A court case in Russia has signaled a change in the attitude authorities have towards the cryptocurrency space, at least on first glance. After prosecutors gave up their efforts to block the website – citing the upcoming Russian legislation meant to regulate Bitcoin – Bestchange.ru will be allowed to restore normal operations. This online portal …
Russian prosecutors take softer stance on crypto website Read More
Alexander Konovalov, Russia’s Minister of Justice, said on February 13, during the government hour in the Federation Council, that clear legislation on cryptocurrencies would not be formalized anytime soon. According to news agency Tass, Konovalov said both the constitution and the current financial system’s legislation “categorically prohibits the use of the cryptocurrency as a means of …
Russia’s Minister of Justice: Cryptocurrencies do not need to be legally defined yet Read More
Russia’s electrical surplus last year reached 20 GW. According to a study conducted by industrial mining solutions provider Bitcluster, that’s enough energy to power 14.8 million of the popular Antminer S9i ASIC devices. If Russia uses the excess electricity to mint digital coins, the state would receive 70 billion rubles (over $1 billion) just from …
Crypto mining could bring Russia $1 billion in taxes, report claims Read More
The number of bitcoin ATMs around the world has doubled in a year, increasing at an average rate of six per day to reach almost 4,300 devices, according to the latest data provided by Coinatmradar. The majority of these crypto teller machines are located in North America and Europe. Russia is in the top 10 …
Over 50 bitcoin ATMs operate legally in Russia, study finds Read More
A residential block of red bricks stretches unambitiously under the freezing sky of Irkutsk, Siberia. Inside, a series of small bitcoin mining machines are running on cheap electricity, as grandmother Valeriya’s family of domestic miners, a bullish bunch, stack up a potential fortune for the future. The granny, only identified as Valeriya, has never looked …
Sanctions imposed by governments as part of geopolitical struggles do not always filter through to under-regulated industries. Ambitious businesses covet every opportunity for expansion and diversification. In addition, according to a recent report, interest toward cryptocurrencies has remained relatively stable in spite of the bitcoin’s fall. These seem to be among the reasons why a …
Cryptocurrency exchanges eye Russia for expansion despite sanctions Read More
Interest towards cryptocurrencies in Russia remained relatively stable throughout 2018, despite the significant drop in their prices. Ruble-denominated trade on Localbitcoins, for example, has shown a generally positive trend since last spring. In the past year, Russians also saw a growing number of other options to purchase digital coins. Transaction volumes on P2P exchanges such …
While bitcoin price fell, Russians kept interest towards cryptocurrencies throughout 2018 Read More
