Tag Archives: russia

The US-based cryptocurrency exchange – Kraken – joined the list of platforms restricting services to Russian consumers. The decision comes as a result of the latest sanctions that the European Union (EU) imposed on the largest country by landmass for its invasion of Ukraine. Other trading venues that have already ended ties with Russian users include BlockchainCom, CryptoCom, and more. Russia’s military campaign in Ukraine, which started in February, caused the Western world...

On October 19, the United States Department of Justice (DOJ) accused two Venezuelan citizens and five Russians of using cryptocurrencies to launder money for Russian oligarchs by selling oil barrels from sanctions-hit Venezuela. According to the press release, the defendants smuggled millions of barrels of oil to Russia and China, laundering “tens of millions of dollars.” They used crypto to launder part of the funds . Among the Russian defendants are Yury Orekhov, Artem Uss...

After CryptoCom, the crypto service platform – BlockchainCom – has announced plans to restrict Russia-based users. In an email to its users, the company notified that it will block the accounts of Russians. The move comes after the European Union’s (EU) eighth package of sanctions against Russia. According to the news agency RBC’s latest report, Russian users have until October 27th to withdraw funds, following which the accounts will be blocked. The crypto wallet said in a...

Pro-Russian outfits have resorted to digital asset funds in a bid to support the war efforts against Ukraine while evading international sanctions. A new report suggests that these groups are raising a massive amount of Bitcoin and other cryptocurrencies via crowdfunding campaigns. According to Chris Janczewski, head of global investigations at TRM Labs, the blockchain intelligence resource identified around $400,000 in cryptocurrency raised since the beginning of the...

The President of Kazakhstan – Kassym-Jomart Tokayev – said the authorities are ready to introduce a mechanism that will allow the converting of cryptocurrencies to cash if there is enough demand for such services. The positive tone toward the digital asset industry comes days after nearly 100,000 Russians entered Kazakhstan to escape the partial military mobilization which Vladimir Putin announced. Embracing Crypto Even More In a recent announcement, President Tokayev...

The Bank of Russia and the Ministry of Finance of the Russian Federation (MiFin) have agreed that crypto mining should be allowed only in certain areas. According to a new report by RBC-Crypto, Russian officials are preparing to legalize mining activity only in energy-rich regions and aim to ban the niche in energy-scarce ones. The legislation should be adopted by the end of this year. Energy-Extensive Areas Only Reiterating the authorities’ stance, Chairman of the...

Former NSA contractor and famous whistle-blower Edward Snowden was granted Russian citizenship by President Vladimir, as reported by the state-run news agency TASS on Monday.  His name was included on a list of 71 other foreigners who also became citizens.  Snowden applied for citizenship alongside his wife in 2020 after receiving permanent residency rights, citing a desire not to be separated from his sons.  “After two years of waiting and nearly ten years of exile, a...

Russia’s central bank and Ministry of Finance have agreed on legislation to enable cross-border payments using cryptocurrency, according to a report from the Russian outlet Kommersant on Wednesday. The policy change is reportedly intended to let Russian nationals access digital wallets.  Taking Advantage of Blockchain According to Russian Deputy Finance Minister Alexei Moiseev, the bill has already been agreed to by the central bank “on the whole.” “It generally describes how...

The United States Treasury Department added five cryptocurrency addresses to its sanctions blacklist. All wallets are connected to the Russian neo-Nazi paramilitary group – Task Force Rusich – that has participated in the Ukraine war. Prior to that, the Department sanctioned the Ethereum-based cryptocurrency mixer – Tornado Cash – and Blender.io (a software tied to the Democratic People’s Republic of Korea). Weakening Russia’s Forces The US Treasury Department announced it...

The leading global accounting firm – KPMG International – claimed in one of its recent reports that the cryptocurrency market has displayed growing maturity in the past several months. This comes despite the ongoing military conflict between Russia and Ukraine and the record inflation that spreads in some countries. It is also worth noting that most digital assets trade far below their all-time high levels from 2021, but that has not stopped investments in the space....