Russia wants to replace US dollar reserves with digital assets on a long term basis
Last week, Russian President Vladimir Putin said that using cryptocurrencies to settle oil contracts was “a bit early.” Russia’s Ministry of Foreign Affairs (MFA Russia) is apparently considering replacing the US dollar with not just traditional fiat currencies but also digital currencies as part of its de-dollarization campaign. In a Tuesday interview with local news agency […]
Russian Ministry of Energy considers new energy tariffs for crypto miners
The Russian Ministry of Energy is considering introducing a special electricity tariff for bitcoin miners, following an influx of business into the country as a result of China’s crackdown. According to local news outlet RBC, Russian Energy Minister Nikolai Shulginov revealed on Wednesday that the authority is working on a new framework to separate prices […]
Crypto Ban: Russia has no plans to follow in China’s lead by banning crypto outright
According to an Oct. 12 report from local news agency Interfax, Alexey Moiseev, the deputy finance minister of the Russian Federation said that Russia is not out to ban crypto like China. As part of a legislation that went into effect in January, Russia continues to impose a prohibition on cryptocurrency payments; nevertheless, the nation […]
Ex chief of Russia’s Wex crypto exchange apprehended in Poland
The exchange was previously known as BTC-e, but its name was changed to WEX in 2017 because it encountered legal complications. Dmitry Vasiliev, the former CEO of the Russian cryptocurrency exchange Wex , has been detained in Warsaw, Poland, according to reports from the BBC Russian service. Back in the early days of the cryptocurrency […]
Crypto crackdown in Russia does not pose a problem to data centre operators
Following Russia’s crypto crackdown, the country’s largest data centre operators aren’t really worried. According to the CEO of BitRiver, a new crypto crackdown by the Bank of Russia is unlikely to damage the company. The Russian central bank stated on Wednesday that it has begun collaborating with local banks to slow payments to cryptocurrency exchanges. […]