Russia | ForkLog

ForkLog 17 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 34 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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ForkLog 14 26.02.2024

Bitcoin Miner Thieves Apprehended After Chase in Irkutsk

Traffic police in Irkutsk have apprehended serial thieves of cryptocurrency mining equipment, according to the local Ministry of Internal Affairs. The latest report of stolen ASIC miners was filed on December 25, 2023, by the owner of a tire repair shop where the devices were stored. During the investigation, law enforcement identified the suspects as […]

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ForkLog 15 21.02.2024

CommEX Faces Temporary Issues with Ruble Gateway

On February 21, the cryptocurrency exchange CommEX reported encountering temporary difficulties in withdrawing rubles through its fiat channel. “Withdrawals to cards are operational, but the conversion rate is not very high,” platform representatives clarified in a comment to ForkLog. They also stated that the current situation is unrelated to the suspension of withdrawals at QIWI […]

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ForkLog 32 21.02.2024

Russian Central Bank Revokes License of Qiwi Bank Amid Cryptocurrency Exchange Transfers

Qiwi Bank’s license was revoked due to high-risk operations, specifically mentioning cryptocurrency exchanges. The closure of the payment system will not affect legitimate market players. The regulator’s statement in this case does not pertain to the crypto industry. On February 21, the Russian Central Bank revoked the license of Qiwi Bank for systematic violations of […]

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ForkLog 10 20.02.2024

Analysts Predict Digital Financial Assets Market Could Reach 500 Billion Rubles

Within three years, the digital financial assets (DFA) market could reach 500 billion rubles under a moderately optimistic development scenario, reports RBC, citing analysts from ACRA. Experts noted that their calculations are influenced by macroeconomic factors, including interest rates and indicators of macroeconomic stability. Analysts were uncertain whether certain types of tokens could become alternatives […]

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ForkLog 12 15.02.2024

Dagestan Leads in Electricity Theft by Miners

In 2023, the total volume of unaccounted electricity consumption by miners in the North Caucasus reached 22.5 million kWh, according to a report from the local branch of Rosseti. Company specialists halted 19 instances of energy theft, resulting in losses amounting to nearly 79.6 million rubles. Sixteen cases of unauthorized connections to power grids for […]

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ForkLog 13 13.02.2024

Russians Dominate Bybit Traffic in January

In January, Russian users led in visits to the cryptocurrency exchange Bybit, accounting for 23% of the traffic. This was reported by journalist Colin Wu. Russian activity was also noted on platforms MEXC (19% of total traffic), Bitget (11%), and HTX (10%). Data: Wu Blockchain. Alongside users from Russia, 10% of all HTX visits were […]

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ForkLog 17 09.02.2024

Mongolian Citizen Caught Smuggling Mining Equipment from Russia

Customs officers at the MAPC Kyakhta in Buryatia thwarted an attempt to illegally export two ASIC miners to Mongolia. This was reported by the Federal Customs Service of Russia (FCS). According to the agency, a Mongolian citizen attempted to transport two used Watsminer M21 miners, manufactured by MicroBT, in a taxi. The devices were not […]

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ForkLog 22 09.02.2024

WEX Administrator Appeals for Leniency and Asset Return

On February 8th, the Moscow City Court began reviewing the appeal of Alexey Bilyuchenko (Ivanov), the system administrator of the cryptocurrency exchange WEX, against his previous conviction. This was reported by journalist Irek Murtazin on his Telegram channel. Bilyuchenko is accused of embezzling 3.1 billion rubles of WEX assets. In September 2023, the court of […]

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ForkLog 10 07.02.2024

Illegal Cryptocurrency Miners Uncovered in Former Boiler House Near Novosibirsk

In the Novosibirsk region, police officers, in collaboration with energy specialists, have shut down an illegal mining farm comprising 100 devices. This was reported by AO “RES”. The equipment was located in a building that once served as a boiler house in the settlement of Chernorechensky, near Iskitim. In addition to the connected ASIC miners, […]

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ForkLog 13 04.02.2024

Sber Grants Private Investors Access to Digital Financial Assets

Sber has opened its digital financial assets (DFA) platform to all individuals. Those who have obtained the status of a qualified investor in relation to DFAs are already conducting initial transactions. “In the first month after launching DFAs on the digital square meter index for a limited group of investors on our platform, about a […]

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