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Crypto Conference for Women to Be Held in Moscow

April 17, 2018 |

Crypto Conference for Women to Be Held in Moscow

A conference dedicated to raising awareness among women about cryptocurrencies is scheduled to take place in the Russian capital this month. The speakers at the event, also women, will share practical information on cryptos, blockchain technologies, and investment opportunities. The event will be live-streamed in 74 countries.

Also read: Cryptocurrency Is the Main Income for 12% of Russian Crypto Users

Women Advising Women

The “Crypto Conference for Women” will be held on April 28-29, at the Zolotoe Koltso hotel in Moscow, where experts and entrepreneurs will tell participants what cryptocurrency is and how it works. 24 female speakers will share advice on how to start with an initial investment and recommendations on storage options. The latest developments in the crypto world will be presented to the audience, along with other useful information.

Crypto Conference for Women to Be Held in Moscow

An advanced course has been prepared for attendants with prior experience in blockchain technologies, Initial Coin Offerings (ICOs), or other crypto-related projects. Its program is tailored to increase their knowledge to a more professional level. Anastasia Pilipchuk, founder of the Crypto Lady Association and organizer of the event, told Bitnovosti:

Women can earn through cryptocurrencies much easier than it looks at first sight. Cryptocurrency is simply made for women.

The guest lecturers intend to discuss the crypto perspectives in Russia for the next two years. They will be largely determined by the legislation currently under review in Russia’s parliament. Two draft laws have been introduced in the State Duma. One of the bills, “On Digital Financial Assets”, is expected to legalize ICOs and cryptocurrency mining in the country. The second one is supposed to regulate the use of cryptocurrencies in payments, and also amend the civil code to protect investors’ interests and rights.

Only 7% of Russian Crypto Users are Women

In Russia, cryptocurrencies like bitcoin have enjoyed increasing popularity over recent months and years. According to the Russian Association of Cryptocurrencies and Blockchain (RACIB), ICOs with Russian participation account for 10% of the global market. Token sales conducted by Russian projects have attracted $ 310 million dollars in 2017, according to a report released in January.

Crypto Conference for Women to Be Held in MoscowMore and more Russians use cryptocurrencies and according to a new survey, 12% of them admit that cryptos are their main source of income. The study, however, also indicated that Russian women are not equally involved in the crypto economy – only 7% of the respondents who use cryptocurrencies are women. Even the group of the underage users is bigger – 10%.

The leading Russian female experts hope to change the status-quo with their participation in the crypto conference. Among them are Elina Sidorenko, head of the Duma’s interdepartmental working group tasked with assessing cryptocurrencies, and Nadejda Surova, member of the parliamentary expert council on cryptocurrencies and blockchain technologies.

More than 20 other representatives of the crypto sector and entrepreneurs have been invited to share their experience. The conference will be live-streamed in 74 countries around the world, the organizers said. Everyone is welcome to join the event, even men.

Do you believe that initiatives like the conference in Moscow can bring more women into the crypto world? Share your thoughts in the comments section below.


Images courtesy of Shutterstock, Food City.


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The post Crypto Conference for Women to Be Held in Moscow appeared first on Bitcoin News.

Bitcoin News

Chinese Merchants in Moscow Convert Most of Their Cash to Crypto

April 16, 2018 |

Chinese Merchants in Moscow Convert Most of Their Cash to Crypto

Chinese traders in Moscow’s huge wholesale bazaars have become the most active buyers and sellers of cryptocurrency in the Russian capital. The retail turnover there is estimated at almost $ 10 billion a month. Authorities say that most of it is converted to cryptocurrencies and sent back to China where it‘s exchanged to yuan.   

Also read: Cryptocurrency Is the Main Income for 12% of Russian Crypto Users

Crypto Flows Considered Easier To Track than Cash

The three largest bazaars in the Russian capital, “Moskva”, “Sadovod”, and “Food City”, make about ₽600 billion rubles each month (~$ 10 billion). That’s almost a quarter of the retail turnover in the Russian Federation. Practically none of it is deposited in bank accounts, according to Yuri Polupanov, head of the Central Bank’s Financial Monitoring and Currency Control Department. 90% of the businesses there are owned by Chinese merchants and producers, he said during the Thomson Reuters Forum in Moscow, RBC reported.

