Crypto donations to Ukrainian causes have slowed down over the weekend, while reports revealed that roughly 40% of Ukraine’s military suppliers accept crypto payments. The Ukrainian government and non-profit organizations providing support to the military raised less than USD 2m over the weekend, according to data by the crypto security firm Slowmist. … Read More:…
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In a report published on Saturday, the International Monetary Fund (IMF) has warned that an ongoing war in Europe and associated sanctions will have a “severe impact on the global economy.” The IMF’s report says there is “extraordinary uncertainty” in the air, and the international financial institution believes “economic consequences are already very serious.” IMF’s…
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Crypto’s transparent nature makes it a terrible choice for those who want to evade sanctions, said Paul Grewal, Chief Legal Officer (CLO) of major crypto exchange Coinbase. Following Russia’s invasion of Ukraine, the US and its allies imposed an extensive round of sanctions on a number of Russian financial institutions and entities, basically trying to…
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The decentralized exchange has moved onto Arbitrum to help users get around Ethereum network congestion and expensive gas fees. Decentralized exchange (DEX) aggregator KyberSwap has launched on the layer-2 Ethereum scaling solution Arbitrum network. The move puts Kyberswap on its seventh network or scaling solution along with Ether (ETH), Polygon (MATIC), Fantom (FTM), BSC (BNB),…
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The American payments heavyweights Visa and Mastercard, as well as the card issuer American Express, have suspended their operations in Russia – joining an increasingly lengthy list of firms severing their trade links with the country. But Russian banks have indicated that they may look to domestic and Chinese alternatives to Western platforms…. Read…
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Grewal points out that laundering of fiat currency through traditional financial institutions remains the most sought-after method for evading sanctions. The United States-based crypto exchange Coinbase has proposed the use of cryptocurrencies to help ensure compliance with economic sanctions. This recommendation comes by highlighting the ease of laundering and sanction evasion of fiat currencies made…
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A grim cocktail of macro triggers converges on Bitcoin, with risk assets looking at a “rough” few days coming up, analysts warn. Bitcoin (BTC) starts a new week in the shadow of a deepening geopolitical nightmare unfolding in Ukraine. As retaliation for the Ukraine invasion and the macroeconomic consequences grow, crypto by and large is…
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A leading U.S. auction house, Phillips is auctioning a Baqueirat collection in May. Accepted payment options include Bitcoin and Ether. In further signs of crypto adoption among the art world, a leading United States auction house will accept crypto as payment for a series of paintings. A Jean-Michel Basquiat collection is up for auction by…
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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…
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The world’s leading payment processors Visa and Mastercard have joined sanctions against Russia over its military invasion of Ukraine. The American companies announced suspension of operations in the Russian Federation although Russians will be able to use their cards inside the country. Card Payment Giants Visa and Mastercard Add to Pressure on Russia Over Ukraine…
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