No Result
View All Result
No Result
View All Result
No Result
View All Result
\n

\"Regulation will only provide the transparency that will ensure the protection of citizens.\"<\/strong><\/em><\/p>Ivan Chebeskov, Head Of The Financial Policy Department<\/cite><\/blockquote>\n\n\n\n

<\/p>\n","post_title":"Will Russia Ban Bitcoin? Likely Not; Here's Why...","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"will-russia-ban-bitcoin-likely-not-heres-why","to_ping":"","pinged":"","post_modified":"2023-04-11 12:56:24","post_modified_gmt":"2023-04-11 02:56:24","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3341","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"};

1 2

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

Since Russia enjoys the benefit of having the option to give cheap power, it will remain the third-biggest country for crypto mining.<\/p>\n\n\n\n

\"Regulation will only provide the transparency that will ensure the protection of citizens.\"<\/strong><\/em><\/p>Ivan Chebeskov, Head Of The Financial Policy Department<\/cite><\/blockquote>\n\n\n\n

<\/p>\n","post_title":"Will Russia Ban Bitcoin? Likely Not; Here's Why...","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"will-russia-ban-bitcoin-likely-not-heres-why","to_ping":"","pinged":"","post_modified":"2023-04-11 12:56:24","post_modified_gmt":"2023-04-11 02:56:24","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3341","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"};

1 2

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

Putin has recognized that, although cryptocurrencies convey a specific measure of hazard coming from its volatility, digital currency mining guarantees a ton of upper hand to the country.<\/p>\n\n\n\n

Since Russia enjoys the benefit of having the option to give cheap power, it will remain the third-biggest country for crypto mining.<\/p>\n\n\n\n

\"Regulation will only provide the transparency that will ensure the protection of citizens.\"<\/strong><\/em><\/p>Ivan Chebeskov, Head Of The Financial Policy Department<\/cite><\/blockquote>\n\n\n\n

<\/p>\n","post_title":"Will Russia Ban Bitcoin? Likely Not; Here's Why...","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"will-russia-ban-bitcoin-likely-not-heres-why","to_ping":"","pinged":"","post_modified":"2023-04-11 12:56:24","post_modified_gmt":"2023-04-11 02:56:24","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3341","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"};

1 2

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

The National Bank, through this guide, advocates having an administrative and prohibitive system for cryptocurrencies. This change of position comes after Putin demanded showing up at an agreement in regards to this.<\/p>\n\n\n\n

Putin has recognized that, although cryptocurrencies convey a specific measure of hazard coming from its volatility, digital currency mining guarantees a ton of upper hand to the country.<\/p>\n\n\n\n

Since Russia enjoys the benefit of having the option to give cheap power, it will remain the third-biggest country for crypto mining.<\/p>\n\n\n\n

\"Regulation will only provide the transparency that will ensure the protection of citizens.\"<\/strong><\/em><\/p>Ivan Chebeskov, Head Of The Financial Policy Department<\/cite><\/blockquote>\n\n\n\n

<\/p>\n","post_title":"Will Russia Ban Bitcoin? Likely Not; Here's Why...","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"will-russia-ban-bitcoin-likely-not-heres-why","to_ping":"","pinged":"","post_modified":"2023-04-11 12:56:24","post_modified_gmt":"2023-04-11 02:56:24","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3341","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"};

1 2

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

What Do Russia's Regulations Entail?<\/h2>\n\n\n\n

The National Bank, through this guide, advocates having an administrative and prohibitive system for cryptocurrencies. This change of position comes after Putin demanded showing up at an agreement in regards to this.<\/p>\n\n\n\n

Putin has recognized that, although cryptocurrencies convey a specific measure of hazard coming from its volatility, digital currency mining guarantees a ton of upper hand to the country.<\/p>\n\n\n\n

Since Russia enjoys the benefit of having the option to give cheap power, it will remain the third-biggest country for crypto mining.<\/p>\n\n\n\n

\"Regulation will only provide the transparency that will ensure the protection of citizens.\"<\/strong><\/em><\/p>Ivan Chebeskov, Head Of The Financial Policy Department<\/cite><\/blockquote>\n\n\n\n

<\/p>\n","post_title":"Will Russia Ban Bitcoin? Likely Not; Here's Why...","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"will-russia-ban-bitcoin-likely-not-heres-why","to_ping":"","pinged":"","post_modified":"2023-04-11 12:56:24","post_modified_gmt":"2023-04-11 02:56:24","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3341","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"};

1 2

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

The roadmap goes against the recently proposed blanket ban on cryptocurrencies - as per the Russian Central Bank. Suggesting that crypto-related activities such as payments, exchange, and mining be banned, as it risks financial stability for the citizens of the nation.<\/p>\n\n\n\n

What Do Russia's Regulations Entail?<\/h2>\n\n\n\n

The National Bank, through this guide, advocates having an administrative and prohibitive system for cryptocurrencies. This change of position comes after Putin demanded showing up at an agreement in regards to this.<\/p>\n\n\n\n

Putin has recognized that, although cryptocurrencies convey a specific measure of hazard coming from its volatility, digital currency mining guarantees a ton of upper hand to the country.<\/p>\n\n\n\n

Since Russia enjoys the benefit of having the option to give cheap power, it will remain the third-biggest country for crypto mining.<\/p>\n\n\n\n

\"Regulation will only provide the transparency that will ensure the protection of citizens.\"<\/strong><\/em><\/p>Ivan Chebeskov, Head Of The Financial Policy Department<\/cite><\/blockquote>\n\n\n\n

<\/p>\n","post_title":"Will Russia Ban Bitcoin? Likely Not; Here's Why...","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"will-russia-ban-bitcoin-likely-not-heres-why","to_ping":"","pinged":"","post_modified":"2023-04-11 12:56:24","post_modified_gmt":"2023-04-11 02:56:24","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3341","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"};

1 2

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

It will seek to provide a regulatory framework within the cryptocurrency markets having with an emphasis on violations and dangers within the industry.<\/p>\n\n\n\n

The roadmap goes against the recently proposed blanket ban on cryptocurrencies - as per the Russian Central Bank. Suggesting that crypto-related activities such as payments, exchange, and mining be banned, as it risks financial stability for the citizens of the nation.<\/p>\n\n\n\n

What Do Russia's Regulations Entail?<\/h2>\n\n\n\n

The National Bank, through this guide, advocates having an administrative and prohibitive system for cryptocurrencies. This change of position comes after Putin demanded showing up at an agreement in regards to this.<\/p>\n\n\n\n

Putin has recognized that, although cryptocurrencies convey a specific measure of hazard coming from its volatility, digital currency mining guarantees a ton of upper hand to the country.<\/p>\n\n\n\n

Since Russia enjoys the benefit of having the option to give cheap power, it will remain the third-biggest country for crypto mining.<\/p>\n\n\n\n

\"Regulation will only provide the transparency that will ensure the protection of citizens.\"<\/strong><\/em><\/p>Ivan Chebeskov, Head Of The Financial Policy Department<\/cite><\/blockquote>\n\n\n\n

<\/p>\n","post_title":"Will Russia Ban Bitcoin? Likely Not; Here's Why...","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"will-russia-ban-bitcoin-likely-not-heres-why","to_ping":"","pinged":"","post_modified":"2023-04-11 12:56:24","post_modified_gmt":"2023-04-11 02:56:24","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3341","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"};

1 2

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

The roadmap presented by the Russian Government and approved by Deputy Chairman Dmitry Chernyshenko will work to ease the adoption of cryptocurrencies while halting financial instability. <\/p>\n\n\n\n

It will seek to provide a regulatory framework within the cryptocurrency markets having with an emphasis on violations and dangers within the industry.<\/p>\n\n\n\n

The roadmap goes against the recently proposed blanket ban on cryptocurrencies - as per the Russian Central Bank. Suggesting that crypto-related activities such as payments, exchange, and mining be banned, as it risks financial stability for the citizens of the nation.<\/p>\n\n\n\n

What Do Russia's Regulations Entail?<\/h2>\n\n\n\n

The National Bank, through this guide, advocates having an administrative and prohibitive system for cryptocurrencies. This change of position comes after Putin demanded showing up at an agreement in regards to this.<\/p>\n\n\n\n

Putin has recognized that, although cryptocurrencies convey a specific measure of hazard coming from its volatility, digital currency mining guarantees a ton of upper hand to the country.<\/p>\n\n\n\n

Since Russia enjoys the benefit of having the option to give cheap power, it will remain the third-biggest country for crypto mining.<\/p>\n\n\n\n

\"Regulation will only provide the transparency that will ensure the protection of citizens.\"<\/strong><\/em><\/p>Ivan Chebeskov, Head Of The Financial Policy Department<\/cite><\/blockquote>\n\n\n\n

<\/p>\n","post_title":"Will Russia Ban Bitcoin? Likely Not; Here's Why...","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"will-russia-ban-bitcoin-likely-not-heres-why","to_ping":"","pinged":"","post_modified":"2023-04-11 12:56:24","post_modified_gmt":"2023-04-11 02:56:24","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3341","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"};

1 2

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

The Russian Government has started the development of a guide that will present limitations on cryptocurrencies.<\/p>\n\n\n\n

The roadmap presented by the Russian Government and approved by Deputy Chairman Dmitry Chernyshenko will work to ease the adoption of cryptocurrencies while halting financial instability. <\/p>\n\n\n\n

It will seek to provide a regulatory framework within the cryptocurrency markets having with an emphasis on violations and dangers within the industry.<\/p>\n\n\n\n

The roadmap goes against the recently proposed blanket ban on cryptocurrencies - as per the Russian Central Bank. Suggesting that crypto-related activities such as payments, exchange, and mining be banned, as it risks financial stability for the citizens of the nation.<\/p>\n\n\n\n

What Do Russia's Regulations Entail?<\/h2>\n\n\n\n

The National Bank, through this guide, advocates having an administrative and prohibitive system for cryptocurrencies. This change of position comes after Putin demanded showing up at an agreement in regards to this.<\/p>\n\n\n\n

Putin has recognized that, although cryptocurrencies convey a specific measure of hazard coming from its volatility, digital currency mining guarantees a ton of upper hand to the country.<\/p>\n\n\n\n

Since Russia enjoys the benefit of having the option to give cheap power, it will remain the third-biggest country for crypto mining.<\/p>\n\n\n\n

\"Regulation will only provide the transparency that will ensure the protection of citizens.\"<\/strong><\/em><\/p>Ivan Chebeskov, Head Of The Financial Policy Department<\/cite><\/blockquote>\n\n\n\n

<\/p>\n","post_title":"Will Russia Ban Bitcoin? Likely Not; Here's Why...","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"will-russia-ban-bitcoin-likely-not-heres-why","to_ping":"","pinged":"","post_modified":"2023-04-11 12:56:24","post_modified_gmt":"2023-04-11 02:56:24","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3341","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"};

1 2

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

The statistics offer a snapshot of how widespread cryptocurrency investing has become in Russia being the\u00a0third-biggest<\/a>\u00a0Bitcoin miner in the world, as officials at the central bank push for a blanket ban on the local industry, while the government pursues a softer approach.((https:\/\/www.bloomberg.com\/news\/articles\/2022-02-01\/russia-values-local-crypto-market-at-200-billion-as-rules-near))\u00a0<\/p>\n","post_title":"Russians Own 12% Of The Worlds Cryptocurrencies","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"russians-own-12-of-the-worlds-cryptocurrencies","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/will-russia-ban-bitcoin-likely-not-heres-why\/","post_modified":"2023-04-30 21:39:59","post_modified_gmt":"2023-04-30 11:39:59","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3439","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3341,"post_author":"1","post_date":"2022-01-31 22:09:02","post_date_gmt":"2022-01-31 11:09:02","post_content":"\n

The Russian Government has started the development of a guide that will present limitations on cryptocurrencies.<\/p>\n\n\n\n

The roadmap presented by the Russian Government and approved by Deputy Chairman Dmitry Chernyshenko will work to ease the adoption of cryptocurrencies while halting financial instability. <\/p>\n\n\n\n

It will seek to provide a regulatory framework within the cryptocurrency markets having with an emphasis on violations and dangers within the industry.<\/p>\n\n\n\n

The roadmap goes against the recently proposed blanket ban on cryptocurrencies - as per the Russian Central Bank. Suggesting that crypto-related activities such as payments, exchange, and mining be banned, as it risks financial stability for the citizens of the nation.<\/p>\n\n\n\n

What Do Russia's Regulations Entail?<\/h2>\n\n\n\n

The National Bank, through this guide, advocates having an administrative and prohibitive system for cryptocurrencies. This change of position comes after Putin demanded showing up at an agreement in regards to this.<\/p>\n\n\n\n

Putin has recognized that, although cryptocurrencies convey a specific measure of hazard coming from its volatility, digital currency mining guarantees a ton of upper hand to the country.<\/p>\n\n\n\n

Since Russia enjoys the benefit of having the option to give cheap power, it will remain the third-biggest country for crypto mining.<\/p>\n\n\n\n

\"Regulation will only provide the transparency that will ensure the protection of citizens.\"<\/strong><\/em><\/p>Ivan Chebeskov, Head Of The Financial Policy Department<\/cite><\/blockquote>\n\n\n\n

<\/p>\n","post_title":"Will Russia Ban Bitcoin? Likely Not; Here's Why...","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"will-russia-ban-bitcoin-likely-not-heres-why","to_ping":"","pinged":"","post_modified":"2023-04-11 12:56:24","post_modified_gmt":"2023-04-11 02:56:24","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3341","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"};

1 2

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

\u201cRussians really do have a lot of money in cryptocurrency, but it\u2019s hard to value the true amount...many people are using cash, derivative instruments, or have two passports and can open a crypto wallet in someone else\u2019s name.\u201d<\/em><\/strong><\/p>Alexander Filatov, Co-Founder and CEO of TON Labs<\/a><\/cite><\/blockquote>\n\n\n\n

The statistics offer a snapshot of how widespread cryptocurrency investing has become in Russia being the\u00a0third-biggest<\/a>\u00a0Bitcoin miner in the world, as officials at the central bank push for a blanket ban on the local industry, while the government pursues a softer approach.((https:\/\/www.bloomberg.com\/news\/articles\/2022-02-01\/russia-values-local-crypto-market-at-200-billion-as-rules-near))\u00a0<\/p>\n","post_title":"Russians Own 12% Of The Worlds Cryptocurrencies","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"russians-own-12-of-the-worlds-cryptocurrencies","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/will-russia-ban-bitcoin-likely-not-heres-why\/","post_modified":"2023-04-30 21:39:59","post_modified_gmt":"2023-04-30 11:39:59","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3439","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3341,"post_author":"1","post_date":"2022-01-31 22:09:02","post_date_gmt":"2022-01-31 11:09:02","post_content":"\n

The Russian Government has started the development of a guide that will present limitations on cryptocurrencies.<\/p>\n\n\n\n

The roadmap presented by the Russian Government and approved by Deputy Chairman Dmitry Chernyshenko will work to ease the adoption of cryptocurrencies while halting financial instability. <\/p>\n\n\n\n

It will seek to provide a regulatory framework within the cryptocurrency markets having with an emphasis on violations and dangers within the industry.<\/p>\n\n\n\n

The roadmap goes against the recently proposed blanket ban on cryptocurrencies - as per the Russian Central Bank. Suggesting that crypto-related activities such as payments, exchange, and mining be banned, as it risks financial stability for the citizens of the nation.<\/p>\n\n\n\n

What Do Russia's Regulations Entail?<\/h2>\n\n\n\n

The National Bank, through this guide, advocates having an administrative and prohibitive system for cryptocurrencies. This change of position comes after Putin demanded showing up at an agreement in regards to this.<\/p>\n\n\n\n

Putin has recognized that, although cryptocurrencies convey a specific measure of hazard coming from its volatility, digital currency mining guarantees a ton of upper hand to the country.<\/p>\n\n\n\n

Since Russia enjoys the benefit of having the option to give cheap power, it will remain the third-biggest country for crypto mining.<\/p>\n\n\n\n

\"Regulation will only provide the transparency that will ensure the protection of citizens.\"<\/strong><\/em><\/p>Ivan Chebeskov, Head Of The Financial Policy Department<\/cite><\/blockquote>\n\n\n\n

<\/p>\n","post_title":"Will Russia Ban Bitcoin? Likely Not; Here's Why...","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"will-russia-ban-bitcoin-likely-not-heres-why","to_ping":"","pinged":"","post_modified":"2023-04-11 12:56:24","post_modified_gmt":"2023-04-11 02:56:24","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3341","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"};

1 2

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

The data comes after the Russian government had decided to regulate<\/a> rather than ban cryptocurrencies. The analysis will help articulate an overview of the market to assist in their regulations and should be taken with a grain of salt because of the anonymous nature of cryptocurrencies in general.<\/p>\n\n\n\n

\u201cRussians really do have a lot of money in cryptocurrency, but it\u2019s hard to value the true amount...many people are using cash, derivative instruments, or have two passports and can open a crypto wallet in someone else\u2019s name.\u201d<\/em><\/strong><\/p>Alexander Filatov, Co-Founder and CEO of TON Labs<\/a><\/cite><\/blockquote>\n\n\n\n

The statistics offer a snapshot of how widespread cryptocurrency investing has become in Russia being the\u00a0third-biggest<\/a>\u00a0Bitcoin miner in the world, as officials at the central bank push for a blanket ban on the local industry, while the government pursues a softer approach.((https:\/\/www.bloomberg.com\/news\/articles\/2022-02-01\/russia-values-local-crypto-market-at-200-billion-as-rules-near))\u00a0<\/p>\n","post_title":"Russians Own 12% Of The Worlds Cryptocurrencies","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"russians-own-12-of-the-worlds-cryptocurrencies","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/will-russia-ban-bitcoin-likely-not-heres-why\/","post_modified":"2023-04-30 21:39:59","post_modified_gmt":"2023-04-30 11:39:59","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3439","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3341,"post_author":"1","post_date":"2022-01-31 22:09:02","post_date_gmt":"2022-01-31 11:09:02","post_content":"\n

The Russian Government has started the development of a guide that will present limitations on cryptocurrencies.<\/p>\n\n\n\n

The roadmap presented by the Russian Government and approved by Deputy Chairman Dmitry Chernyshenko will work to ease the adoption of cryptocurrencies while halting financial instability. <\/p>\n\n\n\n

It will seek to provide a regulatory framework within the cryptocurrency markets having with an emphasis on violations and dangers within the industry.<\/p>\n\n\n\n

The roadmap goes against the recently proposed blanket ban on cryptocurrencies - as per the Russian Central Bank. Suggesting that crypto-related activities such as payments, exchange, and mining be banned, as it risks financial stability for the citizens of the nation.<\/p>\n\n\n\n

What Do Russia's Regulations Entail?<\/h2>\n\n\n\n

The National Bank, through this guide, advocates having an administrative and prohibitive system for cryptocurrencies. This change of position comes after Putin demanded showing up at an agreement in regards to this.<\/p>\n\n\n\n

Putin has recognized that, although cryptocurrencies convey a specific measure of hazard coming from its volatility, digital currency mining guarantees a ton of upper hand to the country.<\/p>\n\n\n\n

Since Russia enjoys the benefit of having the option to give cheap power, it will remain the third-biggest country for crypto mining.<\/p>\n\n\n\n

\"Regulation will only provide the transparency that will ensure the protection of citizens.\"<\/strong><\/em><\/p>Ivan Chebeskov, Head Of The Financial Policy Department<\/cite><\/blockquote>\n\n\n\n

<\/p>\n","post_title":"Will Russia Ban Bitcoin? Likely Not; Here's Why...","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"will-russia-ban-bitcoin-likely-not-heres-why","to_ping":"","pinged":"","post_modified":"2023-04-11 12:56:24","post_modified_gmt":"2023-04-11 02:56:24","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3341","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"};

1 2

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

The data coming from the Kremlin and government officials out of Moscow was articulated from analyzing the IP addresses of the most prominent exchange users out of the country along with various other data points, as stated by two officials from Kremlin.<\/p>\n\n\n\n

The data comes after the Russian government had decided to regulate<\/a> rather than ban cryptocurrencies. The analysis will help articulate an overview of the market to assist in their regulations and should be taken with a grain of salt because of the anonymous nature of cryptocurrencies in general.<\/p>\n\n\n\n

\u201cRussians really do have a lot of money in cryptocurrency, but it\u2019s hard to value the true amount...many people are using cash, derivative instruments, or have two passports and can open a crypto wallet in someone else\u2019s name.\u201d<\/em><\/strong><\/p>Alexander Filatov, Co-Founder and CEO of TON Labs<\/a><\/cite><\/blockquote>\n\n\n\n

The statistics offer a snapshot of how widespread cryptocurrency investing has become in Russia being the\u00a0third-biggest<\/a>\u00a0Bitcoin miner in the world, as officials at the central bank push for a blanket ban on the local industry, while the government pursues a softer approach.((https:\/\/www.bloomberg.com\/news\/articles\/2022-02-01\/russia-values-local-crypto-market-at-200-billion-as-rules-near))\u00a0<\/p>\n","post_title":"Russians Own 12% Of The Worlds Cryptocurrencies","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"russians-own-12-of-the-worlds-cryptocurrencies","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/will-russia-ban-bitcoin-likely-not-heres-why\/","post_modified":"2023-04-30 21:39:59","post_modified_gmt":"2023-04-30 11:39:59","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3439","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3341,"post_author":"1","post_date":"2022-01-31 22:09:02","post_date_gmt":"2022-01-31 11:09:02","post_content":"\n

The Russian Government has started the development of a guide that will present limitations on cryptocurrencies.<\/p>\n\n\n\n

The roadmap presented by the Russian Government and approved by Deputy Chairman Dmitry Chernyshenko will work to ease the adoption of cryptocurrencies while halting financial instability. <\/p>\n\n\n\n

It will seek to provide a regulatory framework within the cryptocurrency markets having with an emphasis on violations and dangers within the industry.<\/p>\n\n\n\n

The roadmap goes against the recently proposed blanket ban on cryptocurrencies - as per the Russian Central Bank. Suggesting that crypto-related activities such as payments, exchange, and mining be banned, as it risks financial stability for the citizens of the nation.<\/p>\n\n\n\n

