Global #Russia

Russia's central bank digital currency (CBDC), the digital ruble, has hit a snag on its road to international integration. A recent statement by a Russian lawmaker revealed that the digital ruble won't be ready for cross-border transactions until 2026.

Russian authorities have cracked down on cryptocurrency mining in a recent raid, seizing a staggering 500 crypto mining rigs from a facility believed to be a major Bitcoin mining hotspot.

In a move to counter the effects of Western sanctions, Russia has unveiled a new crypto payments system designed to facilitate cross-border transactions.

Russia is reportedly taking significant steps towards integrating Bitcoin and other cryptocurrencies into its financial system. The Russian Ministry of Finance, in collaboration with the Moscow Stock Exchange and the St. Petersburg Stock Exchange, has proposed allowing traditional exchanges to offer cryptocurrency trading services to qualified investors.

In a long-awaited move, Russia's proposed bill to regulate cryptocurrency mining is finally set to be introduced in parliament.

The Central Bank of Russia is gearing up for a broader rollout of its digital currency, the digital ruble. The pilot program, which began in August 2023 with a limited number of banks and clients, is set to expand in September 2024.