Category: Bank of Russia

Digital ruble could be still vulnerable to fraud, Russian banks warn

Digital ruble could be still vulnerable to fraud, Russian banks warn

The Association of Russian Banks is worried about regulators being unable to track illicit transactions of an offline-enabled digital ruble. 3202 Total views 22 Total shares Russia’s central bank digital currency, or CBDC, could contain a number of risks related to cybersecurity and fraud, according to several local financial institutions. The Association of Russian Banks, […]

Continue Reading

Russia’s central bank digital currency: Prospects and problems

Russia’s central bank digital currency: Prospects and problems

Active digitalization of large domestic financial institutions is a noticeable, definitely positive trend. Russia is one of the five world leaders in the speed of transition to cashless payments, and the number of contactless transfers and payments are increasing every year. Such active development requires changes in legislation, and inevitably, many specialists and representatives of […]

Continue Reading

Russia’s central bank says the pandemic has accelerated regulators’ interest in CBDCs

Russia’s central bank says the pandemic has accelerated regulators’ interest in CBDCs

The pandemic-induced crisis is galvanizing new trends across all aspects of the global economy, including digital currencies. 2939 Total views 23 Total shares The COVID-19 pandemic has served both as an x-ray onto existing vulnerabilities in the global financial system, and as an accelerator for destabilizing tendencies, including higher sovereign and consumer debt in emerging […]

Continue Reading