News with the tag "Russia crypto regulation"

Russia is shifting its focus towards Bitcoin and other cryptocurrencies recently, Finance Minister Anton Siluanov confirmed. According to his recent statement, the Russian firms are already using BTC and other digital currencies for foreign trade after recent legislative changes. Notably, this comes...

In a recent development, Russia has imposed a ban on crypto mining in six regions from January 1, 2025. Notably, the restrictions will be imposed on the regions for six years and will be in effect till March 15, 2031. This development also comes just after Russian lawmakers proposed creating a Bitco...

A Russian lawmaker has suggested creating a national Bitcoin reserve to protect Russia’s financial stability amid ongoing geopolitical risks and international sanctions. Anton Tkachev, a deputy from the “New People” party in the State Duma, submitted an official appeal to Finance Minister Anton Silu...

Russian President Vladimir Putin has signed the final law on crypto taxation while recognizing digital assets as property. This taxation law will also be applicable for currencies used for foreign trade settlements “within the framework of the experimental legal regime (ELR).” Russian President Puti...

Russia has once again made headlines in the digital assets space, as a recent report showed that the nation is gearing up to start crypto exchange and payment trials. The report, citing people with knowledge of the matter, said that the country will kickstart the trials as soon as next week. It woul...

Russia is now planning to launch two crypto exchanges, one in Moscow and the other in St. Petersburg. This move underscores the need to boost foreign economic activity (FEA), Moreover, it aims to build an RMB-linked BRICS stablecoin. The crypto exchange initiative is designed to provide a new platfo...

With a new BRICS Payment System rolling out just two weeks before, a staggering 159 countries have shown interest and willingness to adopt it posing a challenge to America’s much popular SWIFT banking system. Several nations believe that America is weaponizing the SWIFT system against countries that...

According to a recent report, Russia’s Duma has approved a bill to legalize Bitcoin mining and crypto payments. This move, passed in the first reading, sets the stage for a regulated digital currency mining industry. The bill aims to curb illegal activities, attract investments, and create jobs, mar...

Russia has become a major player in cryptocurrency mining due to its ample energy sources and affordable electricity prices. Nevertheless, this quick increase has not occurred without repercussions. President Putin’s recent warnings about the strain on Russia’s power networks caused by crypto mining...

Russian intermediaries have resorted to leveraging cryptocurrency as a means to procure arms parts, effectively circumventing the stringent sanctions imposed by Western nations. At the forefront of this illicit operation stands Andrey Zverev, a self-proclaimed Russian smuggler whose involvement has ...