Head of Russia's Second Largest Bank Compares Crypto Mining to Counterfeiting

Andrey Kostin — the head of VTB, Russia’s second-largest bank — has compared cryptocurrency mining with counterfeiting, major Russian news agency TASS reports Monday, Feb. 4. While speaking to students who participated in an educational contest organized by major Russian tech corporation Yandex, Kostin said: “I am not a big […]

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Crypto Mining Could Bring Russia $1B in Taxes, Report Suggests

Using its excess energy generating capacity to mine cryptocurrencies, Russia can increase its budget receipts by more than $1 billion dollars in annual tax revenue. The estimate comes from a report that also calls for the establishment of a Russian crypto valley.   Also read: Defying Crypto Winter, Swiss Crypto […]

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Iran May Unveil State-Backed Cryptocurrency This Week

Iran is reportedly expected to announce its state-backed digital currency at the annual Electronic Banking and Payment Systems Conference which starts on January 29th. The move is an attempt to bypass US-imposed economic sanctions.  Iran-Backed Cryptocurrency Iran first announced its intentions to launch a state-backed digital currency in the summer […]

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No Reason to 'Bury' Cryptocurrencies, Russian PM Medvedev Says

Last year’s falling prices are not a good enough reason to “bury” cryptocurrencies, Russian Prime Minister Dmitry Medvedev said during a high-level economic conference. He believes Russia should carefully follow the developments around digital coins.   Also read: Clickbait Media Uses Bitcoin and Russia to Pump Headlines Again Russia Should […]

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Cryptocurrency Exchanges Eye Russia for Expansion Despite Sanctions

Sanctions imposed by governments as part of geopolitical struggles do not always filter through to under-regulated industries. Ambitious businesses covet every opportunity for expansion and diversification. That seems to be the reason why a growing number of crypto exchanges are turning their attention to Russia and its diaspora, despite the […]

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Still no Access for Thousands of Binance Users Controversially Cut Off by the Exchange

Binance, the world’s second largest digital asset exchange by traded volume, has withdrawn its services from countries targeted by U.S. economic sanctions, in line with its controversial revised terms of use. However, the ban affects entire populations in countries such as Zimbabwe, where U.S. restrictions are supposed to specifically target […]

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No Significant Changes Were Foreseen To Upcoming Crypto Legislation – Russia’s Deputy Prime Minister

Maxim Akimov, Russia’s Deputy Prime Minister for Transport, Communications and Digital Economy, said that the government is not planning to make any changes to the country’s upcoming crypto regulation. In May of this year, the Russian parliament approved the first reading of new laws regulating the crypto industry. The draft […]

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