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The government of Finland is discussing supporting Ukraine with part of the money from the liquidation of millions of dollars worth of cryptocurrency seized in crime investigations. Finnish authorities want to sell the bitcoins soon and say they couldn’t come up with a better idea for the proceeds. Finland Selects Brokers to Sell $75 Million … Read more
A tech innovations firm based in Georgia’s capital Tbilisi is now “selling Russia piece by piece” in the form of NFTs. The money from the collectibles, representing almost 2,500 Russian regions, will be used to help rebuild Ukraine, which was invaded by the Russian army two months ago. Georgian Project Auctions NFTs of Russian Land, … Read more
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
Cryptocurrency exchange Binance has been accused in a media report of agreeing to provide user data to Russia’s financial watchdog. The trading platform has refuted the allegations. It also insists it’s complying with Western sanctions imposed over Moscow’s invasion of neighboring Ukraine. Binance Consented to Russian Request for Customer Info, Reuters Claims in ‘Special Report’ … Read more
The central bank of Ukraine has introduced additional restrictions on international transactions that will prevent Ukrainians from buying crypto assets abroad with the national fiat. The measures are intended to reduce capital outflow amid an ongoing military conflict with Russia. Ukraine Citizens Not Allowed to Buy Crypto Abroad From Local Currency Accounts The National Bank … Read more
Following the latest round of EU restrictions against Russia, digital asset exchange Binance is limiting services to Russian clients. The company pledged to lead the industry in implementing the sanctions and urged all major trading platforms to follow. Crypto Exchange Binance Cuts Services to Russian Accounts in Accordance With EU Penalties Binance, the world’s leading … Read more
Nations like Russia and Iran may utilize cryptocurrency mining to monetize their energy resources and circumvent sanctions, the International Monetary Fund predicts in a report. Repercussions of the war in Ukraine continue to reverberate globally and cryptoization is one of the effects, the IMF says. War, Sanctions Lead to Wider Spread of Crypto Assets, Report … Read more
The Central Bank of Russia has emphasized the importance of moving forward with its digital ruble project. According to a statement by a top representative, the monetary authority has no intention to delay the trials despite not all invited banks being ready to participate yet. Bank of Russia to Experiment With Digital Ruble Payments This … Read more
Russia’s recently revised bill “On Digital Currency” limits crypto purchases for non-qualified investors while providing legal ground for some cryptocurrency payments, according to local media. The draft law, proposed by the Russian finance ministry, also introduces strict requirements for platforms operating with digital assets. Russian Citizens Who Don’t Pass Test to Buy Only $600 Worth … Read more
Employing crypto in cross-border payments is one of the proposals put forward by the Russian Chamber Of Commerce lobbying for more cooperation with African countries. Amid unprecedented sanctions limiting Russia’s ability to trade internationally, the head of the board has urged the government to work out an alternative system for settlements with Moscow’s partners. Chamber … Read more