Author: cryptossor

[ad_1] The cryptocurrency exchange Coinbase has addressed the company’s procedures toward complying with sanctions in a blog post published on Sunday. The crypto firm says that respecting sanctions plays a “vital role in promoting national security” and the acts can help deter “unlawful aggression.” Coinbase Intends to Comply With International Sanctions, Chief Legal Officer Says ‘Digital Assets Have Properties That Naturally Deter Sanctions Evasion’ Following the statements of the two chief executives from two of the largest crypto exchanges on the planet, Coinbase has published a blog post concerning the company’s goals toward promoting sanction compliance. The post was written…

[ad_1] Terra, one of the top 10 cryptocurrency projects by market cap, has reached a UST-related milestone recently. The Luna Foundation Guard (LFG), a nonprofit organization, reported that the protocol had reached the maximum daily issuance of its flagship stablecoin, UST. This is due to high demand that interested parties are showing in minting the asset. Terra UST Issuance Reaches Upper Limit The Terra protocol is experiencing a marked increase in UST issuance numbers. According to the Luna Foundation Guard, an organization designed to support the Terra ecosystem and stabilize the value of its assets, the protocol has reached peak…

[ad_1] The London Bullion Market Association (LBMA) said it wants six accredited Russian gold refiners to clarify if they have commercial ties with sanctioned Russian entities. The association’s request comes a few days after it revoked the membership of three sanctioned Russian banks. LBMA Accreditation The London Bullion Market Association (LBMA) has requested six Russian gold refiners on its good delivery list clarify if they have commercial ties to sanctioned entities. If such links exist, this will likely affect the refiners’ accreditation status with the LBMA, a report has said. According to a Reuters report, the six accredited Russian refiners…

[ad_1] Neutral Switzerland may target crypto assets within its territory that belong to sanctioned Russian entities, a report has said. The report quotes an official who explains that the move is designed to protect the integrity of the country’s cryptocurrency industry. The official, however, warns that crypto-assets that are not stored with cryptocurrency exchanges are impossible to target. Protecting the Integrity of the Swiss Crypto Industry An official from the traditionally neutral Switzerland has said the country may “target” all crypto asset service points within its borders that are owned by Russians and all entities that have been sanctioned by…

[ad_1] The world’s leading payment processors Visa and Mastercard have joined sanctions against Russia over its military invasion of Ukraine. The American companies announced suspension of operations in the Russian Federation although Russians will be able to use their cards inside the country. Card Payment Giants Visa and Mastercard Add to Pressure on Russia Over Ukraine War Payment firms Visa and Mastercard are suspending operations in Russia as part of the international response to its decision to invade Ukraine. The U.S.-based financial services corporations revealed Saturday they’ll be working with clients and partners to terminate transactions through their systems. Visa…

[ad_1] In a report published on Saturday, the International Monetary Fund (IMF) has warned that an ongoing war in Europe and associated sanctions will have a “severe impact on the global economy.” The IMF’s report says there is “extraordinary uncertainty” in the air, and the international financial institution believes “economic consequences are already very serious.” IMF’s Economic Outlook Amid Ongoing War in Europe Predicts Inflationary Pressures, Supply Chain Disruptions, and Price Shocks With a crisis happening in the world, many analysts and economists are concerned about the global economy and the aftermath of the warfare taking place in Ukraine. Additionally,…

[ad_1] The chief executives of two major cryptocurrency exchanges, Binance and Coinbase, do not believe that cryptocurrency is an effective tool to help Russia evade Western sanctions. CEOs of Binance and Coinbase Say Crypto Not Useful at Evading Sanctions Since Russia began its invasion of Ukraine, governments worldwide have raised concerns that cryptocurrency could be used to circumvent sanctions placed by Western nations. The CEOs of two leading cryptocurrency exchanges have shared their thoughts on whether crypto can be an effective tool to circumvent sanctions. Binance CEO Changpeng Zhao (CZ) was quoted by the Guardian as saying: Currently, the media…

[ad_1] A finance professor at the Wharton School of the University of Pennsylvania has warned of “bitcoin taking over.” He added that the Fed “has been terribly wrong over the last year” about inflation and must now act to defend the U.S. dollar. Finance Professor Urges the Fed to Take Action to Defend the U.S. Dollar Wharton’s finance professor Jeremy Siegel shared his view on inflation, “bitcoin taking over,” and the need for the Federal Reserve to defend the U.S. dollar in an interview with CNBC Friday. Siegel is Russell E. Palmer Professor Emeritus of Finance at Wharton School, University…

[ad_1] The founder of Skybridge Capital has doubled down on his $100K bitcoin price prediction. He also believes that bitcoin could reach $500K a coin in the long run. “But we’ve got some work to do here from a regulatory perspective,” he stressed. The executive also advised how an average investor should get into bitcoin. Skybridge Capital’s Founder on Bitcoin Price The founder of investment management firm Skybridge Capital, Anthony Scaramucci, talked about the future outlook for bitcoin Friday in an interview with Melissa Francis on Magnifi by TIFIN. Scaramucci expected the price of BTC to reach $100,000 by the…

[ad_1] The Ukrainian government announces that $50 million in cryptocurrency was raised within a week since Russia began its invasion of Ukraine. The government has so far spent $15 million in donated cryptocurrency to buy military supplies. Ukraine Government Spends $15 Million in Crypto on Military Supplies Alex Bornyakov, Ukraine’s deputy minister of digital transformation, revealed Friday that his government has spent $15 million in donated cryptocurrency on military supplies, including bulletproof vests, Bloomberg reported. In a Zoom interview from an undisclosed location in Ukraine, he confirmed that the purchased military gear was delivered Friday. Many people have donated cryptocurrency…