Tag: Russia

In response to recent sanctions and wallet freezes linked to the crypto exchange Garantex, Russian finance officials are considering the development of a national stablecoin to safeguard the country’s financial infrastructure from foreign interference. According to reports on by Reuters and Russian state news outlet TASS, Osman Kabaloev, deputy director ...

A prominent Russian economist has suggested that Moscow’s cryptocurrency adoption may have significantly stabilized the ruble in recent months. This claim was made by Professor Oleg Vyugin from the National Research University Higher School of Economics (HSE), according to a report by Russian news outlet RIA Novosti. Vyugin, who has ...

The launch of Russia's digital ruble has been postponed to mid-2026 as the Central Bank continues to address technical and regulatory challenges in collaboration with major financial institutions. Initially set for July 1, 2025, the delay was confirmed by Central Bank Chairperson Elvira Nabiullina, who did not provide a specific ...

Hackers reportedly infiltrate smart home devices across Russia, turning them into botnets to mine cryptocurrency and launch distributed denial-of-service (DDoS) attacks. According to a March 24 report from Russia’s state-controlled news agency TASS, cybercriminals exploit security flaws in connected home systems, with potential implications beyond financial crime. Authorities warn that ...

Garantex, a Russian crypto exchange sanctioned by the U.S. and the European Union, appears to have rebranded and resumed operations under a new name—Grinex. A recent report by Swiss blockchain analytics firm Global Ledger claims that Garantex secretly transferred its liquidity, user balances, and infrastructure to the newly established platform. ...

The rollout of the digital ruble is facing significant challenges, as approximately 30% of Russian banks reportedly remain unprepared due to outdated infrastructure and resistance to the country’s Central Bank Digital Currency (CBDC) initiative, the Digital Ruble.  A recent survey conducted by tech firms Flant and Diasoft, as reported by ...

Russian oil companies are increasingly using cryptocurrencies to bypass Western sanctions and facilitate transactions with China and India, according to Reuters. Some firms are reportedly using Bitcoin (BTC), Ethereum (ETH), and stablecoins like Tether (USDT) to convert Chinese yuan and Indian rupees into Russian rubles. While still a small portion ...

Russia’s Ministry of Finance is advancing plans to regulate the cryptocurrency market by establishing a legal framework and national infrastructure. Deputy Finance Minister Ivan Chebeskov confirmed this initiative through a statement to TASS, highlighting the ministry's commitment to fully legalizing and regulating digital currencies. To achieve this, the Ministry of ...

Garantex, Russia’s largest sanctioned cryptocurrency exchange, has temporarily shut down all services following a major freeze on its assets by Tether. The stablecoin issuer blocked over 2.5 billion rubles ($27 million) worth of USDT, sparking immediate disruption for the exchange and its users. In a statement on Telegram on March ...

Russia is considering launching an experimental cryptocurrency trading platform for “super-qualified” investors as a way of providing a controlled framework for digital asset transactions. According to state news agency Interfax, Aleksey Yakovlev, head of the Ministry of Finance’s financial policy department, confirmed that discussions are underway to establish the initiative. ...