China Bans VPNs, Cross-Border Gateways That Bypass Existing Blocks
Amid uncertainty regarding cryptocurrency trading, China has announced a formal ban on the unapproved use of virtual private networks hereinafter VPNs within its borders. Local news outlet Leiphone cites the country’s Ministry of Industry announcing that “without the approval of the telecommunications authorities, gateways including virtual private network VPN and other channels shall not be self-established or leased to carry out cross-border business activities.” VPNs have been a method of bypassing China’s existing blocks on multiple social networking and foreign news sites. The....
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Cryptocurrency users are finding a growing need for quality virtual private networks (VPNs) to buy and sell their digital assets, as hackers’ eyes follow blockchains and present some danger. This article highlights how to buy seamless, cheap, and highly private VPNs using virtual assets including Bitcoin (BTC), Ethereum (ETH), and Monero (XMR). The world is […]
In a statement on Thursday, regulators in the European Union banned all crypto-asset wallets, accounts and custody services from Russia. In a statement released on Oct. 6, the European Union introduced another set of sanctions against Russia due to the prolonged and recently escalated conflict in Ukraine.The new sanctions include a complete ban on cross-border crypto payments between Russians and the EU. This statement includes the prohibition of, “all crypto-asset wallets, accounts, or custody services, irrespective of the amount of the wallet."New sanctions were installed as a response....
Bitcoin looks suitable for Russia’s crypto cross-border payments at first glance, but there are many reasons why such a choice is highly questionable. Despite Russia pushing the idea of using cryptocurrencies for cross-border payments, it still remains unclear what digital asset exactly the government plans to adopt for such transactions.Russian authorities are quite unlikely to approve the use of cryptocurrencies like Bitcoin (BTC) for cross-border transactions, according to local lawyers and fintech executives.Bank of Russia needs to control cross-border transactionsIt’s “highly....
The digital yuan continues to develop apace. China has completed its first cross-border pilots of the digital yuan with Hong Kong.Wang Xin, director of the People’s Bank of China research bureau, said that the Hong Kong Monetary Authority and the PBoC have conducted technical tests on the cross-border use of China’s central bank digital currency. The official announced the news at a Thursday press conference hosted by the State Council Information Office of China, local news agency Sina Finance reports.The news comes shortly after Mu Changchun, head of the PBoC's digital currency research....
The monetary authorities of four jurisdictions in Asia have carried out tests with international settlements using state-issued digital currencies. Cross-border payments and foreign exchange transactions totaling over $22 million were made as part of the pilot project with the participation of the Bank for International Settlements. Asian Central Banks Pilot Real-Value International Settlements With Digital Currencies The monetary policy regulators of China, Hong Kong, Thailand, and the United Arab Emirates have conducted a trial of cross-border payments with digital currencies issued by....