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Gold-Based Digital Assets Issued in Russia
29.12.2022
A blockchain platform built by Russia’s largest banking institution, Sber, has been used to issue digital assets based on gold. The value of the tokenized precious metal will depend on the prices of physical gold, the bank said, emphasizing that the operation is a first. Russia’s Sber Bank Mints...
Russia's largest bank issued gold-backed digital financial assets
27.12.2022
The issuance became the second major operations of the bank with the new class of assets
Crypto OTC trading to get traction due to FTX fiasco, exec says
27.12.2022
The FTX crash could trigger a bigger demand for crypto OTC services as investors are looking for alternative crypto exchange methods amid weak trust in CEXs
Bitcoin ASIC miner prices hovering at lows not seen in years
27.12.2022
ASIC miners' price per terahash has fallen more than 80% from its peak in 2021 as Bitcoin mining machines continue to flood the marketplace
Ukrainian Steals Bitcoin From Russian Darknet Market, Donates to Charity
26.12.2022
A Ukrainian living in the U.S. has reportedly hacked a major drug market on the Russian dark web, diverting some of its crypto proceeds. The man says he donated the digital cash stolen from the illicit website to an organization delivering humanitarian aid across his war-torn homeland. Wisconsin...
As the Fed Turns 109 Years Old, the US Dollar’s Purchasing Power Eroded by More Than 96% Since It Was Created
25.12.2022
109 years ago, the U.S. Federal Reserve was created and ever since that day, the purchasing power of the U.S. dollar has dropped a great deal. Since the Fed started, more than 96% of the greenback’s purchasing power has been erased via inflation. The Purchasing Power of the U.S. Dollar After...
The 5 most important regulatory developments for crypto in 2022
25.12.2022
The European Union has its regulatory framework, while the race is only kicking off in the United States
Russia to Ban Banks From Using Messengers Like Telegram to Contact Customers
25.12.2022
Financial institutions in Russia will not be able to communicate with clients through instant messengers based outside the country, local media revealed. A new law passed by the State Duma also prohibits banks from using chats to send personal data and payment documents. Bill Restricts Russian...
Russian Parliament Postpones Adoption of Crypto Mining Bill
24.12.2022
Russian lawmakers will consider a draft law on cryptocurrency mining in 2023 despite earlier indications they were going to vote on the proposal in December. The bill is expected to set the rules for the extraction and sale of cryptocurrency in Russia amid sanctions limiting the country’s access...
Ukrainian Devs Remind Us Life Is Still Hell As Russian Drones Bomb Cities
23.12.2022
It feels like forever since the war in Ukraine began, but it hasn’t even been a year; Russian tanks rolled across the border in February, just ten months ago. Yet what was once headline news has now blurred into the background for most of us, a conflict that for the rest of the world is...
Opposition press links Russian lawmaker to local crypto OTC
21.12.2022
Russia’s crypto OTC platform Bankoff has reportedly not only helped officials avoid sanctions but has also generated some gains
BTC-e’s Alexander Vinnik Applies for Release on Bail Citing Trial Delay
21.12.2022
The alleged operator of crypto exchange BTC-e, Alexander Vinnik, has asked to be released on bail due to the delay in court proceedings. In early August, the Russian IT specialist was extradited to the United States to face charges of money laundering through the now-defunct coin trading platform....
Bank of Russia to Test International Crypto Payments With Companies
21.12.2022
The Central Bank of Russia plans to use cryptocurrency for cross-border payments in trials with private companies, a member of its top management has revealed. The testing will be conducted under a special legal regime that’s currently under development. Russia’s Central Bank to Explore Crypto...
Government Agencies Need Crypto Wallets and Access to Exchanges, Russian Prosecutors Say
19.12.2022
Russian authorities are finding it hard to cash out digital assets they have gotten hold of, prosecutors have warned. They have also urged the government to recognize cryptocurrency as property, allow departments to have digital wallets and use crypto exchanges. Prosecutor’s Office Insists Russian...
Only for foreign trade: Bank of Russia stands against free crypto investment
16.12.2022
The Russian government doesn’t want to enable Bitcoin for regular Russian people but exclusively for foreign trade entities
Bank of Russia Moves to Safeguard Crypto Companies Against Sanctions
16.12.2022
The Central Bank of Russia has introduced measures to protect entities working with digital assets from sanctions pressures. These businesses will be exempted from some reporting requirements as part of a regulatory relief intended to minimize the burden on financial organizations. Russia’s Central...
Russian Energy Companies Crack Down on Domestic Crypto Miners
15.12.2022
Russian energy providers are hunting illegal crypto miners who plying their trade from home, the government has said.
Per Izvestia, the Deputy Energy Minister Pavel Snikkars stated that some “home”-based miners have successfully changed the load profile of their electrical connections – allowing...
Russian Social Media Giant Vkontakte Launches NFT Service
15.12.2022
Russia’s largest social network, Vkontakte, has launched a feature allowing users to upload digital collectibles to the platform. Account holders will also be able to buy and sell them in the future as the company intends to establish a marketplace for non-fungible tokens. Vkontakte Users...
Russia Cracking Down on Crypto Miners Minting in Residential Areas
14.12.2022
Russian authorities are now prosecuting miners extracting cryptocurrency using subsidized electricity for the population, according to a top official from the energy ministry. Power utilities are detecting their increased consumption and trying to make them pay at commercial rates. Amateur Crypto...
Another Member of Russian Crypto Pyramid Finiko Arrested in UAE
11.12.2022
Law enforcement authorities in the United Arab Emirates have detained a top Finiko representative, sought for his role in the crypto Ponzi scheme which defrauded thousands of investors around the world. This is the second arrest in the Gulf state of a high-ranking member of the pyramid announced...