What Do Russia's Regulations Entail?<\/h2>\n\n\n\n

The National Bank, through this guide, advocates having an administrative and prohibitive system for cryptocurrencies. This change of position comes after Putin demanded showing up at an agreement in regards to this.<\/p>\n\n\n\n

Putin has recognized that, although cryptocurrencies convey a specific measure of hazard coming from its volatility, digital currency mining guarantees a ton of upper hand to the country.<\/p>\n\n\n\n

Since Russia enjoys the benefit of having the option to give cheap power, it will remain the third-biggest country for crypto mining.<\/p>\n\n\n\n

\"Regulation will only provide the transparency that will ensure the protection of citizens.\"<\/strong><\/em><\/p>Ivan Chebeskov, Head Of The Financial Policy Department<\/cite><\/blockquote>\n\n\n\n

<\/p>\n","post_title":"Will Russia Ban Bitcoin? Likely Not; Here's Why...","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"will-russia-ban-bitcoin-likely-not-heres-why","to_ping":"","pinged":"","post_modified":"2023-04-11 12:56:24","post_modified_gmt":"2023-04-11 02:56:24","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3341","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"};

1 2

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

Russians own over $214 Billion worth, or 12% of the total value<\/a> of cryptocurrencies worldwide, according to a Bloomberg report<\/a>. <\/p>\n\n\n\n

The data coming from the Kremlin and government officials out of Moscow was articulated from analyzing the IP addresses of the most prominent exchange users out of the country along with various other data points, as stated by two officials from Kremlin.<\/p>\n\n\n\n

The data comes after the Russian government had decided to regulate<\/a> rather than ban cryptocurrencies. The analysis will help articulate an overview of the market to assist in their regulations and should be taken with a grain of salt because of the anonymous nature of cryptocurrencies in general.<\/p>\n\n\n\n

\u201cRussians really do have a lot of money in cryptocurrency, but it\u2019s hard to value the true amount...many people are using cash, derivative instruments, or have two passports and can open a crypto wallet in someone else\u2019s name.\u201d<\/em><\/strong><\/p>Alexander Filatov, Co-Founder and CEO of TON Labs<\/a><\/cite><\/blockquote>\n\n\n\n

The statistics offer a snapshot of how widespread cryptocurrency investing has become in Russia being the\u00a0third-biggest<\/a>\u00a0Bitcoin miner in the world, as officials at the central bank push for a blanket ban on the local industry, while the government pursues a softer approach.((https:\/\/www.bloomberg.com\/news\/articles\/2022-02-01\/russia-values-local-crypto-market-at-200-billion-as-rules-near))\u00a0<\/p>\n","post_title":"Russians Own 12% Of The Worlds Cryptocurrencies","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"russians-own-12-of-the-worlds-cryptocurrencies","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/will-russia-ban-bitcoin-likely-not-heres-why\/","post_modified":"2023-04-30 21:39:59","post_modified_gmt":"2023-04-30 11:39:59","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3439","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3341,"post_author":"1","post_date":"2022-01-31 22:09:02","post_date_gmt":"2022-01-31 11:09:02","post_content":"\n

The Russian Government has started the development of a guide that will present limitations on cryptocurrencies.<\/p>\n\n\n\n

The roadmap presented by the Russian Government and approved by Deputy Chairman Dmitry Chernyshenko will work to ease the adoption of cryptocurrencies while halting financial instability. <\/p>\n\n\n\n

It will seek to provide a regulatory framework within the cryptocurrency markets having with an emphasis on violations and dangers within the industry.<\/p>\n\n\n\n

The roadmap goes against the recently proposed blanket ban on cryptocurrencies - as per the Russian Central Bank. Suggesting that crypto-related activities such as payments, exchange, and mining be banned, as it risks financial stability for the citizens of the nation.<\/p>\n\n\n\n

What Do Russia's Regulations Entail?<\/h2>\n\n\n\n

The National Bank, through this guide, advocates having an administrative and prohibitive system for cryptocurrencies. This change of position comes after Putin demanded showing up at an agreement in regards to this.<\/p>\n\n\n\n

Putin has recognized that, although cryptocurrencies convey a specific measure of hazard coming from its volatility, digital currency mining guarantees a ton of upper hand to the country.<\/p>\n\n\n\n

Since Russia enjoys the benefit of having the option to give cheap power, it will remain the third-biggest country for crypto mining.<\/p>\n\n\n\n

\"Regulation will only provide the transparency that will ensure the protection of citizens.\"<\/strong><\/em><\/p>Ivan Chebeskov, Head Of The Financial Policy Department<\/cite><\/blockquote>\n\n\n\n

<\/p>\n","post_title":"Will Russia Ban Bitcoin? Likely Not; Here's Why...","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"will-russia-ban-bitcoin-likely-not-heres-why","to_ping":"","pinged":"","post_modified":"2023-04-11 12:56:24","post_modified_gmt":"2023-04-11 02:56:24","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3341","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"};

1 2

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

As Matolscy stated above, the growth and market value of cryptocurrencies is defined by speculative demand for future growth, is the support for the ban just a way to see if other countries can manage and regulate cryptocurrencies before he makes a decision on what to do, or is it another technology that isn't fully understood?<\/p>\n","post_title":"Hungarian Central Bank In Support Of Russian Crypto Ban","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"hungarian-central-bank-in-support-of-russian-crypto-ban","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/will-russia-ban-bitcoin-likely-not-heres-why\/","post_modified":"2022-02-12 17:07:44","post_modified_gmt":"2022-02-12 06:07:44","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3453","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3439,"post_author":"1","post_date":"2022-02-10 21:26:57","post_date_gmt":"2022-02-10 10:26:57","post_content":"\n

Russians own over $214 Billion worth, or 12% of the total value<\/a> of cryptocurrencies worldwide, according to a Bloomberg report<\/a>. <\/p>\n\n\n\n

The data coming from the Kremlin and government officials out of Moscow was articulated from analyzing the IP addresses of the most prominent exchange users out of the country along with various other data points, as stated by two officials from Kremlin.<\/p>\n\n\n\n

The data comes after the Russian government had decided to regulate<\/a> rather than ban cryptocurrencies. The analysis will help articulate an overview of the market to assist in their regulations and should be taken with a grain of salt because of the anonymous nature of cryptocurrencies in general.<\/p>\n\n\n\n

\u201cRussians really do have a lot of money in cryptocurrency, but it\u2019s hard to value the true amount...many people are using cash, derivative instruments, or have two passports and can open a crypto wallet in someone else\u2019s name.\u201d<\/em><\/strong><\/p>Alexander Filatov, Co-Founder and CEO of TON Labs<\/a><\/cite><\/blockquote>\n\n\n\n

The statistics offer a snapshot of how widespread cryptocurrency investing has become in Russia being the\u00a0third-biggest<\/a>\u00a0Bitcoin miner in the world, as officials at the central bank push for a blanket ban on the local industry, while the government pursues a softer approach.((https:\/\/www.bloomberg.com\/news\/articles\/2022-02-01\/russia-values-local-crypto-market-at-200-billion-as-rules-near))\u00a0<\/p>\n","post_title":"Russians Own 12% Of The Worlds Cryptocurrencies","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"russians-own-12-of-the-worlds-cryptocurrencies","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/will-russia-ban-bitcoin-likely-not-heres-why\/","post_modified":"2023-04-30 21:39:59","post_modified_gmt":"2023-04-30 11:39:59","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3439","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3341,"post_author":"1","post_date":"2022-01-31 22:09:02","post_date_gmt":"2022-01-31 11:09:02","post_content":"\n

The Russian Government has started the development of a guide that will present limitations on cryptocurrencies.<\/p>\n\n\n\n

The roadmap presented by the Russian Government and approved by Deputy Chairman Dmitry Chernyshenko will work to ease the adoption of cryptocurrencies while halting financial instability. <\/p>\n\n\n\n

It will seek to provide a regulatory framework within the cryptocurrency markets having with an emphasis on violations and dangers within the industry.<\/p>\n\n\n\n

The roadmap goes against the recently proposed blanket ban on cryptocurrencies - as per the Russian Central Bank. Suggesting that crypto-related activities such as payments, exchange, and mining be banned, as it risks financial stability for the citizens of the nation.<\/p>\n\n\n\n

What Do Russia's Regulations Entail?<\/h2>\n\n\n\n

The National Bank, through this guide, advocates having an administrative and prohibitive system for cryptocurrencies. This change of position comes after Putin demanded showing up at an agreement in regards to this.<\/p>\n\n\n\n

Putin has recognized that, although cryptocurrencies convey a specific measure of hazard coming from its volatility, digital currency mining guarantees a ton of upper hand to the country.<\/p>\n\n\n\n

Since Russia enjoys the benefit of having the option to give cheap power, it will remain the third-biggest country for crypto mining.<\/p>\n\n\n\n

\"Regulation will only provide the transparency that will ensure the protection of citizens.\"<\/strong><\/em><\/p>Ivan Chebeskov, Head Of The Financial Policy Department<\/cite><\/blockquote>\n\n\n\n

<\/p>\n","post_title":"Will Russia Ban Bitcoin? Likely Not; Here's Why...","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"will-russia-ban-bitcoin-likely-not-heres-why","to_ping":"","pinged":"","post_modified":"2023-04-11 12:56:24","post_modified_gmt":"2023-04-11 02:56:24","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3341","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"};

1 2

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

It seems that he is in support of banning it from the EU, but not worldwide. \"EU citizens and companies would be allowed to own cryptocurrencies abroad and regulators will track their holdings.\" <\/p>\n\n\n\n

As Matolscy stated above, the growth and market value of cryptocurrencies is defined by speculative demand for future growth, is the support for the ban just a way to see if other countries can manage and regulate cryptocurrencies before he makes a decision on what to do, or is it another technology that isn't fully understood?<\/p>\n","post_title":"Hungarian Central Bank In Support Of Russian Crypto Ban","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"hungarian-central-bank-in-support-of-russian-crypto-ban","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/will-russia-ban-bitcoin-likely-not-heres-why\/","post_modified":"2022-02-12 17:07:44","post_modified_gmt":"2022-02-12 06:07:44","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3453","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3439,"post_author":"1","post_date":"2022-02-10 21:26:57","post_date_gmt":"2022-02-10 10:26:57","post_content":"\n

Russians own over $214 Billion worth, or 12% of the total value<\/a> of cryptocurrencies worldwide, according to a Bloomberg report<\/a>. <\/p>\n\n\n\n

The data coming from the Kremlin and government officials out of Moscow was articulated from analyzing the IP addresses of the most prominent exchange users out of the country along with various other data points, as stated by two officials from Kremlin.<\/p>\n\n\n\n

The data comes after the Russian government had decided to regulate<\/a> rather than ban cryptocurrencies. The analysis will help articulate an overview of the market to assist in their regulations and should be taken with a grain of salt because of the anonymous nature of cryptocurrencies in general.<\/p>\n\n\n\n

\u201cRussians really do have a lot of money in cryptocurrency, but it\u2019s hard to value the true amount...many people are using cash, derivative instruments, or have two passports and can open a crypto wallet in someone else\u2019s name.\u201d<\/em><\/strong><\/p>Alexander Filatov, Co-Founder and CEO of TON Labs<\/a><\/cite><\/blockquote>\n\n\n\n

The statistics offer a snapshot of how widespread cryptocurrency investing has become in Russia being the\u00a0third-biggest<\/a>\u00a0Bitcoin miner in the world, as officials at the central bank push for a blanket ban on the local industry, while the government pursues a softer approach.((https:\/\/www.bloomberg.com\/news\/articles\/2022-02-01\/russia-values-local-crypto-market-at-200-billion-as-rules-near))\u00a0<\/p>\n","post_title":"Russians Own 12% Of The Worlds Cryptocurrencies","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"russians-own-12-of-the-worlds-cryptocurrencies","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/will-russia-ban-bitcoin-likely-not-heres-why\/","post_modified":"2023-04-30 21:39:59","post_modified_gmt":"2023-04-30 11:39:59","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3439","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3341,"post_author":"1","post_date":"2022-01-31 22:09:02","post_date_gmt":"2022-01-31 11:09:02","post_content":"\n

The Russian Government has started the development of a guide that will present limitations on cryptocurrencies.<\/p>\n\n\n\n

The roadmap presented by the Russian Government and approved by Deputy Chairman Dmitry Chernyshenko will work to ease the adoption of cryptocurrencies while halting financial instability. <\/p>\n\n\n\n

It will seek to provide a regulatory framework within the cryptocurrency markets having with an emphasis on violations and dangers within the industry.<\/p>\n\n\n\n

The roadmap goes against the recently proposed blanket ban on cryptocurrencies - as per the Russian Central Bank. Suggesting that crypto-related activities such as payments, exchange, and mining be banned, as it risks financial stability for the citizens of the nation.<\/p>\n\n\n\n

What Do Russia's Regulations Entail?<\/h2>\n\n\n\n

The National Bank, through this guide, advocates having an administrative and prohibitive system for cryptocurrencies. This change of position comes after Putin demanded showing up at an agreement in regards to this.<\/p>\n\n\n\n

Putin has recognized that, although cryptocurrencies convey a specific measure of hazard coming from its volatility, digital currency mining guarantees a ton of upper hand to the country.<\/p>\n\n\n\n

Since Russia enjoys the benefit of having the option to give cheap power, it will remain the third-biggest country for crypto mining.<\/p>\n\n\n\n

\"Regulation will only provide the transparency that will ensure the protection of citizens.\"<\/strong><\/em><\/p>Ivan Chebeskov, Head Of The Financial Policy Department<\/cite><\/blockquote>\n\n\n\n

<\/p>\n","post_title":"Will Russia Ban Bitcoin? Likely Not; Here's Why...","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"will-russia-ban-bitcoin-likely-not-heres-why","to_ping":"","pinged":"","post_modified":"2023-04-11 12:56:24","post_modified_gmt":"2023-04-11 02:56:24","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3341","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"};

1 2

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

He also added that the \"growth and market value of cryptocurrencies is defined primarily by speculative demand for future growth, which creates bubbles.\u201d Calling for unity within the EU, Matolcsy wants the EU to \"act together\" in order to preempt the building up of \"new financial pyramids and financial bubbles.\"<\/p>\n\n\n\n

It seems that he is in support of banning it from the EU, but not worldwide. \"EU citizens and companies would be allowed to own cryptocurrencies abroad and regulators will track their holdings.\" <\/p>\n\n\n\n

As Matolscy stated above, the growth and market value of cryptocurrencies is defined by speculative demand for future growth, is the support for the ban just a way to see if other countries can manage and regulate cryptocurrencies before he makes a decision on what to do, or is it another technology that isn't fully understood?<\/p>\n","post_title":"Hungarian Central Bank In Support Of Russian Crypto Ban","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"hungarian-central-bank-in-support-of-russian-crypto-ban","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/will-russia-ban-bitcoin-likely-not-heres-why\/","post_modified":"2022-02-12 17:07:44","post_modified_gmt":"2022-02-12 06:07:44","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3453","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3439,"post_author":"1","post_date":"2022-02-10 21:26:57","post_date_gmt":"2022-02-10 10:26:57","post_content":"\n

Russians own over $214 Billion worth, or 12% of the total value<\/a> of cryptocurrencies worldwide, according to a Bloomberg report<\/a>. <\/p>\n\n\n\n

The data coming from the Kremlin and government officials out of Moscow was articulated from analyzing the IP addresses of the most prominent exchange users out of the country along with various other data points, as stated by two officials from Kremlin.<\/p>\n\n\n\n

The data comes after the Russian government had decided to regulate<\/a> rather than ban cryptocurrencies. The analysis will help articulate an overview of the market to assist in their regulations and should be taken with a grain of salt because of the anonymous nature of cryptocurrencies in general.<\/p>\n\n\n\n

\u201cRussians really do have a lot of money in cryptocurrency, but it\u2019s hard to value the true amount...many people are using cash, derivative instruments, or have two passports and can open a crypto wallet in someone else\u2019s name.\u201d<\/em><\/strong><\/p>Alexander Filatov, Co-Founder and CEO of TON Labs<\/a><\/cite><\/blockquote>\n\n\n\n

The statistics offer a snapshot of how widespread cryptocurrency investing has become in Russia being the\u00a0third-biggest<\/a>\u00a0Bitcoin miner in the world, as officials at the central bank push for a blanket ban on the local industry, while the government pursues a softer approach.((https:\/\/www.bloomberg.com\/news\/articles\/2022-02-01\/russia-values-local-crypto-market-at-200-billion-as-rules-near))\u00a0<\/p>\n","post_title":"Russians Own 12% Of The Worlds Cryptocurrencies","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"russians-own-12-of-the-worlds-cryptocurrencies","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/will-russia-ban-bitcoin-likely-not-heres-why\/","post_modified":"2023-04-30 21:39:59","post_modified_gmt":"2023-04-30 11:39:59","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3439","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3341,"post_author":"1","post_date":"2022-01-31 22:09:02","post_date_gmt":"2022-01-31 11:09:02","post_content":"\n

The Russian Government has started the development of a guide that will present limitations on cryptocurrencies.<\/p>\n\n\n\n

The roadmap presented by the Russian Government and approved by Deputy Chairman Dmitry Chernyshenko will work to ease the adoption of cryptocurrencies while halting financial instability. <\/p>\n\n\n\n

It will seek to provide a regulatory framework within the cryptocurrency markets having with an emphasis on violations and dangers within the industry.<\/p>\n\n\n\n

The roadmap goes against the recently proposed blanket ban on cryptocurrencies - as per the Russian Central Bank. Suggesting that crypto-related activities such as payments, exchange, and mining be banned, as it risks financial stability for the citizens of the nation.<\/p>\n\n\n\n

What Do Russia's Regulations Entail?<\/h2>\n\n\n\n

The National Bank, through this guide, advocates having an administrative and prohibitive system for cryptocurrencies. This change of position comes after Putin demanded showing up at an agreement in regards to this.<\/p>\n\n\n\n

Putin has recognized that, although cryptocurrencies convey a specific measure of hazard coming from its volatility, digital currency mining guarantees a ton of upper hand to the country.<\/p>\n\n\n\n

Since Russia enjoys the benefit of having the option to give cheap power, it will remain the third-biggest country for crypto mining.<\/p>\n\n\n\n

\"Regulation will only provide the transparency that will ensure the protection of citizens.\"<\/strong><\/em><\/p>Ivan Chebeskov, Head Of The Financial Policy Department<\/cite><\/blockquote>\n\n\n\n

<\/p>\n","post_title":"Will Russia Ban Bitcoin? Likely Not; Here's Why...","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"will-russia-ban-bitcoin-likely-not-heres-why","to_ping":"","pinged":"","post_modified":"2023-04-11 12:56:24","post_modified_gmt":"2023-04-11 02:56:24","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3341","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"};

1 2

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

This comes after the recent news<\/a> that the Russian central bank was in support of banning the trading and mining of cryptocurrencies. Matolcsy stated<\/a> that \"it is clear-cut that cryptocurrencies could service illegal activities and tend to build up financial pyramids.\" <\/p>\n\n\n\n

He also added that the \"growth and market value of cryptocurrencies is defined primarily by speculative demand for future growth, which creates bubbles.\u201d Calling for unity within the EU, Matolcsy wants the EU to \"act together\" in order to preempt the building up of \"new financial pyramids and financial bubbles.\"<\/p>\n\n\n\n

It seems that he is in support of banning it from the EU, but not worldwide. \"EU citizens and companies would be allowed to own cryptocurrencies abroad and regulators will track their holdings.\" <\/p>\n\n\n\n

As Matolscy stated above, the growth and market value of cryptocurrencies is defined by speculative demand for future growth, is the support for the ban just a way to see if other countries can manage and regulate cryptocurrencies before he makes a decision on what to do, or is it another technology that isn't fully understood?<\/p>\n","post_title":"Hungarian Central Bank In Support Of Russian Crypto Ban","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"hungarian-central-bank-in-support-of-russian-crypto-ban","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/will-russia-ban-bitcoin-likely-not-heres-why\/","post_modified":"2022-02-12 17:07:44","post_modified_gmt":"2022-02-12 06:07:44","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3453","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3439,"post_author":"1","post_date":"2022-02-10 21:26:57","post_date_gmt":"2022-02-10 10:26:57","post_content":"\n

Russians own over $214 Billion worth, or 12% of the total value<\/a> of cryptocurrencies worldwide, according to a Bloomberg report<\/a>. <\/p>\n\n\n\n

The data coming from the Kremlin and government officials out of Moscow was articulated from analyzing the IP addresses of the most prominent exchange users out of the country along with various other data points, as stated by two officials from Kremlin.<\/p>\n\n\n\n

The data comes after the Russian government had decided to regulate<\/a> rather than ban cryptocurrencies. The analysis will help articulate an overview of the market to assist in their regulations and should be taken with a grain of salt because of the anonymous nature of cryptocurrencies in general.<\/p>\n\n\n\n

\u201cRussians really do have a lot of money in cryptocurrency, but it\u2019s hard to value the true amount...many people are using cash, derivative instruments, or have two passports and can open a crypto wallet in someone else\u2019s name.\u201d<\/em><\/strong><\/p>Alexander Filatov, Co-Founder and CEO of TON Labs<\/a><\/cite><\/blockquote>\n\n\n\n

The statistics offer a snapshot of how widespread cryptocurrency investing has become in Russia being the\u00a0third-biggest<\/a>\u00a0Bitcoin miner in the world, as officials at the central bank push for a blanket ban on the local industry, while the government pursues a softer approach.((https:\/\/www.bloomberg.com\/news\/articles\/2022-02-01\/russia-values-local-crypto-market-at-200-billion-as-rules-near))\u00a0<\/p>\n","post_title":"Russians Own 12% Of The Worlds Cryptocurrencies","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"russians-own-12-of-the-worlds-cryptocurrencies","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/will-russia-ban-bitcoin-likely-not-heres-why\/","post_modified":"2023-04-30 21:39:59","post_modified_gmt":"2023-04-30 11:39:59","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3439","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3341,"post_author":"1","post_date":"2022-01-31 22:09:02","post_date_gmt":"2022-01-31 11:09:02","post_content":"\n

