In a significant escalation of financial pressure, the European Union is contemplating a prohibition on all cryptocurrency transactions with Russia to prevent the digital circumvention of sanctions.
Russia’s Ministry of Finance and the Central Bank are set to launch a cryptocurrency exchange for “super-qualified investors.”
The Russian government has made a significant decision regarding cryptocurrency mining, announcing that it will be banned in 10 regions until 2031.
The approval of a new bill by Russian lawmakers means that soon, industrial Bitcoin miners will have to pay taxes on their revenues.
On Monday, the Russian Ministry of Finance proposed a tax rate of 15% on crypto earnings as part of a larger effort to regulate cryptocurrency mining and transactions.
Russian President Vladimir Putin has signed a new law aimed at reducing the country’s dependence on the United States dollar in international trade.
Russian users of crypto exchanges Bybit and OKX will now no longer be able to withdraw funds to accounts with Sberbank and Tinkoff Bank.
