Category: Sanctions

Auto Added by WPeMatico

Venezuela’s National Cryptocurrency ‘Petro’ Expected to Go Global

According to a Venezuelan official, Tuesday’s Petro pre-sale will have international reach, drawing potential investors from the US, Europe and the Middle East. It was just over two months ago that Venezuela’s president, Nicolás Maduro, announced his bold...

Europe’s Small Banks See Crypto as Opportunity to Take on Big Banks

Unlike larger banks who are criticizing crypto, some smaller institutions in Switzerland, Germany and Liechtenstein are bucking the trend. They are are instead offering their clients opportunities to be a part of the digital currency revolution. Big banks...

Why Venezuela’s New National Cryptocurrency El Petro Will Fail

Washington and legacy media are in a tizzy about Venezuela reportedly thwarting international sanctions by way of a dreaded state-backed cryptocurrency. A closer look reveals several stumbling blocks for the Bolivarian Republic: nonexistent reserves, hyperinflation, centralization, and the...

All Major Korean Cryptocurrency Exchanges Fail Privacy Tests – 30 Days to Improve

The South Korean Communications Commission has conducted a survey of major cryptocurrency exchanges in the country and found them to have insufficient customer data protection. Eight exchanges have been sanctioned, with 30 days to resolve their issues and...

New Research: Laundering of Illicit Funds Less than 1% of Bitcoin Transactions

The Foundation for Defense of Democracies’ Center of Sanctions and Illicit Finance in conjunction with blockchain analytics company, Elliptic, has published a study seeking to track the circulations of illicit funds within the bitcoin economy from 2013 to...

Cryptoruble Delayed – Russian Central Bank Worried It Could Bypass Regulations

Russia’s national cryptocurrency, the cryptoruble, is unlikely to be created in the foreseeable future, according to the Bank of Russia. The central bank believes that it could be used to bypass regulations. Meanwhile, the finance ministry wants to...

Bitcoin is More Than Just an Investment Option for Iran

Iran’s citizens are straining under the weight of aggressive financial sanctions as result of its nuclear initiatives. Cryptocurrencies like Bitcoin provide a circumvention solution. Even though Bitcoin continues its somewhat volatile price jumps, it is still a desirable...

Venezuela’s Parliament: Maduro’s Petro Cryptocurrency ‘Illegal’

Venezuela’s president may have to put his Petro plans on hold as the country’s opposition party has outlawed the proposed state-controlled crypto. As decentralized cryptocurrencies continue to shine and grow in interest, certain governments are becoming aware of...

Venezuela’s Oil-Backed Cryptocurrency Declared Illegal

The Venezuelan parliament has declared the oil-backed cryptocurrency created by President Nicolas Maduro illegal and in violation of the country’s Constitution. Maduro’s decree to create the national cryptocurrency, the petro, has been declared null and void. Also read:...

Putin Wants to Use Cryptoruble to Evade Sanctions But Bank of Russia Skeptical

Russia’s president Vladimir Putin has reportedly commissioned work to create a cryptocurrency as a tool to circumvent international sanctions. His economic adviser explained that “no mining is possible” for the cryptoruble. Meanwhile, the country’s central bank and finance...