Iran Ties Prompt US To Sanction UK Crypto Platforms
US authorities moved on Friday to cut off what they say was a major crypto pipeline used by Iranian actors. Two London-registered platforms were added to the sanctions list and are now subject to blocking measures that bar US persons from dealing with them. Related Reading: Bitcoin Strategy Deepens As Metaplanet Approves $137M Raise Abroad […]
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An official with the Central Bank of Iran (CBI) has claimed that cryptocurrencies have played no significant role in Iran’s sanction hit economy. According to Mohammadreza Mani Yekta, the deputy head of CBI’s office for payment systems, “studies” have shown that digital currencies have “made no contribution to bypassing the sanctions.” The unenthusiastic assessment of cryptocurrencies by an Iranian official appears to contradict the 2018 report by the Majlis Research Center, which urges the use of digital currencies to circumvent U.S. sanctions.....
The US sanction on Tornado Cash has now made the rounds and is well-known news by now. The sanction against the famous coin tumbler has been coming for a while, which was not the least expected when it happened due to its affiliations with bad actors that have stolen billions of dollars from investors. However, […]
Highlighting the possibility in traditional finance structures to evade compliance with economic sanctions, well-known crypto exchange Coinbase purposed to use cryptocurrencies to prevent laundering and sanction evasion that becomes possible using fiat currency. The Ukraine-Russia conflict has caused global authorities to impose economic sanctions which also encircles cryptocurrency exchanges. While some platforms refused to comply […]
Most companies in the United States and other Western nations are no longer allowed to conduct business or exchange money with Russian banks. As the West and America tighten their economic sanctions on Russia, concerns have emerged about how this will affect the cryptocurrency market.The country has been largely cut off from the SWIFT international payment system, and businesses in the United States and other Western nations are banned from doing business or transacting with Russian banks and the national wealth fund.Executives at crypto exchanges have weighed in on the sanctions and their....
A serious power crisis is what Iran is currently going through, and an unprecedented heatwave only serves to further deteriorate the situation. In a bizarre bid to crack down on this issue, the government of Iran has just announced a $20 bounty for citizens to act as informants on illegal cryptocurrency mining operations within the […]