Russian Chamber of Commerce Suggests Using Cryptocurrencies in Settlements With Africa

Employing crypto in cross-border payments is one of the proposals put forward by the Russian Chamber Of Commerce lobbying for more cooperation with African countries. Amid unprecedented sanctions limiting Russia’s ability to trade internationally, the head of the board has urged the government to work out an alternative system for settlements with Moscow’s partners. Chamber … Read more

EU Members Want to Task New AML Watchdog With Crypto Oversight, Report Unveils

A group of EU nations have reportedly been lobbying to entrust oversight of the crypto space to a new anti-money laundering (AML) agency. Behind the move are concerns that companies dealing with digital assets can be engaged in the processing of illicit funds. Germany Leads Push to Place Crypto Firms Under EU Anti-Money Laundering Supervision … Read more

Russian Finance Ministry to Draft 2 Crypto Laws as Central Bank Prepares Own Bills

The Russian Ministry of Finance has proposed the adoption of two pieces of legislation aimed at regulating cryptocurrencies. The drafts will be presented for public discussions expected to continue until March 18. Media reports have revealed that Bank of Russia has been working on alternative bills. Russian Ministry of Finance to Open Consultations on New … Read more

Students Mining Crypto in Dorms May Face Criminal Prosecution in Russia, Lawyer Says

University students in Russia minting digital currencies in their dormitories risk penalties and even criminal charges, according to a legal expert quoted by local media. The warning comes as Russian authorities are trying to curb crypto mining with cheap energy in residential areas. Mining May Turn Into Risky Undertaking for Russian Students As more and … Read more

Russian Government to Present Regulatory Scenarios for Cryptocurrencies Within a Week, Report

The federal government of Russia should be ready with different regulatory scenarios for the country’s crypto market by the end of next working week, documents from a recent meeting have indicated. The executive power in Moscow favors regulation over the prohibition of cryptocurrencies and related activities. Government Inclined to Legalize Rather Than Ban Cryptocurrency in … Read more

Belarus Moves to Allow Investment Funds to Acquire Crypto Assets

The crypto-friendly nation of Belarus is preparing to permit investment funds to put money into digital currencies. A proposal to do so is part of a package of necessary legal changes tailored to attract such institutions to the country. Finance Ministry Takes Steps to Facilitate Crypto Investments in Belarus Amendments aimed at luring investment funds … Read more

Russians Own $215 Billion in Crypto Suggests Estimate Attributed to Government

Russians may own more cryptocurrency than previously thought, a new estimate reportedly used by the government has indicated. The quoted figure amounts to over a tenth of the global holdings and may serve as an impetus for the government to regulate Russia’s crypto market rather than outlaw it. Estimated 12% of Crypto Allegedly Held by … Read more

Crypto Ban Proposed by Bank of Russia Met With Opposition in Parliament, Government

The central bank’s push for a restrictive policy regarding cryptocurrencies is not gaining support among members of the Russian government, legislature, or law enforcement. A blanket crypto ban, as proposed by the bank, would make a laughingstock of Russia, lawmakers have warned. Bank of Russia’s Hardline Stance on Crypto Rejected by Other Russian Institutions The … Read more

Bank of Russia Proposes Wide Ban on Cryptocurrency Use, Trade, Mining

True to its hardline stance on decentralized digital money, the Central Bank of Russia is now pushing for a wide-ranging ban on crypto-related activities such as issuance, exchange, and mining. A consultation paper published by the regulator cites threats to financial stability and citizens’ wellbeing among the main reasons for the proposed restrictions. Russia’s Central … Read more

Slovenia Launches Public Consultations on Crypto Taxation Law

Authorities in Slovenia have prepared new legislation tailored to determine how crypto holdings and transactions are taxed in the country. The proposal, aimed at clarifying the matter, has been submitted for public consultations this week, local media reports revealed. Slovenia to Amend Tax Rules for Cryptocurrencies The Finance Ministry in Ljubljana has opened public consultations … Read more