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Russia Proceeds With Efforts to Legalize Crypto Amid Sanctions Over Ukraine
5.3.2022
Authorities in Russia are continuing their work to establish a comprehensive legal framework for crypto transactions. The efforts, which started before the military invasion of Ukraine, go on amid warnings that Moscow may use cryptocurrencies to evade expanding financial sanctions. Expert Council...
Russia Adopts Law Allowing State to Seize Illegal Funds, Digital Assets From Officials
18.2.2022
The State Duma of Russia, the lower house of parliament, has passed a law permitting law enforcement authorities to seek confiscation of illegally obtained funds from government officials, including cryptocurrency. The state may attempt to seize the assets through court if they exceed...
Russian Regulators Find Common Ground — Bitcoin Can’t Be Used for Payments
13.2.2022
Russian authorities are yet to reach full consensus on the future of cryptocurrencies but government institutions are on the same side of the fence in their intention to ban bitcoin payments. Other operations with digital assets are to be legalized and regulated, representatives of Russian business...
Crypto Ban in Russia Can Have Opposite Effect, Medvedev Warns as Opposition Mounts Against Proposal
30.1.2022
Dmitry Medvedev, former president and prime minister of Russia, has voiced his concerns over Bank of Russia’s initiative to ban most crypto operations. Prohibition could bring the opposite result, the Russian politician warned, joining a chorus of opinions against the restrictive policy....
Crypto Ban Proposed by Bank of Russia Met With Opposition in Parliament, Government
25.1.2022
The central bank’s push for a restrictive policy regarding cryptocurrencies is not gaining support among members of the Russian government, legislature, or law enforcement. A blanket crypto ban, as proposed by the bank, would make a laughingstock of Russia, lawmakers have warned. Bank...
Russia May Allow Crypto Mining and Gold-Backed Stablecoins, Lawmaker Says
23.1.2022
Russia can legalize cryptocurrency mining and stablecoins backed by gold under government control, a high-ranking member of the Russian parliament has suggested. The statement comes after Bank of Russia proposed a wide-ranging ban on the use of cryptocurrencies, and their trading and mining. Mining...
Bank of Russia Wants to Restrict Crypto Investments by Blocking Card Payments, Report Reveals
27.12.2021
The Central Bank of Russia is currently reviewing various ways to prevent Russians from investing in cryptocurrency. One the options on the table is to block card payments to certain recipients such as crypto exchanges, a media report has unveiled. A recent meeting at the State Duma has indicated...
Working Group Meets to Prepare Regulations for Cryptocurrencies in Russia
24.12.2021
A crypto working group has held its first meeting at Russia’s parliament. Its members have been tasked to put forward legislative proposals designed to comprehensively regulate cryptocurrencies and related matters in the Russian Federation. Working Group Gathers at State Duma to Draft Crypto...
No Progress on Russian Crypto Law until February 2022 at the Earliest, Says Duma Chief
23.12.2021
Those hoping to see crypto regulations roll out in Russia will need to wait until at least February next year to see what any draft legislation might look like, per a key parliamentarian....
Read More: No Progress on Russian Crypto Law until February 2022 at the Earliest, Says Duma Chief
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...
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...
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...
Russia’s Prosecutor General Wants Cryptocurrency Recognized as Property Under Criminal Law
18.11.2021
The Prosecutor General’s Office of Russia has proposed to define cryptocurrency as property in the country’s Criminal Code. Decentralized digital money has already been qualified as such in the provisions of several other laws although various aspects of cryptocurrencies remain...
Russian Nationalists Prepare Bill to Regulate Cryptocurrency Mining
13.11.2021
Lawmakers from the Liberal Democratic Party of Russia are gearing up to introduce a draft law designed to regulate crypto mining. The nationalists say the legislation will benefit both Russian citizens and the state, as well as those who want to get involved in the business legally. Nationalists...
Russian Duma creates working group to tackle crypto mining regulations
11.11.2021
Some regulators feel that a lack of clear laws for the industry is helping crypto miners avoid paying taxes
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...
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...
Russian Duma wants to regulate crypto mining as business
9.9.2021
Russia is moving to regulate cryptocurrency mining after legitimizing the broader crypto industry in January
Russian Lawmakers Move to Allow Crypto Payments Under Contracts
24.5.2021
Members of the State Duma are now working on amendments that will permit the use of cryptocurrency as a contractual means of payment. Digital financial assets are regarded as property under Russian law and the changes will legalize crypto payments between parties to a contract. State Duma to Amend...