Search Results for: restricted

Israel Prohibits Cash Deals for Amounts Starting as Low as $1,700

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New legislation introducing tighter restrictions on payments with large sums of cash will enter into force in Israel on Monday. The goal, as stated by the country’s tax authority, is to improve the fight against organized crime, money laundering, and tax…

Russian Media Censor Roskomnadzor Blocks Major Crypto News Website

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Bits.media, a leading news outlet in Russia’s crypto space, has been blocked by Russia’s telecom and mass media watchdog, Roskomnadzor. The site is now inaccessible through most Russian internet providers, the online edition announced, stating it intends to contest the measure….

Russian Finance Ministry Amends Bill ‘On Digital Currency,’ Adds Crypto Mining Provisions

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The Ministry of Finance of the Russian Federation has revised a draft law designed to regulate the country’s crypto space, introducing provisions for cryptocurrency mining. The bill has been resubmitted to the government and may be adopted during the parliament’s spring…

Kazakhstan Cracks Down on Illegal Mining, Busts 13 Crypto Farms

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Authorities in Kazakhstan have gone after illegal crypto mining operations amid ongoing issues with electricity supply. Working together with law enforcement, the country’s energy ministry announced the closure of over a dozen facilities minting digital currencies. Government Shuts Down Unauthorized Crypto…

Electricity Consumption Spikes in Irkutsk as More Russians Start Mining Cryptocurrency

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Electricity suppliers in the Russian region of Irkutsk have registered a surge in power consumption in residential areas which they are blaming on cryptocurrency mining. Planes with mining equipment from restricted China continue to land in the region, and cases of…

Crypto Exchange Binance Restricts 281 Nigerian Accounts — Some Requested by International Law Enforcement

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Cryptocurrency exchange Binance has restricted 281 Nigerian user accounts. Citing user security and fraud prevention, CEO Changpeng Zhao explained that “approximately 38% of these cases [are] restricted at the request of international law enforcement.” 281 Nigerian Accounts Restricted by Binance, CEO…

Kazakhstan Senate Adopts Legislation Subjecting Crypto Platforms to Financial Monitoring

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The Senate in Kazakhstan has approved amendments aimed at preventing the legalization of illicit funds which will affect companies dealing with digital assets, among others. The new legislation subjects crypto service providers to the country’s financial monitoring regime. Senators Back Law…

Swiss Regulator Approves First Crypto Fund: Asset Manager Says ‘It’s an Exceptional Achievement’

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Switzerland’s Financial Market Supervisory Authority (FINMA) has approved the first Swiss crypto fund. It is managed by asset manager Crypto Finance and custodied by Seba Bank. “For the first time, FINMA has approved a Swiss fund that invests primarily in cryptoassets,”…