Contents tagged with cryptocurrency

  • Russia considers using cryptocurrency for arms deals

    The Russian Engineering Union (“SoyuzMash”) in conjunction with an expert council from the State Duma’s defense industry commission has asked the Central Bank of Russia to consider the possibility of cryptocurrency payments for arms deals with foreign customers, announced Russian MP and SoyuzMash vice-president Vladimir Gutenev.

    “We suggested a whole range of measures, and I personally made a suggestion to [Central Bank Head Elvira] Nabiullina. She is currently discussing it. The so-called ‘ …

  • Greece decides to extradite to France Russian national suspected of cryptocurrency fraud

    The court in Greece approved the request of France to extradite a 38-year-old Russian Alexander Vinnik who is suspected of fraud using cryptocurrency. Vinnik is also wanted by the United States and Russia. Moscow threatened with retaliatory measures, Radio Liberty reports.

    Vinnik was arrested in Greece last year on a warrant issued by the United States. In France, the Russian is accused of cybercrime, money laundering, membership in criminal organization and extortion.

    Previously, the Greek …

  • Media: DPR militants to buy WEX cryptocurrency exchange

    Dmitry “Moryachok” Khavchenko, a former militiaman close to the previous DPR prime minister, intends to purchase WEX, a Russian cryptocurrency exchange with a daily trading volume of $20 million. WEX was previously BTC-e, which was shut down by the FBI. Khavchenko plans to turn the exchange into a “powerful and patriotic project”.

    An investigation by RBC news agency showed that Konstantin Malofeev may be behind the deal. Khavchenko made a provisional agreement with WEX founder Dmitry Vasilyev …

  • Media: Russia decided to block Telegram messenger because of Durov’s plans to launch his own cryptocurrency

    Russia has decided to block Durov’s messenger Telegram in response to founder Pavel Durov’s plans to launch his own cryptocurrency, reports RBC news agency,citing an internal letter of the Federal Security Servicen (FSB).

    “The story is not about terrorism. Pasha Durov decided to become a new Sergei Mavrodi [a Russian financial fraudster],” the letter reads. “After such cryptocurrency is laucnhed in Russia, we would have a completely uncontrolled financial system. It is not Bitcoin for a …

  • 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 …