\n
Coinbase CEO, Brian Armstrong claimed it is \u201cconcerning to see stuff like this happening in any country, especially such an economically free place like Canada.\u201d<\/p>\n\n\n\n
Coinbase CEO, Brian Armstrong claimed it is \u201cconcerning to see stuff like this happening in any country, especially such an economically free place like Canada.\u201d<\/p>\n\n\n\n
Cryptocurrency is decentralized by nature, it has gained traction was to prevent things like this from happening. So far, it has held up against the legal system.<\/p>\n\n\n\n
Coinbase CEO, Brian Armstrong claimed it is \u201cconcerning to see stuff like this happening in any country, especially such an economically free place like Canada.\u201d<\/p>\n\n\n\n
After GoFundMe decided to not distribute $9 million raised<\/a> in support for the truckers, crypto quickly became the main way to donate to the cause. <\/p>\n","post_title":"Canadian Courts Demand To Freeze Funds Rejected By Crypto Wallet","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"canadian-courts-demand-to-freeze-funds-rejected-by-crypto-wallet","to_ping":"","pinged":"","post_modified":"2022-02-23 18:44:58","post_modified_gmt":"2022-02-23 07:44:58","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3561","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
Cryptocurrency is decentralized by nature, it has gained traction was to prevent things like this from happening. So far, it has held up against the legal system.<\/p>\n\n\n\n Coinbase CEO, Brian Armstrong claimed it is \u201cconcerning to see stuff like this happening in any country, especially such an economically free place like Canada.\u201d<\/p>\n\n\n\n After GoFundMe decided to not distribute $9 million raised<\/a> in support for the truckers, crypto quickly became the main way to donate to the cause. <\/p>\n","post_title":"Canadian Courts Demand To Freeze Funds Rejected By Crypto Wallet","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"canadian-courts-demand-to-freeze-funds-rejected-by-crypto-wallet","to_ping":"","pinged":"","post_modified":"2022-02-23 18:44:58","post_modified_gmt":"2022-02-23 07:44:58","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3561","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
Nunchuck's official response reads that it is a \u201cself-custodial, collaborative multi-sig Bitcoin wallet\u201d and that it's a \u201csoftware provider, not a custodial financial intermediary.\u201d<\/p>\n\n\n\n Ontario Superior Court of Justice sent\u00a0Nunchuk<\/a>\u00a0a self-custodial\u00a0Bitcoin wallet\u00a0a\u00a0Mareva Injunction<\/a>, ordering it to freeze and disclose information about the assets involved in the Freedom Convoy 2022 campaign in an effort to derail the funds being sent in support of the truckers protesting Covid-19 restrictions.<\/p>\n\n\n\n Nunchuck's official response reads that it is a \u201cself-custodial, collaborative multi-sig Bitcoin wallet\u201d and that it's a \u201csoftware provider, not a custodial financial intermediary.\u201d<\/p>\n\n\n\n <\/p>\n","post_title":"Will Russian Banks Blocked From SWIFT Turn To Crypto?","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"will-russian-banks-blocked-from-swift-turn-to-crypto","to_ping":"","pinged":"","post_modified":"2023-04-11 00:21:58","post_modified_gmt":"2023-04-10 14:21:58","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3627","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3561,"post_author":"1","post_date":"2022-02-23 18:44:52","post_date_gmt":"2022-02-23 07:44:52","post_content":"\n Ontario Superior Court of Justice sent\u00a0Nunchuk<\/a>\u00a0a self-custodial\u00a0Bitcoin wallet\u00a0a\u00a0Mareva Injunction<\/a>, ordering it to freeze and disclose information about the assets involved in the Freedom Convoy 2022 campaign in an effort to derail the funds being sent in support of the truckers protesting Covid-19 restrictions.<\/p>\n\n\n\n Nunchuck's official response reads that it is a \u201cself-custodial, collaborative multi-sig Bitcoin wallet\u201d and that it's a \u201csoftware provider, not a custodial financial intermediary.\u201d<\/p>\n\n\n\n Chainalysis<\/a> is a company that tracks cross-border criminal activities on blockchains. So far, no unusual activities have been detected within Russia or Ukraine. Head of international policy, Caroline Malcome states that \u201cany information on relevant wallet addresses will be added to our products and available to our partners immediately,\u201d<\/p>\n\n\n\n <\/p>\n","post_title":"Will Russian Banks Blocked From SWIFT Turn To Crypto?","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"will-russian-banks-blocked-from-swift-turn-to-crypto","to_ping":"","pinged":"","post_modified":"2023-04-11 00:21:58","post_modified_gmt":"2023-04-10 14:21:58","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3627","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3561,"post_author":"1","post_date":"2022-02-23 18:44:52","post_date_gmt":"2022-02-23 07:44:52","post_content":"\n Ontario Superior Court of Justice sent\u00a0Nunchuk<\/a>\u00a0a self-custodial\u00a0Bitcoin wallet\u00a0a\u00a0Mareva Injunction<\/a>, ordering it to freeze and disclose information about the assets involved in the Freedom Convoy 2022 campaign in an effort to derail the funds being sent in support of the truckers protesting Covid-19 restrictions.<\/p>\n\n\n\n Nunchuck's official response reads that it is a \u201cself-custodial, collaborative multi-sig Bitcoin wallet\u201d and that it's a \u201csoftware provider, not a custodial financial intermediary.