Russia envisages maximum penalty of 7 years in jail for Bitcoin activities LeapRate

March 14, 2016 BY Maria Nikolova

Russia envisages maximum penalty of 7 years in jail for Bitcoin activities

Individuals and organizations engaged in Bitcoin-related activities in Russia face tougher penalties than originally envisaged, under plans drafted by the Ministry of Finance. As per LeapRate's earlier report, Russia's Ministry of Finance is set to submit a bill with the nation's parliament not later than June this year, with the document to contain a set…

February 29, 2016 BY Maria Nikolova

Bank of Russia softens stance on crypto currency tech

It is a rare occurrence that the Bank of Russia publishes a press release on Sunday. But yesterday it did and the press release concerned financial market innovation and blockchain, in particular. The “Megaregulator” press release was published just a couple of days after it became clear that a bill penalizing Bitcoin use is drafted by…

February 27, 2016 BY Maria Nikolova

Russia's Ministry of Finance to present bill penalizing Bitcoin use in June

The position of Russian regulators regarding crypto currencies in general and Bitcoin, in particular, has yet to be made clear. Whereas in 2014 the Bank of Russia dubbed Bitcoin a type of money surrogate and warned against it, the law is not precise regarding the status of Bitcoin and its use. This is about to…

December 10, 2015 BY Maria Nikolova

Russia's Sberbank willing to join R3 consortium and develop blockchain tech

Russian financial companies are increasingly looking at exploring and tapping the possibilities of blockchain technology. After payment services provider Qiwi PLC (NASDAQ:QIWI) voiced its plans to launch its own crypto currency using blockchain, Sberbank Rossii PAO (MCX:SBER) has voiced its willingness to develop blockchain-based products and use them in its services. Lev A. Khasis, First Deputy…

July 15, 2015 BY Maria Nikolova

Putin's comments spark speculation he supports Bitcoin

Comments by Russia's president that different “coins” could be used in some sectors were interpreted as support for Bitcoin. This interpretation was afterwards rebuffed by Kremlin's press spokesman.

Tag: Bitcoin in Russia