Rosbank Tests Crypto Payments for International Transactions
Rosbank, one of Russia’s leading banks, has launched a pilot project for cross-border payments using cryptocurrencies, marking a significant step towards adopting digital currencies. The bank claims to be the first among systemically important banks to offer such services to facilitate secure and efficient international transactions. To make cryptocurrency payments, companies or individuals must enter […]
IRS and Chainalysis Join Ukraine in Fight Against Crypto Sanctions
The U.S. Internal Revenue Service and crypto investigations firm Chainalysis are collaborating with Ukraine to identify Russian oligarchs who may be using cryptocurrencies to evade sanctions amid the ongoing conflict. According to a Thursday announcement, the U.S. Internal Revenue Service (IRS) and Chainalysis have joined forces with Ukraine to target Russian oligarchs who may be […]
Russia Claims Second Spot in Largest Bitcoin Mining Hub After US
According to recent reports, Russia is now the second-largest country in the world for Bitcoin and cryptocurrency mining, with the United States continuing to hold the top spot. According to Kommersant, BitRiver, a company that provides colocation services for cryptocurrency mining operations, reported that the Russian Federation achieved a new milestone in the first quarter […]
Russia unveils mutual Fund for financing Crypto mining operations
A Russian business has revealed a new fund that will be used to subsidize cryptocurrency mining operations in the country. Finam management, a Russian investment management company, has introduced a new fund designed to finance cryptocurrency mining operations in the nation, according to Kommersant. Only approved investors with a minimum investment of 300,00 rubles (about […]
Russian government to launch crypto mining facility in East Siberia
The new crypto-mining facility in East Siberia will possess 30,000 crypto-mining machines, hire 100 workers, consume 100 megawatts of electricity and be operated by Russia’s BitRiver mining company. In recent months, there have been moratoria placed on the cryptocurrency mining sector in several regions of the US and Canada. Russia now offers tax breaks to […]