Tag: russia
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According to EU regulations, Localbitcoins, Crypto.com, and other providers suspend services for Russians.
Well-known cryptocurrency platforms like Localbitcoins, Blockchain.com, and Crypto.com have begun to limit or terminate services for Russian accounts in compliance with the most recent EU sanctions aimed at Russia. The actions come after new European sanctions were adopted in response to Moscow’s military escalation in Ukraine. Major Crypto Platforms Conform to EU Measures, Restrict Services…
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Russian businesses are trading in cryptocurrencies despite the absence of regulations, officials admit
Due to their limited access to international finance, Russian businesses have started transacting in cryptocurrencies with their international partners. Even though these are still relatively small payments, government officials have noticed an increase in them, and this is before they have decided how to regulate them. Cross-Border Crypto Settlements on the Rise in Russia as…
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Limitations on Purchasing Dollar and Euro Cash are Relaxed by the Russian Central Bank
Some restrictions on Russian banks selling dollars and euros to the general public have been loosened by the Central Bank of Russia. Since currency restrictions have been a major factor in driving up demand for digital coins, the country’s crypto market may be impacted by the increased foreign cash supply. According to the Interfax news…
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Russia Issues Digital Token to Encourage Palladium Investments
With the introduction of a palladium token, transactions involving digital assets backed by precious metals are now possible in Russia. The rare metal is not a publicly accessible asset in the Russian Federation but is used in jewelry and has some high-tech applications. Rosbank and the Russian division of Atomyze, a platform that specializes in…
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According to Bank of Russia, more than half of this year’s financial pyramids in Russia involved cryptocurrency.
The majority of the financial pyramids discovered in 2022 employed cryptocurrencies in some capacity, according to a recent report from Russia’s central bank. Russian scammers have increased their operations in response to Western sanctions, frequently claiming to have authorization from foreign governments to provide access to cryptocurrency assets. A report aimed at preventing illegal activities…
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Russia’s Financial Watchdog Declares Crypto Payments Acceptable in International Trade
According to Yuri Chikhanchin, the agency’s head, the Russian financial watchdog Rosfinmonitoring is prepared to accept the use of cryptocurrencies in cross-border transactions. The declaration strengthens the argument for legalizing international cryptocurrency payments in Russia amid financial sanctions imposed due to its invasion of Ukraine. The Federal Financial Monitoring Service of the Russian Federation, also…
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Bank of Russia is prepared to legalize cryptocurrency mining if miners export coin production
The legalization of cryptocurrency mining would be supported by the Central Bank of Russia, provided that the earnings from the activity are converted to fiat currency outside of Russia. The regulator’s most recent stance on the subject follows a softening of its position on the potential use of cryptocurrencies for payments, even if only globally.…
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400 cases involving cryptocurrencies are being looked into by Russia’s financial watchdog, the director informs Putin
According to the agency’s head, Rosfinmonitoring is looking into hundreds of cases involving cryptocurrencies. The top regulator also informed the Russian president that hundreds of thousands of Russians participate in cryptocurrency transactions overseas. 400 cases involving cryptocurrencies are being looked into by Russia’s financial watchdog, the director informs Putin According to the agency’s head, Rosfinmonitoring…
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Russia has proposed a law that would impose fines for the unauthorized issuance and exchange of digital assets.
The Russian parliament has received a bill that would impose monetary fines on those who erroneously issue or exchange digital currency. The legislation was proposed by the author of another bill that would have prohibited using them as a form of payment. A bill that was recently submitted to the State Duma, the lower house…
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‘Washington Does Not Play Fair Anymore,’ says renowned investor Jim Rogers, who sees the end of the US dollar.
In an interview published by the Economic Times on Sunday, renowned investor Jim Rogers discussed the end of the US dollar and the future prospects for cryptocurrency. Rogers is a former business partner of George Soros, with whom he co-founded the Quantum Fund and Soros Fund Management. He was asked about the outlook for the…