Russian Traffic to Global Crypto Exchanges Surges; Central Bank Warns of Western Sanctions Risk

May 28, 2024 Bitcoin.com

bitcoin.com

The surge in Russian traffic to global cryptocurrency exchange platforms in the last two quarters has prompted officials to issue a warning about the risk of Western sanctions. According to a central bank study, Russian traffic to some of the largest crypto exchanges increased by 16.4%, reaching 104.6 million visits. Russian Share of Global Traffic […]

Russia Using Bitcoin to Bypass Sanctions – Is the Global Financial System Cracking?

Russian Crypto Exchange Unable to Process Withdrawals; Angry Users Try to Storm Offices

May 1, 2024 Bitcoin.com

bitcoin.com

Approximately 50 users of Beribit, a Russian cryptocurrency exchange, recently tried to storm the company’s Moscow offices to demand their digital assets. Beribit’s management has attributed the delay in processing withdrawal requests to an audit initiated following the discovery of discrepancies in the exchange’s balance sheet. Balance Sheet Discrepancies About 50 users of the Russian […]

Russia Using Bitcoin to Bypass Sanctions – Is the Global Financial System Cracking?

Bank of Russia: Russians Transacted $51 Billion in Crypto During 2023

April 2, 2024 Bitcoin.com

Bank of Russia

The Bank of Russia noted that Russian nationals transacted $51 billion (4.78 trillion rubles) in crypto during 2023. According to an annual report issued by the bank, its investigations found that volume flows equivalent to the number, especially in bitcoin and ether, were attributed to Russian nationals in large exchanges. Bank of Russia Reports High […]

Russia Using Bitcoin to Bypass Sanctions – Is the Global Financial System Cracking?

Russia to Clarify Cryptocurrency Mining Gray Areas, Including Payments

March 27, 2024 Bitcoin.com

Anton Siluanov

Anton Siluanov, the finance minister of Russia, is prepared to discuss the gray areas surrounding cryptocurrency mining and the use of its proceeding for payments. In a recent lecture, Siluanov stated that the government needed to agree “on what can be done with cryptocurrency,” and “what cannot be done,” recognizing that the issue had been […]

Russia Using Bitcoin to Bypass Sanctions – Is the Global Financial System Cracking?

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

March 20, 2024 Bitcoin.com

Anatoly Aksakov

A 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 […]

Russia Using Bitcoin to Bypass Sanctions – Is the Global Financial System Cracking?

Russian Digital Ruble Pilot ‘on Track,’ Registers About 25K Transactions

March 5, 2024 Bitcoin.com

bitcoin.com

Elvira Nabiullina, Governor of the Bank of Russia, stated that the current pilot test of the Russian digital ruble was “on track,” with several operations being tested, including opening wallets, and interactions with smart contracts. Nabiullina revealed that over 25,000 transactions were registered, and confirmed the pilot expansion later this year. Russian Digital Ruble Pilot […]

Crypto & Russia