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Central Bank of Russia Lays Case Against Cryptocurrency, Claims Threat to Economy

In its newly published annual report 2021, the Central Bank of Russia (CBR) highlighted that the growing appetite for cryptocurrency by Russians, considering the risks associated with crypto activities, poses a systemic threat to the Russian economy. Adding to its long list of possible downsides the country could face from digital currencies like Bitcoin and […]

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EU Targets Cryptocurrency Industry as It Issues Fresh Round of Restrictions on Russia

As it expands its sanctions against Russia on its military invasion of Ukraine, the European Union (EU) has again gone after the cryptocurrency industry. Last Friday, the European Commission introduced a dusty round of restrictions on Russia agreed on by the Council of the EU. The Commission detailed that the additional sanctions should “further contribute […]

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Central Bank of Russia Throws Out Proposal to Use Crypto in Sanctions Evasion

The Central Bank of Russia (CBR) has ruled out the possibility of using cryptocurrency to evade the hefty sanctions imposed on the country following its military invasion of Ukraine in late February. The latest development came from a statement by the Bank’s First Deputy Governor, Ksenia Yudaeva, as a response to a proposal forwarded by […]

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