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Russian Traffic to Global Crypto Exchanges Surges; Central Bank Warns of Western Sanctions Risk

[May 27, 2024 10:30 PM] The surge in Russian traffic to global cryptocurrency exchange platforms in the last two quarters has prompted officials to issue a warning about the risk of Western sanctions. According to a central bank study, Russian traffic to some of the…

Russian Crypto Exchange Unable to Process Withdrawals; Angry Users Try to Storm Offices

[May 1, 2024 5:20 AM] Approximately 50 users of Beribit, a Russian cryptocurrency exchange, recently tried to storm the company’s Moscow offices to demand their digital assets. Beribit’s management has attributed the delay in processing withdrawal requests to an audit…

Bank of Russia: Russians Transacted $51 Billion in Crypto During 2023

[Apr 2, 2024 3:46 AM] The Bank of Russia noted that Russian nationals transacted $51 billion (4.78 trillion rubles) in crypto during 2023. According to an annual report issued by the bank, its investigations found that volume flows equivalent to the number, especially…

Russia to Clarify Cryptocurrency Mining Gray Areas, Including Payments

[Mar 27, 2024 2:00 AM] Anton Siluanov, the finance minister of Russia, is prepared to discuss the gray areas surrounding cryptocurrency mining and the use of its proceeding for payments. In a recent lecture, Siluanov stated that the government needed to agree “on…

Russia Introduces Bill to Apply Money Laundering Controls to Digital Ruble Transactions

[Mar 20, 2024 1:30 AM] A group of lawmakers in Russia introduced a bill that would extend money laundering controls to digital ruble transactions. The proposal, spearheaded by the Chairman of the State Duma Committee on the Financial Market Anatoly Aksakov, establishes…

Russian Digital Ruble Pilot ‘on Track,’ Registers About 25K Transactions

[Mar 4, 2024 11:30 PM] Elvira Nabiullina, Governor of the Bank of Russia, stated that the current pilot test of the Russian digital ruble was “on track,” with several operations being tested, including opening wallets, and interactions with smart contracts…

Bank of Russia States Digital Ruble Pilot Will Continue Until the End of 2024

[Dec 11, 2023 3:30 AM] The Bank of Russia has offered an update on the future of the digital ruble pilot, the Russian central bank digital currency (CBDC). The bank’s press service clarified that the pilot will continue throughout 2024 and until the massification…

Bank of Russia to Develop Digital Ruble Payment System With the UAE

[Nov 11, 2023 3:30 AM] The Bank of Russia has announced it will create a joint payment system with the United Arab Emirates (UAE) using the digital ruble. Bank of Russia’s First Deputy Governor Olga Skorobogatova stated that the system would serve individuals and…

Expobank Issues First Tokenized Diamond Offering in Russia

[Nov 8, 2023 5:00 AM] Expobank, a large financial institution in Russia, has reportedly issued the first tokenized diamond offering in the country. According to local media, Expobank used the Multichain blockchain platform to issue these tokens, with each one of them…

Rosfinmonitoring: Crypto Popularity Soars in Russia, 185K Transactions Registered in 2023

[Nov 3, 2023 4:30 PM] Director of Rosfinmonitoring Yuri Chikhanchin referred to the rise in popularity that crypto is experiencing in Russia in a recent interview, stating that more than 185,000 cryptocurrency transactions were completed during the first nine months of…

Bank of Russia Digital Ruble Pilot Update: ‘Everything Going as Planned’

[Oct 3, 2023 1:30 AM] The Bank of Russia offered an update about the state of the digital ruble, the Russian central bank digital currency (CBDC), which is currently in a nationwide pilot. Elvira Nabiullina, governor of the Bank of Russia, stated that the pilot was…

Binance Ending Operations in Russia — Crypto Exchange to Focus on 100+ Other Countries

[Sep 28, 2023 9:00 PM] Crypto exchange Binance is closing down all exchange services and business lines in Russia. The company has entered into a sales agreement with Commex. A Binance executive explained that operating in Russia is not compatible with the…

Bank of Russia Governor Elvira Nabiullina: ‘Cash Is Not Going Away’

[Sep 18, 2023 11:30 PM] Elvira Nabiullina, Governor of the Bank of Russia, talked about the future of cash in the context of the digital ruble pilot currently being executed in the country. Nabiullina explained that physical money was not disappearing and that the future…