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A statement from ECB President Christine Lagarde labeling cryptocurrency a “threat” to global security seems at odds with the real world data and expert opinion. Go to Source Powered by WPeMatico
A call to make the digital ruble a reserve currency has been issued in the State Duma, the lower house of Russia’s parliament. Meanwhile, concerns have been raised in the West that the new incarnation of the Russian fiat may be employed to evade sanctions that have been isolating the country. Digital Ruble to Serve … Read more
Bank of Russia has recommended commercial banks pay heightened attention to their clients’ transactions related to cryptocurrencies. The regulator requires the financial institutions to monitor such activity against the backdrop of restrictions on currency operations amid western sanctions. Monetary Authority Urges Banks to Control Spending Linked to Crypto Assets The Central Bank of Russia (CBR) … Read more
Sberbank, Russia’s largest bank, has been authorized by the country’s monetary policy regulator to issue digital financial assets. The move comes amid tightening Western sanctions over the war in Ukraine, including limiting Moscow’s access to the global financial market. Sberbank Added to Central Bank’s Register of Crypto Asset Issuers The Central Bank of Russia (CBR) … Read more
The regulator’s recommendation is designed to prevent capital flight amid economic collapse. Go to Source Powered by WPeMatico
As western sanctions increase the pressure on their country’s economy, many young Russians consider cryptocurrency to be a “reliable and profitable” investment option. According to a recent study, the share of Russian citizens who know about bitcoin has reached two thirds of the population. Under Sanctions, Russians Consider Buying Property, Gold, and Crypto Financial and … Read more
On March 16, Arthur Hayes, the co-founder of the cryptocurrency exchange Bitmex, published a blog post called “Energy Cancelled,” which describes the economics behind the ongoing Russia-Ukraine war. Hayes explains in his 26-minute long opinion piece that historians may point to February 26, 2022, as the time in history when the “Petro Dollar / Euro … Read more
Brad Sherman said the Biden administration should have the ability to tell crypto exchanges not to do “business with Russia-based crypto wallets” amid the situation with Ukraine. Go to Source Powered by WPeMatico
The entity had previously called for the government to ban cryptocurrencies in Russia. Go to Source Powered by WPeMatico
“Overattributing cybercrime to cryptocurrency misses critical causes and preventive measures which can be taken,” said former FinCEN acting director Michael Mosier. Go to Source Powered by WPeMatico
