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Lithuania Fines Crypto Firm $10M for Russian Sanctions Violations
11.7.2024
The Lithuanian Financial Crime Investigation Service (FNTT) has fined the crypto firm Payeer nearly 9.3 million euros ($10 million) for international sanctions violations and anti-money laundering (AML) breaches. Specifically, Payeer was fined 8.23 million euros for facilitating transactions...
Crypto remittances in Venezuela surge as economic situation worsens
5.7.2024
Sanctions from the United States, spiraling inflation, and government corruption have created an economic nightmare for Venezuelans
Russian Central Bank Suggests Using Crypto to Counter Western Sanctions
4.7.2024
Russia’s central bank has urged businesses to consider various payment solutions, including cryptocurrencies and digital assets, to manage transactions with foreign partners and counter Western sanctions. Bank of Russia Governor Elvira Nabiullina highlighted that the central bank has softened...
EU Targets Crypto Asset Providers Accused of Aiding Russia in Warfare Against Ukraine
26.6.2024
The most recent European Union sanctions against the Kremlin prohibit Eurozone operators from engaging with crypto asset providers that facilitate transactions supporting Russia’s defence-industrial base. Additionally, the new sanctions regime forbids Eurozone operators from utilizing...
Iran to launch public CBDC pilot in June
19.6.2024
Unlike other types of electronic money in Iran, the digital rial doesn’t require interbank settlement to transfer funds between the buyer and the seller
US prosecutors oppose Ethereum dev’s motion to reduce 5-year sentence
18.6.2024
In April 2022, a judge sentenced Virgil Griffith to 63 months in prison for violating U.S. sanctions on North Korea
Venezuela Likely to Keep Using Crypto to Bypass New Set of US Sanctions
17.6.2024
According to Venezuelan dissidents and cryptocurrency analysts, the government of Venezuela is likely to keep using crypto to bypass the returning sanctions on oil and gold activities. Even when Nicolas Maduro’s administration seems to have been affected by corruption cases involving crypto...
Moscow Exchange Stops Trading in Dollar and Euro Due to US Sanctions
14.6.2024
On Wednesday, the Moscow Exchange (MOEX) announced new restrictions on its trading activities. The exchange revealed that, due to the enactment of U.S. sanctions against its platform, it would stop activity in all trading pairs involving the U.S. dollar and the euro. These measures came into effect...
US Lawmaker Proposes Stricter Digital Asset Regulations to Enforce Russian Sanctions
14.6.2024
U.S. Congressman Brad Sherman has proposed an amendment designed to enhance the enforcement of sanctions on Russian digital assets. The amendment allows the Treasury Secretary to prohibit crypto transactions linked to Russian entities and requires U.S. taxpayers to report crypto transactions...
US Treasury Expands Sanctions to Cripple Russian War Economy
14.6.2024
The U.S. Treasury Department announced Wednesday that over 300 new sanctions have been issued to intensify pressure on Russia for its ongoing war against Ukraine. These measures, in alignment with G7 commitments, target entities and individuals globally to cripple Russia’s military-industrial base...
Senate Bill Could Open Crypto to U.S. Sanctions, but Industry Trying to Head it Off
10.6.2024
A piece of legislation with heavy implications for the digital assets sector made it through the Senate Select Committee on Intelligence's funding package recently without most in the industry – and many in Congress – apparently aware of it, but industry insiders consider its chances for survival...
Companies Turn to Crypto for Payments as G7 and EU Mull Sanctions on Russian SWIFT Equivalent
2.6.2024
Some Russian companies have turned to using crypto to settle payments and protect themselves from potential secondary sanctions from Western countries. At least two top metal producers have transacted using USDT, the largest stablecoin in the crypto market, as the G7 and the EU mull more sanctions...
Tornado Cash sentence 'radically unfair and unreasonable' — Nym CEO
30.5.2024
CEO Harry Halpin pointed to history and used Nazi Germany as an example of why digital privacy must be protected in the 21st century
Russian Traffic to Global Crypto Exchanges Surges; Central Bank Warns of Western Sanctions Risk
28.5.2024
The surge in Russian traffic to global cryptocurrency exchange platforms in the last two quarters has prompted officials to issue a warning about the risk of Western sanctions. According to a central bank study, Russian traffic to some of the largest crypto exchanges increased by 16.4%, reaching...
US Lawmakers Urge Treasury Action on Russian Crypto Exchange Sanctions Evasion
16.5.2024
U.S. Congressman Gabe Amo (D-RI), along with Congressmen Brad Sherman (D-CA) and Gerald E. Connolly (D-VA), sent a letter to U.S. Treasury Secretary Janet Yellen regarding the Moscow-based cryptocurrency exchange Garantex. They expressed concerns that Garantex is reportedly facilitating sanctions...
North Korea Laundered $147.5M in Stolen Crypto Through Tornado Cash: UN
15.5.2024
The North Korean perpetrators reportedly laundered stolen cryptos through Tornado Cash crypto mixer in March, UN sanctions monitor noted.
The post North Korea Laundered $147.5M in Stolen Crypto Through Tornado Cash: UN appeared first on Cryptonews
SEC tries again for Debt Box suit dismissal with option to refile
14.5.2024
The SEC says case dismissal without prejudice is “normally granted” when a plaintiff requests it, but the court has criticized the agency’s current suit
US Sanctions Lockbit Leader in Ransomware Crackdown
8.5.2024
On May 7, the U.S. announced sanctions against Dmitry Yuryevich Khoroshev, a key figure in the Lockbit ransomware group. The U.S., alongside international allies including the UK and Australia, has taken coordinated measures to curb the activities of this prominent cybercriminal group. Khoroshev...
Nigerian fintechs crack down on crypto, users face account blocks
3.5.2024
The CBN's attitude to crypto has been inconsistent in recent years and the crackdown contradicts a decision taken in 2021 to facilitate crypto account opening
US lawmakers warn of Iranian crypto miners threatening national security
2.5.2024
According to Senators Elizabeth Warren and Angus King, the Iranian government has used funds from crypto mining to fund terrorist organizations