On Friday, credit rating agency Fitch published a research piece about Russia's proposed ban on cryptocurrencies. Although the report agreed with the Central Bank of Russia's (CBR) position that the ban would limit its financial system's exposure to risks, it also cautioned that such a proposal could "hold back the diffusion of technologies that could improve productivity."In … [Read more...] about Fitch says proposed Russia crypto ban eases risks but curbs innovation
Russia
Binance Taps Former Government Officials for Russia, Ukraine Posts
Smerkis is taking on the role previously filled by Gleb Kostarev, now Binance’s director in the Eastern Europe. The local team in Russia and Eastern Europe has been growing over the past years, Kostarev told CoinDesk, so to supervise it, Binance now is boosting its local leadership. In summer 2020, Binance hired Evgeniy Pavlov, formerly with Bitfury, as its business development … [Read more...] about Binance Taps Former Government Officials for Russia, Ukraine Posts
Bank of Russia Bars Mutual Funds From Investing in Crypto
The Bank of Russia, the country’s chief financial regulator, issued new rules for the country’s mutual funds in a new directive published Monday.Such funds cannot invest in digital currencies, nor in “financial instruments, the value of which depends on the prices of digital currencies.”In July, the regulator banned Russia’s stock exchanges from listing financial instruments … [Read more...] about Bank of Russia Bars Mutual Funds From Investing in Crypto
New project aims to bring global crypto miners to Russia
A major cryptocurrency and blockchain association in Russia is launching a project to bring global crypto mining operations to the country amid a Chinese crypto mining crackdown.The Russian Association of Cryptoeconomics, Artificial Intelligence and Blockchain, or RACIB, announced an initiative aimed at transferring global computing resources for crypto mining to the Russian … [Read more...] about New project aims to bring global crypto miners to Russia
Crypto is the most dangerous investment, Bank of Russia governor says
The Bank of Russia continues its tough stance on cryptocurrency trading despite growing concerns over the country missing out on the digital asset industry. The governor of Russia’s central bank, Elvira Nabiullina, reiterated the bank’s negative stance on crypto in a Monday interview with Komsomolskaya Pravda, arguing that crypto is one of the most dangerous investments that … [Read more...] about Crypto is the most dangerous investment, Bank of Russia governor says