EU looks at preventing use of crypto to avoid Russia sanctions

EU looks at preventing use of crypto to avoid Russia sanctions

The EU is considering new measures to ensure digital assets are not used to dodge sanctions against Russia as the bloc toughens its enforcement of the financial penalties imposed on Moscow in the past week. EU finance ministers and other officials discussed on Wednesday the risk that cryptocurrencies could be used to circumvent sanctions, officials … Read more

Russia eyes sanctions workarounds in energy, gold, crypto

Russia eyes sanctions workarounds in energy, gold, crypto

WASHINGTON (AP) — The harsh sanctions imposed on Russia and the resulting crash of the ruble have the Kremlin scrambling to keep the country’s economy running. For Vladimir Putin, that means finding workarounds to the Western economic blockade even as his forces continue to invade Ukraine.Former Treasury Department officials and sanctions experts expect Russia to … Read more

Bitcoin Soars as Sanctions on Russia Breathe New Life Into Crypto

Bitcoin Soars as Sanctions on Russia Breathe New Life Into Crypto

Russia’s invasion of Ukraine is turning into a geopolitical test for Bitcoin as a digital currency in a time of crisis. So far, it appears to be passing. Bitcoin jumped more than 15% on Monday as the Treasury Department announced sanctions against Russia’s central bank and froze some Russian assets. The U.S. measures prohibit Americans … Read more

Crypto will not save Russia from sanctions, experts say | Crypto News

Crypto will not save Russia from sanctions, experts say | Crypto News

Cryptocurrency alone will not allow Russia to skirt a barrage of sanctions aimed at punishing Moscow for invading Ukraine, cryptocurrency analysts told Al Jazeera. The United States, United Kingdom, European Union and Canada announced new sanctions on Monday, this time targeting Russia’s central bank and national wealth fund. The US Treasury Department said that it was … Read more

Ukraine Raises $20 Million in Crypto, Russia Looks to Sidestep Sanctions

Ukraine Raises $20 Million in Crypto, Russia Looks to Sidestep Sanctions

Money is pouring in to aid Ukraine’s efforts against the Russian invasion – in the form of cryptocurrency. Around $20 million have been raised in crypto donations by the Ukraine’s central bank and allied NGOs, estimates blockchain consulting firm Elliptic.Why crypto?Because it allows for quick, anonymous, cross-border payments which aren’t dependent on financial institutions. Such … Read more

Crypto exchange Binance says it won’t unilaterally freeze accounts in Russia

Crypto exchange Binance says it won't unilaterally freeze accounts in Russia

Feb 28 (Reuters) – Cryptocurrency exchange Binance has no plans to unilaterally freeze user accounts in Russia, the company’s representative said on Monday, after Ukraine had asked cryptocurrency bourses to block operations with Russia.”We are not going to unilaterally freeze millions of innocent users’ accounts. Crypto was meant to provide greater financial freedom for people … Read more

Hard Numbers: Russia arrests protesters, Ukraine gets crypto donations, EU closes airspace, Ukrainians flee

Hard Numbers: Russia arrests protesters, Ukraine gets crypto donations, EU closes airspace, Ukrainians flee

Poland and the Baltics, however, are members of NATO. A Russian war against the smaller, non-NATO army of Ukraine is very different from tangling directly with a powerful, nuclear-armed military alliance that has been bolstering its numbers in Eastern Europe for months. That’s a big gamble even for a leader who thinks he’s got the … Read more

Analysts Warn of Regulatory Risks if Russia Is Able to Use Crypto to Evade Sanctions – Regulation Bitcoin News

Analysts Warn of Regulatory Risks if Russia Is Able to Use Crypto to Evade Sanctions

Russia could turn to cryptocurrency if it is banned from the SWIFT payments system. Analysts have warned that if Russia is able to use crypto to evade sanctions, “political support in the U.S. for crypto will fall and regulatory risk will rise.” Crypto Faces Regulatory Risks if Used by Russia to Evade Sanctions Amid growing … Read more

Bank of Russia Proceeds With Digital Ruble, Renews Push for Crypto Ban

Bank of Russia Proceeds With Digital Ruble, Renews Push for Crypto Ban

In its letter, the Bank of Russia said that allowing non-qualified investors to trade cryptocurrencies through banks will create “an illusion of government protection,” while encouraging people to participate in a “de-facto Ponzi scheme,” Forbes wrote. The government won’t be able to fully control cryptocurrency transactions, and the crypto industry won’t really benefit the Russian … Read more

Russia Moves to Recognize Crypto as a Form of Currency

Russia Moves to Recognize Crypto as a Form of Currency

Regulators hope to “bring the digital currency industry out of the shadows” The establishment of rules for crypto circulation “would minimize the threat to Russia’s financial system” The Russian government and the country’s central bank have reached an agreement to draft legislation or amend existing laws recognizing crypto as a form of currency, according to … Read more

Russia set to recognize crypto as a form of currency: report

Russia set to recognize crypto as a form of currency: report

advertisement Authorities in Russia are set to recognize digital assets as a form of currency, according to local news reports. Russian newspaper Kommersant reported this morning, and later tweeted, that the government and the Bank of Russia have reached an agreement on how to regulate cryptocurrencies. They are now preparing a draft law, expected by … Read more

Russia proposes ban on use and mining of cryptocurrencies

Russia proposes ban on use and mining of cryptocurrencies

Russian c.bank proposes ban on cryptocurrency useRegulator warns of risks to financial stabilityAnalysts say wider impact negligible for nowBan on cryptocurrency exchanges also proposedMOSCOW, Jan 20 (Reuters) – Russia’s central bank on Thursday proposed banning the use and mining of cryptocurrencies on Russian territory, citing threats to financial stability, citizens’ wellbeing and its monetary policy … Read more

