bank of russia Archive

A long-time member of the Russian State Duma has criticized the central bank’s approach to digital assets.

Top Russian bankers cite their reasons for not liking Bitcoin after Tinkoff’s CEO said that the central bank was stopping it from offering crypto trading services.

One of the biggest Bitcoin critics, Russian official Anatoly Aksakov said he wanted to buy Bitcoin before the ban but the price was too high.

According to Russian crypto advocates, the existing laws “do not meet the needs” of the cryptocurrency market.

The Bank of Russia hopes to complete a prototype platform for a digital ruble by the end of 2021.

Retail users may have to wait in much of the world, however.

Anatoly Aksakov of the Russian State Duma suggested that global jurisdictions should ban Bitcoin as a payment method.

The Association of Russian Banks is worried about regulators being unable to track illicit transactions of an offline-enabled digital ruble.

The digital ruble will, most likely, take the place of other forms of money, but the intrigue is which ones: non-cash or cash?

Russia’s central bank wants the digital ruble to help businesses by cutting out financial middlemen.

With new legislation on digital assets coming into effect in a month, Russian financial institutions are looking to act.

The Ministry of Finance is proposing harsh prison sentences for crypto holders, but what about shadow exchanges and darknet criminals?