2 / 2 Relevant items tagged with #Restrictions

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Russia to Ban Banks From Using Messengers Like Telegram to Contact Customers

[Dec 25, 2022 12:30 AM] Financial institutions in Russia will not be able to communicate with clients through instant messengers based outside the country, local media revealed. A new law passed by the State Duma also prohibits banks from using chats to send personal data…

Russian Parliament Postpones Adoption of Crypto Mining Bill

[Dec 24, 2022 2:30 AM] Russian lawmakers will consider a draft law on cryptocurrency mining in 2023 despite earlier indications they were going to vote on the proposal in December. The bill is expected to set the rules for the extraction and sale of cryptocurrency in…

Bank of Russia to Test International Crypto Payments With Companies

[Dec 20, 2022 5:30 PM] The Central Bank of Russia plans to use cryptocurrency for cross-border payments in trials with private companies, a member of its top management has revealed. The testing will be conducted under a special legal regime that’s currently under…

Bank of Russia Moves to Safeguard Crypto Companies Against Sanctions

[Dec 15, 2022 8:30 PM] The Central Bank of Russia has introduced measures to protect entities working with digital assets from sanctions pressures. These businesses will be exempted from some reporting requirements as part of a regulatory relief intended to minimize the…

Apple to allow third-party app stores in windfall for NFTs and crypto

[Dec 13, 2022 8:41 PM] In a win for crypto app developers, incoming EU laws will force Apple to permit alternative app stores and apps without the need to go through its App Store.

Crypto Exchange Bybit to Add New Restrictions for Unverified Users, Update Withdrawal Limits

[Dec 12, 2022 5:30 AM] Cryptocurrency exchange Bybit has announced upcoming changes to its know-your-customer (KYC) policy that will limit certain operations for unverified customers. The stricter requirements concern coin purchases with fiat money, NFT transactions, and…

Manitoba Halts New Crypto Mining Projects Due to Expected High Energy Demand

[Dec 1, 2022 12:30 AM] Authorities in Manitoba are temporarily suspending the connection of new crypto mining facilities to the power grid. The Canadian province, which relies heavily on hydroelectric generation and attracts miners with low electricity rates, fears it…

Putin Calls for International Settlements Based on Blockchain and Digital Currencies

[Nov 27, 2022 5:00 AM] Russian President Vladimir Putin believes a new system for international money transfers is needed to reduce dependence on big banks and third parties. He is convinced that cross-border payments relying on digital currency and distributed ledger…

Russia Prepares to Create Government-Controlled Crypto Exchange

[Nov 24, 2022 8:30 AM] Lawmakers in Russia are drafting legislation that would allow the establishment of a “national cryptocurrency exchange,” local media unveiled. Coins now circulate outside of government oversight and the Russian state is losing budget revenues in…

New York Governor Signs Law Partially Banning Bitcoin Mining on Fossil Fuels

[Nov 23, 2022 8:00 AM] A moratorium on some crypto mining operations relying on carbon-based energy has been signed into law in New York. Businesses engaged in proof-of-work mining in the state will not be able to expand or renew their permits for the next two years as a…

Russia and Cuba Eye Cryptocurrencies for Settlements Amid Sanctions

[Nov 17, 2022 6:30 AM] Both facing sanctions, Russia and Cuba are looking into alternative options for cross-border payments, including cryptocurrencies, a Kremlin advisor has unveiled in Havana. Moscow is already developing a mechanism for crypto settlements to…

Russia and Turkey to Collaborate on Combating Crime-Related Crypto Transactions

[Nov 11, 2022 12:30 AM] Law enforcement and judicial authorities from Russia and Turkey are joining forces in the fight against cybercrime, including the use of cryptocurrencies for illegal purposes. The collaboration has been agreed upon during a visit by Russia’s…