Russia to Track Crypto Transactions With Help From Sberbank-Owned Company

The Federal Financial Monitoring Service of Russia is going to start tracking cryptocurrency transactions. The agency has already selected a contractor to develop the platform. The entity is affiliated with one of Russia’s largest financial institutions, Sberbank. Rosfinmonitoring to Keep Record of Cryptocurrency Wallets Used for Illicit Purposes Russia’s financial watchdog, Rosfinmonitoring, has selected a … Read more

Bank of Russia Exposes Nearly 150 Financial Pyramid Scams, Fraudsters Exploit Crypto Craze

The Central Bank of Russia (CBR) has identified 146 financial pyramid schemes in only six months this year. Fraudsters often lure people with weak financial literacy into investment scams linked to cryptocurrencies or crypto mining operations. Pyramid Schemes Thrive Amid Rising Investment Demand, Bank of Russia Says The number of financial pyramid scams uncovered by … Read more

Joe Biden Directs US Intelligence to Investigate Ransomware Attack Against Florida IT Firm

Joe Biden wants to crackdown on ransomware according to statements he made on Friday, after hackers hijacked software from a Miami-based IT supplier called Kaseya. Hundreds of American businesses were affected by the breach as the attackers encrypted the files of some 200 clients. Biden said on Friday that he’s ordered an investigation into the … Read more

Bank of Russia to Launch Digital Ruble Prototype by End of Year

The Central Bank of Russia (CBR) is preparing to release a digital prototype of the national fiat towards the end of 2021, a high-ranking official has confirmed. Transfers between private individuals will be free of charge with the digital ruble, which is going to have legal tender status on par with Russia’s traditional currency. Bank … Read more

Report: Russia Remains a ‘Key Market for Crypto,’ Commands the 3rd Largest Bitcoin Hashrate in the World

The fervor for cryptocurrency assets in Russia has grown wild over the last few years. This week Xangle Research published a comprehensive report about digital currencies and the Russian environment in 2020. The study’s findings show that Russia is one of the world’s key players when it comes to the crypto economy, but finding reliable … Read more

Direct Democracy Party to Solve Issues With Crypto Rights in Russia

A new political force is being born in Russia out of the country’s tech business circles. The idea has been conceived by representatives of the country’s growing digital economy sector who want to embark on finding solutions to numerous issues that concern the crypto space. Also read: Eastern Europe Sees More Fiat Options for Trading … Read more

Poll Shows 13% of Russians Use Cryptocurrency for Online Purchases

Cryptocurrency transactions are becoming a viable alternative to traditional electronic payments and Russia is no exception to the trend. Recently conducted surveys indicate that a large number of Russians have already started using digital coins for online purchases and many others are willing to try.    Also read: Russians to Be Allowed ICO Investments up … Read more

Despite Setbacks Crypto Wages Still an Option for Russians, Poll Finds

Crypto markets have passed through hard times this year but cryptocurrency remains a viable remuneration option for businesses in the industry and their employees in Russia, new numbers and estimates suggest. The observation is valid for many companies and contractors around the world as a number of platforms now match employers and job seekers in … Read more

The Daily: Binance Tests Fiat Exchange, Russians Mull Crypto Platforms

Binance, the leading cryptocurrency exchange, has announced it will start testing a fiat currency trading platform in Singapore and we’ve got the story in Sunday’s edition of The Daily. Also, two islands in Russia are competing to host the country’s first regulated exchange, and the ECB says Europe doesn’t need a central bank issued crypto. … Read more

Cash to Crypto Trade Blooming in Moscow, Reports Say

Buying cryptocurrency in Russia these days increasingly means parting with fiat cash, be it Russian rubles or American dollars. According to numbers quoted by local media, the 24-hour market turnover, just in Moscow, reaches a staggering $50 million dollars on peak days. Some say the cash-crypto trade resembles the wild-wild-east street forex of the 90s, … Read more