Thailand distributing digital money to 45M citizens to boost economy

The controversial plan began as a campaign promise and will help lower-income Thais buy more.

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Nvidia launches in Middle East amid US AI export clampdown: Report

Nvidia partners with Qatari telecom provider Ooredoo to bring advanced AI technology to the Middle East, marking a significant expansion amid U.S. export restrictions.

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GameStop Stocks Restricted on NYSE After Short Volume Surges 234%

The trading frenzy surrounding GameStop continues as stocks face restrictions and short selling volume on the NYSE skyrockets. Amidst the GameStop saga, brokerage platforms like Robinhood have imposed limitations on buying certain stocks, including GameStop, AMC, and others popular among retail investors. These restrictions have sparked outrage among traders and even led to several class-action [...]

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Controversial ‘Tiktok Ban Bill’ Sparks Concerns Among Cryptocurrency and Technology Advocates

Cryptocurrency and technology proponents have recently been discussing a new bipartisan bill called the “Restricting the Emergence of Security Threats that Risk Information and Communications Technology (RESTRICT)” Act. In addition to targeting firms such as Kaspersky, Huawei, and Tiktok, opponents of the bill believe one of its provisions will punish ordinary Americans for leveraging a [...]

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Binance Reportedly Removes Restrictions on Russian Users

The world’s largest crypto exchange, Binance, has lifted certain restrictions on Russian users, local crypto media unveiled. According to multiple reports, Russians can once again use their bank cards to make deposits and the trading platform has canceled a limit on their balances which was introduced in compliance with European sanctions. Russian Cards, Including Visa

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Putin Wants Limit on Currency Purchases for Russians Dealing With Foreigners

Russian citizens and firms doing business abroad may soon be restricted in the amount of foreign currency they are allowed to acquire, on order from Vladimir Putin. Russia’s head of state now wants his government to cap such purchases on the domestic forex market. President Putin Orders Russian Authorities to Limit Foreign Currency Purchases Russian [...]

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US proposes new bail conditions for former FTX CEO

The US Department of Justice has proposed new bail conditions for former FTX CEO Sam Bankman-Fried, which include communication restrictions and monitoring of his online activity. The proposal also requests that temporary bail conditions recently imposed should be made permanent. Bankman-Fried's $250 million bail has been under scrutiny since he was found to have contacted potential witnesses on his case, and a superseding indictment against him was unsealed containing 12 criminal counts. (Read More)

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Asking the ChatGPT AI to Predict the Future Price of Bitcoin

It seems that Artificial Intelligence (AI) is the hot topic all over the place now with ChatGPT by OpenAI being one of the most widely used tool at the moment and people are asking the AI chatbot all kinds of questions, including a lot of crypto related ones. So, why not ask what the artificial […]

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Manitoba Halts New Crypto Mining Projects Due to Expected High Energy Demand

Authorities in Manitoba are temporarily suspending the connection of new crypto mining facilities to the power grid. The Canadian province, which relies heavily on hydroelectric generation and attracts miners with low electricity rates, fears it may face overwhelming energy demand. Manitoba Suspends New Crypto Mining Operations Citing Possible Increase in Electricity Usage The government of

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Putin Calls for International Settlements Based on Blockchain and Digital Currencies

Russian President Vladimir Putin believes a new system for international money transfers is needed to reduce dependence on big banks and third parties. He is convinced that cross-border payments relying on digital currency and distributed ledger technology will be “much more convenient.” Russia’s Head of State Urges for Blockchain-Powered International Payments President of Russia Vladimir

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Dapper Labs Restricts Russian-based NFT Accounts, Abides by EU Sanctions

Dapper Labs said it is complying with new sanctions approved by EU member states amid Russia’s continued escalating conflicts in Ukraine. (Read More)

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Russians turn to crypto to evade restrictions

Bitcoin (BTC/USD) is trading just above the $20k mark after another sell-off. This latest dip follows a broader market reaction to Federal Reserve Chairman Jerome Powell’s monetary policy remarks at Friday’s Jackson Hole economic forum. While anticipated, Powell’s confirmation at the symposium that the central bank would stick to its hawkish approach to inflation, plunged risk-on sentiment and saw Wall Street and crypto prices fall sharply.

