Russia News

The remarks came at a time when the country's crypto regulatory framework remains underdeveloped.

Bitcoin was the most popular cryptocurrency in Russia in October, outpacing coins such as Tether and Litecoin.

Though Russia has become a global leader in the crypto market, the Bank of Russia is still skeptical about Bitcoin.

The Russian State Duma approved a bill on crypto taxation in early 2021, but the bill has yet to move any further.

Russia’s digital ruble won’t help the country avoid U.S. sanctions because the global economy is “interconnected,” an official said.

The Bank of Russia views CBDCs as a responsible alternative to Bitcoin and wants to take fees from CBDC transactions.

According to official data, Russia’s inflation rate reached 8.1% in October, the highest level in almost six years.

After raising $440,000 selling NFTs on Binance, the Hermitage is now curious if NFTs are about the art, or rather just the money.

Some regulators feel that a lack of clear laws for the industry is helping crypto miners avoid paying taxes.

Russian lawmakers will reportedly begin working on the legal adjustments needed to implement the digital ruble plan scheduled for early 2022.

One way or another, Russians get exposure to crypto even if they go abroad, Tinkoff Investments’ head said.

Many crypto exchanges with Russian roots have fled the country or operate illegally, Blockchain Life’s founder said.

“No one is looking to allow Russian people to earn money with crypto operations,” the official claimed.

The recent law “On Digital Financial Assets” has not gone far enough in the eyes of Russian crypto industry advocates.

Google’s Threat Analysis Group (TAG) attributes the attacks to a group of hackers recruited in a Russian-speaking forum that sells the hacked YouTube channels to the highest bidder.