Close Menu
  • Coins
    • Bitcoin
    • Ethereum
    • Altcoins
    • NFT
  • Blockchain
  • DeFi
  • Metaverse
  • Regulation
  • Other
    • Exchanges
    • ICO
    • GameFi
    • Mining
    • Legal
  • MarketCap
What's Hot

Bitcoin Hits $100K Again and Becomes the 5th Largest Asset

09/05/2025

Abraxas Capital Moves Over $75M in ETH from Major Exchanges and DeFi Protocols

09/05/2025

LLJEFFY tribute coin takes a 40% tumble after Zerebro founder was found alive at home

09/05/2025
Facebook X (Twitter) Instagram
  • Back to NBTC homepage
  • Privacy Policy
  • Contact
X (Twitter) Telegram Facebook LinkedIn RSS
NBTC News
  • Coins
    1. Bitcoin
    2. Ethereum
    3. Altcoins
    4. NFT
    5. View All

    Bitcoin Hits $100K Again and Becomes the 5th Largest Asset

    09/05/2025

    Bitcoin pushes past $102K as record ETF flows, trade news fuel rally

    09/05/2025

    On the Verge of History With Only 7.44% Left to Break All-Time High

    09/05/2025

    Bitcoin’s Latest Climb to $102,800 Fueled by Rush of Institutional Activity, Experts Say

    09/05/2025

    Abraxas Capital Moves Over $75M in ETH from Major Exchanges and DeFi Protocols

    09/05/2025

    Ethereum stalls at $1,850 resistance zone as volume dries up

    09/05/2025

    Ethereum Accumulators Increase Holdings by 22% in Face of Bearish Trend

    09/05/2025

    ETH Traders Eye Breakout as Ethereum Awaits Pectra Upgrade

    09/05/2025

    LLJEFFY tribute coin takes a 40% tumble after Zerebro founder was found alive at home

    09/05/2025

    VIRTUAL Token’s Surge Faces Scrutiny Amid Whale Control and Low Revenue

    09/05/2025

    Crypto Whales Bought These Altcoins in the Second Week of May 2025

    09/05/2025

    Hoskinson Says Starstream Could Be Central to Cardano Future

    09/05/2025

    Drink-to-earn? A new sparkling water comes with an NFT and points

    08/05/2025

    Cobie says UpOnly will return if someone buys this $20M NFT

    08/05/2025

    Edge Matrix, CoLabs Partner to Fortify NFT Creators

    08/05/2025

    Argentine Football Association Partners With STEPN to Launch Digital Sneakers

    05/05/2025

    Bitcoin Hits $100K Again and Becomes the 5th Largest Asset

    09/05/2025

    Abraxas Capital Moves Over $75M in ETH from Major Exchanges and DeFi Protocols

    09/05/2025

    LLJEFFY tribute coin takes a 40% tumble after Zerebro founder was found alive at home

    09/05/2025

    Why Europe is Becoming TradFi’s Favorite Crypto Playground

    09/05/2025
  • Blockchain

    Crypto developer activity returns to 2018 levels, Ethereum retains a significant share of innovation

    09/05/2025

    Vietnam Launches its First Homegrown Blockchain Network: Details

    09/05/2025

    Polygon and Conduit Introduce Agglayer CDK to Power the Next Generation of Web3 Chains

    09/05/2025

    Iberian Blackout Puts Blockchain to the Test

    09/05/2025

    What is BabyDoge Properties?

    09/05/2025
  • DeFi

    Unpacking the Trump Family Crypto Link

    09/05/2025

    Jupiter crypto jumps 11% as Solana’s DeFi ecosystem grows

    09/05/2025

    Jumper Exchange Launches High-APY DeFi Vaults with Morpho Labs and SeamlessFi

    08/05/2025

    DeFi needs a (healthy) dose of paranoia about risk management

    08/05/2025

    Why One of Uniswap DAO’s Most Outspoken Members Just Walked Away in Frustration

    08/05/2025
  • Metaverse

    Bitgert Partners DigiGoal to Launch ZK-Powered Sports Metaverse

    04/05/2025

    HAPE Social Partners with Decentraland to Bring Virtual Fashion at Metaverse Fashion Week

