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Russian PM takes cue from Iran’s crypto payment permit for imports
30.8.2022
The adoption of digital assets provides a good opportunity to ensure uninterrupted payments for imports and exports, Russia's prime minister said
Russian Crypto Scammers Go Offline, Open Offices, Central Bank Worried About Trend
29.8.2022
An increasing number of financial and crypto pyramids targeting Russian investors have been opening physical offices in the country. The Central Bank of Russia has recently expressed concern over the trend which is seen as an indication that the fraudsters expect growing demand. Russian Crypto...
Bank of Russia Eases Restrictions on Purchases of Dollar and Euro Cash
28.8.2022
The Central Bank of Russia has relaxed some limitations for Russian banks selling U.S. dollars and euros to the public. The increased supply of foreign cash may affect the crypto market in the country as currency restrictions have been a driver of increased demand for digital coins. Monetary...
Report Claims Russia and Iran Plan to Establish a Global Gas Cartel, Moscow to Launch Its Own Precious Metals Exchange
26.8.2022
Following Russian president Vladimir Putin’s statements at the end of June that indicated members of the BRICS nations have formalized plans to create a new “international reserve currency,” Russia is reportedly building the foundations of a global gas cartel with Iran....
While Almost 80% of Russians Know Crypto, Only 6% Understand It Well, Survey Finds
26.8.2022
The overwhelming majority of Russians in big cities are well aware of the term cryptocurrency but those with a good understanding of the topic are quite a small proportion, a new poll has indicated. Experts say that currency restrictions imposed earlier this year are helping growth in interest...
Sanctions, Disagreements Hamper Regulation of Crypto Mining in Russia, Experts Say
25.8.2022
The changing geopolitical and economic environment, as well as persisting differences between responsible government institutions, are hindering the advance of legislation tailored to regulate cryptocurrency mining in Russia. According to a report quoting industry watchers, these factors...
Crypto Miners in Russia’s Irkutsk Region Fined Almost $1.7 Million This Year
25.8.2022
Authorities in the energy-rich Russian region of Irkutsk have imposed hefty fines on crypto miners this year for illegal use of electricity to produce digital currencies. Power utilities have also filed hundreds of lawsuits, a report reveals, quoting prosecutors. Irkutsk Crypto Miners Pay...
Ukraine Blocks Crypto Wallet Used to Raise Funds for Russian Forces
24.8.2022
The law enforcement and counter-intelligence agency of Ukraine has managed to seize the funds in a cryptocurrency wallet used to finance the Russian military campaign in the country. Officials in Kyiv claim that money collected through the wallet has been spent on military equipment for...
Russian Caught Mining Crypto in Covid-19 Clinic
22.8.2022
An IT specialist working for a medical institution in Russia’s Altai Republic has been detained for illegally mining cryptocurrency at the premises of a Covid-19 hospital. The man minted digital currencies using stolen electricity for almost a year before law enforcement busted his crypto...
Moscow Exchange Prepares to List Digital Financial Assets by Year End
21.8.2022
Russia’s largest market for equities, bonds, and derivatives, the Moscow Exchange, intends to launch a product based on digital financial assets by the end of the year, an executive has revealed. The trading platform is already working with a partner to organize the placement of digital...
Leading Japanese Online Broker SBI to Pull Out of Russia’s Crypto Mining Sector
21.8.2022
SBI Holdings, the largest online brokerage in Japan, is shutting down its crypto mining business in the Russian Federation. Amid mounting uncertainty over the future of such investments due to the ongoing conflict in Ukraine, as well as decreased mining profits, the financial firm said it plans...
Russian Hospital Employee ‘Mined Crypto in a COVID-19 Ward’; SBI Crypto to Halt Mining in Russia
19.8.2022
A Russian medical specialist could face up to two years behind bars after authorities caught him allegedly running an illegal mining setup in a facility designed to treat coronavirus patients.
The specialist had been placed in charge of information security at a state-run hospital...
Russian Accused of Laundering Cryptocurrency From Ransomware Attacks Extradited to US
18.8.2022
A Russian national suspected of laundering ransomware payments in cryptocurrency on behalf of cybercriminals targeting hospitals has been extradited to the U.S. by the Netherlands. The man was allegedly involved in the criminal activity for a period of three years before his arrest in Amsterdam...
Electricity Consumption of Russian Crypto Miners Spikes 20 Times in 5 Years, Research Finds
18.8.2022
Power needs of cryptocurrency miners in Russia have grown significantly since 2017, with consumption of electrical energy seeing a 20-fold increase over the five-year period. In 2021, the minting of the coin with the largest market cap, bitcoin, required 1.25 gigawatts in the country. Experts...
Russian Bitcoin Miners ‘Used 1.25GW’ to Power Their Rigs Last Year, Double the 2020 Total – Report
17.8.2022
Russian bitcoin (BTC) miners reportedly used a whopping 1.25 gigawatts (GW) of electrical power to fuel their activities in 2021, almost double their total for 2020 – as the industry continues to expand in the nation.
Per Novie Izvetiya, Intelion Data Systems experts calculated that altcoin mining...
Russia’s GDP Decline Less Severe Than Expected, Wall Street Returns to Russian Bonds, Putin Criticizes US ‘Hegemony’
17.8.2022
While the ongoing war in Ukraine continues, the Ministry of Economic Development of the Russian Federation detailed this week that Russia’s economic hardships are less severe than expected. Russia’s economic ministry says that the economy’s gross domestic product (GDP)...
Russian Banks to ‘Start Handling Digital Ruble by 2024’
16.8.2022
A Russian central bank digital currency (CBDC) could be around the corner, with commercial banks in the country now being told by the central bank to prepare to handle a digital ruble within the next two years.
According to a document dated August 11 and issued by the Bank of Russia –...
Bank of Russia Aims for Full Launch of Digital Ruble in 2024
14.8.2022
The Central Bank of Russia plans to begin the comprehensive implementation of the digital ruble two years from now, according to a paper detailing its monetary policy priorities for the 2023 – 2025 period. As the development of the state-issued digital currency continues, the monetary...
Crypto Exchange BTC-e Operator Vinnik Reportedly Denied Bail in US, Maintains Innocence
14.8.2022
Alexander Vinnik, the alleged owner and operator of the infamous cryptocurrency exchange BTC-e, has been found not eligible for release on bail in the United States, where he was recently transferred from Greece. The Russian, accused of large-scale money laundering through the now-defunct trading...
Alleged BTC-e Operator Alexander Vinnik in US Custody After Immediate Extradition From Greece
6.8.2022
Russian IT specialist Alexander Vinnik, accused of owning and running the infamous crypto exchange BTC-e, has been handed over to the U.S. This week, Greek authorities proceeded with the extradition, after his return from France, despite Vinnik’s defense protesting the move and calling...