Category: 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, […]

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Livecoin exchange goes offline after Bitcoin price reportedly exceeds $320K

Livecoin exchange goes offline after Bitcoin price reportedly exceeds $320K

Russian crypto exchange Livecoin claims that it has suffered a “carefully planned attack,” but some in the community suspect an exit scam. 9342 Total views 21 Total shares Livecoin, a lesser-known Russian cryptocurrency exchange, has abruptly halted operations in the aftermath of an alleged hacker attack on Christmas day. According to Livecoin’s main page, the […]

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Russia’s second-largest bank, VTB, pilots bank guarantees on blockchain

Russia’s second-largest bank, VTB, pilots bank guarantees on blockchain

Major Russian bank VTB uses a central-bank-backed blockchain to issue bank guarantees to local cellular network giant MTS. 2785 Total views 34 Total shares VTB, the second-largest bank in Russia after Sberbank, has piloted a new blockchain-based system to issue bank guarantees. According to an official announcement last Wednesday, VTB provided a blockchain-enabled bank guarantee to […]

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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 […]

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