Materials by tag Russia

The Russian Ministry of Finance discusses the possibility of allowing the buying and selling of bitcoin and other major types of cryptocurrency. The legislators and the finance ministry are preparing to draft a law on the circulation of digital currency in the country, and the idea of ​​accepting their trading is under a serious discussion, however, the final conclusion on this matter has not yet been reached, according to Deputy Finance Minister Alexei Moiseyev.

On June 6-7, the capital of Russia will host Russian Gaming Week by Smile-Expo: an exhibition-forum dedicated to gambling business in Russia and abroad.  

The main political opponent to Vladimir Putin, Alexei Navalny, has received donations of around 591 Bitcoin (approx. $3 million) since 2016. The Russian opposition leader has managed to raise weighty funding in cryptocurrencies for his political campaigns.

The State Duma, the lower house of the Federal Assembly of Russia is a very powerful institution, with the right to approve bills and laws. One of its members has claimed that bitcoin must be prohibited all over the world.

Russia’s version of Facebook, VKontakte (VK), is considering making its own cryptocurrency. Currently, the project is underway, though the final conclusion has not yet been reached. VK claims it has got more than 97 million lively monthly users.

Russia’s Central Bank plans to put a yearly limit on so-called “unqualified investors” who are willing and able to buy cryptocurrency, as reported by RBC – a local business news outlet. The bank wants to impose new regulations on digital currency.

The leading financial services corporation Visa ordered Russian banks to provide an opportunity to withdraw cash at store cash desks using cards by April. Russian Standard Bank, Raiffeisenbank, and Promsvyazbank will become the first banking institutions to join the initiative.

To find a way to outplay sanctions and enhance adoption of digital currency, Russia’s authorities are considering a new draft law which will allow certain businesses and entities to perform payments with the help of cryptos such as Bitcoin and Ethereum.

The deputy governor of the central bank of Russia, Sergei Shvetsov, revealed that his financial institution will underprop endeavours to block and stop access to external websites trading cryptoassets in Russia.