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As a permissionless store of value, bitcoin allowed me to escape the dangers of Russia’s invasion of Ukraine. And it can help you, too.
For me, being a Bitcoiner means believing in the free market and voluntary exchange. Bitcoin allows all exchange participants to benefit. But while we still live in a fiat- and State-dominated world, we sometimes face unprecedented threats and challenges.
This is my story.
The European Commission last week boosted restrictions on providing financial services to Russians.
CoinDesk
The European Union has extended its sanctions against Russia and has added more restrictions to crypto wallets and related services. Per a press release, the European Commission implemented an eight package on the Russian Federation due to its conflict with Ukraine.
The sanctions are aimed at negatively impacting key areas of the Russian infrastructure and preventing them from continuing with their invasion of Ukraine. The Commission claims the conflict has escalated into an “illegal war against Ukraine”.
Gazpromneft, the third-largest oil producer in Russia, is partnering with Swiss-based bitcoin mining company BitRiver to mine bitcoin with excess resources.
The third largest oil producer in Russia, Gazpromneft, is partnering with Swiss-based bitcoin mining firm BitRiver to build out mining operations located at oil fields according to a memorandum from the St. Petersburg International Economic Forum.
The “FaceApp” craze, in which users can use an application to see what they will look like when they are elderly, is experiencing a second wave of popularity. Yet privacy experts point out that FaceApp may just make it that much easier for your privacy to be invaded. Your Data Is Your Concern Nobody ever […]
The post FaceApp Thrusts User Privacy into Spotlight amid Russian Ties appeared first on CCN Markets
By CCN Markets: Japanese crypto exchange Coincheck was dealt a significant blow in January 2018, losing $ 530 million worth of New Economy Movement (NEM) tokens to an unknown group of hackers. It is widely believed that North Korean hackers were behind the biggest crypto exchange theft ever. But Japanese newspaper Asahi Shimbun reports that Russian hackers were the ones who orchestrated the attack. Russian breadcrumbs in the Coincheck crypto exchange hack The Japanese newspaper says that the examination of a Coincheck employee’s personal computer revealed a malware associated with Russian hackers. The hack was a result of the crypto exchange’s
By CCN Markets: Russia is continuing to explore the possibility of a gold-backed cryptocurrency for use as a cross-border settlement alternative with other countries. Under heavy sanctions from the US, the potential of a value-pegged cryptocurrency could help Russia escape from the usage of the Dollar as a currency standard. Russia’s State Duma member Vladimir Gutenev proposed the creation of this digital asset. He suggested the tying of the value to gold would alleviate issues found in cryptocurrencies, and that this offering would be likened to a stable coin. Breaking US Dollar bonds Russia has honed in on gold reserves
A court case in Russia has signaled a change in the attitude authorities have towards the cryptocurrency space, at least on first glance. An online portal helping traders find the best exchange options for their digital assets will be allowed to restore normal operations. That’s after prosecutors gave up their efforts to block the website citing upcoming Russian legislation meant to regulate Bitcoin.
Also read: Russia Prepares to Test Cryptocurrencies in Four of Its Regions
As a Saudi oil minister once remarked, the Stone Age didn’t end because we ran out of stones. It seems it’s neither the deficit of a tool nor its deficiencies that make it obsolete, but rather the invention of new tools that do the job better. With increasing competition, will the U.S. dollar continue to be the world’s primary currency, will it come to be just one of several reserve fiat currencies, or will cryptocurrency become the new instrument that powers the global economy?
Also read: Lithuania Central Bank’s Policy Update Opens the Door for Crypto Payments
The U.S. Department of the Treasury has sanctioned a Moscow-based bank over its role in financing Venezuela’s controversial petro token.
CoinDesk
During the week of March 2, roughly 14,365 BTC changed hands via peer-to-peer (P2P) exchange Localbitcoins, equating to approximately $ 51.51 million worth of trade. Of that, 3,593 was BTC traded via the Russian markets, 83 percent more volume than was produced by Localbitcoins’ second-largest market, Venezuela.
