Holding Bitcoin is Okay, But Using and Mining It Isn’t

The Duma (parliament) representative in Russia may finally have given some clarity on cryptocurrencies, albeit inadvertently. While announcing potential fines for miners, it stated that owning bitcoin was possible. The revelation came during the St. Petersburg International Economic Forum, during an interview with Anatoly Aksakov, Chairman of the State Duma Committee on Financial Markets. Anybody […]

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Russia’s Central Bank Is ‘Against Legalization’ Of Cryptocurrency –

The head of the central bank of Russia says she does not want to legalize Bitcoin and other cryptocurrency as a payment method – because of risk and volatility. Bitcoin Has ‘Big Risks’ Speaking to the country’s parliament, the Duma, about the Bank of Russia’s impact over 2018, Elvira Nabiullina continued an increasingly bearish stance […]

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Russia ‘Would Consider’ Creating Gold-Backed Cryptocurrency

Russia’s central bank would consider creating a new cryptocurrency backed by gold for international settlements. Gold-Backed Crypto Could Have Use In Settlements That was the latest information to come from Elvira Nabiullina, head of the Bank of Russia, speaking to the country’s parliament, the Duma, about current plans involving cross-border finance. In principle, Nabiullina said […]

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Venezuela and Russia May Switch to Ruble After Trying ‘Petro’ Cryptocurrency –

Venezuela and Russia are in talks to switch over to the ruble for trade after trying the ‘El Petro’ cryptocurrency, a UN ambassador has revealed.   Venezuela and Russia ‘Currently Trying’ El Petro As Bitcoinist reported last December, Russian officials were introduced to El Petro but stopped short of confirming that it was going to be […]

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Newly Elected Ukraine President Promises Blockchain Not Bribes

Cryptocurrency could be high on the policy list of the new president of Ukraine after a senior aide revealed extensive Blockchain plans this week. New Ukraine Gov’t Plans ‘Smartphone State’ As Ukrainians overwhelmingly elected comedian Vladimir Zelenskiy to lead their embattled country, Mikhail Fyodorov, who led his digital campaign, said the new government would seek […]

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Russian Secret Service Demanded $1M Bitcoin Bribe From Media Mogul

Bitcoin hit the headlines in Russia again this week after it emerged the country’s law enforcement had tried to extract a bitcoin bribe worth $1 million. FSB Illegally Sought $1.02 Million As local cryptocurrency news media outlet Coinspot.io reported April 17, a scandal involving Russia’s secret police and the ex-head of one of the country’s […]

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Russia is Realizing It Has No Clue How to Regulate Cryptocurrency

The proposed ‘digital assets’ law aims to “legalize ICOs” in Russia and is expected to be reviewed in May. But lawmakers are slowly realizing the futility of regulating Bitcoin and cryptocurrency that are un-regulatable by design.  Russia’s ‘Digital Assets’ Bill Would Legalize ICOs Earlier this week, Russia’s Deputy Finance Minister Alexey Moiseev shared his thoughts […]

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Russia’s ‘Gold-Backed Crypto’ Would Lose to Bitcoin, Says Kremlin Economist

Russia and China buying up gold may be setting the stage for a gold-backed cryptocurrency, suggests a former EU minister. However, such a scheme would still be inferior to Bitcoin, according to Russian economist Vladislav Ginko.  Russia Targets ‘Monetary Reset’ Russia was the biggest buyer of gold last year and has quadrupled its gold reserves […]

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Iran May Unveil State-Backed Cryptocurrency This Week

Iran is reportedly expected to announce its state-backed digital currency at the annual Electronic Banking and Payment Systems Conference which starts on January 29th. The move is an attempt to bypass US-imposed economic sanctions.  Iran-Backed Cryptocurrency Iran first announced its intentions to launch a state-backed digital currency in the summer of 2018. The move was […]

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‘Unlikely in Next 30 Years’ – Russian Official Dispels Bitcoin Investment Rumor

Elina Sidorenko, head of the Legislative Risk Assessment Group in Russia, says there is no merit to rumors that the country will invest as much as $10 billion in bitcoin. Russia: Cryptocurrency Framework Not Yet in Place Speaking to Forklog, Sidorenko said the country doesn’t yet have the regulatory structure to invest state funds in cryptocurrencies. […]

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