Using the country’s Finance Ministry as a source, Russian news agency Interfax reported on Monday that the Russian government has authorized draft modifications to a law regarding the taxation of cryptocurrency transactions and mining. According to the report, cryptocurrency would be considered property for tax reasons under the proposed law.
Russia is preparing to trial cryptocurrency payments for imports linked to military and civilian applications. This initiative, part of the country’s broader effort to bypass international sanctions, involves key stakeholders from government agencies and businesses. According to reports from Vedomosti, the Russian Chamber of Commerce and Industry, the Association of
The Moscow Exchange (MOEX), Russia’s largest exchange group, has chosen not to participate in a pilot cryptocurrency trading program. Even though the recent legislation allows digital currencies under the supervision of the Central Bank of Russia. This decision was confirmed by Nikolai Trunichkin, MOEX’s head of digital projects. While MOEX
Russian authorities have confiscated 238 mining rigs from a community that is said to be entirely focused on gardening. The Irkutsk region in Southeastern Siberia has become the unofficial capital of the Russian Bitcoin mining sector, where illegal crypto mining continues. This is due to its famously low energy rates,
The Telegram platform has garnered attention from the community, with the arrest of co-founder Pavel Durov. The arrest occurred on Saturday when he arrived in France for allegations related to Telegram’s moderation activities. Several leading community members have expressed their concerns regarding the issue. Notably, the messaging platform made an
Russia is planning to launch two new cryptocurrency exchanges to bolster its foreign trade (FT) activities. The exchanges will be established in Moscow and St. Petersburg, aiming to create secure platforms for cryptocurrency transactions aligned with international trade practices. In St. Petersburg, the new exchange will be based on the
A law to legitimize Bitcoin mining has reportedly been passed by Russia’s Duma. This measure, which was approved on the first reading, lays the groundwork for a digital currency mining sector that is regulated. A major change in the country’s stance toward cryptocurrencies is marked by the measure. Which seeks
Binance, the world’s leading cryptocurrency exchange, has recently announced its decision to exit the Russian market by selling its assets to a day-old exchange called CommEX. CommEX was launched on September 26 and it has already introduced BTC/USDT and ETH/USDT trading pairs for spot trading, demonstrating its ambition to quickly
The Bank of Russia (BoR) has unveiled the official logo for the CBDC initiative it has been developing in Russia. Commission fee rates have also been released by the central bank, and they are expected to rise above zero in 2025. The Bank of Russia (BoR) unveiled the official identity
The legislation governing the digital ruble has been approved and will go into effect on August 1, 2023, with the exception of one restriction. Article 3 is scheduled to go into effect in Russia in August 2024. Moreover, it amends various federal laws, notably those pertaining to bankruptcy and inheritance.
