Tag: Russia

The Bank of Russia has postponed the mass rollout of its central bank digital currency (CBDC), the digital ruble, as authorities work to refine the pilot program and ensure a robust economic framework for banks and their customers. According to a state-backed news agency TASS report, the central bank initially ...

The European Union has introduced a new round of sanctions targeting financial networks that support Moscow, adding Russian cryptocurrency exchange Garantex to its blacklist. This marks the first time the EU has sanctioned a Russian-based crypto exchange, signalling a broader crackdown on entities allegedly aiding the country’s war efforts. According ...

Russia's Bitcoin mining industry witnessed substantial expansion in 2024, with mining farms increasing by 7% to 136,600 nationwide, according to a report by the Russian newspaper Kommersant. Kommersant, citing data from MTS EnergyTool, stated that the country's total mining capacity exceeded 11 GW by January 2025. The geographical distribution of ...

Russian-language no-KYC crypto exchanges continue to re-emerge despite crackdowns, often as rebranded versions of previously shut-down platforms. A report from blockchain forensic firm Chainalysis, dated February 19, notes that while new platforms keep appearing, the overall inflows have declined, suggesting that U.S. and international sanctions are effective. These newly reopened ...

Illegal cryptocurrency mining operations have cost Russia’s power grid operator, Rosseti, more than 1.3 billion rubles in 2024, as unauthorized connections continue to drain the country’s electricity supply. The company reported that it had uncovered and halted 130 cases of illegal power consumption, with authorities launching over 40 criminal investigations ...

A man from Yakutia, Russia, has been sentenced to seven years in prison for allegedly funding the Ukrainian Armed Forces (AFU) through cryptocurrency transfers. According to Russian media outlet Izvestia, the individual, whose identity remains undisclosed, is a resident of the Sakha Republic and employed at a diamond mining company. ...

Three Russian nationals, Roman Vitalyevich Ostapenko, Alexander Evgenievich Oleynik, and Anton Vyachlavovich Tarasov, have been charged by a U.S. federal grand jury for their roles in running cryptocurrency mixing services Blender.io and Sinbad.io. These platforms allegedly facilitated money laundering for cybercriminals, including ransomware attackers and hackers linked to state-sponsored groups. ...

The Russian government has approved a sweeping ban on cryptocurrency mining in ten regions, effective January 1, 2025, through March 15, 2031. The decision, reported by the State-owned news outlet TASS on December 24, addresses local electricity shortages and aims to align mining activities with evolving regulations. The ban targets ...

Russia has joined the growing list of nations considering Bitcoin as a strategic reserve asset. Anton Tkachev, a member of the Russian State Legislative Chamber, Duma, from the New People party, has formally proposed that the finance ministry incorporate Bitcoin into the country's treasury reserves. Local media outlet RIA Novosti ...

Bitcoin’s rise past the $100,000 mark has generated considerable excitement, but Russian investors remain sceptical about its potential to hit $200,000 this cycle. Analysts consulted by Russia’s state news agency TASS predict that Bitcoin could peak at $160,000 but believe a price doubling in the near term is unlikely. The ...