Global #Russia

Russian President Vladimir Putin has recognized Bitcoin's resilience, calling it "unstoppable" during a recent forum in Moscow.

​Russia's Federation Council has given its approval to a bill that will introduce a new tax regime for cryptocurrency transactions and mining activities.

Russian authorities are set to introduce significant restrictions on cryptocurrency mining in regions of Ukraine under its control, marking a new regulatory step in the country’s ongoing response to its energy challenges amid the war.

Russia is embarking on an ambitious project to build Bitcoin mining and AI computing facilities in collaboration with other BRICS nations, a move that could inspire similar initiatives worldwide.

On October 30, Evgeny Grabchak, Russia’s Deputy Energy Minister, announced that the country will soon impose restrictions on cryptocurrency mining in regions facing critical electricity shortages.

Russia is set to tighten its grip on crypto exchanges as regulators seek to bring the industry under stricter control. The Financial Action Task Force (FATF) compliance is a key driver behind these regulatory efforts.

The Russian Energy Ministry is seeking greater authority to manage the burgeoning cryptocurrency mining sector, specifically aiming to disconnect miners from energy grids as they ramp up operations.

In a significant move to curb illegal cryptocurrency activities, Russian authorities have reportedly launched a crackdown on unauthorized crypto exchanges, conducting extensive raids in Saint Petersburg and surrounding areas.

The Bank of Russia (CBR) is embarking on a significant initiative to monitor all cross-border cryptocurrency transactions conducted by its citizens over the next six months.

In response to severe electricity shortages, authorities in Dagestan, a republic in Russia, are ramping up efforts to shut down illegal underground crypto mining farms. Local officials blame these operations for significant power theft and frequent outages that have affected residents.

In a recent crackdown, Moscow police have dismantled a suspected “cross-border” cryptocurrency exchange that they believe facilitated illegal money transfers for Russian clients.

In a significant development for the cryptocurrency landscape in Russia, Anatoly Aksakov, Chairman of the Russian State Duma Committee on Financial Markets, has announced that the country will implement regulations governing cryptocurrency trading by November.