    06/04/2025

    Napster Snapped Up for $207 Million to Build Music Metaverse

    25/03/2025

    Shiba Inu Enhances SHIB Metaverse with In-Game Fishing Economy

    13/03/2025

    The Metaverse In-game Economy with Its Latest Fishing Game

    11/03/2025
  • Regulation

    Tether Awards Another $100,000 Grant to BTCPay Server Foundation, Reaffirming Its Commitment to Free and Open Source Software Development

    09/05/2025

    Trump Says Fed Chair ‘Is Not in Love With Me’ as Crypto Market Soars

    09/05/2025

    Coinbase Releases Highly Anticipated Earnings Report — Big Surprise Inside

    09/05/2025

    MicroStrategy’s Stock is up 75% in a Month As Bitcoin Hits $100,000 Again

    09/05/2025

    Dow gains 250 points, Bitcoin reclaims $100k after Trump promotes U.K. trade deal

    09/05/2025
  • Other
    1. Exchanges
    2. ICO
    3. GameFi
    4. Mining
    5. Legal
    6. View All

    Why Europe is Becoming TradFi’s Favorite Crypto Playground

    09/05/2025

    Bitcoin Exchange Upbit Announces It Will List This Memecoin On Its Spot Trading Platform! Here Are The Details

    09/05/2025

    Brazil’s B3 Stock Exchange to Launch Ether and Solana Futures

    09/05/2025

    Massive OKX USDT Transfer Sparks Mystery

    09/05/2025

    ICO for bitcoin yield farming chain Corn screams we’re so back

    22/01/2025

    Why 2025 Will See the Comeback of the ICO

    26/12/2024

    Soneium partners with Square Enix’s SYMBIOGENESIS to provide cross-game NFT rewards

    08/05/2025

    Versus Joins ION and Online+ to Elevate Web3 Gaming and Social Integration

    08/05/2025

    Adidas Reveals In-Game Apparel Drop for ‘Xociety’ Shooter on Sui

    08/05/2025

    Gaming Tokens Surge as Take-Two Rallies on Viral GTA 6 Countdown Post

    08/05/2025

    Bitcoin’s Hashrate Hits New Peak as Miners Ride Price Wave

    09/05/2025

    MARA Reports $214M in Q1 Revenue, Grows Bitcoin Holdings to 47,531 BTC

    09/05/2025

    CleanSpark Reports $181.7M in Q2 Revenue, Stays on Course to Hit 50 EH/s Bitcoin Mining Target

    09/05/2025

    Kuwait Escalates Illegal Crypto Mining Crackdown, Questioning 116

    08/05/2025

    Oregon passes bill to establish legal control standards for digital assets

    09/05/2025

    “Digital assets ARE the future. We either embrace them, or we lose”

    09/05/2025

    How the Democrats’ Path to 2026 Victory Goes Through Decentralized Crypto

    09/05/2025

    Judge tosses FTX claims against Tom Brady, Gisele, Steph Curry, and Kevin O’Leary

    09/05/2025

    Bitcoin Hits $100K Again and Becomes the 5th Largest Asset

    09/05/2025

    Abraxas Capital Moves Over $75M in ETH from Major Exchanges and DeFi Protocols

    09/05/2025

    LLJEFFY tribute coin takes a 40% tumble after Zerebro founder was found alive at home

    09/05/2025

    Why Europe is Becoming TradFi’s Favorite Crypto Playground

    09/05/2025
  • MarketCap
NBTC News
Home»Regulation»Russian Central Bank ‘Turning a Blind Eye’ to Crypto-powered Trade – Senator
Regulation

Russian Central Bank ‘Turning a Blind Eye’ to Crypto-powered Trade – Senator

NBTCBy NBTC04/03/2024No Comments3 Mins Read
Share
Facebook Twitter LinkedIn Pinterest Email


A Russian senator has claimed the nation’s Central Bank is “turning a blind eye” to firms that use crypto as a payment tool in international trade.

Russia’s CoinSpot quoted Ivan Abramov, the First Deputy Chairman of the Federation Council Committee on Economic Policy, as calling for regulation. Abramov told reporters:

“Cryptocurrency is […] being used in [cross-border] settlements, but the Central Bank pretends that it has no knowledge of such transactions. It would be better to regulate [the crypto sector] and set out certain rules for [the industry].”

Mainstream Russian media outlets such as Izvestia have reported a rise in smaller domestic importers and exporters turning to fiat-pegged stablecoins as payment tools.

