sanctions | ForkLog

ForkLog 25 27.11.2024

US Court Deems Sanctions Against Tornado Cash Unlawful

The US Fifth Circuit Court of Appeals has ruled that the OFAC overstepped its authority in imposing sanctions on the cryptocurrency mixer Tornado Cash, as reported by The Block. The previous district court decision has been overturned. “Immutable smart contracts of Tornado Cash (lines of code ensuring privacy) do not constitute ‘property’ of a foreign […]

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ForkLog 218 22.10.2024

Report: Iranian Exchanges Linked to Government and Sanctions Evasion

Most Iranian centralized cryptocurrency exchanges are linked to the government and participate in the country’s evasion of sanctions, according to OSINT researcher Maria Noor. Current status of Iran’s local cryptocurrency Exchanges: Tens of Millions of Users and Severe US Sanctions By @MARIANOOR_BTC Nobitex, Excoino, Wallex, and Bit Pin are four major CEXs in Iran. 15 […]

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ForkLog 25 16.10.2024

Ukrainian Central Bank Dismisses Cryptocurrency as Legal Tender

The National Bank of Ukraine does not recognize cryptocurrency as legal tender and asserts that the digital asset market requires legislative regulation. This was stated by the head of the regulator, Andriy Pyshnyy, in an interview with Interfax-Ukraine. Following the imposition of restrictions on P2P transfers, capped at 150,000 UAH per month, experts noted a […]

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ForkLog 29 26.09.2024

US Sanctions Target Bitcoin Exchange PM2BTC and Cryptex Platform

On September 26, OFAC added the cryptocurrency exchange PM2BTC, the Cryptex platform, and their alleged administrator, Russian citizen Sergey Ivanov, to its sanctions list. According to the agency, both services are linked to money laundering activities involving ransomware operators and other cybercriminals. The FinCEN determined that nearly half of the transactions processed by PM2BTC were […]

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ForkLog 21 26.09.2024

Binance Continues Limited Service for Russian Users

A year after announcing a complete withdrawal from Russia, the cryptocurrency exchange Binance continues to serve a “limited number of existing Russian users.” This was reported by Cointelegraph, citing a statement from a representative of the trading platform. According to the representative, Binance “adheres to global sanctions regulations” and “fully complies with restrictions on individuals, […]

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ForkLog 38 06.09.2024

Chainalysis: Russia’s Crypto Laws Aimed at Sanctions Evasion

In a new report, analysts at Chainalysis highlighted the adoption of “significant” laws in Russia that legalise mining and the use of cryptocurrencies for international payments. The company noted that the new direction represents a “significant departure” from the government’s previous stance, when in 2022 the Central Bank of Russia advocated for a complete ban […]

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ForkLog 11 05.09.2024

Kyiv Residents Suspected of Illegal Cryptocurrency Exchange

The Kyiv City Prosecutor’s Office announced suspicions against two organizers of an online cryptocurrency exchange operating with payment systems unregistered in Ukraine. According to the investigation, the 23-year-old individuals have been exchanging hryvnia for various cryptocurrencies and electronic money from sanctioned services since 2024, including those located in Russia. The transactions were conducted using bank […]

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ForkLog 23 27.08.2024

Ukraine’s Central Bank Sets Limits on P2P Transactions

Starting October 1, the National Bank of Ukraine will impose restrictions on outgoing P2P transfers between individuals for a six-month period. The limit is set at 150,000 hryvnias per month and applies to all accounts held by a client within a single bank. The restrictions do not apply to volunteers meeting the regulator’s criteria or […]

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ForkLog 33 13.08.2024

Ukraine’s P2P Transaction Limits Threaten Crypto Market, Say Experts

Ukraine’s National Bank aims to finalise a draft decision on limiting the number of P2P transactions for individuals by the end of the week. This was stated by the head of the regulator, Andriy Pyshny, in an interview with Ekonomichna Pravda. The document will introduce limits on card-to-card transfers between individuals. It is expected that […]

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ForkLog 33 09.08.2024

OKX Faces Compliance Challenges in Russia Amid Regulatory Pressures

Star Xu, CEO of the cryptocurrency exchange OKX, is wary of following in the footsteps of former Binance chief Changpeng Zhao, making strict compliance a priority for the platform. This was stated by Blum co-founder Gleb Kostarev. Citing reliable sources within OKX, he noted that a large team is dedicated to compliance issues. Despite the […]

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ForkLog 26 09.08.2024

OKX Denies Targeted Account Restrictions for CIS Clients

On August 8, the author of the Telegram channel “Tears of Satoshi,” Rafael Manvelyan, claimed that his account on the cryptocurrency exchange OKX was blocked, attributing this to a sudden policy shift by the platform towards users from the CIS. In response, the company’s CEO, Star Xu, cited client violations. According to Manvelyan, he had […]

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ForkLog 23 30.07.2024

Russia’s Central Bank Sets Date for Cryptocurrency Experiments

30 July 2024 | 17:17Update: On 30 July, the Russian State Duma passed a bill in its second and third readings establishing an experimental legal regime (ELR) that permits the use of cryptocurrencies in foreign trade. This was announced by Deputy Anton Gorelkin. From 1 September, the document grants the Bank of Russia the authority […]

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