Tag: Sanctions

In partnership with TRM Labs, Uniswap Labs is now blocking crypto wallets that are found to be engaged in illegal behavior. The move reveals a trend in the DeFi sector of blocking crypto addresses sanctioned by the US Treasury Department. Uniswap Labs, the Uniswap decentralized exchange protocol’s main developer, has begun blocking crypto wallet addresses…

Binance CEO, Chengpeng Zhao, said cryptocurrencies are “terrible for avoiding sanctions.” He also noted the reason: “It is traceable.” He also explained how they lack the ability to freeze all Russian users’ assets. Chengpeng “CZ” Zhao, CEO of the biggest crypto exchange Binance, believes that cryptocurrencies are terrible for evading sanctions. This comment comes amid…

An analytic report from American investment firm VanEck says Bitcoin appears to have a much higher upside potential than gold. If each of the assets becomes the only reserve asset globally, Bitcoin could top $1.3 million, while gold may reach a price of $31,000 per ounce, respectively. However, these extreme cases have a more likely…

Over the past few years, I have heard about various countries across the world planning to use cryptocurrencies to circumvent economic sanctions. In most cases, it remained just an idea or turned into a farce, like with Venezuela and its Petro token. However, now we are seeing an entire country trying to salvage its economy…

As the Russian invasion of Ukraine enters its second month, Gita Gopinath, the International Monetary Fund (IMF) official, has warned that the financial sanctions imposed on the invading country, including restrictions on its central bank, could have some wide-reaching effects on currencies. With this, the Chinese yuan and cryptocurrencies could see their adoption accelerate with…

Over the past few years, I have heard about various countries across the world planning to use cryptocurrencies to circumvent economic sanctions. In most cases, it remained just an idea or turned into a farce, like with Venezuela and its Petro token. However, now we are seeing an entire country trying to salvage its economy…