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Russia ready to regulate, not ban cryptocurrencies

by UNTV News   |   Posted on Thursday, January 25th, 2018

FILE PHOTO: A coin representing the bitcoin cryptocurrency is seen on computer circuit boards in this illustration picture, October 26, 2017. REUTERS/Dado Ruvic/File Photo

MOSCOW (Reuters) – Russia’s Finance Ministry said on Thursday it was working on legislation to regulate cryptocurrency transactions without fully banning them or legalising digital FX as a means of payment in Russia.

Russia had initially said it would ban crypto-currencies as they could be used to launder money and finance terrorism. But as such currencies and particularly Bitcoin grew popular worldwide, Russian authorities have changed tack.

The ministry said it had prepared a bill that would permit trade in cryptocurrencies through digital exchanges which met certain conditions and would also cover initial coin offerings (ICOs).

Doing this, the ministry said, would reduce the risk of fraud and make it possible to tax cryptocurrency transactions to support the state budget.

The ministry highlighted that digital currencies and tokens would not be allowed to replace the Russian rouble.

“It should be noted, that the use of cryptocurrencies in the territory of the Russian Federation as a means of payment is not being suggested,” the ministry said in a statement.

Authorities around the world, particularly in Asia, have attempted to rein in the global boom in trading bitcoin and other cryptocurrencies – a form of digital money created and maintained by its users.

Chinese authorities have banned initial coin offerings and shut down local trading platforms, while South Korea – where speculation on cryptocurrencies is also rife – is working on plans to ban virtual coin exchanges.

The Russian ministry stopped short, however, of proposing a full ban.

“Trades with cryptocurrencies have become so widespread, a legal ban on such activity would lead to the creation of conditions for the use of cryptocurrencies as an instrument to service illegal businesses, launder criminal incomes, and finance terrorism,” the Russian ministry said.

Reporting by Andrey Ostroukh and Jack Stubbs; Editing by Toby Chopra

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Trump tries to calm political storm over Putin summit, says he misspoke

by UNTV News   |   Posted on Wednesday, July 18th, 2018

 

 

U.S. President Donald Trump. REUTERS/Leah Millis

U.S. President Donald Trump tried on Tuesday (July 17) to calm a storm over his failure to hold Russian President Vladimir Putin accountable for meddling in the 2016 U.S. election, saying he misspoke in a joint news conference in Helsinki on Monday.

Trump stunned the world by shying away from criticizing the Russian leader for Moscow’s actions to undermine the election and cast doubt on U.S. intelligence agencies, prompting calls by some U.S. lawmakers for tougher sanctions and other actions to punish Russia.

“I said the word ‘would’ instead of ‘wouldn’t,'” Trump told reporters at the White House, more than 24 hours after his appearance with Putin. “The sentence should have been, ‘I don’t see any reason why it wouldn’t be Russia.'”

Trump, who had been given numerous opportunities to publicly rebuke Putin in Helsinki, praised the Russian leader during the news conference for his “strong and powerful” denial of the conclusions of U.S. intelligence agencies that the Russian state meddled in the election.

Although he faced pressure from critics, allied countries and even his own staff to take a tough line, Trump spoke not a single disparaging word in public about Moscow on any of the issues that have brought relations between the two nuclear powers to the lowest ebb since the Cold War.

The political firestorm over his performance at the Helsinki news conference has engulfed the administration and spread to his fellow Republicans, eclipsing most of the frequent controversies that have erupted during Trump’s turbulent 18 months in office. -Reuters

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Russians overjoyed following sensational World Cup victory

by UNTV News   |   Posted on Friday, June 15th, 2018

Soccer Football – World Cup – Group A – Russia vs Saudi Arabia, Rostov-on-Don, Russia – June 14, 2018 Fans celebrate fifth goal. REUTERS/Marko Djurica

 

 

Russian fans were all smiles leaving the Moscow’s Luzhniki Stadium on Thursday following Russia’s resounding victory over Saudi Arabia.

Saudi nationals remained gracious following their team’s defeat, maintaining that participation in the tournament was its own reward.

The World Cup opener was anticipated to be anticlimactic as both national teams are among the lowest ranking teams in the tournament. But the teams’ rankings did not detract from the entertainment, as Russia beat Saudi Arabia 5-0.

The match was the first of 64 that will be played in Russia as part of the tournament. —Reuters

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Teams arrive in Russia as World Cup nears

by UNTV News   |   Posted on Wednesday, June 13th, 2018

Nigeria coach, Gernot Rohr standing with players, posing for photograph. Image grabbed from Reuters video

Various teams arrived in Russia on Monday (June 11) and the early hours of Tuesday (June 12) just a few days before the opening match of the 2018 FIFA World Cup between Russia and Saudi Arabia.

Nigeria touched down in Mineralnye Vody early on Tuesday wearing traditional Nigerian dress in the colors of the national team.

On Monday, Mexico arrived in Moscow, Switzerland landed in Samara and Serbia flew into Kaliningrad.

The World Cup begins on Thursday (June 14) when the hosts, Russia face Saudi Arabia at Moscow’s Luzhniki Stadium. — Reuters

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