• The Bank of Russia announced that transactions with the digital ruble will be free until 2025.
• After 2025 businesses and legal entities transacting with the CBDC will need to pay a small fee for usage.
• Russian citizens can enjoy free payments and transactions in the digital ruble.
Bank of Russia Launches Digital Ruble
The Bank of Russia recently announced plans to launch a national digital currency, the Digital Ruble. Transactions made using this new form of money would be free until 2025, incentivizing Russians to use it. After this period, businesses and legal entities transacting with the Central Bank Digital Currency (CBDC) would be charged a small fee for their usage.
Free Transactions Until 2025
The Bank of Russia stated that transactions in the Digital Ruble currency would be free until 2025. Businesses accepting payments for goods and services in digital rubles would be charged 0.3% per transaction, but no more than ₽1,500. Companies providing housing and communal services will have a tariff of 0.2%, but not more than ₽10; transfers between legal entities will cost 15 rubles per transaction.
Incentive For Citizens To Use The Digital Ruble
Russian citizens are also encouraged to use the digital ruble as all payments and transactions made with it are free for them as well. This is part of an effort by the bank to encourage people to adopt this new form of money over traditional currencies like cash or credit cards.
SEC Lawsuit Causes Token Removal From MetaMask And Uniswap
Hex has lost $500M in market cap after SEC lawsuit; token removed from MetaMask, Uniswap due to ongoing investigations by US Securities & Exchange Commission (SEC). This is just another example of how regulatory bodies are clamping down on cryptocurrency-related activities that they deem illegal or risky for investors’ interests.
Asset Managers Express Interest In Ethereum Futures ETFs
Asset managers’ interests have started to pivot towards Ethereum futures ETFs as more institutional investors seek ways to participate in cryptocurrency markets without having direct ownership over assets or taking on custodial risks associated with holding virtual currencies themselves. As such, platforms like CME Group and Bakkt have seen increased demand from institutional investors interested in participating through these investment vehicles instead of buying actual cryptoassets directly from exchanges or wallets like MetaMask or Uniswap