Russian Authorities Freezes Bank Accounts of the Opposition Party – This is why we need Bitcoin

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Source: BTC
Russian Authorities Freezes Bank Accounts of the Opposition Party – This is why we need Bitcoin

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Russian airline blockchain ticketing hit $1m: Good news for Bitcoin?

A ticketing program has hit one million dollars ($1m) in sales over the course of one year since July 2018. Could this be a good step for Bitcoin and the country’ stance? Russia is not too keen to adopt cryptocurrencies but has been optimistic about blockchain. For businesses to adopt blockchain as […]
Source: bitcoinwarrior
Russian airline blockchain ticketing hit m: Good news for Bitcoin?

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Russian S7 Airlines generates $1 million in ticket sales through blockchain

7 , which is the second-largest company in Russia has recently made a report that it managed to generate around $1 million in sales through its new partnership within just one month. The platform is Ehereum-based and was developed through a partnership with a local commercial called Alfa . It needs […]
Source: bitcoinwarrior
Russian S7 Airlines generates million in ticket sales through blockchain

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Russian Miner Importer Under Investigation for Dodging Import Fees

Far-East Trading and Industrial Company, an of cryptocurrency mining gear, is being investigated by law enforcement in Russia. 

In its report on the investigation, CoinDesk revealed that the importer is alleged to have evaded up to $1.2 million in taxes on about 6,012 ASIC miners brought into Russia between August 2017 and February 2018. 

According to a search warrant, the Moscow-based company (also known as DTPK) reportedly presented falsified documents to authorities throughout this period, with the documents themselves showing incorrect product prices.

The company was also accused of falsely reporting to the customs service that it got the miners from MSR Co., a Korean firm. Further investigation revealed that MSR Co. hadn’t done any business with the company. 

Officers from the Russian Federal Customs Service led a raid of some suspected DTPK business partners earlier this month. Intelion Mining, a company that runs data centers that host miners, saw up to 2,500 of its ASICs seized by the authorities from locations in Moscow and Tula.  

The case is the latest in Russia’ efforts to tackle cryptocurrency miners who use equipment without proper documentation.

The post Russian Miner Importer Under Investigation for Dodging Import Fees appeared first on Bitcoin Magazine.


Source: bitcoinmagazine
Russian Miner Importer Under Investigation for Dodging Import Fees

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Russian Weapon Manufacturer To Start Accepting Bitcoin

russian weapon manufacturer


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and Soyuzmash which is the Union of Machine Builders in Russia, asked the for permission to start accepting bitcoin and other cryptocurrency payments for weapon deals in order to bypass the US sanctions as we read about in the previous altcoin news.

The Vice President of Soyuzmash, Vladimir Gutenev, told the advisory council on military-technical cooperation that the current conditions are very tough due to the harsh sanctions that were imposed by the United States. The environment is not a competitive one because of the strong sanctions pressure so this is why they are considering payments for weapons to be conducted in bitcoin since the transactions are increasingly difficult.

However, Soyuzmash which is backed by the State Duma defense commission, believes that if they start accepting bitcoin payments, this could alleviate some of the issues. The anonymous transactions are one of the ways that can provide a solution to the existing problems. The problems of course with this is that Russia’ central Bank has been very strong on the stance that they don’t want to legalize bitcoin.

One of the key issues that many have with Bitcoin is the alleged use for buying and selling illegal items on the dark web. The illegality of Bitcoin in Russia prevents the state-backed companies to properly function which makes it morally questionable that the arms deals seem rather ironic. Apparently, Gutenev discussed the matter with the chief of the Central Bank Elvira Nabiullina and he also proposed using a stablecoin if the bank agrees.


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The Russian weapon manufacturer is now trying to avoid the sanctions since it is the second most largest exporter of weapons in the world. It comes right after the United States with 21% of the market. Recent reports show that countries such as Iran, China and Russia may already have a long-term cryptocurrency strategy in order to avoid the sanctions as noted in the latest cryptocurrency news.

In the meantime, it seems like the Russian Duma is divided on the question of crypto regulation. The previous suggestions of crypto-ruble launch have been put on hold so the legislators now are willing to wait and see how the future of crypto will play out.

The post Russian Weapon Manufacturer To Start Accepting Bitcoin appeared first on DC Forecasts – Leading Digital Currencies.


Source: dcforecasts
Russian Weapon Manufacturer To Start Accepting Bitcoin

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Russian Arms Manufacturers Dodge US Sanctions With Bitcoin

russia bitcoin

Soyuzmash, the Union of Machine Builders in Russia, has asked the for permission to accept Bitcoin and stablecoin payments for weapons deals. This, they claim, will help them to circumvent US and international sanctions.


A Difficult Environment For Selling Weapons

Soyuzmash Vice President, Vladimir Gutenev, told the advisory council on military-technical co-operation, that current conditions were tough. The environment is not a competitive one, due to strong sanctions pressure. Payments for weapons which have already been delivered could be delayed for months, and transactions are increasingly difficult.

However, Soyuzmash, backed by the State Duma defence commission, believes that allowing Bitcoin payments could alleviate some of the issues.

anonymous transactions are one of the possible ways to solving existing problems

The problem with this, of course, is that Russia’ Central Bank has been very vocal in not wanting to legalise Bitcoin.

Oh The Sweet Irony Of Bitcoin ‘Criminality’

One of the key issues many have with Bitcoin is its alleged use for purchasing illegal items on the dark web. So the illegality of Bitcoin in Russia preventing state-backed companies making morally questionable deals seems rather ironic.

