Ban

The Blockchain Integrity Act bans financial services from processing transactions from coin mixers and stipulates a $100,000 civil penalty for offenders. The bill proposes the ban to last two years, during which the Department of the Treasury would compile a report on the sector to inform further actions. A new bill introduced at the US House of Representatives seeks to ban cryptocurrency mixers for two years, cutting them off from all registered virtual asset service providers (VASPs) for two years.…

Amid rising geopolitical tensions and sanctions, Russia is reportedly preparing to enact a strict ban on the widespread trading of cryptocurrency assets like Bitcoin, allowing only digital financial assets to be issued within its own jurisdiction. This move is part of a broader government effort to regulate the cryptocurrency ecosystem. Only miners and projects approved by the Central Bank will be granted the right to operate. However, a lawmaker has clarified that establishing crypto exchanges and over-the-counter (OTC) services outside the…

Russia bans the general circulation of cryptocurrency to boost ruble dominance and control the crypto market, with exemptions for miners and Central Bank projects. Debate has erupted over the necessity of regulation in Russia’s crypto ban; some call for clear laws, while others, like Finance Minister Anton Siluanov, prefer a moderate approach. Russia has announced a sweeping ban on the general circulation of cryptocurrency assets, aiming to bolster the ruble’s dominance and assert control over the crypto ecosystem. Anatoly Aksakov,…

The post Why Russia Imposed Ban On Cryptocurrencies? appeared first on Coinpedia Fintech News From September 1, 2024, Russia will impose strict restrictions on cryptocurrency circulation. However, this restriction excludes assets issued within its jurisdiction. Anatoly Aksakov’s move aims to strengthen the Russian ruble’s dominance amidst geopolitical tensions. Aksakov has highlighted the need to maintain the status of the ruble as the primary monetary unit. Non-Russian crypto operations will be restricted to ensure this. However, exceptions will be made for…

Russia is preparing to enforce a total ban on the circulation of crypto assets like Bitcoin as it looks to reinforce the ruble amid rising geopolitical tensions and crippling sanctions.  Instead, Russia will allow only digital financial assets issued within its jurisdiction.  Russia Looks To Enforce Crypto Ban  Anatoly Aksakov, the Chairman of the State Duma Committee on the Financial Market, is leading the initiative. The committee is part of a larger effort by the Russian government to control the…

Angola has formally outlawed all crypto mining activities, a move communicated by the Chinese Embassy in Angola to its nationals. Earlier this year, the Angolan parliament passed legislation criminalizing cryptocurrency mining and related virtual assets to safeguard its national energy security. The ban, effective on April 10, prompted the Chinese embassy to warn its nationals against violating the law. Angola Bans Crypto Mining Over the years, Chinese Bitcoin miners have sought new operational bases due to China’s crypto ban. This…

Investors in mainland China might miss out on the opportunity to engage with Hong Kong’s newly approved Bitcoin and Ethereum Exchange-Traded Funds (ETFs). According to experts, due to stringent domestic regulations, Chinese nationals will likely be barred from participating. Is the Impact of Hong Kong Bitcoin and Ethereum ETFs Overstated? The prohibition is not surprising, given China’s restrictive stance on cryptocurrencies. Since the 2021 ban on trading and mining cryptocurrencies, Chinese traders have faced significant hurdles in accessing global crypto…

Binance, the world’s largest cryptocurrency exchange by trading volume, is facing a ban in the Philippines after the country’s financial regulator flagged concerns regarding the firm’s unlicensed operations.  In November, the Philippines Securities and Exchange Commission warned Binance that it was operating in the country without obtaining the necessary licenses.  Binance Facing Philippines Ban  The Philippines Securities and Exchange Commission announced the decision in a notice published on Monday. According to the notice, the country’s regulator stated that it received…

A banking ban by the Reserve Bank of India (RBI) on crypto in India has finally been lifted by the country's Supreme Court. The Supreme Court ruled this RBI decision to ban crypto in an ongoing case as unconstitutional. The Court concluded its hearing on the case on the 28th of January 2020, after more than a year of hearing proceedings. An extensive hearing of the arguments by the counsel for the Internet and Mobile Association of India, Ashim Sood…