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You Won’t Believe What Happens When Russia Tries to Create a Superpower Currency (And Why It’s About to Blow Up in Their Faces)

Crypto NewsCyprusEnforcement Directorate Barry Thompson October 26, 2024

A illustration of a person trapped in a digital cage surrounded by broken computer screens and financial charts going haywire, while a giant hammer labeled 'Cost' comes crashing down on top, with smaller banks represented as tiny figures running away from the chaos.

Russian Banks Baulk at Digital Ruble Implementation Costs: A Recipe for Disaster.

Source: bitcoin.com

Russian Banks Baulk at Digital Ruble Implementation Costs
https://news.bitcoin.com/russian-banks-baulk-at-digital-ruble-implementation-costs
Russian banks, particularly smaller ones, are unhappy about the high cost (between $1.25 million and $2 million) of integrating with the central bank’s digital ruble platform. This cost is seen as prohibitive for many banks, exceeding their IT budgets. The central bank has mandated different deadlines for various bank categories to offer digital ruble services, with smaller banks having the latest deadline in 2027. Russian banks have complained about the […]

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About the author

Barry Thompson

Barry’s crypto nightmare began when he bought Bitcoin at $3, thinking he’d stumbled upon the financial opportunity of a lifetime. He sold his stash at $100, only to watch in dismay as Bitcoin soared to absurd heights. Now, Barry channels his rage into scathing articles about the crypto circus, seething with resentment at the digital gold rush he barely missed. His motto: “I sold out at $100, but the joke’s on me because the real joke was believing in this absurd circus.”

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Disclaimer

The content presented on this site is intended solely for entertainment purposes and should not be taken as factual or reliable information. This site employs satire and humor to discuss global news, current events, finance, and cryptocurrency. The views expressed here are not meant to be taken seriously and do not represent the opinions of any individuals, organizations, or entities discussed.

Please be aware that the content may be exaggerated, fictionalized, or otherwise altered to create a comedic effect. It is not intended to provide financial advice, make accurate predictions, or offer any serious commentary on current events or financial markets.

Readers are encouraged to verify any claims or statements with credible sources and should not make any decisions based on the information provided here. This blog is not responsible for any actions taken based on its content. Always consult a qualified professional before making any financial or investment decisions.

Please do not hesitate to contact us if you have any questions or concerns.

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