Bitcoin miners in Russia worry about sanctions as government starts collecting wallet addresses
Russian Bitcoin miners fear exposure to sanctions as the government compiles a registry containing wallet addresses and other sensitive data. Bitcoin (BTC) miners in Russia aren’t thrilled about a new government registry that’s scooping up sensitive data, including crypto wallet addresses, under new rules. If leaked, it could be a “big gift to our geopolitical […]
Deribit to exit Russian market, blames EU sanctions
Cryptocurrency derivatives exchange Deribit is shutting down its services for Russian users to comply with European Union sanctions. The company, headquartered in the Netherlands, announced that it will enforce trading restrictions beginning Feb. 17, with full account closures set for March 29. In a notice posted on Feb. 5, Deribit stated that Russian nationals and […]
Russia’s official backs CBDC as key tool for business to dodge sanctions: report
A Russian lawmaker has emphasized the digital ruble’s role in helping businesses bypass sanctions and streamline operations. Russia’s central bank digital currency — also known as the digital ruble — will simplify life for entrepreneurs, especially those impacted by sanctions, according to Artem Kiryanov, deputy chairman of the State Duma’s economic policy committee. In an […]
Upbit subject to potential sanctions in South Korea
Upbit may face penalties for alleged South Korean financial regulation violations. Upbit, South Korea’s largest crypto exchange, may face sanctions from the nation’s Financial Services Commission for allegedly failing to comply with know-your-customer (KYC) and anti-money laundering rules. Last week, the platform received a procedural sanctions notice from the FSC’s Financial Information Analysis Institute, according […]
Ukraine promises sanctions over Russia’s use of Bitcoin in foreign trade: report
Ukraine is gearing up to block Russia’s use of Bitcoin and other cryptocurrencies in foreign trade, with sanctions already in the works. The government of Ukraine has unveiled plans to impose “sanctions and other solutions” aimed at blocking Russia‘s use of Bitcoin (BTC) for international payments, just a day after Russia’s finance minister Anton Siluanov […]
South Korea sanctions DPRK hackers behind crypto attacks
South Korea has imposed new sanctions on North Korean hackers responsible for stealing over $1 billion in crypto, with the illicit funds fueling the regime’s weapons programs. The South Korean government has announced sanctions on the 313 Bureau, a North Korean cyber unit involved in widespread crypto theft. In a Dec. 26 public statement, the […]
Tornado Cash smart contracts cleared of OFAC sanctions in latest ruling
A U.S. appeals court ruled that the Treasury exceeded its authority by sanctioning Tornado Cash’s immutable smart contracts, declaring them outside the scope of federal property laws. On Nov. 26, the Fifth Circuit Court of Appeals overturned a prior ruling by the U.S. Department of the Treasury’s Office of Foreign Assets Control, stating that smart […]
