The Russian government has seized $10 million worth of bitcoins from a former law enforcement official. Russian court enforcers have begun seizing bitcoins from a former employee of the Investigative Committee of the Russian Federation (ICRF) in connection with a large-scale cryptocurrency-related bribery case. Law enforcement officials have begun work on seizing about 103 bitcoins - which belonged to former ICRF employee Marat Tambiev, who was convicted of cryptocurrency bribery in 2023. The co...
Federal Reserve officials agreed that inflation is likely to continue to slow this year, but also saw a heightened risk of persistent price pressures as policymakers begin to deal with the impact of the incoming Trump administration's policies, according to Federal Reserve meeting notes for December. Participants expected inflation to continue to move toward 2 percent, although they noted that recent higher-than-expected inflation data, as well as the impact of potential changes in trade and imm...
The Russian government's Electricity Development Committee on Monday approved cryptocurrency mining restrictions, which will come into effect on December 1 and then be implemented every year from November 15 to March 15 until 2031. Deputy Minister of Energy Yevgeny Grabchak confirmed the decision, which targets 13 regions other than Moscow, including Iran.
On November 19, according to Interfax news agency, the Russian government has approved the draft amendments to the bill on taxation of income and expenditure from cryptocurrency transactions and mining. According to the proposed legislation, cryptocurrencies will be classified as property for tax purposes, and income generated from mining activities will be taxed according to the market value at the time of receipt. Miners will be allowed to deduct expenses related to mining operations from thei...
Ahead of the Trump administration and its enthusiasm for digital assets, SEC Chairperson Gensler is making one last lobbying push to allow the agency to regulate the cryptocurrency market, the agency reported. In a speech prepared for a legal conference in New York on Thursday, Gensler reiterated that the agency should focus on "rules of the road" that apply to cryptocurrency sales and intermediaries, such as brokers and exchanges, to support proper disclosure. Gensler said the experience of the...
The Russian government's Committee on Legislative Activities advanced a bill on cryptocurrency taxation on November 11, 2024. The bill defines cryptocurrencies as property and sets different tax requirements for individual and corporate miners. According to the new regulations, companies need to register with the Federal Tax Service to legally carry out mining operations, while individuals with monthly electricity consumption below 6,000 kWh do not need to register. The new framework adopts a tw...
The Russian government released a document on Friday detailing a law signed by President Vladimir Putin to expand the scope of digital currency regulation. The new law significantly expands government oversight of cryptocurrency mining activities and related infrastructure across the country.
According to the Russian newspaper Kommersant, citing government regulations, the Russian government has reduced the proportion of forced foreign exchange sales by exporters in the domestic market from 50% to 25%.
According to a report by the Russian Central Bank quoted by Izvestia on July 3, the Russian government is considering the formal legalization of internationally traded stablecoins to simplify cross-border transfers by Russian companies. According to the report, the Central Bank of the Russian Federation (CBR) is actively discussing ways to allow the use of these cryptoassets.
Due to the abundant supply in the market, the Russian government has finally decided to lift the temporary ban on gasoline exports.