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Russia to Launch Digital Ruble Transactions With Real Users in August
27.7.2023
Banks taking part in the digital ruble pilot will begin testing transactions with actual clients in mid-August, according to a top executive of one of the financial institutions. The trials are set to start weeks after Russia adopted dedicated legislation for the introduction of its new digital...
Russian Regions Welcome Digital Ruble Developments – But When Will CBDC Debut?
27.7.2023
Russian regions are welcoming news that the nation’s digital ruble pilot is set to officially launch on August 1, but banks and officials claim that a full CBDC rollout may not come until 2027.
Ludmila Panina, the head of the payment systems and settlements department at the Chelyabinsk Branch...
Russian CBDC Pilot Launch News Draws Mixed Reactions from Biz Community
27.7.2023
The Russian business community and financial experts have spoken about the potential pitfalls – and possible advantages – of a digital ruble as Moscow prepares for the August launch of a CBDC pilot.
Izvestia quoted Sergey Katyrin, the President of the Russian Chamber of Commerce and Industry,...
Deeper Ties With BRICS Should Not Jeopardize Relations With the West — South African Business Association Leader
26.7.2023
South Africa’s economic well-being is dependent on trade relations with the West, and therefore attempts to bolster relationships with BRICS must not be at the expense of ties to the West, the leader of a South African business association has said. The leader also singled out the African...
Russian President Vladimir Putin States Emergent Multipolar World Order Will Be ‘More Just’
26.7.2023
In a recent article, Vladimir Putin, President of the Russian Federation, outlined his thoughts about the emergence of a new multipolar world order. Putin explained this new configuration will allow different regions, including Africa, the Middle East, and Latam, to assume their roles in a...
Putin Signs Digital Ruble Law Allowing CBDC Payments in Russia
26.7.2023
President Vladimir Putin has signed into law a bill on the introduction of the digital ruble in the Russian Federation. The new legislation, which legalizes and regulates the use of Bank of Russia’s digital currency for payments and other transactions, will enter into force on Aug. 1. President...
Latam Insights — Argentina Reaches IMF Agreement, Bitfarms to Open New Mining Operations in Paraguay
25.7.2023
Welcome to Latam Insights, a compendium of Latin America’s most relevant crypto and economic news during the last week. In this issue, Argentina reached a new agreement with the International Monetary Fund (IMF), Bitfarms will open two bitcoin mining farms in Paraguay, and Venezuela is...
Putin Signs Digital Ruble Law, Greenlighting Russia's Central Bank Digital Currency
25.7.2023
Russian President Vladimir Putin has officially signed a bill that will introduce a digital version of the country's national currency.
The move gives legal authority to the Bank of Russia, the country's central bank, to act as the platform operator for the digital ruble, according to an official...
Russian Ruble Falls by Over 18% in 2023, Economist Says the Currency Has ‘Stabilized’
25.7.2023
After the Russian currency touched a year low versus the greenback of nearly 92 units for every dollar, economist Robin Brooks said the ruble has stabilized and may eventually be lifted by rising oil prices. The Institute of International Finance Economist urged G7 countries to consider cutting...
Economist Jim Rickards States BRICS Currency Will Leverage Gold to ‘Destroy the Dollar’
25.7.2023
Jim Rickards, economist and best-selling author, has explained the possible repercussions of issuing a BRICS bloc currency for the dollar. For Rickards, the “bric” (the name he gives to the BRICS currency) will be anchored (but not redeemable or backed) to a weight of gold and will...
Top Lawmaker Suggests China and Russia’s CBDCs Are ‘Compatible’
25.7.2023
A leading Russian lawmaker says China and Russia’s CBDCs may be “compatible” and could be used to make international payments between the nations.
Per RBC, the comments were made by Anatoly Aksakov, a member of the State Duma from Chuvashia’s Kanash constituency and the Chairman of the State Duma...
Putin Signs Digital Ruble Law Making a CBDC Possible in Russia
24.7.2023
The new law describes a legal framework for a central bank digital token
Putin signs law on introduction of digital ruble in Russia
24.7.2023
Russian citizens will not be forced to use the digital ruble, and use of the CBDC will be a voluntary choice for people to make, Bank of Russia governor said last week
Next Year’s BRICS Summit to Gather More Than 5 Leaders, Russian Diplomat Predicts
24.7.2023
Moscow expects the number of leaders participating in the 2024 BRICS summit to be greater than five, according to a high-ranking Russian diplomat. The statement comes as the five-member organization prepares to discuss its enlargement at its meeting at the top this year, with dozens of nations...
Singapore, US With Highest Public Debt per Capita, China Most Indebted in BRICS: Study
23.7.2023
Singapore, the United States and Japan top the global chart in terms of sovereign debt per capita, according to research based on U.N. data. The burden of government debt for every American is 10 times heavier than that for a Chinese citizen, according to the study. U.S. Ranks Second in the World...
BRICS Currency Not on Agenda for Leaders’ Summit — Nations to Focus on De-Dollarization
23.7.2023
The heavily anticipated BRICS currency is not on the agenda to be discussed at the economic bloc’s upcoming leaders’ summit, according to South Africa’s diplomat in charge of BRICS relations. He clarified that the BRICS members will focus on de-dollarization and promoting the use of national...
Central Bank of Russia Discusses Digital Ruble Integration With Other Countries
22.7.2023
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 exploring different possibilities of integration with...
Kids Won’t Be Able to Spend Mom’s Digital Ruble as They Wish, Russian Official Says
21.7.2023
The new form of Russia’s fiat, the digital ruble, will make spending more efficient for both government and family budgets, according to a high-ranking lawmaker. Anatoly Aksakov, who was involved in the recent adoption of the new digital ruble legislation, highlighted some of the advantages...
1.3m+ Crypto Phishing Attacks Foiled in Russia So Far This Year – Kaspersky
21.7.2023
More than 1.3 million crypto-related phishing attacks were stopped in Russia in the first six months of this year, a new report has claimed.
Per Plus World, the cybersecurity provider Kaspersky Lab claimed its solutions thwarted the attacks, which the firm thinks are a direct response to a rise...
‘Historic’ BRICS Summit to Be Held Without Putin in Person
20.7.2023
Russian President Vladimir Putin will not travel to Johannesburg for the BRICS summit in August, according to the office of his South African counterpart. Moscow will send Foreign Minister Sergey Lavrov instead, the Kremlin confirmed, emphasizing that Putin will join the event via video link. Putin...