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

Rouble-crypto trading soars as sanctions hit Russian currency

Rouble-crypto trading soars as sanctions hit Russian currency

A view shows Russian rouble coins in this illustration picture taken March 25, 2021. REUTERS/Maxim Shemetov/IllustrationRegister now for FREE unlimited access to Reuters.comRegisterLONDON, Feb 28 (Reuters) – Trading volumes between the Russian rouble and the Tether cryptocurrency spiked sharply on Monday as the local currency tumbled to a record low on Western sanctions, data shared … 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

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

Starving Afghans Use Crypto to Sidestep Sanctions, the Taliban

Starving Afghans Use Crypto to Sidestep Sanctions, the Taliban

When the Taliban took over Afghanistan in August of last year, Fereshteh Forough feared that the group would close her school in Herat, the country’s third-largest city. Code to Inspire, an NGO Forough founded, was teaching computer programming to young Afghan women, and the Taliban oppose secondary education for women. Months later, the picture is … Read more

Crypto’s impact on sanctions: Are regulators’ concerns justified?

Crypto's impact on sanctions: Are regulators' concerns justified?

The use of cryptocurrencies to evade international sanctions from various international governmental organizations like the United Nations (UN), the International Monetary Fund (IMF) and the World Bank, among others, has been a concern for regulators ever since the creation of cryptocurrencies.The rapidly increasing adoption of digital currencies in the last two years makes this discussion … Read more

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