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
The world’s leading digital asset exchange – Binance – does not intend to freeze the accounts of Russian-based individuals, a spokesman for the platform revealed. He further argued that “crypto is meant to provide greater financial freedom,” and such a move could oppose the concept of the industry. In-Line With Kraken Russia’s “special military operation”...Read More
Crypto has emerged as the method of choice for fundraising and donations as it offers a number of advantages over banks and traditional methods of money transfer which are slow, expensive, and often restricted and monitored. The Ukrainian government has called upon the crypto community to pledge support in a series of appeals on social...Read More
Mykhailo Fedorov – Vice Prime Minister of Ukraine – has called on crypto exchanges to freeze all Russian users’ blockchain addresses to help Ukraine defend itself from Russia’s invasion. In a tweet on Sunday, Fedorov emphasized the importance of both cutting off crypto access to Russian and Belarusian politicians, as well as “sabotaging ordinary users”....Read More
The White House, alongside the European Commission, Canada, the United Kingdom, Germany, and Italy, announced in the late hours of Saturday evening that they would be expelling certain Russian banks from the SWIFT payment system. In a joint statement, the parties wrote that: “This will ensure that these banks are disconnected from the international financial...Read More
ApplePay – Apple’s digital wallet service – is no longer providing support to Russian banks following sanctions from the United States and its western allies. Applications from Promsvyabank – a state-backed Russian bank – have also been removed from the App Store. Sanctioning Russia Apple’s removal of Russian financial services was reported by Russian news...Read More
The fifth-largest Ethereum mining pool – Flexpool – announced it will no longer provide services to customers in Russia. By doing so, the entity opposed Putin’s military operation and showed solidarity with Ukraine. The mining company became the first in its field to halt its endeavors on Russian soil. This comes a day after the...Read More
According to Elliptic data, people have donated $400,000 worth of Bitcoin to the Ukrainian nongovernmental organization – Come Back Alive. The latter provides military equipment, medical supplies, and training services to the local army. In addition, today (February 25), a mysterious contributor donated 80 BTC to a charity organization supporting the Ukrainian army. Calculated at...Read More
The Russian Ministry of Finance reportedly presented its draft legislation on digital asset regulations. The institution called upon enhanced protection rules and set a limit on annual cryptocurrency investments. The Latest Update Russia’s top authorities are still far from reaching a unanimous decision on how to approach the local cryptocurrency market. The Bank of Russia...Read More
The Russian Finance Ministry introduced public notices and said they started developing a comprehensive regulatory framework for the cryptocurrency industry. During the discussions, citizens and financial market players will be able to give their proposals on the matter. What Has Happened so Far? Ever since the start of 2022, Russia’s top authorities haven’t been able...Read More
Despite Vladimir Putin’s request, the Bank of Russia and the Finance Ministry did not shake hands on a single solution regarding cryptocurrency regulations. While some reports indicated that the largest country by landmass will not ban digital assets, it is still uncertain what legislation it will impose. No Resolution After the Meeting The central bank...Read More
The Russian Ministry of Internal Affairs has reportedly taken down four major illegal Dark Web sites, which have made over $260 million in cryptocurrency proceeds from the sale of stolen credit cards. Those platforms are Ferum Shop, Trump’s Dumps, Sky-Fraud forum, and UAS Store. The Latest Seizures Known as “carding” websites, these illicit platforms offer...Read More
A recent estimate by the Russian government has revealed that locals currently own more than 16.5 trillion rubles ($214 billion) worth of cryptocurrencies. Russians Control 12% of Crypto Market According to a Bloomberg report on Tuesday, this figure represents approximately 12% of the total value of global crypto holdings or one-third of the market cap...Read More
The Ministry of Finance proposed a regulatory framework that would enable cryptocurrency transactions to be carried out through Russia’s banking system, with infrastructure to monitor and identify traders. Crypto Regulations Instead of Ban According to a report by local media outlet RBU on Friday (January 27, 2022), the Ministry of Finance is proposing a modality...Read More
The central banking institution of the largest country by landmass – the Bank of Russia – urged the local government to impose a blanket ban on all cryptocurrency endeavors on Russian territory. It argued that digital assets remind of a pyramid scheme, undermine the sovereignty of monetary policy, and threaten the local financial network. Russia...Read More
The leading Russian bank – Sberbank – created a blockchain exchange-traded fund (ETF) tracking prominent companies in the cryptocurrency industry, such as Coinbase and Galaxy Digital. This is the first such product in Russia, which allows local investors to delve into the digital asset market without having to purchase, store, or sell tokens. Russia Has...Read More
In August, the Federal Bureau of Investigation seized more than $2 million worth of digital assets linked to ransomware attacks committed by the Russian resident – Aleksandr Sikerin. The criminal is known for his connection to the notorious cyber gang REvil that has assaulted numerous US businesses in the recent past. REvil on The Spotlight...Read More
The Ministry of Economic Development, the Ministry of Energy, and the State Duma want cryptocurrency mining in Russia to be a legalized business regulated as an entrepreneurial activity. However, the country’s central bank opposed such a move, citing the risks related to digital asset endeavors. Russian Crypto Mining Deserves “Respect And Regulation” According to a...Read More
According to a resent research, the population of the Eastern European state – Ukraine – is the most interested in digital assets. Russia and the USA ranked respectively second and third. Surpassing The Giants The cryptocurrency brokerage firm BrokerChooser took into account several factors such as the total number of digital asset owners and the...Read More
