Binance Considers Full Exit From Russian Market Amidst Regulatory Nightmare

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Crypto exchange Binance is considering a full exit from Russia

Key takeaways Binance is considering exiting the Russian market as it continues to face regulatory challenges in other parts of the world.   The crypto exchange recently revealed that its users in Belgium will access its services via its Poland unit.

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Binance mulls exiting Russian market

Binance could leave the Russian market following controversies around its in the region, the Wall Street Journal reprted on Aug. 28. In a statement quoted by the newspaper, one Binance representative said that “all options are on the table, including a full exit.

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Binance leaving Russian market is ‘on the table’: Report

A Binance spokesperson reportedly said the global cryptocurrency exchange was considering all options in regard to Russia, “including a full exit.”

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Russian turmoil fuels unprecedented USDT/RUB trade volume surge

Quick Take The USDT/RUB trading pair has seen a significant surge in volume, according to data from The Block. This uptick reflects the heightened market activity surrounding a turbulent period in Russia.

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Bitcoin Vapid, Gold Weakens as Russian Ruble and Argentinian Peso Crash

Ruble and Peso crash represent signs of crack in the global market, per one observer. So far, there has been little demand for perceived havens like bitcoin and gold.

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Russia eyes crypto mining legalization by 2024

Crypto mining could be legal in Russia as soon as 2024, according to the Chairman of the State Duma Committee on Financial Market Anatoly Aksakov. Aksakov remarked at the 2023 St Petersburg International Economic Forum on the role mining can play in the Russian economy.

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Russian Official Accused Of Accepting $28 Million Bitcoin Bribe: Scandal Unfolds

A recent report by Local media Kommersant disclosed that Russian regulators uncovered a Bitcoin bribe of 1,032. 1 BTC worth $28 million at the current market price.   Notably, a government official Marat Tambiev allegedly collected the bribe from hacker group members under his investigation.

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U.S. aluminum tariffs: Falling MW signals market is unconvinced

This article discusses the U.S. announcement of a 200% tariff on Russian aluminum imports, which has been warding off more international companies from buying Russian aluminum.

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Crypto Market Forecast: Week of January 9th 2022

A curated weekly summary of forward-focused crypto news that matters. This week, Coinbase CEO Brian Armstrong points to FTX contagion risks, Tonga and Fiji explore the potential of the Bitcoin network, and a major Russian bank launches a gold-backed digital asset.

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Demand for crypto mining in Russia explodes

The price of ASIC mining equipment is as close to the production cost as possible, according to BitRiver analyst Vladislav Antonov, so the Russian industrial market has welcomed the most recent developments.

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Russian bill would legalize crypto mining, sales under ‘experimental legal regime’

The bill provides a legal definition of mining and mining pools and would create a domestic cryptocurrency market in Russia’s latest step to integrate digital assets into its economy.

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Bitcoin hits new September high on US payrolls, G7 Russian energy cap

BTC price action nears $20,500 as on-chain data convinces one popular analyst that current moves are a bear market bottom in the making.

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Crypto Market Forecast: Week of June 7th 2022

A curated weekly summary of forward-focused crypto news that matters. This week, a key Russian official considers crypto for international transactions, President Biden outlines an inflation strategy, and the Cardano community gears up for the Vasil hard fork.

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German Authorities Shut Down Russian Darknet Market, Seize $25M in Bitcoin

The marketplace's bitcoin privacy mixer complicated the investigation, police said.

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Bitcoin, Ether, Cardano, Solana Gain $50 Billion As Russia’s Stock Market Resumes Trading

The resurgence across major cryptocurrencies comes even as the Russian stock market opens up for trading after shutting down for a month following a central bank decision after major stock indices slumped in the aftermath of the Ukrainian invasion.

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Dubai Is On Its Way To Becoming Crypto’s WonderLand After Issuing Licenses To Binance And FTX

The resurgence across major cryptocurrencies comes even as the Russian stock market opens up for trading after shutting down for a month following a central bank decision after major stock indices slumped in the aftermath of the Ukrainian invasion.

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Former CIA Analyst Says Crypto Market Not Large Enough To Offset Russian Losses But Small Scale Entities And Oligarchs Could Gain

In a CNBC interview with industry experts and former CIA economic analysts, it was revealed that the crypto market was not a practical solution for Russia. However, exchanges have to be placed on high alert for oligarchs and entities that might use cryptocurrencies to evade sanctions.

