The hearing, scheduled for next week, will feature testimony from Chainalysis' CSO Jonathan Levin, who is the sole confirmed witness.

The post In light of Russia sanctions, Senate to hold hearing on crypto in illicit finance appeared first on The Block.

EU included cryptos on its sanctions list against Russia and said they will fall under the category of “transferable securities” so let’s read further in today’s latest cryptocurrency news. According to the EU, certain corporate entities and individuals from the countries are banned from trading digital assets in the region. The EU included cryptos on […]

The Prime Minister of Estonia has said cryptocurrencies must be restricted in order to address loopholes that may be used by sanctioned Russian entities to evade the punitive measures. In addition, the premier wants all Russian as well as Belarusian banks to be removed from the global payment network. Sanction Evasion Concerns The Estonian prime […]

A senior administration official has stated that bitcoin and cryptocurrencies are not a viable workaround for Russia to bypass sanctions. “On Russia, in particular, the use of cryptocurrency we do...

Four U.S. senators are introducing a bill to place sanctions on Russia’s gold. “This legislation would deter the purchase of Russian gold and close this loophole that allows the Russian Federation to soften the financial impact of sanctions,” the senators explained. “By sanctioning these reserves, we can further isolate Russia from the world’s economy and […]

The Financial Crime Enforcement Network (FinCEN) mentioned cryptocurrency in its latest alert on Russian sanctions. FinCEN advised all financial institutions to be “vigilant against potential efforts to evade the expansive sanctions and other U.S.-imposed restrictions implemented in connection with the Russian Federation’s further invasion of Ukraine.” The agency reminds financial institutions that they have an […]

The post FinCEN Mentions Crypto in New Warning On Russia Sanctions appeared first on Coin Bureau.

President Joe Biden is expected to sign an executive order with a comprehensive outline on the regulation of crypto assets, according to reports from Bloomberg. The order will instruct the Justice Department, Treasury and other government agencies to examine the legal and economic implications of creating a US-backed central bank digital currency (CBDC), according to […]

The post US Executive Order On Crypto Expected This Week appeared first on Coin Bureau.

Neutral Switzerland may target crypto assets within its territory that belong to sanctioned Russian entities, a report has said. The report quotes an official who explains that the move is designed to protect the integrity of the country’s cryptocurrency industry. The official, however, warns that crypto-assets that are not stored with cryptocurrency exchanges are impossible […]

Russia’s economy has been tumbling under the pressure of sanctions imposed by the US and its Western allies. Various regulatory bodies have now expressed concerns [...]

The Russian invasion of Ukraine has brought many problems for the whole world. The US, UK, EU, and other countries have applied measures to curb the Russian economy. After damaging the traditional markets, the Union of different countries is now aiming with sanctions at the Cryptocurrency and NFT markets in Russia. In this bid, Japan’s

The post Russia-Ukraine Conflict: Japan Preparing To Fill Potential Crypto Loopholes In Russia Sanctions appeared first on CoinGape.

Japanese regulators are looking to close loopholes to ensure that Putin allies cannot dodge the hefty economic sanctions.

With the price of Bitcoin climbing again, it’s not surprising that other cryptocurrencies are jumping too. As an investment vehicle and possible way around sanctions in Russia or elsewhere-this could be very interesting. This week, the cryptocurrency has been on an unstoppable rise, with prices climbing 8% in NY trading hours and over 20% in just two sessions. At one point, it overtook Bitcoin’s market value at $44,964 per coin, bringing its total capitalization above $840 billion. Related Reading | Bitcoin Breaks Above 50-Day SMA, Will BTC Ride It Out To $50,000? The cryptocurrency market continues to see significant growth, with Ether crossing $3,000 and several other coins improving. For example, the value of terra’s LUNA is up 76% over the last week, according to CoinMarketCap– nearing an all-time high set in early December. Finally, there was Avalanche which advanced during this time period too. In a world where the news is constantly changing, and governments seem to be everywhere, some people have turned away in favor of cryptocurrencies. However, the idea that these funds are detached from any government control makes them attractive because they can’t be influenced by anything besides supply-and-demand factors–not even warring conflicts overseas. FRNT Financial Inc.chief executive, Stéphane Ouellette said; Bitcoin has gold-like properties in that if you hold it, you directly control the assets as opposed to governments and banks being in between. So when banking is destabilized in a region, which is happening in Europe right now. It would make sense to see some flows into BTC as people diversify away from the banking system. Bitcoin Plunge As Russia-Ukraine War Intensified The price of cryptos is currently being driven higher by investors looking to get in on the action. However, he said that Speculators could take advantage and drive prices even higher. This will make their investments pay off exponentially faster than if they waited for more traditional markets like stocks or bonds where there’s always someone else who has already bought low before you do so yourself. Global markets took a plunge on Tuesday as the war in Ukraine intensified. Russia continued its offensive despite mounting penalties. Russian troops are shelling military facilities civilian areas alike. President Volodymyr Zelenskiy accused them of committing acts of terror.  Related Reading | Bitcoin Dominates Altcoins During War-Torn Month Of February European stocks and US equities continued their decline along with the fear gauge in Wall Street, VIX. The belief that Bitcoin can be a valuable asset during geopolitical turmoil is not new. Some analysts have long posited this. However, its outperformance amidst the volatility has some bulls pointing to an end for the narrative. Which explains that crypto will just turn out like all other risky assets.  But there’s still more work left before we’ll know how things ultimately play themselves out. Analysts Review On Crypto Rise Adam Farthing, chief risk officer for Japan at B2C2, said; Bitcoin could “de-link from risk” and start trading more like a hedge to geopolitical instability and inflation. Walid Koudmani, an analyst at XTB Market, explains; Bitcoin saw a significant upward move today as it appears to have slightly regained its safe-haven status while the Russia-Ukraine conflict continues to intensify. There are other factors at play. The rally is about “the utility of these assets to serve as a potential workaround for Russia sanctions and also point that virtual currencies can be an alternative in times when people need them most,” said Nicholas Colas, co-founder DataTrek Research. Featured image from Pixabay, Chart from TradingView.com