Idea to Use Digital Ruble as Reserve Currency Circulated in Sanctioned Russia
A call to make the digital ruble a reserve currency has been issued in the State Duma, the lower house of Russia’s parliament. Meanwhile, concerns have been raised in the…
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Russian Banks Told to Track Crypto-Related Transactions Amid Currency Restrictions
Bank of Russia has recommended commercial banks pay heightened attention to their clients’ transactions related to cryptocurrencies. The regulator requires the financial institutions to monitor such activity against the backdrop…
Ukraine’s Largest Bank Suspends Money Transfers to Crypto Exchanges
Privatbank, the largest commercial bank in Ukraine, has temporarily halted transfers in national currency to digital asset exchanges. The financial institution explained the move with restrictions imposed by the country’s…
Bank of Russia Allows Sberbank to Issue Digital Financial Assets
Sberbank, Russia’s largest bank, has been authorized by the country’s monetary policy regulator to issue digital financial assets. The move comes amid tightening Western sanctions over the war in Ukraine,…
Young Russians View Crypto as Safe Investment Amid Economic Uncertainty, Poll Finds
As western sanctions increase the pressure on their country’s economy, many young Russians consider cryptocurrency to be a “reliable and profitable” investment option. According to a recent study, the share…
Crypto Assets Can Help Russia Return to Global Financial Market, Lawmaker Says
Digital financial assets like cryptocurrencies can help Russia to reach the global financial market despite western sanctions, a lawmaker working on crypto regulations has stated. The official believes the country…
Western Union Suspends Operations in Russia, Belarus Over Ukraine War
Remittance giant Western Union has joined other financial services companies supporting sanctions in response to Russia’s invasion of Ukraine. The decision will affect customers in the Russian Federation as well…
Chainalysis Launches Screening Tools Designed to Prevent Sanctions Evasion
Blockchain forensics company Chainalysis is launching two tools that will allow crypto companies to deny sanctioned persons and entities access to their platforms. The move comes amid concerns that Russia…
EU Targets Crypto Assets in Widened Sanctions Against Russia, Belarus
The European Union is extending the scope of sanctions introduced in response to Russia’s invasion of Ukraine, with the latest agreement between member states specifically mentioning crypto assets. Russian oligarchs,…
Visa and Mastercard Suspend Operations in Russia as Part of Sanctions Over Ukraine
The world’s leading payment processors Visa and Mastercard have joined sanctions against Russia over its military invasion of Ukraine. The American companies announced suspension of operations in the Russian Federation…
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