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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...
Demand for Mining Hardware Spikes in Russia, Prices Rise
19.12.2021
The market for crypto mining equipment in Russia has seen strong interest from buyers of both new and used devices, retail data indicates. This year, demand for application-specific integrated circuit (ASIC) machines has multiplied exponentially while video cards have been in short supply leading...
Russia to Decide Between Full Ban and Legalization of Crypto Investments, Trade
17.12.2021
Authorities in Russia are discussing two very different approaches to the regulation of cryptocurrencies and related activities. While the Bank of Russia is reportedly seeking to introduce a ban on buying crypto assets, lawmakers are moving forward with efforts to adopt rules for mining, exchange...
Illegal Crypto Miners Threatened With Jail Time in Russia
17.12.2021
Cryptocurrency miners that are illegally connecting their equipment to the power grid should go to prison, says a Russian lawmaker who recently announced that his nationalist party is working on draft legislation to regulate the crypto activity. The industry cannot rely on support from the state...
Russian Crypto Miners Tell Lawmakers: ‘Hurry up and Legalize Our Industry’
16.12.2021
Russian crypto miners say they want their industry to be legalized – and hope that official status could help them avoid spats with power providers.
Lenta reported that the situation for miners in the Irkutsk Oblast in Siberia has deteriorated of late....
Read More: Russian Crypto Miners Tell...
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...
Power Utility Sues Russians Mining Cryptocurrency at Their Homes, Raises Electricity Rates
12.12.2021
A Russian power utility has found a way to increase electricity prices for consumers mining cryptocurrency using household electricity. The regional distribution company has taken dozens of amateur miners to court and has already won some of the cases. Power Utility Goes After Crypto Miners Using...
Russia’s Federation Council to Set Up Working Group on Crypto Regulations
12.12.2021
The Federation Council of the Russian legislature is forming a working group expected to propose comprehensive regulations for cryptocurrencies. Officials from several ministries and government agencies, as well as members of the country’s expanding crypto industry, will join the body....
Russian Intelligence Service Wants More Power to Seize Crypto, Freeze Wallets
10.12.2021
Russia’s answer to the American FBI, the Investigative Committee of Russia, has called upon the government to grant it the power to seize crypto and freeze wallets.
In an interview with the media outlet Rossiyskaya Gazeta, the committee’s Chairman Alexander Bastrykin stated that...
Prosecutor General’s Office Wants to See ‘Cryptocurrency’ in Russian Law
10.12.2021
The Prosecutor General’s Office of the Russian Federation has insisted that the term “cryptocurrency” should be added to the country’s legislation. The move would allow authorities in Moscow to confiscate digital assets that have been involved in criminal activities....
Russian Senate, Gov’t Ministries & Central Bank to Create Crypto ‘Working Group’
8.12.2021
The Russian parliament’s upper house, the Federation Council (the equivalent to the American Senate), is stepping up its crypto regulatory efforts – and wants to get involved in the creation of new laws pertaining to the sector....
Read More: Russian Senate, Gov’t Ministries & Central Bank...
Bank of Russia Rejects Provision of Crypto-Related Financial Services
7.12.2021
Russia’s central bank has voiced opposition to the provision of financial services related to cryptocurrencies. The monetary authority believes such offerings would go against the interests of Russian investors as they are highly risky. Central Bank of Russia Unwilling to Allow Financial...
Russia, Ukraine Shut Down Several Cryptocurrency Farms
5.12.2021
Authorities in Russia and Ukraine have closed down a number of illegal crypto mining facilities allegedly powered by stolen electricity. The underground farms have been discovered around the capital cities, Kyiv and Moscow, as well as in the Russian republic of Dagestan. Russia Busts Illegal Mining...
FBI Seizes Bitcoin Worth More Than $2.2 Million From Ransomware Affiliate
4.12.2021
The Federal Bureau of Investigation (FBI) has seized bitcoin worth more than $2.2 million tied to ransomware payments. The cryptocurrency allegedly belongs to an affiliate of Gandcrab and Revil/Sodinokibi ransomware. US Seizes Bitcoin Worth Over $2 Million The Federal Bureau of Investigation (FBI)...
Russia’s Telecom Watchdog Roskomnadzor Targets Another 6 VPN Providers
3.12.2021
Roskomnadzor, the government body responsible for oversight of communications in Russia, is taking steps to block six more VPN providers. The move comes after the agency cut access earlier this year to a number of VPN services helping Russians to reach “banned” information....
Alternative Investments Like Crypto Form Half of Russian Non-Qualified Investors’ Portfolios
2.12.2021
Investments in alternative assets such as cryptocurrencies account for over half of the portfolio of non-qualified Russian investors, a recently held survey has indicated. Almost half of them consider digital currencies like bitcoin as a potential hedge. Cryptocurrencies Outperform Traditional...
Putin Warns Cryptocurrencies Carry Risks, Admits They May Have Future
1.12.2021
Russian President Vladimir Putin has again spoken about cryptocurrencies, noting the “high risks” associated with the virtual assets. However, the Russian leader has also acknowledged that digital currencies may have a future and it’s necessary to follow their development....
Russian Governor Who Slated Miners in October Now Plans to Welcome Them
30.11.2021
The Governor of a Russian province who just weeks ago was blasting crypto miners has now offered to help them set up shop in the region and provide support for people mining tokens.
As reported in October, the Irkutsk Region Governor Igor Kobzev called on the Russian Deputy Prime Minister and...
Study Finds Most Popular Cryptocurrencies With Russian Social Media Users
29.11.2021
In a year with rising crypto prices, online chatter devoted to cryptocurrencies has increased significantly. Research carried out on Russian social media has identified the most talked about coins and it’s not just bitcoin on people’s minds. Experts List Most Mentioned Cryptos...