Russia Introduces Bill to Apply Money Laundering Controls to Digital Ruble Transactions

Russia Introduces Bill to Apply Money Laundering Controls to Digital Ruble TransactionsA group of lawmakers in Russia introduced a bill that would extend money laundering controls to digital ruble transactions. The proposal, spearheaded by the Chairman of the State Duma Committee on the Financial Market Anatoly Aksakov, establishes different responsibilities for platform participants and the Central Bank of Russia, which is appointed as the main AML […]

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Russian Official Expects Agreement on BRICS Currency This Year

Russian Official Expects Agreement on BRICS Currency This YearThe chairman of the State Duma Committee on the Financial Market says that an agreement on the BRICS currency can be reached in 2023 as BRICS nations ramp up their de-dollarization efforts to shift away from U.S. dollar reliance. “By linking its economy and currency to politics, the U.S. is practically undermining the foundations of […]

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Russia Mulls Gold-backed Stablecoin, Lawmaker Confirms After Iran Visit

Russia Mulls Gold-backed Stablecoin, Lawmaker Confirms After Iran VisitRussia may issue a stablecoin backed by gold to use in international settlements, a high-ranking member of the Russian parliament has admitted. The matter has been discussed during a recent visit to Iran where officials have also signaled interest in such an initiative. Iran and Russia Talk Stablecoin Payments for Bilateral Trade Settlements The Russian […]

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Bill Imposing Fines for Illegal Issuance and Exchange of Digital Assets Proposed in Russia

Bill Imposing Fines for Illegal Issuance and Exchange of Digital Assets Proposed in RussiaA bill introducing financial penalties for those who illegally issue or exchange digital financial assets has been filed in the Russian parliament. The legislation has been submitted by the sponsor of another draft law banning their use as a means of payment. New Bill Targets Russian Platforms Issuing and Trading Digital Currencies Outside Law Persons […]

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Russia’s First Digital Financial Assets Expected This Year, Lawmaker Says

Russia’s First Digital Financial Assets Expected This Year, Lawmaker SaysThe first digital financial assets based on Russian blockchains may be issued as early as this year, a high-ranking parliamentarian announced. Three platforms are already registered as issuers, said Anatoly Aksakov, who chairs the Financial Market Committee at the State Duma, the lower house of Russian parliament. Russian Digital Financial Assets Likely to Appear by […]

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Financial Market Committee Chair Aksakov Joins Calls for Identification of Russian Crypto Owners

Financial Market Committee Chair Aksakov Joins Calls for Identification of Russian Crypto OwnersAnatoly Aksakov, head of the Financial Market Committee at the Russian parliament, has reiterated a warning for cryptocurrency investors and insisted that Russians owning coins should declare their digital assets. The parliamentarian also urged for the comprehensive regulation of crypto mining and taxation. Aksakov Warns Russian Crypto Investors They Can Lose Everything Russians have put […]

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Russians Have Invested Over $67 Billion in Cryptocurrency, Lawmaker Reveals

Russians Have Invested Over $67 Billion in Cryptocurrency, Lawmaker RevealsInterest in cryptocurrencies has been growing in Russia, not least among non-qualified investors. According to recently quoted estimates, Russians have already put more than $67 billion into the crypto market, the capitalization of which has increased significantly this year. Russians Spent Some 5 Trillion Rubles on Crypto Russian residents have swapped 5 trillion of their […]

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Russia to Decide Between Full Ban and Legalization of Crypto Investments, Trade

Russia to Decide Between Full Ban and Legalization of Crypto Investments, TradeAuthorities in Russia are discussing two very different approaches to the regulation of cryptocurrencies and related activities. While the Bank of Russia is reportedly seeking to introduce a ban on buying crypto assets, lawmakers are moving forward with efforts to adopt rules for mining, exchange, and taxation that would effectively legalize cryptocurrencies. Russian Officials Debate […]

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Illegal Crypto Miners Threatened With Jail Time in Russia

Illegal Crypto Miners Threatened With Jail Time in RussiaCryptocurrency miners that are illegally connecting their equipment to the power grid should go to prison, says a Russian lawmaker who recently announced that his nationalist party is working on draft legislation to regulate the crypto activity. The industry cannot rely on support from the state, another high-ranking parliamentarian has added. Unauthorized Use of Power […]

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Russian Parliament Sets Up Working Group on Cryptocurrency Regulations

Russian Parliament Sets Up Working Group on Cryptocurrency RegulationsA working group on cryptocurrencies and related activities will soon begin to meet at the State Duma, the lower house of Russian parliament. Its members are expected to take on the task of clarifying various regulatory aspects related to digital financial assets such as the legalization of mining and the introduction of taxation. Working Group […]

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