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China is closely studying Russia’s strategies for countering Western sanctions, viewing the situation as a model for preparing against similar economic measures in case of a Taiwan conflict. Beijing has reportedly formed an interagency group to analyze Russia’s experiences, from foreign reserve diversification to sanctions evasion tactics like shadow fleets and alternate trade routes. Chinese … Read more
Russia’s central bank, the Bank of Russia, has revealed that over 80% of major Russian exporters’ revenues are now denominated in rubles and “friendly” currencies, marking a significant shift from Western currencies. Deputy Governor Philipp Gabuniya highlighted this transition, noting that the share of “toxic” currencies — namely the U.S. dollar and euro — dropped … Read more
Alan Joseph, a Lancaster, Massachusetts man, was convicted on Nov. 22 for running an unlicensed business that converted cash into bitcoin to aid criminal activities, the U.S. Department of Justice (DOJ) said on Tuesday. Between August 2020 and February 2021, Joseph conducted transactions, including a $25,000 cash-to-bitcoin exchange, for an undercover agent who claimed involvement … Read more
The Financial Conduct Authority (FCA) reports growing awareness of cryptocurrency in the UK, now at 93%, alongside a rise in ownership, which has reached 12% of adults, up from 10%. The average crypto holdings have grown to £1,842, with most new investors relying on family and friends for information. Alarmingly, 10% of buyers admitted to … Read more
On Tuesday, CNBC’s Mad Money host Jim Cramer shared on X: “I always find it hilarious when I read ‘time to dump crypto’ when I have owned and backed crypto since Thestreet.com days. Remember that?” As co-founder of the financial website, Cramer was an early observer of the financial landscape, including emerging digital assets. However, … Read more
A U.S. federal judge declined the SEC’s request to sanction Elon Musk over his absence from a court-ordered testimony related to his $44 billion acquisition of Twitter. Judge Jacqueline Scott Corley ruled sanctions unnecessary as Musk testified on Oct. 3 and reimbursed the SEC $2,923 for travel expenses. The SEC argued Musk violated a May … Read more
U.S. sanctions on Gazprombank may disrupt payment processes for Russian oil and gas buyers, potentially increasing energy costs in Europe, according to experts cited by Tass. Analysts warn that seeking alternative payment methods, such as using other banks or currencies, could heighten risks and complexity, driving up hydrocarbon prices. Alexander Frolov from the Institute of … Read more
A federal grand jury in Miami has charged nine individuals with laundering U.S. drug proceeds into cryptocurrency for Mexican and Colombian cartels, utilizing “a network of black market cryptocurrency launderers and unlicensed money transmitters,” according to the U.S. Department of Justice. From 2020 to 2023, defendants allegedly coordinated cash pickups from U.S. drug sales, converting … Read more
The U.S. Justice Department has announced the seizure of Popeyetools, a cybercrime marketplace, and unmasked its role in illicit cryptocurrency transactions. Administrators Abdul Ghaffar, Abdul Sami, and Javed Mirza were charged with selling stolen financial data and facilitating crimes involving ransomware and fraud. Since 2016, Popeyetools generated $1.7 million in revenue, partly from cryptocurrency payments, … Read more
Cryptocurrency exchange Binance warned its community on Monday about a surge in fraudulent tokens falsely claiming affiliation with the platform, spreading across social media. The company emphasized that these tokens are neither endorsed nor authorized by Binance, potentially exposing users to scams and financial harm. “Please remember to verify information through our official channels. Be … Read more
