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Russia


Two of Russia’s largest banks are piloting cryptocurrency portfolios for their private clients, the Kommersant newspaper reported Friday. Under the watch of the Bank of Russia, Sberbank and Alfa Bank will offer their clients shares in a special fund that will be trading the six most popular cryptocurrencies on major exchanges, including Kraken and Bitstamp, …

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The Russian Association of Corporate Treasurers is joining the nation’s central bank in trialing the government-run Masterchain blockchain platform, the group announced last week. The association is testing Masterchain to facilitate communications within the national banking system, according to the Masterchain white paper. This would mark the latest move to use the platform to replace …

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A county government website for Khabarovsk, Russia was recently hacked in order to mine cryptocurrency using the processing power of those visiting. County administration IT officer Vyacheslav Kovalenko reported that since the end of May, users who opened any page of the website were redirected to a malicious website that secretly launched mining software on …

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The Russian government has taken a cautious approach to cryptocurrencies, president Vladimir Putin said during an annual “hotline” on Thursday. Asked if Russia will have its own cryptocurrency one day, Putin said he doesn’t see such an outcome as possible because cryptocurrencies “by definition are beyond the national borders.” While expressing that caution, he nonetheless admitted …

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A city court in St. Petersburg, Russia, has overturned a decision made by a district court in 2016 that effectively blocked cryptocurrency media site bitcoininfo.ru for the country’s inhabitants. The decision came about after the court received an order from Russia’s Supreme Court in April to review the case, as previously reported by CoinDesk. “The …

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The Supreme Court of Russia has directed a court in the city of St. Petersburg to consider an appeal against a blocked cryptocurrency information website. According to Russian legal information site RAPSI, the Vyborgsky District Court of St. Petersburg blocked Bitcoininfo.ru in 2016, claiming that cryptocurrencies are “a means of virtual payment and accumulation,” and …

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Telegram founder Pavel Durov said Tuesday that he has been paying network administrators in bitcoin to bypass a government ban on his popular messaging platform. The messaging app’s creator announced Tuesday in his Telegram channel that he had created bitcoin grants for administrators running virtual private networks (VPNs) and other proxy services to allow users access …

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Russian police arrested two people for running an illegal cryptocurrency mining operation on Thursday. Ministry of Internal Affairs spokeswoman Irina Volk said police detained two individuals in connection with a cryptocurrency mining farm discovered in an abandoned rubber factory. More than 6,000 pieces of mining equipment were found at the site in the city of …

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The Central Bank of Russia is considering using its Masterchain blockchain software to transmit SWIFT financial messaging across the Eurasian Economic Union (EAEU), an official said on Tuesday. Russia’s FinTech Association, formed under the oversight of the central bank, successfully carried out a trial of the ethereum-based software in 2016 and completed a working version …

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Russia’s third-largest state-owned bank wants to let its wealthy clients trade cryptocurrencies, an official said. Gazprombank deputy chairman Alexander Sobol said the bank may launch a pilot program this year, though it is early in the planning stages. As such, there are no firm details yet on whether Gazprombank itself will invest in cryptocurrencies or …

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Venezuela owes Russia some $3.15 billion over the next 10 years, but the South American nation will not be paying its debt using its petro cryptocurrency. Reuters reported Tuesday that Konstantin Vyshkovsky, who heads Russia’s Finance Ministry state debt department, told reporters that Venezuela had not offered to pay some of the amount it owes …

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The Russian government is pushing back against reports that it helped Venezuela launch its controversial “petro” cryptocurrency. In public remarks Friday, the deputy director of the Information and Press Department of the Russian Foreign Ministry, Artyom Kozhin, called Time Magazine’s report linking Russian officials and businessmen to the petro “fake news,” Tass reports. Adding that …

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Late last year, when interest in Bitcoin and its price was at its peak, France’s finance minister suggested that there be a public debate of Bitcoin at the G20 summit which concluded this week. The conclusion of this meeting, in regards to where the nations now stand on cryptocurrencies, is that a firm July deadline …

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A group of Russian deputies headed by Anatoly Aksakov, Chairman of the State Duma Committee on Financial Markets, submitted a draft of federal law on cryptocurrencies and Initial Coin Offerings (ICO) regulations to the State Duma, as reported in an official press release March 20. According to the press release, the documents “On Digital Financial …

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Russian government officials and businessmen helped the Venezuelan government launch the world’s first state-backed cryptocurrency, Time Magazine reported Tuesday. Citing anonymous officials familiar with the matter, the report states that billionaires Dennis Druzhkov and Fyodor Bogorodsky advised Venezuelan president Nicolas Maduro in his efforts to build the petro. Further, Time reported that “senior advisers to …

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The Russia Federation is inching closer to deciding on a law covering initial coin offerings (ICO) and the trading of crypto tokens within the country. According to a report by Russian news agency RIA on Monday, Russian deputy finance minister Alexei Moiseev said that a jurisdictional disagreement between the Bank of Russia and the Finance Ministry over …

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Earth Hour, a grassroots movement within the World Wildlife Fund to turn off all electricity for a single hour once a year as a way to draw attention to energy consumption, will be celebrated by Russian miners this year as well with the creation of “Crypto Hour,” local news outlet Rambler reported March 15. In …

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An IT manager from the state of Florida’s Department of Citrus (FDoC) has been arrested this week for using the FDoC’s computer system to mine for cryptocurrencies, according to a Tampa Bay Times article published March 13. According to the Florida Department of Law Enforcement (FDLE), FDoC employee Matthew McDermott was using computers in the …

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Persons on international sanctions lists, their relatives, and those from sanctioned territories are among those barred from Telegram’s closed token sale rounds, local Russian business journal RBC reports today, March 15. According to RBC, which claims to have a copy of the contract allegedly issued by Telegram to participants of its private presale, any person …

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Moscow is extending its use of a blockchain-based voting platform to the city block level. Announced today, the municipal government of Russia’s national capital has launched Digital Home, a service allows neighbors in high rises to electronically vote and communicate on issues like whether to replace the building entrance door or hire a new management …

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