Ukraine

During a statement at the World Economic Forum in Davos, Switzerland, Ukrainian vice prime minister Mykhailo Fedorov expressed his hopes for the nation’s crypto sector. Fedorov is confident Ukraine could soon lead other countries in effective crypto jurisdiction. Although still in the pilot phase, Fedorov intends to be the first to test the country’s forthcoming CBDC, the e-hryvnia. Fedorov Acknowledges Ukraine’s Wartime Fundraise  As of June last year, Ukraine had netted more than $500 million in donations. Crypto funds made…

Ukraine has sold the non-fungible token (NFT) it received as a donation in March. Alex Bornyakov, Ukraine’s Deputy Minister of Digital Transformation, announced via Twitter yesterday. According to him, Ukraine sold CryptoPunk #5364 to an anonymous buyer for 90 Ethereum (ETH), worth just over $100,000. Bornyakov’s tweet read, Breaking news on crypto donations: #CryptoPunk #5364 has been sold for 90 ETH. It's over $100K. Few months ago this NFT was donated for @_AidForUkraine fund. Crypto community continues to support Ukraine.…

Get the weekly summary of crypto market analysis, news, and forecasts! This Week’s Summary The Crypto Market ends the week at a total market capitalization of $1,861 trillion. Bitcoin is up by roughly 6% after a good week. Ethereum increased by almost 11% during the past seven days. XRP gained almost 3% in value in the past week. Almost all altcoins are trading in the green and still enjoying a favorable period. The DeFi sector added roughly $5 billion to…

According to a release from Ukraine’s Ministry of Digital Transformation, President Zelenskyy signed off on a law legalizing the country’s crypto sector. Overseeing the New Regulation In view of the crypto donations pouring into the nation late, Ukraine’s “On Virtual Assets” law could not have come at a more opportune time. The nation has received about 100 million USD worth of cryptocurrency since Russia’s invasion in February. The newly signed bill elevates crypto to a legal asset class while endorsing…

Ukraine is buying military supplies from weapon vendors accepting crypto as a means of payment.  Reports from a Ukrainian Senior officer reveal that several weapon dealers are willing to trade weapons in exchange for crypto.  Ukraine Buys Supplies with Crypto Donations Ukraine started a fundraiser in crypto to seek worldwide financial assistance, given the crises of Russia's invasion during February ending. The global community turned up in numbers to support the Russian neighbors and donations obtained from this end accumulated…

Following its invasion of Ukraine, sanctions on Russia are becoming more and more devastating. Recently, payment providers decided to block money from coming in and out of the country.  The pressure is mounting on crypto companies as well. Last weekend, payment processing giants Visa and MasterCard joined PayPal in suspending cross-border payments for their Russian clients. The decisions are set to comply with sanctions of NATO and other western countries, where these companies have their headquarters in. The largest credit-card…

Some of the largest crypto exchanges in South Korea have barred Russian users from accessing their services. These bans extend beyond sanctioned individuals and blacklists all Russian IP addresses as well.  IPs Blocked Amid Evasion Concerns According to a local report, most South Korean major exchanges have blacklisted their Russian customers from using their services. This comes after Ukrainian Vice Prime Minister Mykhailo Fedorov called on all cryptocurrency exchanges to block Russian users from accessing their platforms. And of course,…

The United States Department of Justice (DOJ) has recently launched the KleptoCapture task force. The task force's aim is to enforce sanctions imposed on Russia for its invasion of neighboring country Ukraine. Of late, there have been talks that Russia might turn to crypto to circumvent its sanctions. The DOJ’s establishment of KleptoKapture is a move to nip this in the bud. Efforts to Mitigate Attack on Ukraine In a press statement released on Tuesday, 2nd March, Deputy Attorney General…

Bitcoin and gold are the leading indicators of how their respective markets handle a crisis. Currently, these two assets are feeling the full effect of the Russia-Ukraine conflict, which has severely impacted financial markets worldwide. However, their performances have been quite the opposite so far. As the stocks markets came crashing down, Bitcoin and gold battled to become the better inflation hedge. Since the armed conflict is far from over, we cannot establish a winner. However, we can use the…