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Russia’s central bank reported a record high of $207.7 billion in gold reserves for October. Gold’s share in Russia’s total international reserves rose from 31.5% in September to 32.9%, the highest level since November 1999, when it reached 34%. Historically, the gold proportion peaked at 56.9% on Jan. 1, 1993, and dropped to a low … Read more
A proposed BRICS digital asset platform could ignite unprecedented investment in South Asia, Africa, and Latin America, driving growth in emerging markets. Digital Assets at the Core of BRICS’ Ambitious New Investment Platform Russian President Vladimir Putin discussed the proposed creation of a BRICS investment platform to support developing markets at the Valdai Discussion Club’s … Read more
Kremlin spokesman Dmitry Peskov noted that the abuse of the U.S. dollar as a political instrument has caused other nations to be concerned about potential roadblocks to using the currency in the future. Kremlin Highlights Nations’ Concerns on the U.S. Dollar Weaponization The Kremlin has referred to the negative reactions that the current strategy surrounding … Read more
Anton Siluanov, Russia’s Finance Minister, has clarified how cryptocurrency will be utilized in the country’s financial system now that mining has become legal. Siluanov stated that international settlements will be the primary use case for crypto. Finance Minister States Russia’s Cryptocurrency Strategy Focuses on International Settlements Russia is now in the process of defining the … Read more
Russia is reshaping global finance, pivoting from the dollar to local currencies as more nations rally for alternatives to U.S. dominance in global transactions. A New Currency Frontier? Russia’s Strategy Signals Global Shift Kremlin spokesman Dmitry Peskov emphasized on Wednesday that Russia is not attempting to undermine the U.S. dollar, but instead is committed to … Read more
Ripple CEO loses his long-term bank account, Russia publishes new crypto law, BRICS payment system aims to be a SWIFT substitute, and more in this Week in Review. Week in Review Ripple’s CEO recently disclosed the closure of his 25-year-old bank account, citing his leadership role in a crypto firm as a potential cause. Russia … Read more
Russia’s sweeping crypto mining regulations took effect Nov. 1, transforming the industry with strict energy caps, mandatory registration, and stringent oversight. Russia’s Crypto Law Takes Effect, Sparking Changes in Energy and Oversight On Nov. 1, the Russian government introduced a regulatory framework for cryptocurrency mining, marking the implementation of a law signed by President Vladimir … Read more
Russia’s crypto mining laws have filled the “regulatory vacuum,” but there is still a lot of legal uncertainty about many aspects of regulation. Go to Source
Google faces a spiraling fine from Russia, surpassing two undecillion rubles and doubling weekly, with potential service blocks looming as tensions escalate. Google and the Unending Fine: How a 36-Digit Debt May Be Just the Start Tech giant Google now owes over two undecillion rubles to the Russian government, a 36-digit sum that doubles daily … Read more
Russia reveals that over 30 nations are pursuing deeper engagement with BRICS, aiming to finalize an expansion list by the year’s end amid unprecedented alliance growth. Russia Confirms Over 30 Countries Eye Deeper BRICS Alliance Russia plans to consult with over 30 countries interested in deeper engagement with the BRICS bloc by the year’s end, … Read more
