Russia Accelerates Crypto Payments to Evade Sanctions
Russia is developing a crypto payments system to facilitate international trade amidst sanctions, with a focus on mitigating transaction risks and maintaining domestic crypto restrictions.
EdmundRussia is developing a crypto payments system to facilitate international trade amidst sanctions, with a focus on mitigating transaction risks and maintaining domestic crypto restrictions.
EdmundFollowing Russia’s invasion of Ukraine in February 2022, U.S has uncocked an onslaught of 500 sanction against Russia which hopes to damage Russia’s economy by attacking its banking sectors. There is only one objective of the sanction: to paralyse the economy of Russia and coerce Russia from drawing out of Ukraine.
XingChiItaly plans to enforce a new decree to monitor crypto asset risks, imposing fines up to €5 million for market manipulation. This aligns with the European regulatory framework and aims to enhance financial stability. Meanwhile, the EU approved its 14th sanctions package against Russia, including a ban on re-exporting Russian LNG in EU waters.
ZeZhengPDVSA shifts to cryptocurrency, using USDT to preserve oil revenues and counteract US sanctions, despite the complexities and new challenges this strategy introduces.
BerniceThe Binance-hosted wallets received more than $2 million worth of various cryptocurrencies that were then sent on to North Korean entities.
OthersCentral banks may shift their international reserve holdings in order to protect themselves ex-ante against the risk of financial sanctions by fiat reserve currency issuers.
Matthew FerrantiPreviously sanctioned Tornado Cash is up again on the news cycle.
BitcoinistU.S. Congressman Tom Emmer sent a letter to Secretary of the Treasury Janet Yellen regarding the sanctions imposed on the ...
BitcoinistThe platform advised users to withdraw funds quickly, noting it would halt trading for Venezuela-based clients on July 31, with all accounts “fully restricted” beginning Sept. 30.
Cointelegraph