Russia

The research firm said that on-chain data point toward Russian hackers, instead of the previously-suspected North Korean Lazarus Group.

Binance, the world’s largest crypto exchange, has removed sanctioned Russian banks from its P2P trading service, the Wall Street Journal reported on Friday. 

Binance continues to help a significant amount of Russian funds move abroad through crypto transactions, according to The Journal.

Welcome to Forkast IQ, presented by Angie Lau, where we look beyond the headlines to get you insights that power smarter decisions. Coming up on today’s show:

Russia is now the second largest Bitcoin miner after the U.S., according to a report by Russian media Kommersant. 

Russia has postponed the trial of a digital ruble originally scheduled for April 1, as it awaits a regulatory framework to be adopted before the pilot, according to a report by state-owned news agency TASS.

Russian lawmakers aim to launch a national cryptocurrency exchange, supported by the country’s Ministry of Finance and the Central Bank of Russia.

Bitcoin and Ether rose on Wednesday morning in Asia amid reports of alleged Russian missile strikes on Poland while inflationary data out of the U.S. provided support.

‘Risky or illicit’ transactions represent the highest rate of any region measured by the blockchain analytics firm.

Russia is planning to use its central bank digital currency (CBDC) in testing, the digital ruble, to carry out mutual settlements with China, Reuters reported on Monday, citing a senior Russian lawmaker. See related article: Is cryptocurrency a workaround for sanctions against Russia? Fast facts Anatoly Aksakov, head of the financial committee in Russia’s lower […]

The Security Service of Ukraine (SSU) seized and blocked a cryptocurrency wallet used to fund the Russian military campaign in the country. The agency is working on tracking the funds and transferring them under Ukrainian jurisdiction, according to the SSU. See related article: Vitalik Buterin says he used Tornado Cash to donate to Ukraine Fast […]

Amid debate over the U.S. Treasury Department’s banning of the crypto mixer, the Ethereum cofounder said he used the service to protect recipients.

A new report by Chainalysis shows that sanctioned actors, especially in North Korea and Russia, are sending record sums to crypto mixers.

Russia’s Deputy Minister of Industry and Trade Vasily Shpak called for regulating cryptocurrency mining as the industry has grown too big to ignore, Interfax news agency reported on Friday. See related article: Russia uncovers a crypto mining farm in its oldest prison: report Fast facts Shpak said that crypto mining activities took up over 2% […]

A Terra employee has been accused of embezzlement. Meanwhile, a crypto mining farm has been found in Russia’s oldest prison.

A deputy warden of Russia’s oldest prison has allegedly mined cryptocurrency in the facility and is under investigation on suspicion of stealing electricity to do so, Bitcoin.com reported on Monday. See related article: To stay relevant, crypto regulations need to evolve, decentralize: Crypto Rising Fast facts The deputy manager of Butyrskaya prison in central Moscow […]

Russia’s invasion of Ukraine has shown that cryptocurrency regulations need to expand beyond the jurisdiction of a single government and blockchain technology can help with that, said panelists at ‘Crypto Rising,’ a series of virtual monthly events organized by Forkast.

Binance categorically denies sharing client data with Russia. Meanwhile, Chinese officials push for e-CNY use at the Asian Games.

Binance, the world’s largest cryptocurrency exchange by trading volume, denied sharing client data with Russian authorities, following a Reuters investigation into the exchange’s ties with the country.

A Russian crypto miner has been added to the US Sanctions list. Meanwhile, Dogecoin underperforms as Apecoin storms ahead.

The U.S. sanctioned Russian cryptocurrency miner Bitriver and its 10 subsidiaries on Wednesday, in an attempt to further isolate Russia from the global economy for invading Ukraine.  See related article: Russia proposes Bitcoin payments for oil and energy exports Fast facts “Russia has a comparative advantage in crypto mining due to energy resources and a […]

South Korea’s Kakao Group acquires SEBC. Meanwhile in India, an MP reveals the government’s plans for the crypto industry,

