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Russia’s Biggest Bank Considers Launching its Own Stablecoin

Shortly after Russia’s President Vladimir Putin signed the country’s recent cryptocurrency law, the country’s largest bank voiced its considerations. Sberbank, a state-owned company and the largest bank in Russia, is considering the possibility of issuing its own token, according to its key executives.Sergey Popov, Director of the transaction business at Sberbank, says that Russia’s banking giant is thinking of issuing its own stablecoin that could be pegged 1:1 to the Russian ruble, local news agency Kommersant reports on Aug. 4.Sberbank’s stablecoin would be compliant with recently passed crypto lawAccording to the report, the potential stablecoin could be used for settlements…

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Crypto As Payment Means Outlawed In Russia After Putin Law Signing

Vladimir Putin, the President of Russia, has recently signed a new law. This law will officially prohibit the usage of cryptocurrencies in order to facilitate payment within the country, and will be in effect by 2021. At the same time as this, Russia’s government has recently begun to utilize blockchain technology in order to facilitate its constitutional amendment Crypto Payments Illegal For Russia Come 2021 RIA, a local news outlet, went into detail on Friday about the matter. RIA explained that President Putin’s bill he just signed will see to the prevention of using crypto to pay for goods and…

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Updated Russian Crypto Bill Defangs Punishments for Using Crypto

Newest version of Russian bill “On Digital Financial Assets” does not criminalize crypto usage, but there is one more bill that might. A new version of Russia’s major draft bill on cryptocurrency regulation does not include criminal offence codes as lawmakers are expected to hold the bill's second reading tomorrow.According to official records of the State Duma, Russia’s legislative body, the Duma’s Committee on Financial Market has proposed the second reading of the bill “On Digital Financial Assets,” or DFA, on July 21.In the Russian legislation system, each bill is subject to three readings as it passes the development from…

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