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Russian Crypto Industry Queries Government About Proposed Criminal Liability for Miners
18.3.2023
The organization representing Russia’s crypto sector has asked the government in Moscow to clarify a proposal to introduce criminal liability for “gray” miners. The draft legislation seeks to punish those who fail to report their income to the state and share information about their digital...
Moscow City Crypto Exchanges Ready to Send Cash to London, Report
17.3.2023
An investigation into digital asset exchanges in the Russian capital has established that some of them are ready to buy digital coins and deliver paper money in the U.K. The transfer of funds does not usually involve the identification of the clients, Transparency International Russia reveals in...
Digital Assets Worth 2 Billion Rubles Issued in Russia in Less Than a Year
16.3.2023
Digital financial assets (DFAs) for a total exceeding $26 million have been issued in Russia in the past year. This new market has been developing since it was regulated in 2021 and the country’s monetary authority started licensing issuers in the following year. Volume of Digital Assets Increases...
Russians Reportedly ‘Using Crypto Exchanges to Send USDT to UK’ – Here’s How
16.3.2023
Russians are using “several” Moscow crypto exchanges to send Tether (USDT) to people based in the UK, a new report has claimed.
Per the NGO Transparency International’s Russia branch and the media outlet The Bell, “several crypto exchanges” are now “operating” in Moscow, where they “offering...
Founder of Crypto Exchange Bitzlato Denies US Charges
16.3.2023
The founder of cryptocurrency exchange Bitzlato has denied guilt in a money laundering case in the United States. Anatoly Legkodymov was arrested in Miami, in mid-January, for his role in running the trading platform which allegedly processed over $700 million in illicit funds. Bitzlato Founder...
Blockchain is the answer to Russia's settlement issues, banking exec says
15.3.2023
There is no technical reason preventing Russia from creating its own blockchain-based system, blockchain provider Fuse Network's CEO believes
Binance to Restrict Ukrainian Hryvnia Operations Via 2 Payment Providers
15.3.2023
Crypto exchange Binance will stop processing transactions with Ukrainian hryvnia through two payment platforms later in March. The move follows an earlier suspension of deposits and withdrawals using bank cards in the national currency of Ukraine. Ukrainian Users Lose More Fiat Options to Trade...
Russians Use Tether to Send Money to the West, Evading Sanctions and KYC – Transparency International
15.3.2023
Russian banks may currently be cut off from the SWIFT international payments network. But, despite wide-ranging international sanctions against the Kremlin, money keeps flowing between Russia and the West, and a range of brokers are ready to turn Russian rubles into foreign currency abroad, in cash
Russian MP Calls for Gov’t to Hurry Crypto Mining Legalization – Here’s His Rationale
14.3.2023
A Russian lawmaker has called for the legalization of crypto mining – and has claimed that bringing mining out of a “grey” legal sphere as soon as possible will benefit both miners and the government.
The comments came from the MP Sergei Malikov, a member of the Moscow Regional Duma, where...
Russian Hackers Threaten Ukrainian Stalker 2 Devs, Things Go Badly
13.3.2023
On the 11th of March, a post on a Russian fan page for the Stalker series boasted of having hacked the in-development Stalker 2, and started making threats to the Ukrainian developers of the game. Those developers have now responded, and basically told them to go to hell.Read more
Bank of Russia Registers Another Digital Asset Issuer
13.3.2023
The Central Bank of Russia has added another entity to its register of authorized issuers of digital financial assets. The platform, called ‘Masterchain,’ becomes the fifth ‘information system operator’ in the country that can legally tokenize traditional assets and organize their trade. Number...
Revised Bill Suggests Prison Time for Russian Crypto Miners Evading Taxation
12.3.2023
A draft law designed to regulate crypto mining in Russia introduces harsh penalties for miners failing to report digital assets to the state. In its latest revision, the bill also threatens to punish those who organize illegal trading of cryptocurrencies with imprisonment and hefty fines. Forced...
Cryptocurrency Turnover Growing in Russia, Watchdog Reports to Putin
12.3.2023
Use of cryptocurrencies is increasing in Russia, the head of the country’s financial watchdog has informed President Putin. The agency, Rosfinmonitoring, is following thousands of participants in digital asset transactions with a new blockchain analytics system, the official revealed. Volume...
Binance Bans Russians From P2P Transactions With Dollars and Euros
10.3.2023
Cryptocurrency exchange Binance has introduced new restrictions for Russian users, in accordance with the latest European sanctions. The platform is restricting access to peer-to-peer (P2P) transactions in U.S. dollars and euros for traders based in the Russian Federation. Binance Prohibits...
Russian AML Regulator Says It’s Monitoring 25,000 Crypto Users – Here’s How
10.3.2023
The top Russian anti-money laundering regulator says that it is “monitoring” over 25,000 crypto users – and claims it has sophisticated tools that let it detect illegal activities.
Per Finam, Yury Chikhanchin, the head of the Federal Financial Monitoring Service (Rosfinmonitoring) recently held...
US REPO task force names crypto as target in efforts involving $58B in sanctioned assets
9.3.2023
Members of the task force have worked to “counter Russian sanctions evasion”, which included illicit crypto transactions and money laundering schemes
Russian Crypto Industry Group Calls for Putin Talks – This Is What It Wants to Discuss
9.3.2023
Leaders of Russia’s cryptoasset and blockchain industry say they want to meet President Vladimir Putin for face-to-face talks about crypto regulation.
The media outlet RBC reported that the request was made by the Russian Association of the Crypto Industry and Blockchain (RACIB) and a software...
Fraudsters Offer Russians Bogus Chance to Invest in Fake ‘State Cryptocurrency’
9.3.2023
Internet users in Russia have been targeted in an email campaign advertising the launch of an alleged cryptocurrency issued by the state. Potential victims are encouraged to follow a link to the website of the fraudulent investment scheme, security experts said. Thousands of Investment Offers...
India-Russia Oil Deals Chip Away at Dollar Dominance in International Trade
8.3.2023
On Wednesday, Reuters reported that Western sanctions on Russia and oil trading between Moscow and India have started to erode the dollar’s decades-old dominance of international oil trade. The oil deals between India and Russia have been settled in other currencies, putting the U.S....
Russian crypto advocates urge Putin to stop regulatory hostility
8.3.2023
Russia’s existing regulatory stance on the cryptocurrency industry would potentially lead the country to “direct financial losses,” the RACIB argued