Financial Industry News
Gazpromneft, the oil subsidiary of Russia’s natural gas giant Gazprom, is getting into a different kind of exploration. The company opened a venue for cryptocurrency mining on one of its oil drilling sites in Siberia, unlocking the power of Russia’s oil and gas resources for the needs of bitcoin mining. Gazprom, a company that counts […]
Continue ReadingThe Bank of Russia doesn’t believe a digital ruble will hurt its banks. Earlier this month, Russian banks warned the Bank of Russia that the digital ruble under discussion might weaken them if people pull their funds to rush into the new system. Introducing the digital ruble into Russia’s financial system might cost the country’s […]
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Continue ReadingRussian President Vladimir Putin has signed an order obliging public officials to report any cryptocurrency holdings. According to the document, signed on Thursday, both current civil servants and people about to assume a government position must disclose which digital assets they own, as well as in what quantity and where they were purchased from. The […]
Continue ReadingRussian cryptocurrency and blockchain association (RAKIB) warned the country’s central bank against making its future CBDC too centralized. RAKIB sent a letter to the Bank of Russia Chairwoman Elvira Nabiullina saying that the potential design for digital ruble that the regulator seems to favor, will return the Russian economy to the Soviet model, when all […]
Continue ReadingThe deputy chairwoman of the Bank of Russia, Olga Skorobogatova, met with representatives of several major banks Thursday, seeking early feedback on the concept of a digital ruble. According to Russian newspaper Kommersant, the bankers were chiefly concerned over how centralized the digital currency system, currently under consideration, might be if launched. The event included […]
Continue ReadingMikhail Mishustin, the Russian prime minister, raised the subject of cryptocurrencies and the need to protect users during the government session on Thursday, according to a transcript. Acknowledging the growing interest in this “relatively new tool,” Mishustin said the government plans to lead the cryptocurrency market’s development in a “civilized direction” so users can better […]
Continue ReadingA poorly organized cryptocurrency mining farm has caused a fire in an apartment in St. Petersburg, Russia, and injured the operator, according to a 78.ru report citing the Ministry of Emergencies. The resident of the seven-bedroom apartment had apparently failed to set up sufficient cooling for his equipment, and was hospitalized due to severe burns […]
Continue ReadingRussia’s Ministry of Finance has proposed new amendments to the country’s coming law on crypto assets that could soften the requirements for cryptocurrency taxpayers, news agency RBK reported Thursday. According a package of draft bills, individuals must report their holdings if annual transactions exceed 600,000 Russian rubles (about $7,800). In a previous proposal, the ministry […]
Continue ReadingEn+, one of the largest aluminium and power producers in the world, is venturing into crypto mining. En+ decided to enter the crypto space after some experimentation in the field, the firm’s chief financial officer, Mikhail Khardikov, told CoinDesk via a spokesperson. Three years ago the company got mining firm BitRiver as a client, selling […]
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