The U.S. Department of the Treasury sanctioned what it called “the world’s largest and most prominent darknet market” based in Russia and a cryptocurrency exchange associated with ransomware activities. See related article: Russian-linked strains lead crypto ransomware in 2021: Chainalysis Fast facts The Treasury Department Tuesday sanctioned Hydra Market, alleging it offered a marketplace for […]

Ukraine’s Ministry of Digital Transformation launched the Meta History Museum of War on Friday, a museum hosted on the Ethereum and Polygon networks that chronicles the country’s war with Russia through non-fungible tokens (NFTs). See related article: Zelenskyy legalizes cryptocurrency in Ukraine Fast facts “Disinformation is used by Russia on a par with deadly military […]

Russia considers a bitcoin for oil proposal. Meanwhile, crypto markets make gains after weeks of volatility.

Russia State Duma deputy and Energy Committee chairman Pavel Zavalny proposed Bitcoin and national currencies as payment options for energy exports to “friendly countries,” such as Turkey and China, at a press conference on Thursday. See related article: EU says crypto included in sanctions against Russia and Belarus Fast facts Zavalny proposed gold and Russia’s […]

As the conflict between Russia and Ukraine rages on and sanctions continue to mount, Russia-based bank Sberbank obtains a crypto license from the Central Bank of Russia. Meanwhile in China, social media platform Weibo allows its users to mint NFTs of their social media posts.

Cryptocurrencies have won credit for their role in Ukraine’s war, showing utility that will drive them beyond the battlefield, says Amber Group’s Michael Wu.

The Central Bank of Russia has given the country’s largest bank, Sberbank, a license to issue and exchange digital assets only two months after the central bank had called for a full ban on cryptocurrency. See related article: Russia retreats from crypto ban as it pushes rules for industry Fast facts The move may allow […]

Ukrainian President Volodymyr Zelenskyy has signed a virtual assets bill into law to legalize cryptocurrencies in a country that is receiving millions in crypto donations for military and humanitarian aid in its war against Russia. See related article: Ukraine crypto donations top $36M amid Russian invasion Fast facts The law determines the legal status for […]

Amid Russia’s invasion of Ukraine, two divergent narratives about crypto are being told, writes Alex Tapscott. Which version is correct?

Crypto exchange Binance has won a license to operate in Bahrain. Meanwhile in Southeast Asia, Singapore’s Monetary Authority has designated Russian banks amid growing sanctions.

Vogue Singapore and Vogue Ukraine have listed a non-fungible token (NFT) collection “Fashion for Peace” on the OpenSea marketplace to raise funds for humanitarian relief efforts in Ukraine.  See related article: Two sides to every coin: Crypto as a weapon in the fight for Ukraine Fast facts See related article: Ukraine to launch NFT ‘museum’ […]

The Monetary Authority of Singapore (MAS) has imposed financial measures targeting designated Russian banks, entities and activities in Russia, and fundraising activities benefiting the Russian government, in response to Russia’s invasion of Ukraine. See related article: Singapore prohibits crypto, NFT transactions in sanctions against Russia Fast facts An MAS notice named the designated banks as […]

Japan’s Financial Services Agency and Ministry of Finance jointly announced penalties on crypto exchanges that do not comply with sanctions on Russia following its invasion of Ukraine, following G7 vows to tighten crypto sanctions. See related article:  Russians turn to crypto as Western sanctions hit the ruble Fast facts See related article: Russia faces crypto […]

The Ukrainian government will launch a non-fungible token (NFT) collection that will be “like a museum of the Russian-Ukrainian war,” the Guardian reported on Sunday, citing minister of digital transformation Alex Bornyakov.  See related article: Ukraine cancels crypto airdrop, promises NFTs Fast facts Each NFT will feature digital art depicting a news story from trusted […]

Cryptocurrency is being used both to fund Ukraine’s defense and prevent Russia’s ability to skirt sanctions in what may become a pivotal moment for the industry.

War-mongering Russia is finding itself increasingly isolated. Can cryptocurrency help the rogue state soften the blow of sanctions?

