Cointime

Download App
iOS & Android

Russia’s non-cash turnover accounted for 64.2% in Q3 2023

According to a report by Glavportal, as cryptocurrency adoption increases and Russia prepares to launch its CBDC, more and more Russians are refusing cash and opting for "non-cash" payments. In the third quarter of 2023, non-cash turnover accounted for 64.2% of Russia's business, breaking the record of 63.3% set in the first quarter of the 2023 fiscal year. The authors of the study noted a +3.6% increase in the same period of the 2022 fiscal year. The Nenets Autonomous Okrug in the far north ranks first, with nearly 76% of payments made in non-cash form, followed closely by Yakutia and the Chechen Republic in Russia's Far East, with slightly over 75%.

Comments

All Comments

Recommended for you

  • $1.2 billion in notional value of BTC options and $930 million in ETH options are set to expire

    Greeks.live data shows that on May 17th, 18,000 BTC options with a put/call ratio of 0.63 and a maximum pain point of $63,000 (nominal value of $1.2 billion) will expire. Additionally, 320,000 ETH options with a put/call ratio of 0.28 and a maximum pain point of $3,000 (nominal value of $930 million) will also expire. Greeks.live states that this week, inspired by the meme stock craze in the US, BTC ETFs have seen significant inflows, causing BTC to surge above $65,000. However, the rest of the crypto market remains weak, with trading volume continuing to decline, and the divergence in the options data of BTC and ETH reflects this. Looking at the structure of bulk trades and market trades, the downward trend in IV for major deadlines has ended and entered a consolidation phase, with limited downside potential at present. BTC longs and shorts are relatively balanced, while the weak ETH price has led to a continuous decline in market confidence, with selling calls becoming the absolute main transaction.
  • Tether CEO: 1 billion USDT will be issued on Tron Network, but it has been authorized but not yet issued

    On May 17th, Tether CEO Paolo Ardoino announced that 1 billion USDT had been issued on the Tron Network early this morning Beijing time, but not yet released. This means that the amount will be used as inventory for the next issuance request and chain exchange.
  • The Hashgraph Association and QFC launch $50 million digital asset venture studio in Qatar

    The Hashgraph Association (THA) has announced a strategic partnership with the Qatar Financial Centre (QFC) to establish a $50 million digital asset venture studio called Digital Assets Venture Studio, which will support the development of decentralized finance (DeFi) solutions that comply with regulations and digital assets based on the Hedera distributed ledger technology (DLT) network. They will also invest in Web3 startups and DeFi projects supported by Hedera.
  • In the past 24 hours, the entire network has liquidated $159 million, and short positions have liquidated $114 million

    According to Coinglass data, there were liquidations of $159 million across the entire network in the past 24 hours, with long positions being liquidated for $44.75 million and short positions being liquidated for $114 million. Bitcoin liquidations were approximately $58.41 million and Ethereum liquidations were approximately $21.29 million.
  • Ethereum liquidity re-staking agreement TVL exceeds $10.1 billion, of which Eigenpie TVL exceeds $800 million

    According to DeFiLlama data, the current TVL of Ethereum liquidity re-staking protocol is 10.177 billion US dollars, of which the top five protocols ranked by TVL are:
  • Bitget Wallet launches $10 million ecosystem fund and plans to issue BWB tokens this quarter

    Bitget Wallet announced the launch of a $10 million ecosystem fund in collaboration with Onchain Layer. The ecosystem fund is denominated in Bitget Wallet's native token BWB, which is planned to be released this quarter. It is reported that BWB is the native token of the exchange's self-hosted wallet with the same name, similar to Trust Wallet's token (TWT). The new fund will accelerate the development of Bitget Onchain Layer and support project construction.
  • Yesterday, Tether issued $110 million USDT and redeemed $23 million USDT

    According to ChainArgos monitoring, on May 14th, Tether issued a total of 110 million USDT and redeemed 23 million USDT.
  • Russia to impose cryptocurrency restrictions, exempting miners and central bank projects

    Russia will implement cryptocurrency restrictions, exempting miners and central bank projects. Starting from September 1st, Russia will impose strict restrictions on the circulation of cryptocurrencies such as Bitcoin, only allowing the issuance of digital financial assets within its jurisdiction. Anatoly Aksakov, Chairman of the Financial Market Committee of the State Duma, led this initiative. This is part of a wider government effort to control the cryptocurrency ecosystem in the face of escalating geopolitical tensions. Aksakov stated that the upcoming legislation aims to restrict non-Russian cryptocurrency transactions to strengthen the dominance of the ruble. Meanwhile, recent reports indicate that Russian entities have used cryptocurrencies, particularly Tether's USDT, to purchase key components for military technology.
  • Russia’s Central Bank and Rosfinmonitoring unveil pilot of fiat-to-crypto tracking system

    According to reports, since 2023, Russia has been trying to track cryptocurrency transactions and their sources. The Russian Central Bank and the Federal Financial Monitoring Service (Rosfinmonitoring) revealed that there is currently a system that allows private banks to track the connection between fiat-based transactions and cryptocurrency business.
  • Market News: South Africa authorizes 75 companies as cryptocurrency service providers

    According to Jinshi news, South Africa has authorized 75 companies as cryptocurrency service providers.