The Central Bank of Russia is developing payment gateways with foreign payment systems and is currently working with Turkey in this area, according to Governor Elvira Nabiullina. Visa and Mastercard suspended Russian operations as part of sanctions over the war in Ukraine, causing problems for Russians visiting Turkey. Russia is exploring alternative options, including using prepaid cards or cards issued by the payment systems of respective nations. The Central Bank of Russia is also open to allowing experimental use of cryptocurrencies in foreign economic activities, but remains opposed to crypto payments within the country.

Binance has reportedly lifted the €10,000 limit it placed on Russian accounts in 2022, according to a report by local media outlet RBC. The technical support team of the crypto exchange confirmed that Russian users can now deposit beyond €10,000 on the platform and use them for trading. However, Binance Russian users are still restricted from peer-to-peer transactions in U.S. dollars and Euros, a blanket ban for all residents of Russia. Binance had imposed the restriction in April 2022, citing the EU's fifth package restrictions on Russia for its decision. The country's posture towards crypto remains unclear, as President Vladimir Putin signed a law banning local crypto payments.

The BRICS nations are focusing on increasing their international roles and “enhancing coordination on key multilateral platforms,” Russia’s Minister of Foreign Affairs reportedly revealed after a meeting with BRICS ambassadors. He stressed “the need for joint efforts to counter destructive actions aimed at destroying the established security architecture.”

Investors today are spending less time pouring over individual company balance sheets and are instead trying to predict how the Fed’s balance sheet is changing.

Digital asset exchanges must be obliged to provide user information to Russia’s law enforcement agencies, the country’s Prosecutor General Igor Krasnov has insisted.

Russia has become the world's second-largest provider of Bitcoin (BTC) mining power, generating 1 GW of mining power in Q1 2023, according to data from Bitriver. The US remained the leading country with 3-4 GW of mining capacity, while the Gulf countries ranked third with around 700 MW of combined power.

An increasing number of Russian households are holding more of their money in crypto wallets, according to a survey conducted by the Central Bank of Russia (CBR). The survey, which has been conducted biennially since 2013, found that Russian families now have more crypto assets than mutual funds and gold. The CBR surveyed over 6,000 households and 12,000 individuals across 32 regions in Russia, and the median average value of crypto holdings among Russian households in fiat currency is 17,500 rubles (about $225). Although only 0.4% of the families sampled had investments in cryptocurrency and Bitcoin, this figure is higher than the 0.3% recorded for households investing in mutual funds and gold.

The move comes as Australians continue to reduce their usage of cash and bank branches, but has sparked fears that the death of cash is near.

The BRICS alliance, made up of Brazil, Russia, India, China, and South Africa, is reportedly working on creating its own currency, according to State Duma Deputy Chairman Alexander Babakov. Speaking at an event in India, Babakov stressed the importance of both nations working towards a new medium for payments, adding that digital payments could be the most promising and viable. He also said the currency could benefit China, other BRICS members, and not the West. Babakov postulated that the new currency would be secured by gold and other commodities such as rare-earth elements. The move comes as China and Brazil reached a deal to trade in their own currencies, distancing themselves from the US dollar as the intermediary. (Cointelegraph)

OpenSea Teases April Integration of Solana NFTs; Russia Delays CBDC Pilot To Await New Law; Crypto Twitter, CEO “CZ” Refute China-Binance Link After US CFTC Suit