The Russian Government has started the development of a guide that will present limitations on cryptocurrencies.<\/p>\n\n\n\n

The roadmap presented by the Russian Government and approved by Deputy Chairman Dmitry Chernyshenko will work to ease the adoption of cryptocurrencies while halting financial instability. <\/p>\n\n\n\n

It will seek to provide a regulatory framework within the cryptocurrency markets having with an emphasis on violations and dangers within the industry.<\/p>\n\n\n\n

The roadmap goes against the recently proposed blanket ban on cryptocurrencies - as per the Russian Central Bank. Suggesting that crypto-related activities such as payments, exchange, and mining be banned, as it risks financial stability for the citizens of the nation.<\/p>\n\n\n\n

What Do Russia's Regulations Entail?<\/h2>\n\n\n\n

The National Bank, through this guide, advocates having an administrative and prohibitive system for cryptocurrencies. This change of position comes after Putin demanded showing up at an agreement in regards to this.<\/p>\n\n\n\n

Putin has recognized that, although cryptocurrencies convey a specific measure of hazard coming from its volatility, digital currency mining guarantees a ton of upper hand to the country.<\/p>\n\n\n\n

Since Russia enjoys the benefit of having the option to give cheap power, it will remain the third-biggest country for crypto mining.<\/p>\n\n\n\n

\"Regulation will only provide the transparency that will ensure the protection of citizens.\"<\/strong><\/em><\/p>Ivan Chebeskov, Head Of The Financial Policy Department<\/cite><\/blockquote>\n\n\n\n

<\/p>\n","post_title":"Will Russia Ban Bitcoin? Likely Not; Here's Why...","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"will-russia-ban-bitcoin-likely-not-heres-why","to_ping":"","pinged":"","post_modified":"2023-04-11 12:56:24","post_modified_gmt":"2023-04-11 02:56:24","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3341","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"};

1 2

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

Gy\u00f6rgy Matolcsy, the governor of the Central Bank of Hungary is supporting the proposed crypto ban by the Russian Central Bank, expressing his agreement with the proposal to ban trading and mining of cryptocurrencies.<\/p>\n\n\n\n

This comes after the recent news<\/a> that the Russian central bank was in support of banning the trading and mining of cryptocurrencies. Matolcsy stated<\/a> that \"it is clear-cut that cryptocurrencies could service illegal activities and tend to build up financial pyramids.\" <\/p>\n\n\n\n

He also added that the \"growth and market value of cryptocurrencies is defined primarily by speculative demand for future growth, which creates bubbles.\u201d Calling for unity within the EU, Matolcsy wants the EU to \"act together\" in order to preempt the building up of \"new financial pyramids and financial bubbles.\"<\/p>\n\n\n\n

It seems that he is in support of banning it from the EU, but not worldwide. \"EU citizens and companies would be allowed to own cryptocurrencies abroad and regulators will track their holdings.\" <\/p>\n\n\n\n

As Matolscy stated above, the growth and market value of cryptocurrencies is defined by speculative demand for future growth, is the support for the ban just a way to see if other countries can manage and regulate cryptocurrencies before he makes a decision on what to do, or is it another technology that isn't fully understood?<\/p>\n","post_title":"Hungarian Central Bank In Support Of Russian Crypto Ban","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"hungarian-central-bank-in-support-of-russian-crypto-ban","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/will-russia-ban-bitcoin-likely-not-heres-why\/","post_modified":"2022-02-12 17:07:44","post_modified_gmt":"2022-02-12 06:07:44","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3453","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3439,"post_author":"1","post_date":"2022-02-10 21:26:57","post_date_gmt":"2022-02-10 10:26:57","post_content":"\n

Russians own over $214 Billion worth, or 12% of the total value<\/a> of cryptocurrencies worldwide, according to a Bloomberg report<\/a>. <\/p>\n\n\n\n

The data coming from the Kremlin and government officials out of Moscow was articulated from analyzing the IP addresses of the most prominent exchange users out of the country along with various other data points, as stated by two officials from Kremlin.<\/p>\n\n\n\n

The data comes after the Russian government had decided to regulate<\/a> rather than ban cryptocurrencies. The analysis will help articulate an overview of the market to assist in their regulations and should be taken with a grain of salt because of the anonymous nature of cryptocurrencies in general.<\/p>\n\n\n\n

\u201cRussians really do have a lot of money in cryptocurrency, but it\u2019s hard to value the true amount...many people are using cash, derivative instruments, or have two passports and can open a crypto wallet in someone else\u2019s name.\u201d<\/em><\/strong><\/p>Alexander Filatov, Co-Founder and CEO of TON Labs<\/a><\/cite><\/blockquote>\n\n\n\n

The statistics offer a snapshot of how widespread cryptocurrency investing has become in Russia being the\u00a0third-biggest<\/a>\u00a0Bitcoin miner in the world, as officials at the central bank push for a blanket ban on the local industry, while the government pursues a softer approach.((https:\/\/www.bloomberg.com\/news\/articles\/2022-02-01\/russia-values-local-crypto-market-at-200-billion-as-rules-near))\u00a0<\/p>\n","post_title":"Russians Own 12% Of The Worlds Cryptocurrencies","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"russians-own-12-of-the-worlds-cryptocurrencies","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/will-russia-ban-bitcoin-likely-not-heres-why\/","post_modified":"2023-04-30 21:39:59","post_modified_gmt":"2023-04-30 11:39:59","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3439","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3341,"post_author":"1","post_date":"2022-01-31 22:09:02","post_date_gmt":"2022-01-31 11:09:02","post_content":"\n

The Russian Government has started the development of a guide that will present limitations on cryptocurrencies.<\/p>\n\n\n\n

The roadmap presented by the Russian Government and approved by Deputy Chairman Dmitry Chernyshenko will work to ease the adoption of cryptocurrencies while halting financial instability. <\/p>\n\n\n\n

It will seek to provide a regulatory framework within the cryptocurrency markets having with an emphasis on violations and dangers within the industry.<\/p>\n\n\n\n

The roadmap goes against the recently proposed blanket ban on cryptocurrencies - as per the Russian Central Bank. Suggesting that crypto-related activities such as payments, exchange, and mining be banned, as it risks financial stability for the citizens of the nation.<\/p>\n\n\n\n

What Do Russia's Regulations Entail?<\/h2>\n\n\n\n

The National Bank, through this guide, advocates having an administrative and prohibitive system for cryptocurrencies. This change of position comes after Putin demanded showing up at an agreement in regards to this.<\/p>\n\n\n\n

Putin has recognized that, although cryptocurrencies convey a specific measure of hazard coming from its volatility, digital currency mining guarantees a ton of upper hand to the country.<\/p>\n\n\n\n

Since Russia enjoys the benefit of having the option to give cheap power, it will remain the third-biggest country for crypto mining.<\/p>\n\n\n\n

\"Regulation will only provide the transparency that will ensure the protection of citizens.\"<\/strong><\/em><\/p>Ivan Chebeskov, Head Of The Financial Policy Department<\/cite><\/blockquote>\n\n\n\n

<\/p>\n","post_title":"Will Russia Ban Bitcoin? Likely Not; Here's Why...","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"will-russia-ban-bitcoin-likely-not-heres-why","to_ping":"","pinged":"","post_modified":"2023-04-11 12:56:24","post_modified_gmt":"2023-04-11 02:56:24","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3341","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"};

1 2

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n
\nhttps:\/\/twitter.com\/AltcoinSherpa\/status\/1496685587822256130?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1496685587822256130%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fcointelegraph.com%2Fnews%2Fbitcoin-plunges-as-putin-announces-special-military-operation-in-ukraine\n<\/div><\/figure>\n","post_title":"Crypto Markets Collapse In Reaction To Russias War On Ukraine","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"crypto-markets-collapse-in-reaction-to-russias-war-on-ukraine","to_ping":"","pinged":"","post_modified":"2022-02-24 19:05:05","post_modified_gmt":"2022-02-24 08:05:05","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3581","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3453,"post_author":"1","post_date":"2022-02-12 17:06:40","post_date_gmt":"2022-02-12 06:06:40","post_content":"\n

Gy\u00f6rgy Matolcsy, the governor of the Central Bank of Hungary is supporting the proposed crypto ban by the Russian Central Bank, expressing his agreement with the proposal to ban trading and mining of cryptocurrencies.<\/p>\n\n\n\n

This comes after the recent news<\/a> that the Russian central bank was in support of banning the trading and mining of cryptocurrencies. Matolcsy stated<\/a> that \"it is clear-cut that cryptocurrencies could service illegal activities and tend to build up financial pyramids.\" <\/p>\n\n\n\n

He also added that the \"growth and market value of cryptocurrencies is defined primarily by speculative demand for future growth, which creates bubbles.\u201d Calling for unity within the EU, Matolcsy wants the EU to \"act together\" in order to preempt the building up of \"new financial pyramids and financial bubbles.\"<\/p>\n\n\n\n

It seems that he is in support of banning it from the EU, but not worldwide. \"EU citizens and companies would be allowed to own cryptocurrencies abroad and regulators will track their holdings.\" <\/p>\n\n\n\n

As Matolscy stated above, the growth and market value of cryptocurrencies is defined by speculative demand for future growth, is the support for the ban just a way to see if other countries can manage and regulate cryptocurrencies before he makes a decision on what to do, or is it another technology that isn't fully understood?<\/p>\n","post_title":"Hungarian Central Bank In Support Of Russian Crypto Ban","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"hungarian-central-bank-in-support-of-russian-crypto-ban","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/will-russia-ban-bitcoin-likely-not-heres-why\/","post_modified":"2022-02-12 17:07:44","post_modified_gmt":"2022-02-12 06:07:44","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3453","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3439,"post_author":"1","post_date":"2022-02-10 21:26:57","post_date_gmt":"2022-02-10 10:26:57","post_content":"\n

Russians own over $214 Billion worth, or 12% of the total value<\/a> of cryptocurrencies worldwide, according to a Bloomberg report<\/a>. <\/p>\n\n\n\n

The data coming from the Kremlin and government officials out of Moscow was articulated from analyzing the IP addresses of the most prominent exchange users out of the country along with various other data points, as stated by two officials from Kremlin.<\/p>\n\n\n\n

The data comes after the Russian government had decided to regulate<\/a> rather than ban cryptocurrencies. The analysis will help articulate an overview of the market to assist in their regulations and should be taken with a grain of salt because of the anonymous nature of cryptocurrencies in general.<\/p>\n\n\n\n

\u201cRussians really do have a lot of money in cryptocurrency, but it\u2019s hard to value the true amount...many people are using cash, derivative instruments, or have two passports and can open a crypto wallet in someone else\u2019s name.\u201d<\/em><\/strong><\/p>Alexander Filatov, Co-Founder and CEO of TON Labs<\/a><\/cite><\/blockquote>\n\n\n\n

The statistics offer a snapshot of how widespread cryptocurrency investing has become in Russia being the\u00a0third-biggest<\/a>\u00a0Bitcoin miner in the world, as officials at the central bank push for a blanket ban on the local industry, while the government pursues a softer approach.((https:\/\/www.bloomberg.com\/news\/articles\/2022-02-01\/russia-values-local-crypto-market-at-200-billion-as-rules-near))\u00a0<\/p>\n","post_title":"Russians Own 12% Of The Worlds Cryptocurrencies","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"russians-own-12-of-the-worlds-cryptocurrencies","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/will-russia-ban-bitcoin-likely-not-heres-why\/","post_modified":"2023-04-30 21:39:59","post_modified_gmt":"2023-04-30 11:39:59","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3439","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3341,"post_author":"1","post_date":"2022-01-31 22:09:02","post_date_gmt":"2022-01-31 11:09:02","post_content":"\n

The Russian Government has started the development of a guide that will present limitations on cryptocurrencies.<\/p>\n\n\n\n

The roadmap presented by the Russian Government and approved by Deputy Chairman Dmitry Chernyshenko will work to ease the adoption of cryptocurrencies while halting financial instability. <\/p>\n\n\n\n

It will seek to provide a regulatory framework within the cryptocurrency markets having with an emphasis on violations and dangers within the industry.<\/p>\n\n\n\n

The roadmap goes against the recently proposed blanket ban on cryptocurrencies - as per the Russian Central Bank. Suggesting that crypto-related activities such as payments, exchange, and mining be banned, as it risks financial stability for the citizens of the nation.<\/p>\n\n\n\n

What Do Russia's Regulations Entail?<\/h2>\n\n\n\n

The National Bank, through this guide, advocates having an administrative and prohibitive system for cryptocurrencies. This change of position comes after Putin demanded showing up at an agreement in regards to this.<\/p>\n\n\n\n

Putin has recognized that, although cryptocurrencies convey a specific measure of hazard coming from its volatility, digital currency mining guarantees a ton of upper hand to the country.<\/p>\n\n\n\n

Since Russia enjoys the benefit of having the option to give cheap power, it will remain the third-biggest country for crypto mining.<\/p>\n\n\n\n

\"Regulation will only provide the transparency that will ensure the protection of citizens.\"<\/strong><\/em><\/p>Ivan Chebeskov, Head Of The Financial Policy Department<\/cite><\/blockquote>\n\n\n\n

<\/p>\n","post_title":"Will Russia Ban Bitcoin? Likely Not; Here's Why...","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"will-russia-ban-bitcoin-likely-not-heres-why","to_ping":"","pinged":"","post_modified":"2023-04-11 12:56:24","post_modified_gmt":"2023-04-11 02:56:24","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3341","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"};

1 2

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

Altcoin Sherpa,\u00a0an advisor to Atlas DEX tweeted<\/a>\u00a0that \"in these situations and it's not all about the market.\"<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/AltcoinSherpa\/status\/1496685587822256130?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1496685587822256130%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fcointelegraph.com%2Fnews%2Fbitcoin-plunges-as-putin-announces-special-military-operation-in-ukraine\n<\/div><\/figure>\n","post_title":"Crypto Markets Collapse In Reaction To Russias War On Ukraine","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"crypto-markets-collapse-in-reaction-to-russias-war-on-ukraine","to_ping":"","pinged":"","post_modified":"2022-02-24 19:05:05","post_modified_gmt":"2022-02-24 08:05:05","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3581","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3453,"post_author":"1","post_date":"2022-02-12 17:06:40","post_date_gmt":"2022-02-12 06:06:40","post_content":"\n

Gy\u00f6rgy Matolcsy, the governor of the Central Bank of Hungary is supporting the proposed crypto ban by the Russian Central Bank, expressing his agreement with the proposal to ban trading and mining of cryptocurrencies.<\/p>\n\n\n\n

This comes after the recent news<\/a> that the Russian central bank was in support of banning the trading and mining of cryptocurrencies. Matolcsy stated<\/a> that \"it is clear-cut that cryptocurrencies could service illegal activities and tend to build up financial pyramids.\" <\/p>\n\n\n\n

He also added that the \"growth and market value of cryptocurrencies is defined primarily by speculative demand for future growth, which creates bubbles.\u201d Calling for unity within the EU, Matolcsy wants the EU to \"act together\" in order to preempt the building up of \"new financial pyramids and financial bubbles.\"<\/p>\n\n\n\n

It seems that he is in support of banning it from the EU, but not worldwide. \"EU citizens and companies would be allowed to own cryptocurrencies abroad and regulators will track their holdings.\" <\/p>\n\n\n\n

As Matolscy stated above, the growth and market value of cryptocurrencies is defined by speculative demand for future growth, is the support for the ban just a way to see if other countries can manage and regulate cryptocurrencies before he makes a decision on what to do, or is it another technology that isn't fully understood?<\/p>\n","post_title":"Hungarian Central Bank In Support Of Russian Crypto Ban","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"hungarian-central-bank-in-support-of-russian-crypto-ban","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/will-russia-ban-bitcoin-likely-not-heres-why\/","post_modified":"2022-02-12 17:07:44","post_modified_gmt":"2022-02-12 06:07:44","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3453","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3439,"post_author":"1","post_date":"2022-02-10 21:26:57","post_date_gmt":"2022-02-10 10:26:57","post_content":"\n

Russians own over $214 Billion worth, or 12% of the total value<\/a> of cryptocurrencies worldwide, according to a Bloomberg report<\/a>. <\/p>\n\n\n\n

The data coming from the Kremlin and government officials out of Moscow was articulated from analyzing the IP addresses of the most prominent exchange users out of the country along with various other data points, as stated by two officials from Kremlin.<\/p>\n\n\n\n

The data comes after the Russian government had decided to regulate<\/a> rather than ban cryptocurrencies. The analysis will help articulate an overview of the market to assist in their regulations and should be taken with a grain of salt because of the anonymous nature of cryptocurrencies in general.<\/p>\n\n\n\n

\u201cRussians really do have a lot of money in cryptocurrency, but it\u2019s hard to value the true amount...many people are using cash, derivative instruments, or have two passports and can open a crypto wallet in someone else\u2019s name.\u201d<\/em><\/strong><\/p>Alexander Filatov, Co-Founder and CEO of TON Labs<\/a><\/cite><\/blockquote>\n\n\n\n

The statistics offer a snapshot of how widespread cryptocurrency investing has become in Russia being the\u00a0third-biggest<\/a>\u00a0Bitcoin miner in the world, as officials at the central bank push for a blanket ban on the local industry, while the government pursues a softer approach.((https:\/\/www.bloomberg.com\/news\/articles\/2022-02-01\/russia-values-local-crypto-market-at-200-billion-as-rules-near))\u00a0<\/p>\n","post_title":"Russians Own 12% Of The Worlds Cryptocurrencies","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"russians-own-12-of-the-worlds-cryptocurrencies","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/will-russia-ban-bitcoin-likely-not-heres-why\/","post_modified":"2023-04-30 21:39:59","post_modified_gmt":"2023-04-30 11:39:59","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3439","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3341,"post_author":"1","post_date":"2022-01-31 22:09:02","post_date_gmt":"2022-01-31 11:09:02","post_content":"\n

The Russian Government has started the development of a guide that will present limitations on cryptocurrencies.<\/p>\n\n\n\n

The roadmap presented by the Russian Government and approved by Deputy Chairman Dmitry Chernyshenko will work to ease the adoption of cryptocurrencies while halting financial instability. <\/p>\n\n\n\n

It will seek to provide a regulatory framework within the cryptocurrency markets having with an emphasis on violations and dangers within the industry.<\/p>\n\n\n\n

The roadmap goes against the recently proposed blanket ban on cryptocurrencies - as per the Russian Central Bank. Suggesting that crypto-related activities such as payments, exchange, and mining be banned, as it risks financial stability for the citizens of the nation.<\/p>\n\n\n\n

What Do Russia's Regulations Entail?<\/h2>\n\n\n\n

The National Bank, through this guide, advocates having an administrative and prohibitive system for cryptocurrencies. This change of position comes after Putin demanded showing up at an agreement in regards to this.<\/p>\n\n\n\n

Putin has recognized that, although cryptocurrencies convey a specific measure of hazard coming from its volatility, digital currency mining guarantees a ton of upper hand to the country.<\/p>\n\n\n\n

Since Russia enjoys the benefit of having the option to give cheap power, it will remain the third-biggest country for crypto mining.<\/p>\n\n\n\n

\"Regulation will only provide the transparency that will ensure the protection of citizens.\"<\/strong><\/em><\/p>Ivan Chebeskov, Head Of The Financial Policy Department<\/cite><\/blockquote>\n\n\n\n

<\/p>\n","post_title":"Will Russia Ban Bitcoin? Likely Not; Here's Why...","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"will-russia-ban-bitcoin-likely-not-heres-why","to_ping":"","pinged":"","post_modified":"2023-04-11 12:56:24","post_modified_gmt":"2023-04-11 02:56:24","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3341","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"};

1 2

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n
\nhttps:\/\/twitter.com\/VitalikButerin\/status\/1496695424387801090?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1496695424387801090%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fcointelegraph.com%2Fnews%2Fbitcoin-plunges-as-putin-announces-special-military-operation-in-ukraine\n<\/div><\/figure>\n\n\n\n

Altcoin Sherpa,\u00a0an advisor to Atlas DEX tweeted<\/a>\u00a0that \"in these situations and it's not all about the market.\"<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/AltcoinSherpa\/status\/1496685587822256130?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1496685587822256130%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fcointelegraph.com%2Fnews%2Fbitcoin-plunges-as-putin-announces-special-military-operation-in-ukraine\n<\/div><\/figure>\n","post_title":"Crypto Markets Collapse In Reaction To Russias War On Ukraine","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"crypto-markets-collapse-in-reaction-to-russias-war-on-ukraine","to_ping":"","pinged":"","post_modified":"2022-02-24 19:05:05","post_modified_gmt":"2022-02-24 08:05:05","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3581","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3453,"post_author":"1","post_date":"2022-02-12 17:06:40","post_date_gmt":"2022-02-12 06:06:40","post_content":"\n

Gy\u00f6rgy Matolcsy, the governor of the Central Bank of Hungary is supporting the proposed crypto ban by the Russian Central Bank, expressing his agreement with the proposal to ban trading and mining of cryptocurrencies.<\/p>\n\n\n\n

This comes after the recent news<\/a> that the Russian central bank was in support of banning the trading and mining of cryptocurrencies. Matolcsy stated<\/a> that \"it is clear-cut that cryptocurrencies could service illegal activities and tend to build up financial pyramids.\" <\/p>\n\n\n\n

He also added that the \"growth and market value of cryptocurrencies is defined primarily by speculative demand for future growth, which creates bubbles.\u201d Calling for unity within the EU, Matolcsy wants the EU to \"act together\" in order to preempt the building up of \"new financial pyramids and financial bubbles.\"<\/p>\n\n\n\n

It seems that he is in support of banning it from the EU, but not worldwide. \"EU citizens and companies would be allowed to own cryptocurrencies abroad and regulators will track their holdings.\" <\/p>\n\n\n\n

