10 Jun 2021 - 9:28
Henk J Hoogendoorn, Managing Director of Financial Sector Office, QFC, with an official during SPIEF.
The Peninsula
Doha: Represented by a high-level delegation at the 24th edition of St. Petersburg International Economic Forum (SPIEF) 2021, signed six Memorandums of Understanding (MoUs) and one Letter of Intent with leading organisations from Russia’s investment, technology, and innovation ecosystem, aimed at promoting investment in Qatar’s wider business landscape.
The diverse range of MoUs, inked during SPIEF 2021, focus on strengthening the long-term strategic business and investment exchange between Qatar and Russia. The agreements were signed with Moscow Innovation Cluster Fund, Internet Initiatives Development Fund, QR Sports, Business Russia, Qatar Russia Investment and Trade Advisory, Roscongress Foundation, and a Letter of Intent with Skolkovo Foundation.
/PRNewswire/ Hyperledger, an open source collaborative effort created to advance cross-industry blockchain technologies, today announced news from across.
Russian Lawmakers Move to Allow Crypto Payments Under Contracts
Members of the State Duma are now working on amendments that will permit the use of cryptocurrency as a contractual means of payment. Digital financial assets are regarded as property under Russian law and the changes will legalize crypto payments between parties to a contract.
State Duma to Amend Civil Code to Legalize Contractual Crypto Payments
The lower house of Russia’s parliament, the Duma, is gearing up to remove barriers to using cryptocurrencies in contract payments. The proposals are subject to an ongoing review but according to the chairman of the Committee on Legislation, Pavel Krasheninnikov, there is consensus on the matter. Speaking at the St. Petersburg Legal Forum, the lawmaker stated:
Bank of Russia Tests Services Related to Cryptocurrencies
Russia’s central bank has examined three platforms offering crypto-related services. The projects have been tested in its regulatory sandbox in the course of 2020. Bank of Russia has received dozens of requests to pilot various financial services since it created the closed regulatory environment around three years ago.
CBR Pilots 3 Crypto Projects in 2020
The Central Bank of the Russian Federation (CBR), also known as Bank of Russia, launched the sandbox back in 2018, when developments in financial technology and decentralized digital assets presented regulators with a new set of challenges. Since the start of the initiative, over 70 entities, including financial institutions and fintech companies, have asked the regulator to test their new products, services, technologies, and business models.
News
Russian President Vladimir Putin has stressed the importance of developing additional measures to fight against illegal cross-border transactions of digital financial assets.
Speaking at a board meeting of the General Prosecutorâs office Wednesday, Putin stated that âcriminal elements have been increasingly deploying digital financial assets,â which needs special attention from the government.
âThere is one more point â quite new, but essential: we should take additional measures to suppress illegal cross-border movement of digital financial assets,â Putin said. The President ordered local enforcement as well as the Federal Service for Financial Monitoring, or Rosfinmonitoring, to give all their attention to this issue.