The retail centers have become pioneers in crypto trade. Russia’s Centrobank believes that Chinese traders convert most of their revenues to cryptocurrency and send it back home, where it is exchanged to yuan. Financial authorities have learned that crypto exchange bureaus are also operating there. Polupanov said that some of them are registered as financial services providers. Inspectors have found discrepancies between their accounting reports and the data gathered remotely by the CBR.

Chinese Merchants in Moscow Convert Most of Their Cash to Crypto
Food City, Moscow

There is no point in denying that cryptocurrency is used in wholesale and retail trade, thinks Elina Sidorenko, head of a working group at the Duma tasked with assessing crypto circulation. “It’s no secret that Chinese merchants are using cryptocurrencies through anonymous wallets. But as soon as they are defined legally in the civil code, these financial flows will be easily controlled. It’s easier to track them than cash,” she said.

Sidorenko believes the situation will improve in a few years. If the central bank has evidence of illegal crypto-fiat exchange, it should give it to the Prosecutor’s Office, she added. Elina Sidorenko noted that illegal activities in these bazaars are not a new phenomenon. Violations of immigration laws and crimes related to laundering of illicit proceeds are flourishing there, she said, admitting: “We should’ve dealt with all that long time ago.”

Relics from The ’90s

The story of improvised retail bazaars and flea markets in Russia dates back to the breakup of the Soviet Union. Many of them were set up in the capital in the ‘90s. They have been targeted by authorities since the early 2000’s. Trade there is often unregulated and untaxed. Government inspectors have found multiple violations of sanitary and fire safety standards, customs and migration regulations.

Chinese Merchants in Moscow Convert Most of Their Cash to CryptoIn the summer of 2009 Moscow authorities closed down the “Cherkizovskiy” bazaar, which was one of the biggest. Russian police found 6,000 containers of contraband worth an estimated $ 2 billion. The newer trade centers “Sadovod” and “Moskva” are now major wholesale markets for clothes and shoes, while “Food City” is the main food distribution center. The volume of retail trade in the Russian capital has been estimated at more than $ 72 billion dollars in 2017. The monthly turnover is between $ 5.5 and $ 7.8 billion. It reaches $ 49 billion USD a month on national level.

Cryptos like bitcoin have been gaining popularity in Russia, where 12% of crypto users now claim cryptocurrency is their main source of income. Two draft laws regulating the crypto sector have been introduced in the State Duma, the lower house of Russia’s parliament. The bill “On digital financial assets” legalizes activities like initial coin offerings and mining. A second draft aims to amend the civil code in order to legalize the use of “digital money” in payments. It’s still unclear whether the circulation of cryptos will be allowed in the country. Recently, Russian media reported that a new crypto exchange bureau is now buying and selling bitcoin for cash in Moscow.

Do you think regulating cryptocurrencies will minimize their use for illicit purposes? Share your thoughts on the subject in the comments section below.


Images courtesy of Shutterstock, Food City.


Bitcoin News is growing fast. To reach our global audience, send us a news tip or submit a press release. Let’s work together to help inform the citizens of Earth (and beyond) about this new, important and amazing information network that is Bitcoin.

The post Chinese Merchants in Moscow Convert Most of Their Cash to Crypto appeared first on Bitcoin News.

Bitcoin News

New Local Crypto Street Exchange Shop Trades Bitcoin for Cash in Central Moscow

April 5, 2018 |

New Crypto Change Trades Bitcoin in Moscow

A change bureau trading bitcoin has been opened in the Russian capital. According to local media, this is the only currency exchange in Moscow buying and selling cryptos for cash. Lawyers say nothing in the law prohibits this kind of service, and the business is legal. 

Also read: Russians Owe 13% Tax on Their Crypto Incomes

Bitcoin Sold for Cash

Russian authorities have not regulated cryptocurrencies yet, but Russians are already adopting them. A new bitcoin change has been opened recently, not far from one of Moscow’s main railroad stations, Kursky Vokzal. According to media reports, the bureau is the first of its kind in the Russian capital.

New Crypto Change Trades Bitcoin in MoscowThe exchange is trading only bitcoins for Russian rubles in cash. Customers can buy and sell the cryptocurrency if they present an ID. The management claims that their business complies with current Russian laws. The bureau is located on the “Verhniy Susalniy” street. Other offices will be opened at two other locations, the business centers “Moscow City” and “Rumyantsevo”, Bitfin reports.

