Search results for Central Bank of Russia
Crypto
Russia\'s largest bank Sber to support cross-border crypto payments with 0.3 percent fee
Russia\'s largest bank Sber has begun processing cryptocurrency payments for companies engaged in overseas trade. It said crypto wallet-to-wallet transfers can be completed in minutes rather than days and the average transaction cost is about 0.3 percent, with required banking and foreign-exchange control documents generated automatically. The move comes as Russia implements its digital currency law, which legalises crypto trading but keeps a domestic payment ban while allowing cross-border settlement.
Crypto
Russia partly legalises crypto investment and trading, bars domestic payments
Russia will partly legalise cryptocurrency investment and trading from Sept. 1 local time under a new law, while keeping a ban on crypto payments inside the country. Residents will be able to buy digital assets through intermediaries licensed by the central bank, and exchanges must obtain new approval and meet capital requirements. Limits will apply to non-professional investors. The law also allows crypto use for international settlements by Russian firms.
Crypto
Russia to roll out digital rouble payments from Sept 1; crypto payment ban remains
Russia will begin introducing digital rouble payments from Sept. 1 local time, but will keep prohibitions on using cryptocurrencies as a direct payment method. Major telecoms, online marketplaces and key banks are set to support the state-controlled digital currency, which becomes a third form of national money alongside cash and non-cash roubles. Laws set phased obligations for firms and banks to adopt the system, though surveys show limited consumer willingness to use it.
