Russia | ForkLog

ForkLog 16 14.03.2025

Russian Oil Firms Turn to Cryptocurrency for Trade with China and India

Russian oil companies are employing cryptocurrencies, including Bitcoin, Ethereum, and the stablecoin USDT, for transactions in oil exports to China and India to circumvent Western sanctions. This is reported by Reuters, citing its own sources. Digital assets simplify the conversion of Chinese yuan and Indian rupees into Russian rubles. Sources note that while the share […]

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ForkLog 45 13.03.2025

Dogecoin Ranks Among Top Cryptocurrencies for Mining in Russia

Dogecoin (DOGE) has entered the top three most popular cryptocurrencies for mining in Russia, reported Deputy Anton Gorelkin, citing data from the ROCIT. The meme coin accounts for 8.4% of mining, trailing only Bitcoin (49.4%) and Litecoin (11.1%). DOGE is popular due to its support for merged mining with “digital silver”—LTC, which makes the process […]

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ForkLog 13 13.03.2025

Bank of Russia Proposes Trial Framework for Cryptocurrency Transactions

The Bank of Russia has proposed allowing qualified individuals to trade cryptocurrencies under a three-year experimental legal framework. The project has been submitted to the government for further discussion. For individuals, this entails a high threshold: an annual income of 50 million rubles or investments in securities and deposits exceeding 100 million rubles. March 13, […]

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ForkLog 15 12.03.2025

Russian Central Bank Cancels Bitcoin-Linked Bond Issuance

The issuance of two Russian structured bonds tied to the value of the leading cryptocurrency has been postponed by decision of the Central Bank. This was reported by Kommersant. The products in question are from the companies Finam and Rumberg Capital. The planned issuance volume was set at $2.15 million and 200 million rubles, respectively. […]

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ForkLog 58 12.03.2025

Russia Emerges as Leading Traffic Source for Bybit in February

In February 2025, Russian users accounted for 29% of the total traffic to the cryptocurrency exchange Bybit, as reported by journalist Colin Wu. Other platforms popular among Russians include Deribit at 10% and KuCoin at 5%. Activity on Deribit is partly linked to the platform’s announcement of terminating services for Russian clients in compliance with […]

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ForkLog 12 11.03.2025

Garantex Pledges to Compensate Clients for Frozen Crypto Assets

The exchange Garantex has announced the commencement of negotiations with users regarding the compensation of assets frozen at the behest of Tether. This was stated in a press release provided to ForkLog. Representatives of the platform declared that “despite the unprecedented nature of the situation, the company does not shirk its obligations to its users.” […]

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ForkLog 10 08.03.2025

Garantex Exchange Addresses Tether Asset Freeze

The team at Garantex exchange invited users to their Moscow office to resolve the issue of asset freezing by Tether. “We have developed a solution for the frozen assets and invite users with a positive account balance to a personal meeting,” the official statement reads. Clients are encouraged to submit an application via a Telegram […]

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ForkLog 10 07.03.2025

US Justice Department Reports on Garantex Domain Seizure

The US Department of Justice confirmed the seizure of Garantex domains and the freezing of $26 million in the cryptocurrency exchange’s wallets. According to the press release, the trading platform facilitated money laundering by transnational criminal organizations, including terrorist groups, and violated international sanctions. Since 2019, the exchange’s digital asset turnover has amounted to at […]

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ForkLog 15 07.03.2025

Expert Analyzes Impact of Garantex Wallet Blockade

The situation surrounding the blockade of wallets of the Russian exchange Garantex by Tether is multifaceted, involving international sanctions and anti-money laundering efforts. This was explained to ForkLog by Fyodor Ivanov, Director of Analytics at Shard. Ivanov noted that American regulators accused Garantex of laundering money for the darknet marketplace Hydra and hacker groups back […]

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ForkLog 19 07.03.2025

Russian Cryptocurrency Reserve Not Yet on the Agenda, Says Deputy Gorelkin

The establishment of a strategic cryptocurrency reserve (SBR) in Russia is “not yet being discussed” at the state level, according to Deputy Anton Gorelkin. He reported this. The statement comes amid the creation of an SBR in the United States, which involves the storage of confiscated digital assets. “There is no talk yet of purchasing […]

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ForkLog 29 06.03.2025

Russian Official Labels Cryptocurrencies as ‘Sanctions Evasion Tool’

Sanctions will not entirely block Russians’ access to the cryptocurrency market, stated Deputy Anton Gorelkin. He made these remarks in response to the blocking of wallets of the Russian exchange Garantex by Tether. The latter added 89 addresses to its sanctions list. According to Gorelkin, digital assets will continue to be used as a tool […]

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ForkLog 53 06.03.2025

Garantex Halts Operations Following USDT Wallet Freeze

Tether has frozen the wallets of the Russian exchange Garantex, amounting to over 2.5 billion rubles. The platform has temporarily ceased operations and is seeking a resolution to the issue. According to the Garantex team, all USDT in Russian wallets could be at risk. 6 March 2025 | 14:30Update: Plasma founder Ilya Maksimenko suggested that […]

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