Russia | ForkLog

ForkLog 24 23.09.2024

Bitcoin Exchange with 200 Million Ruble Turnover Shut Down in Moscow City

Moscow police have halted the operations of an illegal cryptocurrency exchange with a turnover exceeding 200 million rubles, according to the press service of the Russian Ministry of Internal Affairs. Investigators allege that a transnational group of criminals provided services for cashing out and transferring funds through banking operations, cash services for individuals, and selling […]

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ForkLog 81 23.09.2024

ABCEX Launches Crypto-Fiat ATM in Moscow

The Russian bitcoin exchange ABCEX has introduced an ATM for crypto-fiat exchange. The machine is located at the trading platform’s office in “Moscow-City.” Through the ATM, clients can top up exchange accounts and withdraw funds in rubles without fees. There are plans to install similar machines in all major cities across Russia. In comments to […]

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ForkLog 12 17.09.2024

Russian Crypto Firms Excluded from Central Bank’s Experimental Group

Russian authorities have established a focus group for an experiment involving international cryptocurrency settlements, according to Vedomosti, citing three informed sources. The group includes select importers from the Russian Chamber of Commerce and Industry and the Association of Electronics Developers and Manufacturers, as well as some banks. “The focus group comprises importers facing significant challenges […]

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ForkLog 40 16.09.2024

Bank of Russia Highlights Risks of Cryptocurrency Transactions

The Bank of Russia views the widespread adoption of cryptocurrencies and stablecoins as a risk factor for the country’s domestic economy. This is outlined in the draft of the main directions for the development of the financial market until 2027. The regulator once again referred to digital currencies as “monetary surrogates” and emphasized that without […]

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ForkLog 14 16.09.2024

Mining GPUs Gain Popularity as Collateral in Russia

Russians are increasingly taking loans secured by graphics cards used for cryptocurrency mining. This is reported by RBC, citing data from the Federal Notary Chamber (FNP). Over five years, the number of records for these devices in the movable property registry has doubled to 1600. The increase over the past year was 13%. The FNP […]

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ForkLog 14 13.09.2024

Russia to Regulate Cryptocurrency Trading by November, Says Aksakov

By November, the Central Bank of Russia and the Ministry of Finance will prepare the necessary regulatory documents to define the parties involved in the cryptocurrency trading process within the framework of ELR. This was reported by Anatoly Aksakov, head of the State Duma Committee on Financial Markets, to Parliamentary Newspaper. “[Trading will be conducted] […]

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ForkLog 47 12.09.2024

Russia’s Central Bank Sets Timeline for Digital Ruble Access

By July 1, 2025, Russia’s largest banks are required to offer clients access to digital ruble operations, including account opening, funding, and transfers. The Central Bank of Russia has submitted the relevant proposals for legislative amendments to the Ministry of Finance. Other banks with a universal license have until July 1, 2026, to update their […]

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ForkLog 30 11.09.2024

Ukraine and Russia Among Top 10 in Global Crypto Adoption

Ukraine and Russia have secured the sixth and seventh positions, respectively, in the 2024 Global Crypto Adoption Index by the analytics firm Chainalysis. Our 2024 Global Crypto Adoption Index is here! The top 10 countries spanned 5 continents, but Central & Southern Asia and Oceania (CSAO) dominated the list. Read on to see the top […]

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ForkLog 56 10.09.2024

Yandex’s Cryptocurrency Ad Ban Sparks Surge in Scams

At the end of August, Yandex banned advertisements for nearly all crypto services on its platform, leading to a surge in fraudulent activities. This was highlighted by experts from the AML service BitOK. Now, any search query containing the word “cryptocurrency” results in numerous scam courses and signal advertisements being displayed. The disappearance of Russian […]

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ForkLog 25 10.09.2024

MTS Uncovers Hundreds of Illegal Mining Farms in Russia

Since the beginning of 2024, MTS specialists have identified over a hundred illegal mining farms within the customer service areas in Russia. This was reported by Pavel Fedosov, head of the corporation’s IoT center, according to TASS. The MTS platform is capable of detecting meters that transmit understated readings and specific network segments using big […]

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ForkLog 11 09.09.2024

Bank of Russia to Develop Legal Framework for Digital Asset Segregation

The Bank of Russia is drafting amendments to enable the transfer of digital financial assets (DFA) into trust management and their inclusion in mutual investment funds. This was announced by the Deputy Chairman of the Central Bank, Philip Gabunia, as reported by Vedomosti. The regulator will outline a mechanism to segregate these assets from other […]

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ForkLog 38 06.09.2024

Chainalysis: Russia’s Crypto Laws Aimed at Sanctions Evasion

In a new report, analysts at Chainalysis highlighted the adoption of “significant” laws in Russia that legalise mining and the use of cryptocurrencies for international payments. The company noted that the new direction represents a “significant departure” from the government’s previous stance, when in 2022 the Central Bank of Russia advocated for a complete ban […]

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