As Matolscy stated above, the growth and market value of cryptocurrencies is defined by speculative demand for future growth, is the support for the ban just a way to see if other countries can manage and regulate cryptocurrencies before he makes a decision on what to do, or is it another technology that isn't fully understood?<\/p>\n","post_title":"Hungarian Central Bank In Support Of Russian Crypto Ban","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"hungarian-central-bank-in-support-of-russian-crypto-ban","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/will-russia-ban-bitcoin-likely-not-heres-why\/","post_modified":"2022-02-12 17:07:44","post_modified_gmt":"2022-02-12 06:07:44","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3453","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3439,"post_author":"1","post_date":"2022-02-10 21:26:57","post_date_gmt":"2022-02-10 10:26:57","post_content":"\n

Russians own over $214 Billion worth, or 12% of the total value<\/a> of cryptocurrencies worldwide, according to a Bloomberg report<\/a>. <\/p>\n\n\n\n

The data coming from the Kremlin and government officials out of Moscow was articulated from analyzing the IP addresses of the most prominent exchange users out of the country along with various other data points, as stated by two officials from Kremlin.<\/p>\n\n\n\n

The data comes after the Russian government had decided to regulate<\/a> rather than ban cryptocurrencies. The analysis will help articulate an overview of the market to assist in their regulations and should be taken with a grain of salt because of the anonymous nature of cryptocurrencies in general.<\/p>\n\n\n\n

\u201cRussians really do have a lot of money in cryptocurrency, but it\u2019s hard to value the true amount...many people are using cash, derivative instruments, or have two passports and can open a crypto wallet in someone else\u2019s name.\u201d<\/em><\/strong><\/p>Alexander Filatov, Co-Founder and CEO of TON Labs<\/a><\/cite><\/blockquote>\n\n\n\n

The statistics offer a snapshot of how widespread cryptocurrency investing has become in Russia being the\u00a0third-biggest<\/a>\u00a0Bitcoin miner in the world, as officials at the central bank push for a blanket ban on the local industry, while the government pursues a softer approach.((https:\/\/www.bloomberg.com\/news\/articles\/2022-02-01\/russia-values-local-crypto-market-at-200-billion-as-rules-near))\u00a0<\/p>\n","post_title":"Russians Own 12% Of The Worlds Cryptocurrencies","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"russians-own-12-of-the-worlds-cryptocurrencies","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/will-russia-ban-bitcoin-likely-not-heres-why\/","post_modified":"2023-04-30 21:39:59","post_modified_gmt":"2023-04-30 11:39:59","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3439","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3341,"post_author":"1","post_date":"2022-01-31 22:09:02","post_date_gmt":"2022-01-31 11:09:02","post_content":"\n

The Russian Government has started the development of a guide that will present limitations on cryptocurrencies.<\/p>\n\n\n\n

The roadmap presented by the Russian Government and approved by Deputy Chairman Dmitry Chernyshenko will work to ease the adoption of cryptocurrencies while halting financial instability. <\/p>\n\n\n\n

It will seek to provide a regulatory framework within the cryptocurrency markets having with an emphasis on violations and dangers within the industry.<\/p>\n\n\n\n

The roadmap goes against the recently proposed blanket ban on cryptocurrencies - as per the Russian Central Bank. Suggesting that crypto-related activities such as payments, exchange, and mining be banned, as it risks financial stability for the citizens of the nation.<\/p>\n\n\n\n

What Do Russia's Regulations Entail?<\/h2>\n\n\n\n

The National Bank, through this guide, advocates having an administrative and prohibitive system for cryptocurrencies. This change of position comes after Putin demanded showing up at an agreement in regards to this.<\/p>\n\n\n\n

Putin has recognized that, although cryptocurrencies convey a specific measure of hazard coming from its volatility, digital currency mining guarantees a ton of upper hand to the country.<\/p>\n\n\n\n

Since Russia enjoys the benefit of having the option to give cheap power, it will remain the third-biggest country for crypto mining.<\/p>\n\n\n\n

\"Regulation will only provide the transparency that will ensure the protection of citizens.\"<\/strong><\/em><\/p>Ivan Chebeskov, Head Of The Financial Policy Department<\/cite><\/blockquote>\n\n\n\n

<\/p>\n","post_title":"Will Russia Ban Bitcoin? Likely Not; Here's Why...","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"will-russia-ban-bitcoin-likely-not-heres-why","to_ping":"","pinged":"","post_modified":"2023-04-11 12:56:24","post_modified_gmt":"2023-04-11 02:56:24","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3341","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"};

1 2

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

\u00a0He\u00a0added<\/a>\u00a0later in English: \u201cReminder: Ethereum is neutral, but I am not.\u201d<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/VitalikButerin\/status\/1496695424387801090?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1496695424387801090%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fcointelegraph.com%2Fnews%2Fbitcoin-plunges-as-putin-announces-special-military-operation-in-ukraine\n<\/div><\/figure>\n\n\n\n

Altcoin Sherpa,\u00a0an advisor to Atlas DEX tweeted<\/a>\u00a0that \"in these situations and it's not all about the market.\"<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/AltcoinSherpa\/status\/1496685587822256130?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1496685587822256130%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fcointelegraph.com%2Fnews%2Fbitcoin-plunges-as-putin-announces-special-military-operation-in-ukraine\n<\/div><\/figure>\n","post_title":"Crypto Markets Collapse In Reaction To Russias War On Ukraine","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"crypto-markets-collapse-in-reaction-to-russias-war-on-ukraine","to_ping":"","pinged":"","post_modified":"2022-02-24 19:05:05","post_modified_gmt":"2022-02-24 08:05:05","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3581","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3453,"post_author":"1","post_date":"2022-02-12 17:06:40","post_date_gmt":"2022-02-12 06:06:40","post_content":"\n

Gy\u00f6rgy Matolcsy, the governor of the Central Bank of Hungary is supporting the proposed crypto ban by the Russian Central Bank, expressing his agreement with the proposal to ban trading and mining of cryptocurrencies.<\/p>\n\n\n\n

This comes after the recent news<\/a> that the Russian central bank was in support of banning the trading and mining of cryptocurrencies. Matolcsy stated<\/a> that \"it is clear-cut that cryptocurrencies could service illegal activities and tend to build up financial pyramids.\" <\/p>\n\n\n\n

He also added that the \"growth and market value of cryptocurrencies is defined primarily by speculative demand for future growth, which creates bubbles.\u201d Calling for unity within the EU, Matolcsy wants the EU to \"act together\" in order to preempt the building up of \"new financial pyramids and financial bubbles.\"<\/p>\n\n\n\n

It seems that he is in support of banning it from the EU, but not worldwide. \"EU citizens and companies would be allowed to own cryptocurrencies abroad and regulators will track their holdings.\" <\/p>\n\n\n\n

As Matolscy stated above, the growth and market value of cryptocurrencies is defined by speculative demand for future growth, is the support for the ban just a way to see if other countries can manage and regulate cryptocurrencies before he makes a decision on what to do, or is it another technology that isn't fully understood?<\/p>\n","post_title":"Hungarian Central Bank In Support Of Russian Crypto Ban","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"hungarian-central-bank-in-support-of-russian-crypto-ban","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/will-russia-ban-bitcoin-likely-not-heres-why\/","post_modified":"2022-02-12 17:07:44","post_modified_gmt":"2022-02-12 06:07:44","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3453","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3439,"post_author":"1","post_date":"2022-02-10 21:26:57","post_date_gmt":"2022-02-10 10:26:57","post_content":"\n

Russians own over $214 Billion worth, or 12% of the total value<\/a> of cryptocurrencies worldwide, according to a Bloomberg report<\/a>. <\/p>\n\n\n\n

The data coming from the Kremlin and government officials out of Moscow was articulated from analyzing the IP addresses of the most prominent exchange users out of the country along with various other data points, as stated by two officials from Kremlin.<\/p>\n\n\n\n

The data comes after the Russian government had decided to regulate<\/a> rather than ban cryptocurrencies. The analysis will help articulate an overview of the market to assist in their regulations and should be taken with a grain of salt because of the anonymous nature of cryptocurrencies in general.<\/p>\n\n\n\n

\u201cRussians really do have a lot of money in cryptocurrency, but it\u2019s hard to value the true amount...many people are using cash, derivative instruments, or have two passports and can open a crypto wallet in someone else\u2019s name.\u201d<\/em><\/strong><\/p>Alexander Filatov, Co-Founder and CEO of TON Labs<\/a><\/cite><\/blockquote>\n\n\n\n

The statistics offer a snapshot of how widespread cryptocurrency investing has become in Russia being the\u00a0third-biggest<\/a>\u00a0Bitcoin miner in the world, as officials at the central bank push for a blanket ban on the local industry, while the government pursues a softer approach.((https:\/\/www.bloomberg.com\/news\/articles\/2022-02-01\/russia-values-local-crypto-market-at-200-billion-as-rules-near))\u00a0<\/p>\n","post_title":"Russians Own 12% Of The Worlds Cryptocurrencies","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"russians-own-12-of-the-worlds-cryptocurrencies","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/will-russia-ban-bitcoin-likely-not-heres-why\/","post_modified":"2023-04-30 21:39:59","post_modified_gmt":"2023-04-30 11:39:59","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3439","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3341,"post_author":"1","post_date":"2022-01-31 22:09:02","post_date_gmt":"2022-01-31 11:09:02","post_content":"\n

The Russian Government has started the development of a guide that will present limitations on cryptocurrencies.<\/p>\n\n\n\n

The roadmap presented by the Russian Government and approved by Deputy Chairman Dmitry Chernyshenko will work to ease the adoption of cryptocurrencies while halting financial instability. <\/p>\n\n\n\n

It will seek to provide a regulatory framework within the cryptocurrency markets having with an emphasis on violations and dangers within the industry.<\/p>\n\n\n\n

The roadmap goes against the recently proposed blanket ban on cryptocurrencies - as per the Russian Central Bank. Suggesting that crypto-related activities such as payments, exchange, and mining be banned, as it risks financial stability for the citizens of the nation.<\/p>\n\n\n\n

What Do Russia's Regulations Entail?<\/h2>\n\n\n\n

The National Bank, through this guide, advocates having an administrative and prohibitive system for cryptocurrencies. This change of position comes after Putin demanded showing up at an agreement in regards to this.<\/p>\n\n\n\n

Putin has recognized that, although cryptocurrencies convey a specific measure of hazard coming from its volatility, digital currency mining guarantees a ton of upper hand to the country.<\/p>\n\n\n\n

Since Russia enjoys the benefit of having the option to give cheap power, it will remain the third-biggest country for crypto mining.<\/p>\n\n\n\n

\"Regulation will only provide the transparency that will ensure the protection of citizens.\"<\/strong><\/em><\/p>Ivan Chebeskov, Head Of The Financial Policy Department<\/cite><\/blockquote>\n\n\n\n

<\/p>\n","post_title":"Will Russia Ban Bitcoin? Likely Not; Here's Why...","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"will-russia-ban-bitcoin-likely-not-heres-why","to_ping":"","pinged":"","post_modified":"2023-04-11 12:56:24","post_modified_gmt":"2023-04-11 02:56:24","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3341","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"};

1 2

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

\u201cVery upset by Putin's decision to abandon the possibility of a peaceful solution to the dispute with Ukraine and go to war instead. This is a crime against the Ukrainian and Russian people. I want to wish everyone security, although I know that there will be no security. Glory to Ukraine.\"<\/p>\n\n\n\n

\u00a0He\u00a0added<\/a>\u00a0later in English: \u201cReminder: Ethereum is neutral, but I am not.\u201d<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/VitalikButerin\/status\/1496695424387801090?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1496695424387801090%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fcointelegraph.com%2Fnews%2Fbitcoin-plunges-as-putin-announces-special-military-operation-in-ukraine\n<\/div><\/figure>\n\n\n\n

Altcoin Sherpa,\u00a0an advisor to Atlas DEX tweeted<\/a>\u00a0that \"in these situations and it's not all about the market.\"<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/AltcoinSherpa\/status\/1496685587822256130?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1496685587822256130%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fcointelegraph.com%2Fnews%2Fbitcoin-plunges-as-putin-announces-special-military-operation-in-ukraine\n<\/div><\/figure>\n","post_title":"Crypto Markets Collapse In Reaction To Russias War On Ukraine","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"crypto-markets-collapse-in-reaction-to-russias-war-on-ukraine","to_ping":"","pinged":"","post_modified":"2022-02-24 19:05:05","post_modified_gmt":"2022-02-24 08:05:05","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3581","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3453,"post_author":"1","post_date":"2022-02-12 17:06:40","post_date_gmt":"2022-02-12 06:06:40","post_content":"\n

Gy\u00f6rgy Matolcsy, the governor of the Central Bank of Hungary is supporting the proposed crypto ban by the Russian Central Bank, expressing his agreement with the proposal to ban trading and mining of cryptocurrencies.<\/p>\n\n\n\n

This comes after the recent news<\/a> that the Russian central bank was in support of banning the trading and mining of cryptocurrencies. Matolcsy stated<\/a> that \"it is clear-cut that cryptocurrencies could service illegal activities and tend to build up financial pyramids.\" <\/p>\n\n\n\n

He also added that the \"growth and market value of cryptocurrencies is defined primarily by speculative demand for future growth, which creates bubbles.\u201d Calling for unity within the EU, Matolcsy wants the EU to \"act together\" in order to preempt the building up of \"new financial pyramids and financial bubbles.\"<\/p>\n\n\n\n

It seems that he is in support of banning it from the EU, but not worldwide. \"EU citizens and companies would be allowed to own cryptocurrencies abroad and regulators will track their holdings.\" <\/p>\n\n\n\n

As Matolscy stated above, the growth and market value of cryptocurrencies is defined by speculative demand for future growth, is the support for the ban just a way to see if other countries can manage and regulate cryptocurrencies before he makes a decision on what to do, or is it another technology that isn't fully understood?<\/p>\n","post_title":"Hungarian Central Bank In Support Of Russian Crypto Ban","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"hungarian-central-bank-in-support-of-russian-crypto-ban","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/will-russia-ban-bitcoin-likely-not-heres-why\/","post_modified":"2022-02-12 17:07:44","post_modified_gmt":"2022-02-12 06:07:44","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3453","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3439,"post_author":"1","post_date":"2022-02-10 21:26:57","post_date_gmt":"2022-02-10 10:26:57","post_content":"\n

Russians own over $214 Billion worth, or 12% of the total value<\/a> of cryptocurrencies worldwide, according to a Bloomberg report<\/a>. <\/p>\n\n\n\n

The data coming from the Kremlin and government officials out of Moscow was articulated from analyzing the IP addresses of the most prominent exchange users out of the country along with various other data points, as stated by two officials from Kremlin.<\/p>\n\n\n\n

The data comes after the Russian government had decided to regulate<\/a> rather than ban cryptocurrencies. The analysis will help articulate an overview of the market to assist in their regulations and should be taken with a grain of salt because of the anonymous nature of cryptocurrencies in general.<\/p>\n\n\n\n

\u201cRussians really do have a lot of money in cryptocurrency, but it\u2019s hard to value the true amount...many people are using cash, derivative instruments, or have two passports and can open a crypto wallet in someone else\u2019s name.\u201d<\/em><\/strong><\/p>Alexander Filatov, Co-Founder and CEO of TON Labs<\/a><\/cite><\/blockquote>\n\n\n\n

The statistics offer a snapshot of how widespread cryptocurrency investing has become in Russia being the\u00a0third-biggest<\/a>\u00a0Bitcoin miner in the world, as officials at the central bank push for a blanket ban on the local industry, while the government pursues a softer approach.((https:\/\/www.bloomberg.com\/news\/articles\/2022-02-01\/russia-values-local-crypto-market-at-200-billion-as-rules-near))\u00a0<\/p>\n","post_title":"Russians Own 12% Of The Worlds Cryptocurrencies","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"russians-own-12-of-the-worlds-cryptocurrencies","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/will-russia-ban-bitcoin-likely-not-heres-why\/","post_modified":"2023-04-30 21:39:59","post_modified_gmt":"2023-04-30 11:39:59","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3439","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3341,"post_author":"1","post_date":"2022-01-31 22:09:02","post_date_gmt":"2022-01-31 11:09:02","post_content":"\n

The Russian Government has started the development of a guide that will present limitations on cryptocurrencies.<\/p>\n\n\n\n

The roadmap presented by the Russian Government and approved by Deputy Chairman Dmitry Chernyshenko will work to ease the adoption of cryptocurrencies while halting financial instability. <\/p>\n\n\n\n

It will seek to provide a regulatory framework within the cryptocurrency markets having with an emphasis on violations and dangers within the industry.<\/p>\n\n\n\n

The roadmap goes against the recently proposed blanket ban on cryptocurrencies - as per the Russian Central Bank. Suggesting that crypto-related activities such as payments, exchange, and mining be banned, as it risks financial stability for the citizens of the nation.<\/p>\n\n\n\n

What Do Russia's Regulations Entail?<\/h2>\n\n\n\n

The National Bank, through this guide, advocates having an administrative and prohibitive system for cryptocurrencies. This change of position comes after Putin demanded showing up at an agreement in regards to this.<\/p>\n\n\n\n

Putin has recognized that, although cryptocurrencies convey a specific measure of hazard coming from its volatility, digital currency mining guarantees a ton of upper hand to the country.<\/p>\n\n\n\n

Since Russia enjoys the benefit of having the option to give cheap power, it will remain the third-biggest country for crypto mining.<\/p>\n\n\n\n

\"Regulation will only provide the transparency that will ensure the protection of citizens.\"<\/strong><\/em><\/p>Ivan Chebeskov, Head Of The Financial Policy Department<\/cite><\/blockquote>\n\n\n\n

<\/p>\n","post_title":"Will Russia Ban Bitcoin? Likely Not; Here's Why...","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"will-russia-ban-bitcoin-likely-not-heres-why","to_ping":"","pinged":"","post_modified":"2023-04-11 12:56:24","post_modified_gmt":"2023-04-11 02:56:24","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3341","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"};

1 2

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

Ethereum founder Vitalik Buterin, born and raised in Russia,\u00a0tweeted<\/a> in Russian that roughly translates to <\/p>\n\n\n\n

\u201cVery upset by Putin's decision to abandon the possibility of a peaceful solution to the dispute with Ukraine and go to war instead. This is a crime against the Ukrainian and Russian people. I want to wish everyone security, although I know that there will be no security. Glory to Ukraine.\"<\/p>\n\n\n\n

\u00a0He\u00a0added<\/a>\u00a0later in English: \u201cReminder: Ethereum is neutral, but I am not.\u201d<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/VitalikButerin\/status\/1496695424387801090?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1496695424387801090%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fcointelegraph.com%2Fnews%2Fbitcoin-plunges-as-putin-announces-special-military-operation-in-ukraine\n<\/div><\/figure>\n\n\n\n

Altcoin Sherpa,\u00a0an advisor to Atlas DEX tweeted<\/a>\u00a0that \"in these situations and it's not all about the market.\"<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/AltcoinSherpa\/status\/1496685587822256130?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1496685587822256130%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fcointelegraph.com%2Fnews%2Fbitcoin-plunges-as-putin-announces-special-military-operation-in-ukraine\n<\/div><\/figure>\n","post_title":"Crypto Markets Collapse In Reaction To Russias War On Ukraine","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"crypto-markets-collapse-in-reaction-to-russias-war-on-ukraine","to_ping":"","pinged":"","post_modified":"2022-02-24 19:05:05","post_modified_gmt":"2022-02-24 08:05:05","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3581","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3453,"post_author":"1","post_date":"2022-02-12 17:06:40","post_date_gmt":"2022-02-12 06:06:40","post_content":"\n

Gy\u00f6rgy Matolcsy, the governor of the Central Bank of Hungary is supporting the proposed crypto ban by the Russian Central Bank, expressing his agreement with the proposal to ban trading and mining of cryptocurrencies.<\/p>\n\n\n\n

This comes after the recent news<\/a> that the Russian central bank was in support of banning the trading and mining of cryptocurrencies. Matolcsy stated<\/a> that \"it is clear-cut that cryptocurrencies could service illegal activities and tend to build up financial pyramids.\" <\/p>\n\n\n\n

He also added that the \"growth and market value of cryptocurrencies is defined primarily by speculative demand for future growth, which creates bubbles.\u201d Calling for unity within the EU, Matolcsy wants the EU to \"act together\" in order to preempt the building up of \"new financial pyramids and financial bubbles.\"<\/p>\n\n\n\n

It seems that he is in support of banning it from the EU, but not worldwide. \"EU citizens and companies would be allowed to own cryptocurrencies abroad and regulators will track their holdings.\" <\/p>\n\n\n\n

As Matolscy stated above, the growth and market value of cryptocurrencies is defined by speculative demand for future growth, is the support for the ban just a way to see if other countries can manage and regulate cryptocurrencies before he makes a decision on what to do, or is it another technology that isn't fully understood?<\/p>\n","post_title":"Hungarian Central Bank In Support Of Russian Crypto Ban","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"hungarian-central-bank-in-support-of-russian-crypto-ban","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/will-russia-ban-bitcoin-likely-not-heres-why\/","post_modified":"2022-02-12 17:07:44","post_modified_gmt":"2022-02-12 06:07:44","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3453","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3439,"post_author":"1","post_date":"2022-02-10 21:26:57","post_date_gmt":"2022-02-10 10:26:57","post_content":"\n

Russians own over $214 Billion worth, or 12% of the total value<\/a> of cryptocurrencies worldwide, according to a Bloomberg report<\/a>. <\/p>\n\n\n\n

The data coming from the Kremlin and government officials out of Moscow was articulated from analyzing the IP addresses of the most prominent exchange users out of the country along with various other data points, as stated by two officials from Kremlin.<\/p>\n\n\n\n

The data comes after the Russian government had decided to regulate<\/a> rather than ban cryptocurrencies. The analysis will help articulate an overview of the market to assist in their regulations and should be taken with a grain of salt because of the anonymous nature of cryptocurrencies in general.<\/p>\n\n\n\n

\u201cRussians really do have a lot of money in cryptocurrency, but it\u2019s hard to value the true amount...many people are using cash, derivative instruments, or have two passports and can open a crypto wallet in someone else\u2019s name.\u201d<\/em><\/strong><\/p>Alexander Filatov, Co-Founder and CEO of TON Labs<\/a><\/cite><\/blockquote>\n\n\n\n

