Unknown parties are transferring evidence related to a criminal case involving a large amount of bitcoin in Russia to crypto exchanges, according to blockchain intelligence firm Crystal Blockchain. The case involves a disgraced law enforcement officer who allegedly extorted bitcoin from hackers.

June 26 (Cointime) - There was a brief mercenary insurgency in Russia, and the Russians appeared to seek refuge in the stablecoin Tether in exchange for rubles. Despite relatively low overall traffic, trading volumes for the ruble-denominated Tether stablecoin roughly tripled on June 24 on digital asset exchanges that still support trading in the Russian currency, according to blockchain data firm CCData. to about $15 million. According to CCData, the largest ruble trading platforms this month are Binance, Cryptonex, HitBTC and Coinsbit. The United States and its allies imposed financial sanctions after Russia invaded Ukraine last year.

June 24 (Cointime) - Reports suggest that there may be a military coup in Russia, which could have significant geopolitical implications in light of the ongoing conflict in Ukraine.

June 24 (Cointime) - According to experts, Russia is becoming a popular destination for crypto mining due to its relatively low electricity tariffs, surplus energy reserves, and proximity to China for faster and cheaper delivery of mining equipment. BitRiver, a Russian mining giant, claims that Russia has 1GW worth of crypto mining capacity, surpassing its neighbors Kazakhstan and China. However, the Cambridge Centre for Alternative Finance Bitcoin electricity consumption index projected Russia's monthly hashrate at less than 5% of the global total, while the United States posted almost 38%. Despite this, some experts believe that Russia has the necessary conditions to become an attractive location for cryptocurrency miners, especially with regulatory transparency and understanding in the sector.

June 20 (Cointime) - Russia's Ministry of Energy is advocating for the legalization of industrial cryptocurrency mining and is urging lawmakers to pass a mining-related bill. The ministry supports the legalization of mining and expects taxation to be introduced for miners.

The South African Reserve Bank (SARB) has issued a warning about the potential risks to the nation's financial stability due to perceived ties with Russia, which could result in secondary sanctions. The SARB has expressed concerns that South Africa's position may jeopardize the global involvement of its financial institutions. The recent grey-listing by the Financial Action Task Force (FATF) has also increased the risk to financial stability. The SARB has cautioned that even if secondary sanctions are not imposed, foreign counterparts of South African financial institutions may cut back on their exposure to the country as a measure of risk management. South African financial institutions will be closely monitoring the situation to minimize the impact on their operations and the nation's economic stability.

According to Anatoly Aksakov, the chairman of Russia's State Duma Committee on Financial Markets, crypto exchanges will be utilized for cross-border transactions to bypass international sanctions. Despite not being a government member, Aksakov's statement should be considered official. Russia's relationship with cryptocurrencies has been complex, with the central bank initially banning their use. However, the partial failure of China's digital yuan may have prompted Russia to reconsider their stance on cryptocurrencies. A new bill will be introduced to regulate the use of crypto exchanges for international cryptocurrency transactions, which are currently de facto prohibited.

Russia has abandoned its plans to create a national cryptocurrency exchange and will instead focus on formulating regulations for private companies to establish such exchanges. The exchanges will be regulated by local regulations to prevent them from being used to bypass sanctions. The Russian Central Bank will introduce new regulations for their operations before the end of the year. Crypto stakeholders in Russia support the decision, believing that it will enable competitive development and innovation within the industry while protecting users.

The Central Bank of Russia has released a report highlighting the potential for further development in the growing digital assets industry. The report predicts a significant increase in the issuance of digital financial assets (DFAs) in Russia, citing their transparency and user-friendliness as key factors. The bank also anticipates the emergence of new types of digital assets that will cater to specific business needs, expanding the digital asset space in Russia beyond existing offerings. As the regulatory framework continues to develop, the digital assets sector in Russia is projected to flourish, offering alternative funding opportunities for businesses impacted by financial sanctions.

Russia is working to develop an alternative to the SWIFT system in order to create a more independent financial architecture and de-dollarize its economy. The country is collaborating with other nations to create a national payment system that is not reliant on SWIFT.