Cryptocurrencies

Russia to promote environmental projects with “green cryptocurrency”

September 14, 2017

The All-Russia People’s Front (ONF), led by President Vladimir Putin, has submitted a proposal to the Russian government to create a “green cryptocurrency” to promote green energy and the development of environmental projects. The coordinator of the ONF project called “General cleaning”, Dmitry Mironov, stated that it is time to create a federal law on …

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Russia plans to regulate cryptocurrencies like securities, says minister amid contradictory signals

September 14, 2017

In contrast with China, which has just banned ICOs, the Russian government plans to regulate cryptocurrencies like securities, Finance Minister Anton Siluanov told reporters on Friday last week. These statement marks a full reversal from his ministry’s proposal last year to punish people who use digital currencies with up to seven years in jail, notes Bloomberg. Contradictory …

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Russia opens first criminal case involving bitcoin

September 4, 2017

Last week, Russian police arrested three businessmen for illegally trading in 500 million rubles worth of bitcoin, or around $9 million worth of the crypto-currency. The arrest marks the start of the first-ever criminal case against bitcoin sales in Russia, Vedomosti business daily reported on Sept. 1. The Russian government has a balancing act to do: they want to …

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Russian authorities consider keeping Bitcoin away from the public

September 1, 2017

In a turn of events, Russia’s deputy minister of finance Alexey Moiseev has claimed bitcoin is akin to a high-risk “financial pyramid,” hence requiring tight regulation. The Ministry of Finance is in discussion with Russia’s central bank and the Moscow Stock Exchange about such regulation, said Moiseev in a TV interview with Russian channel Rossiya 24. The authorities …

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Russia’s first deputy PM supports a state cryptocurrency

August 31, 2017

In an interview with Russian publication RBC, Igor Shuvalov, Russia’s First Deputy Prime Minister spoke of his support for cryptocurrencies. The senior official specifically called for the creation of a “crypto-ruble,” a state-backed cryptocurrency that would, according to him, make the Russian economy stronger. The Russian official’s comments come with months of the notable revelation that …

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Russian team prepares $100 million ICO to challenge China in bitcoin mining

November 24, 2017

As Russia is being hit by the ICO (initial coin offering) fever, a company co-owned by Dmitry Marinichev, the presidential Internet commissioner, plans to raise as much as $100 million in cryptocurrencies. Russian Miner Coin (RMC) aims to help Russian entrepreneurs challenge China in Bitcoin mining, reports Bloomberg. The tokens issued will have rights to 18% of the revenue …

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Russian banks look to a Blockchain future

December 24, 2018

Two months after President Vladimir Putin met the founder of ethereum — the world’s biggest cryptocurrency after bitcoin — a consortium of the country’s biggest banks has developed a distributed ledger dubbed Masterchain. This ledger uses a modified ethereum protocol while complying with national security standards, according to the country’s central bank-backed FinTech Association. The lenders, including Sberbank PJSC and VTB Group, are hoping that by adopting …

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New crypto platform helps you launch your own tokenized investment fund

August 31, 2017

Blackmoon Financial Group, a US financial technology and investment management company with Russian roots, today announced the launch of a Blockchain-based platform for tokenized vehicles. The Blackmoon Crypto platform presents itself as “a one-stop solution for asset managers to create and manage legally compliant tokenized funds.” From technology and infrastructure to legal framework and corporate …

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US indicts Russian suspected of $4 billion bitcoin laundering scheme

September 27, 2017

A U.S. jury indicted a Russian man on Wednesday as the operator of a digital currency exchange he allegedly used to launder more than $4 billion for people involved in crimes ranging from computer hacking to drug trafficking. Alexander Vinnik was arrested in a small beachside village in northern Greece on Tuesday, according to local …

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Aeroflot considers using cryptocurrencies and Blockchain in its payment operations

December 23, 2018

Cryptocurrency-based projects are springing up in Russia, as President Putin sees in these technologies a potential instrument for the country’s modernization and the central bank has officially recognized bitcoin a “digital currency.” One of the latest initiatives from the private sector came earlier this month from Aeroflot. The giant Russian airline company is investing 24.6 million …

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Fintech: A Russian revolution is coming

July 23, 2017

Russia is the world’s third largest financial technology market and bankers at the annual sector conference in St Petersburg this year said they are continuing to roll out new cutting edge services as the need for digitization is becoming urgent. Russian President Vladimir Putin made digitization a centerpiece of this year’s St Petersburg International Economic Forum (Spief), …

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Russia’s new Blockchain passion displayed at St. Petersburg conference and Moscow hackathon

December 23, 2018

Illustrating the country’s new passion for the Blockchain technologies, two notable events took place last month in Russia. The first one, the Blockchain & Bitcoin Conference, was held on June 22 in Saint Petersburg, attracting over 600 visitors and 25 exhibitors. As reported by Bitcoin Magazine, “a mixed crowd of denim jeans and custom-tailored suits, typical for …

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