Russia CryptoLaw near

As Russia’s cryptocurrency bill slowly inches forward, a government official has hinted at what may lie ahead when the legislation is finally passed. Although fears exist that cryptocurrency use banned outright, this is highly unlikely. Much more likely is that, as stated by Deputy Finance Minister Alexei Moiseyev recently, Russia is likely to allow the buying and selling of cryptocurrencies, (mirroring foreign currency rules) but crypto-payments are not going to be permitted as this would threaten domestic currency stability. Matters are in discussion between the Russian central bank and the Federal Security Bureau, the nation’s security agency. Russia is under pressure to adopt cryptocurrency law before the end of 2019 in order to comply with recommendations of Financial Action Task Force (FATF), and some countries are targeting 31st October 2019. FATF’s 37 member nations are not obliged to apply its guidance, but non-complying countries can be blacklisted, which would be harmful financially.

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Bitsane leads to calls for tighter regulation of crypto-exchanges

Fri Jun 28 , 2019
Reports are being made all over the internet that Ireland-based cryptocurrency exchange Bitsane has vanished, taking as many as 246,000 users’ crypto deposits with it (daily traded volume of just over $7 million). Bitsane LP (formerly listed as one of Ripple’s approved exchanges) launched in 2016 in Dublin and pitched […]