Earlier this week, the President of the Chechen Republic – Ramzan Kadyrov – advised Elon Musk not to measure his strength against Vladimir Putin. Kadyrov went further, ironically calling Tesla’s CEO – Elona (the female version of his name). As it goes with the nature of the crypto community, scammers created over 30 tokens containing...Read More
Elliptic – a blockchain forensics firm – has reportedly given authorities information about a digital wallet that could possibly be linked to sanctioned Russian entities. It apparently stores “significant asset holdings,” amounting to millions of dollars worth of crypto. Caught Using Crypto? In an interview with Bloomberg on Monday, Elliptic co-founder Tom Robinson noted that...Read More
The Japanese authorities reportedly urged local cryptocurrency platforms to stop facilitating digital asset transactions subject to sanctions against Russia and Belarus. The Asian nation is among the superpowers that imposed financial penalties on the largest country by landmass. Previously, Japan froze the assets of nearly 50 Russian and Belarusian oligarchs alleged to be part of...Read More
Dapp discovery and analysis platform DappRadar has released a detailed report covering how the war between Russia and Ukraine has impacted the crypto industry. It argues that blockchain-based solutions could “play an important role” as the war continues, especially in light of global sanctions and asset freezes against Russia. The Macroeconomic Picture The report begins...Read More
Amid its ongoing invasion from the Russian Federation, the Ukrainian government wants to depict some war moments to show the world in the form of non-fungible tokens (NFTs). Thus, the nation continues to employ the asset class to help fund its defense. Russia-Ukraine War as NFTs The popularity boom of the NFT sector last year...Read More
Vitalik Buterin on Wednesday whetted his support for Ukraine against the Russian invasion. He said similar wars may be raging on in other parts of the world but that doesn’t mean people should stop caring about the Ukrainians or vice-versa. Buterin in Support of Ukraine In a tweet Wednesday morning, Ethereum’s co-founder said: “Ukrainians are far...Read More
Continuing his quest to spread political and economic sanctions against Russia as much as possible, the Ukrainian Vice Prime Minister, Mykhailo Fedorov, asked Tether to halt servicing Russians. Mykhailo Fedorov, the Vice Prime Minister of Ukraine, asked tether to halt servicing Russian users. Today, the entire democratic world has united against Russia to punish the...Read More
The Lower House of Russia’s Parliament – State Duma – has reportedly called upon establishing a regulatory framework on cryptocurrencies rather than imposing a blanket ban on them. The authorities joined the likes of the Finance Ministry, which urged for the same thing. The Never-Ending Saga Earlier this year, the Bank of Russia – the...Read More
In light of global trade restrictions against Russia, Chainalysis has introduced two new tools for helping businesses ensure that they don’t interact with sanctioned entities through blockchain. Enforcing Sanctions in Crypto The first of these tools – according to a statement from the company – is an on-chain oracle. The smart contract will store data...Read More
The leading cryptocurrency exchange – Kraken – will give $1,000 in bitcoin to each Ukrainian citizen who opened an account on the platform before March 10th. The initiative is designed to help those in need after Russia launched its “special military operation” in the country. Kraken’s Support to Ukrainians The list of companies, trading venues,...Read More
The European Union made it clear that cryptocurrencies, which fall into the category “transferable assets,” are included in the financial sanctions imposed on Russia for its invasion of Ukraine. Additionally, the EU implemented similar penalties on Belarus for assisting the Russian war-like regime. The Bloc Extends Its Sanctions Similar to the USA, the European Union...Read More
The Phuket Tourist Association (PTA) and the Bank of Thailand (BOT) are reportedly contemplating introducing cryptocurrency payment methods to Russian travelers in Thailand. The move would serve as an escape hatch since Russia’s citizens were slammed with severe restrictions from numerous countries, companies, and businesses following Putin’s invasion of Ukraine. Thailand Seeking to Help Russians...Read More
The leading US-based cryptocurrency exchange, Coinbase, has decided to block access to more than 25,000 addresses related to Russian individuals who are supposedly engaging in illegal activities. Coinbase Blocks 25K Russian Addresses According to an official blog post from today – March 7th, 2022 – the leading US-based cryptocurrency exchange, Coinbase, has blocked “over 25,000...Read More
Binance has just donated to help the children of Ukraine in their country’s ongoing war against Russia, joining a growing wave of individuals within the crypto ecosystem who are giving money and taking a stand for the country’s struggle. Binance Charity, the non-profit charitable arm of Binance, announced a $2.5 million cryptocurrency donation to UNICEF....Read More
Visa and Mastercard joined the growing list of western financial companies that announced plans to withdraw from Russia. Looking for alternatives, the nation’s central bank said it has turned to China’s UnionPay system. President Vladimir Putin launched a “special military operation” against Ukraine less than two weeks ago, which still continues until this day with...Read More
