money surrogates – DIGIT INFO

Digital Ruble to Give Russians What They Need, Bank of Russia Governor Says

DIGIT — Thu, 11 Nov 2021 09:30:29 +0000

The digital ruble is what Russian citizens need as it will facilitate inexpensive and reliable payments, the head of Bank of Russia, Elvira Nabiullina, told participants in an international banking forum. The governor also warned that cryptocurrencies and fiat-backed stablecoins create risks for financial stability. CBR’s Nabiullina Praises Digital Ruble Concept, Rejects Cryptocurrencies The Central […]

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Digital Ruble to Help Curb Use of ‘Money Surrogates,’ Russia Says in Financial Strategy Document

DIGIT — Wed, 15 Sep 2021 05:30:20 +0000

The launch of a digital ruble will be among Russia’s key priorities of digitalization this decade, the country’s financial market development strategy has confirmed. The document claims the issuance of a digital national fiat will help the central bank to prevent Russians from using “money surrogates” as officials have previously called cryptocurrencies. Bank of Russia […]

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Russia Drafts Law to Criminalize the Use of Cryptocurrencies as Money

DIGIT — Tue, 06 Mar 2018 21:00:08 +0000

The Russian Ministry of Finance is drafting a law to criminalize the use of cryptocurrencies as money substitutes. The Bank of Russia and the finance ministry have previously opposed the use of cryptocurrency in this way, citing that only rubles can be used for payments of goods and services in Russia. Also read: Indians Look to […]

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