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Russia does “absolutely nothing” to regulate cryptocurrencies, says industry advocate

October 26, 2021

Despite Russia adopting its first cryptocurrency law in January 2021, the country’s cryptocurrency market is still largely unregulated and is associated with a lot of uncertainty, according to a local industry advocate. Yury Pripachkin, head of the Russian Association of Cryptoindustry and Blockchain (RACIB), argued that the existing Russian crypto regulations are nothing more than “half-measures” that …

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Survey: 77% of Russian investors prefer Bitcoin to gold and forex

September 6, 2021

In late August Russia’s Association of Forex Dealers (AFD), a local self-regulatory organization focused on the foreign exchange market, released a survey about the local investor sentiment regarding cryptocurrencies. The survey was conducted from Aug. 4 to Aug. 24, 2021 among 502 respondents. Nearly 77% of them said that cryptocurrencies such as Bitcoin, Ether and …

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Sber plans to register digital asset issuance platform in September

September 6, 2021

Sber, Russia’s state-controlled financial and digital giant, continues progressing with the development of its blockchain-based platform for issuing digital assets. Anatoly Popov, deputy chairman of the executive board at Sber, said his organization is planning to have registered its digital asset issuance platform with the Bank of Russia — the country’s central bank — by …

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Russian oligarch Deripaska blasts Bank of Russia for ignoring Bitcoin

June 19, 2021

Russian industrial tycoon Oleg Deripaska is the latest figure to criticize the Bank of Russia’s stance on cryptocurrency regulation in the country. Deripaska took to his official Telegram channel on Thursday to blast the Russian central bank for pressuring the crypto industry to avoid getting involved into cryptocurrencies like Bitcoin. The Russian oligarch pointed out …

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Sber and VTB CEOs blast Bitcoin

June 9, 2021

Sber and VTB, two leading, state-controlled financial institutions in Russia, are not willing to move into the cryptocurrency market in the near future as their CEOs believe that crypto is either too risky or fake money. Sber CEO Herman Gref said that cryptocurrencies like bitcoin are probably the riskiest type of investment alongside the equity …

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US stock market authority halts TON launch over $1.7 billion ICO

October 14, 2019

Late Friday, the United States Securities and Exchange Commission (SEC) announced that it is suing two offshore entities, Telegram and its wholly owned subsidiary, TON Issuer, for holding an unregistered token sale. According to the complaint filed in the federal district court in Manhattan on the same day, Telegram sold approximately 2.9 billion crypto tokens, called Grams (GRM) to 171 buyers for a …

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Prime minister Medvedev: As cryptocurrencies lose popularity, regulation “not that relevant already”

May 18, 2019

Crypto regulation is not a priority for the authorities since cryptocurrencies have lost their popularity, the Russian prime minister has recently argued. Prime minister Dmitry Medvedev’s comments were reported by Russian news agency Fontanka on May 16. “The popularity of cryptocurrencies has decreased so far, which likely makes the regulation issue not that relevant already,” said the prime minister at an annual …

Prime minister Medvedev: As cryptocurrencies lose popularity, regulation “not that relevant already” Read More

Russian region conducts blockchain election with 40,000 participants

December 23, 2018

On Dec. 12 the Saratov region in Southern Russia conducted a reportedly successful blockchain election with 40,000 participants, according to a press release. Participants voted to elect members of the local Youth Parliament via the blockchain-driven electronic polling system Polys, developed by Kaspersky Lab in 2017. According to the press release, the decentralized network was …

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PwC partners with BitFury to create blockchain accelerator in Russia

December 14, 2018

Big four consulting firm PricewaterhouseCoopers (PwC) has partnered with mining and blockchain software company Bitfury Group to create a blockchain accelerator for businesses in Russia, according to a PwC press release today, Dec. 13. The release explains that PwC has already used Exonum — Bitfury’s open source framework for building blockchain applications — for educational …

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Huobi opens Russian office in partnership with state bank

December 14, 2018

Last week Singapore-based cryptocurrency exchange Huobi officially launched its first branch in Russia. The new exchange, dubbed Huobi Russia, is established in partnership with the state-owned Vnesheconombank (VEB) Digital Transformation Center and supported by Huobi’s regional exchange partnership program, Huobi Cloud. The Center of Digital Transformation was created by VEB to promote blockchain. Back in September …

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Russian intellectual property court trials blockchain to store copyright data

December 6, 2018

A Russian court dedicated to intellectual property cases has successfully tested a blockchain network for storing copyright data. The technology was reportedly used for the first time in the judicial area in Russia, major Russian news agency TASS wrote Monday, Dec. 3. According to TASS, the court recorded a change in a group of right holders, using a blockchain solution provided …

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Sberbank and Interros Group conclude blockchain-based forex repo deal

December 6, 2018

Sberbank, Russia’s largest banking institution, and Interros Group, a Moscow-based private equity firm, have carried out an over-the-counter OTC foreign exchange repurchase agreement (repo) transaction employing smart contracts on a blockchain, Reuters Russia reported last week. Head of global markets department and vice president at Sberbank, Andrei Shemetov, informed Reuters that the transaction is real, legally binding, and has been “concluded in electronic format using a …

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