Russia News

Experts warn that the high investment required to join the digital ruble platform could be prohibitive for small Russian banks, as it exceeds their annual tech budgets by several times. The entry cost for Russian banks to join the Bank…

Turkey and Russia have both moved to ban the popular communication platform Discord, citing concerns over child abuse and other criminal activities.  In Turkey, authorities blocked access to Discord after a court ruling linked the platform to incidents of child…

Russia has launched a criminal case against the founders of the anonymous payment system UAPS and Cryptex just days after OFAC imposed sanctions. Russian authorities have opened a criminal probe into the founders of the anonymous payment system UAPS and…

Sanctioned crypto mining firm BitRiver suggests Russia could soon outpace the U.S. in mining due to favorable regulations. As U.S. presidential candidates increasingly highlight the importance of blockchain and crypto mining leadership, sanctioned crypto mining firm BitRiver is optimistic about…

The Bank of Russia is planning to investigate cross-border crypto transfers by residents, focusing on banking channels to assess the volume of crypto-related operations. Russia‘s central bank will conduct an investigation into cross-border crypto transactions by residents in Q4 and…

Nearly 20% of Russians have used cryptocurrency, while 66% are aware of it but lack detailed knowledge, according to a new survey. Nearly one-fifth of Russians have used cryptocurrency, while more than 65% are aware of them but lack detailed…

A man in Komsomolsk-on-Amur, a city in Russia’s Far East, has been arrested on suspicion of high treason for allegedly sending cryptocurrency to Ukraine’s military forces. According to Russia’s Federal Security Service, the crypto was intended to aid Ukraine’s purchase…

The Russian government has formed a focus group to trial crypto payments for foreign trade, focusing on importers of goods with potential military applications. Russia has established a focus group under an experimental legal regime to explore the use of…

Blockchain analysts warn that the Russian government may use crypto exchanges like Garantex for sanctions evasion under the new legislation. The Russian government is likely to rely on domestic crypto exchanges like Garantex for sanctions evasion as it adapts to…

Sberbank, Russia’s largest lender, aims to begin offering digital ruble transactions to its customers in early 2025, according to a senior bank executive. Russia‘s banking giant Sberbank plans to start operations with the country’s central bank digital currency — also…

Ukrainian fraudsters posing as police officers have extorted $250,000 in USDT from a businessman through a scam involving fabricated criminal charges. Criminals impersonating police officers extorted $250,000 in stablecoin from a Ukrainian in a scam that involved threats of fabricated…

Russia is said to begin trials of crypto exchanges and token transactions for cross-border payments to mitigate the impact of international sanctions. Russia appears to be days from starting trials of crypto exchanges and token transactions for cross-border deals in…

The Bank of Russia appears to be moving forward with plans to test cross-border crypto deals for qualified investors. Russia‘s central bank, the Bank of Russia, is considering amending the law to introduce a new category of “particularly qualified investors,”…

Authorities in Argentina arrested a Russian national for laundering millions in crypto tied to North Korea’s Lazarus Group. Argentinian authorities have arrested a 29-year-old Russian national for money laundering, uncovering a multimillion-dollar operation based in the country. Per a report…

Russia is set to launch two new crypto exchanges, one in St. Petersburg and another in Moscow, with a focus on stablecoin development. As sanctions continue to impact Russia‘s financial sector, the country is now planning to establish at least…

Russia’s largest search website, Yandex, has updated its advertisement policy, banning ads for crypto exchanges, smart contracts, mining activities, and ICOs. Russia‘s most prominent search site, Yandex, has updated its advertising policies to ban ads related to crypto services within…