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Russia’s ability to employ cryptocurrencies to circumvent international sanctions is restricted by the limited size of the crypto market, according to Moody’s. Despite increased use in small transactions, low liquidity is another factor preventing Russians from exploiting the utility of bitcoin and the like. Crypto Assets Not Viable Option for Sanctioned Russia, Moody’s Report Suggests … Read more
Bankoff, a platform offering virtual cards that could be topped up with cryptocurrency, has told customers its cards are no longer supported by payment systems Visa and Stripe. They allowed Russians to pay abroad after major processors restricted their services in the country. Visa and Stripe Halt Support for Bankoff Cards Payment processors Visa and … Read more
On May 2, 2022, a report stemming from the broadcast television and radio network the National Broadcasting Company (NBC), 100,000 Cubans are leveraging crypto assets. The report says increased crypto usage is due to the fact that Cubans cannot use certain payment vehicles due to the sanctions placed on Cuba by the United States. 100,000 … Read more
Digital asset exchange Binance has blocked accounts tied to relatives of government officials in Moscow. Amid mounting international penalties over Russia’s invasion of Ukraine, the trading platform said it will continue to check for users associated with sanctioned individuals. Crypto Exchange Binance Bans Children of Top Russian Figures Binance, the world’s leading cryptocurrency exchange, has … Read more
Binance blocked the account of the Kremlin spokesman’s daughter when she tried to use the exchange following the economic sanctions imposed upon Russia. Go to Source Powered by WPeMatico
The Gazette further determines that this decision will enter into force 20 days after its publication, which is May 16. Go to Source Powered by WPeMatico
The future of crypto adoption will largely depend on which of the competing narratives about digital assets and blockchain’s environmental effects prevails. Go to Source Powered by WPeMatico
Russia’s monetary authority intends to conduct the first settlements with the digital ruble next year, its governor announced this week. Speaking to Russian lawmakers, the official highlighted the important role the new currency is going to play for Russia under sanctions. Russia to Trial Digital Ruble in Settlements, International Payments The full launch of the … Read more
Exmo, a U.K.-based crypto exchange with extensive presence in Eastern Europe, is pulling out of Russia, Belarus and Kazakhstan. The trading platform, Exmo.com, says it’s making the move to avoid jeopardizing its expansion in other regions by operating in high-risk markets like these. The business has been sold to a Russian vendor, alongside rights to … Read more
The U.S.-based company Compass Mining plans to sell $30 million worth of bitcoin mining equipment that’s currently located in Siberia. The decision to sell the mining rigs follows the U.S. government sanctioning the bitcoin mining operation Bitriver and ten subsidiaries. Compass is hoping to offload 12 megawatts of capacity, according to a company executive. Compass … Read more
