RUSSIA
Russian Crypto Advocates Urge Putin to Address Delayed Regulations
The Russian Association of Crypto Industry and Blockchain (RACIB) has written an open letter to President Vladimir Putin urging him to address the risks of delayed cryptocurrency regulations in Russia. The letter argues that Russia has been too slow to implement legal regimes for crypto adoption and highlights the potential complications of proposed amendments to the current crypto law.
A British National Charged With Aiding North Korea in Violating US sanctions
Despite the DoJ's crypto financial sanctions targeting Russia, local authorities helped their American colleagues.
Bank of Russia to Debut Digital Ruble in April 2023
The Bank of Russia is planning a consumer pilot for the digital ruble and a gold-backed cryptocurrency.
Russia Gives Tax Incentives to Crypto Miners
Russia offers tax benefits for crypto mining investors during tough times.
Gazprombank suggests banks be given more time to adjust to digital
Gazprom, a Russian state-owned company, suggested allowing banks extra time to deploy the "digital ruble."
Russia largest bank is moving forward with the plan
Sberbank, Russia's biggest bank, will begin open DeFi platform testing in April 2023.
Binance shuts down accounts in relation to Bitzlato investigation
The U.S. Department of Justice announced action against Binance, which blocked accounts due to the Bitzlato probe.
Binance linked to illegal cryptocurrency platform Bitzlato
Binance is related to Bitzlato, according to FinCEN. The obscure platform collected $206 million from darknet marketplaces, $224 million through frauds, and $9 million from ransomware perpetrators.
Allegations of fraud against Compass Mining after company cuts ties with Russian
Compass Mining customers are suing for $2 million for fraud. The firm terminated connections with Russian hosting provider Bit River and didn't restore clients' Bitcoin machines. It cut connections with Bit River over non-applicable US sanctions.
U.S. sanctions: Customers suing Compass Mining
Compass Mining customers are suing for $2 million for fraud. The firm terminated connections with Russian hosting provider Bit River and didn't restore clients' Bitcoin machines. It cut connections with Bit River over non-applicable US sanctions.
Iran and Russia Seek A Gold-Backed Stablecoin
Iran and Russia are planning a gold-backed cryptocurrency. In Astrakhan, Russia began accepting Iranian goods, a stablecoin would function. Instead of utilizing dollars, rubles, or rials, the initiative would allow cross-border transactions.
Gold-Backed Digital Assets Were Issued By Russia's Biggest Bank
The first gold-backed digital financial assets were issued by Russia's biggest bank, Sber (previously Sberbank) (DFAs). Gold-backed DFAs represent certified monetary rights whose price and volume rely on gold prices. In July, Sber issued three-month assets worth 1 billion roubles.
Russian law legalises crypto mining, sales under 'experimental legal system'
Cryptocurrency mining and sale of the cryptocurrency mined could be legal in Russia if a bill is passed by parliament. A Russian platform for cryptocurrency sales will be set up if the law is passed, and Russian miners will be able to use foreign platforms. Russian currency controls and regulations would not apply to the transactions, but they would have to be reported to the Russian tax service.
Binance Continues to Provide Services to Unrestricted Russians Despite EU Sanction
Binance exchange is still serving nonsanctioned Russian users according to one of its Executives
Dapper Labs Restricts Russian-based NFT Accounts, Abides by EU Sanctions
Dapper Labs said it is complying with new sanctions approved by EU member states amid Russia’s continued escalating conflicts in Ukraine.