Tag: Russia

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 reappear despite international crackdowns, often using new names after earlier platforms are shut down. A report from Chainalysis found that more such platforms were appearing, although the total value flowing through them was falling. The platforms mainly serve Russian users and can connect to ...

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 ...

In early November, internet traffic to major cryptocurrency exchanges in Russia saw an 8% increase. This rise was attributed to the increasing prices of Bitcoin and changes in local regulations, according to an analysis by MegaFon, one of Russia's leading telecommunications providers. The analysis showed that users in Russia accounted ...

The Russian Ministry of Industry has suggested a two-year transition period before mandating that payments be made using the digital ruble, the central bank's digital currency(CBDC), due to concerns over the readiness of the existing infrastructure, according to Russia's state-run media outlet Izvestia. The Russian Ministry of Industry has issued ...