Posts in category

Russia


With Blockchain came Bitcoin, which spawned Ethereum, this led to a few other major coins either forking off or being born a new in the crypto space. As this ecosystem has grown, however, there has been a boom in more cryptocurrencies being created; the ICO boom. As more and more companies participate in ICO’s as …

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One of Russia’s government ministries has proposed a law that, if approved, would introduce a capital requirement for initial coin offering (ICO) organizers. The proposal, which was released by Russia’s Ministry of Communications and Mass Media last week, seeks to enforce a series of requirements before any ICO activity can be officially accredited within the …

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Russia’s Ministry of Communications and Mass Media (Minkomsvyaz) has published a document establishing the licensing rules for ICO projects, Forklog news outlet reported Monday, Feb. 12. Some of the key requirements presented to digital token issuers require nominal capital of about 100 mln rubles – approximately equal to $1.7 mln – and a license for …

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Reports suggested that several scientists working at a Russian nuclear weapons research facility have been arrested for mining cryptocurrencies at the site. Reports from Interfax and the BBC indicate that the unnamed scientists have been handed over to the Federal Security Service (FSB) following the discovery. “There has been an unsanctioned attempt to use computer …

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Several engineers at the Russian Federal Nuclear Center have been arrested for attempting to use one of Russia’s largest supercomputers for Bitcoin (BTC) mining, Interfax reports Friday, Feb. 9. The Federal Nuclear Center employs around 20,000 people and is located in the Sarov, a secret, previously unmarked city where the first nuclear bomb was produced …

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Police have apprehended a Russian citizen believed to be the number two in an international cybercrime organization, the Bangkok Post reported. Sergey Sergeyevich Medvedev was arrested in Bangkok last Friday, Feb. 2, by the Thai Crime Suppression Division (CSD) on a request from the US Federal Bureau of Investigation. A laptop and documents were taken …

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Brian Fleming is a member of the law firm of Miller & Chevalier in Washington, D.C. With governments around the globe cracking down on all aspects of the cryptocurrency market, it seems like new regulatory risks arise every day. Add U.S. sanctions to that list. On Jan. 19, the U.S. Department of the Treasury’s Office …

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This idea that simply plugging your computer or nowadays, specialized mining rigs into the Internet and making money out of thin air is extremely attractive. However, it is obviously not as simple as it sounds, and the mining sector is one that has become very competitive and sophisticated. Despite this individuals who are interested in …

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Russian Prime Minister Dmitry Medvedev thinks that cryptocurrency regulation shouldn’t take place in just one country, but should be a unified action across all countries in the Eurasian Economic Union (EAEU), local business journal Vedomosti reported today, Feb. 2. At a conference entitled “Digital Agenda in the Age of Globalization”, held today in Almaty, Kazakhstan, …

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Calls for cryptocurrency regulation were a resounding theme at the World Economic Forum in Davos last week.The world’s most prominent financial institutions remain wary of going all in on cryptocurrencies, amid fears of future regulation leading the market to tank. Governments around the world have signaled their ongoing or imminent intent to legislate and regulate …

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Sberbank, the largest state bank of Russia, is planning to launch a cryptocurrency exchange in its Swiss branch, Sberbank Switzerland AG, local media group RBC reported on Tuesday Jan. 30. The bank’s Head of Global Markets Andrey Shemetov told RBC that the Russian bank chose Switzerland for the exchange location because Russian authorities do not …

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Russia’s Finance Ministry has introduced a draft federal law on the regulation of digital assets and initial coin offerings. The new proposal, published by the ministry on Jan. 25, outlines both requirements for projects that launch ICOs, as well as for investors who wish to participate in the token sales. Since it has been introduced …

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The Ministry of Finance of the Russian Federation (Minfin) has presented the Digital Assets Regulation Bill which defines and establishes a regulatory system for cryptocurrencies, ICOs, mining and trading, local media outlet TASS news agency reported today Jan. 25. Notably, the central bank of Russia disagrees with Ministry of Finance that cryptocurrency exchange should be …

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More than 56 percent of Russians have already heard of Bitcoin, according to a survey conducted by “All-Russian Center for the Study of Public Opinion, or VCIOM,”  translated by Bitcoin.com The popularity of Bitcoin and cryptocurrency as an emerging asset class amongst the youths in Russia has increased exponentially over the past few months. The …

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In a recent interview with the Russian news outlet Gazeta, the chairman of the State Duma Committee on Financial Markets, Anatoly Aksakov stated that the current draft of Russian cryptocurrency bill requires government officials to declare their cryptocurrency investments. The draft is currently under review by the Russian Ministry of Finance and the Central Bank …

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The Russian Association of Cryptocurrency and Blockchain (RACIB) has announced that the government’s long-discussed idea for a state-issued cryptocurrency, referred to as the CryptoRuble, will be launched in the middle of 2019. The Russian government has been going back and forth on launching the CryptoRuble (known earlier as the Bitruble) since 2015. As recently as …

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Russian president Vladimir Putin believes that legislation laying out rules for the country’s cryptocurrency sector will be needed in the future. According to a report from Russian-language news agency TASS, Putin said on Jan. 11 that legislation “will be definitely required in [the] future]” on this front. “This is the prerogative of the central bank …

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Joachim Wuermeling, a member of the board of Germany’s Bundesbank, has suggested that any attempt to regulate cryptocurrencies would require international cooperation. Speaking at an event in Frankfurt on Jan. 15, the director told listeners: “Effective regulation of virtual currencies would therefore only be achievable through the greatest possible international cooperation, because the regulatory power …

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A joint report by Center on Sanctions & Illicit Finance and Elliptic, a cryptocurrency forensics firm, has indicated that Bitcoin laundering for illicit drug activity is a highly centralized process. The report’s authors, Yaya Fanusi and Tom Robinson, indicate that much of illicit Bitcoin is laundered through mixers, saying: “Mixers have consistently processed about a …

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A Russian cryptocurrency investor and blogger known online as Pavel Nyashin was attacked and robbed in his home in Leningrad Oblast the night of Jan. 14. The assailants stole funds worth 24 mln rubles ($425,000), according to local media. Nyashin was tied and beaten while a group of masked assailants stole a safe containing cash …

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