Major Russian bank explores crypto investment amid strong demand
One way or another, Russians get exposure to crypto even if they go abroad, Tinkoff Investments’ head said. Tinkoff Investments, the online brokerage of major Russian private bank Tinkoff, is researching cryptocurrency investment services despite the Bank of Russia withholding the bank from launching such tools.Tinkoff Investments head Dmitry Panchenko claimed that the bank’s brokerage portal is considering projects related to cryptocurrency investment, but it’s too early to discuss specific ideas.The company is now working on research and development initiatives targeting a range of....
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An increasing number of financial and crypto pyramids targeting Russian investors have been opening physical offices in the country. The Central Bank of Russia has recently expressed concern over the trend which is seen as an indication that the fraudsters expect growing demand.
Russian Crypto Scams Launch Offices to Lure More Investors In-person, Bank of Russia Says
Financial pyramids and illegal forex dealers in Russia, many of which now specialize in offering crypto investment and settlement opportunities, are moving offline, the daily Izvestia reported quoting the Central....
Platforms listing ads for mining hardware have been registering declining demand since Bank of Russia’s call for a ban on the minting of digital currencies among other crypto activities. While mining may eventually be legalized, miners can expect to pay higher electricity bills.
Supply Exceeds Demand on Russian Market for Mining Chips
Mining hardware is now more often offered than sought, Russian online marketplaces have noticed. The trend began after the Central Bank of Russia (CBR) published a consultation paper this month, in which the regulator proposed a blanket ban....
The Bank of Russia is collecting data from 15 credit firms and payment systems like Visa and Mastercard. Russia’s central bank has scheduled a risk assessment for cryptocurrencies like Bitcoin (BTC), according to the Bank of Russia’s screening program for the second half of 2021.The examination of the potential risks of cryptocurrency investing will consider “systemic risks linked to cryptocurrency investment by Russian individuals and entities.” As part of the investigation, the Bank of Russia will collect data from 15 credit organizations including major banks like Sberbank, VTB and....
A long-time member of the Russian State Duma has criticized the central bank’s approach to digital assets. A Russian State Duma member has blasted the central bank’s tough stance on the cryptocurrency industry for ignoring the growing demand for crypto in the country.Fedot Tumusov, a member of the “A Just Russia” party representing the Siberian region of Yakutsk, has criticized the Bank of Russia’s approach to regulating the crypto industry following a Tuesday plenary meeting of the State Duma.In a Tuesday Telegram post, Tumusov outlined the growing need to create an ecosystem that allows....
US Bank has launched its cryptocurrency custody services. “Investor interest in cryptocurrency and demand from our fund services clients have grown strongly over the last few years,” the bank said.
US Bank’s Crypto Custody Services Now Live
U.S. Bank announced Tuesday that its cryptocurrency custody services are now live and available to its Global Fund Services clients.
U.S. Bancorp, with nearly 70,000 employees and $559 billion in assets as of June 30, is the parent company of U.S. Bank, the fifth-largest bank in the country. The....