Russia’s central bank has urged businesses to consider various payment solutions, including cryptocurrencies and digital assets, to manage transactions with foreign partners and counter Western sanctions. Bank of Russia Governor Elvira Nabiullina highlighted that the central bank has softened its stance on the use of cryptocurrencies in international payments. She also mentioned ongoing efforts to […]
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US Lawmaker Proposes Stricter Digital Asset Regulations to Enforce Russian Sanctions
U.S. Congressman Brad Sherman has proposed an amendment designed to enhance the enforcement of sanctions on Russian digital assets. The amendment allows the Treasury Secretary to prohibit crypto transactions linked to Russian entities and requires U.S. taxpayers to report crypto transactions offshore exceeding ,000 to the Financial Crimes Enforcement Network (FinCEN). New Amendment Seeks to […]
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US Treasury Expands Sanctions to Cripple Russian War Economy
The U.S. Treasury Department announced Wednesday that over 300 new sanctions have been issued to intensify pressure on Russia for its ongoing war against Ukraine. These measures, in alignment with G7 commitments, target entities and individuals globally to cripple Russia’s military-industrial base by restricting access to U.S. software, IT services, and foreign financial support. The […]
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30 Countries Seek to Join BRICS, Russian Ambassador to China Says
Russian Ambassador to China Igor Morgulov disclosed that approximately 30 countries are interested in joining the BRICS economic bloc in an opinion piece published by the South China Morning Post last week. BRICS welcomed five new members in January: Egypt, Iran, the United Arab Emirates (UAE), Saudi Arabia, and Ethiopia. Last week, Russian Presidential Spokesman […]
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US Authority Seizes 70 Crypto Scam Sites Targeting Russian Community
The Brooklyn District Attorney’s Office has seized 70 domains used to scam the Russian community. The scam involved deceptive Facebook ads featuring a deepfake of Tesla CEO Elon Musk. Over 20 Brooklyn residents and additional victims nationwide lost a total of million. 70 Crypto Scam Domains Seized The Brooklyn District Attorney’s Office announced Thursday […]
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Russian State Duma Official: International CBDC Settlements to Become ‘Common Practice’ in 5 Years
Anatoly Aksakov, Chairman of the Russian State Duma Financial Markets Committee, has predicted that international trade will migrate to CBDC for settlements during the next five years. Aksakov stressed that not many countries have made progress using these digital currencies, but he believes this will be addressed soon. Russian State Duma Official Bets on National […]
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Economist Jim Rickards: The Global Clearance and Settlement System Might Collapse After Seizure of Russian Assets
Jim Rickards, an economist and author of the best-selling book ‘Currency Wars,’ has issued an alert about the possible collapse of the global clearance system. In a recent interview, Rickards noted that Euroclear, a settlement service, holds 0 billion in Russian assets. He further explained that Euroclear could face lawsuits if Western countries seize these […]
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Companies Turn to Crypto for Payments as G7 and EU Mull Sanctions on Russian SWIFT Equivalent
Some Russian companies have turned to using crypto to settle payments and protect themselves from potential secondary sanctions from Western countries. At least two top metal producers have transacted using USDT, the largest stablecoin in the crypto market, as the G7 and the EU mull more sanctions against alternatives for these operations. Crypto Used as […]
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Russian Traffic to Global Crypto Exchanges Surges; Central Bank Warns of Western Sanctions Risk
The surge in Russian traffic to global cryptocurrency exchange platforms in the last two quarters has prompted officials to issue a warning about the risk of Western sanctions. According to a central bank study, Russian traffic to some of the largest crypto exchanges increased by 16.4%, reaching 104.6 million visits. Russian Share of Global Traffic […]
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IMF Acknowledges Russian Assets’ Confiscation Might Undermine the World’s Financial System
The IMF has expressed its concerns about the possible outcome of the confiscation of Russian assets abroad as a consequence of the ongoing military conflict between the nation and Ukraine. Julie Kozack, a spokesperson for the institution, called for these actions to have a proper justification to avoid threatening the world’s financial system. IMF Calls […]
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