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Bitcoin’s slides back at $38k, but funds keep moving out of exchanges

As the war in Ukraine moves into its third week, if there still is a demand for bitcoin (BTC) and other cryptocurrencies in the Russian and Ukrainian markets, to try to escape sanctions or as an escape route for people to safeguard their funds, this does not seem to have reflections on market prices of […] The post Bitcoin’s slides back at $38k, but funds keep moving out of exchanges appeared first on CryptoSlate.

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Coinbase Ready To Ban All Russian Users If Government Decides To Impose A Ban – CEO Brian Armstrong

The debate of whether bitcoin is stealing gold’s market share as a store-of-value asset has been heating up in recent years. With bitcoin getting clobbered amid the crisis in Ukraine, investors are now questioning its safe-haven status.

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Russians are paying up to $20,000 above market rate to buy Bitcoin

Media outlet DeFiprime dot com noted Bitcoin is trading for up to $20,000 above the market rate on Russian exchanges. The post Russians are paying up to $20,000 above market rate to buy Bitcoin appeared first on CryptoSlate.

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Bitcoin In Demand, Bulls Enjoy 9% Surge

Bitcoin surged as much as 9% after a weekend selloff, on anticipation that cryptocurrencies may gain popularity as a result of Russian sanctions. According to TradingView, the crypto market appears to have recovered after weeks of poor performance, with the price of Bitcoin (BTC) rising 14.

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Bitcoin hits $41k as Russian ruble plummets in value

As the war in Ukraine continues, Bitcoin and the rest of the crypto market, including Ethereum, has been highly correlated to the traditional market. The post Bitcoin hits $41k as Russian ruble plummets in value appeared first on CryptoSlate.

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Central Bank of Russia Braces for Turmoil With Nonresident Trading Ban

Brokers will not be able to execute trades on Russian equities for non-residents as central bank prepares for a tumultuous market opening.

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Crypto Market Forecast: Week of February 28th 2022

A curated weekly summary of forward-focused crypto news that matters. This week, markets see-saw as sentiments swing following the Russian invasion of Ukraine, the correlation between BTC and equities remains high, and the market readies itself for Jerome Powell's latest monetary policy testimony.

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$170 Million In Futures Liquidate As Bitcoin Recovers Above $38k

Data shows more than $170 million in Bitcoin futures has liquidated over the past 24 hours as the price of the crypto makes sharp recovery above $38k. BTC Price Makes Sharp Recovery From Crash Due To Russia’s Invasion Of Ukraine Following the commencement of the Russian invasion of Ukraine yesterday, the price of Bitcoin took a deep plunge down as investors pulled out of the market.

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Russian miners keep running, may see pivot to Bitcoin in response to sanctions

With sanctions coming from the U.S. and allied NATO nations, it is unclear how the local BTC sector and the broader market will be impacted.

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Russian Crypto News Site Warns it Might Shutdown Amid Ukraine Invasion

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Crypto Market Bleeds As Missiles Rain Down On Ukraine

On the heels of Ukraine’s economic troubles, Bitcoin and Ethereum have taken a pounding in the crypto market. According to multiple news reports Thursday, around two dozen Russian cruise missiles have hit specific targets in two cities in Ukraine, including its capital, Kyiv.

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Ukraine Is Better ‘Armed’ Than Russia In Crypto Adoption As War Breaks Out

Ukraine has an advantage in terms of crypto adoption over Russia, research shows, as the latter launches an invasion of Ukraine. Chainalysis, a market research firm, rated Ukraine fourth globally in its 2021 Global Crypto Adoption Index (GCAI), which tracks the amount and value of cryptocurrency exchanged in a country.

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Bitcoin and Altcoins Tank as Russia Launches Full-Scale Invasion of Ukraine

The cryptocurrency market suffered a severe drop after Russian forces launched a full-scale invasion of Ukraine

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Russia Stocks Plunge by 13%; War Fears Trickle Down on Cryptocurrency and Futures Contracts

The Russian stock market plummeted on Monday as war concerns sparked a massive sell-off, wiping off tens of billions of dollars from the value of some of the country's most valuable companies.

