5 / 8 Relevant items tagged with #Sanctions

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Tornado Cash co-founders charged with money laundering, sanctions violations

[Aug 23, 2023 1:00 PM] Roman Semenov was placed on OFAC's sanctioned persons list and Roman Storm was arrested as the United States continued its crackdown on the crypto mixer.

Tornado Cash lawsuit judge sides with US Treasury in motions for summary judgment

[Aug 17, 2023 3:05 PM] Competing motions for summary judgment saw a federal judge rule the U.S. Treasury was within its authority to declare Tornado Cash a sanctioned entity.

Mbridge Project Has Observers Worried About Advances of the Digital Yuan

[Aug 15, 2023 2:30 AM] The Mbridge project, a central bank digital currency (CBDC) international payment system, is starting to worry observers. Such a system, when completed, could ostensibly allow the digital yuan to reach more countries in trade settlements, chipping…

North Korea Hackers Continue to Target Crypto Platforms: UN Report

[Aug 13, 2023 3:30 AM] Hackers working for North Korea have continued to attack companies in the crypto space this year, according to independent sanctions monitors. Their findings, which reveal that Pyongyang proceeds with the development of its nuclear and weapons…

Iran Increases Efforts to Join BRICS, Strengthen Ties With Member Countries

[Jul 31, 2023 11:30 PM] Iran has ramped up its efforts to become a member of the BRICS group ahead of the economic bloc’s summit. The Iranian deputy foreign minister for economic diplomacy revealed that Iran is actively pursuing opportunities to strengthen its…

Eritrean President Isaias Afwerki: ‘We Need a New Financial Architecture Not Controlled by the Dollar or the Euro’

[Jul 31, 2023 5:30 AM] Isaias Afwerki, president of Eritrea, reinforced the need for building a new economic system away from the traditional centers of power. At the second Russia-Africa Summit, Afwerki told Russian President Vladimir Putin that the current world order…

Putin Signs Digital Ruble Law Allowing CBDC Payments in Russia

[Jul 25, 2023 4:00 PM] President Vladimir Putin has signed into law a bill on the introduction of the digital ruble in the Russian Federation. The new legislation, which legalizes and regulates the use of Bank of Russia’s digital currency for payments and other…

Binance Reportedly Lays Off Over 1,000 Employees, CZ Says Exchange Is Hiring

[Jul 15, 2023 2:00 PM] Leading crypto exchange Binance has cut hundreds of jobs after a string of executive exits, according to a media report. The news, which comes as the coin trading platform marks its sixth anniversary amid increased pressure from regulators, was…

Western Sanctions on Russia Demolish Global Trade System, Cause Inflation Surge, Says Russian Banker

[Jul 12, 2023 9:00 PM] Russia’s second-largest bank’s chairman says by imposing sanctions on Russia, the West has “demolished the global trade system and caused an inflation surge.” Pointing to the U.S. banking crisis as an example, he stressed: “This is virtually the

US reportedly plans to restrict China’s access to cloud computing services

[Jul 5, 2023 6:00 AM] Report says sources close to the situation have said U.S. officials plan to restrict Chinese companies’ access to cloud computing services as a security measure.

Crypto lobbyists still fighting to axe 'unlawful' Tornado Cash sanctions

[Jun 4, 2023 11:48 PM] The crypto industry advocacy group has placed its support behind Coin Center and its lawsuit against the U.S. Treasury over its Tornado Cash sanctions.

Russia’s Rosbank Launches Crypto Payments Solution for Cross-Border Settlements

[Jun 4, 2023 10:00 PM] Rosbank has become the first large Russian bank to offer clients an option to use cryptocurrencies in international settlements. The solution, provided in tandem with a Russian fintech, is mostly intended to meet the needs of businesses working…

Iran-Russia Trade Settlements Exceed 60% in National Currencies, Says Joint Chamber Chief

[Jun 3, 2023 5:30 PM] Iran and Russia have increased cooperation and settled more than 60% of their bilateral trade in the Russian ruble and the Iranian rial, according to the chairman of Iran-Russia Joint Chamber of Commerce. The two countries have ramped up their…

Georgian central bank to launch AML probe into crypto firms

[Jun 1, 2023 7:51 AM] The National Bank of Georgia will launch mandatory supervision of virtual asset service providers starting from Sept. 1, 2023.

Should Russia Bolster or Ban Bitcoin?

[May 30, 2023 12:45 PM] The country reportedly backed out of plans to build a "national crypto exchange," its latest sign of indecision.

