Russia Blocks Online Bitcoin Exchange in Midst of Blockchain Reform
Russia blocks one of the largest running cryptocurrency exchanges, BTCe, following BitStamp’s voluntary IP block of its Russian users. These developments are likely a preview of what is to come from enforcement of recent laws criminalizing blockchain technologies and ‘money substitutes’ in the Russian market. Russia Can’t Make Up its Mind on the Blockchain. More baffling still is the fact these moves to shut down Bitcoin exchanges are coming after last month’s announcement of a ‘clear road map’ to legalize cryptocurrency in Russia. This roadmap is a facet of a proposal to deregulate the IT....
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Earlier today, Congressman Stockman (TX-36) announced on his website in a press release that he plans to introduce the "Virtual Currency Tax Reform Act." I wish he had taken it a step further and called it the "Digital Currency Tax Reform Act," but one can only have so many wins in a day. This piece of legislation, if enacted, would revise the IRS Virtual Currency Guidance released very late last month. Instead of treating virtual currencies such as Bitcoin as property, the Virtual Currency Tax Reform Act will call for their treatment as currency. The exact text of the proposed legislation....
The successful Cryptoforum Russia event may pave way for a strong public-private sector collaboration in cryptocurrency projects soon. Russia is known for its prolific cryptocurrency community. In the midst of regulatory uncertainties, the community is actively involved in finding new applications of Bitcoin and its underlying blockchain technology in regular day to day applications. As a part of their continued effort, BitNovosti and EthClassic.ru jointly had recently organized the first Cryptoforum Russia event at the Moscow Center auditorium. The event saw participation from some of the....
A court in Russia’s Perm region has decided to block a number of websites describing how to exchange cryptocurrency for fiat cash. Local prosecutors claim the dissemination of this type of information is against the law in Russia as it may facilitate the laundering of illicit funds. Kungur City Court Blocks Crypto-Related Sites The Kungur City Court in the Russian Perm Krai region has upheld a request filed by the Beryozovsky District Prosecutor’s Office to take down several internet sites detailing various methods of cashing out bitcoin. The prosecutors who discovered the....
While inflation data in Europe and the U.S. has risen significantly higher last month, Russia and members of the BRICS countries revealed leaders in the five major emerging economies are in the midst of “creating an international reserve currency.” Analysts believe the BRICS reserve currency is meant to rival the U.S. dollar and the International Monetary Fund’s (IMF) Special Drawing Rights (SDRs) currency.
Vladimir Putin Reveals the Creation of a New International Reserve Currency at the 14th BRICS Summit — Turkey, Egypt, and Saudi Arabia Consider Joining....
Authorities in Russia have arrested a crypto entrepreneur associated with an unidentified cryptocurrency exchange who is suspected of embezzling funds and property. According to a media report, the detained person is one of the owners of Wex, successor of the infamous BTC-e exchange.
Owner of Wex Exchange Apprehended in Russia
Russian law enforcement agencies have detained a man accused of stealing financial and other assets from a cryptocurrency exchange, the Ministry of Internal Affairs (MVD) announced Tuesday. The suspect allegedly controlled large amounts in cryptocurrency....