Sanctions

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Venezuela’s Oil-Backed Cryptocurrency Declared Illegal

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The Venezuelan parliament has declared the oil-backed cryptocurrency created by President Nicolas Maduro illegal and in violation of the country’s Constitution. Maduro’s decree to create the national cryptocurrency, the petro, has been declared null and void. Also read: South Korea Urges 23 Countries, EU, and IMF to Collaborate on Curbing Crypto Trading Venezuelan Parliament Declared … Read more

Putin Wants to Use Cryptoruble to Evade Sanctions But Bank of Russia Skeptical

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Russia’s president Vladimir Putin has reportedly commissioned work to create a cryptocurrency as a tool to circumvent international sanctions. His economic adviser explained that “no mining is possible” for the cryptoruble. Meanwhile, the country’s central bank and finance ministry have expressed skepticism about this “cryptocurrency.” Also read: Russian Cryptocurrency Bill Is Ready – Regulators Share Details … Read more