Cryptocurrency Analysis and News Portal
United States Treasury Secretary Janet Yellen told the House Financial Services Committee on Wednesday that her department is not seeing significant use of cryptocurrencies to evade sanctions placed on Russian oligarchs and government agencies. Yellen was asked repeatedly about digital asset security at the committee’s annual hearing on the state of the
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The leader in news and information on cryptocurrency, digital assets and the future of money, CryptoX is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CryptoX is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies
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The United States Department of the Treasury’s Office of Foreign Assets Control has announced it will impose sanctions on darknet market Hydra and virtual currency exchange Garantex.In a Tuesday announcement, the Treasury Department said it had worked with the Department of Justice, the Federal Bureau of Investigations, the Drug Enforcement
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With sanctions cutting off Russia from global finances, Moscow’s motivation to establish a domestic market infrastructure for digital assets grows, a top official at the Russian finance ministry has noted. The comment comes as Russians are losing access to foreign crypto platforms. Russia Recognizes Need for Local Crypto Assets Market Amid
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In her monthly Expert Take column, Selva Ozelli, an international tax attorney and CPA, covers the intersection between emerging technologies and sustainability, and provides the latest developments around taxes, AML/CFT regulations and legal issues affecting crypto and blockchain.According to the United Nations High Commissioner for Refugees, also known as the
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Authorities in Japan are planning to introduce tougher new rules for crypto operators as part of efforts to prevent Russia from using cryptocurrencies to evade sanctions. The legislative initiative comes after Tokyo asked digital asset exchanges to strengthen transactions monitoring this month. Government of Japan to Close Loopholes for Russians
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A top International Monetary Fund official called for international regulation of digital finance, predicting "the adoption of digital finance, from cryptocurrencies to stablecoins and central bank digital currencies" following the unprecedented sanctions on Russia after its invasion of Ukraine. Original Source
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Japan will propose a revision of its foreign exchange law to parliament, said a government official. Source
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Japan plans to amend its Foreign Exchange and Foreign Trade Act to bring crypto exchanges under the purview of laws that govern banks, a government official revealed on Monday. The proposed amendment is being carried out to prevent sanctioned countries from taking evasive actions using digital assets.Chief Cabinet Secretary Hirokazu
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The President of the European Central Bank, Christine Lagarde has reiterated warnings that Russian individuals and businesses are using cryptocurrencies to skirt sanctions.However, as of March 18, daily ruble-denominated crypto trading volume was sitting at just $7.4 million, down over 50% from recent figures and a peak of $70 million
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