Singapore-based cryptocurrency exchange Huobi has officially launched its first branch in Russia on Thursday, Dec. 6, according to a press release shared with Cointelegraph today. The Moscow-based exchange, dubbed Huobi Russia, is established in partnership with the state-owned Russian Development Bank’s (VEB) Digital Transformation Center and supported by Huobi’s regional exchange partnership program, Huobi Cloud. The Center of Digital Transformation was created by VEB to promote blockchain and other crypto-related technologies, as its website states. Back in September of this year, Huobi first joined Russia’s VEB Innovation Fund and became a resident of the Digital Transformation Center to share experience …
TCS Group, the owner of the major private Russian bank Tinkoff, is gaining exposure to digital assets. The firm has invested in Swiss digital asset service provider Aximetria, which is set to become the company’s first major crypto-related outfit, local news agency The Bell reported Wednesday. Citing data from Aximetria, the report suggests that TCS purchased 4,449 Aximetria shares worth 100 Swiss francs ($108) per share. Given that Aximetria’s total share capital was about 535,000 francs ($578,000), the publication reported TCS’ stake to be around 83.2%. A spokesperson for Tinkoff confirmed the news to Cointelegraph, stating that Aximetria will be …
As the West continues to impose more sanctions against Russian banks following Russia’s invasion of Ukraine, one Ukrainian official has called for sanctions on Russians’ cryptocurrency holdings as well. Mykhailo Fedorov, Ukraine’s Minister of Digital Transformation, took to Twitter on Sunday to urge the global cryptocurrency exchanges to block addresses of Russian users. He emphasized that exchanges should freeze not only the addresses tied to Russia and Belarus officially but also to “sabotage ordinary users.” I'm asking all major crypto exchanges to block addresses of Russian users. It's crucial to freeze not only the addresses linked to Russian and Belarusian …
Finland-based cryptocurrency firm Prasos has secured a payment institution license via the Finnish Financial Supervisory Authority (FFSA). The news comes by way of an official announcement via its crypto exchange website on July 12. According to the announcement, Prasos is now the third crypto firm in Europe to secure a payment institution license. According to its website, Prasos operates a crypto exchange, a crypto investment platform, and Bitcoin (BTC) ATMs. Prasos stated that, thanks to its new license, its crypto investment platform Coinmotion is now capable of supporting a payment service in the European Economic Area, which includes EU member …
In the end of May 2019, the Central Bank of Egypt (CBE) announced that it is working on a draft law for crypto-related activities. When introduced, it will oblige financial institutions in the country to obtain licenses in advance for creating, advertising or operating platforms that issue or facilitate trading of cryptocurrencies. Licenses will be issued by the CBE’s board of directors. This marked the first step the Egyptian government made toward the legalization of activities related to cryptocurrencies. Is Egypt defining its stance on crypto? The state’s attitude toward the new sector of the economy, especially the financial structures …