Russia has passed a new cryptocurrency law that, while not as strict as the previous prohibition, places strict restrictions on the use of cryptocurrencies as a form of cash. Denis Manturov, Russia’s Industry and Trade Minister, said on Thursday that the government and central bank will “sooner or later” legalize cryptocurrencies as a means of
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According to the crypto page of the Russian business news portal RBC, some Coinbase users in Russia have received letters alerting them that their accounts will be suspended on May 31. According to the magazine, the corporation proposed that these customers remove their funds unless they present documentation proving that they are not subject to
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The Federal Antimonopoly Service (FAS) of Russia has devised a system to charge amateur crypto miners higher electricity costs. The organization claims that their strategy to addressing the problem of rising home consumption, which is attributable in part to the growing popularity of mining, can lower the pressure on electrical networks. According to an article
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According to Bloomberg, Binance, the world’s largest cryptocurrency exchange, has blocked many accounts tied to relatives of Russian President Vladimir Putin’s administration officials. As a result of Russia’s military assault on neighboring Ukraine, sanctions are continuing to fall on the country. Polina Kovaleva, the stepdaughter of Foreign Minister Sergei Lavrov, and Elizaveta Peskova, the daughter
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Also, Ethereum co-founder Vitalik Buterin has spoken out against the widespread application of sanctions against Russians. Furthermore, On Twitter, the developer expressed his thoughts. More so, The Netherlands recently announced that all Russian visa applications would be suspended. Also, These visas were only valid for a few days. After the embassy’s whole visa section was
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According to the approved Financial Market Development Strategy of the Ministry of Finance, the full launch of the digital ruble. So, Russia’s central bank digital currency (CBDC), should take place before 2030. The Central Bank of Russia (CBR), on the other hand, aims to start testing it in settlements as early as 2023. That’s, according
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