Russian Government Approves Plan to Regulate Cryptocurrency
The federal government in Moscow has adopted a concept for regulating the Russian crypto space as early as this month. The new framework is expected to place cryptocurrency flows under…
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Russian Government Eyes $13 Billion in Taxes From Crypto Economy
Authorities in Moscow expect to collect more than $13 billion as tax payments from the Russian crypto market, according to a government document quoted by media. The estimate comes as…
Electricity Consumption Spikes in Irkutsk as More Russians Start Mining Cryptocurrency
Electricity suppliers in the Russian region of Irkutsk have registered a surge in power consumption in residential areas which they are blaming on cryptocurrency mining. Planes with mining equipment from…
Russians Mining Crypto to Pay at Least 15% Tax, Companies – No Less Than 6%, Lawmaker Says
Private individuals mining cryptocurrency may expect a higher tax burden than businesses involved in the industry, a high-ranking member of the Russian parliament has indicated. While the extraction of digital…
Russian Government to Present Regulatory Scenarios for Cryptocurrencies Within a Week, Report
The federal government of Russia should be ready with different regulatory scenarios for the country’s crypto market by the end of next working week, documents from a recent meeting have…
Russian Association of Power Suppliers Proposes Measures to Prevent Home Mining
The industry organization of Russian energy suppliers has come up with ideas on how to combat cryptocurrency mining in homes, basements and garages. The association believes the phenomenon is the…
Demand for Mining Equipment Drops in Russia Amid Fears of Possible Ban, Report
Platforms listing ads for mining hardware have been registering declining demand since Bank of Russia’s call for a ban on the minting of digital currencies among other crypto activities. While…
Major Crypto Exchanges Ready to Work in Russia Under Proposed Rules, Report
Leading exchanges, polled by the Russian press, have indicated they are not afraid of the upcoming strict crypto regulations. A requirement for coin trading platforms to establish a local office…
Russians Own $215 Billion in Crypto Suggests Estimate Attributed to Government
Russians may own more cryptocurrency than previously thought, a new estimate reportedly used by the government has indicated. The quoted figure amounts to over a tenth of the global holdings…
Crypto Ban in Russia Can Have Opposite Effect, Medvedev Warns as Opposition Mounts Against Proposal
Dmitry Medvedev, former president and prime minister of Russia, has voiced his concerns over Bank of Russia’s initiative to ban most crypto operations. Prohibition could bring the opposite result, the…
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