U.S. claims Russia is using Tether to evade sanctions – Uh…
Kicking things off with a no-nonsense alert, the U.S. Treasury’s Wally Adeyemo has sounded the alarm loud and clear. Apparently, Russia’s been getting reeeaaally cozy with the cryptocurrency industry to dodge sanctions. And not just any crypto – I’m talking Tether, the stablecoin that’s as steady as a rock. A personal favorite. This move is […]
Breaking down major components of US-Russia sanctions
The United States just rolled out a hefty bundle of sanctions against Russia. I’m talking a full-on smackdown in response to some pretty heavy stuff, including the sad case of opposition leader Alexei Navalny’s death and the ongoing Ukraine invasion saga. This time around, over 500 people and entities are feeling the heat. The US […]
Russian Oligarch accused of sanctions evasion in crypto share sale
Russian businessman Mikhail Klyukin, previously sanctioned by the United States, is facing scrutiny over allegations of evading sanctions through a cryptocurrency transaction. Klyukin’s controversial sale of over £15 million shares in Copper Technologies, a digital systems company for cryptocurrency investment and trading, has raised questions about compliance with sanctions laws and the potential risks for […]
Spain’s CNMV Initiates Sanction Proceedings Against Crypto Promoter
The National Securities Market Commission (CNMV) of Spain has taken action against Miolos S.L, a cryptocurrency promoter, for alleged violations of crypto promotion rules in the country. This marks the first such case in Spain, emphasizing the regulator’s commitment to enforcing cryptocurrency regulations. Spain’s principal financial regulator, the National Securities Market Commission (CNMV), has taken […]
US Treasury Imposes Sanctions on Russian National for Money Laundering via Virtual Currency
The Department of the Treasury’s Office of Foreign Assets Control (OFAC) has taken decisive action against money laundering activities involving virtual currency. In a bid to curb the exploitation of virtual assets to evade international sanctions, OFAC has imposed sanctions on Ekaterina Zhdanova, a Russian national. Zhdanova is accused of playing a significant role in […]
U.S. Treasury targets Sinaloa Cartel member over Ethereum use
The United States Treasury Department has intensified its focus on Jimenez Castro, an alleged member of the notorious Sinaloa Cartel. Castro is accused of leveraging Ethereum to fund fentanyl smuggling operations into the United States, highlighting the challenges authorities face in the digital era due to cryptocurrencies’ decentralized and anonymous nature. The Treasury Department’s OFAC […]
Russia embraces crypto amid international sanctions and rising cyber threats
With sanctions biting hard and cyberattacks causing havoc, Russia is increasingly turning towards cryptocurrency as an economic safety net. The rate of cryptocurrency use in the country rose to 14% in 2023, an increase of 4%, and quadruple the growth rate of the US, according to a recent survey by Statista. In contrast, the US […]
