Latest News and Articles about Russia
Russian Crypto Mining Giants BitRiver and Intelion Hit $200M Revenue in FY2024
Russian Crypto Mining Giants BitRiver and Intelion Report $200M Revenue in FY2024 In the heart of Russia, BitRiver and Intelion have showcased the robust growth of the crypto mining sector, amassing a combined revenue of $200 million in Fiscal Year 2024. Dominating over 50% of the market, these industry leaders underscore the potential of decentralized […]
Read MoreRussia’s New Bill Targets Crypto Crime: Bitcoin Classified as Property for Seizure
Russia’s New Crypto Bill: Classifying Bitcoin as Property Russia is taking decisive action against crypto-related crime with a new bill from the Ministry of Justice. The bill classifies digital currencies like Bitcoin as property, enabling the seizure and confiscation of these assets during criminal proceedings. This move aims to disrupt the activities of criminals who […]
Read MoreRussia’s Kraken Dominates Darknet: 68% Surge Amid Global Crypto Decline
Russia’s Kraken Surges 68% Amid Global Darknet Crypto Downturn In 2024, global darknet cryptocurrency sales saw a 15% decline due to heightened law enforcement efforts, but Russia’s darknet market, Kraken, bucked the trend with a 68% increase in crypto transactions, amassing $737 million. This surge positioned Kraken as the leading darknet market by annual revenue […]
Read MoreBlum Co-Founder Arrested in Russia on $15M Fraud Charges, Shaking Crypto Scene
Russian Authorities Detain Blum Co-Founder on Fraud Charges In a shocking turn of events, Vladimir Smerkis, a former Binance executive and co-founder of the Blum tap-to-earn app, was detained on fraud charges, shaking the foundations of the Blum project. Former Binance executive arrested in Russia Charges stem from alleged fraud at The Token Fund and […]
Read MoreRussian Lawmaker Predicts Bitcoin Surge Due to India-Pakistan Tensions
Top Russian Lawmaker: India-Pakistan Tensions Will Drive up Bitcoin Prices Anatoly Aksakov, a prominent Russian lawmaker and Chairman of the State Duma’s Committee on the Financial Markets, has predicted that escalating tensions between India and Pakistan will lead to a surge in Bitcoin prices. India-Pakistan tensions to boost Bitcoin prices Bitcoin used in international weapon […]
Read MoreRussia Launches State-Controlled Crypto Exchange for Elite Investors
Russia’s Crypto Leap: A State-Controlled Exchange for the Elite Russia is taking a significant step into the cryptocurrency world with plans to launch a state-controlled exchange exclusively for high-net-worth investors. This move, under an experimental legal framework, marks a shift in policy but also raises questions about the broader adoption of digital assets in the […]
Read MoreRussia Expands Crypto Mining Bans: Energy Concerns Drive New Restrictions
Russia Tightens Crypto Mining Stranglehold: What’s Driving the Latest Bans? Russia’s Ministry of Energy is set to extend crypto mining bans to three more regions amidst growing concerns over energy consumption and grid stability. New bans considered for Karelia, Penza Oblast, and parts of Khakassia Existing restrictions in Dagestan, Irkutsk, and Krasnoyarsk Energy Minister prioritizes […]
Read MoreRussia’s Moscow Exchange Set to Test Cryptocurrency Trading
Russia’s Bold Leap into Crypto: Moscow Exchange to Test Digital Asset Trading Russia’s Ministry of Finance has announced a groundbreaking move to test cryptocurrency trading on the
Read MoreRussia Bypasses Sanctions with BTC, ETH, USDT in Oil Trade with India, China
Russia’s Strategic Pivot: Using Bitcoin, Ethereum, and USDT to Bypass Western Sanctions in Oil Trade Amidst escalating geopolitical tensions, Russia is increasingly using cryptocurrencies like Bitcoin (BTC), Ethereum (ETH), and USDT to trade oil with India and China, sidestepping Western sanctions and showcasing the disruptive potential of decentralized finance. Russia uses BTC, ETH, and USDT […]
Read MoreEU Targets Garantex: Escalating Sanctions in Crypto-Financial Warfare with Russia
EU Sanctions Russian Crypto Exchange Garantex: A New Front in Financial Warfare The European Union has escalated its financial sanctions against Russia by targeting Garantex, a Russian cryptocurrency exchange, marking a significant move in the ongoing geopolitical chess game. EU sanctions Garantex over its links to sanctioned Russian banks. Garantex claims operational resilience despite new […]
Read MoreRussia’s Power Grid Suffers $14.2M Loss from Illegal Crypto Mining, Eyes Legal Operations
Russia’s Power Grid Loses Over 1.3 Billion Rubles to Unauthorized Crypto Mining Russia’s power grid operator, Rosseti Group, has reported staggering financial losses of over 1.3 billion rubles ($14.2 million) in 2024 due to unauthorized “black” mining operations. These illicit activities have wreaked havoc on the grid, but Rosseti is now pivoting towards legal mining […]
Read MoreCrypto Sanctions Evasion Hits $15.8 Billion in 2024: Iran, Russia Lead
Crypto and Sanctions: $15.8 Billion Used to Circumvent Restrictions in 2024 In 2024, the use of cryptocurrencies to bypass international sanctions has surged to an astonishing $15.8 billion, showcasing the dual nature of decentralized finance. This trend not only highlights the innovative potential of digital currencies but also brings to light significant challenges to global […]
Read MoreRussia’s Bitcoin Mining Surges 7% in 2024 Despite Energy and Regulatory Hurdles
