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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...
Here’s How Russians Dodge Sanctions to Use Int’l Crypto Exchanges
16.11.2023
Russian crypto holders have reportedly used simple workarounds to evade sanctions – and trade on overseas crypto exchanges. In the wake of the war in Ukraine, Western leaders have imposed sanctions on most leading Russian banks. Account holders at these banks, thus, are effectively blocked from...
Number of Russian Crypto Transactions ‘Has Tripled in 2023,’ Says Kremlin
2.11.2023
The Kremlin believes the number of crypto transactions conducted in Russia has risen by three times in 2023, with transfer volumes “doubling.” The claims were made by Yuri Chikhanchin, the head of Rosfinmonitoring, in an interview with the Russian media outlet Izvestia. Formally known...
Russian ‘Crypto Queen’ Suspected of Sending Coins to Ukraine
19.10.2023
Russian police think that a “crypto influencer” known as Bitmama, aka the “Queen of Crypto,” may have sent tokens to support Ukraine’s military.
Valeria “Bitmama” Fedyakina was detained by police in September after an “acquaintance” accused her of fraud.
She remains in custody, and a news network...
Russian Crypto Exchange Moves Money for Gaza Groups, Report
16.10.2023
Palestinian militant organizations, including a Hamas-linked Islamist group, have been using a Moscow-based crypto exchange to transfer millions, a press report revealed. The U.S.-sanctioned platform, which allows customers to convert Russian cash to crypto and then withdraw fiat abroad, has been...
Russian ‘Crypto Queen’ Reportedly Arrested in Moscow
25.9.2023
Police in Russia have reportedly arrested an entrepreneur and “crypto influencer” known as Bitmama, aka the “Queen of Crypto,” on fraud charges.
Per Moskvich Magazine and the Telegram-based news networks Baza and Readovka, Valeria “Bitmama” Fedyakina was detained by police on September 15 after...
FBI Wanted Co-Founder of Crypto Exchange Wex Sentenced in Russia
24.9.2023
Aleksey Bilyuchenko, co-founder of Wex, the successor of the infamous Russian crypto exchange BTC-e, will spend only a couple of years in prison. The Russian, who is charged in the U.S. with money laundering, has been sentenced in his homeland as the only defendant in a case over the collapse...
North Korean Hackers Use Russian-Based Exchanges to Launder Stolen Crypto, Report
17.9.2023
Hacking groups linked to North Korea are increasingly using exchanges in Russia to launder crypto, Chainalysis revealed. The shift in their strategy, registered by the blockchain forensics firm, coincides with a drop in the value of the stolen cryptocurrency this year in comparison with...
Russian Miners Mint Crypto Worth $700 Million a Year, Mining Bill Postponed
2.6.2023
Cryptocurrency miners in Russia have extracted digital currencies for around $700 million last year, according to a state-run fintech entity. However, the growing industry remains unregulated with the government having postponed the adoption of the respective legislation once again. Russian Crypto...
IRS, Chainalysis and Ukraine Targeting Russian Crypto Sanctions Evaders Jointly
11.5.2023
The U.S. Internal Revenue Service and crypto investigations company Chainalysis are working with Ukraine to target Russian oligarchs using crypto to evade sanctions
US Court Sentences Russian Crypto Ransom Launderer to Probation and Fine
24.4.2023
A Russian crypto entrepreneur, charged with laundering money from ransomware attacks, has been sentenced to probation and fined in the U.S. after pleading guilty. Founder of two coin trading platforms, Denis Dubnikov, was arrested in the Netherlands and extradited to the U.S. last year. Oregon...
TWO Russian Crypto Laws Could Roll Out in June – Here’s What You Need to Know About Them
21.4.2023
Russian lawmakers could finally end the country’s long wait for crypto regulation – with two bills reportedly ready for adoption as early as June.
One will seek to permit the use of crypto in overseas payments.
The other will deal with the legalization of crypto mining.
Crypto regulation’s...
Ukraine Dismantles $40 Million Russian Crypto Pyramid
6.4.2023
Ukrainian law enforcement has exposed a financial pyramid originating from Russia suspected of making millions of U.S. dollars. The scam convinced victims to send fiat money and cryptocurrency by promising profitable investments in big companies around the world. Large Crypto Pyramid Scheme With...
A Sharp Rise in Bogus Russian Crypto Exchanges – How Are Fraudsters Targeting Russians?
4.4.2023
A “significant” rise in the number of fraudulent crypto exchanges targeting Russians and Russian-speaking crypto traders has been detected, a new report has found.
Per Kommersant, experts have noted a “significant increase” in the number of “small [Russian-language] crypto exchanges, some of which...
Most Crypto Sent From Wallets Sponsoring Russia in Ukraine War Reaches CEXs, Binance, Research Shows
30.3.2023
Millions of U.S. dollars’ worth of cryptocurrency has been sent to centralized exchanges (CEXs), most notably Binance, from wallets providing funds in support of Russia’s war effort in Ukraine, transaction data suggests. According to Ukrainian analysts, the money was transferred to the crypto...
Russian Crypto Industry Queries Government About Proposed Criminal Liability for Miners
18.3.2023
The organization representing Russia’s crypto sector has asked the government in Moscow to clarify a proposal to introduce criminal liability for “gray” miners. The draft legislation seeks to punish those who fail to report their income to the state and share information about their digital...
Revised Bill Suggests Prison Time for Russian Crypto Miners Evading Taxation
12.3.2023
A draft law designed to regulate crypto mining in Russia introduces harsh penalties for miners failing to report digital assets to the state. In its latest revision, the bill also threatens to punish those who organize illegal trading of cryptocurrencies with imprisonment and hefty fines. Forced...
Russian Crypto Industry Group Calls for Putin Talks – This Is What It Wants to Discuss
9.3.2023
Leaders of Russia’s cryptoasset and blockchain industry say they want to meet President Vladimir Putin for face-to-face talks about crypto regulation.
The media outlet RBC reported that the request was made by the Russian Association of the Crypto Industry and Blockchain (RACIB) and a software...
Russian crypto advocates urge Putin to stop regulatory hostility
8.3.2023
Russia’s existing regulatory stance on the cryptocurrency industry would potentially lead the country to “direct financial losses,” the RACIB argued
Russian Crypto Industry Association Asks Putin to Help With Regulations
8.3.2023
The organization representing Russia’s crypto and blockchain sector has urged Vladimir Putin to spur regulatory efforts. The association fears the Russian Federation may lag behind other nations if it maintains its conservative approach towards new financial technologies. Russian Crypto Businesses...