ETHERLive delivers real-time price and volume data across 16+ exchanges to users in a clear and easy-to-understand package. Users can get up-to-the-second updates for each exchange/currency pair, as well as aggregated market averages for each exchange, currency, and the market as a whole. It also provides a global converted average of all the currency pairs monitored by ETHNews, converted to USD.


24hr ---

The Basics

Learn the basics of Ethereum and various cryptocurrency technologies

Learn More

What is Ethereum?

Understand the underlying principles of the Ethereum Platform

Learn More

The Blockchain

Discover the revolutionizing technology known as the blockchain

Learn More

Press Release

Submit a press release for consideration on ETHNews

Submit Press

Story / Dapp

Submit a story or DAPP to be considered for publication on ETHNews.

Submit Story


Submit "Ethereum Explainer" content for consideration to be featured on ETHNews

Submit Topic
ETHNews Logo
Ether Price Analysis
Contact Us

The Back and Forth Of Russia’s Dance With Cryptocurrency




As Russia’s position on cryptocurrencies alternates between restrictive and supportive, authorities may ultimately land at a moderate medium.

Russian authorities may grant legal status to cryptocurrencies by 2018. According to Russia’s Deputy Finance Minister Alexey Moiseev, closer monitoring of cryptocurrencies could prove to be helpful in the fight against money laundering. As a result, over the next year, the Russian central bank will work alongside the government to develop rules against illegal transfers.

“The state needs to know who at every moment of time stands on both sides of the financial chain,” Moiseev said. “If there’s a transaction, the people who facilitate it should understand from whom they bought and to whom they were selling, just like with bank operations.”

This announcement is a complete 180-degree turn from Russia’s previous stance on cryptocurrencies. In 2014, the Russian Ministry of Finance presented legislation that would ban the use of all cryptocurrencies. However, the bill was later rejected by the Russian Economic Development Ministry, which argued that the proposed ban would “create legal barriers” for various businesses and economic entities in Russia.

In April 2016, the Finance Ministry in Moscow proposed another law that called for a fine of up to 2.5 million rubles ($38,000) for digital currency use in Russia. Months later, Moiseev came forward to propose a revision to the bill that allowed for cryptocurrencies to be used for outside purchasing and sales abroad. When asked in an interview why the ministry had allowed the amendment to their cryptocurrency purge, Moiseev stated that it didn’t want to hinder the development of blockchain technology.

Russian authorities have not confirmed when they will decide the ultimate fate of cryptocurrencies within the country, but Russian Deputy Governor Olga Skorobogatova revealed in February that a decision would be made by mid-2017 whether digital currencies will be considered assets, cash, or securities.

ETHNews will update this story as more information develops.

Dan Cummings

Dan is a Los Angeles-based musician, writer, and veteran passionate about science and technology, current events, human rights, economic impacts, and strategic calculus.

ETHNews is committed to its Editorial Policy

Like what you read? Follow us on Twitter @ETHNews_ to receive the latest Russia, Economic Development Ministry or other Ethereum law and legislation news.