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Crypto
Russia cracks down on nine cryptocurrency exchanges in Moscow
Russia has cracked down on nine unregistered cryptocurrency exchanges in Moscow and detained about 20 staff, Cointelegraph reported on Aug. 7. The Federal Security Service raided the Moscow International Business Center over suspected money laundering linked to Ukraine-based scam call centers. Authorities believe the exchanges converted money taken in phone scams into cryptocurrency and sent it abroad, transferring funds to accounts the FSB identified as run by Ukrainian operators.
Crypto
Russia steps up crackdown on illegal crypto trading with jail terms for violations
Russia is moving to criminalise cryptocurrency trading conducted outside its regulatory framework. A draft approved by the Moscow city government would introduce penalties for organising digital asset distribution without registration or a licence from the central bank. Proposed punishments include fines and forced labour, rising to up to 7 years in prison and a 1 million rouble fine for organised crime or large-scale damage. Broader crypto rules are expected from 2026, with criminal provisions from 2027.
Crypto
Global companies eye stablecoin payments as regulatory frameworks key
Stablecoins are taking hold in business-to-business payments, but regulatory and infrastructure barriers still limit wider use. BeInCrypto reported that cross-border payment frictions are driving interest, though rules remain a hurdle. ECB data show delays and fees in retail cross-border transfers, and G20 targets face doubts. Advocates cite stablecoin programmability and large transaction volumes. The Fed, IMF, EU and FSB have highlighted risks and moved to strengthen oversight.