Russian President Vladimir Putin signed into law Friday the bill that regulates digital financial asset (DFA) transactions, Russian media RIA Novosti reported. It was approved by the State Duma, the lower house of the Russian parliament, on July 22 and by the Federation Council on July 24. The law will come into force on Jan. …
Putin signs law giving cryptocurrency legal status in Russia Read More
President Vladimir Putin’s plans for digital businesses to help power Russia’s economic recovery from the coronavirus pandemic by giving Russia one of the lowest tax rates in the world for IT companies might not be what they seem, analysts told The Moscow Times. In an address to the nation in June, Putin hailed the Russian IT sector’s …
Russia’s ‘IT tax maneuver’ could bring cash to the budget, not to IT companies Read More
In what could put an end to a long saga, the US Securities and Exchange Commission announced today that it “obtained court approval of settlements with Telegram and its subsidiary TON Issuer Inc.” “Without admitting or denying the allegations in the SEC’s complaint, the defendants consented to entry of a final judgment enjoining them from …
In a televised address to the nation Tuesday, Putin also announced big tax cuts for the IT sector, apparently a bid to “turn Russia into India” by using tax incentives to attract and retain tech entrepreneurs. Putin claimed that, even in the midst of a pandemic, it was clear how the Russian IT sector has …
Yesterday a court in Moscow upheld the house arrest of Baring Vostok founder Michael Calvey on fraud charges despite the revelation that he has a malignant tumor. The US businessman faces embezzlement charges that he says are being used to pressure him in a business dispute. A Moscow court had ruled last month to extend the house …
US investor Michael Calvey kept under house arrest despite cancer revelation Read More
Roskomnadzor, the Russian Internet and telecom authority, announced today that it is lifting restrictions on access to Telegram. The regulator cited “Telegram’s readiness to combat terrorism and extremism” and referred to an agreement with the federal prosecutors. Earlier this month, as reported by Meduza, Telegram’s founder Pavel Durov urged the authorities to unblock Telegram and let its …
After failing to enforce ban, Russia unblocks Telegram Read More
Hackers are preying on Russian’s personal data and the number of crimes have ballooned. The government is responding with a dramatic hike to the fines for stealing information, but some experts say the proposed measures are too harsh, especially at a time of the coronavirus (COVID-19) pandemic. The Russian government has already been accused of …
The Russian Ministry of Economic Development has sent a letter to the State Duma, the lower house of the Federal Assembly of Russia, criticizing the bill that seeks to ban cryptocurrency in the country. Local publication Kommersant reported Wednesday that it has seen the letter. Russian officials detailed that the bill proposes a complete ban on the …
Late last week the head of Russian Venture Company (RVC), Alexander Povalko, was arrested then placed by a Moscow court under house arrest for 45 days. The FSB (Federal Security Service) and police officers ransacked his home. It is the latest high-profile legal case to have rocked the Russian investment world — and market players have been …
RVC head under house arrest: Russian investment world rocked by yet another criminal case Read More
In late May Russia’s State Duma released a draft of proposed litigation toward cryptocurrencies and companies that deal with the technology. The draft called “On Digital Financial Assets,” is an updated version on how lawmakers might regulate the crypto industry in the near future. The documents do not delve much into personal holdings, trading, and cross-border remittances, …
Russia’s cryptocurrency laws remain in the gray zone Read More
A draft law to create a “uniform federal database” in Russia – with the entire country’s personal data stored in one place – was adopted on May 21 by the lower house of parliament, the State Duma. Backers of the bill say it aims at ensuring reliability and consistency of data countrywide, but Anastasia Zlobina, …
“A US court stopped TON from happening:” with this simple explanation, VK and Telegram founder Pavel Durov announced today he is giving up his widely hyped blockchain and cryptocurrency project. This is the latest, but probably not the last episode of a saga which started in early 2018 with a controversial $1.7 billion ICO. Many unforeseen developments followed, …
Pavel Durov gives up his blockchain project, shifting the blame to US authorities Read More
