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Russia’s Tech Giant Rostec to Test Digital Asset Payments in International Trade
12.9.2022
Russia’s leading technology company, Rostec, is working on a project to integrate digital assets into cross-border trade. The state-owned corporation says the market is interested in cryptocurrency payments which can reduce sanctions pressure on Russian exporters and importers. Rostec Eyes...
Russia Shuts Off EU Gas, Vitalik Discusses Bitcoin Security, and More — Bitcoin.com News Week in Review
11.9.2022
Macro markets and geopolitics dominated the news this week, with Russia cutting off Europe’s gas supply, hedge funds betting against Italian debt, and the International Monetary Fund’s bailout for Zambia helping the kwacha overtake the ruble as the world’s best-performing...
Crypto Investor Paradigm Argues Infrastructure Providers Should Not Be Subject to US Treasury Sanctions
9.9.2022
The firm laid out a legal argument against Office of Foreign Assets Control (OFAC) sanctions targeting base layer participants such as miners and validators
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...
Crypto investors backed by Coinbase sue U.S. Department of Treasury after Tornado Cash sanctions
8.9.2022
Coinbase says that the Treasury overstepped its authority in issuing the Tornado Cash sanctions
Crypto Engineers, Investors Sue US Treasury Over Tornado Cash Sanctions
8.9.2022
The Treasury’s sanctions watchdog, OFAC, exceeded its authority in blacklisting smart contract wallets, plaintiffs allege in a new suit
Putin Threatens to Let Europe ‘Freeze’ — Russian President Warns ‘We Will Not Supply Gas, Oil, Coal, Heating Oil’
8.9.2022
Following the discussions concerning the inter-governmental political forum Group of Seven (G7) pledging to impose price caps on crude oil and the European Commission talking about fixing electricity prices, Russian president Vladimir Putin explained on Wednesday that Russia will not supply...
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...
Russia Shuts off Europe’s Main Gas Pipeline Until the West’s Sanctions Are Lifted, Iran Tempts EU With Similar Deal
5.9.2022
Russia has seemingly drawn a line in the sand and will not turn on Europe’s main gas pipeline until the “collective West” lifts the financial sanctions against the country. The move follows the Nord Stream 1 pipeline allegedly shutting down for “maintenance,”...
UK Crypto Firms Must Now Report Sanctions Breaches, Freeze Accounts
5.9.2022
The U.K. Treasury, the government’s finance arm, wants crypto exchanges and wallet providers operating in the country to report suspected sanctions breaches to authorities, updated guidance shows
Sanctioned Russian Bank Tests In-app Operations With Digital Rubles
3.9.2022
A Russian bank, one of the country’s largest by assets, has conducted a successful trial with digital ruble transactions processed through its mobile app. The state-owned Promsvyazbank was one the institutions placed under Western sanctions earlier this year in connection with...
Crypto Farms Mining at Russian Oil Fields Reach 85 MW of Capacity, Analysts Say
31.8.2022
Farms mining cryptocurrency at oil wells in Russia account for 85 megawatts (MW) of energy capacity, experts have estimated. Investors are considering projects for another 200 MW despite constraints stemming from Western sanctions, a report reveals. Annual Income From Crypto Mining With Associated...
Can Privacy-Focused Bitcoin Projects Avoid OFAC Sanctions?
30.8.2022
Bitcoin that’s been sent through privacy-preserving mixers could be vulnerable to censorship. But there are some workarounds in progress
Russian PM takes cue from Iran’s crypto payment permit for imports
30.8.2022
The adoption of digital assets provides a good opportunity to ensure uninterrupted payments for imports and exports, Russia's prime minister said
While Almost 80% of Russians Know Crypto, Only 6% Understand It Well, Survey Finds
26.8.2022
The overwhelming majority of Russians in big cities are well aware of the term cryptocurrency but those with a good understanding of the topic are quite a small proportion, a new poll has indicated. Experts say that currency restrictions imposed earlier this year are helping growth in interest...
Sanctions, Disagreements Hamper Regulation of Crypto Mining in Russia, Experts Say
25.8.2022
The changing geopolitical and economic environment, as well as persisting differences between responsible government institutions, are hindering the advance of legislation tailored to regulate cryptocurrency mining in Russia. According to a report quoting industry watchers, these factors...
Stablecoin Issuer Tether Won’t Freeze Tornado Cash Addresses, Says Premature Freezing Could Jeopardize Investigations
24.8.2022
While the crypto community is still talking about the U.S. government banning the ethereum mixing platform Tornado Cash, the stablecoin issuer Tether Holdings Limited revealed on Wednesday that the company would not “freeze Tornado Cash addresses.” Tether’s recently published...
Rep. Emmer demands an explanation of OFAC’s Tornado Cash sanction from Sec. Yellen
23.8.2022
The Minnesota Republican highlighted the practical issues that could allegedly arise from the placement of smart contract addresses on the SDN list in a series of pointed questions
US Lawmaker Emmer Asks Treasury Department to Explain Tornado Cash Sanctions
23.8.2022
U.S Congressman Tom Emmer (R-Minn.) asked the Treasury Department's Office of Foreign Asset Control (OFAC) to explain its sanctioning of privacy mixer Tornado Cash