Tag: russia sanctions

It has been argued that Russia may avoid Western sanctions for invading Ukraine by using cryptocurrencies. However, is it viable? The small scale of the cryptocurrency market restricts Russia's capacity to use cryptocurrencies to bypass international sanctions, according to credit rating agency Moody's. Analysts predict that sanctions will prompt the Russian Federation to create alternatives to the U.S.-led financial system....

U.S. crypto miner Compass Mining is looking to quickly divest its equipment in Siberia after the United States cracked down on its partner BitRiver over its Russian operations. In an announcement on Discord, CEO Whit Gibbs said the firm is required to immediately cease all dealings with BitRiver, its Russian hosting partner. The firm will...

Binance CEO Changpeng "CZ " Zhao said the exchange's recent restrictions against Russian users came from compliance with sanction rules. He added that crypto exchanges must comply with "all sanctions." CZ's comments come after Binance on Thursday rolled out severe restrictions on Russian users, blocking all wallets with a value of more than $10,000. While...

Binance, the world's largest crypto exchange, said it was required to limit trading activities of Russian users in light of new European sanctions against Moscow. The exchange said it will limit services for Russian entities who have crypto assets worth over 10,000 euros ($10,893). Such accounts will no longer be permitted to trade or deposit...

The European Union introduced another round of economic sanctions on Russia and Belarus as the conflict with Ukraine escalated. The European Union extended prohibitions on deposits to crypto wallets, to prevent possible sanction dodging through crypto. Moreover, Russian and Belarusian companies and individuals will also be banned from buying banknotes and transferrable securities, such as...

Japan will revise its foreign exchange law to prevent Russia from exploiting crypto to evade economic sanctions. Chief Cabinet Secretary Hirokazu Matsuno said in a...

A day after Ukraine legalized the use of digital assets in the country, Russia's largest lender Sberbank secures the license to issue digital assets in the country. On Thursday, March 17, the Russian central bank said that Sberbank can now exchange digital financial assets, a move that seems to thwart the effect of U.S. sanctions....

Cryptocurrencies are becoming increasingly popular as a means of payment and store-of-value. However, President Biden's recent plan to sign an executive order will provide federal agencies with guidance on how they should approach cryptocurrency transactions from both regulatory perspectives and national security concerns associated with these digital assets. The U.S. federal government is looking into...

After two crypto exchanges Binance and Kraken refused a blanket ban on Russian users, Coinbase to joins them! An hour back, Coinbase CEO Brian Armstrong confirmed that they are not considering banning all Russian users from their...

Earlier this week, the Bitcoin (BTC) price rallied all the way to $44,000 levels amid reports that the recent U.S. sanctions on Russia were the reason behind it. However, new data shows that talks of...