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Tough Crypto Law Expected in Russia Despite Central Bank’s Softer Stance on Crypto Payments

Tough Crypto Law Expected in Russia Despite Central Bank’s Softer Stance on Crypto PaymentsThe 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 […]

‘BITSANITY’ — Records broken with $70B in volume for Bitcoin stocks, ETFs

Russia’s First Digital Financial Assets Expected This Year, Lawmaker Says

Russia’s First Digital Financial Assets Expected This Year, Lawmaker SaysThe first digital financial assets based on Russian blockchains may be issued as early as this year, a high-ranking parliamentarian announced. Three platforms are already registered as issuers, said Anatoly Aksakov, who chairs the Financial Market Committee at the State Duma, the lower house of Russian parliament. Russian Digital Financial Assets Likely to Appear by […]

‘BITSANITY’ — Records broken with $70B in volume for Bitcoin stocks, ETFs

Illegal Use of Cryptocurrency Largely a Myth, Russian Lawmaker Says

Illegal Use of Cryptocurrency Largely a Myth, Russian Lawmaker SaysOnly a small share of cryptocurrency transactions have illicit purposes and the use of digital coins in illegal activities is for the most part a myth, a high-ranking Russian lawmaker has recently stated. Andrey Lugovoy, who is one of the deputies working on new crypto regulations, also said Russia can become a global leader in […]

‘BITSANITY’ — Records broken with $70B in volume for Bitcoin stocks, ETFs

Bank of Russia Rejects Idea of Using Cryptocurrency to Circumvent Sanctions

Bank of Russia Rejects Idea of Using Cryptocurrency to Circumvent SanctionsThe Central Bank of Russia has turned down a proposal to allow the use of digital currencies for the purpose of sanctions evasion. The monetary authority believes this is hardly an option as Western regulators are already taking steps to prevent such transactions. Employing Bitcoin to Evade Sanctions Not Possible, Central Bank of Russia Says […]

‘BITSANITY’ — Records broken with $70B in volume for Bitcoin stocks, ETFs

Idea to Use Digital Ruble as Reserve Currency Circulated in Sanctioned Russia

Idea to Use Digital Ruble as Reserve Currency Circulated in Sanctioned RussiaA call to make the digital ruble a reserve currency has been issued in the State Duma, the lower house of Russia’s parliament. Meanwhile, concerns have been raised in the West that the new incarnation of the Russian fiat may be employed to evade sanctions that have been isolating the country. Digital Ruble to Serve […]

‘BITSANITY’ — Records broken with $70B in volume for Bitcoin stocks, ETFs

Crypto Assets Can Help Russia Return to Global Financial Market, Lawmaker Says

Crypto Assets Can Help Russia Return to Global Financial Market, Lawmaker SaysDigital financial assets like cryptocurrencies can help Russia to reach the global financial market despite western sanctions, a lawmaker working on crypto regulations has stated. The official believes the country is capable of setting up domestic crypto exchanges and should support mining. Russia Can Establish Own Cryptocurrency Exchanges, Deputy Insists The crypto space is an […]

‘BITSANITY’ — Records broken with $70B in volume for Bitcoin stocks, ETFs

European Parliament to Cancel Vote on Crypto Assets Framework

European Parliament to Cancel Vote on Crypto Assets FrameworkThe European Parliament will not hold a planned vote on crypto regulations after texts that can be interpreted as an attempt to ban coins with energy-intensive mining sparked negative reactions. The lawmaker leading the legislative effort says the matter needs clarification before MEPs can have a say, but the head of the ECB has insisted […]

‘BITSANITY’ — Records broken with $70B in volume for Bitcoin stocks, ETFs

Russian Investors to Pass Exams Before Buying Cryptocurrencies, Draft Law Suggests

Russian Investors to Pass Exams Before Buying Cryptocurrencies, Draft Law SuggestsA new Russian law may oblige potential crypto investors to take a test before being allowed to purchase digital assets over a certain limit. The authors are also hoping to regulate cryptocurrency mining and cut access to cheap energy for those who mint coins in their homes. Bill to Bring ‘Tight Regulation’ to Crypto Industry, […]

‘BITSANITY’ — Records broken with $70B in volume for Bitcoin stocks, ETFs

Ministries Queried About Missing 200,000 Bitcoins as Bulgaria Explores Crypto Payments

Ministries Queried About Missing 200,000 Bitcoins as Bulgaria Explores Crypto PaymentsThe recently elected government of Bulgaria has found itself in the position of answering questions about the fate of billions of dollars’ worth of cryptocurrency reportedly confiscated by the country’s law enforcement five years ago. Meanwhile, the new finance minister has revealed that authorities in Sofia are now exploring options to implement a crypto payment […]

‘BITSANITY’ — Records broken with $70B in volume for Bitcoin stocks, ETFs

Russia May Allow Crypto Mining and Gold-Backed Stablecoins, Lawmaker Says

Russia May Allow Crypto Mining and Gold-Backed Stablecoins, Lawmaker SaysRussia can legalize cryptocurrency mining and stablecoins backed by gold under government control, a high-ranking member of the Russian parliament has suggested. The statement comes after Bank of Russia proposed a wide-ranging ban on the use of cryptocurrencies, and their trading and mining. Mining and Some Stablecoins Can Be Legalized in Russia, Duma Deputy Insists […]

‘BITSANITY’ — Records broken with $70B in volume for Bitcoin stocks, ETFs