Cryptocurrencies

Blockchain considered in proposal to improve regulating Russia’s National Payment System

August 31, 2017

Russia’s Association Financial Innovation (AFI) released a “roadmap” for improving the regulation of the National Payment System (NSPK in Russian) that includes using blockchain technology, according to Plusworld, a Russian news source. Following discussion, the proposal is to be submitted to the Bank of Russia, the Ministry of Finance, the Federal Financial Monitoring Service and the …

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Putin critic and Russian presidential candidate Alexei Navalny accepts bitcoin donations

December 18, 2016

Russian anti-corruption lawyer and politician Alexei Navalny is accepting donations in bitcoin in his newly-announced bid for the 2018 presidential election, according to the candidate’s website. The campaign also accepts Yandex.money, bank cards and PayPal. On Tuesday, Leonid Volkov, head of Navalny’s electoral campaign tweeted that in the first 3.5 hours of his campaign, he received his first …

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Bitcoin legal by default in Russia, confirms new federal tax document

December 5, 2016

A document by the federal tax authority in Russia has revealed its first official stance on the legal status of cryptocurrencies and it makes for good reading for adopters of bitcoin and other digital countries in the Russian federation. The document deems trading of bitcoin and other digital currencies as foreign currency transactions according to …

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Bear in Blockchain: Russia’s frosty attitudes to cryptocurrency thawing

December 23, 2018

The Blockchain technology is attracting an increased interest from the Russian financial institutions and IT companies and may be poised to overcome skepticism from Russian regulators. This is perhaps not surprising, given Russia’s prominence in the technology sector with over 120,000 local programmers and continuing growth in e-commerce and online activities. However, certain legal obstacles may still pose challenges for …

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New Blockchain social media platform speaks with a Russian ‘Voice’

December 23, 2018

With cyber.Fund using Steemit as a template, Voice is intended to cater to the uniqueness of the Russian people, as contributions to the Steemit website are primarily in English, although there are posts in a few other languages. In an official release by Bitcoin Conference Russia, cyber.Fund stated that they looked to create a decentralized social network for authors, bloggers and …

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After South Africa, Russia’s Central Depository partners with China over blockchain

August 31, 2017

A memorandum of understanding signed yesterday sees Russia’s National Settlement Depository (NSD) and the China Securities Depository and Clearing Corporation Limited (CDSC) – both their respective countries’ central securities depositories – partner to develop blockchain applications in the post-trade space. The partnership was announced yesterday by the NSD, which has also engaged in a similar endeavor to develop blockchain solutions …

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The Russian bitcoin ban plan is on indefinite hold

October 26, 2016

Earlier this month Alexei Moiseev, the Deputy Finance Minister of the Russian Federation, stated that the spread of bitcoin in Russia does not represent a threat the country’s financial ecosystem, at its current rate of adoption. As such, the plan to ban the cryptocurrency is now paused. Moiseev had primarily spearheaded the Russian Finance Ministry’s …

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Russia’s Sberbank joins international blockchain project

August 31, 2017

Under an agreement signed last week with the Linux Foundation, Sberbank, the Russian savings giant, is joining the Hyperledger Project. Launched in December 2015, the Hyperledger Project defines itself as “a collaborative effort created to advance blockchain technology by identifying and addressing important features for a cross-industry open standard for distributed ledgers that can transform the way …

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Cryptocurrencies can destroy Russian economy, says state official

October 3, 2016

According to Paul Livadniy, the deputy director at the Federal Financial Monitoring Service of the Russian Federation (Rosfinmonitrong), cryptocurrencies such as bitcoin threatens the Russian economy and could lead to its destruction. As reported by Russian publication Lenta.ru, Livadniy compared cryptocurrencies to traditional currencies. While the latter are issued by the state — providing greater controls such as …

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Blockchain and bitcoin enthusiasts to discuss industry trends in Moscow (Nov. 10)

September 8, 2016

On Nov. 10, Moscow will host the Blockchain & Bitcoin Conference Russia, a leading industry conference to highlight the current situation and future prospects for Blockchain and bitcoin in Russia. Among the expected speakers are developers of financial and technical services, financial experts and entrepreneurs, lawyers and investors. The agenda will cover the implementation of …

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Russia reverses plan to penalize bitcoin use

October 3, 2016

Russian authorities have gone back on their idea to penalize whoever is caught in bitcoin operations in the country, says a report by Russian news agency Interfax. Though Interfax referenced unnamed sources close to the Russian government’s financial departments, it suggested that representatives from the country’s Ministry of Finance, central bank, and other government bureaus are …

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Major financial players announce blockchain exploration consortium in Russia

December 23, 2018

Earlier this month major companies from the Russian financial industry announced the creation of a consortium for joint exploration and project implementation in the field of blockchain and related technologies. Accenture, BINBANK, MDM Bank, Bank Otkritie, QIWI Group and Tinkoff Bank have expressed their intention to join the Consortium. The consortium presents itself as “Russia’s …

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