Cryptocurrencies are not considered legal tender in Russia. A draft law to legalize crypto-related activities, like initial coin offerings and mining, has been introduced in the Duma by the Ministry of Finance. Another bill, co-sponsored by the parliament speaker Vyacheslav Volodin, aims to regulate the use of “digital money” and protect “digital rights” of investors. The new legislation should be adopted by July.

The circulation of cryptocurrencies and their use for payments have divided government institutions. The Finance Ministry wants to legalize their trade on registered exchanges but the Central Bank has opposed the idea. There have been calls for an outright ban on cryptocurrencies by officials who consider them illegal money surrogates. On the other hand, the current legislation does not explicitly prohibit cryptocurrency operations like exchange services.

Well, If It Isn’t Banned…

“In any democratic society, including Russia, if something isn’t banned, it should be legal,” said Vladimir Yurasov, managing partner at a Moscow-based law firm. “The federal legislation has no provisions prohibiting the use of bitcoin in financial transactions. The purchase and sale of bitcoin do not violate the Civil Code”, he told BFM. If there is no criminal offense, these activities are legal, the lawyer added. Russians can buy bitcoin, both on the internet and on the street, Yurasov said.

New Crypto Change Trades Bitcoin in Moscow
Sberbank

The branding of the new crypto exchange, however, is a bit misleading. The office of “Sbercoin” resembles that of a Sberbank branch – similar name, the same green colors. The state-owned Russian “Savings bank” is among the biggest in Europe. Despite its interest in cryptocurrencies, it certainly has nothing to do with the small change tucked between a grill and a tobacco shop.

According to Vivalacloud, Sbercoin also offers its customers a contract for some of its services. It comes with a plastic card showing a public key to a new crypto wallet. A private key is provided in an envelope – only you will know it… and Sbercoin, of course. Remember, Bitcoin has its “dos” and “don’ts”!

Do you think currency exchanges can bring more people into cryptocurrencies? Tell us in the comments section below. 


Images courtesy of Shutterstock, Infox.


Bitcoin News is growing fast. To reach our global audience, send us a news tip or submit a press release. Let’s work together to help inform the citizens of Earth (and beyond) about this new, important and amazing information network that is Bitcoin.

The post New Local Crypto Street Exchange Shop Trades Bitcoin for Cash in Central Moscow appeared first on Bitcoin News.

Bitcoin News

Fire in Moscow shopping mall kills 1 person, injures 6

April 4, 2018 |

Russian officials say a fire in a Moscow shopping center has killed one person and injured six.
FOX News

China’s defense chief says Moscow trip is a signal to US

April 3, 2018 |

China’s new defense minister says he is visiting Russia to send the United States a message about the increasingly close ties between Moscow and Beijing.
FOX News

The Russians Have Landed (Back in Moscow)

April 1, 2018 |

The Russian diplomats who were expelled from the United States and their families have returned to Moscow, reports the AP . Russian news agencies say they returned on two flights that landed Sunday at Moscow’s Vnukovo Airport. One carried diplomats from the Russian Embassy in Washington; aboard the other were diplomats…
Newser

CNN

Kremlin: Moscow ‘forced’ to expel US diplomats

March 30, 2018 |

Russia was “forced” to expel US diplomats in retaliation for US actions but continues to want good relations, Kremlin spokesman Dmitry Peskov said Friday, as other Western nations wait to see how Moscow will respond to a mass expulsion of its diplomats.
CNN.com – RSS Channel – World

U.K.’s May: Moscow ‘Highly Likely’ Behind Skripal Poisoning

March 13, 2018 |

U.K. Prime Minister Theresa May said Monday that it was highly likely Moscow was behind the poisoning of a former Russian double agent and his daughter, adding the government has summoned the ambassador and demanded an explanation by the end of Tuesday.
WSJ.com: What’s News Europe

Trump: ‘They’re Laughing Their Asses Off in Moscow’

February 18, 2018 |

President Trump continued to vent his Saturday night fury over the Russia probe into Sunday, reports the AP , arguing that the Obama administration bears some of the blame, insisting that he never denied the election meddling, and declaring that “they are laughing their asses off in Moscow.” In a rapid-fire…
Newser

Moscow Residents Use Piles of Snow to Troll Putin

February 16, 2018 |

It’s been a particularly brutal winter in Moscow, complete with record-breaking amounts of snow , and municipal workers haven’t exactly been on top of removing the piles of white stuff. So city residents had to get creative—and political—in their efforts to clear the streets, per the BBC : They spray-painted…
Newser