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Bank of Russia to Promote Digital Ruble in Foreign Trade as Finance Ministry Pushes for Crypto Option
10.9.2022
Days after the two institutions agreed on the need for cross-border crypto payments, the finance ministry and the central bank of Russia are once again highlighting their different priorities. While the treasury department aims for legalizing cryptocurrency payments in the coming months,...
500,000 DAI From DAO Maker Exploit Was Sent Through Tornado Cash, Security Analysts Report
9.9.2022
On September 8, the crypto security and smart contract auditing firm Certik revealed that 500,000 DAI was sent through the Tornado Cash mixing platform after the funds were stolen in August 2021. The digital assets originally stemmed from the DAO Maker breach that saw the loss of more than...
Top Russian Lawmaker Joins Calls for Legalizing International Crypto Payments
9.9.2022
A high-ranking member of the Russian parliament has urged for the adoption of a relevant legal framework to properly regulate cross-border crypto payments. His proposal comes after key regulators in Moscow said that Russia needs to allow the use of cryptocurrencies in foreign trade, now that...
Russia Explores Stablecoins for Settlements With Friendly Nations
7.9.2022
Russia is cooperating with friendly countries on the potential employment of stablecoins in international payments, a top government official unveiled. The news comes after key institutions in Moscow agreed that the Russian Federation needs to legalize cross-border crypto payments in the face...
Russia Can’t Do Without Cross-Border Crypto Payments, Consensus Reached
7.9.2022
Key government institutions have agreed that Russia needs to legalize crypto payments for international settlements. The proposal has been gaining support in the past few months since Moscow’s decision to invade Ukraine was met with wave after wave of Western sanctions. Financial Authorities...
Australian Treasury consults public on Bitcoin foreign currency tax exclusion
6.9.2022
The public has been provided with 25 days to share their opinion on the proposed legislation
IMF Bailout Approval Helps Zambian Kwacha Take the Russian Ruble’s Position as World’s Best Performing Currency
3.9.2022
After the International Money Fund revealed it had approved a bailout package for Zambia, the Southern African country’s currency, the kwacha, rallied by 3.1%. Following this gain, the kwacha took the Russian ruble’s position as the world’s best-performing currency in 2022....
Russian PM Says Digital Assets Are ‘Safe Alternative’ in Foreign Trade, Urges for Ruble Payments
31.8.2022
Russian Prime Minister Mikhail Mishustin has praised digital assets as a payment instrument that could strengthen Russia’s financial independence. The top government official also called for increasing the use of the ruble for international settlements. Head of Russian Government Sees...
Bank of Russia Eases Restrictions on Purchases of Dollar and Euro Cash
28.8.2022
The Central Bank of Russia has relaxed some limitations for Russian banks selling U.S. dollars and euros to the public. The increased supply of foreign cash may affect the crypto market in the country as currency restrictions have been a driver of increased demand for digital coins. Monetary...
Afghanistan Closes Down 16 Cryptocurrency Exchanges, Arrests Operators
26.8.2022
Law enforcement in Afghanistan has shut down over a dozen crypto exchanges in Herat, detaining the people who were running them. The offensive comes after the introduction of a ban on online foreign exchange that the Taliban seem to have applied to coin trading as well. Taliban Government Goes...
Latest Ghana Benchmark Rate Hike the Largest on Record — President Promises Action Against ‘Unacceptable Depreciation of the Cedi’
23.8.2022
After seeing Ghana’s inflation rate surge to 31.7% in July, the Bank of Ghana responded by hiking the benchmark interest rate by 300 basis points. In addition to the rate hike, the central bank said it will gradually raise banks’ primary reserve requirements. One expert has said...
Iran Impart Association demands regulatory clarity to use crypto in foreign trade
23.8.2022
Corporate lobbyists urge the government to create a proper infrastructure and avoid the emergence of business rent
Iranian Association Calls for Stable Crypto Regulation as Government Plans Widespread Use of Crypto in Foreign Trade
23.8.2022
Iran’s association of importers has stressed the need for a stable regulatory framework for cryptocurrencies now that the Iranian government is officially using crypto to pay for imports. “By the end of September, the use of cryptocurrencies and smart contracts will be widespread...
Korean Regulator Takes Action Against 16 Foreign Crypto Exchanges
20.8.2022
The South Korean financial intelligence unit is taking action against 16 foreign cryptocurrency exchanges for operating illegally in the country. “For illegal business activities of unregistered entities, maximum of 5 years of imprisonment or up to KRW 50 million of fines can...
The Philippines pushes back against foreign exchanges, continuing a protectionist streak
19.8.2022
The Central Bank of the Philippines warns the public against using non-local crypto trading platforms
Philippine Regulator Warns the Public of Engaging With Foreign Crypto Service Providers
19.8.2022
The central bank of the Philippines, the primary regulator of the country’s crypto sector, has warned investors about engaging with unregistered and foreign crypto service providers. They “may present additional challenges on enforcing legal recourse and consumer protection...
Coin Center Says OFAC’s Tornado Cash Ban ‘Exceeds Statutory Authority,’ Plans to ‘Engage’ With US Watchdog
16.8.2022
On August 15, the non-profit that focuses on policy issues facing crypto assets, Coin Center, published a blog post that says the organization is looking at the legality of the recent Tornado Cash sanctions enforced by the U.S. Treasury Department’s Office of Foreign Asset Control (OFAC)....
Uzbekistan blocks access to foreign crypto exchanges over unregistered trading
12.8.2022
The national regulator urges the industry players to comply with the local legislation
Uzbekistan Moves to Block Foreign Cryptocurrency Exchanges
12.8.2022
Authorities in Uzbekistan are restricting access to online crypto trading platforms based outside the country and not registered under its laws. A presidential decree obliges citizens and local companies to only use digital asset exchanges licensed by the government of the Central Asian nation....
Iran Places First Official Import Order With Cryptocurrency Worth $10 Million
10.8.2022
Iran has placed its first official import order using cryptocurrency worth $10 million, according to a government official. “By the end of September, the use of cryptocurrencies and smart contracts will be widespread in foreign trade with target countries,” the official added. Iran...