Central issues: Russia’s National Bank started testing for its advanced ruble project on August 15, including 13 banks and select clients. The advanced ruble plans to improve cross-line installments and homegrown utilization. Russia prepares for computerized ruble reception, underlining staged testing and inescapable execution. The Bank of Russia (BoR) has unveiled its plans to commence testing the…
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Key Points: The Russian Central Bank’s Governor stated that trading firms will be permitted to use cryptocurrency for external settlements. The experiment will allow state-run institutions to participate in the first phase. Some businesses believe that they would be able to conduct business if they settled trade transactions in cryptocurrencies rather than US dollars. The…
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Key Ideas The group of bills pertaining to the digital ruble were approved in their first reading by members of the Russian State Duma. To provide definitions and establish procedures regarding the introduction of central bank digital currencies, the law amends numerous other statutes. The responsibility for keeping track of the money and ensuring its…
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