News with the tag "Russian Sanctions"

Russia is shifting its focus towards Bitcoin and other cryptocurrencies recently, Finance Minister Anton Siluanov confirmed. According to his recent statement, the Russian firms are already using BTC and other digital currencies for foreign trade after recent legislative changes. Notably, this comes...

Russian President Vladimir Putin has signed the final law on crypto taxation while recognizing digital assets as property. This taxation law will also be applicable for currencies used for foreign trade settlements “within the framework of the experimental legal regime (ELR).” Russian President Puti...

As global tensions rise, Russia is increasingly turning to Bitcoin and other cryptocurrencies as a way to sidestep Western sanctions. This development is a major discussion topic at the ongoing BRICS summit as Russian leaders and companies look for ways to harness BTC and increase the country’s pres...

The Lithuanian Financial Crime Investigation Service (FNTT) has fined the crypto firm Payeer nearly 9.3 million euros ($10 million) for international sanctions violations and anti-money laundering (AML) breaches. Specifically, Payeer was fined 8.23 million euros for facilitating transactions in Russ...

The stablecoin sector is gaining significant traction as it facilitates Russia in settling deals with China. Notably, this shifting focus towards crypto is driven by the challenges posed by international sanctions. Meanwhile, a recent Bloomberg report highlighted that Russian firms are increasingly ...

The US Treasury has warned about Russia’s USDT use of illicit activities in its latest report. According to the report, the agency claims that to get around sanctions and keep funding its war machine, Russia is progressively using other payment methods, such as the stablecoin tether. Russia USDT Use...

Russian intermediaries have resorted to leveraging cryptocurrency as a means to procure arms parts, effectively circumventing the stringent sanctions imposed by Western nations. At the forefront of this illicit operation stands Andrey Zverev, a self-proclaimed Russian smuggler whose involvement has ...

The cumulative transfer of up to $20 billion in cryptocurrencies to a Garantex Exchange has suddenly piqued the interest of authorities in the United States and in the UK owing to its potential violations of Russian sanctions Garantex Caught In Between Russian Sanctions Evasion Markedly, these autho...

The United States Treasury Department has sanctioned 13 business entities and two individuals for Russian operations which involve aiding sanction evasion through the use of digital assets. In a recent press release, the Department of Treasury’s Office of Foreign Asset Control flagged the activities...