5 / 8 Relevant items tagged with #Sanctions

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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…

Binance Reportedly Investigated in US for Russia Sanctions Violations

[May 7, 2023 1:30 AM] Cryptocurrency exchange Binance is facing a U.S. probe over suspected violations of sanctions against Russia, according to a media report. The inquiry is looking into whether the trading platform was used by Russians to circumvent financial…

US Justice Department investigating Binance for violating Russian sanctions: Report

[May 6, 2023 7:34 AM] The DOJ’s national security and crime divisions are both looking at the cryptocurrency exchange’s provision of services to Russians, Bloomberg reports.

U.S. Justice Department Investigating Binance For Russia-Related Sanctions Violations: Bloomberg

[May 5, 2023 8:40 PM] The United States Justice Department's national security division is conducting an inquiry into whether Binance allowed the violation of U.S. sanctions related to Russia's invasion of Ukraine on its platform, according to a Bloomberg report.

Russia Projected to Start Purchasing Chinese Yuan for Its Foreign Reserves as Soon as May

[May 4, 2023 5:30 AM] Russia will start to purchase Chinese yuan for its international reserves as soon as this month, according to reports from Russian economists. While analysts state that the purchases will be small and symbolic in the beginning, these will…

Russian Banks Set for Record Profits This Year, Central Bank, Rating Agency Say

[May 3, 2023 4:00 AM] Bank of Russia raised its forecast for the profits of Russian banks in 2023, expecting results that may break the 2021 record. This year’s high numbers are coming after 2022 became the worst annual period in seven years for the sanctioned Russian…

Poloniex will pay $7.6M settlement to US authorities for 'apparent violations' of sanctions

[May 1, 2023 2:02 PM] OFAC said Poloniex allowed users in Crimea, Cuba, Iran, Sudan and Syria to conduct digital asset trades, deposits and withdrawals between January 2014 and November 2019.

Crypto Exchange Poloniex Agrees to $7.6M Fee to Settle Sanctions Violation Charges

[May 1, 2023 12:22 PM] Crypto exchange Poloniex will remit $7.59 million to settle sanctions violations allegations with the U.S. Treasury Department's Office of Foreign Asset Control (OFAC), the sanctions watchdog announced Monday.

‘Evil Crypto’ Can Be Used in Foreign Trade, Russia’s Deputy Finance Minister Says

[Apr 30, 2023 10:00 PM] Cryptocurrency may be bad for investors but it can be useful in international settlements, according to a top government official in Moscow. Russian authorities intend to set up a special committee that would issue permits to operators employing…