Nine U.S. senators are backing a bill that aims to crack down on China’s central bank digital currency (CBDC), the e-CNY or digital yuan, which they claim could allow Russia to bypass financial sanctions imposed on its banks and entities.  See related article: Digital yuan pilot attracts Chinese province bordering Russia Fast facts “If left […]

Blockchain analytics firm Chainalysis announced the launch of two screening tools on Friday that will allow cryptocurrency wallet owners to determine if wallets are compliant with global sanctions efforts and will be provided free of charge to the crypto industry.  See related article: Coinbase blocks 25,000 Russian crypto wallet addresses Fast facts Centralized exchanges widely […]

As the Russia-Ukraine conflict rages on, the European Union says that crypto is included in the sanctions against Russia and Belarus. Meanwhile, South Korean President-Elect Yoon Suk-Yeol’s term in office could bring about long awaited changes in the crypto sector.

As Russia’s economy began to tank, data shows many turned to Bitcoin and other cryptocurrencies as a store of value and means of transacting.

The European Union (EU) said on Wednesday that crypto assets fall under the scope of “transferable securities” in its sanctions imposed on Russia and Belarus. See related article: Russian banks turn to China’s UnionPay as Visa, Mastercard pull plug Fast facts The EU is extending its sanctions to Belarus for its involvement in Russia’s invasion […]

Top blockchain and crypto news: Moscow faces crypto winter. DeFi doyen quits Fantom. China mulls metaverse moves.

Cryptocurrency exchanges will face public backlash if they continue to operate in Russia, Alex Bornyakov, Ukraine deputy minister of digital transformation, said in an interview with Reuters on Tuesday, reiterating his call for a blanket ban on Russian crypto traders. See related article: Coinbase blocks 25,000 Russian crypto wallet addresses Fast facts “Private business decides […]

US crypto exchange Coinbase has blacklisted 25,000 Russian wallet address in response to the ongoing Russian-Ukraine conflict. Meanwhile in Asia, English-language newspaper South China Morning Post announces the launch of its metaverse experience.

Nasdaq-listed Coinbase has blocked over 25,000 crypto wallet addresses believed to be associated with Russian individuals and entities engaging in illicit activities.  See related article: US asks crypto exchanges to comply with Russian sanctions: report Fast facts Coinbase, the largest U.S. crypto exchange, said it will not impose a blanket ban on all Russian wallet […]

Stranded away from home, Web 3.0 company Everstake founder Sergey Vasylchuck realized he could still help his war-torn homeland Ukraine by raising funds through a DAO.

As China’s Two Session’s meetings begin, ‘Metaverse’ enters the Chinese government’s radar. And while the invasion of Ukraine continues, Singapore announces new sanctions on Russia.

Russian banks may begin issuing credit cards with China’s UnionPay after Visa and Mastercard announced the suspension of their Russian operations due to the invasion of Ukraine, according to media reports citing the Russian central bank. See related article: Four more South Korean crypto exchanges block Russian IPs Fast facts Russian banks are also leaning […]

The Monetary Authority of Singapore (MAS) has prohibited transactions involving digital assets such as cryptocurrencies and non-fungible tokens (NFTs) in its sanctions against Russian banks and entities, the central bank said in a statement.  See related article: USDT-RUB volume outpaces Bitcoin pair as Russia sanctions pile Fast facts Following Russia’s invasion of Ukraine, MAS will […]

Bitcoin and other cryptos are being used on both sides of the fight, raising ethical issues that cut to the core of decentralization, says AAX’s Ben Caselin

As the war in Ukraine enters it’s second week, we take a look at how cyptocurrencies and digital assets can play a role in a conflict.

OpenSea users based in Iran claim their accounts have been suspended from the U.S.-based non-fungible token (NFT) marketplace, in a growing list of users experiencing restrictions from cryptocurrency-related service providers due to sanctions against the Iranian government, CoinDesk reported.  Fast facts See related article: Binance may join sanctions imposed on Russian targets Many OpenSea users […]

Upbit, Bithumb, Coinone, and Korbit announced restrictions to block Russian IP addresses on Thursday, bringing the total to five in the nation.  See related article: S.Korean crypto exchange freezes around 20 Russian accounts Fast facts Gopax was the first crypto exchange in South Korea to publicize the restriction, citing efforts to align with Western sanctions […]

Crypto donations on the rise for Ukraine as Russian aggression continues. Meanwhile in Asia, China’s Two Session’s are set to begin – could Ukraine and crypto be a part of the agenda?

