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Bitcoin to Hit 90k Before End of 2024, Says Russian Crypto Industry Chief
15.2.2024
Bitcoin will hit the $90k mark before the end of 2024, the head of a Russian crypto industry body claimed this week. The comments came from the President of the Russian Association of Cryptocurrency and Blockchain (RACIB) Yuri Pripachkin, the Russian-language media outlet CoinSpot reported....
Bank of Russia Detected Over 5,700 Pyramid Schemes in 2023
13.2.2024
The Bank of Russia reported that the number of pyramid schemes and illegal lending providers in Russia rose to over 5,700 in 2023, an increase of 15.5% over the number detected in 2022. Specifically, the number of pyramid schemes detected increased by 46%, relying on the Internet and cryptocurrency...
Two Russian Crypto Mining Centers Shut Down, 400+ Rigs Taken Offline
13.2.2024
Russian crypto mining efforts suffered a setback last week, with police closing two large, illegal data centers. In total, officers said they took over 400 crypto mining rigs offline in raids in Siberia and the republic of Dagestan. Russian Crypto Mining Still in Regulatory ‘Grey Zone’...
Russian Central Bank Says ‘Almost All Financial Scams Are Now Crypto-themed’
12.2.2024
The Russian Central Bank claimed “almost all” the financial scams it found last year had crypto-related elements. In an official release, the bank wrote that there had been a year-on-year rise of almost 16% in financial scams in 2023. In “almost” every case, the bank said it had detected a crypto...
Lawmaker: Lack of Russian Crypto Regulations ‘Undermines Moscow’s Anti-Sanctions Policies’
6.2.2024
A leading politician thinks insufficient Russian crypto regulation is “undermining the government’s efforts to counter” Western economic sanctions. The media outlet RBC quoted Andrei Lugovoy, the First Deputy Chairman of the State Duma’s Committee on Security and Anti-Corruption, as calling Russian...
Russia’s Sberbank Launches Digital Assets, NFT Offerings for Retail Investors
5.2.2024
Sberbank, Russia’s biggest bank, announced the launch of a digital financial asset and NFT trading platform. On February 2, Sberbank explained that its “digital financial assets (DFAs) platform” was open to “all individuals.” The bank added that “qualified investors” can also invest in...
30 Banks Participating in Russia’s Central Bank Digital Currency Pilot
2.2.2024
The number of banks participating in Russia’s central bank digital currency pilot has increased to 30. Seventeen banks have signed an agreement with the Bank of Russia to participate in the digital ruble program. They will join 13 other banks, about 600 citizens, and 30 trading and service...
Group of 17 Russian Banks Officially Joins ‘Second Stage’ of Digital Ruble Pilot
2.2.2024
Russia’s digital ruble pilot is gathering pace, with 17 more banks joining the Central Bank’s CBDC project. The group of banks includes heavyweights such as Sberbank and Tinkoff, the Central Bank explained in an official statement. This represents a major coup for the Central Bank. Both Sberbank...
Russia Open to the Use of Crypto in Foreign Trade Says Central Bank Governor
1.2.2024
The Russian Central Bank is discussing the possible use of central bank digital currencies as a payment method in foreign trade, according to Elvira Nabiullina, the bank’s governor. Nabiullina stated that while Russia is opposed to the use of crypto payments in domestic transactions, the country...
Russian Banking Association Launches ‘Digital Assets Council’
1.2.2024
Russia’s biggest securities and banking association has launched a “council” for the self-regulation of “digital assets.” Per RBC and an official National Association of Stock Market Participants (NAUFOR) announcement, the NAUFOR’s Board of Directors created the council on January 30. NAUFOR is...
BRICS Meeting: Iran Pushes for Common Currency — China, Russia Prioritize Settlements in Local Currencies
31.1.2024
The first BRICS sherpa meeting with 10 member states has kicked off in Russia with representatives from Brazil, Russia, India, China, South Africa, Saudi Arabia, the United Arab Emirates, Iran, Egypt, and Ethiopia. China, Russia, and Iran are all advocating for the use of national currencies...
Russia’s Central Bank Exploring Use of Crypto, CBDCs with BRICS Allies
31.1.2024
The Governor of Russia’s Central Bank says she is speaking to BRICS member states about using “digital currencies” to power international trade. Per RIA Novosti and 1Prime, the bank’s long-serving Governor Elvira Nabiullina said the Central Bank was “currently holding consultations with friendly...
US Sanctions on Russia Similar to Planting a ‘Bomb Under the Dollar,’ Says Russian Analyst
30.1.2024
The United States’ sanctions against Russia are undermining confidence in the U.S. dollar and may force other countries to ditch the currency, a Russian financial analyst has said. The analyst said contrary to the West expectations, the sanctions against Russia have failed to destroy...
Kaspersky Alerts Public About Mac Specific Malware Targeting Crypto Wallets
29.1.2024
Kaspersky, the cybersecurity firm based in Russia, has issued a public warning regarding a new malware strain that particularly targets Mac users, focusing on their crypto wallets. This malicious software, which infiltrates computers via counterfeit applications, sets up a backdoor aimed at bitcoin...
Russian Economist: ‘US Sanctions Will Undermine Dollar and Boost Digital Ruble’
29.1.2024
A leading Russian economist has claimed that American sanctions will ultimately undermine the role of the US dollar in the global economy – and help the cross-border adoption of the digital ruble. Per News.ru, the comments came from Alexander Razuvaev, a member of the supervisory board of the Guild...
Trickbot Ransomware Developer Behind $833M Crypto Theft Gets Prison Term
26.1.2024
Source: Pixabay/Pete Linforth A 40-year-old Russian developer of Trickbot ransomware has been sentenced to a five-year prison term, according to the US Department of Justice (DoJ). In a press release dated January 25, the DoJ identified the individual as Vladimir Dunaev from Amur Oblast, Russia....
Russian Crypto Miners Blamed for Siberia Power Outages
26.1.2024
Russian power providers say crypto miners are to blame for “mass” electricity outages during recent cold snaps. Per Interfax, Rosseti Siberia, the local branch of the state-run power provider Rosseti, “recorded an increase in the volume of illegal mining at the end of 2023 in a number of regions...
Russia Mulls Cryptocurrency Mining Disconnection Proposal
25.1.2024
Cryptocurrency miners might be disconnected for up to 500 hours per year in Russia, according to a proposal supported by the State Duma Energy Committee to tackle the energy deficit in some regions. The initiative would be an alternative to introducing special tariffs directed to miners that would...
Russian Crypto Miners Fume at Moscow’s Plans to Raise Their Electricity Tariffs
25.1.2024
Russia’s biggest crypto mining industry association has hit out at Moscow’s plans to increase electricity tariffs for miners. The Ministry of Energy wants miners to fork out between two and five times more than they currently pay. As mining is not yet classified as a state-recognized form...
BitRiver – Bitcoin Mining More Profitable in Russia Than US
23.1.2024
The head of Russia’s biggest crypto mining firm says that Bitcoin (BTC) mining is more profitable in his country than in the United States – and that halving will only heighten the discrepancy. Per RBC, Igor Runets, the Founder and CEO of BitRiver, said the difference would likely become more...