News with the tag "ruble"

In the ever-turbulent world of digital currencies, where fortunes can be made and lost in the blink of an eye, the voice of caution often comes from the traditional financial sector. This time, it’s Elvira Nabiullina, the Governor of the Russian Central Bank , who has once again stepped into the lim...

In a surprising turn of events for the world of Central Bank Digital Currencies (CBDCs), Russia has decided to pump the brakes on the full-scale launch of its much-anticipated Digital Ruble . Initially slated for a broader rollout, the project will now remain in its pilot phase indefinitely. This ne...

On Wednesday, the Russian ruble surged to its strongest level against the US dollar in five months following the release of American teacher Marc Fogel. Fogel had been detained in Russia since 2021, and his release raised hopes among investors that it could signal an end to the ongoing war in Ukrain...

Russia’s largest bank has reportedly joined the country’s digital ruble pilot program ahead of a mid-2025 launch of the central bank digital currency (CBDC). The Russian news agency Interfax reports that Russia’s top financial institution , Sberbank, is now a participant in the program, which conduc...

In a bold move to modernize its financial system, Russia has introduced a bill to its State Duma that aims to make the digital ruble , the country’s central bank digital currency ( CBDC ), mandatory for banks and merchants. This legislative proposal also includes the implementation of a universal QR...

Russia is set to make the digital ruble mandatory for banks and large merchants by 2025, pushing widespread adoption through universal QR code payments. Russia Moves to Mandate Digital Ruble for Banks and Merchants A bill has been introduced to Russia’s State Duma that seeks to make the use of the d...

The Bank of Russia has recently made a bold move to safeguard its citizens and organizations against digital ruble and currency fraud. The financial institution has announced a new rule that empowers commercial banks to block digital ruble transactions suspected of fraud temporarily. The measure, se...

Russia has confirmed it’s still ditching the dollar for good in its trade with two of its biggest partners, China and India. President Vlad Putin says over 90% of its trade with China is now settled in national currencies—primarily rubles and yuan—while more than 50% of trade with India also bypasse...

Russian President Vladimir Putin acknowledged inflation as a major challenge for Russia during his annual “Direct Line” Q&A session on Thursday, describing the economy as “overheating.” Speaking to Russian citizens, Putin outlined the government’s efforts to address rising prices. “ There are some i...

Russia just put Bitcoin at the center of its economic chessboard. Earlier today, President Vladimir Putin signed a law that not only recognizes Bitcoin and other cryptocurrencies as legal property but also brings a lot of new regulations to the industry. The new law rewrites Russia’s Tax Code, turni...