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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...
Indian Crypto Exchanges Are in Survival Mode, Trying to Extend Their Runways
29.5.2023
India’s CoinDCX, CoinSwitch, WazirX, BuyUCoin, ZebPay and Giottus all think they'll survive the current bear market – here’s how
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...
Finance Ministry to review GSTN portal and GST systems on April 4
4.4.2023
According to reports, the Finance Ministry has scheduled a meeting for April 4, 2023, to carefully examine the current GST systems and the functioning of the GSTN portal. The need for this emerged because plans are in motion for the GST system to integrate technologies like advanced data analytics...
Japan's Finance Ministry to Explore Digital Yen Feasibility: Report
30.3.2023
The ministry plans to launch an expert panel next month to explore the feasibility of a central bank digital currency
India Brings Crypto Transactions Under Prevention of Money Laundering Act
11.3.2023
India’s finance ministry has announced that crypto transactions will be covered under the Prevention of Money Laundering Act, 2002 (PMLA). Noting that the move “is a positive step in recognizing the sector,” a crypto insider explained that it will strengthen the industry’s...
India's Crypto Regulation Now Has Teeth, Experts Say
9.3.2023
Bringing crypto companies into the purview of anti-money laundering rules imposes obligations and exposes them to fines for breaches
India's Crypto Businesses Handed Anti-Money Laundering Obligations for First Time
8.3.2023
They will have to register with the Financial Intelligence Unit and voluntarily report suspicious activities
India Highlights Need for ‘Common Approach to Regulating Crypto Ecosystem’
1.2.2023
India’s Finance Ministry has highlighted the necessity for “a common approach to regulating the crypto ecosystem” in its flagship Economic Survey this year. “Crypto assets are self-referential instruments and do not strictly pass the test of being a financial asset because...
UK Finance Ministry to Propose Broad Rules for Crypto, Invites Industry Feedback
31.1.2023
The Treasury also gave crypto companies a time limited exemption to approve their own crypto promotions until more regulation comes
Russian Finance Ministry Makes Fresh Bid to Tax Crypto Miners
26.1.2023
The Russian finance ministry has launched a fresh attempt to tax crypto miners – in a bid to surmount obstacles thrown up by the nation’s Central Bank and law enforcement agencies....
Read More: Russian Finance Ministry Makes Fresh Bid to Tax Crypto Miners
Russia’s Crypto Mining Bill ‘Has Stalled,’ Says Finance Ministry
19.1.2023
Russia’s crypto mining legalization bill has hit a last-minute obstacle, and the draft law’s progress has now “stalled,” the nation’s Ministry of Finance conceded.
Per Finmarket, the nation’s Deputy Finance Minister Alexei Moiseev told reporters on Wednesday that the long-awaited bill – which...
Russian Finance Ministry Says ‘Why Not?’ to Crypto in International Payments
3.1.2023
The Russian Finance Minister has confirmed that his department wants to green-light the use of crypto as a payment tool in international trade. And he says that countries that “want to do business” with Moscow should be allowed to pay in crypto if it is “convenient” for them.
The comments, which...
Bank of Russia Backs Crypto Mining Bill But Insists Minted Coins Should Be Exported
10.12.2022
The monetary authority in Moscow has expressed support for the latest legislative attempt to legalize cryptocurrency mining. However, the regulator wants the extracted digital currency to be sold outside the country or only under special legal regimes in Russia, as an exception. Russia’s Central...
Russia Starts Developing Mechanism for International Crypto Payments
25.9.2022
Financial authorities in Russia have begun work on a mechanism to facilitate the employment of cryptocurrencies for settlements with other nations amid sanctions. The country’s central bank and finance ministry have already agreed on a draft law regulating cross-border crypto payments....
Bank of Russia, Finance Ministry Agree on Crypto Mining Regulation, Law Expected Soon
22.9.2022
Major government institutions in Moscow, the central bank and the finance ministry, have aligned their positions on the regulation of cryptocurrency mining in the Russian Federation. The respective bill will soon be filed with the State Duma, a high-ranking member of the house unveiled. Financial...
Indian Government Working on How GST Tax Could Be Applied to Crypto
22.9.2022
India’s ministry of finance is reportedly working on how the goods and services tax (GST) could apply to crypto transactions. “A better understanding of how cryptocurrencies fit into our legal system is the prerequisite for the decision on the GST rate,” a source told local...
Russian Prime Minister Orders Finance Ministry, Central Bank to Agree on Crypto by December
15.9.2022
The central bank and the finance ministry in Moscow have been asked by the head of the Russian government to agree on a vision for the development of the country’s digital asset market by Dec 1. Working with other regulators, they should also present a common position on the legislation...