Russia looks to crypto to avoid sanctions and moves to legalize cryptocurrency mining later this year. Russian President Vladimir Putin has signed legislation aimed at reducing Russia’s reliance on the United States dollar in international trade. The new law, effective from November 2024, permits approved mining firms to register via a state database to mine…
Russia looks to crypto to avoid sanctions and moves to legalize cryptocurrency mining later this year. In a strategic move to mitigate the impact of international sanctions on its economy, Russia is set to embrace cryptocurrency as a new method to facilitate transactions despite the ongoing conflict in Ukraine. According to a Bloomberg interview with…
Russia has seemingly turned to cryptocurrency since the West decided to ‘punish’ the nation for its invasion of Ukraine. A list of sanctions had been imposed upon the country by the United States and the EU which worked to essentially cut Russia off from world traders. However, with the rise in popularity of crypto, it…
North Korea is using and exploiting cryptocurrencies to bypass international regulators and help financially support its regime, a new report has revealed. Researchers from the cyber-threat intelligence firm Recorded Future attributed two separate cryptocurrency scams in 2018 to a network of "North Korea-enablers" in Singapore, both of which were designed to con investors and funnel…
Concerns are growing surrounding Iran’s use of cryptocurrencies like Bitcoin and Monero – and soon, their own native cryptocurrency – to evade economic sanctions put in place by the U.S., prompting FinCEN to issue an advisory on the topic. FinCEN on Iran’s Exploitation of Financial Markets The Financial Crimes Enforcement Network (FinCEN) has issued an…
North Korea is reportedly ramping up the use of cryptocurrencies to evade US economic sanctions. It’s also alleged that the country is developing its own native crypto asset to further assist moving money across borders, according to a duo of financial intelligence analysts from Washington D.C. North Korea Allegedly Uses a Mixer to Launder Money Using…