Russia

The State Duma, the lower house of the Federal Assembly of Russia is a very powerful institution, with the right to approve bills and laws. One of its members has claimed that bitcoin must be prohibited all over the world.

Russia’s version of Facebook, VKontakte (VK), is considering making its own cryptocurrency. Currently, the project is underway, though the final conclusion has not yet been reached. VK claims it has got more than 97 million lively monthly users.

Russia’s Central Bank plans to put a yearly limit on so-called “unqualified investors” who are willing and able to buy cryptocurrency, as reported by RBC – a local business news outlet. The bank wants to impose new regulations on digital currency.

President of the Russian Federation, Vladimir Putin, has asked his government to draft blockchain and crypto regulations no later than July 1, 2019.

The head of Iran’s Trade Promotion Organization (ITPO) has said that the country is in talks with senior representatives from 8 nations to begin transactions with its ‘IranCoin’ - the newly created State-backed digital currency, Crypto-Rial, according to Tehran Times, a local news outlet.

To find a way to outplay sanctions and enhance adoption of digital currency, Russia’s authorities are considering a new draft law which will allow certain businesses and entities to perform payments with the help of cryptos such as Bitcoin and Ethereum.

The deputy governor of the central bank of Russia, Sergei Shvetsov, revealed that his financial institution will underprop endeavours to block and stop access to external websites trading cryptoassets in Russia.

A new bill regulating investments in initial coin offering (ICO) projects will take force soon. Government officials have released a draft law stating that average Russians will be allowed to invest in ICO no more than $9,000 per year.

The Central Bank of the Russian Federation has revealed a fraudulent financial system called Cashberry. The project was aimed at inducing people to invest their money in the scam scheme, offering highly lucrative returns on fiat and crypto investments.