Boris Titov, a Russian businessman/ombudsman and bitcoin advocate, recently revealed he will participate in the presidential elections in 2018.
Sberbank has piloted the Russian banking industry’s first ever payment transaction over a blockchain.
Russia’s deputy finance minister Alexei Moiseev has reportedly stressed that buying bitcoin and other cryptocurrencies will be legal in the country.
“Bitcoin is thrown to the wolves,” the headline reads, punctuating the tail end of Saxo Bank’s prediction that the bitcoin price will soar above $60,000 in 2018 before crashing more than 98 percent to “its fundamental ‘production cost’ of $1,000.
The Central Bank of Russia has warned investors of risks surrounding cryptocurrencies in a report released on Tuesday.
According to state-owned news agency TASS, the latest ‘Financial Stability Report’ from Russia’s central bank has called on investors to be wary of a cryptocurrency market ‘bubble’ that could lead to losses.
An excerpt from the report, according to TASS read:
A ‘bubble’ on the cryptocurrencies market may result in substantial losses for consumers.
Russia’s minister for communications and mass media has opined that the country will never allow cryptocurrencies like Bitcoin to be legalized.
Speaking to reporters in Moscow on Monday, Russian minister Nikolai Nikiforov claimed the country’s laws would never consider bitcoin as a legal cryptocurrency after deeming it a “foreign project.”
According to TASS, the country’s largest news agency wholly owned by the Russian state, Nikiforov stated:
Bitcoin is a foreign project for using blockchain technology, the Russian law will never consider bitcoin as a legal entity in the jurisdiction of the Russian Federation.
A senior official from Russia’s central bank has pledged support for initial coin offerings, or ICOs, after underlining its “tremendous potential” for financing entrepreneurs and startups.
Sergey Shvetsov, the first deputy governor of the Bank of Russia, has said the central bank will “support the development” of ICO fundraising in Russia. According to Russian state news agency TASS, Shvetsov highlighted the “huge investment potential” brought on by ICOs, wherein startups or companies raise finances in cryptocurrencies in exchange for their own cryptographic tokens.
The chief of Russia’s federal tourism agency is “absolutely convinced” that blockchain will transform the tourism industry.
Oleg Safonov, head of Russia’s Federal Agency for Tourism, sees the tourism industry on the verge of major disruptive changes in brought on by new technologies. The official specifically picked blockchain technology as the core driver of this change. The Russian tourism chief was speaking at the Kazan Tourism Forum where he revealed the bullish prediction wasn’t a personal take but an opinion shared by the agency overall.
Russian government-owned development bank, Vnesheconombank (VEB), and e-procurement resource platform Roseltorg are teaming up on a new blockchain project.
Using blockchain technology, the project aims to build a platform for transparent electronic transactions between the government departments and businesses. The project would also facilitate new methods for storing and verifying information as part of the move towards a digital economy, a press release states.
A Russian entrepreneur has filed three patent applications that would grant him the right to distribute “vodka that trades on the Bitcoin, Ethereum, and Ethereum Classic brand names.
As reported in local Russian news outlet Life.
Executives of Russia's National Settlement Depository (NSD) have revealed new details about a plan to build a blockchain-based depository platform for safeguarding crypto assets.
The platform, separate from the NSD itself, is designed to turn traditional financial market infrastructures into compliant custodians of digital currencies and tokens.
Related exclusively to CoinDesk, the newly dubbed Decentralized Digital Depository (D3) is being designed to provide institutional investors with a compliant way to own such assets.
Russia's largest clearing and settlement company has issued its first-ever live bond using blockchain, and already, issuers and brokers are wanting in on the action.
Initiated three weeks ago, the National Securities Depository (NSD) reproduced the financial instrument, a $10 million bond for shares in Russian telecom giant MegaFon, using smart contracts and the open-source Hyperledger Fabric blockchain.
Russian President Vladimir Putin has mandated new regulations around cryptocurrencies, including registration requirements for miners and the application of securities laws to initial coin offerings (ICOs).
The Kremlin published five orders from Putin over the weekend, representing perhaps the most direct move to date by the Russian government to oversee activities around the tech. Not only do the orders from Putin mandate new legal structures around cryptocurrency within Russia, they ambitiously establish a plan to use the technology to create a "single payment space" within the Eurasian Economic Union, which features Armenia, Belarus, Kazakhstan, Kyrgyzstan and Russia as members.
As Russia prepares regulation for cryptocurrencies, one Russian official has said investments in bitcoin is worse than playing casinos.
Last week, an elite meeting of Russian financial officials and regulators convened with Russian president Vladimir Putin to discuss cryptocurrencies as financial instruments in the country. Putin acknowledged “cryptocurrencies are becoming or have already become a full-fledged means of payment, as well as a means of instrument” in several countries around the world.
