Tag: Russia

On Thursday, Russia’s crypto regulatory situation was said to be in a state of flux. First, according to a Reuters report, the Central Bank of the country is considering a ban on cryptocurrencies, citing concerns to financial stability and a growing amount of transactions as reasons. If passed, the action would be in line with […]

The central bank of Russia continues carrying a hard stance towards the crypto industry. It has now officially banned mutual funds from investing in digital assets like Bitcoin (BTC). The bank of Russia on Monday announced an official statement on investment opportunities regulations over mutual investment funds. The report says that the document restricts fund […]

In May, China placed a ban on Bitcoin mining, in a move that meant that mining firms would have to either close up shop or look elsewhere. And as crypto miners went in search of crypto-friendly locations, Kazakhstan was one of the welcoming places. In fact at a point, the government did say mining activities will […]

The regulatory bodies all around the world including Russia, are monitoring the crypto market to prevent any illicit activity, including tax evasion, money laundering, or terrorist funding. Nation’s Federal Taxation Service (FTS) head Daniil Egorov during an interview with the local publication RBC on November 22, said that Crypto could potentially cause major erosion to the tax […]

No country wants to be left behind in the race to adopt a Central Bank Digital Currency (CBDC). While some nations have taken the lead, others are making significant progress in the creation of a national stable coin. For the longest time, Russia has been in the works of building a CBDC. A recent study […]

Russia has reportedly failed to help a group of victims of a now-defunct crypto exchange Wex. According to reports, the victims had filed a request with the Russian Ministry of Interior to help do its part, by blocking crypto funds that were removed from a wallet controlled by Wex, especially as more than 10,000 ETH […]

The Russian State Duma has built a working group to form regulations for the cryptocurrency mining industry. Vyacheslav Volodin, State Duma Chairman on Thursday, said during the official announcement that he has instructed the legislature to make the team address regulatory gaps in the crypto industry. The Representative Committee on Security and Anti-corruption stated through its first […]

Russia has notably been working on plans to de-dollarize its economy in a bid to reduce economic sanctions and threats the US Dollar poses to its businesses. Speaking in an interview with local media platform, Interfax, Aleksandr Pankin, deputy minister of Foreign Affairs of Russia, said the broader plan in reducing the potency of the […]

Authorities in Russia and Belarus have started initiating steps to ensure that crypto miners do not enjoy subsidized energy. The implication of this move is that businesses involved in the minting activities of digital coins might have to adopt increased electricity tariff rates as opposed to what general energy users will be paying. Cryptocurrency Miners […]

Russia is presently aiming to limit all transactions to crypto exchanges in a bid to prevent unskilled crypto purchases. According to local news Interfax, chairman of the Russian State Duma Committee on Financial Markets, Anatoly Aksakov has said that Russia must adopt new laws that will enable it to protect retail investors from losing their […]

Oil prices are likely to stabilize globally very soon, as Russia and Saudi Arabia are getting very close to finalizing an oil production cut deal. It was confirmed by the CEO of the Russian Direct Investment Fund Kirill Dmitriev. After an oil production supremacy battle between Russia and Saudi Arabia for the past few weeks, […]

Through the state-owned company Aramco, Saudi Arabia plans to raise its oil production from 12 million BPD to 13 million BPD. The sell-off was as a result of the production disagreement with non-OPEC member Russia. Saudi Arabia, a major crude oil producer, announced that it plans to raise oil production to counter the low prices […]

Brent crude Oil Prices Crash nearly 31%, dropping to $31.02 per barrel with the year-to-date crude price dropping by 50%. The U.S. benchmark commodity is witnessing its worst day in almost the last three decades since January 17, 1991. Last Friday, the OPEC and non-OPEC allies failed to reach a consensus on cutting down oil […]

Cryptocurrency and Bitcoin is not money, while operations with it should be taxed – this and other statements were previously made by Mikhail Mishustin, who is now new Prime Minister in Russia. Russia to Become a Digital Platform for Bitcoin Nevertheless, despite the fact that Mishustin doesn’t seem to shift the government’s approach towards cryptocurrencies, […]

According to recent reports, the Bank of Russia has started using a regulatory sandbox to test the performance of Russian Central Bank Stablecoin. Russian Central Bank Warming to Stablecoin Russia’s stance towards cryptocurrencies has always been questionable, with the country’s intentions and goals never being fully known to anyone. However, according to recent reports, it […]

Russian authorities have reportedly banned CoinTelegraph in the Russia. The very famous crypto news site had existed in the list of blocked sites since 2017; however, it was only yesterday, the Russian Federal Service for Supervision of Communications, Information Technology and Mass Media, implemented the block on a severe level. The blocking of the CoinTelegraph […]

Vladimir Potanin is used to dealing in hard realities – Russian Oligarch Crypto Token. The billionaire oligarch started his business empire in the Wild East days of the 1990s, when the assets of the old Soviet Union were up for grabs and opportunistic entrepreneurs could make mega-roubles if they were in the right place at […]