Tag Archives: Ukraine

In light of global trade restrictions against Russia, Chainalysis has introduced two new tools for helping businesses ensure that they don’t interact with sanctioned entities through blockchain. Enforcing Sanctions in Crypto The first of these tools – according to a statement from the company – is an on-chain oracle. The smart contract will store data from economic embargo lists provided by various western authorities like the US, EU, or United Nations. The oracle may be...

Coinbase – one of the largest and most popular cryptocurrency exchanges in the world – announced earlier in the week that it is taking heavy action against Russian accounts on its platform. The company has worked to block as many as 25,000 separate crypto accounts allegedly stemming from Russia and that are believed to be involved in illicit activity. Coinbase Works Against Russian Accounts In addition, Coinbase says that it is revamping its efforts to push against...

The cryptocurrency market went through some massive volatility throughout the past week. This was largely induced by President Joe Biden’s executive order on digital assets, US inflation numbers coming up, and the ongoing war between Russia and Ukraine. Let’s unpack. Bitcoin’s price was trading at around $41,000 this time last week but quickly headed south and dropped towards $39K on Saturday. What followed was a few days of choppy sideways action, and BTC even declined to...

With the recent invasion of Ukraine by Russia, many have stated that the imposing nation is going to look to bitcoin and assorted cryptocurrencies to avoid or get around sanctions enforced by the United States and its allies. In response to this, the U.S. is now creating a special task force to prevent that from happening. Can Russia Use Crypto? Roughly two weeks ago, the world watched in shock and horror as Russia invaded its neighbor Ukraine. Thus far, several civilian...

Binance has just donated to help the children of Ukraine in their country’s ongoing war against Russia, joining a growing wave of individuals within the crypto ecosystem who are giving money and taking a stand for the country’s struggle. Binance Charity, the non-profit charitable arm of Binance, announced a $2.5 million cryptocurrency donation to UNICEF. The goal is to help cover the organization’s expenses as it supports Ukrainian children and families who have been affected...

Visa and Mastercard joined the growing list of western financial companies that announced plans to withdraw from Russia. Looking for alternatives, the nation’s central bank said it has turned to China’s UnionPay system. President Vladimir Putin launched a “special military operation” against Ukraine less than two weeks ago, which still continues until this day with no real endgame in sight for either side. NATO and the EU decided not to escalate the conflict by getting...

Over the last few weeks, Live Bitcoin News has been carefully and closely monitoring Russia’s invasion of Ukraine. We have reported the high number of bitcoin and crypto donations the country has received, which are now allegedly being used to support Ukraine’s military and give people the supplies they need to fight back. Ukraine Keeps Getting Digital Money Not long ago, Ukraine was reported to have earned as much as $12 million in crypto donations. Now, it appears the...

Ukraine’s NFT auction has come to a very profitable end: On Wednesday, the country raised $6.75 million worth of ETH after a three-day bidding process for an image of its flag. The bidding process began on February 26th, when the flag NFT was listed. It ended on March 2nd, in a sale for 2,174 ETH. A long list of over 3000 smaller contributors helped bring that number up to 2,258 ETH. Though worth $6.75 million at the time, it is now worth $5.69 million due to a decline in...

Bitcoin has surged. The world’s number one digital currency by market cap is once again trading above the $40,000 mark, meaning the Russian invasion of Ukraine may be having sudden opposite effects. Ukraine Invasion May Have Aided BTC Over the past week, the world watched in horror as Russia invaded its neighbor Ukraine. The price of bitcoin immediately began to tank as fears of war began running across the globe. Traders began to view their digital asset savings...

Sanctions from the West have been hitting Russia’s economy hard. But Japan’s financial regulator and the country’s industry body for cryptocurrencies is now looking to ensure that these sanctions are carried out effectively. It aims to do so by plugging loopholes and restricting the transfer of digital assets of individuals and entities on the nation’s sanctions list. Crackdown on Russian Cryptocurrency Transactions From shutting out of the international payment gateway SWIFT...