Contents tagged with cryptocurrency

  • Venezuela to pay for Russian imports in local cryptocurrency

    Venezuela, which is suffering from depleted dollar reserves, hyperinflation and economic crisis, intends to pay for goods and services from Russia with its own cryptocurrency, the “petro”, Venezuelan Foreign Trade Minister José Vielma Mora announced. According to him, this arrangement was discussed during the session of the bilateral intergovernmental commission in Caracas.

    The first recipient of the Petro instead of dollars in Russia may be Russia’s truck manufacturer Kamaz, with whom …

  • Russia considering creation of territories for cryptocurrency trading

    The Russian Ministry of Finance is considering the possibility of authorizing cryptocurrency auctions in individual territories, deputy Finance Minister Alexey Moiseev announced, as reported by RIA Novosti. According to Moiseev, the ministry is considering Kaliningrad as well as Russky and October Island for arranged digital currency auctions.

    “Of course, we believe that it is necessary to permit this exchange in Russia,” Moiseev assured. “In fact, in the bill (“On digital financial assets”) …

  • Security Service of Ukraine accuses cryptocurrency miners of financing DPR and LPR

    The Security Service of Ukraine (SBU) and the Chief Military Prosecutor's Office have conducted searches on crypto-currency mining "farms" in Kyiv, Kyiv Oblast and Cherkassy. Law enforcement says that the miners are financing the DPR and LPR.

    This was mentioned at a joint briefing with Oleksandr Klimchuk, head of the SBU’s Cyber-Security Department, said Chief Military Prosecutor Anatolii Matios.

    According to Matios, equipment was seized from 400 farms during the searches at PJSC Kvazar in …

  • Russian Finance Ministry expects the law on cryptocurrency to be adopted in September

    The Finance Ministry of the Russian Federation expects that the law on the management and use of crypto currency in the country will come into force in September 2018. In the Ministry's notification at the beginning of the drawing up of a draft law, it was said that the public discussion of the document will last until February 12th.

    The draft law on the regulation of digital assets was published by the Ministry of Finance on January 25th. It defines mining, crypto currency, and tokens. The …

  • Russian Sberbank to trade cryptocurrency through its Swiss subsidiary

    State-run Sberbank of Russia intends to launch trade operations with cryptocurrency through its bank subsidiary in Switzerland, Sberbank Switzerlang AG, as was announced by Sberbank’s Deputy President and head of Global Markets, Andrey Shemetov, according to the RBC news.

    Shemetov said that while Russian law does not permit operations with cryptocurrency, Swiss legislation allows them. “We want to serve our customers and consider that strategically we should have access to all types of …

  • Russia considers adopting 'cryptoruble' as a currency

    There was a new bill registered on January 25th in the Russian State Duma (the Russian Parliament) that seeks to designate a Russian cryptoruble as a means of payment in Russia. The bill was authored by Communist Party member and member of the parliament, Rizvan Kurbanov.

    The draft law, On the National Blockchain Mining System, seeks to introduce several new notions into Russian legislation, including the notion of a cryptoruble.

    Under the definition provided by the author of the bill, the …

  • Ukraine considering possibility of issuing its own cryptocurrency

    The National Bank of Ukraine (NBU) is considering the possibility of issuing its own cryptocurrency, as stated in a message on the website of the National Security and Defense Council (NSDC) of Ukraine.

    During a meeting of the National Coordinating Council for Cybersecurity, NSDC Secretary Oleksandr Turchynov stated that "the development of the cryptocurrency market cannot remain without the attention of the state." Following the meeting, the authorities issued orders to create a working group …

  • Separatist DPR considers legalizing blockchain mining and cryptocurrency transactions

    The Donbas Post, which is controlled by the so-called Donetsk People’s Republic is planning to introduce blockchain technology and cryptocurrencies, as stated in the publication ‘Ministries and Departments for 2018’ on the DNR-LIVE website.

    The publication does not contain detailed information on the development of blockchain technology.

    In November 2017, the Minister of Communications of the DPR, Viktor Yatsenko, called cryptocurrencies, “a promising mechanism to attract investment.”

    “I am …

  • Russia considers creating cryptocurrency for payments between BRICS and EEU countries

    The Bank of Russia is considering the possibility of introducing a supranational digital currency within the BRICS or the Eurasian Economic Union (EEU), Central Bank first deputy chairperson Olga Skorobogatova told reporters, Finanz.ru reports.

    “We are continuing the work to investigate this matter. A matter which seems to us advisable to discuss on with our colleagues is the possibility of introducing a supranational digital currency in EEU territory or within the BRICS. There are many …

  • Belarus develops national cryptocurrency

    The Belarussian publication of Interfax reports that Belarus has developed the first national cryptocurrency, called the thaler.

    The creators of the Belarusian crypto currency plan to launch it on the international exchanges in January.

    “We will enter the first international exchanges in January," said one of the creators of the thaler, Sergey Lavrinenko.

    In addition, according to Lavrinenko, the thaler is planned to launch on the Belarusian stock exchange, which will soon appear with the …