ChainCatcher news, a bill has been submitted to the State Duma of Russia, aimed at mandating banks and merchants to use the digital ruble while implementing a universal QR code payment system. The bill is spearheaded by a group of senators and deputies, including Anatoly Aksakov, the chairman of the Duma's Financial Market Committee, and has been officially submitted to the lower house's electronic database.The proposal outlines a phased rollout plan for the digital ruble, starting on July 1, 2025, initially launching in systemically important banks (banks critical to the stability of the national economy) and expanding to all banks by 2027. Merchants will also be required to accept the digital ruble to encourage public usage. By July 2025, businesses with annual revenues exceeding 30 million rubles must enable digital ruble payments, with the threshold dropping to 20 million rubles by July 2026. Businesses in areas without mobile or internet access are exempt from this requirement.The bill, in conjunction with the universal QR code system, simplifies the payment process to facilitate seamless use of the digital ruble. Amendments to consumer protection laws require merchants to comply with regulations to ensure broader adoption. Additionally, credit institutions and foreign bank branches participating in the platform are obligated to support these transactions.

ChainCatcher news, according to Jinshi reports, the Russian Finance Minister stated that Russia is using Bitcoin in foreign trade.Russian Finance Minister Anton Siluanov stated that after legislative adjustments allowed the use of Bitcoin and other digital currencies to respond to Western sanctions, Russian companies have begun using these currencies in international payments. This year, Russia has allowed the use of cryptocurrencies in foreign trade and has taken steps to legalize cryptocurrency mining, including Bitcoin. Russia is one of the leading countries in global Bitcoin mining.Siluanov said, "Such transactions are already taking place. We believe that such transactions should be further expanded and developed. I believe this will be the case next year. The use of digital currencies for international payments represents a future trend."

ChainCatcher news, the Russian Investigative Committee stated that in Moscow, a bomb hidden on an electric scooter killed a senior Russian general responsible for nuclear protection forces.General Igor Kirillov is the commander of Russia's nuclear, biological, and chemical protection forces, and he was killed outside an apartment building on Ryazan Street, about 7 kilometers southeast of the Kremlin. The Investigative Committee stated, "Kirillov and his assistant were murdered." This incident has been registered as a criminal case.

ChainCatcher news, according to CryptoBriefing, a Russian lawmaker has proposed the establishment of a national Bitcoin reserve to hedge against geopolitical risks and sanctions. Anton Tkachev, a member of the "New People" party in the State Duma of Russia, submitted a formal appeal to Finance Minister Anton Siluanov, suggesting the creation of a Bitcoin reserve similar to traditional national currency reserves. Tkachev wrote in the appeal, "For countries under sanctions, cryptocurrencies have effectively become the only tool for international trade due to difficulties in accessing traditional international payment systems." This proposal comes at a time when Russia is facing restricted access to the global financial system due to sanctions.Tkachev emphasized that traditional foreign exchange reserves are vulnerable to sanctions, inflation, and volatility, which could threaten Russia's financial stability. He pointed out that modern challenges require the introduction of new payment processing systems and alternative reserve storage tools, mentioning cryptocurrencies like Bitcoin that are independent of any single country. The lawmaker specifically referred to the possibility of Bitcoin reaching $100,000 by December 2024, highlighting its potential as a store of value and investment asset.Tkachev added that this initiative aligns with the efforts of the Central Bank of Russia to incorporate digital assets into cross-border payments and emphasized the increasing importance of cryptocurrencies as viable tools for international trade. The implementation of this measure would require significant policy adjustments and coordination among government agencies, including the central bank and financial regulatory bodies.

ChainCatcher news reports that a survey conducted by the Russian state news agency TASS shows that Russian investors expect Bitcoin to potentially rise to $160,000 in this cycle, but it is unlikely to double to $200,000 in the short term.As for the reasons behind Bitcoin's recent rise, analysts point to macroeconomic changes, such as the Federal Reserve's interest rate cuts after a prolonged tightening phase, as well as increasing global liquidity and inflation concerns, all of which may drive investors toward scarce assets like Bitcoin. Institutional adoption is also a significant factor, including large-scale purchases by companies like MicroStrategy and BlackRock.Despite the market's enthusiasm, analysts remain cautious about Bitcoin's long-term prospects. Some respondents believe there are two possible scenarios for Bitcoin's future: one is a "conservative target" of $130,000, and the other is a more bullish ceiling of reaching $160,000 by mid-summer 2025. However, they unanimously agree that it is unlikely to reach $200,000 in the current cycle.

ChainCatcher news, according to reports from Reuters and Polish media Rzeczpospolita on December 6, Polish authorities have arrested the former CEO of the Russian cryptocurrency exchange WEX in downtown Warsaw. The man's name is Dmitry V. He is suspected of engaging in fraud and money laundering activities during his management of WEX, which collapsed in 2018.A spokesperson for the Polish police told Reuters, "The man is currently in custody, awaiting the completion of the extradition process. If extradited to the United States, Dmitry V could face charges carrying a maximum sentence of 20 years in prison."

