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BRICS Erodes US and EU Hegemony as Nations Seek Sovereignty and Equal Cooperation

[Oct 15 6:30 AM] BRICS is undermining the hegemony of Washington and Brussels as nations increasingly seek equal dialogue and cooperation that prioritize their own interests, according to Russia’s State Duma speaker. He stressed that countries are moving away…

Select Group of Russian Firms Authorized to Use Crypto for Chinese Imports Amid Sanctions

[Sep 29 2:30 AM] A select group of Russian companies, including electronics producers and financial institutions, has received approval to use cryptocurrencies for Chinese imports under a pilot legal framework. Overseen by Russia’s central bank and the Ministry of…

Moscow Exchange Opts out of Russia’s Crypto Trading Program

[Sep 9 5:30 AM] The Moscow Exchange (MOEX), Russia’s largest securities marketplace, will not participate in an experimental program for cryptocurrency trading, as confirmed by Nikolai Trunichkin, head of digital projects at the exchange. This decision…

State Duma Financial Market Committee Leader Envisions Bitcoin and Digital Ruble Exchanges

[Aug 2 10:30 PM] Anatoly Aksakov, chairman of the Financial Market Committee of the State Duma, the Russian equivalent to the U.S. House of Representatives, has predicted that bitcoin and digital ruble exchanges will become a reality in the coming years. Aksakov…

Russian State Duma Deputy Chairman: BRICS SWIFT Counterpart Needed for Creating a New Economic Reality

[Jul 27 7:20 PM] Alexander Babakov, Deputy Chairman of the Russian State Duma, highlighted the need to create a BRICS equivalent to the SWIFT messaging system, which routes payments alongside the current banking infrastructure. Babakov emphasized that this new…

Leader of Russian State Duma’s Financial Market Committee Labels ‘Hamster Kombat’ a ‘Scam’ and Calls for Its Termination

[Jul 22 11:30 PM] Anatoly Aksakov, the Chairman of the Russian State Duma Committee on the Financial Market, has stated that ‘Hamster Kombat’, a popular tap-to-earn game, should be stopped in Russia. Aksakov emphasized that ‘Hamster Kombat’ manipulates the psyche o

Cross-Border Digital Ruble Payments May Become a Reality in 2026

[Jul 22 3:30 PM] Generalized international settlements using the Russian digital ruble will not be available until 2026, according to statements from Anatoly Aksakov, Chairman of the State Duma Committee on the Financial Market. Aksakov stated that in 2025…

Potential Ban on Cryptocurrency Mining in Certain Regions Disrupts Regulatory Efforts in Russia

[Jul 18 4:30 PM] The potential for a ban on cryptocurrency mining in regions classified as ‘energy deficient’ has hindered the ability to reach a consensus on the approval of cryptocurrency mining regulations in Russia. The proposed bill, which is expected to pass…

Russia Considers Allowing Digital Currency Trading on the Country’s Largest Exchanges

[Jul 14 6:30 PM] The Russian Ministry of Finance has proposed permitting digital currency trading for a select group of qualified investors on licensed exchanges like the Moscow Exchange and St. Petersburg Exchange. Anatoly Aksakov, head of the State Duma Financial…

Russia to Enact a Ban on Domestic Operations Of Cryptocurrency Exchanges

[Apr 30 11:12 AM] Russia is preparing to enact a ban on the organization of cryptocurrency exchanges in the country via the approval of a bill that regulates mining activities. According to statements made by Russian Duma Financial Market Chairman Anatoly Aksakov…

Central Bank of Russia Discusses Digital Ruble Integration With Other Countries

[Jul 22, 2023 3:00 AM] The Central Bank of Russia (CBR) is already discussing the integration of its central bank digital currency (CBDC), the digital ruble, with other countries’ payment systems. Elvira Nabiullina, Governor of the CBR, declared the bank was…

Central Bank of Russia: Digital Ruble Could Be Launched as Soon as 2025

[Jul 8, 2023 5:30 AM] Olga Skorobogatova, first deputy chairman of the Central Bank of Russia, indicated that the launch of the digital ruble, the Russian central bank digital currency (CBDC), could happen in 2025. The pilot test for the CBDC will be organized later…

State Duma Chairman of Financial Markets Committee: Russia to Exert ‘Serious’ Control Over Crypto After Legalization

[Jun 28, 2023 12:00 AM] Anatoly Aksakov, chairman of the Financial Markets Committee of the State Duma, the lower chamber of the Federal Assembly in Russia, has remarked that the government intends to hold “serious” control over crypto after it is legalized…

Largest Russian Bank Sberbank Opens Developer Access to in-House Defi Platform

[Jun 2, 2023 1:30 PM] Sberbank, the largest bank in the Russian Federation, announced that it opened access to its in-house decentralized finance (defi) platform to allow developers to test its capabilities. Reports indicate that Sberbank’s Comunity, the…

Digital Ruble Law Likely to Be Passed in June According to Russian Official

[May 18, 2023 11:30 PM] The digital ruble law project, which was already discussed and approved in its first reading, could be passed in June, according to Anatoly Aksakov, chairman of the Duma’s Financial Markets Committee. The Bank of Russia is currently waiting for the…

Saudi Arabia Strengthens Bond With China by Joining SCO Bloc as Dialogue Partner

[Apr 8, 2023 11:30 AM] China’s relationship with Saudi Arabia is growing as the country’s Cabinet has agreed to join the Shanghai Cooperation Organization (SCO). The diplomatic move made by the kingdom began with a memorandum of understanding in September…

Saudi Arabia and OPEC Reveal Surprise Oil Production Cut; White House Insists Cuts Aren’t Advisable Right Now

[Apr 2, 2023 5:30 PM] On Sunday, Saudi Arabia and several major oil producers announced their plan to cut oil production by 1.15 million barrels per day, starting in May and continuing until the end of 2023. According to the Saudi Energy Ministry, the move was…

Russian Parliament Votes on Bill Opening Door for Digital Ruble

[Mar 18, 2023 1:30 AM] Russian lawmakers have approved a draft law facilitating the implementation of the digital version of the national currency, the ruble. The legislation amends various other acts to introduce definitions and establish procedures related to the…

Russia to Ban Banks From Using Messengers Like Telegram to Contact Customers

[Dec 25, 2022 12:30 AM] Financial institutions in Russia will not be able to communicate with clients through instant messengers based outside the country, local media revealed. A new law passed by the State Duma also prohibits banks from using chats to send personal data…

Russian Parliament Postpones Adoption of Crypto Mining Bill

[Dec 24, 2022 2:30 AM] Russian lawmakers will consider a draft law on cryptocurrency mining in 2023 despite earlier indications they were going to vote on the proposal in December. The bill is expected to set the rules for the extraction and sale of cryptocurrency in…

Bank of Russia Backs Crypto Mining Bill But Insists Minted Coins Should Be Exported

[Dec 10, 2022 5:30 AM] The monetary authority in Moscow has expressed support for the latest legislative attempt to legalize cryptocurrency mining. However, the regulator wants the extracted digital currency to be sold outside the country or only under special legal…

Russia Prepares to Create Government-Controlled Crypto Exchange

[Nov 24, 2022 8:30 AM] Lawmakers in Russia are drafting legislation that would allow the establishment of a “national cryptocurrency exchange,” local media unveiled. Coins now circulate outside of government oversight and the Russian state is losing budget revenues in…