Search Results for: circumvent the restrictions

Binance Bans Russians From P2P Transactions With Dollars and Euros

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Cryptocurrency exchange Binance has introduced new restrictions for Russian users, in accordance with the latest European sanctions. The platform is restricting access to peer-to-peer (P2P) transactions in U.S. dollars and euros for traders based in the Russian Federation. Binance Prohibits US…

Crypto Exchanges Allow Russians to Circumvent Sanctions, Report Alleges

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Major crypto exchanges have failed to prevent sanctioned Russian banks and traders from transacting, according to a blockchain forensics report. At least two established coin trading platforms continue to allow Russians to use their bank cards in peer-to-peer deals, the analysis…

North Korea Stole Record Amount of Crypto Assets in 2022, UN Report Unveils

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The regime in North Korea has managed to steal more cryptocurrency last year than in previous years, according to a draft U.N. report. Despite the difference between quoted estimates, the authors conclude that 2022 was a record-breaking year for crypto theft,…

Nigeria Announces New Cash Withdrawal Restrictions — ATMs Limited to Less Than $44 per Day

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In a new directive to financial institutions, the Central Bank of Nigeria (CBN) said individuals can now only withdraw an equivalent of just under $222 per week while corporates can only withdraw cash not exceeding $1,111 during the same period. The…

Russia and Turkey to Collaborate on Combating Crime-Related Crypto Transactions

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Law enforcement and judicial authorities from Russia and Turkey are joining forces in the fight against cybercrime, including the use of cryptocurrencies for illegal purposes. The collaboration has been agreed upon during a visit by Russia’s Prosecutor General to Ankara. Russia,…

US Charges Russians, Venezuelans for Sanctions Evasion Using Cryptocurrency

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A group of Russian and Venezuelan nationals have been charged by U.S. authorities for their roles in a scheme to circumvent Western sanctions and launder money on a global scale. They have been accused of obtaining military technologies from American companies,…

EU Bans Crypto Services for Russians in New Sanctions Over Ukraine Escalation

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An array of crypto-related services have been targeted in the latest round of sanctions on Russia approved by the EU. The measures are part of an expected tightening of the economic and financial restrictions in response to Moscow’s decision to annex…

Russian Crypto Mining Giant Bitriver Considers Challenging US Sanctions

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Russia’s Bitriver, one of the largest operators of crypto mining data centers, may take legal action against the U.S. over the decision to place it under sanctions. The company insists it does not help the Russian government to circumvent international restrictions….

Digital Ruble ‘Much Needed,’ Russia’s Central Bank Says, Won’t Delay Testing

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The Central Bank of Russia has emphasized the importance of moving forward with its digital ruble project. According to a statement by a top representative, the monetary authority has no intention to delay the trials despite not all invited banks being…

Russian Chamber of Commerce Suggests Using Cryptocurrencies in Settlements With Africa

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Employing crypto in cross-border payments is one of the proposals put forward by the Russian Chamber Of Commerce lobbying for more cooperation with African countries. Amid unprecedented sanctions limiting Russia’s ability to trade internationally, the head of the board has urged…