Several weeks after signing legislation that required Russian officials to disclose their crypto holdings, the world’s largest country by landmass has gone a step further by prohibiting them from owning any digital assets. The Ministry of Labor and Social Protection of the Russian Federation has sent a letter to civil servants regarding their cryptocurrency holdings, according to Forklog coverage. It reads that such officials have until April 1st, 2021, to get rid of their digital asset...
Read More »Russia’s Sberbank Seeks Approval To Launch Its Own Cryptocurrency
Giant state-owned Russian bank Sberbank has reportedly sought approval from the nation’s central bank to launch its own cryptocurrency through a blockchain platform.Separately, a Russian court has removed the leading crypto exchange Binance from a regulator’s blacklist.Sberbank Looks Into Launching Its Own Crypto?According to the local coverage, Sberbank of Russia, one of the largest banks in the world’s largest country by landmass, has applied with the central bank to register a blockchain...
Read More »President Putin Signs A Decree Requiring Russian Officials To Disclose Cryptocurrency Holdings
Russia’s attempts to provide more clarity toward cryptocurrencies continue with a new amendment to the Digital and Financial Assets (DFA) – a law that’s already in effect. The country has signed a decree obliging Russian officials to reveal their digital asset investments by June 30th, 2021.Russian Officials To Disclose Crypto HoldingsAccording to local news, President Vladimir Putin has signed the decree on December 10th. Country officials have to disclose thorough information regarding...
Read More »Russia’s Sberbank Seeks to Create Its Own Digital Asset Next Year
One of Russia’s largest banks – known as Sberbank – says that it’s potentially looking to issue its own cryptocurrency sometime next year.Sberbank Is Joining the Crypto BandwagonThe coin – which would be known as Sbercoin – will be issued directly by the financial institution as part an experiment through its recent partnership with JPMorgan, which in the past, has also taken the liberty of issuing a cryptocurrency all its own known as JPM Coin. Many banks and financial enterprises throughout...
Read More »Russia’s Prime Minister Wants To Lead Crypto Usage In a ‘Civilized Direction’
Russia’s attempts to establish clear legislation on digital assets continue. During a recent meeting that was primary focused on the COVID-19 consequences on the country’s economy, Prime Minister Mikhail Mishustin made a few remarks on cryptocurrency regulations.Mishustin called them a “relatively new tool, the interest in which is constantly growing.” As such, he believes that the world’s largest country by landmass has to put into motion a plan to steer the market in a “civilized...
Read More »Russia Seeks Imprisonment for Undeclared Bitcoin and Cryptocurrency Transactions
In the latest turn of events, the Russian Ministry of Finance has taken a harsh stance wrt cryptocurrency regulations. Crypto holders on not disclosing their digital assets (worth 45 million rubles or more) at least twice in a period of three years stand to face a jail term of up to three years. This, however, is an amendment from a previous version. Russian BTC And Crypto Holders Could Face Jail Term As per the latest update on Bitcoin and cryptocurrency regulation, Russia’s...
Read More »Crypto More Popular Than Gold Among Russian Investors: Report
A survey among over 2,000 Russian investors has placed cryptocurrency next to gold in terms of popularity. Moreover, younger investors aged below 30 have displayed significant favoritism towards digital assets. Crypto Ranks Above Gold Among Russian Investors According to the study published by the World Gold Council, investors from the world’s largest country by landmass have allocated the most funds into generally accepted as safer instruments such as savings accounts,...
Read More »The United States Gets Its Crypto Back from Two Russian Hackers
The United States appears to be angry with crypto hackers as of late, and the country is making it clear that it’s not going to put up with bad actors anymore. The U.S. is presently accusing two Russian hackers of making off with roughly $17 million in assorted crypto units. The accusations come from the Justice, State and Treasury Departments.The United States Will Not Put Up with Crypto TheftThe Treasury has identified two individuals allegedly involved in the scheme. They are Danil...
Read More »Report: The US and China Lag Behind Ukraine and Venezuela in Cryptocurrency Adoption
A report compiled by the blockchain forensics company Chainalysis indicated that cryptocurrency adoption is growing globally. By exploring four key metrics and separating the data country by country, the firm’s Global Crypto Adoption Index 2020 showed that Ukraine, Russia, and Venezuela lead the way.The metrics take into consideration the purchasing power parity (PPP) per capita. They measure on-chain cryptocurrency value received, on-chain retail value transferred, the number of on-chain...
Read More »Russia Can Legalize Bitcoin Mining But There’s a Catch
Russia’s On Digital Financial Asset (DFA) legislation has received yet another set of proposed amendments that can push the country into launching a full-scale ban on cryptocurrency usage, with three exceptions – inheritance, bankruptcy, and enforcement proceedings.Russia’s DFA Sees New PropositionsThe world’s largest country by landmass has been rather indecisive, to say the least, in its approach towards cryptocurrency regulations. The nation successfully passed the DFA bill in July after...
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