Bank of Russia Calls for Full Ban on Crypto

Bank of Russia Calls for Full Ban on Crypto

Mining creates fresh supply of cryptocurrencies, so it stimulates the demand for other crypto services such as exchanges and “creates a non-productive electricity expenditure, which undermines the energy supply of residential buildings, social infrastructure and industrial objects, as well as the environmental agenda of the Russian Federation,” the report said. Source link

Russia Could Stop Crypto Buys by Blocking Cards

Bank of Russia, Restrict, Crypto, Investments, Blocking, Card Payments,

To prevent people from investing in cryptocurrencies, the Central Bank of Russia is considering restricting the use of debit and credit cards at crypto exchanges, although the option is just one of several being discussed, Forbes reported. Elvira Nabiullina, head of the central bank, said the Russian financial system should not be used in connection … Read more

Bank of Russia Wants to Restrict Crypto Investments by Blocking Card Payments, Report Reveals – Finance Bitcoin News

Bank of Russia Wants to Restrict Crypto Investments by Blocking Card Payments, Report Reveals

The Central Bank of Russia is currently reviewing various ways to prevent Russians from investing in cryptocurrency. One the options on the table is to block card payments to certain recipients such as crypto exchanges, a media report has unveiled. A recent meeting at the State Duma has indicated, however, that the authority’s hardline stance … Read more

Crypto mining hardware is in high demand in Russia despite high prices: Crypto wrap

Crypto mining hardware is in high demand in Russia despite high prices: Crypto wrap

Women-led startups among finalists in PIF’s Sanabil, 500 Global accelerator program RIYADH: Sanabil Investments, wholly owned by the Public Investment Fund, and 500 Global, a leading global venture capital firm on Sunday unveiled 11 startups in the second batch of the Sanabil 500 MENA Seed Accelerator Program 2021. Female founders lead a third of the … Read more

Russia prioritizes CBDC ruble as overall crypto outlook seems positive

Russia prioritizes CBDC ruble as overall crypto outlook seems positive

After the Chinese authorities introduced a complete ban on cryptocurrency transactions in September by equating them to illegal financial activity, local cryptocurrency miners either dropped off the radar or moved to other countries in order to continue with their business.The United States subsequently became the leader in terms of Bitcoin (BTC) mining volumes with a … Read more

Annual Volume of Crypto Transactions Made by Russians Reaches $5 Billion, Bank of Russia Finds – Bitcoin News

Annual Volume of Crypto Transactions Made by Russians Reaches $5 Billion, Bank of Russia Finds

With the growing capitalization of the crypto economy, Russians have been making crypto transactions worth billions of dollars a year, data gathered by the Central Bank of Russia shows. Russian residents are some of the most active participants in the crypto market, the regulator has acknowledged. Russians Among Most Active Crypto Users, Central Bank Admits … Read more

Regulate crypto to stop manipulation by Russia and China

Regulate crypto to stop manipulation by Russia and China

Former Secretary of State HIllary Clinton has said that cryptocurrency markets need stronger regulations to protect against technological manipulation by Russia, China, and others.Her comments on cryptocurrency were part of a larger segment in a Nov. 24 interview with MSNBC TV news host Rachel Maddow on the manipulation of social media platforms by certain nations. Clinton’s … Read more

Russia reports record daily COVID-19 deaths

Russia reports record daily COVID-19 deaths

Medical specialists wearing protective gear transport a patient at the City Clinical Hospital Number 1, where people suffering from the coronavirus disease (COVID-19) are treated, in Volzhsky, Russia October 25, 2021. REUTERS/Kirill BragaMOSCOW, Nov 13 (Reuters) – Russia on Saturday reported a new record one-day death toll of 1,241 from COVID-19 as well as 39,256 … Read more

Russia says it has turned tide on COVID wave, but deaths at record high

Russia says it has turned tide on COVID wave, but deaths at record high

A medical specialist wearing protective gear helps a patient to drink at the City Clinical Hospital Number 1, where people suffering from the coronavirus disease (COVID-19) are treated, in Volzhsky, Russia October 25, 2021. REUTERS/Kirill BragaMOSCOW, Nov 9 (Reuters) – Russia said the nationwide workplace shutdown it ended this week had helped turn the tide … Read more

Federal Security Service of Russia Seeks Powers to Obtain Information From Crypto Platforms – Bitcoin News

Federal Security Service of Russia Seeks Powers to Obtain Information From Crypto Platforms

The Federal Security Service of the Russian Federation has issued a draft order allowing its agents to request information from cryptocurrency platforms among other organizations. The move follows changes made to the anti-corruption legislation in Russia, the agency noted. FSB Wants Access to Crypto Data for Anti-Corruption Checks in Russia Russia’s main law enforcement agency, … Read more

Russia and Belarus to adopt differentiated rates for crypto-mining activities

Russia and Belarus to adopt differentiated rates for crypto-mining activities

Cryptocurrency miners in Belarus and Russia will now be subjected to higher electricity tariffs. The governments in these countries are taking steps to segregate cryptocurrency miners from other power consuming groups. As a result, subsidized power would be denied to these groups. This will lead to the adoption of differentiated electricity rates for entities engaged … Read more

Russia, Belarus Move to Introduce Special Electricity Tariffs for Crypto Miners – Mining Bitcoin News

Russia, Belarus Move to Introduce Special Electricity Tariffs for Crypto Miners

Authorities in Belarus and the Russian Federation are taking steps to separate cryptocurrency miners from other groups of power users and deny them access to subsidized energy. This could lead to the adoption of differentiated electricity rates for businesses involved in digital coin minting activities. Cryptocurrency Miners in Russia and Belarus May Face Higher Energy … Read more

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