War-mongering Russia is finding itself increasingly isolated. What if the rogue state tries to regain its financial footing via cryptocurrency?

Look for progress reports on e-CNY, blockchain technology, new digital infrastructure, and subtle mentions of the international sanctions against Russia.

Crypto donations raised by the Ukrainian government alone since the Russian invasion topped US$38.8 million on Thursday, as funds flowing into alternative channels bring total contributions to at least US$60 million.  See related article: Ukraine crypto donations top $36M amid Russian invasion Fast facts Aid for Ukraine, a decentralized autonomous organization set up by the […]

South Korean cryptocurrency exchange Gopax announced on Wednesday that it has frozen and blocked Russian accounts and IP addresses from its platform. See related article: Russian ruble plunges; Ukraine DAO aids civilians Fast facts According to local media, the exchange has blocked around 20 accounts belonging to Russian users. Gopax said its restrictions align with […]

Support for Ukraine in the crypto world grows as Russia’s attack continues. Meanwhile, hackers gives American tech giant an ultimatum.

Top blockchain and crypto news: Digital currency battling Russian invasion. Ethereum remains NFT projects’ chain of choice. China to lock up crypto traders.

Hong Kong-based Animoca Brands has shuttered its services to Russian users saying it is relying on legal advice that equates Western sanctions against Russian entities to the blanket sanctions against North Korea, Bloomberg reported on Wednesday. See related article: Binance may join sanctions imposed on Russian targets Fast facts “The legal advice we’ve been receiving […]

Ukraine’s Minister of Digital Transformation Mykhailo Fedorov on Tuesday thanked crypto companies by name for their financial support in their defense against the Russian invasion. Fast facts “I am grateful to @gavofyork, who made an impressive donation of $5M from @Polkadot $DOT. This will certainly contribute to the Ukrainian victory as well as support civil […]

Sanctions on Russia have prompted a resurgence in the Crypto market as the Russian ruble takes a nosedive. And as the attack on Ukraine continues, a decentralized autonomous organization is created to support Ukrainian civilians who have joined military efforts.

With limited access to donations through traditional crowdfunding, cryptocurrencies and NFTs offer immediate help, Trippy Labs tells Forkast.

The trading volume of the USDT-RUB pair spiked to a 10-month high and outpaced the ruble’s Bitcoin pair as international sanctions against Russia shake local financial stability.  See related article: US asks crypto exchanges to comply with Russian sanctions: report Fast facts The daily trading volume of the BTC-RUB pair surged to over 3 billion […]

The U.S. is asking crypto exchanges around the world to prevent Russia from skirting sanctions imposed after it invaded Ukraine last week, Bloomberg reported. See related article: Binance may join sanctions imposed on Russian targets Fast facts The Biden administration is concerned that cryptocurrencies can be used to evade heavily regulated traditional financial systems. The […]

The global cryptocurrency market cap recovered above US$2 trillion since dropping below the mark in mid-February, in a US$200 billion 12-hour run.  See related article: Bitcoin, crypto market tank as Putin declares war on Ukraine Fast facts Bitcoin’s price jumped over US$2,000 in a 10-minute window from 6:30 am HKT Tuesday to mark a ceiling […]

Ukraine is offering Russian soldiers cash or crypto for their surrender in the ongoing attack on Ukraine. Meanwhile, Binance is working to comply with sanctions on Russia.

Cryptocurrency donations to Ukraine through government and private channels have topped US$36 million as contributions continue to mount throughout the Russian invasion.  See related article: Binance may join sanctions imposed on Russian targets Fast facts The Ukrainian government has received 113 BTC and 2,001 ETH, totaling almost US$10 million, as of press time. Binance has […]

Russian soldiers surrendering to Ukraine will receive 5 million rubles worth of crypto or cash, according to Masha Efrosinina, local TV host and honorary ambassador of the United Nations Population Fund in Ukraine.  See related article: Ukraine’s crypto demand soars; Russian sanctions tighten Fast facts Efrosinina said in an Instagram post that surrendering soldiers of […]