Russia scraps plans for a national cryptocurrency exchange

[May 29, 2023 11:01 AM] Russia will continue to create new crypto platforms in response to sanctions, State Duma official Anatoly Aksakov said.

Lawyers Challenging U.S. Tornado Cash Sanctions Say Free Speech Is at Stake

[May 25, 2023 2:18 AM] Open source software isn’t property, and current sanctions laws are ill-equipped to handle this, lawyers argue.

Putin Wants Limit on Currency Purchases for Russians Dealing With Foreigners

[May 23, 2023 4:30 PM] Russian citizens and firms doing business abroad may soon be restricted in the amount of foreign currency they are allowed to acquire, on order from Vladimir Putin. Russia’s head of state now wants his government to cap such purchases on the…

U.S. Treasury Sanctions North Korean-Owned Binance Wallets; Says Entities Used Funds to Support WMD Programs

[May 23, 2023 9:25 AM] The Binance-hosted wallets received more than $2 million worth of various cryptocurrencies that were then sent on to North Korean entities, OFAC alleged

EU Spokesperson: Russian Banks Will Not Be Reconnected to SWIFT Anytime Soon

[May 23, 2023 5:30 AM] The European Union (EU) has no intention of allowing Russian banks to be reconnected to the Society for Worldwide Interbank Financial Telecommunications (SWIFT) banking system anytime soon. Peter Stano, spokesperson for external affairs of the EU…

De-dollarization Has Already Started, Says Russia’s Foreign Minister Lavrov

[May 21, 2023 1:30 PM] The process of de-dollarization has practically started, according to Russian Minister of Foreign Affairs Sergey Lavrov. Moscow’s top diplomat is convinced that Russia’s position on the matter is shared by many other countries while the West is…

Chinese Autonomous Region of Guanxi to Adopt Digital Yuan in Push for ASEAN Trade Integration

[May 20, 2023 1:00 AM] The Chinese autonomous region of Guanxi, located in the south of China, will implement a wide adoption plan for the digital yuan, that includes a push for using it as a trade currency with countries part of the ASEAN bloc. This pilot plan looks to…

US Expands ‘Unprecedented Global Sanctions’ on Russia With Over 300 New Targets

[May 19, 2023 7:00 PM] The U.S. has imposed new sanctions on Russia “in coordination with the G7 and other international partners.” Among the targets are “the channels Russia uses to acquire critical technology, its future energy extraction…

U.S. Sanctions Watchdog Alleges Russia-Linked Crypto Wallet Processed $5M

[May 19, 2023 1:39 PM] An Irish national helped wealthy Russians evade sanctions and hide money in UAE, OFAC alleged Friday.

Venezuela’s President Declares Inevitable Shift Away From US Dollar in De-Dollarization Push

[May 18, 2023 6:00 PM] Venezuelan President Nicolas Maduro has announced that Venezuela will shift away from using U.S. dollars in trade, emphasizing that the de-dollarization process is “inevitable.” He described: “This is the path of Venezuela and the path…

IRS, Chainalysis Helping Ukraine Track Russians Using Crypto to Evade Sanctions

[May 14, 2023 4:00 AM] The U.S. Internal Revenue Service (IRS) said it’s working closely with Ukraine to help it trace crypto transactions of Russian sanctions evaders. The agency is providing the Ukrainians access to a Chainalysis tool as well as specialized training to…

IRS, Chainalysis and Ukraine Targeting Russian Crypto Sanctions Evaders Jointly

[May 11, 2023 11:20 AM] The U.S. Internal Revenue Service and crypto investigations company Chainalysis are working with Ukraine to target Russian oligarchs using crypto to evade sanctions.

Privacy Project Railgun DAO Adopts Chainway’s ‘Proof of Innocence’ Tool

[May 8, 2023 7:58 AM] Railgun DAO’s new functionality – initially developed by the developer Chainway for use on Tornado Cash – could allow users to mathematically demonstrate that coins involved in transactions did not come from blacklisted addresses. Digital Currency�

China is developing AI without US chips: Here's how

[May 8, 2023 3:22 AM] U.S. sanctions have limited China’s access to the latest chip technology to develop AI, but local companies are not letting this stop them.

Digital Assets for 1 Billion Rubles Issued in Russia in a Month

[May 7, 2023 3:30 AM] Platforms authorized by the Russian government issued digital assets worth around a billion rubles in April, the local press reported. The spike in the volume has been attributed to Russian companies experimenting with new financial instruments…