\u201d<\/p>\n\n\n\n There are also measures in place that allow for entities to identify where transactions come from. Making it much harder for sanctioned nations to move around useful sums of money. <\/p>\n\n\n\n Chainalysis<\/a> is a company that tracks cross-border criminal activities on blockchains. So far, no unusual activities have been detected within Russia or Ukraine. Head of international policy, Caroline Malcome states that \u201cany information on relevant wallet addresses will be added to our products and available to our partners immediately,\u201d<\/p>\n\n\n\n <\/p>\n","post_title":"Will Russian Banks Blocked From SWIFT Turn To Crypto?","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"will-russian-banks-blocked-from-swift-turn-to-crypto","to_ping":"","pinged":"","post_modified":"2023-04-11 00:21:58","post_modified_gmt":"2023-04-10 14:21:58","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3627","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3561,"post_author":"1","post_date":"2022-02-23 18:44:52","post_date_gmt":"2022-02-23 07:44:52","post_content":"\n Ontario Superior Court of Justice sent\u00a0Nunchuk<\/a>\u00a0a self-custodial\u00a0Bitcoin wallet\u00a0a\u00a0Mareva Injunction<\/a>, ordering it to freeze and disclose information about the assets involved in the Freedom Convoy 2022 campaign in an effort to derail the funds being sent in support of the truckers protesting Covid-19 restrictions.<\/p>\n\n\n\n Nunchuck's official response reads that it is a \u201cself-custodial, collaborative multi-sig Bitcoin wallet\u201d and that it's a \u201csoftware provider, not a custodial financial intermediary.\u201d<\/p>\n\n\n\n Despite these facts, Robbie Liu a researcher from Babel Finance told\u00a0Forkast<\/a>\u00a0that \"it is unrealistic for Russia to avoid sanctions using crypto as the market is mainly denominated in USD-pegged stablecoins<\/a>.\"<\/p>\n\n\n\n There are also measures in place that allow for entities to identify where transactions come from. Making it much harder for sanctioned nations to move around useful sums of money. <\/p>\n\n\n\n Chainalysis<\/a> is a company that tracks cross-border criminal activities on blockchains. So far, no unusual activities have been detected within Russia or Ukraine. Head of international policy, Caroline Malcome states that \u201cany information on relevant wallet addresses will be added to our products and available to our partners immediately,\u201d<\/p>\n\n\n\n <\/p>\n","post_title":"Will Russian Banks Blocked From SWIFT Turn To Crypto?","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"will-russian-banks-blocked-from-swift-turn-to-crypto","to_ping":"","pinged":"","post_modified":"2023-04-11 00:21:58","post_modified_gmt":"2023-04-10 14:21:58","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3627","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3561,"post_author":"1","post_date":"2022-02-23 18:44:52","post_date_gmt":"2022-02-23 07:44:52","post_content":"\n Ontario Superior Court of Justice sent\u00a0Nunchuk<\/a>\u00a0a self-custodial\u00a0Bitcoin wallet\u00a0a\u00a0Mareva Injunction<\/a>, ordering it to freeze and disclose information about the assets involved in the Freedom Convoy 2022 campaign in an effort to derail the funds being sent in support of the truckers protesting Covid-19 restrictions.<\/p>\n\n\n\n Nunchuck's official response reads that it is a \u201cself-custodial, collaborative multi-sig Bitcoin wallet\u201d and that it's a \u201csoftware provider, not a custodial financial intermediary.\u201d<\/p>\n\n\n\n Vladimir Putin is an advocate for crypto, recently going against the recommendations of his own central bank to ban cryptocurrencies<\/a>. Russia currently owns around 12% of the world's cryptocurrencies<\/a> and a BeInCrypto report<\/a> suggests Russias 'Crypto Toolbox' may help them dodge sanctions.<\/p>\n\n\n\n Despite these facts, Robbie Liu a researcher from Babel Finance told\u00a0Forkast<\/a>\u00a0that \"it is unrealistic for Russia to avoid sanctions using crypto as the market is mainly denominated in USD-pegged stablecoins<\/a>.\"<\/p>\n\n\n\n There are also measures in place that allow for entities to identify where transactions come from. Making it much harder for sanctioned nations to move around useful sums of money. <\/p>\n\n\n\n Chainalysis<\/a> is a company that tracks cross-border criminal activities on blockchains. So far, no unusual activities have been detected within Russia or Ukraine. Head of international policy, Caroline Malcome states that \u201cany information on relevant wallet addresses will be added to our products and available to our partners immediately,\u201d<\/p>\n\n\n\n <\/p>\n","post_title":"Will Russian Banks Blocked From SWIFT Turn To Crypto?","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"will-russian-banks-blocked-from-swift-turn-to-crypto","to_ping":"","pinged":"","post_modified":"2023-04-11 00:21:58","post_modified_gmt":"2023-04-10 14:21:58","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3627","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3561,"post_author":"1","post_date":"2022-02-23 18:44:52","post_date_gmt":"2022-02-23 07:44:52","post_content":"\n Ontario Superior Court of Justice sent\u00a0Nunchuk<\/a>\u00a0a self-custodial\u00a0Bitcoin wallet\u00a0a\u00a0Mareva Injunction<\/a>, ordering it to freeze and disclose information about the assets involved in the Freedom Convoy 2022 campaign in an effort to derail the funds being sent in support of the truckers protesting Covid-19 restrictions.<\/p>\n\n\n\n Nunchuck's official response reads that it is a \u201cself-custodial, collaborative multi-sig Bitcoin wallet\u201d and that it's a \u201csoftware provider, not a custodial financial intermediary.\u201d<\/p>\n\n\n\n \u201cIf a wealthy individual is concerned that their accounts may be frozen due to sanctions, they can simply hold their wealth in Bitcoin in order to be protected from such actions.\u201d<\/em><\/strong><\/p>Mati Greenspan, CEO at Quantum Economics<\/cite><\/blockquote>\n\n\n\n Vladimir Putin is an advocate for crypto, recently going against the recommendations of his own central bank to ban cryptocurrencies<\/a>. Russia currently owns around 12% of the world's cryptocurrencies<\/a> and a BeInCrypto report<\/a> suggests Russias 'Crypto Toolbox' may help them dodge sanctions.<\/p>\n\n\n\n Despite these facts, Robbie Liu a researcher from Babel Finance told\u00a0Forkast<\/a>\u00a0that \"it is unrealistic for Russia to avoid sanctions using crypto as the market is mainly denominated in USD-pegged stablecoins<\/a>.