Russia | ForkLog

ForkLog 41 05.03.2024

Kaliningrad Court Sentences Crypto Investor’s Kidnappers

Two residents of the Kaliningrad region have been found guilty of kidnapping, extortion, car theft, robbery, and attempted murder, according to a statement by the local Investigative Committee. In September 2021, they kidnapped a Kaliningrad resident who had substantial cryptocurrency savings. They held him for nearly a day in an undisclosed location, where they coerced […]

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ForkLog 10 04.03.2024

CommEX Estimates Earnings of Bitcoin Exchanges Serving Russian Traders

In Russia, there are approximately 6 million active cryptocurrency traders, with an average transaction volume of $8000 per month. This was stated by Anton Toroptsev, the regional director of the CommEX exchange in Russia and the CIS, during his speech at the Global Vision Summit in Moscow. According to him, with an average commission ranging […]

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ForkLog 17 29.02.2024

Bank of Russia Issues New Cryptocurrency Guidelines for Banks

The Bank of Russia has stated the need to minimize the involvement of financial institutions in activities related to the circulation of digital currencies. In particular, the advertising of services for the circulation of such instruments is deemed undesirable. Commercial banks are advised to identify transactions involving the purchase and sale of digital currencies using […]

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ForkLog 23 29.02.2024

Russian University Websites Hacked for Cryptocurrency Mining

FSB officers have detained a local resident in Kurgan, suspected of hacking attacks on the websites of Russian state universities. This was reported by Kommersant, citing the agency’s press service. According to the investigation, the 42-year-old from Kurgan allegedly used malicious software to bypass the security systems of several educational institutions with the aim of […]

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ForkLog 22 28.02.2024

FATF Downgrades Russia’s Rating Over Inadequate Bitcoin Market Regulation

Russia’s rating concerning the FATF recommendations on the virtual assets market has been downgraded to “Partial Compliance.” This is evidenced by a report from the EAG. According to the document, the jurisdiction is taking insufficient measures in the legislative regulation of virtual currency circulation. Experts specifically mentioned the absence of a definition for providers of […]

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ForkLog 41 27.02.2024

Russia Legalizes Digital Financial Assets for International Transactions Amid Skepticism

Russia has authorized the use of digital financial assets and utility digital rights for international contracts. Experts question the demand for this tool, citing issues with digital financial assets, including liquidity problems. Cryptocurrencies remain a more convenient means of settlement for businesses. On February 27, the Russian State Duma passed in the third reading a […]

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ForkLog 17 26.02.2024

Bitcoin Miner Thieves Apprehended After Chase in Irkutsk

Traffic police in Irkutsk have apprehended serial thieves of cryptocurrency mining equipment, according to the local Ministry of Internal Affairs. The latest report of stolen ASIC miners was filed on December 25, 2023, by the owner of a tire repair shop where the devices were stored. During the investigation, law enforcement identified the suspects as […]

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ForkLog 20 21.02.2024

CommEX Faces Temporary Issues with Ruble Gateway

On February 21, the cryptocurrency exchange CommEX reported encountering temporary difficulties in withdrawing rubles through its fiat channel. “Withdrawals to cards are operational, but the conversion rate is not very high,” platform representatives clarified in a comment to ForkLog. They also stated that the current situation is unrelated to the suspension of withdrawals at QIWI […]

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ForkLog 51 21.02.2024

Russian Central Bank Revokes License of Qiwi Bank Amid Cryptocurrency Exchange Transfers

Qiwi Bank’s license was revoked due to high-risk operations, specifically mentioning cryptocurrency exchanges. The closure of the payment system will not affect legitimate market players. The regulator’s statement in this case does not pertain to the crypto industry. On February 21, the Russian Central Bank revoked the license of Qiwi Bank for systematic violations of […]

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ForkLog 11 20.02.2024

Analysts Predict Digital Financial Assets Market Could Reach 500 Billion Rubles

Within three years, the digital financial assets (DFA) market could reach 500 billion rubles under a moderately optimistic development scenario, reports RBC, citing analysts from ACRA. Experts noted that their calculations are influenced by macroeconomic factors, including interest rates and indicators of macroeconomic stability. Analysts were uncertain whether certain types of tokens could become alternatives […]

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ForkLog 14 15.02.2024

Dagestan Leads in Electricity Theft by Miners

In 2023, the total volume of unaccounted electricity consumption by miners in the North Caucasus reached 22.5 million kWh, according to a report from the local branch of Rosseti. Company specialists halted 19 instances of energy theft, resulting in losses amounting to nearly 79.6 million rubles. Sixteen cases of unauthorized connections to power grids for […]

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ForkLog 15 13.02.2024

Russians Dominate Bybit Traffic in January

In January, Russian users led in visits to the cryptocurrency exchange Bybit, accounting for 23% of the traffic. This was reported by journalist Colin Wu. Russian activity was also noted on platforms MEXC (19% of total traffic), Bitget (11%), and HTX (10%). Data: Wu Blockchain. Alongside users from Russia, 10% of all HTX visits were […]

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