Organizers of financial pyramids in Russia risk spending up to six years in prison and paying hefty fines, under amendments to the Criminal Code signed today by Russia's president Vladimir Putin. The new penalties are introduced after earlier this month Putin signed another law that introduced fines for those who support financial pyramids by presenting them…
Read moreIndividuals and organizations engaged in Bitcoin-related activities in Russia face tougher penalties than originally envisaged, under plans drafted by the Ministry of Finance. As per LeapRate's earlier report, Russia's Ministry of Finance is set to submit a bill with the nation's parliament not later than June this year, with the document to contain a set…
Read moreVladimir Putin, the president of the Russian Federation, has made another step towards the establishment of an integrated currency market in the Commonwealth of Independent States (CIS). Last week, Mr Putin signed the Federal Law On Ratifying the Agreement on Cooperation in Organising an Integrated Currency Market between Commonwealth of Independent States Member States. In…
Read moreThe regulator is concerned that companies officially claiming to be offering binary options trading or other financial services, are indeed providing gambling services.
Read moreBoth bills envisage tougher penalties for those who organize, advertise and attract investors to financial pyramids.
Read moreRussian self-regulatory authority TSRFIN states that if FX is to be regulated, it should be via combined effort between professional market participants and the central bank.
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