Tag Archives: russia

Russia, a member of the BRICS alliance, announced the development of a new blockchain-based payment system to revolutionize trade settlements. The system is set to become an independent mechanism for conducting transactions among BRICS member nations. Blockchain-Based Payment System Plans The BRICS alliance, consisting of Brazil, Russia, India, China, and South Africa, plans to collaborate on developing a payment system utilizing blockchain technology and digital innovations....

Cryptocurrency exchange Binance has announced the suspension of Russian ruble (RUB) deposits starting from November 15, 2023. This decision by the company comes following its recent announcement regarding the sale of its entire Russian business to CommEX. Binance to Cease Russian Ruble Deposits In a November 10 announcement, Binance said it would be stopping Russian RUB deposits as of 00:00 on November 15, 2023 (UTC), marking a crucial step in its decision to exit the Russian...

Binance announced the sale of its Russian entity to a relatively unknown company called CommEX, the transaction of which raised several questions and concerns within the crypto community, primarily due to the limited information available about the company and its ownership. Moreover, CommEX was officially launched on Tuesday. To address these concerns and provide clarity, Binance CEO Changpeng ‘CZ’ Zhao took to X (formerly Twitter) to provide insights into the deal and its...

In a significant step towards tackling cybercrime and bolstering global security efforts, the IRS Criminal Investigation (CI) recently collaborated with international counterparts to provide advanced training to Ukrainian law enforcement officers. The focus was on the intricacies of cryptocurrency and blockchain tracing. Strengthening Global Efforts Against Crypto-Enabled Crime Expanding on the previous successful cyber training given to Ukrainian law enforcement in May, the...

The Bank of Russia is contemplating 2025 to be the year when the digital ruble, the local central bank digital currency (CBDC), may see widespread adoption in the country. This move indicates the central bank’s strategic approach to modernizing the payment landscape in the nation. Olga Skorobogatova, the first deputy governor of the Bank of Russia, emphasized that the digital ruble is viewed as an additional payment method alongside existing options like the Faster Payments...

The US National Security Agency (NSA), Cybersecurity and Infrastructure Security Agency (CISA), Federal Bureau of Investigation (FBI), and the UK National Cyber Security Centre (NCSC), have released a joint report cautioning users to remain vigilant against recently discovered malware that is being deployed to target crypto wallets and exchanges. The advisory report unveiled a malware campaign conducted by Russian cyber actors against the Ukrainian military. Russian...

CoinspeakerOKX and Bybit Remove 2 Russian Banks from Payments List, Here’s Why The spotlight recently came on sanctioned Russian banks after they were spotted as payment options on some top crypto exchanges. OKX and Bybit Remove 2 Russian Banks from Payments List, Here’s Why

Research conducted by the information service provider Bankinform estimated that many Russians are interested in the news surrounding the potential launch of a digital ruble. However, 32% are not in favor of such a monetary product, viewing it as some sort of scam. The world’s largest country by landmass has been among the most active on the CBDC scene. The pilot version, which will include testing with banks, businesses, and consumers, is expected to start in mid-August....

Supporters of war-torn Ukraine have reportedly donated over $225 million worth of crypto to the country in its fight against Russia.  Prominent companies and figures part of the digital asset industry, such as the world’s largest cryptocurrency exchange Binance and Tron’s founder Justin Sun, have also contributed to the nation’s efforts. The Strong Start Followed by Stagnation According to a Crystal Blockchain report (seen by CoinDesk), Ukraine has received almost a quarter...

The world’s largest country by landmass is set to roll out a digital ruble next week after Russian President Vladimir Putin greenlighted the project on Thursday. The text of the bill amends Russia’s Civil Code to allow the digital ruble to be used for payments, while empowering Russia’s central bank to let real citizens use the currency starting August 1. Accounts for the digital ruble will be managed directly by the central bank, rather than commercial banks.In a statement...