accept a proposal from the trade association representing Russian banks. While financial regulators think the idea deserves attention, lawmakers and experts doubt it’s possible to implement such a measure. Russian Banks Move to Curb Use of Private Cryptocurrency Wallets Challenges with foreclosure and […]

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Idea to Use Digital Ruble as Reserve Currency Circulated in Sanctioned Russia

DIGIT — Sun, 20 Mar 2022 09:30:50 +0000

A call to make the digital ruble a reserve currency has been issued in the State Duma, the lower house of Russia’s parliament. Meanwhile, concerns have been raised in the West that the new incarnation of the Russian fiat may be employed to evade sanctions that have been isolating the country. Digital Ruble to Serve […]

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Russian Officials Back Idea of Recognizing Crypto Miners as Entrepreneurs

DIGIT — Wed, 10 Nov 2021 11:30:07 +0000

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 […]

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Initiative to Curtail Negative Interest Rates Gains Traction in Germany

DIGIT — Sat, 24 Aug 2019 21:00:57 +0000

Negative interest rates, a common occurrence in Europe these days, are unpleasant for both banks and clients. And financial institutions have been increasingly transferring the bulk of the burden on to their customers. Some political factions in Germany, however, aren’t happy with the trend and are pushing for adequate protection for the ordinary small saver, […]

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