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Majority of Russia’s Financial Pyramids in Q1 Linked to Crypto, Scammers Exploit Sanctions Topic
8.5.2022
Many of the financial pyramids identified in Russia during the first quarter of the year have been associated with cryptocurrencies, a top central bank official has revealed. Fraudsters are actively exploiting the hot topics of the day, including the sanctions theme. Pyramids Offer Russian...
World Bank Predicts 3% Gold Price Growth, Expert Says a $3K per Ounce ‘Is More Likely Than Not’
30.4.2022
The World Bank has said it expects the price of gold to rise by 3% in 2022 but warned the price might fall sharply if the Russian central bank decides to offload large quantities of the commodity. The Russian Factor After the price of gold surged past the $2,000 mark in early March, a new […]
Binance blocks crypto accounts of relatives tied to the Russian government
29.4.2022
Binance blocked the account of the Kremlin spokesman's daughter when she tried to use the exchange following the economic sanctions imposed upon Russia
Bank of Russia Seeks to Allow Stock Exchanges to Trade Digital Assets
28.4.2022
The Central Bank of Russia has recently proposed authorizing traditional stock exchanges to operate in the digital assets market. Industry watchers say the regulator aims to provide investors with an option to trade cryptocurrencies in a controlled environment. Russian Stock Exchanges to List...
Bank of Russia to Pilot Digital Ruble Settlements in 2023
25.4.2022
Russia’s monetary authority intends to conduct the first settlements with the digital ruble next year, its governor announced this week. Speaking to Russian lawmakers, the official highlighted the important role the new currency is going to play for Russia under sanctions. Russia to Trial...
Russian central bank needs to ease up digital asset projects, governor says
21.4.2022
Elvira Nabiullina is concerned about the Bank of Russia not treating digital asset projects softly enough to attract funding and maintain the economy
Russia to include crypto into its tax code: Here is what the rules might look like
20.4.2022
Amendments to the tax code have passed the first round of parliamentary consideration in February
Digital Ruble ‘Much Needed,’ Russia’s Central Bank Says, Won’t Delay Testing
19.4.2022
The Central Bank of Russia has emphasized the importance of moving forward with its digital ruble project. According to a statement by a top representative, the monetary authority has no intention to delay the trials despite not all invited banks being ready to participate yet. Bank of Russia...
Russian bankers reportedly want to outlaw noncustodial crypto wallets
18.4.2022
The Association of Banks of Russia has previously collaborated with Binance as part of its expert center focused on crypto regulation
Russia should use crypto for payments with Africa, commerce exec says
14.4.2022
Russia should deploy cryptocurrencies and CBDCs for settlement and payments with Africa, the president of the Chamber of Commerce and Industry believes
Cryptocurrencies Carry Systemic Risks, Threaten Ruble, Bank of Russia Insists
13.4.2022
The spread of cryptocurrencies brings significant risks for Russia’s economy, financial stability, and national fiat, the monetary authority in Moscow has reiterated. The central bank has reaffirmed its hardline stance on decentralized digital money in a new report published as...
Russia’s Central Bank Slashes Benchmark Rate, Pegs RUB to Gold — Ruble Rebounds to Pre-War Levels
9.4.2022
Amid the Ukraine-Russia conflict, the Russian ruble has managed to rebound despite the strict sanctions imposed against the Russian Federation. The country’s central bank has taken a few steps to protect the nation’s currency as the Bank of Russia revealed a fixed price for gold...
Russians collectively hold $130B in crypto, prime minister says
8.4.2022
Russians reportedly hold about $130 billion in cryptocurrency but the government is yet to adopt crypto legislation
Bank of Russia Rejects Idea of Using Cryptocurrency to Circumvent Sanctions
7.4.2022
The Central Bank of Russia has turned down a proposal to allow the use of digital currencies for the purpose of sanctions evasion. The monetary authority believes this is hardly an option as Western regulators are already taking steps to prevent such transactions. Employing Bitcoin to Evade...
Russia’s Sberbank Denies Involvement in Recently Launched ‘Sbercoin’
6.4.2022
Sberbank, the largest bank in the Russian Federation, has denied connection to a new cryptocurrency called “sbercoin.” The project is offering high returns to buyers of the token, which was launched shortly after Bank of Russia allowed Sberbank to issue digital currencies. Sbercoin...
Anonymous Claims It Has Released 28GB of Bank of Russia Documents
28.3.2022
Hacking group Anonymous has reportedly published a large amount of data allegedly belonging to the Bank of Russia. The release comes after the collective announced it had hacked Russia’s central bank earlier this week, a claim that was denied by the monetary authority in Moscow. Anonymous...
Russian Prime Minister, Economy Ministry Support Legalization of Cryptocurrencies
27.3.2022
Prime Minister Mikhail Mishustin and the Russian Ministry of Economic Development have backed efforts to regulate cryptocurrencies and integrate them into the country’s economy. The support comes amid mounting sanctions over the war in Ukraine which restrict Russia’s access to global...
Anonymous Says It Hacked Bank of Russia, Monetary Authority Denies Claim
25.3.2022
Anonymous has attacked the Central Bank of Russia (CBR), according to a post on social media. The hacking group, which vowed to hit Russian government websites after Moscow launched its military assault on Ukraine, now says it’s also targeting foreign companies still operating in Russia....
Idea to Use Digital Ruble as Reserve Currency Circulated in Sanctioned Russia
20.3.2022
A call to make the digital ruble a reserve currency has been issued in the State Duma, the lower house of Russia’s parliament. Meanwhile, concerns have been raised in the West that the new incarnation of the Russian fiat may be employed to evade sanctions that have been isolating...
Russian Banks Told to Track Crypto-Related Transactions Amid Currency Restrictions
19.3.2022
Bank of Russia has recommended commercial banks pay heightened attention to their clients’ transactions related to cryptocurrencies. The regulator requires the financial institutions to monitor such activity against the backdrop of restrictions on currency operations amid western sanctions....