Cryptocurrencies

US sanctions Russia-based cryptocurrency exchange over ransomware

September 27, 2021

The US Treasury Department has for the first time sanctioned cryptocurrency exchange, a Russian-based Suex that is registered in the Moscow City business compound and operates physical as well as virtual exchanges. Suex is allegedly responsible for over $480 million of unlawful operations, has been used for ransomware attacks and operated transfers to and from Finiko crypto ponzi scheme and Russia’s …

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Russia’s Hermitage experiments with NFTs, “an aesthetic of possession”

September 10, 2021

Russia’s Hermitage Museum, one of the world’s largest art collection, has sold digital copies of several masterpieces in the form of non-fungible tokens (NFT). The auction, in partnership with cryptocurrency exchange Binance, took place from August 31 to September 7. A limited series of NFTs were brought out, featuring digital reproductions of Leonardo da Vinci’s Madonna Litta,  Giorgione’s Judith, Vincent van Gogh’s Lilac …

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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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Report: Eastern Europe strikingly affected by crypto scams

September 2, 2021

Earlier this week Chainalyis published the key findings of their 2021 Geography of Cryptocurrency report. According to this research, Eastern Europe is severely affected by illicit cryptocurrency-related activity. In relative terms, the region is second after Africa in terms of exposure — but its overall crypto economy is much larger than that of Africa.  The key findings of this …

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Zerion secures $8.2 million to make decentralized finance accessible to all

July 14, 2021

Last week Zerion, a Californian decentralized finance (DeFi) startup with Russian and Ukrainian founders, announced the completion of a $8.2 million round. Led by Mosaic Ventures, the deal also involved Placeholder, DCG, Lightspeed, Blockchain.com Ventures and other organizations — as well as a dozen of individual investors from the crypto community.  Zerion touts its investing app as “the simplest way to track and manage …

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Crypto cyberthreats spike this year with Russia hit the hardest, report reveals

June 28, 2021

Threats related to cryptocurrencies have increased alongside rising crypto prices over the past few months, shows a recent report by ESET. The Russian Federation is the country that has suffered the most from cyber threats related to cryptocurrencies this year, accounting for 8.9% of all attacks. G7 leaders recently called on the government in Moscow to identify …

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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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Russia’s top digital bank wants to offer crypto — but tough central bank policy stands in its way

June 19, 2021

Tinkoff, the biggest online bank in Russia, wants to offer cryptocurrency trading to its clients but says this will take time due to a tough stance from the country’s central bank. Oliver Hughes, Tinkoff’s CEO, said Thursday that “qualified investors who know what they’re doing” want to invest in crypto. “There’s no mechanism for us …

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Sber could issue blockchain-based digital currency as early as this year

April 28, 2021

Sber, the state-controlled financial and tech giant, could issue its own digital financial asset, ‘Sbercoin,’ as early as this year. The registration of an in-house blockchain platform, developed for this purpose, is pending final approvals from the regulator. Sber’s blockchain platform will be made available not only to the bank, but also to other companies …

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Russian opposition finds refuge in bitcoin

February 19, 2021

As the value of Bitcoin soared this year, bringing cryptocurrencies back into the global spotlight, Russia’s opposition leader Alexei Navalny saw his team’s crypto wallet fatten.   Public blockchain data shows that a Bitcoin address tied to Navalny received 3.5 Bitcoin ($120,000) at the end of January as supporters rushed to donate to the Kremlin critic …

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