\"<\/p>\n\n\n\n There are also measures in place that allow for entities to identify where transactions come from. Making it much harder for sanctioned nations to move around useful sums of money. <\/p>\n\n\n\n Chainalysis<\/a> is a company that tracks cross-border criminal activities on blockchains. So far, no unusual activities have been detected within Russia or Ukraine. Head of international policy, Caroline Malcome states that \u201cany information on relevant wallet addresses will be added to our products and available to our partners immediately,\u201d<\/p>\n\n\n\n <\/p>\n","post_title":"Will Russian Banks Blocked From SWIFT Turn To Crypto?","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"will-russian-banks-blocked-from-swift-turn-to-crypto","to_ping":"","pinged":"","post_modified":"2023-04-11 00:21:58","post_modified_gmt":"2023-04-10 14:21:58","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3627","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3561,"post_author":"1","post_date":"2022-02-23 18:44:52","post_date_gmt":"2022-02-23 07:44:52","post_content":"\n Ontario Superior Court of Justice sent\u00a0Nunchuk<\/a>\u00a0a self-custodial\u00a0Bitcoin wallet\u00a0a\u00a0Mareva Injunction<\/a>, ordering it to freeze and disclose information about the assets involved in the Freedom Convoy 2022 campaign in an effort to derail the funds being sent in support of the truckers protesting Covid-19 restrictions.<\/p>\n\n\n\n Nunchuck's official response reads that it is a \u201cself-custodial, collaborative multi-sig Bitcoin wallet\u201d and that it's a \u201csoftware provider, not a custodial financial intermediary.\u201d<\/p>\n\n\n\n According to a Bloomberg<\/a> report, Russian billionaires may switch to cryptocurrencies to navigate around financial blockades and sanctions.<\/p>\n\n\n\n \u201cIf a wealthy individual is concerned that their accounts may be frozen due to sanctions, they can simply hold their wealth in Bitcoin in order to be protected from such actions.\u201d<\/em><\/strong><\/p>Mati Greenspan, CEO at Quantum Economics<\/cite><\/blockquote>\n\n\n\n Vladimir Putin is an advocate for crypto, recently going against the recommendations of his own central bank to ban cryptocurrencies<\/a>. Russia currently owns around 12% of the world's cryptocurrencies<\/a> and a BeInCrypto report<\/a> suggests Russias 'Crypto Toolbox' may help them dodge sanctions.<\/p>\n\n\n\n Despite these facts, Robbie Liu a researcher from Babel Finance told\u00a0Forkast<\/a>\u00a0that \"it is unrealistic for Russia to avoid sanctions using crypto as the market is mainly denominated in USD-pegged stablecoins<\/a>.\"<\/p>\n\n\n\n There are also measures in place that allow for entities to identify where transactions come from. Making it much harder for sanctioned nations to move around useful sums of money. <\/p>\n\n\n\n Chainalysis<\/a> is a company that tracks cross-border criminal activities on blockchains. So far, no unusual activities have been detected within Russia or Ukraine. Head of international policy, Caroline Malcome states that \u201cany information on relevant wallet addresses will be added to our products and available to our partners immediately,\u201d<\/p>\n\n\n\n <\/p>\n","post_title":"Will Russian Banks Blocked From SWIFT Turn To Crypto?","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"will-russian-banks-blocked-from-swift-turn-to-crypto","to_ping":"","pinged":"","post_modified":"2023-04-11 00:21:58","post_modified_gmt":"2023-04-10 14:21:58","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3627","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3561,"post_author":"1","post_date":"2022-02-23 18:44:52","post_date_gmt":"2022-02-23 07:44:52","post_content":"\n Ontario Superior Court of Justice sent\u00a0Nunchuk<\/a>\u00a0a self-custodial\u00a0Bitcoin wallet\u00a0a\u00a0Mareva Injunction<\/a>, ordering it to freeze and disclose information about the assets involved in the Freedom Convoy 2022 campaign in an effort to derail the funds being sent in support of the truckers protesting Covid-19 restrictions.<\/p>\n\n\n\n Nunchuck's official response reads that it is a \u201cself-custodial, collaborative multi-sig Bitcoin wallet\u201d and that it's a \u201csoftware provider, not a custodial financial intermediary.\u201d<\/p>\n\n\n\n According to a Bloomberg<\/a> report, Russian billionaires may switch to cryptocurrencies to navigate around financial blockades and sanctions.<\/p>\n\n\n\n \u201cIf a wealthy individual is concerned that their accounts may be frozen due to sanctions, they can simply hold their wealth in Bitcoin in order to be protected from such actions.\u201d<\/em><\/strong><\/p>Mati Greenspan, CEO at Quantum Economics<\/cite><\/blockquote>\n\n\n\n Vladimir Putin is an advocate for crypto, recently going against the recommendations of his own central bank to ban cryptocurrencies<\/a>. Russia currently owns around 12% of the world's cryptocurrencies<\/a> and a BeInCrypto report<\/a> suggests Russias 'Crypto Toolbox' may help them dodge sanctions.<\/p>\n\n\n\n Despite these facts, Robbie Liu a researcher from Babel Finance told\u00a0Forkast<\/a>\u00a0that \"it is unrealistic for Russia to avoid sanctions using crypto as the market is mainly denominated in USD-pegged stablecoins<\/a>.\"<\/p>\n\n\n\n There are also measures in place that allow for entities to identify where transactions come from. Making it much harder for sanctioned nations to move around useful sums of money. <\/p>\n\n\n\n Chainalysis<\/a> is a company that tracks cross-border criminal activities on blockchains. So far, no unusual activities have been detected within Russia or Ukraine. Head of international policy, Caroline Malcome states that \u201cany information on relevant wallet addresses will be added to our products and available to our partners immediately,\u201d<\/p>\n\n\n\n <\/p>\n","post_title":"Will Russian Banks Blocked From SWIFT Turn To Crypto?","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"will-russian-banks-blocked-from-swift-turn-to-crypto","to_ping":"","pinged":"","post_modified":"2023-04-11 00:21:58","post_modified_gmt":"2023-04-10 14:21:58","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3627","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3561,"post_author":"1","post_date":"2022-02-23 18:44:52","post_date_gmt":"2022-02-23 07:44:52","post_content":"\n Ontario Superior Court of Justice sent\u00a0Nunchuk<\/a>\u00a0a self-custodial\u00a0Bitcoin wallet\u00a0a\u00a0Mareva Injunction<\/a>, ordering it to freeze and disclose information about the assets involved in the Freedom Convoy 2022 campaign in an effort to derail the funds being sent in support of the truckers protesting Covid-19 restrictions.