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War Spurs Crypto Activity in Russia and Ukraine, Chainalysis Reports
15.10.2022
The deadly conflict that started with Russia’s assault on Ukraine has increased crypto-related activity in both countries, according to Chainalysis. Fiat inflation and sanctions pressure led to several spikes in transaction volumes this year, the blockchain forensics firm has found, while Eastern...
Crypto Exchanges Still Available to Russians Despite Latest EU Sanctions, Report Unveils
13.10.2022
A list of crypto exchanges, including global platforms, have not introduced new restrictions on Russian users after the EU’s most recent sanctions round, Russian crypto media reported. The latest European penalties target an array of crypto-related services to increase pressure on Russia amid...
Russian Companies Are Using Crypto in Trade Despite Lack of Regulation, Officials Admit
10.10.2022
With limited access to global finances, Russian businesses have begun settling in cryptocurrency with their partners abroad. Although these are still small-scale payments, government officials have noted their increase, which comes even before authorities have decided how to regulate these...
Dapper Labs Suspends NFT Operations for Russian Users Amid New EU Sanctions
10.10.2022
Canadian company Dapper Labs has blocked operations with non-fungible tokens (NFTs) for Russian accounts. The move follows a new round of sanctions recently imposed by the EU which prohibit the provision of crypto-related services to Russian residents and entities. NFT Platform Dapper Labs Conforms...
Latest EU Sanctions Expected to Stimulate Russia’s Own Crypto Market, Exchanges Maintain Services
9.10.2022
The new crypto sanctions imposed by the European Union are likely to spur the development of the country’s digital asset market, according to a Russian lawmaker. Anatoly Aksakov, who chairs the parliamentary Financial Market Committee, believes Russians will manage to bypass...
EU Bans Crypto Services for Russians in New Sanctions Over Ukraine Escalation
7.10.2022
An array of crypto-related services have been targeted in the latest round of sanctions on Russia approved by the EU. The measures are part of an expected tightening of the economic and financial restrictions in response to Moscow’s decision to annex Ukrainian territories. EU Council Adopts...
Crypto Exchange Okx Blocked by Russia’s Telecom Watchdog
7.10.2022
Russian media and communications regulator, Roskomnadzor, has restricted access to the website of a major cryptocurrency exchange, Okx. The trading platform was one of those that did not restrict access for Russians amid sanctions that affected the industry’s business in Russia....
Latest EU Sanctions to Restrict Russians’ Access to Crypto Services in Europe, Report Unveils
1.10.2022
New sanctions discussed by EU member states amid the current escalation of the conflict in Ukraine are going to restrict European crypto services for Russians. Reports about the tightening have come after earlier this year the Union banned only “high-value” crypto-asset services...
Settlements With China — Russia Plans Next Step for Digital Ruble
28.9.2022
Russia intends to use its digital ruble, to be introduced early next year, for payments with its key ally, China. Authorities in Moscow hope other nations will be willing to adopt the Russian digital currency in trade, which will allow the country to circumvent sanctions imposed over the Ukraine...
Crypto Payments May Not Help Russia Bypass Sanctions, Experts Say
26.9.2022
Russia is preparing to authorize international crypto payments but people involved in the industry doubt this would allow the country to circumvent sanctions. At the same time, the United States has been tightening the noose, recently targeting the use of cryptocurrencies to dodge the financial...
Ethereum-Based ‘Cryptoruble’ Token Under Development in Russia
18.9.2022
Developers are working on a “cryptoruble” that, as they say, can improve Russians’ access to global exchanges and be used for cross-border payments. Defi platform Indefibank, which is behind the project, says the token will be pegged to the national fiat but independent from...
Sales of Hardware Crypto Wallets Decline in Russia With Easing Currency Restrictions
16.9.2022
Interest in hardware wallets allowing cold storage of cryptocurrencies is decreasing among Russian users after this year’s surge that followed the invasion of Ukraine. The sale volumes for these devices have almost halved, according to a report quoting leading marketplaces. Russians’...
Foreigners to Be Given Anonymous Entry Points to Digital Ruble, Russian Official Suggests
15.9.2022
Foreign nationals should be able to buy Russia’s upcoming digital ruble through entry points providing anonymity, according to a high-ranking member of the Russian parliament. The idea circulated in Moscow aims to protect these investors from Western sanctions. State Duma Deputy Proposes...
Filecoin service provider announces move to Singapore in light of tightening restrictions in China
13.9.2022
The service provider also announced the launch of a new system upgrade to increase yield efficiency
Ethiopian Central Bank Restricts Amount of Cash Travelers Can Hold, Sets Foreign Currency Conditions
13.9.2022
According to the National Bank of Ethiopia’s directive, which became effective on September 5, persons entering and departing the country in possession of local currency are now subject to new restrictions. Individuals may not hold local currency whose value exceeds $57.00 or 3,000 birr....
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...
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...
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...