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ForkLog 25 28.03.2024

Sberbank Clarifies Card Unfreezing Procedure After Cryptocurrency Transactions

Clients of Sberbank who have experienced card freezes following cryptocurrency transactions can unfreeze them by providing exchange account details. This was reported by RBC, citing a representative of the financial institution. As such operations are considered suspicious, the bank restricts card usage and requests clarification on the source of funds. Income can be verified through […]

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ForkLog 16 28.03.2024

Tinkoff Secures License for Digital Financial Assets Issuance

On March 28, the Bank of Russia added Tinkoff Bank to the registry of operators of information systems for the issuance of digital financial assets (DFAs). The regulator approved the relevant rules with the credit organization. In addition to Tinkoff, licenses for DFA issuance in Russia are also held by: Atomyze, Lighthouse, Sberbank, Alfa-Bank, Masterchain, […]

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ForkLog 16 26.03.2024

Surge in Cryptocurrency-Related Court Cases in Russia

In 2023, Russian courts examined 2,653 cases related to cryptocurrencies, a fivefold increase from the 510 cases in 2021. This information comes from a study by the educational platform Moscow Digital School and the law firm EBR, available to ForkLog. 62% of last year’s proceedings were related to bankruptcy disputes, marking a 91% rise from […]

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ForkLog 22 25.03.2024

US Imposes Sanctions on Atomyze and Bitpapa Platforms

The US Department of the Treasury’s Office of Foreign Assets Control (OFAC) expanded its sanctions list to include Russian platforms for issuing digital financial assets — Atomyze, Lighthouse, and Masterchain. Also added to the SDN list were: P2P marketplace Bitpapa; Crypto Explorer DMCC; blockchain technology developer Web3Tech; “Electronic Payment Processing Center” — operator of the […]

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ForkLog 51 25.03.2024

Binance Accuses CommEX of Breach of Obligations

Cryptocurrency exchange Binance has commented to ForkLog on the closure of the trading platform CommEX, to which it sold its Russian business in September 2023. According to a spokesperson for the exchange, CommEX failed to meet its obligations to Binance under the terms of the agreement. “This decision in no way affects our obligations to […]

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ForkLog 43 25.03.2024

CommEX Announces Gradual Suspension of Operations from March 25

The cryptocurrency exchange CommEX announced a gradual suspension of operations. “Regrettably, after a thorough analysis of the current situation and a review of strategic plans, we are compelled to announce the decision to suspend the operation of the trading platform,” stated representatives of the platform. From March 25 at 10:00 UTC (13:00 MSK), the exchange […]

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ForkLog 12 20.03.2024

Bitcoin Miners Seized by Police Stolen in Moscow Region

The Investigative Committee of the Moscow Region has initiated a criminal case against unidentified officers of the Ministry of Internal Affairs, from whom seized cryptocurrency miners were stolen. This was reported by Kommersant. According to the case materials, 68 ASIC miners and other equipment were confiscated by police in April 2022 during a raid in […]

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ForkLog 13 19.03.2024

Irkutsk Region to Prosecute Owner of 214-Device Mining Farm

The Cheremkhovo city prosecutor’s office approved an indictment against a 35-year-old local resident involved in cryptocurrency mining. According to the investigation, from January to February 2023, the man installed 214 ASIC miners in a rented non-residential space and illegally connected them to a nearby transformer substation. Source: Irkutsk Region Prosecutor’s Office. The operation of the […]

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ForkLog 57 18.03.2024

WEX ‘Red Admin’ Verdict Upheld by Moscow Court

On March 18th, the Moscow City Court reviewed an appeal by Alexey Bilyuchenko (Ivanov), the system administrator of the cryptocurrency exchange WEX, against a previous guilty verdict. This was reported by journalist Irek Murtazin. The final statement of Alexey Bilyuchenko (Ivanov). Source: Irek Murtazin’s Telegram channel. Bilyuchenko is accused of embezzling 3.1 billion rubles of […]

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ForkLog 20 18.03.2024

Russia to Develop Platform for Seized Cryptocurrencies

Russia’s Interior Minister Vladimir Kolokoltsev has instructed the Ministry of Finance to establish a state digital platform for storing seized cryptocurrencies, as reported by Izvestia. The Ministry of Internal Affairs’ press service noted that the Ministry of Finance initiated this proposal during last year’s government commission meeting on enhancing the effectiveness of combating internet-related offenses. […]

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ForkLog 16 13.03.2024

EU Approves Criminal Penalties for Circumventing Sanctions with Cryptocurrencies

On March 12, Members of the European Parliament approved a directive criminalizing violations and circumvention of EU sanctions. The directive includes standardized and stricter penalties for: refusing to freeze accounts and wallets, as well as conducting transactions with fiat or cryptocurrency assets of sanctioned individuals and companies; concealing the true owner of property and failing […]

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ForkLog 9 06.03.2024

Federation Council Approves Law on International Settlements in Digital Financial Assets

On March 6, the Federation Council approved a law permitting the use of digital financial assets and utilitarian digital rights in international settlements, as reported by TASS. The amendments are made to the laws “On Currency Regulation and Currency Control” and “On Digital Financial Assets”. The document classifies the acquisition and disposal of digital assets […]

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