<\/p>\n\n\n\n Nunchuck's official response reads that it is a \u201cself-custodial, collaborative multi-sig Bitcoin wallet\u201d and that it's a \u201csoftware provider, not a custodial financial intermediary.\u201d<\/p>\n\n\n\n Excluding certain Russian banks from the SWIFT system used for transactions worth trillions will hit the Russian economy, hard. The White House added that it will make Russia rely on \"the telephone or a fax machine\" to make payments.<\/p>\n\n\n\n According to a Bloomberg<\/a> report, Russian billionaires may switch to cryptocurrencies to navigate around financial blockades and sanctions.<\/p>\n\n\n\n \u201cIf a wealthy individual is concerned that their accounts may be frozen due to sanctions, they can simply hold their wealth in Bitcoin in order to be protected from such actions.\u201d<\/em><\/strong><\/p>Mati Greenspan, CEO at Quantum Economics<\/cite><\/blockquote>\n\n\n\n Vladimir Putin is an advocate for crypto, recently going against the recommendations of his own central bank to ban cryptocurrencies<\/a>. Russia currently owns around 12% of the world's cryptocurrencies<\/a> and a BeInCrypto report<\/a> suggests Russias 'Crypto Toolbox' may help them dodge sanctions.<\/p>\n\n\n\n Despite these facts, Robbie Liu a researcher from Babel Finance told\u00a0Forkast<\/a>\u00a0that \"it is unrealistic for Russia to avoid sanctions using crypto as the market is mainly denominated in USD-pegged stablecoins<\/a>.\"<\/p>\n\n\n\n There are also measures in place that allow for entities to identify where transactions come from. Making it much harder for sanctioned nations to move around useful sums of money. <\/p>\n\n\n\n Chainalysis<\/a> is a company that tracks cross-border criminal activities on blockchains. So far, no unusual activities have been detected within Russia or Ukraine. Head of international policy, Caroline Malcome states that \u201cany information on relevant wallet addresses will be added to our products and available to our partners immediately,\u201d<\/p>\n\n\n\n <\/p>\n","post_title":"Will Russian Banks Blocked From SWIFT Turn To Crypto?","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"will-russian-banks-blocked-from-swift-turn-to-crypto","to_ping":"","pinged":"","post_modified":"2023-04-11 00:21:58","post_modified_gmt":"2023-04-10 14:21:58","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3627","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3561,"post_author":"1","post_date":"2022-02-23 18:44:52","post_date_gmt":"2022-02-23 07:44:52","post_content":"\n Ontario Superior Court of Justice sent\u00a0Nunchuk<\/a>\u00a0a self-custodial\u00a0Bitcoin wallet\u00a0a\u00a0Mareva Injunction<\/a>, ordering it to freeze and disclose information about the assets involved in the Freedom Convoy 2022 campaign in an effort to derail the funds being sent in support of the truckers protesting Covid-19 restrictions.<\/p>\n\n\n\n Nunchuck's official response reads that it is a \u201cself-custodial, collaborative multi-sig Bitcoin wallet\u201d and that it's a \u201csoftware provider, not a custodial financial intermediary.\u201d<\/p>\n\n\n\n The Society for Worldwide Interbank Financial Telecommunication is a Belgian-based messaging system. It facilitates transactions between more than 11,000 banks and financial institutions across 200 countries. SWIFT makes cross-border payments and international trade possible.<\/p>\n\n\n\n Excluding certain Russian banks from the SWIFT system used for transactions worth trillions will hit the Russian economy, hard. The White House added that it will make Russia rely on \"the telephone or a fax machine\" to make payments.<\/p>\n\n\n\n According to a Bloomberg<\/a> report, Russian billionaires may switch to cryptocurrencies to navigate around financial blockades and sanctions.<\/p>\n\n\n\n \u201cIf a wealthy individual is concerned that their accounts may be frozen due to sanctions, they can simply hold their wealth in Bitcoin in order to be protected from such actions.\u201d<\/em><\/strong><\/p>Mati Greenspan, CEO at Quantum Economics<\/cite><\/blockquote>\n\n\n\n Vladimir Putin is an advocate for crypto, recently going against the recommendations of his own central bank to ban cryptocurrencies<\/a>. Russia currently owns around 12% of the world's cryptocurrencies<\/a> and a BeInCrypto report<\/a> suggests Russias 'Crypto Toolbox' may help them dodge sanctions.<\/p>\n\n\n\n Despite these facts, Robbie Liu a researcher from Babel Finance told\u00a0Forkast<\/a>\u00a0that \"it is unrealistic for Russia to avoid sanctions using crypto as the market is mainly denominated in USD-pegged stablecoins<\/a>.\"<\/p>\n\n\n\n There are also measures in place that allow for entities to identify where transactions come from. Making it much harder for sanctioned nations to move around useful sums of money. <\/p>\n\n\n\n Chainalysis<\/a> is a company that tracks cross-border criminal activities on blockchains. So far, no unusual activities have been detected within Russia or Ukraine. Head of international policy, Caroline Malcome states that \u201cany information on relevant wallet addresses will be added to our products and available to our partners immediately,\u201d<\/p>\n\n\n\n <\/p>\n","post_title":"Will Russian Banks Blocked From SWIFT Turn To Crypto?","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"will-russian-banks-blocked-from-swift-turn-to-crypto","to_ping":"","pinged":"","post_modified":"2023-04-11 00:21:58","post_modified_gmt":"2023-04-10 14:21:58","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3627","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3561,"post_author":"1","post_date":"2022-02-23 18:44:52","post_date_gmt":"2022-02-23 07:44:52","post_content":"\n Ontario Superior Court of Justice sent\u00a0Nunchuk<\/a>\u00a0a self-custodial\u00a0Bitcoin wallet\u00a0a\u00a0Mareva Injunction<\/a>, ordering it to freeze and disclose information about the assets involved in the Freedom Convoy 2022 campaign in an effort to derail the funds being sent in support of the truckers protesting Covid-19 restrictions.