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A court in Tatarstan has extended the detention of Kirill Doronin, founder of Russia’s largest Ponzi scheme in recent times, Finiko. Doronin will spend at least two more months in custody as authorities fear he could hide from law enforcement. Ilgiz Shakirov, vice-president of the crypto pyramid, remains under detention as well. Finiko Mastermind Doronin … Read more
The Central Bank of Russia has recently expanded its database of financial market players suspected of illicit activities. Several crypto companies have been added to the list along with entities bearing signs of Ponzi schemes, as well as illegal credit organizations and forex dealers. Central Bank of Russia Blacklists Crypto Platforms As part of its … Read more
Cryptocurrency addresses allegedly used by Russian exchange Suex, recently placed under U.S. sanctions, have received more than $934 million in crypto assets, blockchain analysis suggests. According to the Treasury Department, over 40% of the platform’s transactions involved criminal actors. A Suex co-founder has denied any illegal activity. Sanctioned Crypto Broker Suex Processed $370 Million of … Read more
The U.S. Treasury Department has blacklisted Suex, a cryptocurrency broker based in Russia, for its money laundering activities. The platform is suspected of processing hundreds of millions of dollars in crypto transactions related to scams, ransomware attacks, darknet markets, and the infamous BTC-e exchange. OFAC Adds Russian Crypto OTC Exchange Suex to Blacklist The Office … Read more
Tatarstan’s highest court has rejected appeals against arrest warrants issued for three co-founders of the notorious Finiko crypto pyramid. The top representatives of the Ponzi scheme, accused of large-scale fraud in Russia, are still hiding abroad, media reports reveal. Three Finiko Ponzi Scheme Members Still Wanted The Supreme Court of Tatarstan, a republic of the … Read more
Dmitry Vasiliev, former chief executive of Russian cryptocurrency exchange Wex, has been detained in Warsaw, the Polish press reported. Vasiliev is wanted in Kazakhstan where he is accused of fraud related to the now defunct trading platform, successor of the infamous BTC-e exchange. Former Wex Executive in Polish Custody as Prosecutor’s Office Reviews Extradition Request … Read more
Central Bank of Russia is now working with commercial banks in order to delay payments made to digital asset exchanges. The move aims to limit “emotional” cryptocurrency purchases made by “unqualified” Russian investors, a CBR official revealed. The move is likely to affect peer-to-peer and over-the-counter trading platforms. Central Bank of Russia Skeptical of Cryptocurrency … Read more
The launch of a digital ruble will be among Russia’s key priorities of digitalization this decade, the country’s financial market development strategy has confirmed. The document claims the issuance of a digital national fiat will help the central bank to prevent Russians from using “money surrogates” as officials have previously called cryptocurrencies. Bank of Russia … Read more
The central bank of Russia has advised commercial banks on how to identify and block cards and wallet accounts used by shady businesses. Along with illegal forex dealers and financial pyramids, the regulator has also listed crypto exchangers as suspicious entities. New AML Recommendations by Bank of Russia Target Cryptocurrency Exchangers Russia’s central bank has … Read more
Cryptocurrency mining should be registered as entrepreneurial activity and taxed as such, according to Anatoly Aksakov, chairman of Russia’s parliamentary Financial Market Committee. The lawmaker also thinks Russian digital currency regulations need refinement. Amendments Likely to Affect Mining, Taxation, Definition of Digital Currency Discussing upcoming changes in the legislation regarding digital currencies in Russia, head … Read more
