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Surprise: US and EU can control crypto scam
  • Vitaliy_KiselevVitaliy_Kiselev

    EU added crypto currencies and crypto trading to their sanctions list.

    New rumors started pouring last hour.

    As it turns out EU can control largest exchange points and also can track almost all transactions.

  • 5 Replies sorted by
  • Vitaliy_KiselevVitaliy_Kiselev

    According to French Economy and Finance Minister Bruno Le Maire, the EU is considering measures to "further increase the effectiveness" of anti-Russian sanctions and prevent any ways to circumvent the introduced restrictive measures.

    At the same time Western politicians warn that it is cryptocurrencies that can become a way to transfer money unlimitedly around the world, despite sanctions.

    The publication also cites data from the research group Chainalysis, according to which, trade between the Russian ruble and cryptocurrencies such as bitcoin and ether has doubled since the start of Russia's special military operation in Ukraine, reaching $60 million a day on Monday.

    The Executive Deputy Chairman of the European Commission (EC), Valdis Dombrovskis, said that after disconnecting seven Russian banks from the SWIFT payment system and freezing the assets of the Central Bank of Russia, the European Union is ready to "go even further" in its sanctions.

  • Vitaliy_KiselevVitaliy_Kiselev

    Russian cryptocurrency owners were advised to withdraw it to their own wallets as soon as possible.

    The decree of the Russian president, which imposed restrictions on the withdrawal of capital abroad, does not directly prohibit cross-border transactions with cryptocurrency, but many crypto exchanges freeze the accounts of Russians, so that it is safer for users to quickly withdraw their assets to their own wallets, Polina Bardina, head of the digital group, told Interfax Pepeliaev Group.

    "The Decree does not prohibit residents from carrying out cross-border operations with cryptocurrencies, including using crypto exchanges. In other words, it is possible to transfer cryptocurrencies to foreign crypto wallets. However, if residents had the opportunity to withdraw funds in foreign currency through a crypto exchange to a foreign bank account, now such operations are prohibited," she explained.

    The expert noted that crypto exchanges are under pressure from international regulators and authorities of foreign states.

  • Vitaliy_KiselevVitaliy_Kiselev

    South Korea is actively withdrawing cryptocurrencies from residents of the Russian Federation. Accounts are blocked by all exchanges: Bithumb, Upbit, Coinone and Korbit.

  • Vitaliy_KiselevVitaliy_Kiselev

    According to the South Korean agency Yonhap, on Thursday, the largest cryptocurrency exchange in Korea, Upbit, announced that withdrawal requests from Russian IP addresses would be rejected.

    “We have blocked user subscriptions in countries that are at high risk of money laundering in accordance with Financial Action Task Force (FATF) guidelines,” Upbit said in a statement. The FATF group, which includes Russia, is developing standards in the field of combating money laundering and the sponsoring of terrorism.

    Another cryptocurrency exchange, Gopax, blocked 20 accounts of registered Russian users and restricted access from IP addresses from Russia on Wednesday. Bithumb and Korbit blocked access from Russia on Thursday.

  • Vitaliy_KiselevVitaliy_Kiselev

    US is exploring options to limit Russia's access to cryptocurrencies - US Assistant Secretary of State Nuland

    Wow, they are independent, you said? No? No more?

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