russian sanctions – DIGIT INFO

Lithuania Fines Crypto Firm $10M for Russian Sanctions Violations

DIGIT — Thu, 11 Jul 2024 06:33:18 +0000

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 in Russian rubles through its platform, involving sanctioned Russian banks and clients. Additionally, a 1.06 million euro […]

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While the US Dollar Tramples the Euro, Pound and Yen, Russia’s Ruble Skyrockets Against the Greenback

DIGIT — Sun, 25 Sep 2022 16:00:18 +0000

While the U.S. dollar has soared in value against a basket of worldwide fiat currencies, Russia’s ruble climbed 4.5% against the greenback this week. During the first week of September, Russia told the press China would pay for natural gas with rubles and yuan. Moreover, Switzerland’s imports of Russian gold reached a high not seen […]

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Vladimir Putin Says West’s Attempt to ‘Crush the Russian Economy’ Did Not Succeed

DIGIT — Fri, 01 Jul 2022 19:30:37 +0000

Last week the Russian ruble hit a seven-year high against the U.S. dollar and while analysts have downplayed the rise, one economist said people should not “ignore the exchange rate.” American economists have been perplexed about the ruble’s market performance and Russian officials have been quoted as saying that a strong ruble “makes Russian exports […]

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Russian Ruble Taps 7-Year High Against the US Dollar — Economist Says ‘Don’t Ignore the Exchange Rate’

DIGIT — Tue, 21 Jun 2022 17:30:13 +0000

Recent news reports have detailed that Russia’s fiat currency, the ruble, was the best-performing currency worldwide and the articles explained that American economists were perplexed by the trend. On Monday, the Russian ruble rose to 55.47 per dollar, which was the highest increase since 2015. While many have dismissed the ruble’s exchange rate, Charles Lichfield, […]

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American Economists Are Baffled by an ‘Unusual Situation’ as Russia’s Ruble Is the World’s Best Performing Fiat Currency

DIGIT — Thu, 09 Jun 2022 04:30:18 +0000

Two months after the Russian ruble fell below a U.S. penny, the transcontinental country’s fiat currency is the best performing currency worldwide. American economists are baffled by the “unusual situation” because a country facing stiff sanctions typically sees its fiat currency decline in value, but Russia’s ruble has done the exact opposite. Russia’s Ruble Outshines […]

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Russia’s Central Bank Slashes Benchmark Rate, Pegs RUB to Gold — Ruble Rebounds to Pre-War Levels

DIGIT — Fri, 08 Apr 2022 23:30:29 +0000

Amid the Ukraine-Russia conflict, the Russian ruble has managed to rebound despite the strict sanctions imposed against the Russian Federation. The country’s central bank has taken a few steps to protect the nation’s currency as the Bank of Russia revealed a fixed price for gold and rubles. Furthermore, after pegging the fiat currency to gold, […]

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ECB Chief: Cryptocurrencies Are ‘Certainly’ Being Used to Circumvent Russian Sanctions

DIGIT — Wed, 23 Mar 2022 01:30:24 +0000

The European Central Bank (ECB) warns cryptocurrencies are being used to evade sanctions by Russians. ECB President Christine Lagarde warns crypto firms against becoming “accomplices” in the crime. ECB President Lagarde Is Certain About Crypto Being Used to Evade Russian Sanctions Christine Lagarde, president of the European Central Bank (ECB), said Tuesday at the Bank […]

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US Senators Introduce Crypto Sanctions Bill — Expert Says It’s Overbroad, Unconstitutional

DIGIT — Sat, 19 Mar 2022 01:30:11 +0000

U.S. Senator Elizabeth Warren and 10 other lawmakers have introduced the “Digital Asset Sanctions Compliance Enhancement Act of 2022.” The bill “would place sweeping restrictions on persons who build, operate, and use cryptocurrency networks even if they have no knowledge or intent to help evade sanctions,” an expert said. Lawmakers Unveil Digital Asset Sanctions Compliance […]

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Senator Warren seizes on fears over crypto and sanctions with new bill

DIGIT — Wed, 09 Mar 2022 03:19:40 +0000

If passed, Elizabeth Warren’s new draft crypto bill will require local crypto exchanges to submit “detailed records” to the Treasury Department of customers’ identities and transfers to private crypto wallets.

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Report: LBMA Asks 6 Russian Gold Refiners if They Have Ties to Sanctioned Entities

DIGIT — Mon, 07 Mar 2022 11:30:30 +0000

The London Bullion Market Association (LBMA) said it wants six accredited Russian gold refiners to clarify if they have commercial ties with sanctioned Russian entities. The association’s request comes a few days after it revoked the membership of three sanctioned Russian banks. LBMA Accreditation The London Bullion Market Association (LBMA) has requested six Russian gold […]

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