The statistics offer a snapshot of how widespread cryptocurrency investing has become in Russia being the\u00a0third-biggest<\/a>\u00a0Bitcoin miner in the world, as officials at the central bank push for a blanket ban on the local industry, while the government pursues a softer approach.((https:\/\/www.bloomberg.com\/news\/articles\/2022-02-01\/russia-values-local-crypto-market-at-200-billion-as-rules-near))\u00a0<\/p>\n","post_title":"Russians Own 12% Of The Worlds Cryptocurrencies","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"russians-own-12-of-the-worlds-cryptocurrencies","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/will-russia-ban-bitcoin-likely-not-heres-why\/","post_modified":"2023-04-30 21:39:59","post_modified_gmt":"2023-04-30 11:39:59","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3439","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3341,"post_author":"1","post_date":"2022-01-31 22:09:02","post_date_gmt":"2022-01-31 11:09:02","post_content":"\n

The Russian Government has started the development of a guide that will present limitations on cryptocurrencies.<\/p>\n\n\n\n

The roadmap presented by the Russian Government and approved by Deputy Chairman Dmitry Chernyshenko will work to ease the adoption of cryptocurrencies while halting financial instability. <\/p>\n\n\n\n

It will seek to provide a regulatory framework within the cryptocurrency markets having with an emphasis on violations and dangers within the industry.<\/p>\n\n\n\n

The roadmap goes against the recently proposed blanket ban on cryptocurrencies - as per the Russian Central Bank. Suggesting that crypto-related activities such as payments, exchange, and mining be banned, as it risks financial stability for the citizens of the nation.<\/p>\n\n\n\n

What Do Russia's Regulations Entail?<\/h2>\n\n\n\n

The National Bank, through this guide, advocates having an administrative and prohibitive system for cryptocurrencies. This change of position comes after Putin demanded showing up at an agreement in regards to this.<\/p>\n\n\n\n

Putin has recognized that, although cryptocurrencies convey a specific measure of hazard coming from its volatility, digital currency mining guarantees a ton of upper hand to the country.<\/p>\n\n\n\n

Since Russia enjoys the benefit of having the option to give cheap power, it will remain the third-biggest country for crypto mining.<\/p>\n\n\n\n

\"Regulation will only provide the transparency that will ensure the protection of citizens.\"<\/strong><\/em><\/p>Ivan Chebeskov, Head Of The Financial Policy Department<\/cite><\/blockquote>\n\n\n\n

<\/p>\n","post_title":"Will Russia Ban Bitcoin? Likely Not; Here's Why...","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"will-russia-ban-bitcoin-likely-not-heres-why","to_ping":"","pinged":"","post_modified":"2023-04-11 12:56:24","post_modified_gmt":"2023-04-11 02:56:24","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3341","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"};

1 2

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

The Communities Reactions<\/h2>\n\n\n\n

Ethereum founder Vitalik Buterin, born and raised in Russia,\u00a0tweeted<\/a> in Russian that roughly translates to <\/p>\n\n\n\n

\u201cVery upset by Putin's decision to abandon the possibility of a peaceful solution to the dispute with Ukraine and go to war instead. This is a crime against the Ukrainian and Russian people. I want to wish everyone security, although I know that there will be no security. Glory to Ukraine.\"<\/p>\n\n\n\n

\u00a0He\u00a0added<\/a>\u00a0later in English: \u201cReminder: Ethereum is neutral, but I am not.\u201d<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/VitalikButerin\/status\/1496695424387801090?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1496695424387801090%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fcointelegraph.com%2Fnews%2Fbitcoin-plunges-as-putin-announces-special-military-operation-in-ukraine\n<\/div><\/figure>\n\n\n\n

Altcoin Sherpa,\u00a0an advisor to Atlas DEX tweeted<\/a>\u00a0that \"in these situations and it's not all about the market.\"<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/AltcoinSherpa\/status\/1496685587822256130?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1496685587822256130%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fcointelegraph.com%2Fnews%2Fbitcoin-plunges-as-putin-announces-special-military-operation-in-ukraine\n<\/div><\/figure>\n","post_title":"Crypto Markets Collapse In Reaction To Russias War On Ukraine","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"crypto-markets-collapse-in-reaction-to-russias-war-on-ukraine","to_ping":"","pinged":"","post_modified":"2022-02-24 19:05:05","post_modified_gmt":"2022-02-24 08:05:05","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3581","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3453,"post_author":"1","post_date":"2022-02-12 17:06:40","post_date_gmt":"2022-02-12 06:06:40","post_content":"\n

Gy\u00f6rgy Matolcsy, the governor of the Central Bank of Hungary is supporting the proposed crypto ban by the Russian Central Bank, expressing his agreement with the proposal to ban trading and mining of cryptocurrencies.<\/p>\n\n\n\n

This comes after the recent news<\/a> that the Russian central bank was in support of banning the trading and mining of cryptocurrencies. Matolcsy stated<\/a> that \"it is clear-cut that cryptocurrencies could service illegal activities and tend to build up financial pyramids.\" <\/p>\n\n\n\n

He also added that the \"growth and market value of cryptocurrencies is defined primarily by speculative demand for future growth, which creates bubbles.\u201d Calling for unity within the EU, Matolcsy wants the EU to \"act together\" in order to preempt the building up of \"new financial pyramids and financial bubbles.\"<\/p>\n\n\n\n

It seems that he is in support of banning it from the EU, but not worldwide. \"EU citizens and companies would be allowed to own cryptocurrencies abroad and regulators will track their holdings.\" <\/p>\n\n\n\n

As Matolscy stated above, the growth and market value of cryptocurrencies is defined by speculative demand for future growth, is the support for the ban just a way to see if other countries can manage and regulate cryptocurrencies before he makes a decision on what to do, or is it another technology that isn't fully understood?<\/p>\n","post_title":"Hungarian Central Bank In Support Of Russian Crypto Ban","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"hungarian-central-bank-in-support-of-russian-crypto-ban","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/will-russia-ban-bitcoin-likely-not-heres-why\/","post_modified":"2022-02-12 17:07:44","post_modified_gmt":"2022-02-12 06:07:44","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3453","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3439,"post_author":"1","post_date":"2022-02-10 21:26:57","post_date_gmt":"2022-02-10 10:26:57","post_content":"\n

Russians own over $214 Billion worth, or 12% of the total value<\/a> of cryptocurrencies worldwide, according to a Bloomberg report<\/a>. <\/p>\n\n\n\n

The data coming from the Kremlin and government officials out of Moscow was articulated from analyzing the IP addresses of the most prominent exchange users out of the country along with various other data points, as stated by two officials from Kremlin.<\/p>\n\n\n\n

The data comes after the Russian government had decided to regulate<\/a> rather than ban cryptocurrencies. The analysis will help articulate an overview of the market to assist in their regulations and should be taken with a grain of salt because of the anonymous nature of cryptocurrencies in general.<\/p>\n\n\n\n

\u201cRussians really do have a lot of money in cryptocurrency, but it\u2019s hard to value the true amount...many people are using cash, derivative instruments, or have two passports and can open a crypto wallet in someone else\u2019s name.\u201d<\/em><\/strong><\/p>Alexander Filatov, Co-Founder and CEO of TON Labs<\/a><\/cite><\/blockquote>\n\n\n\n

The statistics offer a snapshot of how widespread cryptocurrency investing has become in Russia being the\u00a0third-biggest<\/a>\u00a0Bitcoin miner in the world, as officials at the central bank push for a blanket ban on the local industry, while the government pursues a softer approach.((https:\/\/www.bloomberg.com\/news\/articles\/2022-02-01\/russia-values-local-crypto-market-at-200-billion-as-rules-near))\u00a0<\/p>\n","post_title":"Russians Own 12% Of The Worlds Cryptocurrencies","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"russians-own-12-of-the-worlds-cryptocurrencies","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/will-russia-ban-bitcoin-likely-not-heres-why\/","post_modified":"2023-04-30 21:39:59","post_modified_gmt":"2023-04-30 11:39:59","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3439","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3341,"post_author":"1","post_date":"2022-01-31 22:09:02","post_date_gmt":"2022-01-31 11:09:02","post_content":"\n

The Russian Government has started the development of a guide that will present limitations on cryptocurrencies.<\/p>\n\n\n\n

The roadmap presented by the Russian Government and approved by Deputy Chairman Dmitry Chernyshenko will work to ease the adoption of cryptocurrencies while halting financial instability. <\/p>\n\n\n\n

It will seek to provide a regulatory framework within the cryptocurrency markets having with an emphasis on violations and dangers within the industry.<\/p>\n\n\n\n

The roadmap goes against the recently proposed blanket ban on cryptocurrencies - as per the Russian Central Bank. Suggesting that crypto-related activities such as payments, exchange, and mining be banned, as it risks financial stability for the citizens of the nation.<\/p>\n\n\n\n

What Do Russia's Regulations Entail?<\/h2>\n\n\n\n

The National Bank, through this guide, advocates having an administrative and prohibitive system for cryptocurrencies. This change of position comes after Putin demanded showing up at an agreement in regards to this.<\/p>\n\n\n\n

Putin has recognized that, although cryptocurrencies convey a specific measure of hazard coming from its volatility, digital currency mining guarantees a ton of upper hand to the country.<\/p>\n\n\n\n

Since Russia enjoys the benefit of having the option to give cheap power, it will remain the third-biggest country for crypto mining.<\/p>\n\n\n\n

\"Regulation will only provide the transparency that will ensure the protection of citizens.\"<\/strong><\/em><\/p>Ivan Chebeskov, Head Of The Financial Policy Department<\/cite><\/blockquote>\n\n\n\n

<\/p>\n","post_title":"Will Russia Ban Bitcoin? Likely Not; Here's Why...","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"will-russia-ban-bitcoin-likely-not-heres-why","to_ping":"","pinged":"","post_modified":"2023-04-11 12:56:24","post_modified_gmt":"2023-04-11 02:56:24","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3341","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"};

1 2

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n
\"\"
Source: CoinMarketCap<\/figcaption><\/figure>\n\n\n\n

The Communities Reactions<\/h2>\n\n\n\n

Ethereum founder Vitalik Buterin, born and raised in Russia,\u00a0tweeted<\/a> in Russian that roughly translates to <\/p>\n\n\n\n

\u201cVery upset by Putin's decision to abandon the possibility of a peaceful solution to the dispute with Ukraine and go to war instead. This is a crime against the Ukrainian and Russian people. I want to wish everyone security, although I know that there will be no security. Glory to Ukraine.\"<\/p>\n\n\n\n

\u00a0He\u00a0added<\/a>\u00a0later in English: \u201cReminder: Ethereum is neutral, but I am not.\u201d<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/VitalikButerin\/status\/1496695424387801090?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1496695424387801090%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fcointelegraph.com%2Fnews%2Fbitcoin-plunges-as-putin-announces-special-military-operation-in-ukraine\n<\/div><\/figure>\n\n\n\n

Altcoin Sherpa,\u00a0an advisor to Atlas DEX tweeted<\/a>\u00a0that \"in these situations and it's not all about the market.\"<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/AltcoinSherpa\/status\/1496685587822256130?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1496685587822256130%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fcointelegraph.com%2Fnews%2Fbitcoin-plunges-as-putin-announces-special-military-operation-in-ukraine\n<\/div><\/figure>\n","post_title":"Crypto Markets Collapse In Reaction To Russias War On Ukraine","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"crypto-markets-collapse-in-reaction-to-russias-war-on-ukraine","to_ping":"","pinged":"","post_modified":"2022-02-24 19:05:05","post_modified_gmt":"2022-02-24 08:05:05","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3581","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3453,"post_author":"1","post_date":"2022-02-12 17:06:40","post_date_gmt":"2022-02-12 06:06:40","post_content":"\n

Gy\u00f6rgy Matolcsy, the governor of the Central Bank of Hungary is supporting the proposed crypto ban by the Russian Central Bank, expressing his agreement with the proposal to ban trading and mining of cryptocurrencies.<\/p>\n\n\n\n

This comes after the recent news<\/a> that the Russian central bank was in support of banning the trading and mining of cryptocurrencies. Matolcsy stated<\/a> that \"it is clear-cut that cryptocurrencies could service illegal activities and tend to build up financial pyramids.\" <\/p>\n\n\n\n

He also added that the \"growth and market value of cryptocurrencies is defined primarily by speculative demand for future growth, which creates bubbles.\u201d Calling for unity within the EU, Matolcsy wants the EU to \"act together\" in order to preempt the building up of \"new financial pyramids and financial bubbles.\"<\/p>\n\n\n\n

It seems that he is in support of banning it from the EU, but not worldwide. \"EU citizens and companies would be allowed to own cryptocurrencies abroad and regulators will track their holdings.\" <\/p>\n\n\n\n

As Matolscy stated above, the growth and market value of cryptocurrencies is defined by speculative demand for future growth, is the support for the ban just a way to see if other countries can manage and regulate cryptocurrencies before he makes a decision on what to do, or is it another technology that isn't fully understood?<\/p>\n","post_title":"Hungarian Central Bank In Support Of Russian Crypto Ban","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"hungarian-central-bank-in-support-of-russian-crypto-ban","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/will-russia-ban-bitcoin-likely-not-heres-why\/","post_modified":"2022-02-12 17:07:44","post_modified_gmt":"2022-02-12 06:07:44","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3453","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3439,"post_author":"1","post_date":"2022-02-10 21:26:57","post_date_gmt":"2022-02-10 10:26:57","post_content":"\n

Russians own over $214 Billion worth, or 12% of the total value<\/a> of cryptocurrencies worldwide, according to a Bloomberg report<\/a>. <\/p>\n\n\n\n

The data coming from the Kremlin and government officials out of Moscow was articulated from analyzing the IP addresses of the most prominent exchange users out of the country along with various other data points, as stated by two officials from Kremlin.<\/p>\n\n\n\n

The data comes after the Russian government had decided to regulate<\/a> rather than ban cryptocurrencies. The analysis will help articulate an overview of the market to assist in their regulations and should be taken with a grain of salt because of the anonymous nature of cryptocurrencies in general.<\/p>\n\n\n\n

\u201cRussians really do have a lot of money in cryptocurrency, but it\u2019s hard to value the true amount...many people are using cash, derivative instruments, or have two passports and can open a crypto wallet in someone else\u2019s name.\u201d<\/em><\/strong><\/p>Alexander Filatov, Co-Founder and CEO of TON Labs<\/a><\/cite><\/blockquote>\n\n\n\n

The statistics offer a snapshot of how widespread cryptocurrency investing has become in Russia being the\u00a0third-biggest<\/a>\u00a0Bitcoin miner in the world, as officials at the central bank push for a blanket ban on the local industry, while the government pursues a softer approach.((https:\/\/www.bloomberg.com\/news\/articles\/2022-02-01\/russia-values-local-crypto-market-at-200-billion-as-rules-near))\u00a0<\/p>\n","post_title":"Russians Own 12% Of The Worlds Cryptocurrencies","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"russians-own-12-of-the-worlds-cryptocurrencies","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/will-russia-ban-bitcoin-likely-not-heres-why\/","post_modified":"2023-04-30 21:39:59","post_modified_gmt":"2023-04-30 11:39:59","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3439","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3341,"post_author":"1","post_date":"2022-01-31 22:09:02","post_date_gmt":"2022-01-31 11:09:02","post_content":"\n

The Russian Government has started the development of a guide that will present limitations on cryptocurrencies.<\/p>\n\n\n\n

The roadmap presented by the Russian Government and approved by Deputy Chairman Dmitry Chernyshenko will work to ease the adoption of cryptocurrencies while halting financial instability. <\/p>\n\n\n\n

It will seek to provide a regulatory framework within the cryptocurrency markets having with an emphasis on violations and dangers within the industry.<\/p>\n\n\n\n

The roadmap goes against the recently proposed blanket ban on cryptocurrencies - as per the Russian Central Bank. Suggesting that crypto-related activities such as payments, exchange, and mining be banned, as it risks financial stability for the citizens of the nation.<\/p>\n\n\n\n

What Do Russia's Regulations Entail?<\/h2>\n\n\n\n

The National Bank, through this guide, advocates having an administrative and prohibitive system for cryptocurrencies. This change of position comes after Putin demanded showing up at an agreement in regards to this.<\/p>\n\n\n\n

Putin has recognized that, although cryptocurrencies convey a specific measure of hazard coming from its volatility, digital currency mining guarantees a ton of upper hand to the country.<\/p>\n\n\n\n

Since Russia enjoys the benefit of having the option to give cheap power, it will remain the third-biggest country for crypto mining.<\/p>\n\n\n\n

\"Regulation will only provide the transparency that will ensure the protection of citizens.\"<\/strong><\/em><\/p>Ivan Chebeskov, Head Of The Financial Policy Department<\/cite><\/blockquote>\n\n\n\n

<\/p>\n","post_title":"Will Russia Ban Bitcoin? Likely Not; Here's Why...","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"will-russia-ban-bitcoin-likely-not-heres-why","to_ping":"","pinged":"","post_modified":"2023-04-11 12:56:24","post_modified_gmt":"2023-04-11 02:56:24","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3341","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"};

1 2

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

The Bitcoin (BTC<\/a>) price has dropped 7.26% and Ethereum (ETH<\/a>) dropped 9.48% today according to CoinMarketCap<\/a>. The overall crypto market cap has dropped 8.25% to $1.58 trillion.<\/p>\n\n\n\n

\"\"
Source: CoinMarketCap<\/figcaption><\/figure>\n\n\n\n

The Communities Reactions<\/h2>\n\n\n\n

Ethereum founder Vitalik Buterin, born and raised in Russia,\u00a0tweeted<\/a> in Russian that roughly translates to <\/p>\n\n\n\n

\u201cVery upset by Putin's decision to abandon the possibility of a peaceful solution to the dispute with Ukraine and go to war instead. This is a crime against the Ukrainian and Russian people. I want to wish everyone security, although I know that there will be no security. Glory to Ukraine.\"<\/p>\n\n\n\n

\u00a0He\u00a0added<\/a>\u00a0later in English: \u201cReminder: Ethereum is neutral, but I am not.\u201d<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/VitalikButerin\/status\/1496695424387801090?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1496695424387801090%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fcointelegraph.com%2Fnews%2Fbitcoin-plunges-as-putin-announces-special-military-operation-in-ukraine\n<\/div><\/figure>\n\n\n\n

Altcoin Sherpa,\u00a0an advisor to Atlas DEX tweeted<\/a>\u00a0that \"in these situations and it's not all about the market.\"<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/AltcoinSherpa\/status\/1496685587822256130?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1496685587822256130%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fcointelegraph.com%2Fnews%2Fbitcoin-plunges-as-putin-announces-special-military-operation-in-ukraine\n<\/div><\/figure>\n","post_title":"Crypto Markets Collapse In Reaction To Russias War On Ukraine","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"crypto-markets-collapse-in-reaction-to-russias-war-on-ukraine","to_ping":"","pinged":"","post_modified":"2022-02-24 19:05:05","post_modified_gmt":"2022-02-24 08:05:05","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3581","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3453,"post_author":"1","post_date":"2022-02-12 17:06:40","post_date_gmt":"2022-02-12 06:06:40","post_content":"\n

Gy\u00f6rgy Matolcsy, the governor of the Central Bank of Hungary is supporting the proposed crypto ban by the Russian Central Bank, expressing his agreement with the proposal to ban trading and mining of cryptocurrencies.<\/p>\n\n\n\n

This comes after the recent news<\/a> that the Russian central bank was in support of banning the trading and mining of cryptocurrencies. Matolcsy stated<\/a> that \"it is clear-cut that cryptocurrencies could service illegal activities and tend to build up financial pyramids.\" <\/p>\n\n\n\n

He also added that the \"growth and market value of cryptocurrencies is defined primarily by speculative demand for future growth, which creates bubbles.\u201d Calling for unity within the EU, Matolcsy wants the EU to \"act together\" in order to preempt the building up of \"new financial pyramids and financial bubbles.\"<\/p>\n\n\n\n

It seems that he is in support of banning it from the EU, but not worldwide. \"EU citizens and companies would be allowed to own cryptocurrencies abroad and regulators will track their holdings.\" <\/p>\n\n\n\n

As Matolscy stated above, the growth and market value of cryptocurrencies is defined by speculative demand for future growth, is the support for the ban just a way to see if other countries can manage and regulate cryptocurrencies before he makes a decision on what to do, or is it another technology that isn't fully understood?<\/p>\n","post_title":"Hungarian Central Bank In Support Of Russian Crypto Ban","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"hungarian-central-bank-in-support-of-russian-crypto-ban","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/will-russia-ban-bitcoin-likely-not-heres-why\/","post_modified":"2022-02-12 17:07:44","post_modified_gmt":"2022-02-12 06:07:44","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3453","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3439,"post_author":"1","post_date":"2022-02-10 21:26:57","post_date_gmt":"2022-02-10 10:26:57","post_content":"\n

Russians own over $214 Billion worth, or 12% of the total value<\/a> of cryptocurrencies worldwide, according to a Bloomberg report<\/a>. <\/p>\n\n\n\n

The data coming from the Kremlin and government officials out of Moscow was articulated from analyzing the IP addresses of the most prominent exchange users out of the country along with various other data points, as stated by two officials from Kremlin.<\/p>\n\n\n\n

The data comes after the Russian government had decided to regulate<\/a> rather than ban cryptocurrencies. The analysis will help articulate an overview of the market to assist in their regulations and should be taken with a grain of salt because of the anonymous nature of cryptocurrencies in general.<\/p>\n\n\n\n

\u201cRussians really do have a lot of money in cryptocurrency, but it\u2019s hard to value the true amount...many people are using cash, derivative instruments, or have two passports and can open a crypto wallet in someone else\u2019s name.\u201d<\/em><\/strong><\/p>Alexander Filatov, Co-Founder and CEO of TON Labs<\/a><\/cite><\/blockquote>\n\n\n\n