Visa, Mastercard, and PayPal joined the massive number of companies leaving Russia following Putin’s “special military operation” against Ukraine. As such, the question remains if Russians will turn to cryptocurrencies. Visa, Mastercard, and PayPal Leave Russia Ever since the war started between the two former Soviet states, the Western world has taken a different approach...Read More
The typically neutral country has joined the EU and the US in imposing financial sanctions against Russians following the war started by President Putin. Moreover, the nation’s authorities have also gone after their cryptocurrency holdings within Switzerland’s borders. Ever since Putin launched its “special military operation” against Ukraine, which turned out to be an all-out...Read More
Sanctions from the West have been hitting Russia’s economy hard. But Japan’s financial regulator and the country’s industry body for cryptocurrencies is now looking to ensure that these sanctions are carried out effectively. It aims to do so by plugging loopholes and restricting the transfer of digital assets of individuals and entities on the nation’s...Read More
Coinbase has joined the list of cryptocurrency exchanges that do not plan to block Russia-based users from accessing their services. The company’s CEO believes that oligarchs won’t be able to use digital assets, while many ordinary Russians could buy crypto while their national currency tumbles. Coinbase Won’t Ban Russia-based Clients With Russia’s President launching a...Read More
Some of the leading cryptocurrency exchanges in South Korea reportedly joined the growing number of global sanctions against Putin’s regime by blocking IP addresses from Russia. Among those trading venues are Upbit, Gopax, Bithumb, and Korbit. South Korea’s Sanctions to Russia The list of embargoes imposed on Russia keeps enlarging as the latest example came...Read More
The Department of Financial Services (DFS) will use blockchain analytics technology to build strengthen the enforcement of the sanctions against Russia. Specifically, the effort will be to detect if Russian individuals try to bypass the imposed penalties. Blockchain Technology to Help Monitor Sanction Enforcement The Department of Financial Services oversees numerous key programs and initiatives...Read More
Legacy investor, fund manager, and philanthropist Bill Miller believes that the financial sanctions imposed on Russia could cause bitcoin’s price to soar. He pointed out that gold is the only reserve asset the largest country by landmass controls on its own, meaning that BTC might gain traction in the days to come. BTC’s Surge Following...Read More
The government of Ukraine announced it will airdrop cryptocurrencies donated to the nation’s official wallet. Companies, non-governmental organizations, and individuals have already contributed over $30 million worth of digital assets to the country amid its ongoing war with Russia. Ukraine Has a Date for its Crypto Airdrop A few days after the launch of Russia’s...Read More
The Russia-Ukraine crisis is far from cooling down anytime soon. In the thick of the ongoing chaos, the CEO and founder of the digital currency company Circle – Jeremy Allaire – asserted that crypto is a double-edged sword. In the Face of Crisis The cryptocurrency market is rallying in the face of a growing geopolitical...Read More
Jerome Powell – Chairman of the Federal Reserve – recently testified in front of the House Financial Services Committee on the state of the economy, and future monetary policy. Given the various sanctions placed on Russia during its conflict with Ukraine, he said the conflict “underscores” the need for crypto regulation that he’s advocated for...Read More
Mike Novogratz, CEO of digital assets company Galaxy Investment Partners, predicted that the Russia-Ukraine war will boost crypto adoption and lead to the marginalization of the dollar. “This is a big deal, in a lot of ways. This is starting the acceleration of de-dollarization of the world,” he commented. The billionaire American investment banker made...Read More
Cryptocurrency has played a major role in the geopolitical tensions between Russia and Ukraine. While the latter is receiving bitcoin donations from across the world, there are concerns that Russia could use digital assets to mitigate growing sanctions. Russia Faces Global Sanctions These concerns come off the back of recent strict economic sanctions imposed on...Read More
As a result of the economic sanctions against Russia, the largest financial institution in the country – Sberbank – will reportedly withdraw from the European market. The organization said its subsidiaries spread around Europe face large cash outflows while the safety of its employees is threatened. Interestingly, Sberbank is one of the Russian banks that...Read More
The notorious hacker organization – Anonymous – has reportedly offered Russian troops payments in bitcoin to hand over their tanks. The group would pay more than $52,000 in BTC for each surrendered combat vehicle. BTC in Exchange for a Tank The Ukrainian side has been trying to stop the Russian invasion not only by weapons...Read More
Bitcoin trading volumes against the Russian ruble reportedly soared to the highest level in almost a year. At the same time, those employing Ukraine’s hryvnia reached October 2021 heights. The Result of the Embargoes? NATO and the EU are still standing away from a direct military conflict and vowed not to send troops to Ukraine....Read More
