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Tag Archives: russia

Russia Partners With Iran to Release a Stablecoin Backed by Gold (Report)

The Russian government and the Central Bank of Iran are reportedly mulling a partnership to create a new stablecoin that can facilitate cross-border settlements. The token will be pegged to the valuation of gold. The Mutual Operation According to a report by the Russian media outlet Vedomosti, the local authorities could collaborate with Iran’s central bank to launch a new crypto asset called “the token of the Persian Gulf region.” Assuming it sees the light of day, it will...

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Illicit Crypto Transactions in 2022 Surpassed $20 Billion for the First Time: Chainalysis

Illegal financial transactions involving cryptocurrencies in 2022 have reportedly surged for a second consecutive year, tapping an all-time high of $20.1 billion.  The previous record was in 2021, when digital assets facilitated criminal proceedings worth $18 billion. Going Up Amid the Bear Market Apart from the significant market decline, the numerous bankruptcies, and scandals, 2022 will be remembered as a flourishing year for illicit cryptocurrency transactions. According...

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Does Edward Snowden Have a Big BTC Stash?

Edward Snowden – the U.S. intelligence leaker now living in Moscow – hinted he has quite a few bitcoins to his name, and that he’s got enough to live on “until the f*cking sun dies.” How Much BTC Does Edward Snowden Own? Since he left the country, many entrepreneurs in Silicon Valley have been sending him bitcoin and crypto units so he could stay afloat. This has turned into a vast and considerable sum over the years, and Snowden appears to be living well thanks to the...

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Russia’s Former President Predicts a Monetary Crash and a Global Shift to Crypto

Dmitry Medvedev – a Russian politician who served as President of the country between 2008 and 2012 – thinks 2023 could see the crash of the International Monetary Fund (IMF) and the World Bank. He suggested that such an event could reduce the power of the euro and the dollar and boost the usage of cryptocurrencies. Tron’s Founder – Justin Sun – agreed with Medvedev’s “insightful comment.” He also maintained that crypto adoption is gradually rising in China and that “the best...

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The Recent Wave of Mysterious Deaths in Crypto

Tiantian Kullander – Co-Founder of the crypto firm Amber Group – unexpectedly passed away in his sleep at the age of 30. The bear market negatively affected his firm, which had to dismiss around 10% of its staff earlier this year. In addition, Amber Group recently revealed it had been an “active trading participant” on the bankrupt crypto exchange FTX. It remains unknown whether his death has some connection to the aforementioned events.H However, he’s not the only one with...

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Sales of Bitcoin Mining Rigs in Russia Surge in Q4: Report

A new report by Kommersant revealed that sales of Bitcoin mining machines in the country surged rapidly in the fourth quarter, a trend backed by a resurgence of demand, despite the chaotic price action of the crypto-asset. The substantial increase was also spurred by cheap equipment and electricity prices. Chilkoot, which happens to be one of the official distributors of crypto mining rigs in Russia, witnessed more sales during the first two months of Q4 compared to the...

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Russia’s President Envisions a Global Payments System With Blockchain Technology

Priorities change according to the events, and Russia’s president may be taking notice. In a recent speech at the Artificial Intelligence Journey 2022 international AI and machine learning conference, Vladimir Putin spoke of the advantages of using a global payment system based on blockchain technology. For President Putin, the primary advantage would be the ability to have a global payments framework uncontrolled by foreign powers. However, he also mentions that using such...

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Russia Inches Closer to Launching a National Crypto Exchange (Report)

The lower chamber of Russia’s parliament – State Duma – has reportedly started working on a draft bill that could aid the creation of a “national crypto exchange.”  The platform needs the approval of the country’s central bank and the Ministry of Finance. The Bank of Russia has previously shown its negative stance on the digital asset industry. Russia’s Potential Crypto Move According to a recent local report, the State Duma plans to make certain amendments to the existing...

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Ukraine, Indonesia, and Russia Led Crypto Adoption in Q3: DappRadar

Crypto adoption is shooting through the roof despite the bear market and uncertainty surrounding asset prices, according to recent findings from the leading decentralized application (dApp) analytics platform DappRadar.  The analysis, dubbed the Blockchain Behavior Report, outlined major trends that affected the blockchain space in the last quarter, including regions where crypto adoption accelerated in both usage and regulatory efforts. Countries That Led Crypto Adoption in...

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Change of Heart: Kraken Closes Accounts for all Russian Users

The US-based cryptocurrency exchange – Kraken – joined the list of platforms restricting services to Russian consumers. The decision comes as a result of the latest sanctions that the European Union (EU) imposed on the largest country by landmass for its invasion of Ukraine. Other trading venues that have already ended ties with Russian users include BlockchainCom, CryptoCom, and more. Russia’s military campaign in Ukraine, which started in February, caused the Western world...

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