Venezuela and Russia May Switch to Ruble After Trying ‘Petro’ Cryptocurrency –

Venezuela and Russia are in talks to switch over to the ruble for trade after trying the ‘El Petro’ cryptocurrency, a UN ambassador has revealed.   Venezuela and Russia ‘Currently Trying’ El Petro As Bitcoinist reported last December, Russian officials were introduced to El Petro but stopped short of confirming that it was going to be […]

Continue Reading

Russian Secret Service Demanded $1M Bitcoin Bribe From Media Mogul

Bitcoin hit the headlines in Russia again this week after it emerged the country’s law enforcement had tried to extract a bitcoin bribe worth $1 million. FSB Illegally Sought $1.02 Million As local cryptocurrency news media outlet Coinspot.io reported April 17, a scandal involving Russia’s secret police and the ex-head of one of the country’s […]

Continue Reading

Bitcoin Trading Plummets in Venezuela Blackout as Government Struggles to Pay Money Printers

Bitcoin use in Venezuela took a hit this week after a persisting electricity blackout appeared to limit the ability of users to transact.  Bitcoin Trades Drop 40 Percent That was the conclusion of some cryptocurrency commentators as data showed weekly trade volumes on P2P platform Localbitcoins fell by 40 percent in the week ending March […]

Continue Reading

Iran May Unveil State-Backed Cryptocurrency This Week

Iran is reportedly expected to announce its state-backed digital currency at the annual Electronic Banking and Payment Systems Conference which starts on January 29th. The move is an attempt to bypass US-imposed economic sanctions.  Iran-Backed Cryptocurrency Iran first announced its intentions to launch a state-backed digital currency in the summer of 2018. The move was […]

Continue Reading

Russia Planning $10B Bitcoin Investment, Insists Kremlin Economist

Russian economist, Vladislav Ginko, says Russia is looking to invest $10 billion in Bitcoin as the State Duma has put cryptocurrency legislation high on the agenda for 2019. Rumored $10 Billion Bitcoin Investment Ginko, an economist with ties to the Kremlin, says the Russian government will convert some of its USD reserves into Bitcoin, a […]

Continue Reading

Officials Push Ahead Despite Concerns With West Virginia’s Blockchain Voting Experiment

West Virginia is gearing up to deploy a blockchain-based voting application for elections in November. The idea is being met with growing amounts of criticism from security experts and election specialists, but those spearheading the initiative are moving forward.  Earlier this year, Bitcoinist reported on West Virginia’s ambitious plans to bring blockchain to voting. In […]

Continue Reading

Russia Developing Cryptocurrency Tracker – Bitcoinist.com

The Federal Financial Monitoring Service of Russia (Rosfinmonitoring) has commissioned an analytical tool for monitoring cryptocurrency transactions. The system will particularly focus on bitcoin, as reported by BBC’s Russian service. Plug In, Baby Rosfinmonitoring, whose responsibilities include countering financial fraud and terrorist financing, already use a bespoke Unified Information System. This allows for the input […]

Continue Reading

Russia Is Spearheading Global ICO Regulations But Can It Ever Work?

Samuel Rae · December 1, 2017 · 1:45 pm The Russian Association of Blockchain and Cryptocurrency is trying to establish a network of regulators for the ICO space but – whatever they achieve – doubts remain as to whether it can ever be totally effective. The part that various global nations will play in the […]

Continue Reading