Coinbase, a crypto exchange, has been fined 1 million rubles ($11,000) by a Russian court for failing to localize Russian users' data within the country. This is part of a trend of Russia imposing fines on international technology companies for various violations, seen by some as an attempt to gain more control over the internet. Other companies that have been fined for similar reasons include Google, Apple, Spotify, WhatsApp, Airbnb, Zoom, and Telegram. Russia's internet and communications regulator, Roskomnadzor, had ordered foreign internet companies to localize Russian users' data by July 1, and around 600 companies had complied by that deadline.

The Central Bank of Russia has announced that it will collaborate with the United Arab Emirates (UAE) to create a joint payment system using digital rubles. The system will provide services for individuals and businesses and is expected to take one year to develop.

Russia has started consumer testing of the digital ruble, becoming the 21st country in the world to test digital currencies. The Russian central bank stated that the test is being conducted at 30 sales points in 11 Russian cities, with the participation of 13 banks and 600 individuals. Russia's second largest bank, VTB, said it has successfully tested digital ruble transactions in its mobile app. The central bank hopes to officially launch the digital ruble around 2025-2027, but promises not to force people to use it.

Olga Skorobogatova, Deputy Governor of the Central Bank of Russia, announced that Moscow, the capital of Russia, and 10 other cities will hold a pilot test of the digital ruble. Dozens of Russian banks will participate in the experiment and plan to start actual transactions and user testing in mid-August. The deputy mayor in charge of transportation in Moscow pointed out that the capital's subway has always been an innovative test field. He added that local authorities plan to launch digital ruble ticket sales in the Moscow subway.

Thirteen banks in Russia, excluding Sberbank and Tinkoff, will participate in a pilot testing program for the digital ruble, a central bank digital currency approved by President Vladimir Putin in July. The testing will involve real-world transactions at 30 points of sale in 11 Russian cities. The pilot program aims to ensure that the infrastructure surrounding the CBDC is functioning and user-friendly before rolling it out for retail and business use.

According to a report by blockchain intelligence firm Crystal Blockchain, Ukraine has received $225 million in cryptocurrency donations since the start of Russia's invasion last year. These donations have been used to purchase crucial war supplies such as weapons, ammunition, and medical equipment. While the total amount of crypto donations has continued to increase, the monthly donation amounts have stagnated since late 2022 and never exceeded $10 million a month since May 2023. The majority of donations were in the form of USDT, followed by ether and bitcoin, and were primarily for humanitarian initiatives rather than military-oriented campaigns. On the other hand, Russia's military and paramilitary units have also been using crypto to receive material support, but these fundraising efforts have been more clandestine and have raised much smaller amounts.

Anatoly Aksakov, a leading Russian lawmaker, has suggested that China and Russia's CBDCs could be made compatible for international payments between the two nations. Aksakov, who is the Chairman of the State Duma Committee on the Financial Markets, made the comments at a CBDC-related forum. He also stated that the digital ruble could be used for international payments and that it was necessary to introduce the new currency to the country in stages. Additionally, Denis Polyakov, the Deputy Director of the Department of the Russian Central Bank's National Payment System, claimed that the digital ruble would allow domestic businesses to reduce costs and ordinary citizens to make quick transfers without commission.

Kaspersky Lab, a cybersecurity provider, has reported that over 1.3 million crypto-related phishing attacks were stopped in Russia during the first half of 2021. The firm believes that the attacks are a direct response to the growing popularity of cryptocurrencies in Russia, which has led to an increase in crypto-powered remittances and businesses turning to crypto as a payments tool. Cybercriminals are targeting Russian crypto wallet holders with bogus offers of free crypto handouts and impersonating well-known cryptocurrency exchanges to harvest login and password data from users. Kaspersky Lab researchers have also discovered a targeted phishing campaign that attempts to dupe hardware wallet users.

Russia may start testing its Central Bank Digital Currency (CBDC), the Digital Ruble, as early as next month if approved by the upper parliament and signed into law by President Vladimir Putin, according to Bloomberg.

The Russian Prosecutor-General has suggested that the central banks of Russia and China should work together on regulating their respective central bank digital currencies (CBDCs). This comes after the State Duma approved a bill allowing the Russian Central Bank to begin testing its digital ruble with 13 domestic commercial banks next month.