ChainCatcher news, according to reports from Reuters and Polish media Rzeczpospolita on December 6, Polish authorities arrested the former CEO of the Russian cryptocurrency exchange WEX in downtown Warsaw. The man's name is Dmitry V. He is suspected of engaging in fraud and money laundering activities during his management of WEX, which collapsed in 2018.A spokesperson for the Polish police told Reuters, "The man is currently in custody, awaiting the completion of the extradition process. If extradited to the United States, Dmitry V could face charges carrying a maximum sentence of 20 years in prison."

ChainCatcher news, Russian President Vladimir Putin announced that Russia will integrate its Central Bank Digital Currency (CBDC)------the digital ruble into the federal budget system starting next year, with the goal of nationwide promotion by July 1, 2025.Putin emphasized the ongoing efforts to improve corporate efficiency, highlighting infrastructure development aimed at reducing costs and streamlining operations. This initiative aligns with Russia's efforts to strengthen the ruble's position in international transactions. This move is part of the country's strategy to modernize its financial system and adapt to digital advancements, ensuring a seamless and cost-effective budget process.

ChainCatcher news, a Russian court has sentenced the founder of the online black market and cryptocurrency mixing service Hydra, Stanislav Moiseev, to life imprisonment. The service processed over $5 billion worth of cryptocurrency during its operation.According to a statement from the Moscow Prosecutor's Office on December 2, the Moscow Regional Court found Moiseev and his 15 accomplices guilty of organized crime and illegal production and sale of psychoactive substances and drugs. The sentences for Moiseev's 15 accomplices ranged from 8 to 23 years. Moiseev was also fined $38,100 (4 million rubles), while his 15 accomplices were ordered to pay a total of $152,400 (16 million rubles). As part of the sentencing order, properties and vehicles related to the convicted individuals were also seized.According to Russian state media TASS, they will serve their sentences in a "strict regime" penal colony.

ChainCatcher news, according to TASS, Russian President Vladimir Putin has signed a law regulating the taxation of digital currencies.According to the law, digital currencies are recognized as property. This also applies to currencies used for foreign trade payments within the framework of the "Experimental Legal Regime (EPR) in the field of digital innovation." The mining and sale of digital currencies are exempt from value-added tax. Operators of mining infrastructure must report to the tax authorities the issuance of cryptocurrencies using their services. Failure to timely transmit such information may result in a fine of 40,000 rubles.In terms of personal income tax, digital currencies obtained through mining will be classified as tangible income (a term typically used when payment is made using goods or services rather than currency). The value of the income will be determined based on market quotes. Such income will be taxed at the usual progressive tax rates, taking into account tax deductions for the amount of mining expenses.At the same time, income from the acquisition, sale, or other circulation of digital currencies will be taxed at a two-tier personal income tax rate (13% for income up to 2.4 million rubles, and 15% for income exceeding this amount). They will be included in the same tax base as income from transactions with securities, bank deposits, and other sources. Regarding corporate income tax, digital currency mining will be taxed at the standard rate (25% starting in 2025).

ChainCatcher news, the Russian Ministry of Industry has called for a postponement of the launch of digital ruble payments, emphasizing insufficient infrastructure readiness. The ministry expressed concerns about the challenges businesses may face in meeting the 2025 deadline, which requires large retailers to accept central bank digital currency (CBDC) payments. The ministry believes that a hasty transition due to inadequate preparation could harm business operations.The draft law requires large retailers to adopt digital ruble payments by July 2025, while the deadline for small businesses will be later, depending on their annual revenue.The Ministry suggested postponing this by two years to allow businesses enough time to complete operational guidelines, update software, and train employees.

ChainCatcher news, according to Cryptonews, the Russian Federal Tax Service has confirmed that Russian companies are applying for cryptocurrency mining licenses, with 150 applications submitted so far. The head of the Federal Tax Service, Daniil Egorov, stated that these applications were all submitted after November 1. Registrants must provide the Federal Tax Service with the cryptocurrency assets they mine, cryptocurrency wallet addresses, and other data.Private miners with a monthly electricity consumption of no more than 6,000 kilowatt-hours (kWh) are exempt from registration.

ChainCatcher news, according to Cryptoslate, Russian President Putin proposed the establishment of a digital asset platform for BRICS countries during a speech at the Valdai Discussion Club, aiming to promote electronic payments and attract investment from developing markets through a unified digital asset system. This initiative is intended to facilitate investment flowing into emerging economies in South Asia, Africa, and Latin America, and could provide new channels for capital in high-growth regions.Putin emphasized the platform's potential to drive economic development in rapidly urbanizing areas. He highlighted the growth opportunities in these regions and pointed out that factors such as population growth, capital accumulation, and rising urbanization rates support the platform's focus.Putin discussed Russia's restrictions on dollar transactions due to sanctions and noted that Russia does not intend to completely abandon the dollar. Instead, he criticized the U.S. policies that limit the use of the dollar in international markets and stated that alternatives like the proposed BRICS digital asset platform could reduce dependence on the traditional Western financial system.