Sberbank, Russia’s largest bank by assets has joined the Enterprise Ethereum Alliance, the world’s largest blockchain consortium.
Initially founded by 30 members in February 2016, The Enterprise Ethereum Alliance (EEA) is a working group of companies, technology startups, corporations and even governments working to leverage open-source Ethereum technology for enterprise blockchain solutions.
Bitcoin may have had a tough September, but it appears to be turning a corner and is demonstrating its resilience in the face of obstacles.
That’s according to Germany’s public international broadcaster. In a report from DW, experts are claiming that the digital currency may be in for a ‘sustained record run as it overcomes key obstacles.
Following a meeting between Russian President Vladimir Putin and financial officials, regulators have decided to officially regulate both the mining and supply of cryptocurrencies like bitcoin.
Russian finance minister Anton Siluanov has revealed details of last week’s meeting on cryptocurrencies and financial technologies (FinTech) between Putin and major Russian financial regulators and authorities.
Russian president Vladimir Putin has called for a state-issued cryptocurrency – the cryptoruble.
According to Russian publication AIF, a closed-doors meeting between President Putin and Moscow’s political elite at the city’s Capital Club led to Putin make the significant decision to have Russia issue its own cryptocurrency, dubbed the ‘cryptoruble’. Details of the meeting were revealed by Russian minister of Communications and Mass Communications Nikolai Nikiforov.
The senior government official also claimed the cryptoruble will be developed and issued ‘quickly’ by the Russian state.
The bitcoin price punched through $4,900 on Tuesday, defying hostile Russian regulators and reaching ever closer to a new all-time high.
Bitcoin Price Breaks Past $4,920
“It feels like a $5k kinda day,” Blockchain Capital’s Spencer Bogart tweeted this morning, and he was not alone in this sentiment.
Since breaking through the psychologically-important $4,500 barrier earlier this week, bitcoin has continued to scale the charts, and investors have been anticipating the moment when the bitcoin price will leap across the $5,000 mark to set a new record.
Russia’s Vladimir Putin has commented on cryptocurrencies by acknowledging their growth as a legitimate method of payment and warning against “significant” risks.
Speaking at a government meeting in city or Sochi today, Russian president Vladimir Putin warned of “serious risks” accompanying cryptocurrencies. The remarks are notable for Putin becoming highest-profile global leader to comment on cryptocurrencies yet.
In remarks reported by RT, Russia’s Putin underlined the marked growth of cryptocurrencies and their adoption into society.
According to a Reuters report, Sergei Shvetsov – first deputy governor of the Central Bank of Russia (CBR) has stated today that Russia will block access to websites belonging to exchanges and trading platforms offering cryptocurrencies like bitcoin.
The central bank official was speaking at a financial markets conference today when he pointed to the “dubious” nature of bitcoin – as an investment instrument for retail investors.
The head of a Russian government ministry has cautioned against cryptocurrency investments by comparing bitcoin price ’ to that of ‘MMM’, a former Russian ponzi scheme.
In public comments last week, Russia’s Minister of Economic Development Maxim Oreshkin urged everyday investors to be wary of investing in cryptocurrencies, particularly bitcoin.
In statements reported by regional news source RIA, Oreshkin stated:
The fact that we see, for example with bitcoin, the publicity that goes around with the topic is dangerous for the involvement of citizens who are not qualified investors.
At a time in which Russian central bank officials question whether or not they should legalize cryptocurrencies, the founder of Russian bank Tinkoff, Oleg Tinkov, published a post on his Facebook page in which he states that his bank is “almost ready” to launch its own cryptocurrency, TinCoin.
According to reports, Tinkoff bank was founded in 2006 and managed to obtain a large number of clients in a short amount of time thanks to flexible credit card terms.
The first initial coin offering (ICO) to be sanctioned by a traditional clearing and settlement platform is now underway in Russia.
Just days after signing an agreement with NP RTS Group, the LavkaLavka farming collective has discreetly begun taking orders for a pre-sale of its "biocoin" tokens. So far, the organization has raised $500,000 toward a $15 million goal. But if successful, the ICO would fund the creation of an expansive loyalty platform, one that would link together 200 farms, restaurants, cafes and small businesses that today have had difficulty getting capital from traditional banks.
Alexey Moiseev, the deputy finance minister of Russia, said earlier this week that he expects pending legislation on cryptocurrencies will feature a ban on payments made in cryptocurrency.
According to the state-backed news source TASS, Moiseev – who previously said that bitcoin should be classified as a kind of asset in Russia and limited to qualified investors – told reporters on Monday that "no regulator doubts that payments will be banned.