Russia | ForkLog

ForkLog 8 30.10.2024

Russia to Impose Mining Ban in Select Regions

The Russian authorities are set to prohibit cryptocurrency mining in certain regions of the country. This was reported by TASS, citing a statement from Evgeny Grabchak, Deputy Head of the Russian Ministry of Energy. He attributed the decision to a shortage of electricity. “Currently, the deficit areas are the Far East, the southwest of Siberia, […]

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ForkLog 9 28.10.2024

Digital Financial Assets Market Reaches 316 Billion Rubles

In the first nine months of 2024, there were 470 issuances of digital financial assets (DFA) with a total volume of approximately 316 billion rubles. This was reported by RBC, citing a report from the rating agency Expert RA. According to analysts, over 98% of DFA issuances were simple monetary claims. Meanwhile, the average maturity […]

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ForkLog 11 28.10.2024

Teen Crypto Traders in Moscow Robbed of 1.36 Million Rubles

Four teenagers aged 17-18 fell victim to a robbery, as reported by the Telegram channel Baza. During the night of October 23-24, five unknown individuals, claiming to be police officers, broke into their apartment on Tsvetnoy Boulevard. They forced the teenagers to lie on the floor, searched the apartment, and stole a total of 1.36 […]

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ForkLog 7 26.10.2024

Putin Enacts Law on Digital Currency Regulation in Russia

Russian President Vladimir Putin has signed a law regulating the circulation of digital currency within the country. The document will come into effect on November 1, 2024. Control over the registry of miners is being transferred from the Ministry of Digital Development to the FTS. The latter will have the authority to remove companies from […]

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ForkLog 21 23.10.2024

Banks Face Significant Costs to Launch Digital Ruble

Commercial banks will need to invest between 120 million and over 200 million rubles to connect to the national digital currency platform, according to experts interviewed by Kommersant. This includes “costs for infrastructure, ensuring information security, application software, and integration work with existing internal banking systems. As the number of connected clients and transactions grows, […]

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ForkLog 8 23.10.2024

Russia to Employ AI in Tackling Bitcoin Crime

Russian law enforcement agencies plan to adopt new technologies to combat DeFi-related crimes involving virtual assets. This was announced by Russia’s Prosecutor General Igor Krasnov. The department has already established a unit dedicated to integrating artificial intelligence into prosecutorial activities and has approved a corresponding three-year plan. “Alongside digital currency, other types of virtual assets […]

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ForkLog 8 22.10.2024

Russian Legislation Amends Cryptocurrency Mining Regulations

The Russian State Duma has passed amendments in the second and third readings to several legislative acts concerning the regulation of cryptocurrency mining, as reported by TASS. Notably, the law “On Electric Power Industry” now grants the government the authority to prohibit digital currency mining, including participation in mining pools, in specific regions or territories […]

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ForkLog 25 21.10.2024

Prosecutors Receive Bitmama Case with Reduced Damages

The criminal case against Valeria Fedyakina, a native of Simferopol known by the alias Bitmama, has been forwarded to the prosecutor’s office for indictment approval, reports Kommersant. Fedyakina collaborated with currency exchangers, receiving cash from them and promising to transfer the funds to another country with a bonus, despite the usual commission for such transactions. […]

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ForkLog 12 18.10.2024

Russian Exchanges to Disclose Crypto Investor Data

Russian cryptocurrency exchanges will be required to store all information about cryptocurrency owners for at least five years and provide it to law enforcement or other state agencies upon request, reports Parliamentary Newspaper. The relevant set of documents has been prepared by Rosfinmonitoring and may be adopted by the end of the year. “Worldwide, numerous […]

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ForkLog 12 17.10.2024

Russia’s Central Bank Anticipates Initial Crypto Payment Trials by Year-End

The Bank of Russia remains optimistic about conducting initial experimental international cryptocurrency transactions by the end of the year, reports Interfax, citing Central Bank head Elvira Nabiullina. Speaking with journalists on the sidelines of the Finopolis-2024 forum, the official noted that “there is interest from participants.” However, since the experimental legal regime (ELR) pertains to […]

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ForkLog 9 15.10.2024

Russian Miners Advocate for Stock Market Access

The legalisation of mining in Russia could enable major industry players to go public. This perspective was shared by Intelion Data Systems CEO Timofey Semenov at the Mining.ru forum, reports RBC. Going public would serve as a tool for attracting financing, a resource the industry currently lacks, the expert noted. On July 30, the State […]

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ForkLog 15 14.10.2024

Russia Launches Digital Financial Assets for Abstract Artist’s Work

The Moscow Exchange has introduced the “first on the Russian market” issuance of digital financial assets (DFAs) for a work of art. The piece tokenized is by abstract artist Yuri Zlotnikov from the “Protosignals” series. Tokenized work — “Protosignals” (#43). Data: myinvest.art. A total of 900 DFAs have been issued at a price of 1000 […]

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