ChainCatcher news, the Federal Financial Monitoring Service of the Russian Federation (Rosfinmonitoring) emphasized that even if the Financial Action Task Force (FATF) decides to blacklist Russia, its anti-money laundering system will continue to operate effectively. Previous assessments mentioned issues related to virtual currency regulation, but Rosfinmonitoring insists that these issues have been resolved.According to TASS, the regulatory agency stated: "The Russian Federation has improved its ratings on three FATF recommendations, with only one being downgraded to 'partially compliant' due to insufficient legislative regulation in the field of virtual currency circulation."However, Rosfinmonitoring pointed out that since these assessments, Russia has passed two federal laws to strengthen its digital currency regulatory framework. The agency added: "Since then, the Russian Federation has passed two federal laws regulating the circulation of digital currencies."It is reported that the FATF is an intergovernmental organization that sets global standards for anti-money laundering and combating the financing of terrorism. Whether Russia will be blacklisted will be discussed at the FATF plenary meeting from October 21 to 25.

ChainCatcher news, according to Decrypt, former Russian investigator Marat Tambiyev was sentenced to 16 years in prison for accepting approximately $73 million in Bitcoin bribes during an investigation into organized crime. This amount exceeds five times the highest bribe amount in Russian history.Marat Tambiyev is accused of transferring half of the criminal gang's Bitcoin into his own wallet, leaving the other half for the criminals. Investigators found the Bitcoin wallet keys in a folder on his laptop named "Pension."Marat Tambiyev insisted on his innocence in court, arguing that his actions helped the state recover part of the criminal gang's proceeds. According to Russian state media, he plans to appeal this verdict. Currently, one-third of the Bitcoin stored on Marat Tambiyev's computer has been recovered, while the whereabouts of the remaining portion remain unclear.

ChainCatcher news, Russian Deputy Foreign Minister Sergey Ryabkov stated that it is still too early to discuss a unified currency due to the differences in financial regulation among BRICS member countries.Instead, the focus remains on strengthening financial sovereignty and exploring trade in local currencies. Ryabkov emphasized that BRICS countries are working to enhance their economic independence, and authorities are actively committed to establishing interconnected financial markets.

ChainCatcher News, the U.S. government has sanctioned two Russian cryptocurrency exchanges, PM2BTC and Cryptex, related to underground financial activities, as well as two individuals.The Financial Crimes Enforcement Network (FinCEN) of the U.S. Treasury Department has designated PM2BTC and its associated individual Sergey Ivanov as "primary money laundering concerns," as the exchange is suspected of handling proceeds from ransomware and other illegal activities. Cryptex is alleged to be linked to Russian cybercriminals, involved in over $720 million in illegal transactions.The U.S. Secret Service Cyber Investigations Division, Dutch police, and the Dutch Financial Intelligence and Investigation Service have seized the network domains and infrastructure associated with PM2BTC, Cryptex, and Ivanov.

ChainCatcher news, according to Cointelegraph, since Binance announced its exit from Russia in September last year, the traffic to its local website has significantly decreased.According to data shared by web analytics platform SimilarWeb, from August 2023 to July 2024, Binance's website traffic in Russia dropped by 43%. Despite this noticeable decline, Russia remains one of the largest sources of traffic for the Binance website during this period, accounting for 6% of its total visits. The traffic share from Russia is comparable to other major markets for Binance, including Turkey and Vietnam, which account for 8% and 6.6% of its total traffic, respectively. Binance declined to disclose whether its significant traffic share in Russia or certain services offered to Russian users indicates that the company is still operating or resuming operations in the market.A Binance spokesperson stated, "We will continue to provide services to a limited number of existing Russian users to ensure the safety of their digital assets." The Binance representative emphasized that the cryptocurrency exchange "complies with global sanctions regulations" and "fully adheres to the restrictions on individuals, entities, and countries that are subject to international sanctions."

ChainCatcher news, according to Cryptonews, the Moscow police in Russia have shut down a "cross-border" cryptocurrency exchange that pretended to be a travel agency, suspected of helping clients transfer funds abroad.The police stated that the exchange processed approximately $2.2 million in cryptocurrency transactions for Russian clients and charged a 1% commission. During the raid, the Ministry of Internal Affairs seized a large amount of cash, receipts, and equipment.The police have charged one "mastermind," and the case is still under investigation, with authorities searching for other accomplices.

ChainCatcher news, a man in Russia has been arrested for sending cryptocurrency to the Ukrainian armed forces and is facing charges of treason. A video of the arrest released by the Federal Security Service of the Russian Federation (FSB) shows agents pinning the man to the ground and detaining him. According to Russian media outlet "Novaya Gazeta," the cryptocurrency is alleged to have been used for "purchasing weapons, ammunition, and military uniforms."It is currently unclear what penalties the unidentified men would face if convicted.