In 2020, the Bank of Russia, within the regulatory ‘sandbox’, tested three services related to the cryptocurrency market. This is reported in the regulator’s annual report.<\/p>\n
The pilot projects included a collective mining service for digital currencies, a payment service using digital currency, and a service for investing in digital currencies.<\/p>\n
The Bank of Russia did not disclose the results of the testing, but noted that if successful it would approve a ‘roadmap’ for bringing the services into the legal framework.<\/p>\n
Since the regulatory ‘sandbox’ was launched in April 2018, the Bank of Russia has received 70 applications from banks and fintechs to pilot financial services.<\/p>\n
As reported in December 2019, the Bank of Russia’s sandbox tested stablecoins.<\/p>\n
The prototype of the Bank of Russia’s own digital currency will be unveiled by the end of 2021. Testing of the digital ruble is planned for 2022<\/a>.<\/p>\n Subscribe to ForkLog news on Telegram: ForkLog Feed<\/a> \u2014 the full feed of news, ForkLog<\/a> \u2014 the most important news, infographics and opinions.<\/p>\n","protected":false},"excerpt":{"rendered":" In 2020, the Bank of Russia, within the regulatory ‘sandbox’, tested three services related to the cryptocurrency market. This is reported in the regulator’s annual report.<\/p>\n","protected":false},"author":1,"featured_media":42070,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[345,1198,1137,27,1336],"class_list":["post-42069","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-bank-of-russia","tag-crypto-payments","tag-cryptocurrency-mining","tag-russia","tag-sandbox"],"aioseo_notices":[],"amp_enabled":true,"views":"20","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/42069","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=42069"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/42069\/revisions"}],"predecessor-version":[{"id":42071,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/42069\/revisions\/42071"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/42070"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=42069"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=42069"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=42069"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}