Tag Archives: Ukraine

One of the largest pharmacy chains in Ukraine – ANC Pharmacy – joined forces with Binance to enable customers to pay for medical products and supplies in cryptocurrencies.  The exchange has provided its services to the war-torn country numerous times over the past several months. It donated $10 million worth of digital assets to Ukraine shortly after the launch of the Russian “special military operation” and introduced a crypto card designated for Ukrainian refugees. Buying...

On December 15, the Stellar Development Foundation (SDF) announced its partnership with the United Nations High Commissioner for Refugees (UNHCR) to pilot a digital cash disbursement system powered by Stellar to send money to Ukrainians in need. UNHCR is the United Nations agency tasked with protecting refugees and those displaced by persecution or political conflict. Stellar will focus on instantly delivering the UN’s aid via the “Stellar Aid Assist” pilot project. It...

Crypto adoption is shooting through the roof despite the bear market and uncertainty surrounding asset prices, according to recent findings from the leading decentralized application (dApp) analytics platform DappRadar.  The analysis, dubbed the Blockchain Behavior Report, outlined major trends that affected the blockchain space in the last quarter, including regions where crypto adoption accelerated in both usage and regulatory efforts. Countries That Led Crypto Adoption in...

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...

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...

Chainalysis’ recent report, called “The 2022 Global Crypto Adoption Index,” revealed that digital asset adoption has slowed down in the past 12 months due to the crypto winter but remains above pre-bull market levels. The leader from 2021 – Vietnam – was placed first again, while the Philippines and war-torn Ukraine followed shortly after. Interestingly, China (where the interest in bitcoin plunged significantly due to the crypto ban in 2021) re-entered the top 10. The New...

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....

The United Nations Conference on Trade and Development (UNCTAD) believes the impact of cryptocurrencies should be limited in developing nations. According to the agency, digital assets are unstable financial products that could cause further issues to already shattered economies. Amid the global monetary crisis, numerous residents of emerging countries chose to convert their depreciating fiat currencies into stablecoins. However, the UNCTAD warned that such tokens also pose...

The Chairman of the Financial Stability Board (FSB) – Klaas Knot – raised concerns that the cryptocurrency sector could harm the monetary network in the future. In his view, the digital asset market is expanding at a fast pace, while some of the tokens are employed by criminals in illicit activities. “For these reasons, policy work on crypto assets is a priority for the FSB,” the executive outlined. The FSB Wants to Regulate “Unbacked” Crypto The lack of an appropriate...