According to a local newspaper, the Russian Ministry of Energy, the Ministry of Digital Development, and the Federal Tax Service have compiled a “registry” that has been sent to regions with increased mining activity. An official of the Finance Ministry, Ivan Chebeskov, stated that despite certain laws being adopted, only 30% of miners had signed […]
Bankrupt crypto exchange FTX is asking the court to greenlight a plan that could potentially deny billions in creditor repayments to users in 49 countries where crypto faces legal restrictions. This could disproportionately impact Chinese users, who reportedly represent 82% of the affected claim value. Navigating Legal Minefields in Restricted Jurisdictions The FTX proposal, detailed […]
Russia’s Central Bank has approved the trading of financial instruments tied to crypto prices for qualified individuals. However, these instruments must be non-deliverable, meaning investors won’t be able to hold the digital assets; instead, they will only receive payouts based on price movements. Strict Risk Controls In a May 28 press release, the central bank […]
Russian national Alexander Vinnik, previously convicted for running a multi-billion-dollar money-laundering operation through his BTC-e crypto exchange, has been released in a prisoner exchange between Russia and the United States. In return, Moscow freed American schoolteacher Marc Fogel, who had been detained on drug charges. Vinnik’s Role in BTC-e and Legal Troubles Vinnik operated the […]
Deribit has officially announced its departure from the Russian market due to sanctions imposed by the European Union. The crypto exchange, which operates under Dutch regulations, stated that it can no longer offer services to Russian nationals and residents unless they meet specific conditions. These exceptions include Russian citizens who also hold citizenship in an […]
Rosseti Group – Russia’s leading electric grid operator – has announced its interest in becoming an operator for hosting mining infrastructure. The company told TASS that this initiative focuses on utilizing underloaded power supply centers, improving capacity utilization, and fostering economic growth. Rosseti Targets Crypto Mining to Use Idle Power According to the report, Rosseti’s […]
A Russian national has been handed a prison sentence for utilizing cryptocurrency to aid the Ukrainian Armed Forces financially. This marks the first publicly known case in Russia of using digital currency to fund a military group. Crypto-Funding to Ukrainian Army A resident of the Mirninsky District in Yakutia has been sentenced to seven years […]
Governments and central banks, from the United States to Switzerland, are giving Bitcoin serious consideration as an alternative to traditional reserve assets, with the Czech Republic being one of the latest to signal interest. The governor of the Czech National Bank (ČNB), Aleš Michl, has floated Bitcoin as a potential diversification strategy for the country’s […]
The incoming second Donald Trump administration has extensive plans to cement US leadership in developing blockchain cryptocurrencies and delivering their products to markets. Meanwhile, Russia is using Bitcoin to conduct commerce outside the traditional finance channels in the face of international sanctions. While these developments certainly bear strategic adversarial overtones, the way Bitcoin changes the […]
Bitcoin is becoming a critical asset in geopolitics, with several countries competing to build national reserves which will potentially reshape their financial sovereignty. While the global push for Bitcoin grows, skeptics are becoming advocates, Japan remains hesitant to join the trend. Japan Cautious About Bitcoin Reserves According to a report by local news outlet CoinJP, […]