Ex-BoE deputy governor headlines trio of former central bankers joining Fnality
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Russian Central Bank Governor: Digital ruble will be launched on September 1st.
PANews reported on July 3rd, citing Cointelegraph, that Elvira Nabiullina, Governor of the Central Bank of Russia, confirmed that the digital ruble will be launched as planned on September 1st, and is currently "all ready." The digital ruble will supplement the Russian legal tender ruble, initially accepted by financial and credit institutions. Development of this CBDC began in 2021, and the EU preemptively imposed sanctions on the digital ruble in April 2025 in response to Russia's war in Ukraine. Vladimir Chistyukhin, First Deputy Governor of the Central Bank of Russia, stated that the relevant laws for the digital ruble will take effect on September 1st, with a transition period until July 2027. In contrast, a US housing bill containing a CBDC ban has been submitted to Trump; if the president does not sign it within 10 days, it will automatically take effect, and the ban will last until 2030.
US media reveals inside story of the US-Iran ceasefire agreement: The Iranian president and central bank governor jointly urged the Supreme Leader to "sign it quickly."
According to a report by The New York Times on July 4th, citing four officials familiar with the details of the meeting, Iranian President Pezechzian visited Supreme Leader Mojtaba Khamenei during the final stages of negotiations when Khamenei hesitated to approve the preliminary ceasefire agreement. The Iranian president told the Supreme Leader that the economic situation was dire, the US naval blockade was strangling Iran, and he would resign if he rejected the agreement. Furthermore, the Governor of the Central Bank of Iran, Abdulnaser Hemmati, also wrote to Khamenei, stating that the country faced a severe budget crisis and that critical food and medical supplies would run out by the end of August if the naval blockade continued. Hemmati explained in the letter that Iran could not sell oil on the required scale or find alternative trade routes. These statements played a crucial role in Mojtaba's eventual decision to support the agreement. In a brief public statement, he stated that although he opposed the agreement "in principle," he instructed the president to proceed if he obtained the support of the Supreme National Security Council. Pezechzian stated that the council approved the agreement by 12 out of 13 votes.
Russian Central Bank Governor: Considering the use of stablecoins in cross-border settlements
According to Odaily Odaily, the Governor of the Central Bank of Russia stated at the Financial Congress that the Central Bank is considering using stablecoins in cross-border settlements, but only as a supplement to the digital ruble. The Central Bank of Russia has concerns about using stablecoins in internal settlements. The Central Bank of Russia is currently discussing the launch of a ruble-pegged, state-controlled stablecoin and analyzing the appropriateness of combining such instruments with central bank digital currencies in cross-border transactions. Furthermore, the Central Bank of Russia proposed stablecoin regulatory rules last week, the core idea of which is to ensure all transactions are conducted under state control.
Warsh appointed former Bank of England Governor Mervyn King to co-chair the Federal Reserve's new communications task force.
According to Mars Finance, on July 1, market sources reported that Federal Reserve Chairman Warsh appointed former Bank of England Governor Mervyn King to co-chair the Fed's new communications task force.
Coinbase CLO: Former U.S. Deputy Attorney General submits "masterpiece" supporting documentation in Kalshi lawsuit
Odaily Odaily reports that Coinbase Chief Legal Officer Paul Grewal stated that Prelogar, former U.S. Deputy Attorney General representing the Coalition for Prediction Markets, has submitted an amicus brief in support of Kalshi to the U.S. Court of Appeals for the Sixth Circuit, calling it a "masterpiece." Paul Grewal points out that the document not only outlines the historical context of the Commodity Futures Trading Commission's exclusive regulatory authority over prediction markets but also presents three key arguments: 1. Prediction markets can uniquely aggregate market information and transform it into simple price signals, which are then aggregated by market participants. 2. Prediction market users trade based on prices that market participants are willing to accept. They cannot control contract prices and bear a legal obligation to provide users with fair access to the contract. 3. The laws of various states in the United States are not suitable for regulating prediction markets because their core objectives are not to maintain a fair market, price discovery, information aggregation, risk hedging, or prevent market manipulation.
The Central Bank of Russia plans to implement a "cooling-off period" for cryptocurrency transactions, freezing funds for 48 hours after transfer.
PANews reported on July 3rd that, according to a report by Bits.media, Vladimir Chistyukhin, First Deputy Governor of the Central Bank of Russia, stated that the proposed cryptocurrency regulatory bill will establish a 48-hour "cooling-off period" for legitimate cryptocurrency transactions. This means that funds will be forcibly frozen for 48 hours after a transfer, limited to transfers between accounts only and excluding cryptocurrency brokerage services. This aims to protect non-professional investors from fraud. These provisions have been incorporated into the cryptocurrency market regulatory bill, which was originally scheduled to take effect on July 1st, but the second and third readings have been postponed, and it is expected to take effect on September 1st. Furthermore, Chistyukhin also stated that the Central Bank of Russia is discussing rules for Belarusian cryptocurrency companies to enter the Russian market.