<\/p>\n\n\n\n Nunchuck's official response reads that it is a \u201cself-custodial, collaborative multi-sig Bitcoin wallet\u201d and that it's a \u201csoftware provider, not a custodial financial intermediary.\u201d<\/p>\n\n\n\n The Society for Worldwide Interbank Financial Telecommunication is a Belgian-based messaging system. It facilitates transactions between more than 11,000 banks and financial institutions across 200 countries. SWIFT makes cross-border payments and international trade possible.<\/p>\n\n\n\n Excluding certain Russian banks from the SWIFT system used for transactions worth trillions will hit the Russian economy, hard. The White House added that it will make Russia rely on \"the telephone or a fax machine\" to make payments.<\/p>\n\n\n\n According to a Bloomberg<\/a> report, Russian billionaires may switch to cryptocurrencies to navigate around financial blockades and sanctions.<\/p>\n\n\n\n \u201cIf a wealthy individual is concerned that their accounts may be frozen due to sanctions, they can simply hold their wealth in Bitcoin in order to be protected from such actions.\u201d<\/em><\/strong><\/p>Mati Greenspan, CEO at Quantum Economics<\/cite><\/blockquote>\n\n\n\n Vladimir Putin is an advocate for crypto, recently going against the recommendations of his own central bank to ban cryptocurrencies<\/a>. Russia currently owns around 12% of the world's cryptocurrencies<\/a> and a BeInCrypto report<\/a> suggests Russias 'Crypto Toolbox' may help them dodge sanctions.<\/p>\n\n\n\n Despite these facts, Robbie Liu a researcher from Babel Finance told\u00a0Forkast<\/a>\u00a0that \"it is unrealistic for Russia to avoid sanctions using crypto as the market is mainly denominated in USD-pegged stablecoins<\/a>.\"<\/p>\n\n\n\n There are also measures in place that allow for entities to identify where transactions come from. Making it much harder for sanctioned nations to move around useful sums of money. <\/p>\n\n\n\n Chainalysis<\/a> is a company that tracks cross-border criminal activities on blockchains. So far, no unusual activities have been detected within Russia or Ukraine. Head of international policy, Caroline Malcome states that \u201cany information on relevant wallet addresses will be added to our products and available to our partners immediately,\u201d<\/p>\n\n\n\n <\/p>\n","post_title":"Will Russian Banks Blocked From SWIFT Turn To Crypto?","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"will-russian-banks-blocked-from-swift-turn-to-crypto","to_ping":"","pinged":"","post_modified":"2023-04-11 00:21:58","post_modified_gmt":"2023-04-10 14:21:58","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3627","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3561,"post_author":"1","post_date":"2022-02-23 18:44:52","post_date_gmt":"2022-02-23 07:44:52","post_content":"\n Ontario Superior Court of Justice sent\u00a0Nunchuk<\/a>\u00a0a self-custodial\u00a0Bitcoin wallet\u00a0a\u00a0Mareva Injunction<\/a>, ordering it to freeze and disclose information about the assets involved in the Freedom Convoy 2022 campaign in an effort to derail the funds being sent in support of the truckers protesting Covid-19 restrictions.<\/p>\n\n\n\n Nunchuck's official response reads that it is a \u201cself-custodial, collaborative multi-sig Bitcoin wallet\u201d and that it's a \u201csoftware provider, not a custodial financial intermediary.\u201d<\/p>\n\n\n\n The US, UK, Canada, and Europe agreed to block some Russian banks from SWIFT<\/a> to \"further isolate Russia from the international financial system\". <\/p>\n\n\n\n The Society for Worldwide Interbank Financial Telecommunication is a Belgian-based messaging system. It facilitates transactions between more than 11,000 banks and financial institutions across 200 countries. SWIFT makes cross-border payments and international trade possible.<\/p>\n\n\n\n Excluding certain Russian banks from the SWIFT system used for transactions worth trillions will hit the Russian economy, hard. The White House added that it will make Russia rely on \"the telephone or a fax machine\" to make payments.<\/p>\n\n\n\n According to a Bloomberg<\/a> report, Russian billionaires may switch to cryptocurrencies to navigate around financial blockades and sanctions.<\/p>\n\n\n\n \u201cIf a wealthy individual is concerned that their accounts may be frozen due to sanctions, they can simply hold their wealth in Bitcoin in order to be protected from such actions.\u201d<\/em><\/strong><\/p>Mati Greenspan, CEO at Quantum Economics<\/cite><\/blockquote>\n\n\n\n Vladimir Putin is an advocate for crypto, recently going against the recommendations of his own central bank to ban cryptocurrencies<\/a>. Russia currently owns around 12% of the world's cryptocurrencies<\/a> and a BeInCrypto report<\/a> suggests Russias 'Crypto Toolbox' may help them dodge sanctions.<\/p>\n\n\n\n Despite these facts, Robbie Liu a researcher from Babel Finance told\u00a0Forkast<\/a>\u00a0that \"it is unrealistic for Russia to avoid sanctions using crypto as the market is mainly denominated in USD-pegged stablecoins<\/a>.\"<\/p>\n\n\n\n There are also measures in place that allow for entities to identify where transactions come from. Making it much harder for sanctioned nations to move around useful sums of money. <\/p>\n\n\n\n Chainalysis<\/a> is a company that tracks cross-border criminal activities on blockchains. So far, no unusual activities have been detected within Russia or Ukraine. Head of international policy, Caroline Malcome states that \u201cany information on relevant wallet addresses will be added to our products and available to our partners immediately,\u201d<\/p>\n\n\n\n <\/p>\n","post_title":"Will Russian Banks Blocked From SWIFT Turn To Crypto?","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"will-russian-banks-blocked-from-swift-turn-to-crypto","to_ping":"","pinged":"","post_modified":"2023-04-11 00:21:58","post_modified_gmt":"2023-04-10 14:21:58","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3627","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3561,"post_author":"1","post_date":"2022-02-23 18:44:52","post_date_gmt":"2022-02-23 07:44:52","post_content":"\n Ontario Superior Court of Justice sent\u00a0Nunchuk<\/a>\u00a0a self-custodial\u00a0Bitcoin wallet\u00a0a\u00a0Mareva Injunction<\/a>, ordering it to freeze and disclose information about the assets involved in the Freedom Convoy 2022 campaign in an effort to derail the funds being sent in support of the truckers protesting Covid-19 restrictions.