Russia | ForkLog

ForkLog 19 06.09.2024

Bitriver Assesses Energy Consumption by Russian Miners

Electricity consumption by miners based in Russia has exceeded 2.5 GW, according to estimates by Bitriver CEO Igor Runets, reports TASS. The executive explained that this figure includes illegal grey cryptocurrency mining. “Such players connect to communal power grids at residential rates, which are not designed for the consumption profile typical of mining. Moreover, this […]

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ForkLog 17 05.09.2024

Russian Financial Pyramid Attempts Deceptive Entry into Digital Asset Market

An unnamed Russian platform for issuing digital financial assets (DFA) encountered fraudsters attempting to list their token on the market. This was revealed by the Deputy Chairman of the Bank of Russia, Philip Gabunia, as reported by Interfax. According to the official, the asset belonged to a certain financial pyramid, and the incident occurred “on […]

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ForkLog 16 05.09.2024

Putin Warns Against Siberian Stagnation Due to Cryptocurrency Mining

The surplus of energy resources used for mining in Siberia should not hinder the region’s development. This was stated by Russian President Vladimir Putin during the EEF, reports RBC. He acknowledged that the country is one of the global leaders in cryptocurrency mining and that businesses in this sector are “earning quite well.” “Mining is […]

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ForkLog 19 03.09.2024

Sberbank Advocates for Legalisation of Cryptocurrency Payments

Russia’s Sberbank supports the recognition of cryptocurrencies and stablecoins as legitimate payment instruments. This was stated by the bank’s Deputy Chairman of the Board and Head of Corporate and Investment Business, Anatoly Popov, in an interview with Reuters. According to him, the legalisation of mining in Russia and the possibility of international settlements in digital […]

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ForkLog 17 30.08.2024

Cryptocurrency Mining Farm Discovered at Ski Base in Leningrad Region

Law enforcement officials have uncovered an illegal cryptocurrency mining farm composed of graphics cards at the Kavgolovo training centre in the Vsevolozhsky district of the Leningrad region, as reported by 47news. The 25 devices, powered by a private gas-fired thermal power station, were located within an indoor ski tunnel with artificial snow. They were monitored […]

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ForkLog 42 29.08.2024

Russian Billionaire’s Daughter Loses Bitcoins Worth 112 Million Rubles

The daughter of Ural billionaire and former Russian State Duma deputy Sergey Weinstein has lost bitcoins valued at 112 million rubles at the time of purchase, according to the Telegram channel 112. In 2023, 23-year-old Alexandra acquired a hardware crypto wallet through acquaintances, deposited 29 BTC into it, and left it with a friend for […]

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ForkLog 38 27.08.2024

Russia Allocates 10.6 Billion Rubles for Bitcoin Holder Identification

By 2030, Rosfinmonitoring will receive 10.61 billion rubles to develop a digital platform aimed at combating money laundering. One of its functions will be to monitor cryptocurrency transactions, facilitating the identification of bitcoin wallet holders, according to local media. Under the “Digital State Governance” project, the platform will connect five federal executive bodies under the […]

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ForkLog 31 22.08.2024

CryptoSummit in Russia Bans Cryptocurrency Advertising

The organisers of the CryptoSummit forum have informed participants of a ban on advertising cryptocurrency transactions at their stands, as reported by Kommersant. Specifically, the promotion of particular coins, trading bot services, asset management, exchanges, and wallets is prohibited. However, advertising crypto forums or courses is permitted. In their letter, the organisers referred to the […]

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ForkLog 63 18.08.2024

Yandex Prohibits Cryptocurrency and Mining Advertisements

Yandex has updated its advertising policies, banning the promotion of digital assets, mining, blockchains, and cryptocurrency projects on its platform. Source: Yandex Help. According to Yandex’s rules, the following advertisements are prohibited: electronic currency exchanges, including those exclusively for cryptocurrencies; blockchains and smart contracts; mining and ICOs; earning from cryptocurrency, mining, or ICOs with details […]

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ForkLog 52 15.08.2024

Survey Reveals 59% of Russians Uninterested in Digital Ruble

The Bank of Russia plans to expand its digital ruble pilot by September, incorporating dozens of new participants. However, a majority of Russians remain uninterested in using the instrument, according to a survey by VTSIOM. The regulator has stated that the testing of the CBDC is progressing as planned. Currently, around 20 banks are preparing […]

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ForkLog 21 14.08.2024

Russian Finance Ministry and Central Bank at Odds Over Bitcoin Exchanges

The Russian Finance Ministry and the Central Bank are in discussions about establishing cryptocurrency exchanges in the country, yet consensus remains elusive. This was disclosed by Russian Finance Minister Anton Siluanov, as reported by TASS. “This topic is under discussion, as both the Central Bank and the government, represented by the Finance Ministry, are actively […]

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ForkLog 33 09.08.2024

OKX Faces Compliance Challenges in Russia Amid Regulatory Pressures

Star Xu, CEO of the cryptocurrency exchange OKX, is wary of following in the footsteps of former Binance chief Changpeng Zhao, making strict compliance a priority for the platform. This was stated by Blum co-founder Gleb Kostarev. Citing reliable sources within OKX, he noted that a large team is dedicated to compliance issues. Despite the […]

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