Cryptocurrency Analysis and News Portal
Active digitalization of large domestic financial institutions is a noticeable, definitely positive trend. Russia is one of the five world leaders in the speed of transition to cashless payments, and the number of contactless transfers and payments are increasing every year. Such active development requires changes in legislation, and inevitably,
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Russian President Vladimir Putin has signed an order obliging public officials to report any cryptocurrency holdings.According to the document, signed on Thursday, both current civil servants and people about to assume a government position must disclose which digital assets they own, as well as in what quantity and where they
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The Russian cryptocurrency and blockchain association known as RAKIB warned the country’s central bank against making its future central bank digital currency too centralized. RAKIB sent a letter to Bank of Russia Chairwoman Elvira Nabiullina saying the potential design for the “digital ruble” favored by the regulator will return
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Alfa-Bank, one of the largest private commercial banks in Russia, is exploring blockchain technology in its services for freelancers. According to a Dec. 1 announcement, Alfa-Bank will use blockchain-based applications to automate services for freelancers and self-employed workers. Based on Waves Enterprise’s blockchain platform, Alfa-Bank’s new service covers the entire
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Gazprombank Switzerland, a subsidiary of one of the largest banks in Russia, has piloted its Bitcoin (BTC) transaction service following regulatory approval by Swiss regulators.According to a Nov. 19 announcement, Gazprombank will provide its new cryptocurrency solution in collaboration with its long-running partners like fintech firm Avaloq and crypto custody
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Russia’s vast oversight of cryptocurrency transactions appears to have one crucial blindspot: There doesn’t seem to be any liability for criminals who use digital assets to conduct illegal transactions. On Thursday, Russia’s Ministry of Finance proposed new amendments to the country’s cryptocurrency laws that seek to clarify rules around tax evasion.
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Gazprombank (Switzerland) has been authorized by FINMA to launch institutional cryptocurrency services in Switzerland. Source
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Bitcoin is not welcome in Russia. The Central Bank of Russia, this year, put in place legislation that
Read MoreAuthorities in Russia appear to be going after Binance — the world’s largest cryptocurrency exchange — as its domain is now in the list of prohibited websites in the country. On Sept. 24, Binance officially announced on its Russian Telegram channel that Russian telecom regulator Roskomnadzor has added the website
Read MoreRussia’s new cryptocurrency-related law, “On Digital Financial Assets,” or DFA, seems to have had little impact on the local cryptocurrency industry so far.In its current form, the DFA law essentially provides legal status to digital assets like Bitcoin (BTC), but prohibits their use for payments in Russia.As the DFA law
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