With BTC at around $20,250 and as markets continue to digest the Fed Chair’s remarks, it remains to be seen if Bitcoin can keep the psychological support zone. If that breaks, more pain could involve a retest of mid-June price levels.

Even as crypto struggles through the bear market, adoption in Russia is picking momentum. It’s an observation from the perspective of more people turning to cryptocurrencies to try evade biting restrictions on foreign exchange. Indeed, a recent survey revealed that nearly a third of respondents said they were planning to buy crypto over the next six months.

Marcus Sotiriou, an analyst at UK-based digital assets firm GlobalBlock, says that crypto adoption in Russia is largely being catalysed by the currency restrictions imposed by Russian authorities.

The restrictions, enforced since early 2022 following Vladmir Putin’s invasion of Ukraine that attracted western sanctions, have hurt the ruble. And it’s these restrictions that are pushing more people towards crypto, he added in comments shared with CoinJournal via email.

This is “despite there being no legal way to buy or sell cryptocurrencies in Russia right now,” he noted, commenting on how difficult it is for those looking to use crypto to circumvent the restrictions.

However, while that is the case for many users, platforms that offer over-the-counter (OTC) crypto exchange services are reportedly providing an easy way to buy crypto with the local currency.

The assets are then liquidated for foreign currency in countries like the United Arab Emirates (UAE) and Georgia.

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Ontario crypto exchanges impose $30K CAD annual limit on altcoin buys

The new buy limits are intended to better “protect crypto investors” and make them “more aware of the risks” associated with crypto assets, according to one of the exchanges.

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Nigeria upgrades CBDC as crypto restrictions cripple fintech industry

Nigeria’s central bank has upgraded its eNaira to steer the country away from crypto even after a UN report stated that restrictions on digital currencies are stifling the nation's fintech sector.

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Myanmar looks to restrict VPN, crypto usage in new bill

On January 23, the Myanmar military proposed a bill that would outlaw the use of Virtual Private Networks(VPNs) and cryptocurrencies within its borders, multiple media outlets reported Monday. According to the legislation submitted, VPN users would be subjected to one and three years of imprisonment and a fine of up to 5 million Myanmar kyats. […]

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Russian Top Digital Bank Tinkoff Explores Crypto Investment Services

Despite Russia’s Central Bank imposed ban and restrictions on cryptocurrency usage in the country, Tinkoff bank is examining potential cryptocurrency investments services to offer to its clients. (Read More)

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Dollar Dominance Fading Amid Growing China Trade, Russia Sanctions Risks, Ray Dalio Says

Fewer nations are willing to hold the U.S. dollar as America’s share in the global economy becomes smaller while China’s role in international trade expands, billionaire Ray Dalio noted. The founder of the world’s largest hedge fund also said that Western sanctions on Russia have highlighted new risks of keeping dollar assets. ‘Dollar Is Debt,’ [...]

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Blockchain to Become More Relevant in Payments This Year, Sberbank Exec Says

Blockchain technology can help solve current issues with settlements, according to the deputy chief executive of Sberbank. Russia’s largest bank is working with other financial institutions to develop blockchain-based payment applications, the banker revealed. Sberbank Sees Solution to Russia’s Troubles With Settlements in Blockchain With major Russian banks disconnected from the main global interbank payment [...]

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Moscow City Crypto Exchanges Ready to Send Cash to London, Report

An investigation into digital asset exchanges in the Russian capital has established that some of them are ready to buy digital coins and deliver paper money in the U.K. The transfer of funds does not usually involve the identification of the clients, Transparency International Russia reveals in a report. Russia-based Cryptocurrency Exchanges Swap Stablecoins for [...]

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Report: US Government Auctions Off Failed Banks SVB and SNBY, Crypto Restrictions Apply

The U.S. government and the Federal Deposit Insurance Corporation (FDIC) are auctioning off two failed American financial institutions, Silicon Valley Bank (SVB) and Signature Bank (SNBY), this week, with bids due by March 17. However, sources familiar with the matter said the qualifications to purchase the banks are stringent, and reportedly, the purchasers cannot deal [...]

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