Tag Archives: russia

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...

CoinspeakerRussian President Vladimir Putin Signs Law on Digital Ruble The Bank of Russia has promised there will be no obligatory transfer of salaries and pensions to digital rubles when they are finally in use. Similar to cash and non-cash rubles, the digital ruble will also have no expiry date. Russian President Vladimir Putin Signs Law on Digital Ruble

A year after invading Ukraine, Russia’s military fundraising groups have raised millions of dollars in cryptocurrencies despite sanctions imposed by the U.S. and other countries. While it appears that Russian military procurement and disinformation groups have raised about $4.2 million, comparatively smaller than Ukraine’s over $212 million, research by blockchain analytics firm Elliptic has discovered that the nation has raised as much as $20 million in cryptocurrencies....

The largest banking institution in Russia by assets value – Sberbank – will reportedly enable private investors to buy and sell digital currencies in the following weeks. The entity jumped on the bandwagon a few years ago, attempting to launch several cryptocurrency projects. For one, it sought approval to issue its own digital currency and introduced the first blockchain-focused ETF in Russia.  Sberbank Pushes Forward As reported by a local media outlet, the bank will let...

A Russian man has been charged by US authorities for his alleged connection to multiple ransomware schemes that netted him and other attackers nearly $200 million – much of which came through crypto.  Some of the victims of those ransomware attacks included hospitals, schools, and police departments.  $200 Million in Ransomware Payments The culprit – Mikhail Pavlovich Matveev – was part of three ransomware gangs: Lockbit, Babuk and Hive. Collectively, they have obtained...

The US IRS has reportedly provided advanced training to Ukrainian law enforcement agencies in an attempt to detect illegal cryptocurrency transactions carried out by Russian oligarchs and companies.  Numerous entities and experts have argued that Russia could employ digital assets to evade restrictions (imposed by the Western World after the start of the military conflict in Ukraine) or finance war-related efforts. The US Treasury Department sanctioned five crypto addresses...

The US authorities alleged Vladimir Okhotnikov, Olena Oblamska, Mikhail Sergeev, and Sergey Maslakov – the founders of the dubious cryptocurrency investment platform Forsage – to have orchestrated a global pyramid scheme that conned investors with approximately $340 million. All defendants are charged with conspiracy to commit wire fraud and could receive a maximum penalty of 20 years in jail. Another Multi-Million Scam? A federal grand jury in the District of...

Blockchain intelligence company TRM Labs revealed that some major Russian-linked ransomware syndicates rebranded their activities in 2022 to avoid sanctions from Western countries. According to a new report published recently, the rebranding and other significant activities showed notable changes in the cybercrime space and darknet markets (DNMs) after Russia invaded Ukraine. Ransomware Operators Rebranded to Evade Sanctions In the wake of Russia’s invasion of Ukraine,...