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Russian Cybercriminal Extradited to US in Crypto Crime Case
26.8.2024
A Russian cybercriminal, Deniss Zolotarjovs, has been charged in the U.S. with crimes related to his involvement in a cybercrime organization known for extorting victims and laundering cryptocurrency. The 33-year-old Moscow resident was indicted in Cincinnati, Ohio, on charges of conspiracy...
Russian Finance Minister Discloses That Over 90% of Bilateral Trade With China Is Settled Outside the U.S. Dollar System
20.8.2024
Anton Siluanov, the Russian Finance Minister, pointed out that a majority of the bilateral trade with China is being conducted outside the U.S. dollar system. He stressed that over 90% of these transactions have been completed using national currencies (rubles and yuan) due to the risks associated...
While Useful, Bitcoin Will Not Replace the U.S. Dollar, Russian Analyst Warns
16.8.2024
Viktor Pershikov, a Russian expert in financial markets, has explored the opportunities that crypto and bitcoin will bring to Russia following the laws approved recently by President Putin. Pershikov stated that, while some cryptocurrencies present interesting opportunities as payment tools...
BRICS Countries Deem US Dollar Less Important in Global Trade, Says Indian Expert
14.8.2024
The vice chairman of the BRICS Chamber of Commerce and Industry, Sameep Shastri, has highlighted the economic bloc’s shift away from reliance on the U.S. dollar, opting instead to trade using their national currencies like the Russian ruble, Indian rupee, and Chinese yuan. He underscored...
BRICS Advances Toward Independent Digital Payment Platform, Russian Official Says
4.8.2024
The BRICS economic bloc is progressing towards a digital payment platform, Russia’s Federation Council Speaker Valentina Matviyenko has revealed. The initiative, named BRICS Bridge, aims to establish an independent financial system. This system could mitigate dependency on Western...
Russian Diplomat: El Salvador Proposes Settling Trade With Crypto
31.7.2024
El Salvador has proposed using cryptocurrency as an alternative payment method for trade with Russia. The Central American nation has reportedly expressed interest in joining the BRICS bloc and may formally apply for membership within one or two years. Ukraine-Russia Conflict Echoes in Central...
Russian State Duma Deputy Chairman: BRICS SWIFT Counterpart Needed for Creating a New Economic Reality
28.7.2024
Alexander Babakov, Deputy Chairman of the Russian State Duma, highlighted the need to create a BRICS equivalent to the SWIFT messaging system, which routes payments alongside the current banking infrastructure. Babakov emphasized that this new system would help to reduce the dependence on Western...
BRICS Poised to Dominate World Bank and IMF, Says Russian Executive Director
27.7.2024
The World Bank Executive Director for Russia forecasts that BRICS nations will soon dominate the World Bank and the International Monetary Fund (IMF), attributing this shift to inevitable macroeconomic and demographic changes away from Western dominance. He emphasized the importance of working...
BRICS Considers Iran’s Proposal to Link Payment Systems of All Member Countries, Says Russian Official
27.7.2024
The BRICS economic bloc is considering Iran’s proposal to link all member nations’ payment systems, according to Russian Deputy Foreign Minister Andrey Rudenko. The proposal aims to enhance BRICS countries’ financial sovereignty by establishing a resilient and sanctions-resistant...
Russian-Speaking Groups Responsible for Majority of Crypto Ransomware Attacks in 2023: TRM Labs
25.7.2024
Inflows to Russia-based crypto exchange Garantex accounted for 82% of the crypto volumes that belonged to sanctioned entities internationally, the report added
EU to Send Ukraine 1.4 Billion Euros From Frozen Russian Assets
24.7.2024
The European Union (EU) is set to provide Ukraine with 1.4 billion euros ($1.52 billion) in military aid, sourced from the interest on frozen Russian assets. This decision, announced by EU High Representative for Foreign Affairs and Security Policy Josep Borrell during a Council on Foreign Affairs...
87% of Russians Aware of Cryptocurrency, 42% Familiar With Hamster Kombat, Survey Shows
24.7.2024
A survey by the All-Russian Public Opinion Research Center reveals high awareness of cryptocurrency among Russians but limited knowledge of the Telegram game Hamster Kombat. Despite 87% being aware of cryptocurrency, only 42% know of Hamster Kombat. The game’s popularity is mainly among...
Leader of Russian State Duma’s Financial Market Committee Labels ‘Hamster Kombat’ a ‘Scam’ and Calls for Its Termination
23.7.2024
Anatoly Aksakov, the Chairman of the Russian State Duma Committee on the Financial Market, has stated that ‘Hamster Kombat’, a popular tap-to-earn game, should be stopped in Russia. Aksakov emphasized that ‘Hamster Kombat’ manipulates the psyche of citizens, leading them to believe that they...
Russia Considers Allowing Digital Currency Trading on the Country’s Largest Exchanges
15.7.2024
The Russian Ministry of Finance has proposed permitting digital currency trading for a select group of qualified investors on licensed exchanges like the Moscow Exchange and St. Petersburg Exchange. Anatoly Aksakov, head of the State Duma Financial Market Committee, believes Russia’s largest...
US Treasury ‘Very Attentive’ to Russia’s Use of Cryptocurrency, Yellen Says
15.7.2024
U.S. Treasury Secretary Janet Yellen has addressed concerns about Russia using cryptocurrency to evade sanctions. During her testimony before the House Financial Services Committee, Yellen acknowledged the potential threat, noting that while it may not be a significant issue now, it could become...
Russian Senate Leader Predicts Use of CBDCs in BRICS Payment System
14.7.2024
Valentina Matvienko, Chairman of the Russian Federation Council, talked about the role of national digital currencies, also known as CBDCs, in increasing the use of national currencies in BRICS trade. Matvienko stated that a hypothetical BRICS bridge, a joint payment system, would leverage...
Lithuania Fines Crypto Firm $10M for Russian Sanctions Violations
11.7.2024
The Lithuanian Financial Crime Investigation Service (FNTT) has fined the crypto firm Payeer nearly 9.3 million euros ($10 million) for international sanctions violations and anti-money laundering (AML) breaches. Specifically, Payeer was fined 8.23 million euros for facilitating transactions...
Lithuania Fines Crypto Firm Payeer $10.1M for Russian Trades
10.7.2024
Lithuania—the seaside country—has fined Payeer, a crypto company, €9.3 million ($10.1 million) for financial sanctions and money laundering violations involving its Russian clientele. According to Bloomberg, the Financial Crimes Investigation Service (FNTT) under the Ministry of Internal Affairs...
Russian Central Bank Suggests Using Crypto to Counter Western Sanctions
4.7.2024
Russia’s central bank has urged businesses to consider various payment solutions, including cryptocurrencies and digital assets, to manage transactions with foreign partners and counter Western sanctions. Bank of Russia Governor Elvira Nabiullina highlighted that the central bank has softened...
US Lawmaker Proposes Stricter Digital Asset Regulations to Enforce Russian Sanctions
14.6.2024
U.S. Congressman Brad Sherman has proposed an amendment designed to enhance the enforcement of sanctions on Russian digital assets. The amendment allows the Treasury Secretary to prohibit crypto transactions linked to Russian entities and requires U.S. taxpayers to report crypto transactions...