Tether Finds Real-World Use Case In China-Russian Grey Market –

The grey market flow of cheap Chinese goods into the Russian market has established a real-world use case for Tether. Millions of dollars worth of USDT are being used every day to sidestep strict capital controls for remittances back to China. The Flow Of Rubles Into Tether OTC trading desks in Moscow are doing a roaring […]

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Bitcoin Price Inaction, India Ban, and Sanction Busting –

The United Kingdom gained a new Prime Minister this week, voted for by Conservative party members. But will Boris be bad for Bitcoin? Or perhaps cause prices to rise? Maybe Boris isn’t the answer to all our questions and we should be looking elsewhere… like the rest of the weeks news, for instance. Bitcoin Price: Down But […]

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Russia: Crypto Won’t Receive Money Status Anytime Soon

Russia won’t officially legalize digital currencies in the near future, according to the conclusions of the participants of a “round table” dedicated to crypto regulation. Issuance of Anything Besides Ruble is Still Illegal On Thursday, July 25, a panel of Russian officials and experts discussed the regulation of cryptocurrency. The event was hosted by the […]

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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 […]

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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 […]

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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 […]

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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 […]

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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 […]

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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 […]

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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 […]

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