05.07.2022 18:55 / TASS
The State Duma adopted a law on tax support measures for citizens and businesses The State Duma adopted in the third, final reading a law on a set of measures for tax support of citizens and businesses in the face of sanctions pressure. The document was initiated by the government of the Russian Federation.
05.07.2022 18:51 / TASS
The State Duma adopted a law on the merger of the PFR and the FSS The State Duma at a plenary session on Tuesday adopted in the third reading a bill on the creation of a unified Pension and Social Insurance Fund (Social Fund of Russia), as well as a package of related initiatives, including amendments to the Tax and Budget Codes of the Russian Federation.
05.07.2022 18:41 / TASS
Duma passes IPO/SPO bill in second reading The State Duma adopted in the second reading a bill aimed at developing the institution of public placement of securities on the Russian financial market. The document, which amends the law "On combating the misuse of insider information and market manipulation," was initiated by a group of deputies and senators headed by Anatoly Aksakov, chairman of the State Duma committee on the financial market.
17.05.2022 16:18 / TASS
Central Bank to launch cybersecurity education course The Bank of Russia will launch an educational course on cybersecurity in the 2023-2024 academic year at the Higher School of Economics (NRU HSE), announced Head of the Central Bank of the Russian Federation Elvira Nabiullina, speaking at Junior Pay Tech Forum 2022.
19.04.2022 16:49 / The Bank of Russia
Russian issuers to close foreign depositary receipt programmes A ban on issuing and trading in foreign depositary receipts for Russian issuers’ shares will come into effect on 27 April 2022.
15.04.2022 16:36 / TASS
The Central Bank of Russia rolls out new support measures for the financial sector The Central Bank has prepared a new series of measures to support the Russian financial sector, the regulator said in a release. The CB allowed banks until the end of the year to postpone the formation of reserves for possible losses in respect of assets that have been blocked abroad.
Central Bank to Develop Cryptocurrency Regulation
08.06.2017 19:27 / TASS
Over the past few months, Russia has moved to legalize and regulate cryptocurrency trading. Skorobogatova previously said an outright ban on bitcoin and currencies of its ilk would be infeasible. Unconfirmed reports from Russian news aggregators claimed on Friday that Herman Gref, the CEO of Russia’s Sberbank, will help develop a “Russian Bitcoin,” to serve as “the only cryptocurrency freely available [cryptocurrency] for sale and purchase.”
Earlier this year, Gref said at a conference Russia could have industrial-scale blockchain deployment by 2019. But according to Reuters, Russian authorities have historically been skeptical about bitcoin, associating it with money laundering and terrorism. Treating bitcoin as parallel currency is currently illegal in Russia. Only time will tell how regulators will treat competing cryptocurrencies as the new policies take shape.
Elvira Nabiullina, governor of the Russian Central Bank, said the Kremlin does not plan to make bitcoin itself a legal tender. "We don't consider that bitcoin can be considered as a virtual currency. It's more digital assets with the regulation of assets," she told CNBC.
Despite the uncertainties, many Russian bitcoin traders are celebrating. “Thousands of people are taking part of this [blockchain] movement, you see a conference in Moscow almost every week. You see Russian blockchain media with big traffic,” said Alexey Antonov from Moscow, a financial advisor at the Russian Supercomputer Organized by Network Mining. SONM plans to launch their initial coin offering in June and make blockchain technology without hash-based traditional cryptocurrency mining.