Posts Tagged ‘Russia’

Execs at Payments Giant Qiwi Launch Crypto Investment Bank

Executives at the blockchain arm of Qiwi, one of the largest e-payment providers in Russia, are launching a crypto investment bank, called HASH, to advise investors and help domestic companies tokenize their assets once appropriate regulations are in place. Branded as “the first crypto investment bank in Russia,” HASH will manage clients’ ICOs, help them build […]

UK-based fintech startup Revolut partners with QIWI to offer services in Russia

Russian payment services provider QIWI is partnering with UK-based fintech company Revolut and announced the launch of Revolut services in Russia. Under the partnership, QIWI granted Revolut access to its banking infrastructure via open APIs. Revolut services will run on the payment infrastructure of QIWI Bank and will be available to individuals in Russia. The […]

Russia’s Largest Bank to Pilot First Official ICO

Russian bank Sberbank CIB, the investment banking arm of major state-owned bank Sberbank, and the National Settlement Depository, which is part of the Moscow Stock Exchange Group, will pilot the country’s first official ICO using the Bank of Russia’s regulatory sandbox. The experimental ICO proceeds will reportedly be used to launch new tokenized online services by Level […]

Cryptocurrency is Property in Russia, Justice Minister Confirms

A bankruptcy case involving a modest amount of bitcoin has sparked discussions in Russian legal circles. Some say a crypto is nothing more than “a set of characters.” Others, including Russia’s Justice Minister Alexander Konovalov, are categorical – cryptocurrency falls under the legal category of “other property.”  The question about the status of cryptocurrencies in […]

Russia’s Megafon to Create Fintech-Oriented Joint Venture with Gazprombank, Rostec

Megafon, the second largest mobile phone operator in Russia, announced that it would initiate a joint venture with Gazprombank, Rostec, and USM Holdings, to deploy digital projects, including those related to blockchain. The new company, called MF Technology, will help the partnering companies unite their expertise in various industries, like telecommunications, IT, financial services and […]

Moscow Court Blocks Telegram Chat App After $1.7 Billion ICO

A Moscow court ordered telecommunications companies to block Telegram in Russia after the chat app refused to grant intelligence authorities access to users’ encrypted messages, in a blow to the company just weeks after it raised $1.7 billion from investors. The Virgin Islands-registered company has over 9.5 million users in Russia. Telegram said last month […]

Russia Unveils ICO Regulations, Underpinned By The Ruble

Russia’s Ministry of Telecom and Mass Communications (MinComSvyaz) has prepared regulations for ICOs. The document is currently in the public discussion stage. Some of the most notable points in the document are: ICO organizers would be accredited for a period of 5 years; Accreditation is proposed to be voluntary and controlled by MinComSvyaz; ICOs must be registered […]

Russia Drafting Blockchain Legislation to Speed Up Adoption

The Russian government is developing a regulatory framework for the full-fledged use of blocking technology and may have the draft ready within months. Russia is one of the most active countries when it comes to blockchain projects. Currently, almost 10% of all ICOs come from Russia, according to Icobench. Read more

Cryptocurrency And ICO Laws Submitted To Russian Legislature

Two bills relating to cryptocurrencies and ICOs have been submitted to the lower house of Russia’s legislature, the State Duma. The titles of the bills are On Digital Financial Assets and On Alternative Ways of Crowdfunding. The development comes after the country’s Ministry of Finance and central bank reportedly reached a consensus on the topic of whether […]

Venezuela and Russia Are Collaborating on Cryptocurrency

Venezuelan Finance Minister Simon Zerpa Delgado met with Russian officials in Moscow the day after the petro launched, according to tweets published through his official account. While it’s possible that the meetings focused on other issues as well, the topic of the petro, which was launched late in February, came up. It remains unclear exactly […]