Russia

Russian central bank
Source: Adobe/999xy

Russian Central Bank has told domestic banks to block crypto exchange transactions

The Russian central bank has told domestic commercial banks to block the crypto exchange-related card and e-pay transactions for their customers. The Bank of Russia stated in an official statement that internet-based “shadow economy”-related businesses must be eliminated. It urged domestic banks and e-payment providers to identify all accounts. And e-wallets associated with “illegal business […]

Russian Government Blocks Anonymous Wallet Deposits

In a move that will affect 10 million users across the world, the Russian Federation has banned anonymous deposits to online wallets. The program is expected to curtail criminal activity, such as terrorist funding and the illicit drug trade, according to lawmakers. 10M anonymous wallets have been affected Online wallets are very popular in Russia, […]

domestic energy sector
blockchain use in domestic energy sector

Russia Tests Blockchain for Retail Payments in Domestic Energy Sector

The domestic energy sector in Russia seems to have a blockchain solution for retail payments. The national energy grid operator from Russia, Rosetti plans this to bring debt into control. As a result, the system can automate and make transactions happen between energy producers, suppliers, and consumers transparently. Designed by the Russian DLT startup Waves […]

cryptocurrency ban in Russia

Bank of Russia Sticks to Ban on Cryptocurrency Payments

Though cryptocurrency payments are changing the way we transact, there are still many controversies going around its ban. Previously we have come across many fact sheets that describe banks are barred to offer direct access to crypto assets. But the new law implementing at different states and countries have changed the mindset. A piece of […]

Facebook's Cryptocurrency in Russia

No Facebook Cryptocurrency in Russia.?

Anatoly Aksakov, a chairman of the Russian State Duma committee says that Facebook’s Cryptocurrency will not be legalized in Russia. He believes the cryptocurrency might pose a threat to the country’s financial system. Apart from this, he also said Russia has no plans to legalize the active circulation of virtual currencies that are based on […]

Ban on Crypto Trading

Russian Parliament to Impose Ban on Crypto Trading

The State Duma, which is the Russian Parliamentary body may soon put a ban on crypto trading. Anatoly Aksakov, the chairman of the State Duma Committee mentions in an interview that mining, issuing, circulating or trading of crypto will be prohibited. There will be issuing of fine for anyone caught meddling with cryptocurrencies. He further […]

Blockchain Tourism Platform

Russia Will Initiate Blockchain Tourism Platform

Russian state Yugra will soon launch a blockchain tourism platform. It will track the public spending of government grants to ensure transparency. The general director of Yugra’s development fund has entered with a pact by joining hands with blockchain startup Universa. The latter will develop the blockchain system. The info about the system comes from […]

Dixy

Russia’s Supermarket Giant Dixy To Employ Blockchain For Trade Finance

Dixy, the Russian supermarket Giant is gearing up to implement blockchain for its trade finance in the country. The Russian Blockchain firm, Factorin is will develop the blockchain system for Dixy. This will allow its’ suppliers to receive payment in one day which previously took two weeks. The development of the new system took place […]