Bank of Russia Fields Banking Industry Concerns Over Digital Ruble Proposal

The 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 […]

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Russian Prime Minister Pledges to ‘Civilize’ Crypto Market and Prevent Scams

Mikhail 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 […]

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Russian Ministry Moves to Soften Requirements for Crypto Tax Reporting

Russia’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 […]

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Russian Hydropower Giant Opens Bitcoin Mining Farm

En+, 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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