Russia’s state-owned lender VTB is preparing to offer direct trading of Bitcoin and other cryptocurrencies. 

This development signals a significant shift in the country’s financial landscape as regulators move toward a more flexible approach to digital assets.

Bank Plans Direct Access to Digital Tokens

VTB aims to become the first major Russian bank to enable clients to buy actual cryptocurrencies through their brokerage accounts.

Speaking to the local media outlet RBC, Andrey Yatskov, head of the bank’s brokerage services, stated that customers increasingly prefer direct access to crypto rather than derivatives.

“Demand for Bitcoin and other digital assets has grown steadily,” he noted. Consequently, the bank is speeding up the development of its trading infrastructure.

The new service will allow clients to trade cryptocurrencies through VTB’s existing mobile and online platforms. This would expand the bank’s current offerings, which include only crypto derivatives approved by the central bank.

Pilot Program for High-Net-Worth Investors

Initially, the platform will be tested with “super-qualified clients,” a regulatory category that includes wealthy investors with sizable portfolios or high annual incomes.

Since these clients already meet strict requirements for trading complex financial products, Yatskov said the pilot phase will help refine operational processes and gather feedback to shape the final platform while ensuring compliance with evolving rules.

Regulatory Resistance Eases

The move comes as Russia’s central bank softens its long-standing opposition to cryptocurrency trading. Although concerns were reiterated as recently as March, regulators have gradually warmed to the idea of clear rules rather than an outright ban, encouraged by lawmakers, ministries, and major companies.

Officials recognize the global rise in cryptocurrency adoption. The central bank has already permitted limited crypto activity through a regulatory sandbox, signaling a shift toward more flexible oversight.

Sanctions Influence Policy Debate

Russia’s geopolitical environment is also influencing the policy debate. For instance, earlier this week, First Deputy Governor Vladimir Chistyukhin said that the central bank is considering easing restrictions as part of a broader strategy to manage the impact of Western sanctions.

Furthermore, many Russian companies are already using digital assets for cross-border transactions, adding pressure for a formal regulatory framework. Meanwhile, the country’s industrial Bitcoin mining sector continues to expand, making strict prohibitions increasingly difficult to justify.

Commercial banks now anticipate playing a key role once new rules are in place. Yatskov said regulation would improve market transparency and help establish trusted providers. He believes banks will serve as licensed brokers and custodians for digital assets under the emerging framework.

He added that VTB already has the infrastructure and client interest needed to participate. Based on recent signals from the central bank, he expects commercial lenders to become central players in Russia’s crypto market as it transitions toward a regulated system.

Malaysia’s battle against illegal Bitcoin mining has escalated into a high-tech pursuit. 

Authorities are now deploying drones to sweep commercial blocks, neighborhoods, and abandoned buildings for unexpected heat signatures.

On the ground, police teams use handheld devices that detect abnormal electricity flow, while residents alert authorities after hearing strange noises.

In several cases, officers have traced the sounds to operators playing bird and jungle audio to mask the roar of industrial mining machines behind closed doors.

This intense monitoring shows how big the problem is. Over the past five years, more than 14,000 illegal Bitcoin mining sites have been found.

$1.1B in Power Losses

State-owned utility Tenaga Nasional Berhad (TNB) estimates that power theft tied to illegal Bitcoin mining has cost the country $1.1 billion since 2020. The losses surged this year, with nearly 3,000 new power-theft cases tied to mining reported by early October.

To put the damage into perspective, that stolen electricity could feed over 567,000 Malaysians for a full year. It could also power 373,000 average households for 12 months.

The scale of the siphoning has now forced Malaysia to treat the issue as a national economic threat.

Multi-Agency Task Force Moves In

In response, the government launched a new special committee on November 19. It brings together Bank Negara Malaysia, the Ministry of Finance, and TNB to coordinate efforts to identify, shut down, and prosecute illegal operations.

Deputy Energy Minister Akmal Nasrullah Nasir, who chairs the panel, warns that the danger extends beyond financial losses:

“The risk of allowing such activities to happen is no longer about stealing. You can actually even break our facilities. It becomes a challenge to our system.”

Nasir says the behavior of operators, including rapid relocation, elaborate security, and heat-shielding setups, points to organized criminal syndicates.

Inside Malaysia’s Hidden Bitcoin Mining Hubs

Illegal miners operate with surprising sophistication. Many rotate locations frequently, using vacant shop lots, abandoned houses, empty suburban storefronts, and quiet industrial warehouses.

Major abandoned structures have even been converted into mining factories. One example is ElementX Mall near the Strait of Malacca, which never recovered post-pandemic. Bitcoin miners quietly took over parts of the building in 2022. The operation only came to light after a TikTok video went viral.

In Sarawak, a mining firm previously turned a former logging yard into a large-scale facility. These efforts highlight how operators repurpose any space capable of hosting high-density machines.

Legal Mining Exists, But Officials Question Its Viability

Meanwhile, Bitcoin mining is legal in Malaysia if operators pay for their electricity and taxes. But Nasir believes the business model is inherently unstable due to Bitcoin’s volatility.

During the task force’s first meeting in November, members even discussed whether Malaysia should consider banning Bitcoin mining entirely.

Ultimately, the crackdown on Bitcoin miners has become one of the most sophisticated enforcement efforts in Asia, as Malaysia seeks to stop power theft before it undermines national infrastructure.

U.S. Representative Marjorie Taylor Greene’s reputation in the crypto space has risen as she has increases her exposure to Bitcoin. 

The lawmaker has consistently accumulated shares of BlackRock’s iShares Bitcoin Trust ETF (IBIT) throughout the year. Her latest purchase appeared in a recent congressional disclosure, revealing that Greene (R-GA) acquired additional shares of IBIT on November 21, investing between $1,001 and $15,000. 

Consistent Investment in BlackRock’s Bitcoin ETF in 2025

Greene has made similar purchases all year. She began on January 8 with an investment of $1,000 to $15,000, followed by a larger buy of $15,000 to $50,000 on March 3. She continued accumulating IBIT with purchases ranging from $1,000 to $15,000 on September 11, October 9, October 15, and October 24, leading up to her most recent investment disclosed for November 21, bringing the total transactions to seven. 

Overall, she has invested between $21,000 and $140,000 in BlackRock’s Bitcoin ETF this year. What makes her latest acquisition particularly notable is its timing. 

When she bought the IBIT shares on November 21, Bitcoin was trading near $85,000 and struggling to break free from the month’s bearish trend. IBIT reflected that weakness as well, closing the session at $47.97. 

Latest Purchase Sees Gains 

Since then, Bitcoin has rallied to $92,900 at press time, up 9.29% from its November 21 close. Similarly, IBIT has climbed to $52.80, up 10.06% from its previous close of $47.97.

As a result of this upward move, the disclosure shows that Greene’s most recent investment has appreciated by $99 to $1,485, based on congressional reporting ranges. 

Defending Investment Timing 

Her consistently well-timed trades have previously sparked criticism from investors who suspect she may have access to insider information. 

However, Greene has repeatedly denied these allegations and has instead praised her portfolio manager, who executes all her trades, for skillfully timing the market. While IBIT shares are not Bitcoin itself, the ETF gives investors direct exposure to BTC without requiring them to secure the asset themselves.

Despite rebounding to $52.80, IBIT remains down 9.05% YTD. As of December 3, the fund’s net assets stood at $72.30 billion. Additionally, IBIT currently has 1,369,360,000 outstanding shares, each backed by its proportional share of the fund’s $72.3 billion in net assets.