Russian President Vladimir Putin

Russian President Putin Says US Dollar-Based Global Financial System Is Collapsing

Russian President Vladimir Putin has stated that the U.S. dollar-based global financial system is gradually collapsing. “After all, a currency is a derivative of the power of the economy of the country that issues this currency,” Putin noted, emphasizing: “The share of the American economy in world GDP is declining.” In contrast, the Russian president…

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Russia’s largest bank issued gold-backed digital financial assets

The issuance became the second major operations of the bank with the new class of assets. Russia’s largest bank Sber — formerly known as Sberbank — reported the first issue of gold-backed digital financial assets (DFAs). The bank considers DFAs to be a “great alternative” to investments amid dedollarization. On Dec. 26, Sber published the news about…

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Russia to Ban Banks From Using Messengers Like Telegram to Contact Customers

Financial institutions in Russia will not be able to communicate with clients through instant messengers based outside the country, local media revealed. A new law passed by the State Duma also prohibits banks from using chats to send personal data and payment documents. Bill Restricts Russian Banks and Brokers From Sending Sensitive Information Through Foreign…

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Russia’s President Envisions a Global Payments System With Blockchain Technology

Vladimir Putin thinks Russia could lead efforts to create a global payment system based on blockchain technology to escape from “the hand of a narrow club of states” Priorities change according to the events, and Russia’s president may be taking notice. In a recent speech at the Artificial Intelligence Journey 2022 international AI and machine…

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Bank of Russia Sets Out to Regulate Digital Asset Taxation, Exchange, Still Opposed to Crypto

The Central Bank of Russia supports the development of digital financial assets but remains opposed to legalizing crypto payments, its top management has reiterated. The monetary authority is now working on a set of regulatory proposals that will be submitted to parliament by the end of the year. Russia’s Central Bank Takes Legislative Initiative in…

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EU crypto sanctions against Russia have an unexpected enforcer

The Monetary Authority of Singapore says crypto exchanges in the country must comply with financial sanctions against Russia. The Monetary Exchange of Singapore (MAS), ​​the country’s central bank and financial regulator, reminded all authorized cryptocurrency exchanges in the country to comply with financial sanctions in place against Russia.  The statement came after research that revealed…

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