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Russian Stocks Crash 13%

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Crypto Market Forecast: Week of February 21st 2022

A curated weekly summary of forward-focused crypto news that matters. This week, digital asset investors play it safe as the US warns of a Russian invasion, the Ethereum network hashrate hits a new all-time high, and investors prepare themselves for the latest round of inflation figures from the US.

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Russian Central Bank: everything must be done to protect Russians from cryptocurrency market risks

Cryptocurrencies carry high risks for the financial well-being of citizens and national economy stability, therefore they cannot be legalized, says the head of the Central Bank of the Russian Federation, Elvira Nabiullina.

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If Russia regulates the market, Moscow could pocket $13 billion in crypto tax each year

While Moscow continues weighing its options for regulating cryptocurrencies, preliminary estimates suggest that Russian authorities could collect up to $13 billion (1 trillion rubles) from taxing the market, according to The Bell.

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Bloomberg: Russian government estimates national cryptocurrency market at $214 billion

The Kremlin estimated the volume of investments of Russians in cryptocurrencies at $214 billion, or 16.4 trillion rubles. This is approximately 12% of all global cryptocurrency markets.

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Owner of Russian bank Tinkoff acquires Swiss digital asset firm

Russian banks have been increasingly moving into the digital asset market despite the Bank of Russia's hostility toward crypto.

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Russia’s Largest State-Owned Bank Introduces Country’s First Crypto and Blockchain ETF

Sberbank, the largest and state-owned Russian bank, has introduced the country’s first exchange-traded fund (ETF) to offer exposure to companies involved in the blockchain industry. The fund launched by the bank is called Sberbank Blockchain Economy ETF that trades on the Russian stock market under the ticker “SBBE,” Sber Asset Management said in a statement.

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Russians Have Invested $67 Billion In Crypto As The CBR Flirts With A Ban

According to a recent report by a Russian lawmaker, the country’s citizens have invested over 5 trillion rubles ($67. 5 billion) in the crypto market, but the regulatory terrain remains hostile and unclear with the governor of the Central Bank of Russia increasingly hinting at a highly regulated environment Cryptocurrencies have had legal status in Russia since 2020, although it is forbidden to use them as means of payment in the country.

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Russian State Duma estimates investments of Russians in cryptocurrencies at trillions of rubles

The State Duma Committee on the Financial Market estimated the investments of Russians in cryptocurrencies at 5 trillion rubles. Earlier, the Central Bank stated that the Russians are among the most active participants in the crypto market.

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Binance Signs A Deal With Dubai World Trade Center After DWTC Creates a Specialized Crypto Zone

While Dubai works on setting up an international crypto ecosystem, Russia’s central bank does “not see room for cryptocurrency on the Russian financial market.” The post Binance Signs A Deal With Dubai World Trade Center After DWTC Creates a Specialized Crypto Zone first appeared on BitcoinExchangeGuide.

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Putin about cryptocurrencies: risks are big, but there may be a future behind them

The Russian president spoke about his double vision of cryptocurrencies. According to him, so far the best position will be to stand by and watch where the crypto market is going to.

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Central Bank of Russia: Russians annually make transactions with cryptocurrencies worth $5 billion

According to the Russian financial regulator, Russian investors are among the most active in the cryptocurrency market. The volume of transactions made by Russians in digital currencies annually amounts to approximately 350 billion rubles.

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Bank of Russia concerned about crypto even as crypto activity in the region swells

A top executive in the country’s crypto industry recently remarked that the Russian market… The post Bank of Russia concerned about crypto even as crypto activity in the region swells appeared first on Coin Journal.

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Russian crypto market worth $500B despite bad regulation, says exec

Many crypto exchanges with Russian roots have fled the country or operate illegally, Blockchain Life’s founder said.

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Russian State Duma Committee proposes to shield unqualified investors from cryptocurrencies

The head of the Duma committee on the financial market stated the need to limit investments of unqualified investors in crypto assets in order to protect their interests.

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Bitget Launches its Russian Version: Another Leap Towards Globalization

The derivatives exchange Bitget announced a new Russian version to provide both trade services and customer support in the Russian language — another crucial globalization initiative following its entry into Japan, South Korea, and the Southeast Asia market last year.

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Bank of Russia to Study Risks of Crypto Investing With Banks and Payment Providers

The Central Bank of Russia (CBR) has set out to examine the risks associated with cryptocurrency investments. The regulator is going to conduct a dedicated study with the participation of major banks and payment processors operating in the Russian market.

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