The Russian government has prepared a memo on the law “On digital financial assets” that states the “exchange of cryptocurrencies for fiat money to the amount of 600,000 rubles (around $10,000) and more has to be subject to mandatory currency control,” Russian publication Izvestiya reports.
Gemini, the digital-asset exchange run by the Winklevoss twins, is introducing a service that will allow investors to make big trades outside of the firm’s order books.
While dramatic price swings of bitcoin and other cryptocurrencies are rattling the nerves of investors, a Moscow-based company has launched a hotline to help ease their anxiety over crypto market fluctuations.
The ZODIAQ project, which is creating a universal financial blockchain corporation, received a banking license of category B from the Comoros Offshore Finance Authority for offshore operations.
Cryptocurrency exchange EXMO has announced a sale of EXO (EXMO Coin) tokens to fund margin loans functionality for traders.
Major Russian businessmen are interested in cryptocurrencies, while one tenth of the Forbes list invest in this new kind of financial tool.
A senior official at Russia’s Central Bank insists the so called initial coin offerings (ICOs) could drive funding opportunities for startups, which is why the regulator is ready support the development of the blockchain funding model.
Speaking at the state-owned TV channel Russia 1, the country’s finance minister Anton Siluanov has stated that bitcoin will not replace ruble for internal settlements.