The statistics offer a snapshot of how widespread cryptocurrency investing has become in Russia being the\u00a0third-biggest<\/a>\u00a0Bitcoin miner in the world, as officials at the central bank push for a blanket ban on the local industry, while the government pursues a softer approach.((https:\/\/www.bloomberg.com\/news\/articles\/2022-02-01\/russia-values-local-crypto-market-at-200-billion-as-rules-near))\u00a0<\/p>\n","post_title":"Russians Own 12% Of The Worlds Cryptocurrencies","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"russians-own-12-of-the-worlds-cryptocurrencies","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/will-russia-ban-bitcoin-likely-not-heres-why\/","post_modified":"2023-04-30 21:39:59","post_modified_gmt":"2023-04-30 11:39:59","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3439","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3341,"post_author":"1","post_date":"2022-01-31 22:09:02","post_date_gmt":"2022-01-31 11:09:02","post_content":"\n

The Russian Government has started the development of a guide that will present limitations on cryptocurrencies.<\/p>\n\n\n\n

The roadmap presented by the Russian Government and approved by Deputy Chairman Dmitry Chernyshenko will work to ease the adoption of cryptocurrencies while halting financial instability. <\/p>\n\n\n\n

It will seek to provide a regulatory framework within the cryptocurrency markets having with an emphasis on violations and dangers within the industry.<\/p>\n\n\n\n

The roadmap goes against the recently proposed blanket ban on cryptocurrencies - as per the Russian Central Bank. Suggesting that crypto-related activities such as payments, exchange, and mining be banned, as it risks financial stability for the citizens of the nation.<\/p>\n\n\n\n

What Do Russia's Regulations Entail?<\/h2>\n\n\n\n

The National Bank, through this guide, advocates having an administrative and prohibitive system for cryptocurrencies. This change of position comes after Putin demanded showing up at an agreement in regards to this.<\/p>\n\n\n\n

Putin has recognized that, although cryptocurrencies convey a specific measure of hazard coming from its volatility, digital currency mining guarantees a ton of upper hand to the country.<\/p>\n\n\n\n

Since Russia enjoys the benefit of having the option to give cheap power, it will remain the third-biggest country for crypto mining.<\/p>\n\n\n\n

\"Regulation will only provide the transparency that will ensure the protection of citizens.\"<\/strong><\/em><\/p>Ivan Chebeskov, Head Of The Financial Policy Department<\/cite><\/blockquote>\n\n\n\n

<\/p>\n","post_title":"Will Russia Ban Bitcoin? Likely Not; Here's Why...","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"will-russia-ban-bitcoin-likely-not-heres-why","to_ping":"","pinged":"","post_modified":"2023-04-11 12:56:24","post_modified_gmt":"2023-04-11 02:56:24","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3341","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"};

1 2

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

The Russian army had launched several missiles aimed at Ukraine, targeting several cities including the capital, Kyiv.<\/p>\n\n\n\n

The Bitcoin (BTC<\/a>) price has dropped 7.26% and Ethereum (ETH<\/a>) dropped 9.48% today according to CoinMarketCap<\/a>. The overall crypto market cap has dropped 8.25% to $1.58 trillion.<\/p>\n\n\n\n

\"\"
Source: CoinMarketCap<\/figcaption><\/figure>\n\n\n\n

The Communities Reactions<\/h2>\n\n\n\n

Ethereum founder Vitalik Buterin, born and raised in Russia,\u00a0tweeted<\/a> in Russian that roughly translates to <\/p>\n\n\n\n

\u201cVery upset by Putin's decision to abandon the possibility of a peaceful solution to the dispute with Ukraine and go to war instead. This is a crime against the Ukrainian and Russian people. I want to wish everyone security, although I know that there will be no security. Glory to Ukraine.\"<\/p>\n\n\n\n

\u00a0He\u00a0added<\/a>\u00a0later in English: \u201cReminder: Ethereum is neutral, but I am not.\u201d<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/VitalikButerin\/status\/1496695424387801090?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1496695424387801090%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fcointelegraph.com%2Fnews%2Fbitcoin-plunges-as-putin-announces-special-military-operation-in-ukraine\n<\/div><\/figure>\n\n\n\n

Altcoin Sherpa,\u00a0an advisor to Atlas DEX tweeted<\/a>\u00a0that \"in these situations and it's not all about the market.\"<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/AltcoinSherpa\/status\/1496685587822256130?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1496685587822256130%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fcointelegraph.com%2Fnews%2Fbitcoin-plunges-as-putin-announces-special-military-operation-in-ukraine\n<\/div><\/figure>\n","post_title":"Crypto Markets Collapse In Reaction To Russias War On Ukraine","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"crypto-markets-collapse-in-reaction-to-russias-war-on-ukraine","to_ping":"","pinged":"","post_modified":"2022-02-24 19:05:05","post_modified_gmt":"2022-02-24 08:05:05","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3581","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3453,"post_author":"1","post_date":"2022-02-12 17:06:40","post_date_gmt":"2022-02-12 06:06:40","post_content":"\n

Gy\u00f6rgy Matolcsy, the governor of the Central Bank of Hungary is supporting the proposed crypto ban by the Russian Central Bank, expressing his agreement with the proposal to ban trading and mining of cryptocurrencies.<\/p>\n\n\n\n

This comes after the recent news<\/a> that the Russian central bank was in support of banning the trading and mining of cryptocurrencies. Matolcsy stated<\/a> that \"it is clear-cut that cryptocurrencies could service illegal activities and tend to build up financial pyramids.\" <\/p>\n\n\n\n

He also added that the \"growth and market value of cryptocurrencies is defined primarily by speculative demand for future growth, which creates bubbles.\u201d Calling for unity within the EU, Matolcsy wants the EU to \"act together\" in order to preempt the building up of \"new financial pyramids and financial bubbles.\"<\/p>\n\n\n\n

It seems that he is in support of banning it from the EU, but not worldwide. \"EU citizens and companies would be allowed to own cryptocurrencies abroad and regulators will track their holdings.\" <\/p>\n\n\n\n

As Matolscy stated above, the growth and market value of cryptocurrencies is defined by speculative demand for future growth, is the support for the ban just a way to see if other countries can manage and regulate cryptocurrencies before he makes a decision on what to do, or is it another technology that isn't fully understood?<\/p>\n","post_title":"Hungarian Central Bank In Support Of Russian Crypto Ban","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"hungarian-central-bank-in-support-of-russian-crypto-ban","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/will-russia-ban-bitcoin-likely-not-heres-why\/","post_modified":"2022-02-12 17:07:44","post_modified_gmt":"2022-02-12 06:07:44","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3453","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3439,"post_author":"1","post_date":"2022-02-10 21:26:57","post_date_gmt":"2022-02-10 10:26:57","post_content":"\n

Russians own over $214 Billion worth, or 12% of the total value<\/a> of cryptocurrencies worldwide, according to a Bloomberg report<\/a>. <\/p>\n\n\n\n

The data coming from the Kremlin and government officials out of Moscow was articulated from analyzing the IP addresses of the most prominent exchange users out of the country along with various other data points, as stated by two officials from Kremlin.<\/p>\n\n\n\n

The data comes after the Russian government had decided to regulate<\/a> rather than ban cryptocurrencies. The analysis will help articulate an overview of the market to assist in their regulations and should be taken with a grain of salt because of the anonymous nature of cryptocurrencies in general.<\/p>\n\n\n\n

\u201cRussians really do have a lot of money in cryptocurrency, but it\u2019s hard to value the true amount...many people are using cash, derivative instruments, or have two passports and can open a crypto wallet in someone else\u2019s name.\u201d<\/em><\/strong><\/p>Alexander Filatov, Co-Founder and CEO of TON Labs<\/a><\/cite><\/blockquote>\n\n\n\n

The statistics offer a snapshot of how widespread cryptocurrency investing has become in Russia being the\u00a0third-biggest<\/a>\u00a0Bitcoin miner in the world, as officials at the central bank push for a blanket ban on the local industry, while the government pursues a softer approach.((https:\/\/www.bloomberg.com\/news\/articles\/2022-02-01\/russia-values-local-crypto-market-at-200-billion-as-rules-near))\u00a0<\/p>\n","post_title":"Russians Own 12% Of The Worlds Cryptocurrencies","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"russians-own-12-of-the-worlds-cryptocurrencies","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/will-russia-ban-bitcoin-likely-not-heres-why\/","post_modified":"2023-04-30 21:39:59","post_modified_gmt":"2023-04-30 11:39:59","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3439","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3341,"post_author":"1","post_date":"2022-01-31 22:09:02","post_date_gmt":"2022-01-31 11:09:02","post_content":"\n

The Russian Government has started the development of a guide that will present limitations on cryptocurrencies.<\/p>\n\n\n\n

The roadmap presented by the Russian Government and approved by Deputy Chairman Dmitry Chernyshenko will work to ease the adoption of cryptocurrencies while halting financial instability. <\/p>\n\n\n\n

It will seek to provide a regulatory framework within the cryptocurrency markets having with an emphasis on violations and dangers within the industry.<\/p>\n\n\n\n

The roadmap goes against the recently proposed blanket ban on cryptocurrencies - as per the Russian Central Bank. Suggesting that crypto-related activities such as payments, exchange, and mining be banned, as it risks financial stability for the citizens of the nation.<\/p>\n\n\n\n

What Do Russia's Regulations Entail?<\/h2>\n\n\n\n

The National Bank, through this guide, advocates having an administrative and prohibitive system for cryptocurrencies. This change of position comes after Putin demanded showing up at an agreement in regards to this.<\/p>\n\n\n\n

Putin has recognized that, although cryptocurrencies convey a specific measure of hazard coming from its volatility, digital currency mining guarantees a ton of upper hand to the country.<\/p>\n\n\n\n

Since Russia enjoys the benefit of having the option to give cheap power, it will remain the third-biggest country for crypto mining.<\/p>\n\n\n\n

\"Regulation will only provide the transparency that will ensure the protection of citizens.\"<\/strong><\/em><\/p>Ivan Chebeskov, Head Of The Financial Policy Department<\/cite><\/blockquote>\n\n\n\n

<\/p>\n","post_title":"Will Russia Ban Bitcoin? Likely Not; Here's Why...","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"will-russia-ban-bitcoin-likely-not-heres-why","to_ping":"","pinged":"","post_modified":"2023-04-11 12:56:24","post_modified_gmt":"2023-04-11 02:56:24","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3341","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"};

1 2

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

After Russian President, Vladamir Putin announced<\/a> a \"special military operation\" in Ukraine global markets have tanked.<\/p>\n\n\n\n

The Russian army had launched several missiles aimed at Ukraine, targeting several cities including the capital, Kyiv.<\/p>\n\n\n\n

The Bitcoin (BTC<\/a>) price has dropped 7.26% and Ethereum (ETH<\/a>) dropped 9.48% today according to CoinMarketCap<\/a>. The overall crypto market cap has dropped 8.25% to $1.58 trillion.<\/p>\n\n\n\n

\"\"
Source: CoinMarketCap<\/figcaption><\/figure>\n\n\n\n

The Communities Reactions<\/h2>\n\n\n\n

Ethereum founder Vitalik Buterin, born and raised in Russia,\u00a0tweeted<\/a> in Russian that roughly translates to <\/p>\n\n\n\n

\u201cVery upset by Putin's decision to abandon the possibility of a peaceful solution to the dispute with Ukraine and go to war instead. This is a crime against the Ukrainian and Russian people. I want to wish everyone security, although I know that there will be no security. Glory to Ukraine.\"<\/p>\n\n\n\n

\u00a0He\u00a0added<\/a>\u00a0later in English: \u201cReminder: Ethereum is neutral, but I am not.\u201d<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/VitalikButerin\/status\/1496695424387801090?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1496695424387801090%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fcointelegraph.com%2Fnews%2Fbitcoin-plunges-as-putin-announces-special-military-operation-in-ukraine\n<\/div><\/figure>\n\n\n\n

Altcoin Sherpa,\u00a0an advisor to Atlas DEX tweeted<\/a>\u00a0that \"in these situations and it's not all about the market.\"<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/AltcoinSherpa\/status\/1496685587822256130?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1496685587822256130%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fcointelegraph.com%2Fnews%2Fbitcoin-plunges-as-putin-announces-special-military-operation-in-ukraine\n<\/div><\/figure>\n","post_title":"Crypto Markets Collapse In Reaction To Russias War On Ukraine","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"crypto-markets-collapse-in-reaction-to-russias-war-on-ukraine","to_ping":"","pinged":"","post_modified":"2022-02-24 19:05:05","post_modified_gmt":"2022-02-24 08:05:05","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3581","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3453,"post_author":"1","post_date":"2022-02-12 17:06:40","post_date_gmt":"2022-02-12 06:06:40","post_content":"\n

Gy\u00f6rgy Matolcsy, the governor of the Central Bank of Hungary is supporting the proposed crypto ban by the Russian Central Bank, expressing his agreement with the proposal to ban trading and mining of cryptocurrencies.<\/p>\n\n\n\n

This comes after the recent news<\/a> that the Russian central bank was in support of banning the trading and mining of cryptocurrencies. Matolcsy stated<\/a> that \"it is clear-cut that cryptocurrencies could service illegal activities and tend to build up financial pyramids.\" <\/p>\n\n\n\n

He also added that the \"growth and market value of cryptocurrencies is defined primarily by speculative demand for future growth, which creates bubbles.\u201d Calling for unity within the EU, Matolcsy wants the EU to \"act together\" in order to preempt the building up of \"new financial pyramids and financial bubbles.\"<\/p>\n\n\n\n

It seems that he is in support of banning it from the EU, but not worldwide. \"EU citizens and companies would be allowed to own cryptocurrencies abroad and regulators will track their holdings.\" <\/p>\n\n\n\n

As Matolscy stated above, the growth and market value of cryptocurrencies is defined by speculative demand for future growth, is the support for the ban just a way to see if other countries can manage and regulate cryptocurrencies before he makes a decision on what to do, or is it another technology that isn't fully understood?<\/p>\n","post_title":"Hungarian Central Bank In Support Of Russian Crypto Ban","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"hungarian-central-bank-in-support-of-russian-crypto-ban","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/will-russia-ban-bitcoin-likely-not-heres-why\/","post_modified":"2022-02-12 17:07:44","post_modified_gmt":"2022-02-12 06:07:44","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3453","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3439,"post_author":"1","post_date":"2022-02-10 21:26:57","post_date_gmt":"2022-02-10 10:26:57","post_content":"\n

Russians own over $214 Billion worth, or 12% of the total value<\/a> of cryptocurrencies worldwide, according to a Bloomberg report<\/a>. <\/p>\n\n\n\n

The data coming from the Kremlin and government officials out of Moscow was articulated from analyzing the IP addresses of the most prominent exchange users out of the country along with various other data points, as stated by two officials from Kremlin.<\/p>\n\n\n\n

The data comes after the Russian government had decided to regulate<\/a> rather than ban cryptocurrencies. The analysis will help articulate an overview of the market to assist in their regulations and should be taken with a grain of salt because of the anonymous nature of cryptocurrencies in general.<\/p>\n\n\n\n

\u201cRussians really do have a lot of money in cryptocurrency, but it\u2019s hard to value the true amount...many people are using cash, derivative instruments, or have two passports and can open a crypto wallet in someone else\u2019s name.\u201d<\/em><\/strong><\/p>Alexander Filatov, Co-Founder and CEO of TON Labs<\/a><\/cite><\/blockquote>\n\n\n\n

The statistics offer a snapshot of how widespread cryptocurrency investing has become in Russia being the\u00a0third-biggest<\/a>\u00a0Bitcoin miner in the world, as officials at the central bank push for a blanket ban on the local industry, while the government pursues a softer approach.((https:\/\/www.bloomberg.com\/news\/articles\/2022-02-01\/russia-values-local-crypto-market-at-200-billion-as-rules-near))\u00a0<\/p>\n","post_title":"Russians Own 12% Of The Worlds Cryptocurrencies","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"russians-own-12-of-the-worlds-cryptocurrencies","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/will-russia-ban-bitcoin-likely-not-heres-why\/","post_modified":"2023-04-30 21:39:59","post_modified_gmt":"2023-04-30 11:39:59","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3439","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3341,"post_author":"1","post_date":"2022-01-31 22:09:02","post_date_gmt":"2022-01-31 11:09:02","post_content":"\n

The Russian Government has started the development of a guide that will present limitations on cryptocurrencies.<\/p>\n\n\n\n

The roadmap presented by the Russian Government and approved by Deputy Chairman Dmitry Chernyshenko will work to ease the adoption of cryptocurrencies while halting financial instability. <\/p>\n\n\n\n

It will seek to provide a regulatory framework within the cryptocurrency markets having with an emphasis on violations and dangers within the industry.<\/p>\n\n\n\n

The roadmap goes against the recently proposed blanket ban on cryptocurrencies - as per the Russian Central Bank. Suggesting that crypto-related activities such as payments, exchange, and mining be banned, as it risks financial stability for the citizens of the nation.<\/p>\n\n\n\n

What Do Russia's Regulations Entail?<\/h2>\n\n\n\n

The National Bank, through this guide, advocates having an administrative and prohibitive system for cryptocurrencies. This change of position comes after Putin demanded showing up at an agreement in regards to this.<\/p>\n\n\n\n

Putin has recognized that, although cryptocurrencies convey a specific measure of hazard coming from its volatility, digital currency mining guarantees a ton of upper hand to the country.<\/p>\n\n\n\n

Since Russia enjoys the benefit of having the option to give cheap power, it will remain the third-biggest country for crypto mining.<\/p>\n\n\n\n

\"Regulation will only provide the transparency that will ensure the protection of citizens.\"<\/strong><\/em><\/p>Ivan Chebeskov, Head Of The Financial Policy Department<\/cite><\/blockquote>\n\n\n\n

<\/p>\n","post_title":"Will Russia Ban Bitcoin? Likely Not; Here's Why...","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"will-russia-ban-bitcoin-likely-not-heres-why","to_ping":"","pinged":"","post_modified":"2023-04-11 12:56:24","post_modified_gmt":"2023-04-11 02:56:24","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3341","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"};

1 2

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

Cryptocurrency prices have dropped<\/a> dramatically due to fears over the war, despite this support in cryptocurrencies have become one of the main ways to support various causes.<\/p>\n","post_title":"$4M+ In Bitcoin Donated To Support Ukrainian Military","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"4m-in-bitcoin-donated-to-support-ukrainian-military","to_ping":"","pinged":"","post_modified":"2023-04-30 21:39:12","post_modified_gmt":"2023-04-30 11:39:12","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3591","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3581,"post_author":"1","post_date":"2022-02-24 19:01:39","post_date_gmt":"2022-02-24 08:01:39","post_content":"\n

After Russian President, Vladamir Putin announced<\/a> a \"special military operation\" in Ukraine global markets have tanked.<\/p>\n\n\n\n

The Russian army had launched several missiles aimed at Ukraine, targeting several cities including the capital, Kyiv.<\/p>\n\n\n\n

The Bitcoin (BTC<\/a>) price has dropped 7.26% and Ethereum (ETH<\/a>) dropped 9.48% today according to CoinMarketCap<\/a>. The overall crypto market cap has dropped 8.25% to $1.58 trillion.<\/p>\n\n\n\n

\"\"
Source: CoinMarketCap<\/figcaption><\/figure>\n\n\n\n

The Communities Reactions<\/h2>\n\n\n\n

Ethereum founder Vitalik Buterin, born and raised in Russia,\u00a0tweeted<\/a> in Russian that roughly translates to <\/p>\n\n\n\n

\u201cVery upset by Putin's decision to abandon the possibility of a peaceful solution to the dispute with Ukraine and go to war instead. This is a crime against the Ukrainian and Russian people. I want to wish everyone security, although I know that there will be no security. Glory to Ukraine.\"<\/p>\n\n\n\n

\u00a0He\u00a0added<\/a>\u00a0later in English: \u201cReminder: Ethereum is neutral, but I am not.\u201d<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/VitalikButerin\/status\/1496695424387801090?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1496695424387801090%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fcointelegraph.com%2Fnews%2Fbitcoin-plunges-as-putin-announces-special-military-operation-in-ukraine\n<\/div><\/figure>\n\n\n\n

Altcoin Sherpa,\u00a0an advisor to Atlas DEX tweeted<\/a>\u00a0that \"in these situations and it's not all about the market.\"<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/AltcoinSherpa\/status\/1496685587822256130?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1496685587822256130%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fcointelegraph.com%2Fnews%2Fbitcoin-plunges-as-putin-announces-special-military-operation-in-ukraine\n<\/div><\/figure>\n","post_title":"Crypto Markets Collapse In Reaction To Russias War On Ukraine","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"crypto-markets-collapse-in-reaction-to-russias-war-on-ukraine","to_ping":"","pinged":"","post_modified":"2022-02-24 19:05:05","post_modified_gmt":"2022-02-24 08:05:05","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3581","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3453,"post_author":"1","post_date":"2022-02-12 17:06:40","post_date_gmt":"2022-02-12 06:06:40","post_content":"\n

Gy\u00f6rgy Matolcsy, the governor of the Central Bank of Hungary is supporting the proposed crypto ban by the Russian Central Bank, expressing his agreement with the proposal to ban trading and mining of cryptocurrencies.<\/p>\n\n\n\n

This comes after the recent news<\/a> that the Russian central bank was in support of banning the trading and mining of cryptocurrencies. Matolcsy stated<\/a> that \"it is clear-cut that cryptocurrencies could service illegal activities and tend to build up financial pyramids.\" <\/p>\n\n\n\n

He also added that the \"growth and market value of cryptocurrencies is defined primarily by speculative demand for future growth, which creates bubbles.\u201d Calling for unity within the EU, Matolcsy wants the EU to \"act together\" in order to preempt the building up of \"new financial pyramids and financial bubbles.\"<\/p>\n\n\n\n

It seems that he is in support of banning it from the EU, but not worldwide. \"EU citizens and companies would be allowed to own cryptocurrencies abroad and regulators will track their holdings.\" <\/p>\n\n\n\n

As Matolscy stated above, the growth and market value of cryptocurrencies is defined by speculative demand for future growth, is the support for the ban just a way to see if other countries can manage and regulate cryptocurrencies before he makes a decision on what to do, or is it another technology that isn't fully understood?<\/p>\n","post_title":"Hungarian Central Bank In Support Of Russian Crypto Ban","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"hungarian-central-bank-in-support-of-russian-crypto-ban","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/will-russia-ban-bitcoin-likely-not-heres-why\/","post_modified":"2022-02-12 17:07:44","post_modified_gmt":"2022-02-12 06:07:44","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3453","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3439,"post_author":"1","post_date":"2022-02-10 21:26:57","post_date_gmt":"2022-02-10 10:26:57","post_content":"\n

