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BRICS Unified Currency Deemed Premature by Russian Official

BRICS Unified Currency Deemed Premature by Russian OfficialRussia’s Deputy Foreign Minister has stated that discussions on a single currency for the BRICS economic bloc are premature due to differences in financial regulation among member nations. Instead, the focus remains on enhancing financial sovereignty and exploring national currencies for trade. Ryabkov highlighted ongoing efforts to strengthen the bloc’s economic independence, with authorities actively […]

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Russia Pushes for Sustainable BRICS Interbank Networks and Payment Systems

Russia Pushes for Sustainable BRICS Interbank Networks and Payment SystemsRussia is pushing to develop independent interbank networks and payment systems within BRICS to boost the bloc’s financial influence. Moscow aims to expand cross-border settlements and the use of national currencies in BRICS trade, as part of a strategy to reduce dependence on Western financial institutions. These efforts have gained attention during Russia’s BRICS presidency, […]

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Russian Cybercriminal Extradited to US in Crypto Crime Case

Russian Cybercriminal Extradited to US in Crypto Crime CaseA Russian cybercriminal, Deniss Zolotarjovs, has been charged in the U.S. with crimes related to his involvement in a cybercrime organization known for extorting victims and laundering cryptocurrency. The 33-year-old Moscow resident was indicted in Cincinnati, Ohio, on charges of conspiracy to commit money laundering, wire fraud, and Hobbs Act extortion. Arrested in Georgia in […]

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Iran Backs Russia on BRICS Single Currency Initiative

Iran Backs Russia on BRICS Single Currency InitiativeIran plans to support Russia’s initiatives on creating a BRICS single currency and expanding national currency payments within the bloc, according to Iran’s Ambassador to Moscow, Kazem Jalali. The BRICS nations (Brazil, Russia, India, China, and South Africa) are exploring the creation of a new currency to reduce reliance on the U.S. dollar and mitigate […]

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Moscow City Crypto Exchanges Ready to Send Cash to London, Report

Moscow City Crypto Exchanges Ready to Send Cash to London, ReportAn investigation into digital asset exchanges in the Russian capital has established that some of them are ready to buy digital coins and deliver paper money in the U.K. The transfer of funds does not usually involve the identification of the clients, Transparency International Russia reveals in a report. Russia-based Cryptocurrency Exchanges Swap Stablecoins for […]

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Bitzlato co-founder released from brief arrest and questioning: Report

The co-founder of cryptocurrency exchange Bitzlato was briefly detained for questioning in Moscow at the request of Interpol, after which he was released.

Local Russian media outlets reported on Monday that Bitzlato co-founder Anton Shkurenko was detained in Moscow on Feb. 6 at the request of Interpol. However, according to a Feb. 10 report from CoinDesk, Shkurenko was stopped and detained by the local police for an identity check, then promptly let go after a conversation.

Shkurenko said he is not involved in any criminal cases in Russia, while not disclosing details of the investigation:

“I hope I convinced the prosecutor of my innocence.”

He did not specify the sector of law enforcement that detained him, though he mentioned he signed a contract to appear when and if requested by investigators. Shkurenko, therefore, received a no-detention warrant to skirt future arrests.

At the time of arrest, Shkurenko attests that he is a “tech consultant” for Bitzlato. However, he reportedly held the keys for the exchange’s crypto wallets, though they have since been handed over to other team members.

Bitzlato still has around 100 active employees despite the recent crackdowns from global authorities. Shkurenko told CoinDesk that a relaunch of the exchange, with a base in Russia, could happen in the near future. 

“I could launch the exchange from my apartment.“

According to the co-founder, the team has held onto the majority of its users’ funds. Shkurenko said he could “quickly” resume operations.

Related: Cleaning up crypto: How much enforcement is too much?

This comes on the heels of a series of updates involving Bitzlato’s operational status. On Jan. 18, authorities in the United States took action against the exchange with accusations of money laundering and allegedly bypassing sanctions against Russia.

According to the U.S. Department of Justice, the exchange handled nearly $700 million of illicit funds. 

As the investigation against the exchange continues, various prominent companies in the crypto space have been called out for connections with Bitzlato. One is Binance, named by the U.S. Financial Crimes Enforcement Network a major receiver of Bitcoin (BTC) from the exchange.

LocalBitcoins, another cryptocurrency platform, shut down on Feb. 9 and was also linked to Bitzlato as a big sender of BTC. 

On Jan 23. Europol reported that it seized $19.5 million in crypto in an enforcement action against Bitzlato. A little over a week later, on Feb. 2, Spanish authorities detained the exchange’s CEO.

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French Lawyer Asks Russian Patriarch to Help Save Alexander Vinnik From ‘Political Trial’ in US

French Lawyer Asks Russian Patriarch to Help Save Alexander Vinnik From ‘Political Trial’ in USA member of the defense team of the alleged BTC-e operator Alexander Vinnik has called on the head of the Russian Orthodox Church to intervene in support of his client. The Russian national may be sentenced to over 50 years in prison for his role in the infamous cryptocurrency exchange. Prisoner Swap for Americans in […]

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Putin Threatens to Let Europe ‘Freeze’ — Russian President Warns ‘We Will Not Supply Gas, Oil, Coal, Heating Oil’

Putin Threatens to Let Europe ‘Freeze’ — Russian President Warns ‘We Will Not Supply Gas, Oil, Coal, Heating Oil’Following the discussions concerning the inter-governmental political forum Group of Seven (G7) pledging to impose price caps on crude oil and the European Commission talking about fixing electricity prices, Russian president Vladimir Putin explained on Wednesday that Russia will not supply the industrialized economic powers and the West with energy. “We will not supply gas, […]

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Chainalysis Report Says $2.2 Million in Crypto Has Been Sent to Pro-Russian Groups in Ukraine

Chainalysis Report Says .2 Million in Crypto Has Been Sent to Pro-Russian Groups in UkraineAccording to a report stemming from the blockchain intelligence company Chainalysis, the firm identified 54 pro-Russian groups that have “collectively received over $2.2 million worth of cryptocurrency.” The paramilitary groups in Ukraine primarily received bitcoin and ether donations but also got tether, litecoin and dogecoin as well, the Chainalysis study details. $2.2 Million in Crypto […]

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