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Russia Adopts Digital Rights Law as “Basis” for Digital Economy Development

The Russian parliament Duma has voted on a new digital rights legislation to be enacted in October this year. The latest changes to the Russian civil codex went through the third and final Duma reading on Tuesday. The law adds a new article, 141.1, of the Civil Code of the Russian Federation along with establishing the concept of “digital rights” in Russian …

US Sanctions Russian Bank Over Alleged Support for Venezuela’s Crypto

US Sanctions Russian Bank Over Alleged Support for Venezuela’s Crypto

The United States Treasury Department, in an official press release, has added Moscow-based Evrofinance Mosnarbank to its sanctions list, after allegedly showing a willingness to finance Venezuela’s Petro (PTR) cryptocurrency. A Venezuelan government account at Evrofinance was used to invite early investors to buy PTR, stated the Treasury. According to reports, Evrofinance is jointly owned by Venezuelan and Russian government …

Russian Railways to Implement Blockchain

Plans are brewing in Russia to use blockchain technology to provide exempts in its railway transport system, according to Russian news outlet Rambler News Service (RNS). The agreement being discussed between the Russian national pension fund and the Russian Railways will allow travel discounts and also provide transparency to monitor the railway transport system. The head of the Pension Fund, …

Russian Deputy Minister Discloses Crypto Plans for Offshore Development

The Russian deputy minister of economic development Ilya Torosov has mentioned that a new package of measures for the improvement of Russian offshore will affect ships and digital assets, according to local news outlet TASS. The Special Administrative Regions (SAR) was developed last year by the Ministry of Economic Development as part of its “Russian offshore companies” initiative, and now, …

Russia Sets 1st July Deadline for Crypto Regulation

Cryptocurrency regulation in Russia has yet again been given a final deadline as President Vladimir Putin has given instructions to the Federal Assembly to come up with a regulatory framework for the digital asset industry. The Presidential Address posted on the Kremlin website specifically issued orders to Volodin Vyacheslav Viktorovich and Medvedev Dmitry Anatolyevich to draw up a working legal …

Miners Concerned Over Russia’s Planned Internet Shutdown Test

There are growing concerns is Russia’s cryptocurrency community that the cyberwar internet shutdown tests scheduled to take place before 1 April could impact Bitcoin mining. The Digital Economy National Program, a new law recently drafted, will require Russian ISPs to be able to operate if the country is isolated online and as such the government is planning to monitor its effectiveness …

Ginko Defends Russian $10 Billion Bitcoin Investment Claims

Vladislav Ginko Defends Russian $10 Billion Bitcoin Investment Claims

Despite receiving stark criticism for his comments earlier this month, economist Vladislav Ginko stands by his claim that Russia has imminent plans to invest USD 10 billion in Bitcoin. Ginko previously stated that the Kremlin was seeking to diversify its reserves in the face of further sanctions from the US, as the Russian government looked to devise a strategy to move away …

Russian Government Official Denies Bitcoin “Huge” Investment

Russian Government Official Denies Bitcoin "Huge" Investment

Rumors that Russia might be pondering the possibility of buying Bitcoins as a means of fighting US-imposed economic sanctions have been strongly denied by the Russian authorities, according to local news blog Forklog. In the past few days, it has been suggested that a Russian economist with ties to the Russian government had said that the country was about to …

De-Dollarization: Russia’s Controversial $10 Billion Bitcoin Investment Rumor


Reports of a probable investment in Bitcoin by the Russia Federation in values of USD 10 billion, targeted at evading US sanctions, are making headlines. Most of the reports cite Russian economist Vladislav Ginko, who claimed to work with his state government. He took to Twitter responding to crypto analyst Chris Burniske‘s assessment of blockchain’s value (monetary perspective) relative to …

Crimean Blockchain Cluster Attractive to Foreign Investors, Says Muradov

Crimean Blockchain Cluster Attractive to Foreign Investors, Says Muradov

A press release published today by major local news media RIA Novosti says there is an increase in the demand for blockchain products and services within the Crimean region by foreign companies. Vice-Premier of the Crimean Government Georgy Muradov told the news agency that the blockchain hub and their potential is of particular interest to the Chinese. He said: “Our Chinese …

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