US Sanctions on Iranian Cryptocurrency Exchanges
The US has added four digital asset exchanges to its sanctions list, including Iran’s largest cryptocurrency exchange, Nobitex. In a statement from the US Department of the Treasury, it was reported that the Office of Foreign Assets Control (OFAC) has issued new sanctions against Iran under the “Economic Fury” campaign. The statement noted that Nobitex […]
Russia to Ease Crypto Restrictions to Bypass Sanctions
The Central Bank of Russia is considering relaxing its strict cryptocurrency regulations as the country struggles with international payment difficulties caused by extensive Western sanctions. The main debate centers on removing the requirement that individuals be classified as “super-qualified investors” to buy or sell cryptocurrency on Russia’s planned exchange. Currently, only individuals with over 100 […]
UK targets sanctions circumvention and crypto networks exploited by Russia
According to the statement made by UK’s Foreign, Commonwealth & Development Office, financial networks utilised by Russia to soften the blow of western sanctions are being targeted by the UK. With sanctions continuing to bite, Russia has turned to the Kyrgyz financial sector to channel money through opaque financial networks, including through the use of […]
South Korea Plans Sanctions Against BitMEX, KuCoin and CoinW
South Korea plans to sanction unregistered crypto exchanges such as BitMEX, KuCoin and others for operating illegally without VASP licences. The Financial Intelligence Unit (FIU) has identified a number of exchanges that have not registered as Virtual Asset Service Providers (VASPs), a requirement under South Korean law. The exchanges facing potential sanctions include BitMEX, KuCoin, […]
US Court Cancels Sanctions on Crypto Mixer Linked to N. Korea Hack
A federal appeals court has ruled that the US Treasury Department exceeded its authority by sanctioning cryptocurrency mixer Tornado Cash after a North Korean hacking group used the software to launder more than $455 million. A three-judge panel of the Court of Appeals sided with six users of crypto-mixing services who argued that the software […]