Russians own over $214 Billion worth, or 12% of the total value<\/a> of cryptocurrencies worldwide, according to a Bloomberg report<\/a>. <\/p>\n\n\n\n

The data coming from the Kremlin and government officials out of Moscow was articulated from analyzing the IP addresses of the most prominent exchange users out of the country along with various other data points, as stated by two officials from Kremlin.<\/p>\n\n\n\n

The data comes after the Russian government had decided to regulate<\/a> rather than ban cryptocurrencies. The analysis will help articulate an overview of the market to assist in their regulations and should be taken with a grain of salt because of the anonymous nature of cryptocurrencies in general.<\/p>\n\n\n\n

\u201cRussians really do have a lot of money in cryptocurrency, but it\u2019s hard to value the true amount...many people are using cash, derivative instruments, or have two passports and can open a crypto wallet in someone else\u2019s name.\u201d<\/em><\/strong><\/p>Alexander Filatov, Co-Founder and CEO of TON Labs<\/a><\/cite><\/blockquote>\n\n\n\n

The statistics offer a snapshot of how widespread cryptocurrency investing has become in Russia being the\u00a0third-biggest<\/a>\u00a0Bitcoin miner in the world, as officials at the central bank push for a blanket ban on the local industry, while the government pursues a softer approach.((https:\/\/www.bloomberg.com\/news\/articles\/2022-02-01\/russia-values-local-crypto-market-at-200-billion-as-rules-near))\u00a0<\/p>\n","post_title":"Russians Own 12% Of The Worlds Cryptocurrencies","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"russians-own-12-of-the-worlds-cryptocurrencies","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/will-russia-ban-bitcoin-likely-not-heres-why\/","post_modified":"2023-04-30 21:39:59","post_modified_gmt":"2023-04-30 11:39:59","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3439","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3341,"post_author":"1","post_date":"2022-01-31 22:09:02","post_date_gmt":"2022-01-31 11:09:02","post_content":"\n

The Russian Government has started the development of a guide that will present limitations on cryptocurrencies.<\/p>\n\n\n\n

The roadmap presented by the Russian Government and approved by Deputy Chairman Dmitry Chernyshenko will work to ease the adoption of cryptocurrencies while halting financial instability. <\/p>\n\n\n\n

It will seek to provide a regulatory framework within the cryptocurrency markets having with an emphasis on violations and dangers within the industry.<\/p>\n\n\n\n

The roadmap goes against the recently proposed blanket ban on cryptocurrencies - as per the Russian Central Bank. Suggesting that crypto-related activities such as payments, exchange, and mining be banned, as it risks financial stability for the citizens of the nation.<\/p>\n\n\n\n

What Do Russia's Regulations Entail?<\/h2>\n\n\n\n

The National Bank, through this guide, advocates having an administrative and prohibitive system for cryptocurrencies. This change of position comes after Putin demanded showing up at an agreement in regards to this.<\/p>\n\n\n\n

Putin has recognized that, although cryptocurrencies convey a specific measure of hazard coming from its volatility, digital currency mining guarantees a ton of upper hand to the country.<\/p>\n\n\n\n

Since Russia enjoys the benefit of having the option to give cheap power, it will remain the third-biggest country for crypto mining.<\/p>\n\n\n\n

\"Regulation will only provide the transparency that will ensure the protection of citizens.\"<\/strong><\/em><\/p>Ivan Chebeskov, Head Of The Financial Policy Department<\/cite><\/blockquote>\n\n\n\n

<\/p>\n","post_title":"Will Russia Ban Bitcoin? Likely Not; Here's Why...","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"will-russia-ban-bitcoin-likely-not-heres-why","to_ping":"","pinged":"","post_modified":"2023-04-11 12:56:24","post_modified_gmt":"2023-04-11 02:56:24","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3341","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"};

1 2

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

After originally accepting FIAT on Go Fund Me, the page has been inaccessible since Thursday. It was against Go Fund Me policies, but they stated in a blog post<\/a> that they're using their services to support military funding. Every donation sent to the original page will be sent back.<\/p>\n\n\n\n

Cryptocurrency prices have dropped<\/a> dramatically due to fears over the war, despite this support in cryptocurrencies have become one of the main ways to support various causes.<\/p>\n","post_title":"$4M+ In Bitcoin Donated To Support Ukrainian Military","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"4m-in-bitcoin-donated-to-support-ukrainian-military","to_ping":"","pinged":"","post_modified":"2023-04-30 21:39:12","post_modified_gmt":"2023-04-30 11:39:12","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3591","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3581,"post_author":"1","post_date":"2022-02-24 19:01:39","post_date_gmt":"2022-02-24 08:01:39","post_content":"\n

After Russian President, Vladamir Putin announced<\/a> a \"special military operation\" in Ukraine global markets have tanked.<\/p>\n\n\n\n

The Russian army had launched several missiles aimed at Ukraine, targeting several cities including the capital, Kyiv.<\/p>\n\n\n\n

The Bitcoin (BTC<\/a>) price has dropped 7.26% and Ethereum (ETH<\/a>) dropped 9.48% today according to CoinMarketCap<\/a>. The overall crypto market cap has dropped 8.25% to $1.58 trillion.<\/p>\n\n\n\n

\"\"
Source: CoinMarketCap<\/figcaption><\/figure>\n\n\n\n

The Communities Reactions<\/h2>\n\n\n\n

Ethereum founder Vitalik Buterin, born and raised in Russia,\u00a0tweeted<\/a> in Russian that roughly translates to <\/p>\n\n\n\n

\u201cVery upset by Putin's decision to abandon the possibility of a peaceful solution to the dispute with Ukraine and go to war instead. This is a crime against the Ukrainian and Russian people. I want to wish everyone security, although I know that there will be no security. Glory to Ukraine.\"<\/p>\n\n\n\n

\u00a0He\u00a0added<\/a>\u00a0later in English: \u201cReminder: Ethereum is neutral, but I am not.\u201d<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/VitalikButerin\/status\/1496695424387801090?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1496695424387801090%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fcointelegraph.com%2Fnews%2Fbitcoin-plunges-as-putin-announces-special-military-operation-in-ukraine\n<\/div><\/figure>\n\n\n\n

Altcoin Sherpa,\u00a0an advisor to Atlas DEX tweeted<\/a>\u00a0that \"in these situations and it's not all about the market.\"<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/AltcoinSherpa\/status\/1496685587822256130?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1496685587822256130%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fcointelegraph.com%2Fnews%2Fbitcoin-plunges-as-putin-announces-special-military-operation-in-ukraine\n<\/div><\/figure>\n","post_title":"Crypto Markets Collapse In Reaction To Russias War On Ukraine","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"crypto-markets-collapse-in-reaction-to-russias-war-on-ukraine","to_ping":"","pinged":"","post_modified":"2022-02-24 19:05:05","post_modified_gmt":"2022-02-24 08:05:05","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3581","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3453,"post_author":"1","post_date":"2022-02-12 17:06:40","post_date_gmt":"2022-02-12 06:06:40","post_content":"\n

Gy\u00f6rgy Matolcsy, the governor of the Central Bank of Hungary is supporting the proposed crypto ban by the Russian Central Bank, expressing his agreement with the proposal to ban trading and mining of cryptocurrencies.<\/p>\n\n\n\n

This comes after the recent news<\/a> that the Russian central bank was in support of banning the trading and mining of cryptocurrencies. Matolcsy stated<\/a> that \"it is clear-cut that cryptocurrencies could service illegal activities and tend to build up financial pyramids.\" <\/p>\n\n\n\n

He also added that the \"growth and market value of cryptocurrencies is defined primarily by speculative demand for future growth, which creates bubbles.\u201d Calling for unity within the EU, Matolcsy wants the EU to \"act together\" in order to preempt the building up of \"new financial pyramids and financial bubbles.\"<\/p>\n\n\n\n

It seems that he is in support of banning it from the EU, but not worldwide. \"EU citizens and companies would be allowed to own cryptocurrencies abroad and regulators will track their holdings.\" <\/p>\n\n\n\n

As Matolscy stated above, the growth and market value of cryptocurrencies is defined by speculative demand for future growth, is the support for the ban just a way to see if other countries can manage and regulate cryptocurrencies before he makes a decision on what to do, or is it another technology that isn't fully understood?<\/p>\n","post_title":"Hungarian Central Bank In Support Of Russian Crypto Ban","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"hungarian-central-bank-in-support-of-russian-crypto-ban","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/will-russia-ban-bitcoin-likely-not-heres-why\/","post_modified":"2022-02-12 17:07:44","post_modified_gmt":"2022-02-12 06:07:44","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3453","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3439,"post_author":"1","post_date":"2022-02-10 21:26:57","post_date_gmt":"2022-02-10 10:26:57","post_content":"\n

Russians own over $214 Billion worth, or 12% of the total value<\/a> of cryptocurrencies worldwide, according to a Bloomberg report<\/a>. <\/p>\n\n\n\n

The data coming from the Kremlin and government officials out of Moscow was articulated from analyzing the IP addresses of the most prominent exchange users out of the country along with various other data points, as stated by two officials from Kremlin.<\/p>\n\n\n\n

The data comes after the Russian government had decided to regulate<\/a> rather than ban cryptocurrencies. The analysis will help articulate an overview of the market to assist in their regulations and should be taken with a grain of salt because of the anonymous nature of cryptocurrencies in general.<\/p>\n\n\n\n

\u201cRussians really do have a lot of money in cryptocurrency, but it\u2019s hard to value the true amount...many people are using cash, derivative instruments, or have two passports and can open a crypto wallet in someone else\u2019s name.\u201d<\/em><\/strong><\/p>Alexander Filatov, Co-Founder and CEO of TON Labs<\/a><\/cite><\/blockquote>\n\n\n\n

The statistics offer a snapshot of how widespread cryptocurrency investing has become in Russia being the\u00a0third-biggest<\/a>\u00a0Bitcoin miner in the world, as officials at the central bank push for a blanket ban on the local industry, while the government pursues a softer approach.((https:\/\/www.bloomberg.com\/news\/articles\/2022-02-01\/russia-values-local-crypto-market-at-200-billion-as-rules-near))\u00a0<\/p>\n","post_title":"Russians Own 12% Of The Worlds Cryptocurrencies","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"russians-own-12-of-the-worlds-cryptocurrencies","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/will-russia-ban-bitcoin-likely-not-heres-why\/","post_modified":"2023-04-30 21:39:59","post_modified_gmt":"2023-04-30 11:39:59","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3439","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3341,"post_author":"1","post_date":"2022-01-31 22:09:02","post_date_gmt":"2022-01-31 11:09:02","post_content":"\n

The Russian Government has started the development of a guide that will present limitations on cryptocurrencies.<\/p>\n\n\n\n

The roadmap presented by the Russian Government and approved by Deputy Chairman Dmitry Chernyshenko will work to ease the adoption of cryptocurrencies while halting financial instability. <\/p>\n\n\n\n

It will seek to provide a regulatory framework within the cryptocurrency markets having with an emphasis on violations and dangers within the industry.<\/p>\n\n\n\n

The roadmap goes against the recently proposed blanket ban on cryptocurrencies - as per the Russian Central Bank. Suggesting that crypto-related activities such as payments, exchange, and mining be banned, as it risks financial stability for the citizens of the nation.<\/p>\n\n\n\n

What Do Russia's Regulations Entail?<\/h2>\n\n\n\n

The National Bank, through this guide, advocates having an administrative and prohibitive system for cryptocurrencies. This change of position comes after Putin demanded showing up at an agreement in regards to this.<\/p>\n\n\n\n

Putin has recognized that, although cryptocurrencies convey a specific measure of hazard coming from its volatility, digital currency mining guarantees a ton of upper hand to the country.<\/p>\n\n\n\n

Since Russia enjoys the benefit of having the option to give cheap power, it will remain the third-biggest country for crypto mining.<\/p>\n\n\n\n

\"Regulation will only provide the transparency that will ensure the protection of citizens.\"<\/strong><\/em><\/p>Ivan Chebeskov, Head Of The Financial Policy Department<\/cite><\/blockquote>\n\n\n\n

<\/p>\n","post_title":"Will Russia Ban Bitcoin? Likely Not; Here's Why...","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"will-russia-ban-bitcoin-likely-not-heres-why","to_ping":"","pinged":"","post_modified":"2023-04-11 12:56:24","post_modified_gmt":"2023-04-11 02:56:24","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3341","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"};

1 2

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n
\"\"<\/figure>\n\n\n\n

After originally accepting FIAT on Go Fund Me, the page has been inaccessible since Thursday. It was against Go Fund Me policies, but they stated in a blog post<\/a> that they're using their services to support military funding. Every donation sent to the original page will be sent back.<\/p>\n\n\n\n

Cryptocurrency prices have dropped<\/a> dramatically due to fears over the war, despite this support in cryptocurrencies have become one of the main ways to support various causes.<\/p>\n","post_title":"$4M+ In Bitcoin Donated To Support Ukrainian Military","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"4m-in-bitcoin-donated-to-support-ukrainian-military","to_ping":"","pinged":"","post_modified":"2023-04-30 21:39:12","post_modified_gmt":"2023-04-30 11:39:12","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3591","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3581,"post_author":"1","post_date":"2022-02-24 19:01:39","post_date_gmt":"2022-02-24 08:01:39","post_content":"\n

After Russian President, Vladamir Putin announced<\/a> a \"special military operation\" in Ukraine global markets have tanked.<\/p>\n\n\n\n

The Russian army had launched several missiles aimed at Ukraine, targeting several cities including the capital, Kyiv.<\/p>\n\n\n\n

The Bitcoin (BTC<\/a>) price has dropped 7.26% and Ethereum (ETH<\/a>) dropped 9.48% today according to CoinMarketCap<\/a>. The overall crypto market cap has dropped 8.25% to $1.58 trillion.<\/p>\n\n\n\n

\"\"
Source: CoinMarketCap<\/figcaption><\/figure>\n\n\n\n

The Communities Reactions<\/h2>\n\n\n\n

Ethereum founder Vitalik Buterin, born and raised in Russia,\u00a0tweeted<\/a> in Russian that roughly translates to <\/p>\n\n\n\n

\u201cVery upset by Putin's decision to abandon the possibility of a peaceful solution to the dispute with Ukraine and go to war instead. This is a crime against the Ukrainian and Russian people. I want to wish everyone security, although I know that there will be no security. Glory to Ukraine.\"<\/p>\n\n\n\n

\u00a0He\u00a0added<\/a>\u00a0later in English: \u201cReminder: Ethereum is neutral, but I am not.\u201d<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/VitalikButerin\/status\/1496695424387801090?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1496695424387801090%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fcointelegraph.com%2Fnews%2Fbitcoin-plunges-as-putin-announces-special-military-operation-in-ukraine\n<\/div><\/figure>\n\n\n\n

Altcoin Sherpa,\u00a0an advisor to Atlas DEX tweeted<\/a>\u00a0that \"in these situations and it's not all about the market.\"<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/AltcoinSherpa\/status\/1496685587822256130?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1496685587822256130%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fcointelegraph.com%2Fnews%2Fbitcoin-plunges-as-putin-announces-special-military-operation-in-ukraine\n<\/div><\/figure>\n","post_title":"Crypto Markets Collapse In Reaction To Russias War On Ukraine","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"crypto-markets-collapse-in-reaction-to-russias-war-on-ukraine","to_ping":"","pinged":"","post_modified":"2022-02-24 19:05:05","post_modified_gmt":"2022-02-24 08:05:05","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3581","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3453,"post_author":"1","post_date":"2022-02-12 17:06:40","post_date_gmt":"2022-02-12 06:06:40","post_content":"\n

Gy\u00f6rgy Matolcsy, the governor of the Central Bank of Hungary is supporting the proposed crypto ban by the Russian Central Bank, expressing his agreement with the proposal to ban trading and mining of cryptocurrencies.<\/p>\n\n\n\n

This comes after the recent news<\/a> that the Russian central bank was in support of banning the trading and mining of cryptocurrencies. Matolcsy stated<\/a> that \"it is clear-cut that cryptocurrencies could service illegal activities and tend to build up financial pyramids.\" <\/p>\n\n\n\n

He also added that the \"growth and market value of cryptocurrencies is defined primarily by speculative demand for future growth, which creates bubbles.\u201d Calling for unity within the EU, Matolcsy wants the EU to \"act together\" in order to preempt the building up of \"new financial pyramids and financial bubbles.\"<\/p>\n\n\n\n

It seems that he is in support of banning it from the EU, but not worldwide. \"EU citizens and companies would be allowed to own cryptocurrencies abroad and regulators will track their holdings.\" <\/p>\n\n\n\n

As Matolscy stated above, the growth and market value of cryptocurrencies is defined by speculative demand for future growth, is the support for the ban just a way to see if other countries can manage and regulate cryptocurrencies before he makes a decision on what to do, or is it another technology that isn't fully understood?<\/p>\n","post_title":"Hungarian Central Bank In Support Of Russian Crypto Ban","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"hungarian-central-bank-in-support-of-russian-crypto-ban","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/will-russia-ban-bitcoin-likely-not-heres-why\/","post_modified":"2022-02-12 17:07:44","post_modified_gmt":"2022-02-12 06:07:44","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3453","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3439,"post_author":"1","post_date":"2022-02-10 21:26:57","post_date_gmt":"2022-02-10 10:26:57","post_content":"\n

Russians own over $214 Billion worth, or 12% of the total value<\/a> of cryptocurrencies worldwide, according to a Bloomberg report<\/a>. <\/p>\n\n\n\n

The data coming from the Kremlin and government officials out of Moscow was articulated from analyzing the IP addresses of the most prominent exchange users out of the country along with various other data points, as stated by two officials from Kremlin.<\/p>\n\n\n\n

The data comes after the Russian government had decided to regulate<\/a> rather than ban cryptocurrencies. The analysis will help articulate an overview of the market to assist in their regulations and should be taken with a grain of salt because of the anonymous nature of cryptocurrencies in general.<\/p>\n\n\n\n

\u201cRussians really do have a lot of money in cryptocurrency, but it\u2019s hard to value the true amount...many people are using cash, derivative instruments, or have two passports and can open a crypto wallet in someone else\u2019s name.\u201d<\/em><\/strong><\/p>Alexander Filatov, Co-Founder and CEO of TON Labs<\/a><\/cite><\/blockquote>\n\n\n\n

The statistics offer a snapshot of how widespread cryptocurrency investing has become in Russia being the\u00a0third-biggest<\/a>\u00a0Bitcoin miner in the world, as officials at the central bank push for a blanket ban on the local industry, while the government pursues a softer approach.((https:\/\/www.bloomberg.com\/news\/articles\/2022-02-01\/russia-values-local-crypto-market-at-200-billion-as-rules-near))\u00a0<\/p>\n","post_title":"Russians Own 12% Of The Worlds Cryptocurrencies","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"russians-own-12-of-the-worlds-cryptocurrencies","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/will-russia-ban-bitcoin-likely-not-heres-why\/","post_modified":"2023-04-30 21:39:59","post_modified_gmt":"2023-04-30 11:39:59","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3439","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3341,"post_author":"1","post_date":"2022-01-31 22:09:02","post_date_gmt":"2022-01-31 11:09:02","post_content":"\n

The Russian Government has started the development of a guide that will present limitations on cryptocurrencies.<\/p>\n\n\n\n

The roadmap presented by the Russian Government and approved by Deputy Chairman Dmitry Chernyshenko will work to ease the adoption of cryptocurrencies while halting financial instability. <\/p>\n\n\n\n

It will seek to provide a regulatory framework within the cryptocurrency markets having with an emphasis on violations and dangers within the industry.<\/p>\n\n\n\n

The roadmap goes against the recently proposed blanket ban on cryptocurrencies - as per the Russian Central Bank. Suggesting that crypto-related activities such as payments, exchange, and mining be banned, as it risks financial stability for the citizens of the nation.<\/p>\n\n\n\n

What Do Russia's Regulations Entail?<\/h2>\n\n\n\n

The National Bank, through this guide, advocates having an administrative and prohibitive system for cryptocurrencies. This change of position comes after Putin demanded showing up at an agreement in regards to this.<\/p>\n\n\n\n

Putin has recognized that, although cryptocurrencies convey a specific measure of hazard coming from its volatility, digital currency mining guarantees a ton of upper hand to the country.<\/p>\n\n\n\n

Since Russia enjoys the benefit of having the option to give cheap power, it will remain the third-biggest country for crypto mining.<\/p>\n\n\n\n

\"Regulation will only provide the transparency that will ensure the protection of citizens.\"<\/strong><\/em><\/p>Ivan Chebeskov, Head Of The Financial Policy Department<\/cite><\/blockquote>\n\n\n\n

<\/p>\n","post_title":"Will Russia Ban Bitcoin? Likely Not; Here's Why...","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"will-russia-ban-bitcoin-likely-not-heres-why","to_ping":"","pinged":"","post_modified":"2023-04-11 12:56:24","post_modified_gmt":"2023-04-11 02:56:24","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3341","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"};

1 2

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

Fortune reported<\/a> that $400,000 was donated after news of Russia's invasion, according to data <\/a>from blockchain and crypto analytics firm, Elliptic. Hitting over $4,000,000 today, with several contributions of over $1,000 according to Come Back Alive's director, Taras Chmut. <\/p>\n\n\n\n

\"\"<\/figure>\n\n\n\n

After originally accepting FIAT on Go Fund Me, the page has been inaccessible since Thursday. It was against Go Fund Me policies, but they stated in a blog post<\/a> that they're using their services to support military funding. Every donation sent to the original page will be sent back.<\/p>\n\n\n\n

