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Tag: circumvent sanctions

Mastercard and Binance end crypto card partnership

Global payment giant Mastercard and cryptocurrency exchange Binance will end their crypto debit card program in Argentina, Brazil, Columbia and Bahrain from Sep. 22.See...

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Binance Lifts Ban On Russian Users, But Not On P2P

Binance lifted some restrictions on Russian users. The exchange claims it is still abiding by EU sanctions.  Russian users still can’t access Binance’s P2P...

Briton Wanted by US for Advising North Korea on Crypto Arrested in Russia

A British national wanted with a red notice from Interpol for consulting North Korea on cryptocurrencies has been detained in Moscow. U.S. authorities...

U.S. Department Of Justice Shuts Down Crypto Exchange Bitzlato, CEO Arrested

The U.S. Department of Justice (DOJ) has announced the closure of the Bitzlato cryptocurrency exchange, along with the FBI’s arrest of the exchange’s owner,...

Harvard Research Paper Tells Governments And Central Banks To Hold Bitcoin

Advertisement &nbsp &nbsp A Harvard paper has urged central banks to hold Bitcoin as a way to circumnavigate sanctions. Only El Salvador has elevated...

ECB President Warns Crypto Companies Against Helping Russians Avoid Sanctions

Christine Lagarde has warned cryptocurrency companies against helping Russians avoid sanctions.

Elliptic Identifies ‘Several Hundred Thousand Crypto Addresses’ Tied to Russia-Based Sanctioned Actors

As the Russia-Ukraine conflict continues, blockchain surveillance companies have discussed and implemented ways to combat sanctioned countries from using digital assets. Last week, Chainalysis revealed screening tools for crypto firms that aim to comply with international sanctions. On Monday, the CEO of Elliptic published a blog post describing the company’s work to combat sanction evasion. […]

Chainalysis Launches Screening Tools Designed to Prevent Sanctions Evasion

Chainalysis Launches Screening Tools Designed to Prevent Sanctions EvasionBlockchain forensics company Chainalysis is launching two tools that will allow crypto companies to deny sanctioned persons and entities access to their platforms. The move comes amid concerns that Russia may use cryptocurrencies to evade sanctions imposed due to its invasion of Ukraine. Chainalysis Offers Crypto Industry New Sanctions-Screening Tools As the military conflict in […]

US Senator Elizabeth Warren Drafts New Crypto Legislation Targeting Russian Sanctions Evasion: Report

As tensions between the United States and Russia spread across numerous sectors, Senator Elizabeth Warren is looking to crack down on potential cryptocurrency loopholes. According to an NBC News report, the Massachusetts senator is drafting legislation to bolster sanctions the US imposed after Russia first invaded Ukraine two weeks ago. Warren recently co-signed a letter […]

The post US Senator Elizabeth Warren Drafts New Crypto Legislation Targeting Russian Sanctions Evasion: Report appeared first on The Daily Hodl.

US AML watchdog issues alert on potential crypto sanctions evasion from Russia

“Although we have not seen widespread evasion of our sanctions using methods such as cryptocurrency, prompt reporting of suspicious activity contributes to our national security and our efforts to support Ukraine and its people,” said Acting Director of FinCEN Him Das.

The post US AML watchdog issues alert on potential crypto sanctions evasion from Russia appeared first on The Block.

Biden to Sign Crypto Order as Industry Faces Sanctions Pressure

Anti-Crypto Comptroller Nominee

According to many persons familiar with the administration’s preparations, President Joe Biden is expected to issue an executive order this week outlining the US government’s cryptocurrency strategy. *BIDEN TO SIGN CRYPTO ORDER AS INDUSTRY FACES SANCTIONS PRESSURE — *Walter Bloomberg (@DeItaone) March 7, 2022 The order will urge federal agencies to look into potential regulatory reforms, as well as the national security and economic implications of digital assets. The White House’s attitude to cryptocurrency has received renewed attention in recent weeks as a result of sanctions imposed by Washington and its allies on Russia, raising concerns that corporations and individuals in the country could utilize cryptocurrency to circumvent the limits. The order, which has been in the works since last year, would require federal departments across the board to report on their digital asset policies later this year. Industry leaders complain about a lack of clarity on US laws, putting pressure on Biden’s staff to play a greater coordinating role. We’ve known this for months. https://t.co/JYZwwGrK3a — The Wolf Of All Streets (@scottmelker) March 7, 2022 Meanwhile, lawmakers such as Senator Elizabeth Warren and Senate Banking Committee Chairman Sherrod Brown are closely scrutinizing the crypto industry, citing worries that sanctioned persons and firms in Russia may be exploiting digital assets to circumvent sanctions. Nonetheless, given the small scale of the market, several researchers and officials have questioned how successful workaround crypto could be.

The post Biden to Sign Crypto Order as Industry Faces Sanctions Pressure appeared first on Cryptoknowmics-Crypto News and Media Platform.

CEOs of leading crypto exchanges assure why Russia can’t use crypto to evade sanctions.

Since Russia began its invasion of Ukraine, some politicians have raised concerns that cryptocurrency could be used to circumvent sanctions placed by Western nations. The CEOs of two leading cryptocurrency exchanges have shared their thoughts on whether crypto can be an effective tool to circumvent sanctions. Earlier, the European Central Bank president had asked regulators […]

Binance, Coinbase Explain Why Cryptocurrency Won’t Help Russia Evade Sanctions

Binance, Coinbase Explains Why Cryptocurrency Won't Help Russia Evade SanctionsThe chief executives of two major cryptocurrency exchanges, Binance and Coinbase, do not believe that cryptocurrency is an effective tool to help Russia evade Western sanctions. CEOs of Binance and Coinbase Say Crypto Not Useful at Evading Sanctions Since Russia began its invasion of Ukraine, governments worldwide have raised concerns that cryptocurrency could be used […]

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