The new development follows a rush of adjustments to the space around crypto and Web3 in Japan. The nation was known for having some of the strictest rules around cryptocurrencies, which might reduce their appeal. However, it has also recently relaxed a set of rules governing the launching of new currencies on recognized exchanges.<\/div><\/div><\/div><\/div><\/li><\/ul>\n\n\n\n

• The government of Japan has plans to make significant investments in Web3 and metaverse efforts, the prime minister of Japan said in a speech on October 3.<\/div><\/div><\/div><\/div><\/li><\/ul>\n\n\n\n

  See Related:<\/strong><\/em> Lazarus, The North Korean Hacker Group Involved In Recent Japanese Phishing Scam<\/a><\/p>\n","post_title":"Japanese Port City Aims To Be The Web3 Hub For The Country","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"japanese-port-city-aims-to-be-the-web3-hub-for-the-country","to_ping":"","pinged":"","post_modified":"2023-04-10 18:48:08","post_modified_gmt":"2023-04-10 08:48:08","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=7890","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":7466,"post_author":"7","post_date":"2022-09-29 18:13:14","post_date_gmt":"2022-09-29 08:13:14","post_content":"\n

  Russia plans to issue a Central Bank Digital Currency<\/a> (CBDC), the digital ruble, in mutual settlements with China. Anatoly Askakov provides a remarkable viewpoint in how this cryptocurrency will improve trade settlements in Russia amidst economic sanctions.<\/p>\n\n\n\n

  • Russia is currently facing harsh economic sanctions imposed by western countries, thus creating financial problems in international settlements. The head of the finance committee in Russia\u2019s lower parliament, Anatoly Aksakov, discusses the need to use cryptocurrency to solve payment issues.<\/li><\/ul>\n\n\n\n
    • Aksakov said that the next development phase of the digital ruble would be used for mutual settlement with China. He added that the digital direction is vital because financial flows can bypass systems controlled by unfriendly countries. Finally, he asserted that the digital currency settlement system would improve transaction efficiency, thus strengthening security and confidentiality.<\/li><\/ul>\n\n\n\n
      • Aksakov also described that America\u2019s control over the global financial system would cease as more countries adopt the use of digital currencies. Once Russia fully develops its digital currency system, Russia and China will engage in bilateral digital transactions. On the other side, China has begun using the digital yuan in international settlements.<\/a><\/li><\/ul>\n\n\n\n
        • With rising economic stagnation due to rising exchange rates, many countries will develop digital currency for their trade settlements. This new technology will make countries, including Russia, less dependent on Western-dominated payment channels such as the SWIFT system. In turn, many Central Bank experts are considering the new technology behind digital coins as they realize countries would deal directly with each other.<\/li><\/ul>\n\n\n\n

          See Related:<\/em><\/strong> Iran Set To Launch Its CBDC, Crypto Rial<\/a><\/p>\n","post_title":"Russia Is Considering Digital Ruble Settlements With China","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"russia-is-considering-digital-ruble-settlements-with-china","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/central-bank-digital-currencies-cbdcs\/","post_modified":"2023-04-10 18:52:39","post_modified_gmt":"2023-04-10 08:52:39","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=7466","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":7328,"post_author":"7","post_date":"2022-09-25 00:40:28","post_date_gmt":"2022-09-24 14:40:28","post_content":"\n

          According to reports, Russia is currently legalizing digital assets for cross-border settlements. This new policy was agreed upon by the Ministry of Finance and the Central Bank of Russia.<\/p>\n\n\n\n

          • The Russian Government is reversing its stance<\/a> on cryptocurrency. The country\u2019s deputy Finance Minister, Alexei Moiseev, believes the cryptocurrency market requires regulation. However, with new sanctions from foreign countries such as the UK, the US, and the European Union, they are considering making crypto legal for cross-border payments.<\/li><\/ul>\n\n\n\n
            • The ministry of finance in Russia still calls for regulation, so there is no room for laundering, paying for drugs, and other criminal activities. Moiseev describes this crypto adoption as a unique opportunity for Russian citizens to open cryptocurrency wallets.<\/li><\/ul>\n\n\n\n
              • He explained that the Central Bank of Russia would supervise the wallets opened by the citizens to ensure they are compliant with anti-money laundering legislation. Also, the entities must perform a know-your-customer<\/a> evaluation to know their clients.<\/li><\/ul>\n\n\n\n
                • Russia faces specific issues despite crypto adoption. Their major \u2018friendly\u2019 partner in trade is China, which has banned the use of cryptocurrency. This situation could limit the payment and transaction potential of cryptocurrencies.<\/li><\/ul>\n\n\n\n
                  • Many Russian citizens are using cryptocurrencies as a lifeline since the country\u2019s currency collapsed<\/a>. With the reports of the Russian Government adopting cryptocurrency, they can continue conducting business transactions without hindrance. Further development awaits all concerned parties regarding crypto adoption in Russia.<\/li><\/ul>\n\n\n\n

                    See Related:<\/em><\/strong> Will Russian Banks Blocked From SWIFT Turn To Crypto?<\/a><\/p>\n","post_title":"Russian Government To Legalize Crypto For Cross-Border Payments","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"russian-government-to-legalize-crypto-for-cross-border-payments","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/will-russian-banks-blocked-from-swift-turn-to-crypto\/","post_modified":"2022-09-25 00:41:39","post_modified_gmt":"2022-09-24 14:41:39","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=7328","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

  Previous 1 … 8 9 10 11 12 13 Next