<\/p>\n\n\n\n Nunchuck's official response reads that it is a \u201cself-custodial, collaborative multi-sig Bitcoin wallet\u201d and that it's a \u201csoftware provider, not a custodial financial intermediary.\u201d<\/p>\n\n\n\n Vladimir Putin's recent decision to invade Ukraine has had a negative impact<\/a> on the global financial system. Although markets have recovered<\/a> this is the beginning for Russia's economy.<\/p>\n\n\n\n The US, UK, Canada, and Europe agreed to block some Russian banks from SWIFT<\/a> to \"further isolate Russia from the international financial system\". <\/p>\n\n\n\n The Society for Worldwide Interbank Financial Telecommunication is a Belgian-based messaging system. It facilitates transactions between more than 11,000 banks and financial institutions across 200 countries. SWIFT makes cross-border payments and international trade possible.<\/p>\n\n\n\n Excluding certain Russian banks from the SWIFT system used for transactions worth trillions will hit the Russian economy, hard. The White House added that it will make Russia rely on \"the telephone or a fax machine\" to make payments.<\/p>\n\n\n\n According to a Bloomberg<\/a> report, Russian billionaires may switch to cryptocurrencies to navigate around financial blockades and sanctions.<\/p>\n\n\n\n \u201cIf a wealthy individual is concerned that their accounts may be frozen due to sanctions, they can simply hold their wealth in Bitcoin in order to be protected from such actions.\u201d<\/em><\/strong><\/p>Mati Greenspan, CEO at Quantum Economics<\/cite><\/blockquote>\n\n\n\n Vladimir Putin is an advocate for crypto, recently going against the recommendations of his own central bank to ban cryptocurrencies<\/a>. Russia currently owns around 12% of the world's cryptocurrencies<\/a> and a BeInCrypto report<\/a> suggests Russias 'Crypto Toolbox' may help them dodge sanctions.<\/p>\n\n\n\n Despite these facts, Robbie Liu a researcher from Babel Finance told\u00a0Forkast<\/a>\u00a0that \"it is unrealistic for Russia to avoid sanctions using crypto as the market is mainly denominated in USD-pegged stablecoins<\/a>.\"<\/p>\n\n\n\n There are also measures in place that allow for entities to identify where transactions come from. Making it much harder for sanctioned nations to move around useful sums of money. <\/p>\n\n\n\n Chainalysis<\/a> is a company that tracks cross-border criminal activities on blockchains. So far, no unusual activities have been detected within Russia or Ukraine. Head of international policy, Caroline Malcome states that \u201cany information on relevant wallet addresses will be added to our products and available to our partners immediately,\u201d<\/p>\n\n\n\n <\/p>\n","post_title":"Will Russian Banks Blocked From SWIFT Turn To Crypto?","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"will-russian-banks-blocked-from-swift-turn-to-crypto","to_ping":"","pinged":"","post_modified":"2023-04-11 00:21:58","post_modified_gmt":"2023-04-10 14:21:58","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3627","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3561,"post_author":"1","post_date":"2022-02-23 18:44:52","post_date_gmt":"2022-02-23 07:44:52","post_content":"\n Ontario Superior Court of Justice sent\u00a0Nunchuk<\/a>\u00a0a self-custodial\u00a0Bitcoin wallet\u00a0a\u00a0Mareva Injunction<\/a>, ordering it to freeze and disclose information about the assets involved in the Freedom Convoy 2022 campaign in an effort to derail the funds being sent in support of the truckers protesting Covid-19 restrictions.<\/p>\n\n\n\n Nunchuck's official response reads that it is a \u201cself-custodial, collaborative multi-sig Bitcoin wallet\u201d and that it's a \u201csoftware provider, not a custodial financial intermediary.\u201d<\/p>\n\n\n\n The new law accompanies China's efforts to root out financial scams and money laundering by \u201cpunishing illegal fundraising crimes in accordance with the law and maintaining national financial security and stability\u201d.<\/p>\n","post_title":"China's Supreme Court Declares Crypto Transactions \"Illegal Fundraising\"","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"chinas-supreme-court-declares-crypto-transactions-illegal","to_ping":"","pinged":"","post_modified":"2022-02-27 21:51:55","post_modified_gmt":"2022-02-27 10:51:55","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3630","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3627,"post_author":"1","post_date":"2022-02-27 16:13:25","post_date_gmt":"2022-02-27 05:13:25","post_content":"\n Vladimir Putin's recent decision to invade Ukraine has had a negative impact<\/a> on the global financial system. Although markets have recovered<\/a> this is the beginning for Russia's economy.<\/p>\n\n\n\n The US, UK, Canada, and Europe agreed to block some Russian banks from SWIFT<\/a> to \"further isolate Russia from the international financial system\". <\/p>\n\n\n\n The Society for Worldwide Interbank Financial Telecommunication is a Belgian-based messaging system. It facilitates transactions between more than 11,000 banks and financial institutions across 200 countries. SWIFT makes cross-border payments and international trade possible.<\/p>\n\n\n\n Excluding certain Russian banks from the SWIFT system used for transactions worth trillions will hit the Russian economy, hard. The White House added that it will make Russia rely on \"the telephone or a fax machine\" to make payments.<\/p>\n\n\n\n According to a Bloomberg<\/a> report, Russian billionaires may switch to cryptocurrencies to navigate around financial blockades and sanctions.<\/p>\n\n\n\n \u201cIf a wealthy individual is concerned that their accounts may be frozen due to sanctions, they can simply hold their wealth in Bitcoin in order to be protected from such actions.