Sanctions May Not Affect Russia’s Access to Crypto, Reports Claim
As sanctions rain on Russia, following the Kremlin’s decision to invade Ukraine, media reports have suggested that they are unlikely to limit the country’s access to crypto assets. While the Russian elite may use them to circumvent restrictions, ordinary Russians are also likely to keep trading digital coins on foreign platforms. Cryptocurrencies Deemed Potential Tool for Russian Billionaires Bypassing Sanctions U.S. and EU sanctions, imposed in response to Moscow’s military assault on Ukraine, are threatening the ability of Russia, and its elites, to do businesses in....
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Economic sanctions against Iran have been lifted, but some sanctions still apply. A pair of attorneys at the global Pillsbury law firm claim that screening rules still exist when trading with Iran, which means complications for anyone in the U.S. and European Union (EU) doing bitcoin transactions with parties in Iran, according to City A.M., a London, U.K. newspaper. Attorneys Steven Farmer and Matthew Oresman claim some EU and U.S. financial sanctions remain in place against certain Iranian individuals and businesses. (The lawyers are both sanctions experts and Farmer is also a bitcoin....
New sanctions discussed by EU member states amid the current escalation of the conflict in Ukraine are going to restrict European crypto services for Russians. Reports about the tightening have come after earlier this year the Union banned only “high-value” crypto-asset services to Russian residents and companies.
EU Expected to Target Crypto Services for Russians in New Round of Sanctions Over Ukraine
The European Union is preparing to punish Russia with more sanctions over its decision to announce partial mobilization as part of its escalating military....
Despite the recent court ruling that overturned a previous decision to block access to at least five Bitcoin websites, Russia’s supervision agency has blacklisted one of the country’s most popular Bitcoin-related websites. On May 27, Russia’s Federal Supervision Agency for Information Technologies and Communications (Roskomnadzor) effectively blocked access to one of Russia’s most popular Bitcoin news websites, BitNovosti.com. When attempting to access the domain within the country, users are instead met with the following message from the authorities: “This site has been blocked by order....
Russia’s largest bank, Sberbank, has denied its own supposedly false statement on being included in the U.S. sanctions list on Thursday. In the event of harsh Western sanctions as Russian forces invade Ukraine, retail customers could risk losing their savings.Russians’ savings could be confiscated in response to sanctions against the country, according to Nikolai Arefiev, a member of the country’s Communist Party and vice-chairman of the Duma’s committee on economic policy.The Russian government can potentially seize about 60 trillion rubles ($750 billion) worth of people’s deposits should....
Russian media and communications regulator, Roskomnadzor, has restricted access to the website of a major cryptocurrency exchange, Okx. The trading platform was one of those that did not restrict access for Russians amid sanctions that affected the industry’s business in Russia.
Okx Blacklisted on Request From Russian Prosecutor’s Office for Disseminating Banned Information
Russia’s Federal Service for Supervision of Communications, Information Technology and Mass Media, also known as Roskomnadzor, has added this week the domain name of crypto exchange Okx....