Launched in April 2018, the Bank of Russia’s regulatory sandbox offers FinTech companies the chance to test new financial services and technologies without the risk of violating domestic law.
Mohammad Reza Pourebrahimi, the head of the Iranian Parliamentary Commission for Economic Affairs, has suggested that cryptocurrencies be used to bypass US sanctions.
At a meeting with Dmitry Mezentsev, the Chair of the Federation Council Committee on Economic Policy, Pourebrahimi said that cryptocurrencies could provide a way for Iran and Russia to avoid US dollar transactions,
The transaction involved placing commercial bonds in the amount of RUB 750 million ($12M USD) with a maturity of 182 days and an annual coupon rate of 6.8% on the OTC market.
A Moscow bank has instituted a program for Venezuela’s Petro coin, allowing investors to acquire the oil-backed coin and circumvent US sanctions.
Evrofinance Mosnarbank, which has been a minor bank in Russia, so far is the only international financial institution willing to sell the Petro.
Russia’s Ninth Arbitration Court of Appeals has recognized cryptocurrency as a “valuable property.”
In its ruling on Monday, the court recognized cryptocurency as a property with value in bankruptcy proceedings. The court ruled that a bankrupt person’s cryptocurrency must be included in the debtor’s bankruptcy estate.
The St. Petersburg City Court has been ordered by the Russian Supreme Court to review an appeal involving a crypto-related website that was blocked in the country.
In 2016, the Vyborgsky District Court of St. Petersburg granted the application of the Prosecution Office and blocked the Bitcoininfo.ru website,
A Moscow court has ordered that chat app Telegram, which has raised $1.7 billion in its pre-initial coin offering, be blocked by Russia’s telecommunication companies.
The court order comes as Telegram refuses to provide law enforcement and intelligence operations with a key to read the encrypted messages on the service.
Russia’s Ministry of Internal Affairs (MIA) officers have shut down a cryptocurrency mining farm for not paying several million kilowatt-hours of electricity.
Ministry of Internal Affairs spokeswoman Irina Volk said that the authorities went to inspect a cryptocurrency mining farm in Orenburg after a local energy supplier reported significant power losses coming from the area.
The financial regulators of the Eurasian Economic Union (EAEU) recently discussed key trends and initiatives related to the use of innovative financial technology (FinTech) to develop and promote today’s services across the EAEU.
The regulators of Russia, Armenia, Belarus, Kazakhstan, and Kyrgyzstan held a Joint Payment Area Working Group meeting,
Olga Skorobogatova, first deputy governor of the central bank of Russia, said the central bank is considering the possibility of using a proposed blockchain payments network to create a single payment space across the Eurasian Economic Union (EAEU).
According to Russian news agency Tass,