Russian Businesses to Choose Which Crypto to Use for Cross-Border Settlements, Lawmaker Says

September 14, 2022 Bitcoin.com

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Russian companies may start transacting in cryptocurrency with partners abroad as early as next year and will be free to pick the coin they want to use, officials in Moscow have indicated. The sanctioned country is preparing to legalize foreign trade settlements with digital assets and this could happen in the coming months. Russian Government […]

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Sanctions, Disagreements Hamper Regulation of Crypto Mining in Russia, Experts Say

August 25, 2022 Bitcoin.com

Bank of Russia

The changing geopolitical and economic environment, as well as persisting differences between responsible government institutions, are hindering the advance of legislation tailored to regulate cryptocurrency mining in Russia. According to a report quoting industry watchers, these factors are halting the advance of the necessary legislation. Two Draft Laws on Mining Await Approval by the Russian […]

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Colombians Make Up 20% of the Customers of New Gen Crypto-Powered Accounts According to BBVA

August 9, 2022 Bitcoin.com

Alfonso Gomez

BBVA, a private bank based in Spain, released an article that states Latam users are very interested in their crypto-powered solutions. The institution informed that close to 20% of the users of their New Gen accounts, which are available from Switzerland, are Colombians who are attracted by the crypto services offered by these accounts. Colombians […]

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230 Economists Warn the US Government’s Proposed Inflation Reduction Act Will Fuel Inflation

August 5, 2022 Bitcoin.com

230 economists

Last week, Democrats unveiled climate and health care legislation called the “Inflation Reduction Act,” and there’s a lot of debate over the name of the proposed public policy measures. After the legislation was revealed, 230 economists sent a letter to the country’s House and Senate leaders warning that the proposed policies will actually fuel inflation. […]

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Putin Signs Law Prohibiting Payments With Digital Assets in Russia

July 15, 2022 Bitcoin.com

Ban

President Vladimir Putin of Russia has signed into law a bill banning payments with digital financial assets. The legislation obliges exchange operators to refuse to process transactions facilitating the use of DFAs, a legal category currently covering cryptocurrencies, as “monetary surrogates.” President Putin Approves Legislation Banning Digital Asset Payments in Russian Federation Russian President Vladimir […]

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Kazakhstan President Signs Law Increasing Tax Burden for Crypto Miners

July 13, 2022 Bitcoin.com

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President of Kazakhstan Kassym-Jomart Tokayev has signed into law a bill amending the country’s Tax Code to impose higher tax rates on crypto miners. The levy will depend on the amount and average price of electricity utilized in the extraction of digital currencies like bitcoin. Cryptocurrency Miners in Kazakhstan to Pay Higher Taxes President Tokayev […]

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Hong Kong to Introduce Licensing for Crypto Platforms Through AML Law

July 10, 2022 Bitcoin.com

ACT

New legislation tailored to regulate the crypto space in Hong Kong aims to implement a licensing regime for crypto service providers. The respective changes to the region’s anti-money laundering (AML) rules have been submitted to its legislature while a recently published report examines relevant threats. Hong Kong Lawmakers to Review Bill Aligning Crypto Sector With […]

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Russia’s Finance Ministry Supports Circulation of Stablecoins in Country

July 9, 2022 Bitcoin.com

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The Russian Ministry of Finance is ready to back the legalization of transactions with stablecoins in Russia, according to a high-ranking representative. While the ministry recognizes that cryptocurrencies could lay the ground for a new financial system, the department is unsure if it will be better than the current one. Russia’s Minfin Open to Legalizing […]

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Proposal to Set Up Russian Crypto Exchange Circulated in Moscow

July 8, 2022 Bitcoin.com

Aksakov

Russia may establish a dedicated exchange to carry out cryptocurrency transactions locally, a high-ranking member of the State Duma has suggested. The new platform can be hosted by the Moscow Exchange, according to Anatoly Aksakov, head of the parliamentary financial market committee. Russian Authorities Mull Creating Domestic Cryptocurrency Exchange A crypto trading platform may be […]

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Russian State Duma Adopts Law Banning Payments With Digital Financial Assets

July 7, 2022 Bitcoin.com

Ban

The lower house of Russian parliament has adopted a law prohibiting the use of digital financial assets in payments. To implement the restriction, exchange operators have been obliged to reject transactions which make it possible to employ these assets as a means of payment. Russian Parliament Approves Legislation Preventing Digital Financial Asset Payments The majority […]

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