Local Russian media outlets reported on Monday that Bitzlato co-founder Anton Shkurenko was detained in Moscow on Feb. 6 at the request of Interpol. However, according to a Feb. 10 report from CoinDesk, Shkurenko was stopped and detained by the local police for an ID check, then promptly let go after a conversation. Shkurenko said he is not involved in any criminal cases in Russia. He reportedly commented, while not disclosing details of the investigation: “I hope I convinced the prosecutor of my innocence.” He did not specify the sector of law enforcement that detained him, though he mentioned he …

Russia continues sending mixed messages about the legal status of cryptocurrency, with a parliament official urging the launch of crypto trading on the country’s largest stock exchange. The Moscow Exchange (MOEX) is the best match for hosting a regulated crypto exchange in Russia, according to Anatoly Aksakov, head of the Russian Banking Association and a financial committee within the State Duma. At a recent press conference, Aksakov stressed the importance of building a crypto exchange under the strict requirements of the Russian central bank, local news agency Prime reported on Thursday. The lawmaker pointed out that MOEX is likely to …

The Russian cryptocurrency market has grown to hundreds of billions of dollars despite the absence of sufficient cryptocurrency regulation, according to a major industry executive. Sergei Khitrov, founder of the Russian cryptocurrency event Blockchain Life, gave a keynote speech on the state of cryptocurrency regulation in Russia at the VII Blockchain Life Forum in Moscow on Oct. 27. Based on his own industry insights and knowledge of the market, Khitrov estimated the Russian crypto market to be worth as much as 40 trillion rubles, or more than $550 billion. He also claimed that Russian crypto businesses could generate as much …

A group of Russian experts is working on a new blockchain-based service to allow users to bequeath their cryptocurrency holdings and digital rights to the next generation. The National Technological Initiative (NTI), a global technical leadership program in Russia, announced a new digital inheritance tool based on blockchain technology, local news agency RIA Novosti reported Tuesday. The initiative brings together experts from three local universities, including Lomonosov Moscow State University, the National Research Nuclear University and the Moscow State Institute of International Relations. Dubbed “Time Capsule,” the service would allow users to store digital data and assets like social media …

A major Bitcoin (BTC) ad scam involving unauthorised images of Australian celebrities who seemingly promoted fake investment schemes is allegedly coming from Russia, according to a new report. Fraudulent Bitcoin ads capitalizing on Australian celebrities like Dick Smith and Andrew Forrest are part of an organized global business that uses at least five addresses in Moscow, an investigation by The Guardian asserts. On Dec. 13, The Guardian published a report providing more details about a major Bitcoin ad scam that has run on news websites since at least 2018. As previously reported, the scam involved fake articles using unauthorised images …

Experts suggest that blockchain technology could have been a better solution for handling coronavirus-related data in Russia. Moscow’s COVID-19 App is pulled from Google Play On March 25, an app called “Social monitoring” appeared in Google Play store. According to the app’s description, it was designed for social monitoring as well as for providing access to emergency services. Users soon noticed that the app required many sensitive permissions, including geolocation, bluetooth pairing, biometric data, and calls. Notably, the data was also being openly transmitted without encryption. The backlash against the app led to a 1-star rating on Google Play by …

Russia’s third-largest food retail firm, Dixy, has implemented blockchain technology in its corporate finance system, according to a press release shared with Cointelegraph on June 5. The Moscow-based retailer has deployed blockchain in cooperation between suppliers and factoring firms, which represent third parties that purchase businesses’ invoices at a discount in order to help those businesses to raise funds. Specifically, following a successful pilot test, Dixy is now moving the interactions between suppliers and factoring companies to an Ethereum (ETH) blockchain-powered open trade finance platform called Factorin. The Factorin platform provides suppliers with a factoring management tool that can be …

Authorities of Moscow are planning to pilot blockchain-based electronic voting in university student council elections in late June 2019, establishing methods that the city’s mayoral election may be next to apply, Russian news agency TASS reported on May 6. According to the report, the project is set to be tested with the support of the Moscow Department of Information Technology (DIT) and the Moscow City Election Commission (Mosgorizbirkom). DIT deputy head Artem Kostyrko revealed that technical specifications for the pilot program will go to Mosizbirkom in mid-May for approval. Once the necessary legislation is passed and the commission approves the …

Moscow and three other Russian regions will legally pilot the use of cryptocurrencies and blockchain technology, local media outlet Izvestia reports on April 24. The Russian Ministry of Economic Development is reportedly planning to test now-unregulated emerging technologies such as blockchain and crypto, as well as augmented and virtual reality, quantum tech, artificial intelligence and robotics. As Izvestia wrote, the currently unregulated technologies are planned to be tested as an experiment in Moscow, the Kaliningrad and Kaluga Oblasts, and Perm Krai in order to accelerate the adoption of new tech solutions. Specifically, the experiment is set to be carried out …

Only 2% of Russians have invested in Bitcoin (BTC) so far, according to a new survey by the Russian Public Opinion Research Center (VTsIOM) published on April 9. The VTsIOM, the oldest polling institution in post-Soviet Russia, revealed that Bitcoin has not gained popularity in the country, with two thirds of Russians considering a purchase of the cryptocurrency as a bad investment. The research center has not provided either a time frame for the poll, or the number of total respondents involved in the survey. With that, 56% of Russians claimed that they were aware of Bitcoin, while 18% said …

The Moscow municipal government is planning to launch a blockchain-based city innovation cluster by summer 2019, Russian news agency TASS reports on Feb. 11. The upcoming platform for the city’s IT innovation cluster will enable participants to find potential partners, as well as learn about their products and equipment, according to Alexey Fursin, Head of the Department of Business and Innovation of Moscow. Fursin noted that the platform’s entrants will be also be able to receive financial support through grants from the Moscow government. According to the official, the upcoming platform is based on the state-supported city navigation hub dubbed …

The Moscow Stock Exchange plans soon to begin the trading of digital currencies. The exchange will also list derivatives and exchange-traded funds (ETF) based on different cryptocurrencies. The exchange is currently creating an infrastructure to trade Bitcoin and other virtual currencies as of August 2017. The move comes after Russia seemingly banned ‘ordinary people’ from buying cryptocurrency. Based on a report by Russian state-owned news agency Tass, the exchange has claimed that a platform for the post-trading of cryptocurrency assets is already in the works. Part of the exchange’s statement reads: “We are already working on creating an infrastructure for …