Late last year, when interest in Bitcoin and its price was at its peak, France’s finance minister suggested that there be a public debate of Bitcoin at the G20 summit which concluded this week. The conclusion of this meeting, in regards to where the nations now stand on cryptocurrencies, is that a firm July deadline has been put forward for recommendations on how to regulate cryptocurrencies globally. There was some general uptake and interest in approaching this hitherto unknown and confusing space as countries had, up until now been forging forward mostly on their own in terms of regulations. However, …

A group of Russian deputies headed by Anatoly Aksakov, Chairman of the State Duma Committee on Financial Markets, submitted a draft of federal law on cryptocurrencies and Initial Coin Offerings (ICO) regulations to the State Duma, as reported in an official press release March 20. According to the press release, the documents “On Digital Financial Assets” and “On Alternative Methods of Fundraising (Crowdfunding)” were prepared in accordance with the recent instructions from president Vladimir Putin, stating that cryptocurrency regulations will become law by July 1, 2018. The bill “On Digital Financial Assets” was first introduced on Jan. 25 by the …

In a hearing on Feb. 26, the Moscow Arbitration Court ruled that cryptocurrency funds of a bankrupt debtor cannot be seized as payment to creditors, local media group RBC reports. The court considered an application filed by finance manager Aleksey Leonov, who requested permission to recover funds from a debtor, Ilya Tsarkov, by seizing Tsarkov’s crypto assets. According to RBC, Leonov requested that the court require Tsarkov to provide the password for his cryptocurrency wallet on the website Blockchain.info. The court reviewed documents that proved Tsarkov was in possession of a crypto wallet with Bitcoins, but refused to grant Leonov’s …

This idea that simply plugging your computer or nowadays, specialized mining rigs into the Internet and making money out of thin air is extremely attractive. However, it is obviously not as simple as it sounds, and the mining sector is one that has become very competitive and sophisticated. Despite this individuals who are interested in mining can still join in, and by narrowing their margins, there is the potential to make a decent profit. It all comes down to cheap resources though, and in the case of mining, that resource is electricity. The disparity between electricity prices around the world …

The demand for Bitcoin and the rush to invest in the digital coin are growing daily. Despite the criticism and ‘fraud’ accusations, great names like Goldman Sachs Group Inc. are thinking about introducing a cryptocurrencies trading desk and what kind of legal bottlenecks are involved. Image: the street It was reported earlier that the company is considering the possibility for its investors to trade in Bitcoin. The bank is yet to commence cryptocurrency trading and is looking into the legal implications. A bank as experienced as Goldman Sachs wouldn’t want to jump into a business that may face regulations in …

The Ethereum Foundation has signed a far-stretching agreement with Russian state-owned bank VEB at the “Blockchain: The New Oil of Russia” conference in Tatarstan. Russia leading the pack The union is intended to create a new Blockchain technology training program in order to move Russia forward in the Blockchain world. According to the statement: “The agreement provides for a long-term and effective partnership in the implementation of projects using the technology of the distributed registry and Ethereum platform, the formation of an expert community on the Ethereum platform and the joint development and implementation of educational programs for training specialists …

The Moscow Stock Exchange plans soon to begin the trading of digital currencies. The exchange will also list derivatives and exchange-traded funds (ETF) based on different cryptocurrencies. The exchange is currently creating an infrastructure to trade Bitcoin and other virtual currencies as of August 2017. The move comes after Russia seemingly banned ‘ordinary people’ from buying cryptocurrency. Based on a report by Russian state-owned news agency Tass, the exchange has claimed that a platform for the post-trading of cryptocurrency assets is already in the works. Part of the exchange’s statement reads: “We are already working on creating an infrastructure for …

In a further twist to Russia’s complex approach to cryptocurrency, power plants have begun selling excess capacity to Bitcoin miners. As local news outlet Daily Storm reports Monday, the country’s largest energy providers Gazprom and EuroSibEnergo are currently “in talks” with “tens” of miners looking to take advantage of cheap electricity prices. “No contracts have been finalized so far, but the company (EuroSibEnergo) is not declining partnership opportunities,” reports state. An interactive map shows around 70 “potential” locations miners could use to benefit from spare capacity. The developments run in contrast with cryptocurrency’s plight at regulatory level in Russia this …

Russia’s first deputy prime minister Igor Shuvalov has repeated plans for the country to adopt its own cryptocurrency. Speaking to local news network RBC about the so-called ‘BitRuble,’ Shuvalov said the Russian security service the FSB was already considering potential security loopholes ahead of time. “I am a supporter of a cryptoruble coming into being,” he said. “Discussing Blockchain, we agreed we should act carefully - the government, central bank and the FSB.” In line with previous comments on the controlled nature of a future Blockchain-based currency, Shuvalov reiterated there should be no risk of “harm to the national economy.” …

Saint Petersburg will soon host a major international IT event: the ICO-Hypethon. This event will be hosted by Crypto Friends and sponsored by the Waves Platform and Eberhard Lindfordt. Hypethon is expected to draw more than 1,000 visitors over a two-day period and will feature workshops, meet-and-greets with industry leaders and presentations from promising startups. These startups will be competing for Angel funding in order to get their projects off the ground, and ultimately intend on hosting ICOs to sell their tokens to crypto investors. Saint Petersburg is already home to several important online software technologies such SEMrush, IQ Options, …

On Aug. 16-17, dozens of ambitious project teams are expected to take part in Hypethon in Saint Petersburg, Russia. The event will see a launch of their pre-ICOs and a fierce competition for the prize pool provided by ICO angels. Saint Petersburg which is challenging Moscow in becoming the Russian Blockchain capital, has recently witnessed a “Crypto Friends” meetup organized by Eberhard Lindfordt. In a highly successful event, over 150 cryptocurrency professionals and enthusiasts gathered at the “Kreutz Flat” restaurant to talk about major trends and developments in the industry. “Crypto Friends believe that teams with disruptive ideas shouldn’t miss …

Russian citizens can now pay their bills for internet and mobile phones with Bitcoin. Megafon, Beeline and other popular operators now accept Bitcoins through such services as Cryptonator and 7pay.in. Such services can make Bitcoin more attractive for ordinary Russian users. Cryptonator also offers payment options for popular online games, such as World of Tanks, Perfect World and others. Besides, they can use Bitcoins to replenish their accounts in popular Russian social networks and Skype. However, the service doesn’t make Bitcoin payments directly. They take Bitcoins, then convert it to RUR according to the system’s internal rate and only then …