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Russians ‘Can Pay Taxes on Their Crypto Earnings’ – Despite Crypto’s Lack of Legal Status
12.7.2023
The Russian tax body says that citizens “can pay” taxes on their crypto earnings, despite the fact that tokens have no legal status in the country.
In another sign that the government appears to be sending mixed messages about its stance on crypto, the Federal Tax Service (FTS) stated that crypto...
Russians Turned to Tether During Wagner Revolt
27.6.2023
Russian citizens sought refuge in tether amid the brief mutiny of the Wagner mercenary group that shook their country. The ruble-denominated trading volume of the U.S. dollar-pegged stablecoin spiked during the short-lived rebellion, market data revealed. Russians Traded Millions of Dollars’...
Two Russians Charged for Infiltrating Mt Gox and Operating Illicit Crypto Exchange, BTC-e
9.6.2023
In a statement issued on Friday, the U.S. Department of Justice (DOJ) revealed that two Russian individuals have been accused of infiltrating a cryptocurrency exchange and running an unlawful exchange. Reportedly, the pair gained unauthorized access to Mt Gox’s servers from 2011 to 2014...
Russians Warned Against Saving in Crypto Amid Declining Savings in Foreign Fiat
1.6.2023
A government official in Moscow has advised Russians to avoid cryptocurrencies now when interest in foreign fiat currencies is declining in the country. The high-risk assets are not suitable for the savings of most people and make sense only for investments by rich people, his comments suggest....
Crypto Too Risky for ‘Most’ Russians, Says Finance Ministry – But Could Be ‘Suitable’ for ‘Some’
31.5.2023
Crypto is too risky for “most” Russians, the nation’s Finance Ministry has claimed. But the ministry claimed tokens could be “suitable” for “professional investors.”
Per the media outlet Nizhny Novgorod, the comments were made by Ivan Chebeskov, the director of the ministry’s financial policy...
Putin Wants Limit on Currency Purchases for Russians Dealing With Foreigners
24.5.2023
Russian citizens and firms doing business abroad may soon be restricted in the amount of foreign currency they are allowed to acquire, on order from Vladimir Putin. Russia’s head of state now wants his government to cap such purchases on the domestic forex market. President Putin Orders Russian...
Tax Authority Slated to Become Main Crypto Regulator in Russia
17.5.2023
Russia’s tax administration is going to be tasked with overseeing the crypto industry in the country, a high-ranking government official has indicated. According to the regulatory concept that’s currently under consideration, the revenue service will also serve as an entry point for market...
IRS, Chainalysis Helping Ukraine Track Russians Using Crypto to Evade Sanctions
14.5.2023
The U.S. Internal Revenue Service (IRS) said it’s working closely with Ukraine to help it trace crypto transactions of Russian sanctions evaders. The agency is providing the Ukrainians access to a Chainalysis tool as well as specialized training to Ukrainian law enforcement. IRS Offers Ukraine...
Binance Reportedly Investigated in US for Russia Sanctions Violations
7.5.2023
Cryptocurrency exchange Binance is facing a U.S. probe over suspected violations of sanctions against Russia, according to a media report. The inquiry is looking into whether the trading platform was used by Russians to circumvent financial restrictions imposed over Moscow’s invasion of Ukraine....
A Counter-Strike Map Is Informing Russians About The Ukraine Invasion Amidst Censorship
3.5.2023
As journalists and editors know, cutting through the noise to deliver the news can be a tricky business. It’s even harder when you’re trying to report on the invasion of Ukraine, and your target audience is located in Russia. Since March 2022, the Russian president has made it a crime to call...
Binance Reportedly Removes Restrictions on Russian Users
27.4.2023
The world’s largest crypto exchange, Binance, has lifted certain restrictions on Russian users, local crypto media unveiled. According to multiple reports, Russians can once again use their bank cards to make deposits and the trading platform has canceled a limit on their balances which...
Russians Spend More on Crypto than Gold, Says Central Bank – Crypto Bull Market Incoming?
5.4.2023
Russians are now spending more per household on crypto than gold and other precious metals, a Central Bank report has discovered.
The bank’s findings were compiled in a report named “A Nationwide Survey of Consumer Finance Households” (literal translation).
The report compiled a range of data...
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...
Russians Reportedly ‘Using Crypto Exchanges to Send USDT to UK’ – Here’s How
16.3.2023
Russians are using “several” Moscow crypto exchanges to send Tether (USDT) to people based in the UK, a new report has claimed.
Per the NGO Transparency International’s Russia branch and the media outlet The Bell, “several crypto exchanges” are now “operating” in Moscow, where they “offering...
Russians Use Tether to Send Money to the West, Evading Sanctions and KYC – Transparency International
15.3.2023
Russian banks may currently be cut off from the SWIFT international payments network. But, despite wide-ranging international sanctions against the Kremlin, money keeps flowing between Russia and the West, and a range of brokers are ready to turn Russian rubles into foreign currency abroad, in cash
Binance Bans Russians From P2P Transactions With Dollars and Euros
10.3.2023
Cryptocurrency exchange Binance has introduced new restrictions for Russian users, in accordance with the latest European sanctions. The platform is restricting access to peer-to-peer (P2P) transactions in U.S. dollars and euros for traders based in the Russian Federation. Binance Prohibits...
Fraudsters Offer Russians Bogus Chance to Invest in Fake ‘State Cryptocurrency’
9.3.2023
Internet users in Russia have been targeted in an email campaign advertising the launch of an alleged cryptocurrency issued by the state. Potential victims are encouraged to follow a link to the website of the fraudulent investment scheme, security experts said. Thousands of Investment Offers...
Russian Court Sends 3 Crypto Robbers to Strict-Regime Prison
7.3.2023
Three Russians are going to spend time in high-security prison for stealing over a million U.S. dollars’ worth of cryptocurrency from another man. In addition, the court has also ordered them to fully compensate the victim for the damages, prosecutors announced. Robbers Get Prison Sentence...
Crypto Exchanges Allow Russians to Circumvent Sanctions, Report Alleges
26.2.2023
Major crypto exchanges have failed to prevent sanctioned Russian banks and traders from transacting, according to a blockchain forensics report. At least two established coin trading platforms continue to allow Russians to use their bank cards in peer-to-peer deals, the analysis shows. It also...
Russian Founders of Defi Platform Forsage Indicted in $340 Million Crypto Ponzi Scheme
23.2.2023
Four Russians have been charged in the U.S. with operating a crypto pyramid and Ponzi scheme that defrauded investors of millions of dollars. If convicted, they would face a maximum penalty of 20 years in prison for their roles in the purportedly decentralized finance (defi) platform Forsage....