There have been attempts to stop the purchase of cryptocurrencies in local currency. On Thursday, the National Bank of Ukraine conducts this procedure.
Individuals can pay with foreign currency. This is when it comes to buying assets in quasi-cash transactions. This is according to the guidelines provided. Purchasing virtual assets and other similar items is an example of a quasi-cash transaction.
Binance recovered the stolen funds of Axie Infinity. This is according to CoinDesk on Friday, which reported on the matter.
Compromised accounts were more than 86 accounts. This is according to Binance CEO Changpeng Zhao. Also, the exchange was able to recover about $5.8 million of that total. Estimates put the value of the crypto sector at several billion dollars. However, sanctions imposed on Russia because of its involvement in the Ukraine conflict could harm that value.
BitRiver was the name of a Russian bitcoin mining company. Since then, the U.S. has been trying to get rid of it. As it imposes more sanctions on Russia for its involvement in the conflict. In order to prevent BitRiver and its many subsidiaries from accessing. The U.S. crypto exchanges or mining equipment, the sanctions are purportedly in place.
Binance reportedly refuted reports that it assisted Russian authorities in tracking donations to opposition groups on Friday.
Binance’s Laundering Agency
Binance shared customer data, allegedly. This is with unaffiliated third parties. Reportedly, with Russia’s anti-money laundering agency. Also, it is according to a Reuters investigation that alleges the company was cultivating relationships with Russian government authorities. Additionally, there are no suggestions that Binance shared any user data. Involved in this are Russia’s Federal Security Service (FSB) and Russian regulators.
It has also announced plans to invest up to $100 million in commercial loans. Their target are small, publicly quoted companies backed by bitcoin. BitNile’s subsidiary, Digital Power Lending, will be responsible for this, according to a news release. This year, BitNile apparently wants to considerably increase its mining capacity.
On the other hand, Britannia Financial Group has acquired crypto trading tech business Alphaplate, the companies said on Thursday.
Britannia’s customers can expect access to digital asset services. This happened as a result of this acquisition.
CoinDesk reported Friday that US government officials had also imposed sanctions on North Korean crypto wallets. Additionally, the Treasury Department’s Office of Foreign Asset Control added three Ethereum addresses to its Sanctions list. Bringing the total number of addresses linked to the Axie Infinity hack to six.
Finally, according to Block Crypto, Crypto.com has given a four-year grant to the Digital Currency Initiative (DCI). It happened at the Media Lab of the Massachusetts Institute of Technology.
Research on Bitcoin security is expected to use the grant. Additionally, are the open-source development of the protocols that underlie the network.