Anton Tkachev, a State Duma deputy from the New People party, sent an official proposal to Finance Minister Anton Siluanov, urging the government to consider Bitcoin an alternative reserve asset. In his appeal, Tkachev argued that traditional currency reserves, including the dollar, euro, and yuan, face risks like inflation, sanctions,
While the digital assets sector is still wading through positive waves, another tide has arrived in the form of Russian regulations. After several years of combating unsteady and obscure regulations, the crypto industry is finally seen in a new light. Following the US elections and bullish cycle, the global economy
On November 27, 2024, Russia’s Federation Council approved a crucial bill outlining the taxation framework for digital currencies. The legislation follows approval from the State Duma, the lower house of parliament, the day before. With President Vladimir Putin’s expected signature, the bill will soon become law, officially establishing new rules
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