\u201d<\/em><\/strong><\/p>Mati Greenspan, CEO at Quantum Economics<\/cite><\/blockquote>\n\n\n\n Vladimir Putin is an advocate for crypto, recently going against the recommendations of his own central bank to ban cryptocurrencies<\/a>. Russia currently owns around 12% of the world's cryptocurrencies<\/a> and a BeInCrypto report<\/a> suggests Russias 'Crypto Toolbox' may help them dodge sanctions.<\/p>\n\n\n\n Despite these facts, Robbie Liu a researcher from Babel Finance told\u00a0Forkast<\/a>\u00a0that \"it is unrealistic for Russia to avoid sanctions using crypto as the market is mainly denominated in USD-pegged stablecoins<\/a>.\"<\/p>\n\n\n\n There are also measures in place that allow for entities to identify where transactions come from. Making it much harder for sanctioned nations to move around useful sums of money. <\/p>\n\n\n\n Chainalysis<\/a> is a company that tracks cross-border criminal activities on blockchains. So far, no unusual activities have been detected within Russia or Ukraine. Head of international policy, Caroline Malcome states that \u201cany information on relevant wallet addresses will be added to our products and available to our partners immediately,\u201d<\/p>\n\n\n\n <\/p>\n","post_title":"Will Russian Banks Blocked From SWIFT Turn To Crypto?","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"will-russian-banks-blocked-from-swift-turn-to-crypto","to_ping":"","pinged":"","post_modified":"2023-04-11 00:21:58","post_modified_gmt":"2023-04-10 14:21:58","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3627","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3561,"post_author":"1","post_date":"2022-02-23 18:44:52","post_date_gmt":"2022-02-23 07:44:52","post_content":"\n Ontario Superior Court of Justice sent\u00a0Nunchuk<\/a>\u00a0a self-custodial\u00a0Bitcoin wallet\u00a0a\u00a0Mareva Injunction<\/a>, ordering it to freeze and disclose information about the assets involved in the Freedom Convoy 2022 campaign in an effort to derail the funds being sent in support of the truckers protesting Covid-19 restrictions.<\/p>\n\n\n\n Nunchuck's official response reads that it is a \u201cself-custodial, collaborative multi-sig Bitcoin wallet\u201d and that it's a \u201csoftware provider, not a custodial financial intermediary.\u201d<\/p>\n\n\n\n Less serious fundraising will be prosecuted with no more than 3 years in prison, with a fine from 20,000 Yuan (US$3160) to 200,000 Yuan (US$31,600).<\/p>\n\n\n\n The new law accompanies China's efforts to root out financial scams and money laundering by \u201cpunishing illegal fundraising crimes in accordance with the law and maintaining national financial security and stability\u201d.<\/p>\n","post_title":"China's Supreme Court Declares Crypto Transactions \"Illegal Fundraising\"","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"chinas-supreme-court-declares-crypto-transactions-illegal","to_ping":"","pinged":"","post_modified":"2022-02-27 21:51:55","post_modified_gmt":"2022-02-27 10:51:55","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3630","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3627,"post_author":"1","post_date":"2022-02-27 16:13:25","post_date_gmt":"2022-02-27 05:13:25","post_content":"\n Vladimir Putin's recent decision to invade Ukraine has had a negative impact<\/a> on the global financial system. Although markets have recovered<\/a> this is the beginning for Russia's economy.<\/p>\n\n\n\n The US, UK, Canada, and Europe agreed to block some Russian banks from SWIFT<\/a> to \"further isolate Russia from the international financial system\". <\/p>\n\n\n\n The Society for Worldwide Interbank Financial Telecommunication is a Belgian-based messaging system. It facilitates transactions between more than 11,000 banks and financial institutions across 200 countries. SWIFT makes cross-border payments and international trade possible.<\/p>\n\n\n\n Excluding certain Russian banks from the SWIFT system used for transactions worth trillions will hit the Russian economy, hard. The White House added that it will make Russia rely on \"the telephone or a fax machine\" to make payments.<\/p>\n\n\n\n According to a Bloomberg<\/a> report, Russian billionaires may switch to cryptocurrencies to navigate around financial blockades and sanctions.<\/p>\n\n\n\n \u201cIf a wealthy individual is concerned that their accounts may be frozen due to sanctions, they can simply hold their wealth in Bitcoin in order to be protected from such actions.\u201d<\/em><\/strong><\/p>Mati Greenspan, CEO at Quantum Economics<\/cite><\/blockquote>\n\n\n\n Vladimir Putin is an advocate for crypto, recently going against the recommendations of his own central bank to ban cryptocurrencies<\/a>. Russia currently owns around 12% of the world's cryptocurrencies<\/a> and a BeInCrypto report<\/a> suggests Russias 'Crypto Toolbox' may help them dodge sanctions.<\/p>\n\n\n\n Despite these facts, Robbie Liu a researcher from Babel Finance told\u00a0Forkast<\/a>\u00a0that \"it is unrealistic for Russia to avoid sanctions using crypto as the market is mainly denominated in USD-pegged stablecoins<\/a>.\"<\/p>\n\n\n\n There are also measures in place that allow for entities to identify where transactions come from. Making it much harder for sanctioned nations to move around useful sums of money. <\/p>\n\n\n\n Chainalysis<\/a> is a company that tracks cross-border criminal activities on blockchains. So far, no unusual activities have been detected within Russia or Ukraine. Head of international policy, Caroline Malcome states that \u201cany information on relevant wallet addresses will be added to our products and available to our partners immediately,\u201d<\/p>\n\n\n\n <\/p>\n","post_title":"Will Russian Banks Blocked From SWIFT Turn To Crypto?","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"will-russian-banks-blocked-from-swift-turn-to-crypto","to_ping":"","pinged":"","post_modified":"2023-04-11 00:21:58","post_modified_gmt":"2023-04-10 14:21:58","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3627","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3561,"post_author":"1","post_date":"2022-02-23 18:44:52","post_date_gmt":"2022-02-23 07:44:52","post_content":"\n Ontario Superior Court of Justice sent\u00a0Nunchuk<\/a>\u00a0a self-custodial\u00a0Bitcoin wallet\u00a0a\u00a0Mareva Injunction<\/a>, ordering it to freeze and disclose information about the assets involved in the Freedom Convoy 2022 campaign in an effort to derail the funds being sent in support of the truckers protesting Covid-19 restrictions.