Russia | ForkLog

ForkLog 9 07.06.2024

Russia’s Central Bank to Implement Currency Control on Digital Financial Assets

The Bank of Russia plans to extend currency control to transactions involving digital financial assets (DFA). This information comes from Vedomosti, citing a draft directive from the regulator. According to the document, the central bank proposes to require both residents and non-residents to register foreign trade contracts, settled through digital rights, with an authorized bank. […]

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ForkLog 6 06.06.2024

Russian Mining Bill Faces Calls for Revision

The Legal Department of the Russian State Duma has identified issues with a bill regulating mining and introducing a partial ban on cryptocurrency circulation in the country. The document was published by the Telegram channel “Mendeleevshina.” According to the review, vague wording in the article defining the organization of digital currency circulation is inconsistent with […]

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ForkLog 17 28.05.2024

Russian Metallurgical Giants Embrace USDT for International Transactions

At least two of Russia’s largest metal producers, not subject to sanctions, have begun using the stablecoin USDT and other cryptocurrencies for international transactions. This was reported by Bloomberg, citing company executives. According to them, the deals are primarily conducted with Chinese clients and suppliers. In some cases, transactions are routed through Hong Kong. The […]

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ForkLog 9 27.05.2024

Dagestan Shuts Down 18 Illegal Mining Farms in Three Months

From January to March 2024, authorities in Dagestan halted 18 instances of electricity theft for cryptocurrency mining. This was reported by specialists from the local branch of Rosseti North Caucasus. The illegal miners consumed over 11 million kWh of energy during this period. In total, Dagenergo, in collaboration with law enforcement, identified 880 cases of […]

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ForkLog 82 27.05.2024

Russian Mining Companies Ranked by Revenue

The publication RBC, using data from Rusprofile, has calculated the revenue of Russian mining companies for 2023 and compiled a corresponding ranking. Leading the list is the data center operator BitRiver, whose five legal entities declared a total of 12.56 billion rubles for the period under review. This represents a 59% increase over 2022 figures. […]

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ForkLog 15 25.05.2024

BitRiver Launches Digital Financial Assets on Atomyze Platform

The Russian data center operator BitRiver has launched digital financial assets (DFAs) for all investors on the Atomyze platform. The price of one DFA is 1000 rubles, with a total issuance volume of 300 million rubles. The interest rate is 18% per annum with monthly interest payments. In March, Tinkoff Bank secured a license for […]

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ForkLog 11 24.05.2024

Russian Central Bank Assesses Cryptocurrency Transactions at 4.5 Trillion Rubles

In the fourth quarter of 2023 and the first quarter of 2024, the cryptocurrency turnover attributed to Russians, involving four crypto assets (Bitcoin, Ethereum, USDT, and USDC), reached 4.5 trillion rubles ($50.3 billion), according to a recent report by the Bank of Russia. This figure represents a 15.6% increase compared to the second and third […]

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ForkLog 22 23.05.2024

Case of 2718 BTC Bribery Reaches Moscow Region Court

The Balashikha court has received a criminal case against former Moscow investigator Marat Tambiev and his subordinate Kristina Lyakhovenko, accused of accepting a substantial bribe in bitcoins from members of the hacker group Infraud Organization, as reported by Kommersant. The jurisdiction was changed due to concerns about Tambiev’s potential connections within the Moscow judiciary. Previously, […]

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ForkLog 16 23.05.2024

Russian Supreme Court Mandates Verification of Bitcoin Wallet Ownership in Legal Cases

The Supreme Court of Russia has ordered a retrial in a case concerning illicit enrichment through cryptocurrency, citing an unfounded decision by the appellate court. This was reported by RAPSI. According to the case details, the plaintiff lent the defendant 313,008 USDT with interest, but the defendant failed to repay. The plaintiff alleged unjust enrichment […]

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ForkLog 44 21.05.2024

Key Figure in ‘Finiko’ Pyramid Sentenced to 4.5 Years in Prison

The Vakhitovsky District Court of Kazan has found Lilia Nuriyeva, a prominent participant in the financial pyramid scheme ‘Finiko’, guilty of fraud and involvement in a criminal organization, sentencing her to 4.5 years in prison. This was reported by local media. According to the case materials, the 42-year-old Nuriyeva defrauded 161 individuals between July 2019 […]

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ForkLog 11 21.05.2024

Initial Fraud Case Against Beribit Exchange Dismissed

Investigators in Khabarovsk initiated a criminal case based on a complaint from a client of the cryptocurrency exchange Beribit. This was highlighted by the Telegram channel «Менделеевщина». According to the document, the victim reported the theft of funds totaling 1.1 million rubles (10,910 USDT). The case, citing large-scale fraud, was filed against an “unidentified person.” […]

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ForkLog 17 20.05.2024

Lidings Law Firm Begins Accepting Claims from WEX Clients

The law firm Lidings has announced the commencement of accepting claims from both Russian and international clients of the WEX exchange for asset recovery. According to the announcement, Lidings is the sole representative of the platform on this matter. Claims in Russian or English are accepted via email or through WhatsApp and Telegram, using the […]

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