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Russians Aware of Bitcoin Divided on Proposed Crypto Ban, Poll Finds
30.1.2022
A new survey has indicated that Russians who have heard about cryptocurrency are deeply divided in their opinions on the recently suggested ban on operations with digital assets. A third of the respondents support the central bank’s proposal while an equal number of participants in...
Utility Seeks $800,000 From Russians Mining Crypto With Cheap Power
27.1.2022
The main utility company in Irkutsk is looking to collect almost $800,000 from owners of crypto farms that have allegedly caused a spike in electricity consumption in the Russian region. The supplier accuses the miners of burning cheap household electricity in what is, in fact, a business activity....
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...
Head of Investigative Committee Calls for Mandatory Identification of Cryptocurrency Users in Russia
15.1.2022
Russians who use cryptocurrency should not be anonymous, the man who chairs Russia’s federal investigating authority has recently stated. The official leading efforts to fight corruption in the government called for additional regulations, including the introduction of mandatory...
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...
Power Outages in Russia’s Irkutsk Region Blamed on Home Miners
2.1.2022
Russians mining cryptocurrency in their homes have been blamed for the problems with the electricity supply in Irkutsk. Power outages have become a frequent occurrence in the region which maintains the lowest electricity rates in Russia. Subsidized household energy has turned mining into a source...
Bank of Russia to Collect Data on Crypto-Related Transactions Between Individuals
28.12.2021
The Central Bank of Russia (CBR) plans to obtain information from commercial banks pertaining to some money transfers between private individuals, including clients trading cryptocurrency. The measure is likely to affect online crypto exchangers which the regulator accuses of conducting illegal...
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...
Russian Government Allows Regions to Raise Electricity Rates for Crypto Miners
25.12.2021
The federal government in Moscow has permitted regions to determine local electricity tariffs for the population, a measure that will affect crypto mining at homes. Subsidized household electricity in Russia is often used to mint digital currencies in basements and garages. Regions in Russia...
Bank of Russia to allow crypto investment via foreign firms: Report
21.12.2021
Russian citizens and businesses will reportedly have the right to acquire Bitcoin, but not via local infrastructure
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...
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 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....
Annual Volume of Crypto Transactions Made by Russians Reaches $5 Billion, Bank of Russia Finds
28.11.2021
With the growing capitalization of the crypto economy, Russians have been making crypto transactions worth billions of dollars a year, data gathered by the Central Bank of Russia shows. Russian residents are some of the most active participants in the crypto market, the regulator has acknowledged....
Russians transact $5B in crypto each year, Bank of Russia says
25.11.2021
Though Russia has become a global leader in the crypto market, the Bank of Russia is still skeptical about Bitcoin
Russians to Pay Fees on Digital Ruble Transactions, Central Bank Says
21.11.2021
Users of Russia’s central bank digital currency are going to pay a fee for each transaction, a high-ranking representative of Bank of Russia has recently announced. The digital ruble charge, however, is not going to exceed those currently applied to fast payments in the country. Bank...
Digital Ruble to Give Russians What They Need, Bank of Russia Governor Says
11.11.2021
The digital ruble is what Russian citizens need as it will facilitate inexpensive and reliable payments, the head of Bank of Russia, Elvira Nabiullina, told participants in an international banking forum. The governor also warned that cryptocurrencies and fiat-backed stablecoins create risks...
Moscow Not Planning to Ban Russians From Buying Crypto Abroad
13.10.2021
Russia is not going to follow China’s course and does not plan to ban its citizens from purchasing cryptocurrency on foreign exchanges, a high-ranking government official has indicated. Russians will not be able to pay with digital coins in their own country but are free to use crypto...
Bank of Russia to ‘Slow Down’ Payments to Crypto Exchanges, Curb Russians’ Impulsive Investments
19.9.2021
Central Bank of Russia is now working with commercial banks in order to delay payments made to digital asset exchanges. The move aims to limit “emotional” cryptocurrency purchases made by “unqualified” Russian investors, a CBR official revealed. The move is likely...
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...