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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. Criminal Cases Involving Cryptocurrency in Russia Near 1,000 in 2021 Lawsuits related to cryptocurrency, … Read more
Rostec, the Russian manufacturing and technology conglomerate, has developed a system allowing the processing of international settlements and storage of digital currency. The blockchain-based platform has been announced as an alternative to SWIFT, which is unavailable for some Russian banks. Rostec Employs Distributed Ledger Technology to Substitute SWIFT Russian state-owned corporation Rostec has built a … Read more
The websites of several ministries of Belarus have allegedly been taken down in a new attack, part of the cyberwar Anonymous is waging to help Ukraine. The hacking group declared it’s targeting the Belarusian government for its complicity in the Russian invasion of the neighboring country. Several Government Sites in Belarus Taken Offline by Anonymous … Read more
The bill “On Digital Currency,” meant to comprehensively regulate crypto transactions in Russia, will be a “tough” law, according to the head of the State Duma Financial Market Committee. The legislation is yet to be finalized and will not be reviewed by lawmakers in the near future, Anatoly Aksakov revealed in an interview, despite Bank … Read more
A Moscow court has ordered the seizure of the crypto wallet of one of the alleged administrators of darknet market Hydra. Media reports reveal, however, that the man — who was arrested in Russia in mid-April — is refusing to share access to his presumed crypto stash with Russian law enforcement. Investigators Fail to Obtain … Read more
Dmitry Vasiliev, co-owner and former chief executive of the now defunct Russian crypto exchange Wex, has been arrested upon entering Croatia, local media reported. The crypto entrepreneur is wanted by Kazakhstan where he is accused of stealing money from an investor. Wex Executive Vasiliev Apprehended at the Airport in Zagreb Belarus-born Dmitry Vasiliev, former CEO … Read more
A proposal to permit companies to use cryptocurrency in cross-border settlements has made its way to a draft law designed to regulate Russia’s crypto space this year. According to a press report, the finance ministry has introduced a number of revisions to the legislation it has been working on in the past few months. Changes … Read more
The Central Bank of Russia (CBR) has accelerated the development of its digital ruble in response to Western sanctions. The monetary authority now intends to pilot transactions with the new version of the national fiat in early 2023 instead of 2024, as originally planned. CBR to Launch Transactions, Smart Contracts With Digital Ruble as Early … Read more
The share of crypto miners in Russia’s power consumption structure already exceeds 2%, according to a new government estimate. On this backdrop, the country’s industry ministry believes it’s time to bring the sector out of the shadows and regulate it. Crypto Miners Burn More Electricity Than Russian Farmers Miners extracting digital currencies account for more … Read more
Authorities in Russia are mulling over the possible use of digital currencies for international payments, a high-ranking official from the finance ministry has indicated. If recognized as property, he noted, cryptocurrency can be utilized in barter deals with foreign partners. Finance Ministry Suggests Russia May Employ Crypto in International Trade The possibility of using cryptocurrencies … Read more