Russia’s Bitcoin Mining Sector Grows 7% in 2024 Amid Regulatory Challenges and Energy Issues Russia’s Bitcoin miners are not just mining for gold; they’re consuming enough power to light up a small country. In 2024, the sector has seen a 7% increase in mining farms, totaling 136,600 units, but this expansion comes with its own […]
Read MoreBestChange Unblocked in Russia After Brief Ban: Navigating Crypto Regulatory Challenges
Russian Crypto Aggregator BestChange Unblocked After Brief Ban, Highlighting Regulatory Tightrope On February 10th, the Russian crypto exchange data aggregator BestChange was abruptly blocked by the federal communications watchdog Roskomnadzor, only to have its website restored on February 20th. BestChange, a service known for providing users with comprehensive exchange rate data and comparison tools for […]
Read MoreRussia and Iran Use Crypto to Bypass Sanctions Amid Economic Isolation
Russia and Iran Leverage Crypto to Navigate Western Sanctions In 2024, Russia and Iran increasingly utilized cryptocurrencies to sidestep Western sanctions, highlighting the adaptability of these nations amid economic isolation. A Chainalysis report revealed that sanctioned entities received $15.8 billion in crypto, representing 39% of illicit transactions, showcasing both the power and the peril of […]
Read MoreRussia Proposes Bitcoin as Property: New Crypto Laws Target Digital Crime
Russia’s Investigative Committee Proposes New Crypto Legislation: Bitcoin as Property Russia’s digital crime rate has surged by 10% in 2024, prompting new legislative measures to tackle crypto-related offenses. The country’s Investigative Committee, led by Alexander Bastrykin, has proposed classifying Bitcoin and other digital assets as property. This move aims to streamline legal processes, especially in […]
Read MoreRussia’s 2025 Crypto Tax Laws: A New Era for Bitcoin and Mining
Russia’s 2025 Crypto Tax Laws: Navigating the New Frontier Russia is set to implement new cryptocurrency regulations in 2025, aiming to bring clarity and structure to its burgeoning crypto market amidst economic challenges and U.S. sanctions. New tax laws effective January 1, 2025. Cryptocurrencies recognized as property. Mining operations exempt from Value Added Tax (VAT). […]
Read MoreRosseti Boosts Bitcoin Mining with Idle Energy, Amid Russia’s Crypto Surge
Russia’s Largest Power Company, Rosseti, Turns Idle Energy into Bitcoin Profits Russia’s largest government-supported power company, Rosseti, has announced a strategic move to support Bitcoin mining by utilizing unused power stations, aiming to maximize unused energy capacity, generate additional revenue, and boost regional economic development through tax contributions. This initiative comes amidst a wave of […]
Read MoreRussia’s Crypto Mining Surge: New Laws Triple Hardware Sales in Q4 2024
Russia’s Crypto Mining Boom: Hardware Sales Surge Amid New Laws and Global Interest Ever wondered how Russia’s new crypto laws are reshaping the global mining landscape? Well, hold onto your hats because crypto mining hardware sales in Russia have just tripled in Q4 2024. A new law effective from November 1, 2024, now allows legal […]
Read MoreRussia Seizes $10M in Bitcoin Amid Massive Bribery Scandal: Crypto’s Dual-Edged Sword
Russia Seizes $10M in Bitcoin: Unveiling the Largest Bribery Scandal and Its Crypto Implications Russian authorities have confiscated 103 Bitcoin, valued at approximately $10 million, from Marat Tambiev, a former official of the Investigative Committee of the Russian Federation (ICRF). This seizure marks a significant development in Russia’s largest bribery scandal, where Tambiev received a […]
Read MoreRussia Sells $10M of Seized Bitcoin Amid Legal Battles and Bribery Trends
Moscow Bitcoin Selloff: Russia Begins to Sell Coins Seized in BTC 1,032 Infraud Haul Russia has embarked on the sale of Bitcoin confiscated from Marat Tambiev, a former investigator convicted in a major bribery scandal involving the Infraud hacker group. The initial sale of nearly $10 million in Bitcoin marks the start of liquidating assets […]
Read MoreRussia Embraces Bitcoin for Trade Amid Sanctions: A Strategic Crypto Thaw
Russia’s Crypto Thaw: Embracing Bitcoin for International Trade Amid Sanctions Russia’s relationship with cryptocurrencies is undergoing a significant shift, moving from stringent regulations to a more permissive stance. This “Crypto Thaw” is driven by Western sanctions and a strategic push for de-dollarization (reducing reliance on the U.S. dollar in international transactions), with President Putin legalizing […]
Read MoreRussia Mandates Digital Ruble Use Starting July 2025: Banks and Merchants Required
Russia’s State Duma Pushes Forward with Digital Ruble Mandate Russia’s State Duma has introduced a new bill that mandates the use of the digital ruble, the country’s central bank digital currency (CBDC), starting from July 1, 2025. Russia’s CBDC, the digital ruble, becomes mandatory for banks and merchants. Implementation begins July 1, 2025, expanding to […]
Read MoreSiberian Power Company Fined $3,120 for Illegal Crypto Mining on Own Property
Crypto Miner-hunting Siberian Power Provider Finds Illegal Farm on Its Own Property A Siberian power provider in Irkutsk discovered an illegal crypto mining operation on its own property, shedding light on the ongoing battle against unauthorized mining in Russia. Illegal mining farm discovered on power company’s property in Irkutsk Power company fined and faces legal […]
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