Tag Archives: russia

The Russian Finance Ministry introduced public notices and said they started developing a comprehensive regulatory framework for the cryptocurrency industry. During the discussions, citizens and financial market players will be able to give their proposals on the matter. What Has Happened so Far? Ever since the start of 2022, Russia’s top authorities haven’t been able to come to an understanding of how to approach the digital asset sector and what rules to impose on it. The...

Despite Vladimir Putin’s request, the Bank of Russia and the Finance Ministry did not shake hands on a single solution regarding cryptocurrency regulations. While some reports indicated that the largest country by landmass will not ban digital assets, it is still uncertain what legislation it will impose. No Resolution After the Meeting The central bank of Russia and the Finance Ministry share quite different viewpoints on the digital asset space. Last month, the former...

Ukraine is utilizing bitcoin in crowdfunding campaigns to fight against the ongoing threat from Russia. Ukraine Is Using BTC to Prepare for War Ukraine is allegedly being stalked by its neighbor to the east. Russia currently has more than 100,000 troops amassed at the Ukrainian border. Needing funds to boost its military resources and keep up its strength in the face of adversity, Ukraine has turned to the world’s number one digital currency by market cap. Thus far,...

The Russian Ministry of Internal Affairs has reportedly taken down four major illegal Dark Web sites, which have made over $260 million in cryptocurrency proceeds from the sale of stolen credit cards. Those platforms are Ferum Shop, Trump’s Dumps, Sky-Fraud forum, and UAS Store. The Latest Seizures Known as “carding” websites, these illicit platforms offer stolen credit cards, and buyers can purchase them with premium gift cards, luxury goods, or (as in this case)...

Anton Siluanov – Russia’s Minister of Finance – believes local financial institutions should have a universal license to facilitate cryptocurrency trading services. His viewpoint stands far from the central bank’s proposal to impose a complete ban on all digital asset endeavors. Another Vote in Favor of Regulation A few weeks ago, Russia’s central bank urged the local government to impose a blanket ban on all digital asset endeavors inside its borders. The institution argued...

A recent estimate by the Russian government has revealed that locals currently own more than 16.5 trillion rubles ($214 billion) worth of cryptocurrencies. Russians Control 12% of Crypto Market According to a Bloomberg report on Tuesday, this figure represents approximately 12% of the total value of global crypto holdings or one-third of the market cap of Russia’s stock index. Citing unidentified people familiar with the matter, the report noted that the crypto holdings...

The world’s leading digital asset platform – Binance – is reportedly looking into expanding its services to Russia and its neighboring countries. The company believes there is a lot of prospect for new regulations in the area that could boost its business. Russia Is an Attractive Region for Binance Earlier this year, it seemed like Russia would follow China’s path and impose a total crypto ban after a proposal from the country’s central bank. Shortly after, though, the...

To say that the last seven days were rough on the cryptocurrency market would be a wild understatement. A lot happened, and the volatility jumped through the roof, so let’s start with Bitcoin. BTC’s price started going down right from the get-go. Last Saturday, it went from $39K to $36K, but the bears weren’t finished yet. Later in the day, BTC dropped below $35K and, over the next hours, consolidated around that level. On Sunday, the cryptocurrency attempted to recover a...

The central bank of Russia is allegedly considering a ban on all crypto activities, including transactions and mining. If this goes through, Russia will become the next in what appears to be a string of countries that have taken on very anti-crypto attitudes as of late. Russia May Be Next to Ban Crypto Prior to Russia is China, which announced over the summer that it was going to be ending all crypto and bitcoin mining projects within its borders as it worked to become...

The central banking institution of the largest country by landmass – the Bank of Russia – urged the local government to impose a blanket ban on all cryptocurrency endeavors on Russian territory. It argued that digital assets remind of a pyramid scheme, undermine the sovereignty of monetary policy, and threaten the local financial network. Russia Calls for a Crypto Ban Many Russian authorities do not classify as the most crypto-friendly politicians since they have repeatedly...