Russia

Bank of Russia Ready to Legalize Crypto Mining If Miners Sell Minted Coins Abroad

by

The Central Bank of Russia would agree to the legalization of cryptocurrency mining, provided the proceeds from the activity are converted to fiat outside of Russia. The regulator’s latest position on the matter comes after it softened its stance on the…

Russian Media Censor Roskomnadzor Blocks Major Crypto News Website

by

Bits.media, a leading news outlet in Russia’s crypto space, has been blocked by Russia’s telecom and mass media watchdog, Roskomnadzor. The site is now inaccessible through most Russian internet providers, the online edition announced, stating it intends to contest the measure….

Financial Companies Report First Deal With Digital Assets Under Russian Law

by

Two companies have carried out Russia’s first transactions with digital financial assets as defined by the country’s current legislation. The deal involved the tokenization of debt issued by a third party and its subsequent acquisition. Russian Companies Conduct Issue and Placement…

Russia’s Financial Watchdog Investigates 400 Crypto-Related Cases, Director Tells Putin

by

Rosfinmonitoring is conducting hundreds of investigations into cases involving cryptocurrencies, the head of the agency announced. Hundreds of thousands of Russians take part in crypto deals abroad, the top regulator also reported to the Russian president. Russian Authorities Initiate 20 Criminal…

Uganda Claims Exploration Surveys Discovered 31 Million Metric Tons of Gold

by

While gold is often considered a scarce asset, Uganda explained on Wednesday that recently conducted exploration surveys indicate that there’s roughly 31 million metric tons of gold ore waiting to be mined in the region. Moreover, a spokesperson from Uganda’s Ministry…

Crypto-Related Lawsuits Rising in Russia, Criminal Cases Increase by 40%

by

Courts in Russia are hearing a growing number of cases around crypto assets, a new study has shown. About two-thirds of them have been launched under provisions of the country’s Criminal Code but civil cases represent a large share as well….

American Economists Are Baffled by an ‘Unusual Situation’ as Russia’s Ruble Is the World’s Best Performing Fiat Currency

by

Two months after the Russian ruble fell below a U.S. penny, the transcontinental country’s fiat currency is the best performing currency worldwide. American economists are baffled by the “unusual situation” because a country facing stiff sanctions typically sees its fiat currency…

No Tax Amnesty for Russian Crypto Miners as Lawmakers Withdraw Proposal

by

A new draft law has replaced an earlier bill introducing a one-year tax and customs amnesty for cryptocurrency miners in Russia. The initial proposal has been withdrawn on the grounds that the tax break would have resulted in losses for the…

Crypto Mining Farm Uncovered in Russia’s Oldest Prison

by

Russian law enforcement officials are investigating a crypto mining operation at Butyrka, Russia’s oldest prison. A deputy warden has been accused of stealing electricity to mint digital coins with the help of unidentified accomplices. Deputy Warden Suspected of Mining Cryptocurrency in…

Draft Law About NFTs Submitted to Russian Parliament

by

Lawmakers have filed a bill with the State Duma aimed at introducing the term NFTs to Russian legislation. The authors of the draft say the rights of those who own non-fungible tokens need to be protected as Russians are currently dealing…