Iran and Russia Consider Using Cryptocurrency to Evade US Sanctions: Report

Iran and Russia could turn to cryptocurrency as a solution to evade Western financial sanctions and reduce their dependence on the US dollar. Iran has been struck by a monetary crisis in recent months after its fiat currency, the rial, plunged to historic lows against the US dollar leading up to US president Trump formally

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‎₽750 Million: Russia’s Largest Bank Buys Commercial Bonds on a Blockchain

The investment and corporate banking arm of Sberbank and telecom giant MTS have laid claim to conducting Russia’s first commercial bond transaction using blockchain technology. In an announcement, MTS revealed it had placed commercial bonds worth RUB 750 million (approx. $12 million) on a proprietary blockchain platform provided by the country’s National Settlement Depository powered

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Putin’s Orders: Russia’s ‘Digital Law’ Bill Won’t Legalize Crypto Payments

Russia’s State Duma Committee on State Construction was scheduled to hold the first reading of amendments to the country’s civil code pertaining to digital currency today, but is not expected to make digital currency a legitimate method of payment, according to Izvestia, the news portal of the Ministry of Information Technologies. The bill, which the

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Venezuela’s Oil-Backed Crypto Petro Grows Thanks to a Little-Known Russian Bank

Venezuela’s oil-backed cryptocurrency, the Petro (PTR), has been surviving thanks to a little-known Russian bank, Evrofinance Mosnarbank, which has recently emerged as the only international financial institution willing to defy the US’ sanctions against the South American nation. According to an Associated Press report, early would-be Petro investors who registered with Venezuela’s government and downloaded

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Greek Police Uncover Plot to Murder Alleged Bitcoin Launderer Alexander Vinnik

Greek authorities have reportedly managed to uncover a murder plot targeting Russian national Alexander Vinnik, which was arrested in the country earlier this year, suspected of laundering $4 billion in bitcoin through cryptocurrency exchange BTC-e. According to news source Sputnik, Greek police received information about the murder plot earlier this year, but decided not to

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Russia’s Supreme Court Calls For Review Of Bitcoin Website Ban

The Supreme Court of Russia has ordered the St. Petersburg City Court to review an appeal against blocking bitcoininfo.ru, a cryptocurrency website, according to RAPSI, the court’s press service. In 2016, the Vyborgsky District Court of St. Petersburg granted a prosecutorial request to block the website, according to the court. The court held that information about

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Crimea Plans Cryptocurrency Fund to Circumvent Sanctions, Woo Foreign Investors

Crimean authorities want to launch a cryptocurrency fund for foreign investors to circumvent the economic sanctions currently in place against the Russian-occupied territory. Georgy Muradov, the deputy prime minister of Crimea, revealed his plans on April 18. “We are discussing these schemes to circumvent sanctions,” Muradov told reporters (via Tass). “One way is the creation

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Pavel Durov: I’m Using Bitcoin to Neutralize Russia’s Telegram Ban

Russia’s Telegram ban officially went into effect this week, but the encrypted messaging app is fighting back against the government censors — and it’s using Bitcoin to power those efforts. Telegram founder Pavel Durov revealed Tuesday that he has begun distributing Bitcoin grants to groups and organizations operating virtual private networks (VPNs) and other proxy

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Russian Court Bans Telegram on Heels of $1.7 Billion ICO

A Russian court has levied an official ban against messaging app Telegram, just weeks after its initial coin offering (ICO) presale raised nearly $2 billion in two private funding rounds. Tagansky court judge Yuliya Smolina ruled against Telegram on Friday, siding with communications regulator Roskomnadzor’s request for the authorization to block access to the app

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Russian Police Crackdown on Illegal Cryptocurrency Mining Farm

Police in Russia have developed a case against two organizers of a cryptocurrency mining farm in Orenburg, according to Irina Volk of the Ministry of the Interior of the Russian Federation, RIA56, a Russian news source, reported. More than 6,000 pieces of computer equipment were discovered at the former plant of the RTI which police

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