Russian Bitcoin miners are concerned about a government mandate requiring wallet addresses to be included in a national registry. Russian lawmaker Anton Gorelkin highlighted these concerns in a Feb. 7 Telegram post, warning that geopolitical rivals could exploit leaked addresses. He described such a scenario as a major threat, as sanctions could severely impact mining […]
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Russia’s Ministry of Energy plans to introduce a nationwide registry for crypto mining equipment, making registration mandatory for all operations. According to a Feb. 3 TASS report, Deputy Minister of Energy Yevgeny Grabchak is leading the initiative to refine existing mining regulations and improve oversight. The move follows ongoing concerns about illegal mining, particularly in […]
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Rosseti, Russia’s state-owned electricity giant, is reportedly evaluating Bitcoin mining to enhance energy utilization in areas with surplus capacity, local news agency TASS reported. According to the report, the power grid operator plans to establish mining infrastructure in regions with low energy demand. The company believes this move would improve energy efficiency and generate tax […]
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Russia has seen a sharp rise in Bitcoin mining activity as citizens and businesses turn to crypto mining for additional income streams, local media outlet Prime reported. According to the report, the demand for industrial Bitcoin mining equipment in Russia has tripled compared to the same quarter in 2023. This surge coincides with a lucrative […]
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The Bitcoin seized from former ICRF employee Marat Tambiev will be turned into Russian state revenue from a hardware crypto wallet.
This week’s Crypto Biz explores Bitcoin’s landmark year, Crypto.com’s new custody service, Russia’s partial ban on crypto mining and taxes on staking rewards in the US.
Russia is actively using Bitcoin and other cryptocurrencies to counteract the impact of Western sanctions on its economy, Reuters reported on Dec. 25. The report cited Finance Minister Anton Siluanov, who recently stated that Russian companies have begun to utilize digital currencies, particularly Bitcoin mined within the country, for international transactions. He reportedly said: “As part […]
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Russia has all legal tools to use digital financial assets and Bitcoin in foreign trade, Finance Minister Anton Siluanov said.
According to local reports, the Russian government will ban crypto mining activities in ten key regions following the recent enactment of the new industry-related laws. It will also implement seasonal bans on other territories and potentially add more areas to the list amid the ongoing electrical crisis in the country. Related Reading: Cardano Leader Charles […]
Russia has introduced a regional ban on Bitcoin mining, set to begin on Jan. 1, 2025, and remain in effect until March 15, 2031, local Russian media outlet Tass reported on Dec. 24. According to the report, The decision affects ten regions, including Dagestan, Ingushetia, Kabardino-Balkaria, Karachay-Cherkessia, North Ossetia, Chechnya, the Donetsk and Lugansk People’s […]
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Temporary bans may be imposed in other regions during peak energy demand, Tass reported
Russia’s key crypto mining regions like Irkutsk will enforce seasonal mining restrictions instead of originally proposed complete bans.
Anton Tkachev proposed "assessing the feasibility of creating a strategic BTC reserve in Russia by analogy with state reserve in traditional currencies."
Anton Tkachev, a State Duma deputy from the “New People” party, has formally proposed the establishment of a Strategic Bitcoin Reserve (SBR). Tkachev submitted an appeal to the Russian Minister of Finance, Anton Siluanov, advocating for the creation of a Bitcoin reserve analogous to the country’s existing reserves in traditional currencies. The proposal has been […]
Hydra market founder Stanislav Moiseev and 15 of his accomplices were jailed for between 8 and 23 years for their involvement in the darknet market and crypto mixer.
Russia’s Federation Council – the country’s upper house of parliament – has approved a landmark cryptocurrency taxation bill. Among its key provisions, the legislation imposes a maximum tax rate of 15% on Bitcoin (BTC) and other digital asset mining operations. New Cryptocurrency Tax Law Set To Come Into Effect Russia’s upper house of parliament has […]
Bitcoin’s path to $100,000 is supported by strong institutional interest, macroeconomic trends and miner confidence.
The Russian Federation Council’s approval of the new crypto taxation regime comes amid Bitcoin hitting all-time highs against Russia’s national currency, the ruble.
If approved, the restrictions would seriously affect Russia’s crypto mining operations, as some key local industry firms have a heavy presence in regions like Irkutsk.
Russia is poised to implement a 15% tax on all crypto mining and trading activities. The move aims to foster a regulatory framework that supports the growing digital asset industry. 15% Tax On Crypto Trading And Mining Activities According to Interfax, the Russian Government has approved draft amendments to the bill on taxation of income […]
Russia’s crypto mining laws have filled the “regulatory vacuum,” but there is still a lot of legal uncertainty about many aspects of regulation.
Russia is set to restrict crypto mining in several of its regions due to ongoing energy shortages, announced Deputy Minister of Energy Yevgeny Grabchak. On Oct. 30, the state news agency TASS confirmed the impending ban, which will affect areas where electricity deficits make it challenging to support crypto mining’s high power demands. Grabchak noted […]
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In an appearance on CNBC’s “Squawk Box,” Matthew Sigel, Head of Digital Assets Research at investment firm VanEck, forecasted a significant shift in global trade dynamics with the potential adoption of Bitcoin by BRICS nations. Sigel’s insights come amid growing fiscal policy concerns in the United States and increasing efforts by emerging economies to circumvent […]
Russian nationals Sergey Ivanov and Timur Shakhmametov have been charged for their involvement in operating money laundering services that catered to cybercriminals using cryptocurrencies, U.S. authorities announced on Thursday.
The cryptocurrency mining in Russia has reached an industrial boom, whereby the number of Bitcoins minted by industrial miners reportedly reached about 54,000 Bitcoins this year. Related Reading: Stock Market’s $1.05 Trillion Wipeout Puts To Test Bitcoin Stability – What’s Next? Translated, this is about $3 billion, showing how big the industry has grown. As […]
Russia explores other forms of international trade settlement following US sanctions blocking it from the SWIFT interbank messaging system.
Russia's lower house of the Federal Assembly, known as the State Duma, has passed two crypto-related laws on Tuesday, a Russia based policy expert told CoinDesk and Ria Novosti, Russia's state-owned domestic news agency reported.
Russia's crypto regulation efforts underscore the increasing role of digital assets in geopolitical and economic strategies amid US sanctions.
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El Salvador has reportedly suggested using digital assets like Bitcoin for trade with Russia to circumvent the extensive economic sanctions imposed on Moscow. Alexander Ilyukhin, Russia’s first secretary at the Nicaraguan embassy and head of its El Salvador office, revealed this in an interview with Russian state media outlet Izvestia. Bitcoin transactions The proposed use of […]
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A study from TRM Labs says that Russia’s involvement in illegal crypto operations grew a lot in 2023. Almost 70% of all cryptocurrency earnings from ransomware came from groups of people who spoke Russian. This makes them big players in this field. Related Reading: Kamala Harris Finds Ally In Ripple CEO Amid Crypto Backlash It […]