Russia’s minister of industry and trade, Dennis Manturov, believes it’s only a matter of time before crypto becomes a means of payment in the country, Reuters reported. Manturov made the statement at a forum in response to a question about whether crypto could become a legal means of payment, the report said. According to Manturov:…
The U.S. has announced new sanctions against entities connected to Russia, and this time around, one of them is a crypto mining company, according to a Reuters report. BitRiver operations hit with sanctions According to the US Treasury Department, the over 40 entities and people include the holding company of Moscow-based Bitcoin miner, BitRiver. It…
Announced in a blog post published on Tuesday, April 12, the Belarusian crypto exchange Currency.com says it will restrict its services for Russian users following Vladimir Putin’s invasion of Ukraine earlier this year. “The Russian invasion of Ukraine brought violence and disorder to the people of Ukraine. We condemn the Russian aggression in the strongest…
The ongoing war in Ukraine has firmly placed the importance of assets like Bitcoin and gold in the front seat of the global financial system, according to financial asset management firm VanEck. The firm believes that under an extreme scenario where gold or Bitcoin becomes the reserve currency of the world, the value of the digital…
Anyone who seeks to help Russia bypass economic sanctions will be held accountable by the US government, says Deputy U.S. Treasury Secretary Wally Adeyemo. This follows the punitive measures that the US and its allies have imposed on Russia for its decision to invade Ukraine. Treasury Department warns anyone against helping Russia bypass sanctions Since…
As Russia’s war in Ukraine continues, cryptocurrencies are taking on an important role in the conflict, but not in the capacity of evading sanctions on Russian entities or oligarchs. On the contrary, crypto has proven itself to be very useful in supporting Ukraine as users around the world have donated over $56 million in cryptocurrency…
News of Russia’s invasion of Ukraine on February 24 saw the value of Bitcoin tanking along with that of other cryptocurrencies. However, the crypto market has since shown a resilience that many crypto analysts have always talked about as the prices of these digital assets have recovered, but they are now trading at a much…
Russia’s Deputy Minister of Energy said that cryptocurrency mining in the country should be fully legalized as soon as possible. This Saturday, the minister addressed the legal vacuum cryptocurrency mining exists in, saying that the fact that the industry is regulated federally, instead of locally, significantly hinders its development. More officials in Russia want more…
Pavel Zavalny, the head of Russia’s Committee on Energy, said earlier today that the country will enable friendly countries to pay for oil, gas, and other exports in Bitcoin. The statement comes as Russian lawmakers look to offset the economic damage from sanctions imposed by the U.S. and the E.U. and amp up trade with…
Last week U.S. Senator Elizabeth Warren (D-MA), along with ten other democrat senators, introduced a bill to block cryptocurrency companies from conducting business with sanctioned companies, fearing cryptocurrencies might constitute a vehicle for evading sanctions against Russia in the ongoing war with Ukraine. In short, the Digital Asset Sanctions Compliance Enhancement Act of 2022, as…