Also Read: Turkish Real Estate Agency Sells 9 Houses for BTC
Approximately 3,593 BTC were traded for Russian rubles (RUB) on Localbitcoins this past week, making it the largest P2P market by trade volume. Russian Localbitcoins trade activity during the week of March 2 equated to 918 million RUB (approximately $ 13.81 million).
Finnish public broadcaster YLE will air a damning program on March 4 that reveals Nordea Bank’s alleged involvement in a multi-million-dollar money laundering scheme. The program will show how dirty money, mostly from Russian criminals, passed through Nordea, the biggest lender in the Nordic region.
Also read: Startup Company Sets Up Bitcoin ATM in Botswana
Nordic financial authorities indicated in October that they had received documents from Bill Browder’s Hermitage Capital Management alleging Nordea had breached anti-money laundering laws.
By CCN.com: Russia’s media watchdog, Roskomnadzor, plans to sue Facebook and Twitter for not complying with laws pertaining to the storage of Russian’s citizen’s data. There is speculation this could lead to Facebook and Twitter being banned in Russia. Such a ban might have a greater impact on Twitter than it would on Facebook. Russia
The post Why a Russian Social Media Ban Would Hurt Twitter More Than Facebook appeared first on CCN
The recently established Russian subsidiary of global cryptocurrency exchange Huobi and Vnesheconombank, Russia’s state-owned development bank, are now partnering to offer crypto companies legal support and advice. The newly created “legal lab” will also represent blockchain businesses in court.
Also read: German Startup Devises Eco-Friendly Energy-Efficient Miners
Huobi, which is currently the third largest digital asset trading platform by daily volume, opened its office in Russia on Nov. 12. The branch provides 24-hour online support and has a Russian-language call center. The Huobi Russia online exchange officially launched on Dec. 6.
In the absence of a comprehensive regulatory framework for cryptocurrencies in Russia, lawyers have taken matters into their own hands. A new advisory body of legal experts will look into cases where the current legislation does not reflect the specifics of the growing digital economy and propose solutions.
Also read: CEO of Romanian Exchange Coinflux Arrested on US Warrant
During a round table discussion on these issues, the Russian Lawyers Association and an educational organization called Blockchain Lawyers have agreed to establish a specialized commission that will address the legal challenges in the crypto industry. It will also work with companies in other related sectors such as blockchain development, artificial intelligence, quantum technologies and the internet of things.
The Deputy Prime Minister of Russia, Maxim Akimov believes the current downturn in the market justifies caution in enforcing cryptocurrency regulation, Russian Finmarket reports. This statement comes after Mr. Akimov announced that the authors of Russia’s current daft cryptocurrency legislation to make amendments to the bill. The bills “On Digital Financial Assets”- which was adopted
The post Russian Deputy PM: Crypto Downturn Justifies Caution in Enforcing Regulation appeared first on CCN
Russian Economic Development Minister Maksim Oreshkin has stated that while bitcoin has deflated like a “soap bubble,” it has impacted the world positively by boosting investment in new technologies. Speaking to the media on Wednesday at Russia Calling, an investment forum organised by VTB Capital, Oreshkin said that despite the woes of the crypto market,
The post Bitcoin Deflated Like a ‘Soap Bubble’: Russian Economy Minister appeared first on CCN
The securities commissioner of North Dakota has issued Russia’s Union Bank Payment Coin with a Cease and Desist Order. According to Karen Tyler, North Dakota’s securities commissioner, Union Bank Payment Coin promoted unregistered securities that were potentially fraudulent via an Initial Coin Offering (ICO). This came on the back of investigations done by North Dakota
The post North Dakota Slaps Russian ICO Passing Off as Union Bank AG with Cease and Desist appeared first on CCN
In recent regulatory news, the U.S. Securities and Exchange Commission (SEC) has reportedly launched an investigation into Salt Lending’s 2017 initial coin offering. Separately, the SEC revealed that it has stopped accepting public comments on nine bitcoin exchange-traded funds that it rejected in August, and digital asset exchange Huobi has announced that it is providing cryptocurrency consulting services to a Russian state-owned bank.
Also Read: Indian Government Expects to Finalize Crypto Bill Next Month
North Dakota has issued a cease-and-desist against a Russia-based ICO for copying a bank’s website to promote “potentially fraudulent securities.”
CoinDesk
