Russia | ForkLog

ForkLog 12 20.03.2024

Bitcoin Miners Seized by Police Stolen in Moscow Region

The Investigative Committee of the Moscow Region has initiated a criminal case against unidentified officers of the Ministry of Internal Affairs, from whom seized cryptocurrency miners were stolen. This was reported by Kommersant. According to the case materials, 68 ASIC miners and other equipment were confiscated by police in April 2022 during a raid in […]

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ForkLog 10 19.03.2024

Irkutsk Region to Prosecute Owner of 214-Device Mining Farm

The Cheremkhovo city prosecutor’s office approved an indictment against a 35-year-old local resident involved in cryptocurrency mining. According to the investigation, from January to February 2023, the man installed 214 ASIC miners in a rented non-residential space and illegally connected them to a nearby transformer substation. Source: Irkutsk Region Prosecutor’s Office. The operation of the […]

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ForkLog 36 18.03.2024

WEX ‘Red Admin’ Verdict Upheld by Moscow Court

On March 18th, the Moscow City Court reviewed an appeal by Alexey Bilyuchenko (Ivanov), the system administrator of the cryptocurrency exchange WEX, against a previous guilty verdict. This was reported by journalist Irek Murtazin. The final statement of Alexey Bilyuchenko (Ivanov). Source: Irek Murtazin’s Telegram channel. Bilyuchenko is accused of embezzling 3.1 billion rubles of […]

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ForkLog 12 18.03.2024

Russia to Develop Platform for Seized Cryptocurrencies

Russia’s Interior Minister Vladimir Kolokoltsev has instructed the Ministry of Finance to establish a state digital platform for storing seized cryptocurrencies, as reported by Izvestia. The Ministry of Internal Affairs’ press service noted that the Ministry of Finance initiated this proposal during last year’s government commission meeting on enhancing the effectiveness of combating internet-related offenses. […]

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ForkLog 10 13.03.2024

EU Approves Criminal Penalties for Circumventing Sanctions with Cryptocurrencies

On March 12, Members of the European Parliament approved a directive criminalizing violations and circumvention of EU sanctions. The directive includes standardized and stricter penalties for: refusing to freeze accounts and wallets, as well as conducting transactions with fiat or cryptocurrency assets of sanctioned individuals and companies; concealing the true owner of property and failing […]

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ForkLog 8 06.03.2024

Federation Council Approves Law on International Settlements in Digital Financial Assets

On March 6, the Federation Council approved a law permitting the use of digital financial assets and utilitarian digital rights in international settlements, as reported by TASS. The amendments are made to the laws “On Currency Regulation and Currency Control” and “On Digital Financial Assets”. The document classifies the acquisition and disposal of digital assets […]

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ForkLog 34 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 9 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 9 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 15 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 12 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 23 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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