Apparently, Gutenev has discussed the matter personally with Central Bank Chief, Elvira Nabiullina. Failing Bitcoin, Gutenev also proposed using a stablecoin if the Central Bank was more amenable to this. Nabiullina is currently considering the suggestions.

Russia is the second largest exporter of weapons worldwide, commanding 21% of the market, following the USA with 36%.

A recent report suggested that countries such as Russia, China, Iran, and Venezuela may already have long-term cryptocurrency strategies, to avoid US sanctions and Dollar hegemony.

Russia Still Struggling With Bitcoin Strategy

Meanwhile, it seems that the Duma is still divided over a coherent policy for cryptocurrency regulation. This, despite an intervention and 1st July deadline set by President Putin.

Previous suggestions of a crypto-ruble launch have been put on indefinite hold, and legislators now seem willing to simply watch how cryptocurrency plays out in other countries before putting any plans into action.

However, there was a call to rush through mining regulations, as energy providers were sitting on a surplus of supply. This could be provided to miners so that Russia did not fall behind other nations.

Do you think Russia will lift the Bitcoin ban to help it’s nation’s ? Let us know your thoughts in the comment section below!


Image via Shutterstock

The post Russian Arms Manufacturers Dodge US Sanctions With Bitcoin appeared first on Bitcoinist.com.


Source: bitcoinist
Russian Arms Manufacturers Dodge US Sanctions With Bitcoin

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Giant Russian Crowdfunding Platform to Accept IOST Cryptocurrency from Global Investors

IOST

The IOST Foundation, an organization supporting the ongoing development
of IOST (a scalable layer 1 network for mainstream online services),
has announced that it has successfully completed its integration with
Boomstarter.

Established in 2012, Boomstarter is among the biggest
platforms in Eastern Europe. As noted in the announcement, IOST’
cryptocurrency will be used to raise capital for various blockchain projects
listed on Boomstarter. 

800,000 Registered Users, 300,000 Unique Visitors Per Month

Since launch, Boomstarter has reportedly supported more than 2,000
different projects and has helped project founders and developers raise $7
million for various initiatives. The Boomstarter platform has attracted around
200,000 investors located throughout Eastern Europe.

At present, there are over 800,000 registered Boomstarter users and the
online platform receives approximately 300,000 new visitors each month.
According to the IOST Foundation, the widely-used crowdfunding platform may
soon be accessible to investors in India, Africa, and Latin America.

Accepting Payments in Bitcoin, Ether, IOST

IOST’s partnership with Boomstarter involves accepting investments from international investors that will different projects from indie creators, developers, and makers. Payments will be accepted in Bitcoin (BTC), Ether (ETH), and IOST.

Boomstarter’s management is also planning to support transactions with
iUSD, a stablecoin used by the IOST ecosystem. 

Non-Profit Healthcare Services Launched with Funds Raised on Boomstarter

One of Boomstarter’s most notable projects involved setting up and
covering operational costs of hospitals located in remote villages of Guatemala
and Nicaragua. Over $52,700 were raised through the crowdfunding platform via
two separate campaigns. 

Total capital acquired for the hospitals was 125% of the fundraising
target, with the initiative being backed by 1,919 different investors. The funds
from the campaigns
were used to establish a clinic in the mountains
of Guatemala. The non-profit clinic reportedly serves more than 700 patients
(mostly women and children) every month.

Another fundraiser supported by Boomstarter involved raising $32,000 in
order to fund the launch of a reflective satellite into space. The initiative
was introduced to promote interest and awareness about the importance of space
exploration.

One of the main objectives of using reflective satellites is to obtain
air density data, and learning how to brake satellites in orbit and “de-orbit
them.”

Boomstarter to Operate IOST Partner Node

In addition to supporting the IOST cryptocurrency on its platform, Boomstarter
will reportedly operate an IOST Partner Node. Boomstarter’s node was onboarded
into the crypto’s ecosystem by IOST BEST Node, which also helped in integrating
the IOST cryptocurrency onto the crowdfunding platform. 

According to P2PMarketData, the
Commonwealth of Independent States Region, which includes Russia, Ukraine,
Moldova, Belarus, and Armenia, has recorded the fastest crowdfunding growth in
Europe (465%) this year. 

Cryptocurrency transactions have also become increasingly popular in
European countries suffering from high levels of inflation. 

In an email sent to 8btc, Jimmy Zhong, the
Co-Founder of IOST, noted: 

“IOST views Russia and Eastern Europe as some of the most promising areas for expansion. Certain areas around the world — such as Eastern Europe and Russia — do not have as strong of a legacy financial system as the West or China, which means that the average citizen or small business entrepreneur may be overlooked and access to funding is quite limited.”

Zhong, a mathematics and computer science graduate from Emory
University, added: 

 “As the crypto markets develop over time, more cryptocurrency use cases will start to emerge prominently in areas such as P2P lending, business loans, collateral, and international payments.”

Russian Smelting Giant Nornickel to Launch Digital Trading Platform by End of 2019

Nornickel will roll out its digital trading platform for metals by the end of 2019


Source: cointelegraph
Russian Smelting Giant Nornickel to Launch Digital Trading Platform by End of 2019

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Russian Ministry of Finance Considers Allowing Cryptocurrency Trading

of is considering allowing cryptocurrency trading in the Federation
Source: worldnewsoffice
Russian Ministry of Finance Considers Allowing Cryptocurrency Trading

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Russian Central Bank: Criminals Rarely Use Crypto to Withdraw Stolen Funds

A official said that criminals rarely use cryptocurrency to withdraw stolen money


Source: cointelegraph
Russian Central Bank: Criminals Rarely Use Crypto to Withdraw Stolen Funds

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