Russian Yandex Forgot Bitcoin Exchange Rate
[Update: The conversion for Bitcoin feature is reportedly working, albeit in English, according to some users on Yandex after the publishing of this article.] Russian Deputy Finance Minister Aleksey Moiseev informed a reporter that the Russian government would be banning Bitcoin within one year. That was in September, only a month ago, and it seems that they are moving forward much more rapidly. The Russian news blog, bitmakler.com, announced on October 5th that the Finance ministry has proposed a fine of up to 1 million rubles for the “production and use of money surrogates in Russian”.....
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Russian search engine Yandex has started tracking the exchange rate of bitcoin for the US dollar, the euro and the British pound, but oddly enough not the Russian rouble. Yandex is by far the biggest search engine in Russia, with a 60% market share. It also has a big following in several of the countries that are part of the Commonwealth of Independent States. In 2011 Yandex managed to raise $1.3bn in a NASDAQ initial public offering, the biggest IPO since Google went public seven years earlier. The company also operates an e-commerce payment system, dubbed Yandex. Money. As of this week,....
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Earlier this week, National Bank of Ukraine introduced a ban on the use of payment services provided by Webmoney, Yandex.Money, Qiwi Wallet and Wallet One. State authority explained that it was due to the fact that the rules of digital money use were not coordinated by the companies with the National Bank of Ukraine that their provision of their services was suspended. Banned Russian companies express genuine surprise. In this situation, service users are the ones affected the most as it will become impossible to pay for goods and services and withdraw money from eWallets operated by....