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Russia Prepares to Create Government-Controlled Crypto Exchange
24.11.2022
Lawmakers in Russia are drafting legislation that would allow the establishment of a “national cryptocurrency exchange,” local media unveiled. Coins now circulate outside of government oversight and the Russian state is losing budget revenues in the billions of rubles, pointed out one of...
Russian Lawmakers Want to Create a State-run Crypto Exchange
24.11.2022
Russian lawmakers have devised a plan that could see the nation create a state-run crypto exchange.
Per Vedomosti, members of the State Duma, Russia’s parliament, have “begun to develop a draft amendment” that involves “creating a national crypto exchange in Russia.”...
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Report: China Suspected of Stockpiling Gold to ‘Cut Greenback Dependence’
22.11.2022
During the first week of November, the World Gold Council’s (WGC) report that covered last quarter’s global gold demand noted that central banks worldwide purchased close to 400 tons of gold in Q3 2022. The study highlighted that it was the “most on record,” and the WGC researchers also...
Amendments to Russia’s Digital Asset Law Aim to Allow Mining, Ban Crypto Exchange and Ads
19.11.2022
Russian lawmakers have proposed changes to the current law “On Digital Financial Assets” in order to regulate crypto mining while banning the circulation of cryptocurrencies in the country. The legislation also prohibits the non-targeted advertising of crypto-related products and services....
Russian bill would legalize crypto mining, sales under ‘experimental legal regime’
18.11.2022
The bill provides a legal definition of mining and mining pools and would create a domestic cryptocurrency market in Russia’s latest step to integrate digital assets into its economy
Co-Founder of Russia’s Largest Crypto Pyramid Finiko Arrested in UAE
18.11.2022
One of the founders of Russia’s most notorious Ponzi scheme in recent times, Finiko, is in detention in the United Arab Emirates, according to a Russian media report. The close associate of the crypto pyramid’s mastermind left the Russian Federation as the scam collapsed last summer....
Russia and Cuba Eye Cryptocurrencies for Settlements Amid Sanctions
17.11.2022
Both facing sanctions, Russia and Cuba are looking into alternative options for cross-border payments, including cryptocurrencies, a Kremlin advisor has unveiled in Havana. Moscow is already developing a mechanism for crypto settlements to circumvent financial restrictions imposed over its invasion...
Ukraine’s Deputy Digital Minister Rejects ‘FTX-Democrats Narrative’
16.11.2022
Claims that Ukraine has invested military aid into the bankrupt crypto exchange FTX have been rebutted by a representative of the Ukrainian government. Speculation circulated on social media suggested such funds have been returning to the U.S. via FTX donations for the Democratic Party. Kyiv...
Bank of Russia Sets Out to Regulate Digital Asset Taxation, Exchange, Still Opposed to Crypto
13.11.2022
The Central Bank of Russia supports the development of digital financial assets but remains opposed to legalizing crypto payments, its top management has reiterated. The monetary authority is now working on a set of regulatory proposals that will be submitted to parliament by the end of the year....
Russia’s Digital Ruble Integrated Into Banking App
12.11.2022
VTB has become the first Russian bank to add the digital ruble to its mobile application. The integration is currently being tested with accounts set up for legal entities. Select customers will be granted access in the coming months and will be able to join the trials. VTB’s Mobile App to Support...
Russian IT Firms Lobby for Crypto Payments in Software Exports
11.11.2022
Companies developing software solutions for foreign customers are urging Russian authorities to allow them to accept crypto payments. The proposal is part of a package of measures aimed at supporting IT exports suggested by an industry organization to the executive power in Moscow. IT Businesses...
Russian Central Bank Still Saying No to Use of Crypto in Settlements
10.11.2022
Russia’s Central Bank has thrown another spanner into the crypto adoption plans of the nation’s pro-business Ministry of Finance – by saying it still opposes the use of coins in settlements and “accounting” scenarios....
Read More: Russian Central Bank Still Saying No to Use of Crypto in Settlements
Bank of Russia Suggests Tax Cuts for Long-Term Digital Asset Holders
9.11.2022
The Central Bank of Russia is proposing to introduce tax incentives for long-term holders of digital financial assets. The idea has been circulated with a consultation paper published for public discussions on the development of the digital asset market in the Russian Federation. Bank of Russia...
New Report: Russian Central Bank Looks to Integrate ‘Digital Assets’ Into its Financial System
8.11.2022
The Central Bank of Russia (CBR) has released a report that focuses on digital assets and how the new technology could be integrated into its traditional financial system.
On Monday, Russia’s central bank shared a 32-pages-long public consultation report titled 'Digital Assets in Russian...
Crypto Exchange Bybit Does Not Plan to Sanction Russian Users Despite MAS Call, Report
6.11.2022
Cryptocurrency exchange Bybit has no intention to introduce restrictions for Russian traders, despite a recent reminder by the Monetary Authority of Singapore (MAS) about the obligations of crypto providers in that respect. According to a crypto media report, the platform shared its position...
Uzbekistan Unblocks Popular Russian Crypto Exchange Aggregator
4.11.2022
The government body overseeing the crypto market in Uzbekistan has restored access to Bestchange.ru, a well-known exchange aggregator in the region. The move comes after earlier this year the regulator blocked a number of coin trading platforms, including Binance. Residents of Uzbekistan Can Again...
Crypto Exchanges Must Comply With Russia Sanctions, Singapore Central Bank Says
3.11.2022
The Monetary Authority of Singapore (MAS) has reiterated that cryptocurrency exchanges need to conform to restrictions on Russian users imposed over Moscow’s invasion of Ukraine. The reminder comes after researchers established that pro-Russia activists have raised millions of dollars in digital...
Russia Plans to Allow Mining of Any Cryptocurrency, Lawmaker Unveils
2.11.2022
Newly proposed legislation aims to permit the minting of any cryptocurrency in Russia, a prominent lawmaker has revealed. While the draft law states that the circulation of the minted coins should take place outside Russian jurisdiction, an upcoming bill provides for their use under “experimental...
Binance's Zhao Suggests Exchange Might Still Allow Russian Users
2.11.2022
French Lawyer Asks Russian Patriarch to Help Save Alexander Vinnik From ‘Political Trial’ in US
31.10.2022
A member of the defense team of the alleged BTC-e operator Alexander Vinnik has called on the head of the Russian Orthodox Church to intervene in support of his client. The Russian national may be sentenced to over 50 years in prison for his role in the infamous cryptocurrency exchange. Prisoner...