Bank of Russia Archives

Putin signs digital ruble bill into law, enabling CBDC in Russia

Business

James Field

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27 July, 2023

Putin signs digital ruble bill into law, enabling CBDC in Russia

Under the newly signed law, the Bank of Russia is tasked with storing digital ruble assets and will be the...

Business

Wahid Pessarlay

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20 July, 2023

Russia passes CBDC legislation as digital ruble pilot prepares for takeoff

The CBDC bill, supporting the creation of a digital ruble pilot, amended certain parts of the Russian civil code and...

Rosbank to allow use of digital currencies in settling cross-border transactions

Business

Wahid Pessarlay

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11 June, 2023

Rosbank to allow use of digital currencies in settling cross-border transactions

Russia pushes ahead with using digital currencies amid economic sanctions, with Rosbank devising plans to use them as cross-border transactions...

Russia’s parliament makes changes to its draft bill on CBDCs

Business

Wahid Pessarlay

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28 May, 2023

Russia’s parliament makes changes to its draft bill on CBDCs

The changes to the CBDC draft bill include debt operation, the Russian central bank’s participation, and the access of the...

Russia’s central bank to create block reward mining entities to circumvent sanctions: report

Business

Wahid Pessarlay

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23 April, 2023

Russia’s central bank to create block reward mining entities to circumvent sanctions: report

Bank of Russia Gov. Elvira Nabiullina told members of the State Duma that the banking regulator had approved a pilot...

Bank of Russia to pilot digital ruble with real transactions in April

Business

Wahid Pessarlay

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24 February, 2023

Bank of Russia to pilot digital ruble with real transactions in April

For the first time, Russia will move ahead with its central bank digital currency pilot program involving 13 banks and...

Russia studying CBDCs for cross-border payments amid tightening sanctions

Business

Wahid Pessarlay

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13 January, 2023

Russia studying CBDCs for cross-border payments amid tightening sanctions

Efforts to launch the digital ruble are already in place, with testing client-to-business (C2B) operations by selected financial institutions scheduled...

Russia reconsiders stance on use of digital assets after past prohibitions

Business

Wahid Pessarlay

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9 September, 2022

Russia reconsiders stance on use of digital assets after past prohibitions

Following a barrage of sanctions and an ongoing row with the West, Russia is reportedly seeking to diversify its payment...

Russia’s central bank opposes ‘overly risky’ private stablecoins

Business

Steve Kaaru

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16 July, 2022

Russia’s central bank opposes ‘overly risky’ private stablecoins

The Bank of Russia says that stablecoins are risky because the underlying pool of assets doesn’t belong to the user,...

Russian investors will have to take an exam to invest in digital assets

Business

Steve Kaaru

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24 February, 2022

Russian investors will have to take an exam to invest in digital assets

The Ministry of Finance submitted a new draft bill in parliament that will license exchanges, make Bitcoin a legal asset,...

Russian Finance Ministry introduces digital asset draft law despite central bank objection

Business

Steve Kaaru

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23 February, 2022

Russian Finance Ministry introduces digital asset draft law despite central bank objection

The Finance Ministry has opened a public feedback period until mid-March on a piece of legislation that will make Bitcoin...

Russia to treat Bitcoin as a currency, weeks after proposed blanket ban

Business

Steve Kaaru

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11 February, 2022

Russia to treat Bitcoin as a currency, weeks after proposed blanket ban

A new document by the Russian government, supported by the central bank, has dispelled fears of a blanket ban, weeks...

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