Tag: Sanctions

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Venezuela Files Complaint With WTO Regarding US Sanctions Targeting Petro

On Jan. 8, the World Trade Organization (WTO) published a dispute settlement request that was filed by the Bolivarian Republic of Venezuela with regards to executive orders and sanctions maintained by the United States that target Venezuela and the nation’s cryptocurrency, the petro. The document was filed with the WTO on Dec. 28. Also Read: Malaysia […]

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January 15, 2019 0

Hit by Sanctions, Iranian Students in the UK Use Bitcoin to Bypass Banks

Before cryptocurrencies started to be widely used for speculation, they were first of all meant to be an unstoppable method for people to control their own money. A new example that this is still a needed use case comes from the U.K., where Iranian students have to bypass the banking system which they can no […]

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December 17, 2018 0

Venezuelans Remain Skeptical After President Maduro Raises Petro’s Value

Venezuela Orders Government Services to Accept Any CryptocurrencyVenezuelan President Nicolas Maduro’s move to increase the price of the petro, the country’s oil-backed cryptocurrency, has sparked intense debate. Experts and tech-savvy Venezuelans alike are less than enthusiastic about the decision. Also read: Maduro Orders Price of Venezuela’s ‘Cryptocurrency’ to More Than Double Venezuelans Unimpressed by Proclamation Venezuelans blasted Maduro and his new cryptocurrency after […]

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December 6, 2018 0

Russian Developers to Help Iran Build Its Crypto-Economy

Russian Developers to Help Iran Build Its Crypto-EconomyExperts from Russia will provide support for the development of Iran’s crypto-economy. The cooperation is part of an agreement reached by representatives of leading industry organizations from the two countries, both subjected to western sanctions.   Also read: Vietnam at Crossroads on Cryptocurrency Regulations Crypto Associations Sign Cooperation Agreement The document has been signed by […]

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November 15, 2018 0

Iran Completes Development of Rial-Supported National Cryptocurrency

Iran Completes Development of Rial-Supported National CryptocurrencyIran has finalized the development of its national cryptocurrency, which is backed by the local fiat unit, the rial. Once the Central Bank of Iran (CBI) approves its use, the yet-to-be-named digital currency will then be issued to banking institutions for testing in payments, internal and interbank settlements according to local media reports. Also Read: Bahamas […]

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November 11, 2018 0

Fincen Claims Iran Is Using Crypto to Evade Sanctions

ranian Bitcoin Transactions Estimated at $3.8M Since 2013The Financial Crimes Enforcement Network has warned U.S financial institutions that the Iranian government might be dodging economic sanctions by using cryptocurrencies. The document highlights challenges arising from peer-to-peer virtual currency exchanges and encourages banks to monitor blockchain ledgers for transactions tied to the country. Also Read: Church Mining Cryptocurrency to Pay Higher Electricity Rates Iranian […]

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October 15, 2018 0

Bitcoin Hits $24,000 In Iran After Government Okays Mining

Bitcoin Hits $24,000 In Iran After Government Okays MiningThe world’s most expensive bitcoin core (BTC) price is in Iran. A combination of high foreign currency demand, economic sanctions and an improved regulatory environment – with some speculation – have sent the price of the leading digital currency skywards. How high can it go? Also Read: Iran Officially Recognizes Cryptocurrency Mining Falling Rial, New Policy […]

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September 6, 2018 0

Trump vs Erdoğan: Bitcoin Is the Answer to Turkey’s Financial Chaos

Trump, Erdoğan Battle: Turkey in Financial Chaos, Bitcoin’s AnswerLatest reporting out of Washington appear to signal no deal struck between the Trump administration and the government of Turkey under President Recep Tayyip Erdoğan, potentially deepening an already fragile financial situation. Turkey’s lira has crashed double digits in recent months, and further as tensions between the two countries, over an American pastor’s jailing, continue […]

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August 21, 2018 0

Why Venezuela’s New National Cryptocurrency El Petro Will Fail

Why Venezuela’s New National Cryptocurrency El Petro Will FailWashington and legacy media are in a tizzy about Venezuela reportedly thwarting international sanctions by way of a dreaded state-backed cryptocurrency. A closer look reveals several stumbling blocks for the Bolivarian Republic: nonexistent reserves, hyperinflation, centralization, and the impossibility of actual redemption. The attempt will fail, if it’s ever rolled out, adding woes to a region […]

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January 28, 2018 0

New Research: Laundering of Illicit Funds Less than 1% of Bitcoin Transactions

Research Concludes that Laundering of Illicit Funds Constitutes Less than 1% of Bitcoin TransactionsThe Foundation for Defense of Democracies’ Center of Sanctions and Illicit Finance in conjunction with blockchain analytics company, Elliptic, has published a study seeking to track the circulations of illicit funds within the bitcoin economy from 2013 to 2016. The research concludes that the share of funds of illicit origin comprises less than one percent […]

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January 20, 2018 0