Search
Financial Market Committee Chair Aksakov Joins Calls for Identification of Russian Crypto Owners
19.1.2022
Anatoly Aksakov, head of the Financial Market Committee at the Russian parliament, has reiterated a warning for cryptocurrency investors and insisted that Russians owning coins should declare their digital assets. The parliamentarian also urged for the comprehensive regulation of crypto mining...
Russia’s National Finance Association Calls for Legalization of Crypto Investments
13.1.2022
The main finance industry association of Russia has urged authorities to reconsider a position against crypto investments in the nation’s financial market strategy. The organization insists that the crypto investments of Russians should be brought out of the “gray zone” instead...
Bank of Russia Sees No Place for Crypto in Financial Market, Finalizes Digital Ruble Prototype
22.12.2021
In advance of presenting its comprehensive view on crypto regulations, the Central Bank of Russia has indicated that it sees no place for cryptocurrencies in the country’s financial market. The monetary authority also announced that the prototype of the platform for its own digital currency...
Russians Have Invested Over $67 Billion in Cryptocurrency, Lawmaker Reveals
21.12.2021
Interest in cryptocurrencies has been growing in Russia, not least among non-qualified investors. According to recently quoted estimates, Russians have already put more than $67 billion into the crypto market, the capitalization of which has increased significantly this year. Russians Spent Some...
Russia to Allow Foreign Residents to Own and Use Digital Ruble
13.12.2021
The central bank of Russia intends to ensure that the digital ruble is convertible to foreign currencies and can be used by non-residents. In a document devoted to the digitalization of the Russian financial sector, the regulator reiterates its concerns over the risks associated with...
Russian Parliament Sets Up Working Group on Cryptocurrency Regulations
26.11.2021
A working group on cryptocurrencies and related activities will soon begin to meet at the State Duma, the lower house of Russian parliament. Its members are expected to take on the task of clarifying various regulatory aspects related to digital financial assets such as the legalization of mining...
Bank of Russia Pushes to Introduce Liability for Illegal Use of Digital Assets
24.11.2021
The monetary authority in Moscow, the Bank of Russia, wants those who use cryptocurrencies against the law to be held accountable. The financial regulator has proposed the introduction of legal liability for some operations with digital assets which it considers illegal. Central Bank of Russia Aims...
Digital Ruble Poses Risks to Financial Sector and Security, Russian Lawmakers Warn
20.11.2021
Russian parliamentarians have cautioned against risks associated with the introduction of a digital ruble. Among them are the likely increase of competition pressure on banks and new challenges that may arise in the field of information security. Financial Market Committee Sees Threats in Digital...
Digital Ruble Should Not Boost Inflation, Bank of Russia Says
17.11.2021
Bank of Russia is preparing for a prolonged trial of the digital version of the national fiat to ensure this is a “full-fledged ruble,” the head of the monetary authority has emphasized. The regulator has put forward some conditions for the implementation of the new currency project....
Russian Parliament to Consider Restrictions for Non-Qualified Crypto Investors
8.10.2021
Cryptocurrency can be quite complicated for some and lawmakers in Russia think they need to contemplate restrictions for private investors. According to a high-ranking representative of the legislature, the Russian parliament needs to provide them with “maximum protection” against...
Swiss Regulator Approves First Crypto Fund: Asset Manager Says ‘It’s an Exceptional Achievement’
29.9.2021
Switzerland’s Financial Market Supervisory Authority (FINMA) has approved the first Swiss crypto fund. It is managed by asset manager Crypto Finance and custodied by Seba Bank. “For the first time, FINMA has approved a Swiss fund that invests primarily in cryptoassets,” said...
Bank of Russia Lists Crypto Companies Among Financial Pyramids
24.9.2021
The Central Bank of Russia has recently expanded its database of financial market players suspected of illicit activities. Several crypto companies have been added to the list along with entities bearing signs of Ponzi schemes, as well as illegal credit organizations and forex dealers. Central Bank...
Central Banks Look To Two-Tier Retail CBDC Model Amid Disruption Fears
22.9.2021
ral-banks-seek-to-balance-innovation-and-disruption-when--PBC_1303486">report by international risk assessment firm Moody’s. “Based on existing and proposed pilot schemes, CBDC development is being done in conjunction with existing financial market infrastructure, the two-tier
Digital Ruble to Help Curb Use of ‘Money Surrogates,’ Russia Says in Financial Strategy Document
15.9.2021
The launch of a digital ruble will be among Russia’s key priorities of digitalization this decade, the country’s financial market development strategy has confirmed. The document claims the issuance of a digital national fiat will help the central bank to prevent Russians from using...
Crypto Mining Should Be Registered and Taxed in Russia, Financial Market Committee Chair Says
12.9.2021
Cryptocurrency mining should be registered as entrepreneurial activity and taxed as such, according to Anatoly Aksakov, chairman of Russia’s parliamentary Financial Market Committee. The lawmaker also thinks Russian digital currency regulations need refinement. Amendments Likely to Affect...
Bank of Russia Exposes Nearly 150 Financial Pyramid Scams, Fraudsters Exploit Crypto Craze
30.7.2021
The Central Bank of Russia (CBR) has identified 146 financial pyramid schemes in only six months this year. Fraudsters often lure people with weak financial literacy into investment scams linked to cryptocurrencies or crypto mining operations. Pyramid Schemes Thrive Amid Rising Investment Demand...
Central Bank of Sweden Invites Financial Market Actors for Second Phase of E-krona Pilot
30.5.2021
Sveriges Riksbank, the central bank of Sweden, will carry out the next stage of its e-krona project with the help of two organizations from the financial sector. The move signals a transition from the initial in-house testing with simulated participants to cooperation with real, external partners....
Bank of Russia Tests Services Related to Cryptocurrencies
9.5.2021
Russia’s central bank has examined three platforms offering crypto-related services. The projects have been tested in its regulatory sandbox in the course of 2020. Bank of Russia has received dozens of requests to pilot various financial services since it created the closed regulatory...
Austrian Regulator Reports Rise in Crypto Fraud
19.2.2021
The FMA reports two-thirds of the investment fraud reports filed in 2020 were related to cryptocurrency and digital currency trading products
Halving & Burns on BitGesell – the Optimal Combination for Scarcity and Value in the Crypto Age
1.2.2021
BitGesell represents a deflationary cryptocurrency that closely resembles bitcoin, but comes along with a few design changes. Its value proposition stems from Silvio Gesell’s financial market philosophy, who imagined monetary units that lose their value over time through demurrage. To keep...