<\/p>\n\n\n\n Nunchuck's official response reads that it is a \u201cself-custodial, collaborative multi-sig Bitcoin wallet\u201d and that it's a \u201csoftware provider, not a custodial financial intermediary.\u201d<\/p>\n\n\n\n Fundraising that exceeds 100,000 yuan (US$15,800) is categorized as a \u201clarge amount\u201d which sets forth prison sentences between 3 and 10 years with fines between 50,000 Yuan (US$7,900) and 500,000 Yuan ($79,000).<\/p>\n\n\n\n Less serious fundraising will be prosecuted with no more than 3 years in prison, with a fine from 20,000 Yuan (US$3160) to 200,000 Yuan (US$31,600).<\/p>\n\n\n\n The new law accompanies China's efforts to root out financial scams and money laundering by \u201cpunishing illegal fundraising crimes in accordance with the law and maintaining national financial security and stability\u201d.<\/p>\n","post_title":"China's Supreme Court Declares Crypto Transactions \"Illegal Fundraising\"","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"chinas-supreme-court-declares-crypto-transactions-illegal","to_ping":"","pinged":"","post_modified":"2022-02-27 21:51:55","post_modified_gmt":"2022-02-27 10:51:55","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3630","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3627,"post_author":"1","post_date":"2022-02-27 16:13:25","post_date_gmt":"2022-02-27 05:13:25","post_content":"\n Vladimir Putin's recent decision to invade Ukraine has had a negative impact<\/a> on the global financial system. Although markets have recovered<\/a> this is the beginning for Russia's economy.<\/p>\n\n\n\n The US, UK, Canada, and Europe agreed to block some Russian banks from SWIFT<\/a> to \"further isolate Russia from the international financial system\". <\/p>\n\n\n\n The Society for Worldwide Interbank Financial Telecommunication is a Belgian-based messaging system. It facilitates transactions between more than 11,000 banks and financial institutions across 200 countries. SWIFT makes cross-border payments and international trade possible.<\/p>\n\n\n\n Excluding certain Russian banks from the SWIFT system used for transactions worth trillions will hit the Russian economy, hard. The White House added that it will make Russia rely on \"the telephone or a fax machine\" to make payments.<\/p>\n\n\n\n According to a Bloomberg<\/a> report, Russian billionaires may switch to cryptocurrencies to navigate around financial blockades and sanctions.<\/p>\n\n\n\n \u201cIf a wealthy individual is concerned that their accounts may be frozen due to sanctions, they can simply hold their wealth in Bitcoin in order to be protected from such actions.\u201d<\/em><\/strong><\/p>Mati Greenspan, CEO at Quantum Economics<\/cite><\/blockquote>\n\n\n\n Vladimir Putin is an advocate for crypto, recently going against the recommendations of his own central bank to ban cryptocurrencies<\/a>. Russia currently owns around 12% of the world's cryptocurrencies<\/a> and a BeInCrypto report<\/a> suggests Russias 'Crypto Toolbox' may help them dodge sanctions.<\/p>\n\n\n\n Despite these facts, Robbie Liu a researcher from Babel Finance told\u00a0Forkast<\/a>\u00a0that \"it is unrealistic for Russia to avoid sanctions using crypto as the market is mainly denominated in USD-pegged stablecoins<\/a>.\"<\/p>\n\n\n\n There are also measures in place that allow for entities to identify where transactions come from. Making it much harder for sanctioned nations to move around useful sums of money. <\/p>\n\n\n\n Chainalysis<\/a> is a company that tracks cross-border criminal activities on blockchains. So far, no unusual activities have been detected within Russia or Ukraine. Head of international policy, Caroline Malcome states that \u201cany information on relevant wallet addresses will be added to our products and available to our partners immediately,\u201d<\/p>\n\n\n\n <\/p>\n","post_title":"Will Russian Banks Blocked From SWIFT Turn To Crypto?","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"will-russian-banks-blocked-from-swift-turn-to-crypto","to_ping":"","pinged":"","post_modified":"2023-04-11 00:21:58","post_modified_gmt":"2023-04-10 14:21:58","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3627","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3561,"post_author":"1","post_date":"2022-02-23 18:44:52","post_date_gmt":"2022-02-23 07:44:52","post_content":"\n Ontario Superior Court of Justice sent\u00a0Nunchuk<\/a>\u00a0a self-custodial\u00a0Bitcoin wallet\u00a0a\u00a0Mareva Injunction<\/a>, ordering it to freeze and disclose information about the assets involved in the Freedom Convoy 2022 campaign in an effort to derail the funds being sent in support of the truckers protesting Covid-19 restrictions.<\/p>\n\n\n\n Nunchuck's official response reads that it is a \u201cself-custodial, collaborative multi-sig Bitcoin wallet\u201d and that it's a \u201csoftware provider, not a custodial financial intermediary.\u201d<\/p>\n\n\n\n
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Going Against Court Orders<\/h2>\n\n\n\n
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Will Russia Pivot To Crypto?<\/h2>\n\n\n\n
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Will Russia Pivot To Crypto?<\/h2>\n\n\n\n
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Will Russia Pivot To Crypto?<\/h2>\n\n\n\n
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What Is SWIFT?<\/h2>\n\n\n\n
Will Russia Pivot To Crypto?<\/h2>\n\n\n\n
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What Is SWIFT?<\/h2>\n\n\n\n
Will Russia Pivot To Crypto?<\/h2>\n\n\n\n
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What Is SWIFT?<\/h2>\n\n\n\n
Will Russia Pivot To Crypto?<\/h2>\n\n\n\n
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What Is SWIFT?<\/h2>\n\n\n\n
Will Russia Pivot To Crypto?<\/h2>\n\n\n\n
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What Is SWIFT?<\/h2>\n\n\n\n
Will Russia Pivot To Crypto?<\/h2>\n\n\n\n
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What Is SWIFT?<\/h2>\n\n\n\n
Will Russia Pivot To Crypto?<\/h2>\n\n\n\n