Reports claim that Russian traders are now using cryptoassets “in parallel” with overseas currencies such as the Emirati dirham and the Chinese yuan.

🇷🇺 Russian Experts: 2024 Will Be a Big Year for Cross-border Crypto, CBDC Payments

Russian legal and tech experts think that 2024 will mark a turning point for the use of crypto and CBDCs like the digital ruble in cross-border payments.#CryptoNews #newshttps://t.co/qXfcrTdUwZ

— Cryptonews.com (@cryptonews) January 9, 2024

After being frozen out of USD-powered trade by United States and EU sanctions, many Russian firms have turned to crypto-powered alternatives.

Moscow also hopes to launch experimental CBDC-powered trade projects this year. The government hopes to use the digital ruble to trade with Beijing and other partners.

‘More Russian Trade Firms Now Turning to Crypto’

Abramov claimed there had been a “significant increase” in the use of crypto in Russia in “recent years.”

And he called on fellow lawmakers to adopt a comprehensive framework of crypto regulation “by the end of 2024.”

However, some feel that while smaller companies are embracing crypto pay, bigger Russian firms will shun tokens in favor of fiat.

🇷🇺 Russian Trade Ministry ‘Develops Tool That Lets Crypto Miners Evade Sanctions’

Russia’s trade ministry has developed a tool to help crypto miners evade Western sanctions.#CryptoNews #Russia #newshttps://t.co/nlfDfzoGaS

— Cryptonews.com (@cryptonews) November 15, 2023

Speaking to the radio station Vesti FM, Mikhail Burmistrov, the head of the B2B consultancy Infoline-Analitika, said “bigger” Russian firms would steer clear of crypto. Burmistrov said:

“Making settlements in cryptocurrency is certainly possible [for domestic players]. But this is very far from becoming a legal reality in Russia.”

Burmistrov added that “we can talk about some [smaller] parties here.” But he said “larger players will not actively use” crypto as a payment tool.

What Is the Russian Central Bank’s Stance on Crypto?

The Central Bank remains opposed to the use of crypto in the “domestic economy” and even wants to force industrial miners to sell their coins overseas.

The bank is headed by the long-serving Elvira Nabiullina, an arch-crypto skeptic and a close ally of President Vladimir Putin.

Nabiullina has previously said the bank wants to create an “experimental sandbox” for Russian firms who want to use crypto in settlements.

But a top MP last year claimed that Russian firms are not waiting for regulators to act.

Anatoly Aksakov, the Chair of the State Duma Committee on the Financial Markets, said domestic firms were “already” doing overseas business in crypto. Aksakov stated in June 2023:

“[Big Russian companies are saying: ‘We don’t even need a law [to carry out crypto transaction-powered business]. We know we are working within the existing legal framework and are not afraid of the consequences.’”

The Central Bank, meanwhile, wants to fast-track its digital ruble project. The bank hopes that the CBDC will provide an alternative to dollar- and crypto-powered business and trade – and is eyeing a 2025 rollout.

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email
NBTC

Related Posts

Tether Awards Another $100,000 Grant to BTCPay Server Foundation, Reaffirming Its Commitment to Free and Open Source Software Development

09/05/2025

Trump Says Fed Chair ‘Is Not in Love With Me’ as Crypto Market Soars

09/05/2025

Coinbase Releases Highly Anticipated Earnings Report — Big Surprise Inside

09/05/2025

MicroStrategy’s Stock is up 75% in a Month As Bitcoin Hits $100,000 Again

09/05/2025
Add A Comment

Comments are closed.

Top Posts
Get Informed

Subscribe to Updates

Get the latest news from NBTC regarding crypto, blockchains and web3 related topics.

Your source for the serious news. This website is crafted specifically to for crazy and hot cryptonews. Visit our main page for more tons of news.

We're social. Connect with us:

Facebook X (Twitter) LinkedIn RSS
Top Insights

Bitcoin Hits $100K Again and Becomes the 5th Largest Asset

09/05/2025

Abraxas Capital Moves Over $75M in ETH from Major Exchanges and DeFi Protocols

09/05/2025

LLJEFFY tribute coin takes a 40% tumble after Zerebro founder was found alive at home

09/05/2025
Get Informed

Subscribe to Updates

Get the latest news from NBTC regarding crypto, blockchains and web3 related topics.

Type above and press Enter to search. Press Esc to cancel.