Russia | ForkLog

ForkLog 5 12.04.2024

Russia to Establish Bitcoin Miners Registry

A key aspect of the legislative regulation of mining will be the introduction of a cryptocurrency miners registry. This was announced by Anton Gorelkin, Deputy Chairman of the State Duma Committee on Information Policy, Information Technology, and Communications, on his Telegram channel. The registry will be maintained by an authorized government body, with the Ministry […]

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ForkLog 12 10.04.2024

Illegal Cryptocurrency Mining Farms Shut Down in Novosibirsk

Specialists from “Rosseti Novosibirsk,” in collaboration with the police, discovered four cryptocurrency mining farms illegally connected to the power grid. The premises housing the ASIC miners were scattered across the city — near sewage treatment facilities, in a forested area on the outskirts of the Leninsky district, near the city dump on the left bank, […]

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ForkLog 24 30.03.2024

Russian Central Bank Estimates 2023 Cryptocurrency Turnover

By the end of 2023, the cryptocurrency turnover potentially attributable to Russians could have reached nearly 5 trillion rubles ($54 billion). This is stated in the annual report of the Bank of Russia, according to TASS. “An analysis of the crypto asset market indicates a potentially high level of Russian involvement in the crypto asset […]

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ForkLog 39 29.03.2024

Raids Conducted at Moscow Offices of Bitcoin Exchanges Beribit and ABCEX

On March 29th, law enforcement officers raided the office of the cryptocurrency exchange Beribit, located on the 52nd floor of the Federation Tower in “Moscow-City,” according to the Telegram channel Shot. To gain entry, the authorities had to break down the door. At the time of writing, the Beribit website is not operational. Source: Telegram […]

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ForkLog 38 29.03.2024

How Will FATF’s Methodology for Crypto Companies Change?

FATF has released a draft version of its new Mutual Evaluation Methodology. Experts will focus on the main risks and operational context of VASPs in each specific country. FATF recommendations are not legally binding, but non-compliance can harm the reputation of financial institutions in a country. FATF has not yet announced plans to include Russia […]

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ForkLog 10 28.03.2024

US and UK Investigate Garantex Over $20 Billion USDT Transfers

Authorities in the US and UK are investigating USDT transfers amounting to $20 billion through the Russian exchange Garantex. This was reported by Bloomberg, citing informed sources. According to these sources, the investigation is part of efforts to combat sanctions evasion. All stablecoin transactions occurred after April 2022, when Garantex was added to the US […]

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ForkLog 15 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 10 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 14 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 15 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 27 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 26 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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