Cryptocurrency prices have dropped<\/a> dramatically due to fears over the war, despite this support in cryptocurrencies have become one of the main ways to support various causes.<\/p>\n","post_title":"$4M+ In Bitcoin Donated To Support Ukrainian Military","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"4m-in-bitcoin-donated-to-support-ukrainian-military","to_ping":"","pinged":"","post_modified":"2023-04-30 21:39:12","post_modified_gmt":"2023-04-30 11:39:12","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3591","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3581,"post_author":"1","post_date":"2022-02-24 19:01:39","post_date_gmt":"2022-02-24 08:01:39","post_content":"\n

After Russian President, Vladamir Putin announced<\/a> a \"special military operation\" in Ukraine global markets have tanked.<\/p>\n\n\n\n

The Russian army had launched several missiles aimed at Ukraine, targeting several cities including the capital, Kyiv.<\/p>\n\n\n\n

The Bitcoin (BTC<\/a>) price has dropped 7.26% and Ethereum (ETH<\/a>) dropped 9.48% today according to CoinMarketCap<\/a>. The overall crypto market cap has dropped 8.25% to $1.58 trillion.<\/p>\n\n\n\n

\"\"
Source: CoinMarketCap<\/figcaption><\/figure>\n\n\n\n

The Communities Reactions<\/h2>\n\n\n\n

Ethereum founder Vitalik Buterin, born and raised in Russia,\u00a0tweeted<\/a> in Russian that roughly translates to <\/p>\n\n\n\n

\u201cVery upset by Putin's decision to abandon the possibility of a peaceful solution to the dispute with Ukraine and go to war instead. This is a crime against the Ukrainian and Russian people. I want to wish everyone security, although I know that there will be no security. Glory to Ukraine.\"<\/p>\n\n\n\n

\u00a0He\u00a0added<\/a>\u00a0later in English: \u201cReminder: Ethereum is neutral, but I am not.\u201d<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/VitalikButerin\/status\/1496695424387801090?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1496695424387801090%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fcointelegraph.com%2Fnews%2Fbitcoin-plunges-as-putin-announces-special-military-operation-in-ukraine\n<\/div><\/figure>\n\n\n\n

Altcoin Sherpa,\u00a0an advisor to Atlas DEX tweeted<\/a>\u00a0that \"in these situations and it's not all about the market.\"<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/AltcoinSherpa\/status\/1496685587822256130?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1496685587822256130%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fcointelegraph.com%2Fnews%2Fbitcoin-plunges-as-putin-announces-special-military-operation-in-ukraine\n<\/div><\/figure>\n","post_title":"Crypto Markets Collapse In Reaction To Russias War On Ukraine","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"crypto-markets-collapse-in-reaction-to-russias-war-on-ukraine","to_ping":"","pinged":"","post_modified":"2022-02-24 19:05:05","post_modified_gmt":"2022-02-24 08:05:05","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3581","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3453,"post_author":"1","post_date":"2022-02-12 17:06:40","post_date_gmt":"2022-02-12 06:06:40","post_content":"\n

Gy\u00f6rgy Matolcsy, the governor of the Central Bank of Hungary is supporting the proposed crypto ban by the Russian Central Bank, expressing his agreement with the proposal to ban trading and mining of cryptocurrencies.<\/p>\n\n\n\n

This comes after the recent news<\/a> that the Russian central bank was in support of banning the trading and mining of cryptocurrencies. Matolcsy stated<\/a> that \"it is clear-cut that cryptocurrencies could service illegal activities and tend to build up financial pyramids.\" <\/p>\n\n\n\n

He also added that the \"growth and market value of cryptocurrencies is defined primarily by speculative demand for future growth, which creates bubbles.\u201d Calling for unity within the EU, Matolcsy wants the EU to \"act together\" in order to preempt the building up of \"new financial pyramids and financial bubbles.\"<\/p>\n\n\n\n

It seems that he is in support of banning it from the EU, but not worldwide. \"EU citizens and companies would be allowed to own cryptocurrencies abroad and regulators will track their holdings.\" <\/p>\n\n\n\n

As Matolscy stated above, the growth and market value of cryptocurrencies is defined by speculative demand for future growth, is the support for the ban just a way to see if other countries can manage and regulate cryptocurrencies before he makes a decision on what to do, or is it another technology that isn't fully understood?<\/p>\n","post_title":"Hungarian Central Bank In Support Of Russian Crypto Ban","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"hungarian-central-bank-in-support-of-russian-crypto-ban","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/will-russia-ban-bitcoin-likely-not-heres-why\/","post_modified":"2022-02-12 17:07:44","post_modified_gmt":"2022-02-12 06:07:44","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3453","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3439,"post_author":"1","post_date":"2022-02-10 21:26:57","post_date_gmt":"2022-02-10 10:26:57","post_content":"\n

Russians own over $214 Billion worth, or 12% of the total value<\/a> of cryptocurrencies worldwide, according to a Bloomberg report<\/a>. <\/p>\n\n\n\n

The data coming from the Kremlin and government officials out of Moscow was articulated from analyzing the IP addresses of the most prominent exchange users out of the country along with various other data points, as stated by two officials from Kremlin.<\/p>\n\n\n\n

The data comes after the Russian government had decided to regulate<\/a> rather than ban cryptocurrencies. The analysis will help articulate an overview of the market to assist in their regulations and should be taken with a grain of salt because of the anonymous nature of cryptocurrencies in general.<\/p>\n\n\n\n

\u201cRussians really do have a lot of money in cryptocurrency, but it\u2019s hard to value the true amount...many people are using cash, derivative instruments, or have two passports and can open a crypto wallet in someone else\u2019s name.\u201d<\/em><\/strong><\/p>Alexander Filatov, Co-Founder and CEO of TON Labs<\/a><\/cite><\/blockquote>\n\n\n\n

The statistics offer a snapshot of how widespread cryptocurrency investing has become in Russia being the\u00a0third-biggest<\/a>\u00a0Bitcoin miner in the world, as officials at the central bank push for a blanket ban on the local industry, while the government pursues a softer approach.((https:\/\/www.bloomberg.com\/news\/articles\/2022-02-01\/russia-values-local-crypto-market-at-200-billion-as-rules-near))\u00a0<\/p>\n","post_title":"Russians Own 12% Of The Worlds Cryptocurrencies","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"russians-own-12-of-the-worlds-cryptocurrencies","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/will-russia-ban-bitcoin-likely-not-heres-why\/","post_modified":"2023-04-30 21:39:59","post_modified_gmt":"2023-04-30 11:39:59","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3439","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3341,"post_author":"1","post_date":"2022-01-31 22:09:02","post_date_gmt":"2022-01-31 11:09:02","post_content":"\n

The Russian Government has started the development of a guide that will present limitations on cryptocurrencies.<\/p>\n\n\n\n

The roadmap presented by the Russian Government and approved by Deputy Chairman Dmitry Chernyshenko will work to ease the adoption of cryptocurrencies while halting financial instability. <\/p>\n\n\n\n

It will seek to provide a regulatory framework within the cryptocurrency markets having with an emphasis on violations and dangers within the industry.<\/p>\n\n\n\n

The roadmap goes against the recently proposed blanket ban on cryptocurrencies - as per the Russian Central Bank. Suggesting that crypto-related activities such as payments, exchange, and mining be banned, as it risks financial stability for the citizens of the nation.<\/p>\n\n\n\n

What Do Russia's Regulations Entail?<\/h2>\n\n\n\n

The National Bank, through this guide, advocates having an administrative and prohibitive system for cryptocurrencies. This change of position comes after Putin demanded showing up at an agreement in regards to this.<\/p>\n\n\n\n

Putin has recognized that, although cryptocurrencies convey a specific measure of hazard coming from its volatility, digital currency mining guarantees a ton of upper hand to the country.<\/p>\n\n\n\n

Since Russia enjoys the benefit of having the option to give cheap power, it will remain the third-biggest country for crypto mining.<\/p>\n\n\n\n

\"Regulation will only provide the transparency that will ensure the protection of citizens.\"<\/strong><\/em><\/p>Ivan Chebeskov, Head Of The Financial Policy Department<\/cite><\/blockquote>\n\n\n\n

<\/p>\n","post_title":"Will Russia Ban Bitcoin? Likely Not; Here's Why...","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"will-russia-ban-bitcoin-likely-not-heres-why","to_ping":"","pinged":"","post_modified":"2023-04-11 12:56:24","post_modified_gmt":"2023-04-11 02:56:24","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3341","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"};

1 2

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

Come Back Alive<\/a> is a Kyiv-based non-profit. Funds were donated to their Bitcoin wallet<\/a> will finance military equipment like medical kits and armor for the Ukrainian soldiers.<\/p>\n\n\n\n

Fortune reported<\/a> that $400,000 was donated after news of Russia's invasion, according to data <\/a>from blockchain and crypto analytics firm, Elliptic. Hitting over $4,000,000 today, with several contributions of over $1,000 according to Come Back Alive's director, Taras Chmut. <\/p>\n\n\n\n

\"\"<\/figure>\n\n\n\n

After originally accepting FIAT on Go Fund Me, the page has been inaccessible since Thursday. It was against Go Fund Me policies, but they stated in a blog post<\/a> that they're using their services to support military funding. Every donation sent to the original page will be sent back.<\/p>\n\n\n\n

Cryptocurrency prices have dropped<\/a> dramatically due to fears over the war, despite this support in cryptocurrencies have become one of the main ways to support various causes.<\/p>\n","post_title":"$4M+ In Bitcoin Donated To Support Ukrainian Military","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"4m-in-bitcoin-donated-to-support-ukrainian-military","to_ping":"","pinged":"","post_modified":"2023-04-30 21:39:12","post_modified_gmt":"2023-04-30 11:39:12","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3591","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3581,"post_author":"1","post_date":"2022-02-24 19:01:39","post_date_gmt":"2022-02-24 08:01:39","post_content":"\n

After Russian President, Vladamir Putin announced<\/a> a \"special military operation\" in Ukraine global markets have tanked.<\/p>\n\n\n\n

The Russian army had launched several missiles aimed at Ukraine, targeting several cities including the capital, Kyiv.<\/p>\n\n\n\n

The Bitcoin (BTC<\/a>) price has dropped 7.26% and Ethereum (ETH<\/a>) dropped 9.48% today according to CoinMarketCap<\/a>. The overall crypto market cap has dropped 8.25% to $1.58 trillion.<\/p>\n\n\n\n

\"\"
Source: CoinMarketCap<\/figcaption><\/figure>\n\n\n\n

The Communities Reactions<\/h2>\n\n\n\n

Ethereum founder Vitalik Buterin, born and raised in Russia,\u00a0tweeted<\/a> in Russian that roughly translates to <\/p>\n\n\n\n

\u201cVery upset by Putin's decision to abandon the possibility of a peaceful solution to the dispute with Ukraine and go to war instead. This is a crime against the Ukrainian and Russian people. I want to wish everyone security, although I know that there will be no security. Glory to Ukraine.\"<\/p>\n\n\n\n

\u00a0He\u00a0added<\/a>\u00a0later in English: \u201cReminder: Ethereum is neutral, but I am not.\u201d<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/VitalikButerin\/status\/1496695424387801090?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1496695424387801090%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fcointelegraph.com%2Fnews%2Fbitcoin-plunges-as-putin-announces-special-military-operation-in-ukraine\n<\/div><\/figure>\n\n\n\n

Altcoin Sherpa,\u00a0an advisor to Atlas DEX tweeted<\/a>\u00a0that \"in these situations and it's not all about the market.\"<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/AltcoinSherpa\/status\/1496685587822256130?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1496685587822256130%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fcointelegraph.com%2Fnews%2Fbitcoin-plunges-as-putin-announces-special-military-operation-in-ukraine\n<\/div><\/figure>\n","post_title":"Crypto Markets Collapse In Reaction To Russias War On Ukraine","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"crypto-markets-collapse-in-reaction-to-russias-war-on-ukraine","to_ping":"","pinged":"","post_modified":"2022-02-24 19:05:05","post_modified_gmt":"2022-02-24 08:05:05","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3581","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3453,"post_author":"1","post_date":"2022-02-12 17:06:40","post_date_gmt":"2022-02-12 06:06:40","post_content":"\n

Gy\u00f6rgy Matolcsy, the governor of the Central Bank of Hungary is supporting the proposed crypto ban by the Russian Central Bank, expressing his agreement with the proposal to ban trading and mining of cryptocurrencies.<\/p>\n\n\n\n

This comes after the recent news<\/a> that the Russian central bank was in support of banning the trading and mining of cryptocurrencies. Matolcsy stated<\/a> that \"it is clear-cut that cryptocurrencies could service illegal activities and tend to build up financial pyramids.\" <\/p>\n\n\n\n

He also added that the \"growth and market value of cryptocurrencies is defined primarily by speculative demand for future growth, which creates bubbles.\u201d Calling for unity within the EU, Matolcsy wants the EU to \"act together\" in order to preempt the building up of \"new financial pyramids and financial bubbles.\"<\/p>\n\n\n\n

It seems that he is in support of banning it from the EU, but not worldwide. \"EU citizens and companies would be allowed to own cryptocurrencies abroad and regulators will track their holdings.\" <\/p>\n\n\n\n

As Matolscy stated above, the growth and market value of cryptocurrencies is defined by speculative demand for future growth, is the support for the ban just a way to see if other countries can manage and regulate cryptocurrencies before he makes a decision on what to do, or is it another technology that isn't fully understood?<\/p>\n","post_title":"Hungarian Central Bank In Support Of Russian Crypto Ban","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"hungarian-central-bank-in-support-of-russian-crypto-ban","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/will-russia-ban-bitcoin-likely-not-heres-why\/","post_modified":"2022-02-12 17:07:44","post_modified_gmt":"2022-02-12 06:07:44","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3453","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3439,"post_author":"1","post_date":"2022-02-10 21:26:57","post_date_gmt":"2022-02-10 10:26:57","post_content":"\n

Russians own over $214 Billion worth, or 12% of the total value<\/a> of cryptocurrencies worldwide, according to a Bloomberg report<\/a>. <\/p>\n\n\n\n

The data coming from the Kremlin and government officials out of Moscow was articulated from analyzing the IP addresses of the most prominent exchange users out of the country along with various other data points, as stated by two officials from Kremlin.<\/p>\n\n\n\n

The data comes after the Russian government had decided to regulate<\/a> rather than ban cryptocurrencies. The analysis will help articulate an overview of the market to assist in their regulations and should be taken with a grain of salt because of the anonymous nature of cryptocurrencies in general.<\/p>\n\n\n\n

\u201cRussians really do have a lot of money in cryptocurrency, but it\u2019s hard to value the true amount...many people are using cash, derivative instruments, or have two passports and can open a crypto wallet in someone else\u2019s name.\u201d<\/em><\/strong><\/p>Alexander Filatov, Co-Founder and CEO of TON Labs<\/a><\/cite><\/blockquote>\n\n\n\n

The statistics offer a snapshot of how widespread cryptocurrency investing has become in Russia being the\u00a0third-biggest<\/a>\u00a0Bitcoin miner in the world, as officials at the central bank push for a blanket ban on the local industry, while the government pursues a softer approach.((https:\/\/www.bloomberg.com\/news\/articles\/2022-02-01\/russia-values-local-crypto-market-at-200-billion-as-rules-near))\u00a0<\/p>\n","post_title":"Russians Own 12% Of The Worlds Cryptocurrencies","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"russians-own-12-of-the-worlds-cryptocurrencies","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/will-russia-ban-bitcoin-likely-not-heres-why\/","post_modified":"2023-04-30 21:39:59","post_modified_gmt":"2023-04-30 11:39:59","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3439","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3341,"post_author":"1","post_date":"2022-01-31 22:09:02","post_date_gmt":"2022-01-31 11:09:02","post_content":"\n

The Russian Government has started the development of a guide that will present limitations on cryptocurrencies.<\/p>\n\n\n\n

The roadmap presented by the Russian Government and approved by Deputy Chairman Dmitry Chernyshenko will work to ease the adoption of cryptocurrencies while halting financial instability. <\/p>\n\n\n\n

It will seek to provide a regulatory framework within the cryptocurrency markets having with an emphasis on violations and dangers within the industry.<\/p>\n\n\n\n

The roadmap goes against the recently proposed blanket ban on cryptocurrencies - as per the Russian Central Bank. Suggesting that crypto-related activities such as payments, exchange, and mining be banned, as it risks financial stability for the citizens of the nation.<\/p>\n\n\n\n

What Do Russia's Regulations Entail?<\/h2>\n\n\n\n

The National Bank, through this guide, advocates having an administrative and prohibitive system for cryptocurrencies. This change of position comes after Putin demanded showing up at an agreement in regards to this.<\/p>\n\n\n\n

Putin has recognized that, although cryptocurrencies convey a specific measure of hazard coming from its volatility, digital currency mining guarantees a ton of upper hand to the country.<\/p>\n\n\n\n

Since Russia enjoys the benefit of having the option to give cheap power, it will remain the third-biggest country for crypto mining.<\/p>\n\n\n\n

\"Regulation will only provide the transparency that will ensure the protection of citizens.\"<\/strong><\/em><\/p>Ivan Chebeskov, Head Of The Financial Policy Department<\/cite><\/blockquote>\n\n\n\n

<\/p>\n","post_title":"Will Russia Ban Bitcoin? Likely Not; Here's Why...","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"will-russia-ban-bitcoin-likely-not-heres-why","to_ping":"","pinged":"","post_modified":"2023-04-11 12:56:24","post_modified_gmt":"2023-04-11 02:56:24","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3341","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"};

1 2

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

Amidst the war between Russia<\/a> and Ukraine, thousands have shown their support through Bitcoin donations to the military.<\/p>\n\n\n\n

Come Back Alive<\/a> is a Kyiv-based non-profit. Funds were donated to their Bitcoin wallet<\/a> will finance military equipment like medical kits and armor for the Ukrainian soldiers.<\/p>\n\n\n\n

Fortune reported<\/a> that $400,000 was donated after news of Russia's invasion, according to data <\/a>from blockchain and crypto analytics firm, Elliptic. Hitting over $4,000,000 today, with several contributions of over $1,000 according to Come Back Alive's director, Taras Chmut. <\/p>\n\n\n\n

\"\"<\/figure>\n\n\n\n

After originally accepting FIAT on Go Fund Me, the page has been inaccessible since Thursday. It was against Go Fund Me policies, but they stated in a blog post<\/a> that they're using their services to support military funding. Every donation sent to the original page will be sent back.<\/p>\n\n\n\n

Cryptocurrency prices have dropped<\/a> dramatically due to fears over the war, despite this support in cryptocurrencies have become one of the main ways to support various causes.<\/p>\n","post_title":"$4M+ In Bitcoin Donated To Support Ukrainian Military","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"4m-in-bitcoin-donated-to-support-ukrainian-military","to_ping":"","pinged":"","post_modified":"2023-04-30 21:39:12","post_modified_gmt":"2023-04-30 11:39:12","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3591","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3581,"post_author":"1","post_date":"2022-02-24 19:01:39","post_date_gmt":"2022-02-24 08:01:39","post_content":"\n

After Russian President, Vladamir Putin announced<\/a> a \"special military operation\" in Ukraine global markets have tanked.<\/p>\n\n\n\n

The Russian army had launched several missiles aimed at Ukraine, targeting several cities including the capital, Kyiv.<\/p>\n\n\n\n

The Bitcoin (BTC<\/a>) price has dropped 7.26% and Ethereum (ETH<\/a>) dropped 9.48% today according to CoinMarketCap<\/a>. The overall crypto market cap has dropped 8.25% to $1.58 trillion.<\/p>\n\n\n\n

\"\"
Source: CoinMarketCap<\/figcaption><\/figure>\n\n\n\n

The Communities Reactions<\/h2>\n\n\n\n

Ethereum founder Vitalik Buterin, born and raised in Russia,\u00a0tweeted<\/a> in Russian that roughly translates to <\/p>\n\n\n\n

\u201cVery upset by Putin's decision to abandon the possibility of a peaceful solution to the dispute with Ukraine and go to war instead. This is a crime against the Ukrainian and Russian people. I want to wish everyone security, although I know that there will be no security. Glory to Ukraine.\"<\/p>\n\n\n\n

\u00a0He\u00a0added<\/a>\u00a0later in English: \u201cReminder: Ethereum is neutral, but I am not.\u201d<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/VitalikButerin\/status\/1496695424387801090?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1496695424387801090%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fcointelegraph.com%2Fnews%2Fbitcoin-plunges-as-putin-announces-special-military-operation-in-ukraine\n<\/div><\/figure>\n\n\n\n

Altcoin Sherpa,\u00a0an advisor to Atlas DEX tweeted<\/a>\u00a0that \"in these situations and it's not all about the market.\"<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/AltcoinSherpa\/status\/1496685587822256130?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1496685587822256130%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fcointelegraph.com%2Fnews%2Fbitcoin-plunges-as-putin-announces-special-military-operation-in-ukraine\n<\/div><\/figure>\n","post_title":"Crypto Markets Collapse In Reaction To Russias War On Ukraine","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"crypto-markets-collapse-in-reaction-to-russias-war-on-ukraine","to_ping":"","pinged":"","post_modified":"2022-02-24 19:05:05","post_modified_gmt":"2022-02-24 08:05:05","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3581","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3453,"post_author":"1","post_date":"2022-02-12 17:06:40","post_date_gmt":"2022-02-12 06:06:40","post_content":"\n

Gy\u00f6rgy Matolcsy, the governor of the Central Bank of Hungary is supporting the proposed crypto ban by the Russian Central Bank, expressing his agreement with the proposal to ban trading and mining of cryptocurrencies.<\/p>\n\n\n\n

This comes after the recent news<\/a> that the Russian central bank was in support of banning the trading and mining of cryptocurrencies. Matolcsy stated<\/a> that \"it is clear-cut that cryptocurrencies could service illegal activities and tend to build up financial pyramids.\" <\/p>\n\n\n\n

He also added that the \"growth and market value of cryptocurrencies is defined primarily by speculative demand for future growth, which creates bubbles.\u201d Calling for unity within the EU, Matolcsy wants the EU to \"act together\" in order to preempt the building up of \"new financial pyramids and financial bubbles.\"<\/p>\n\n\n\n

It seems that he is in support of banning it from the EU, but not worldwide. \"EU citizens and companies would be allowed to own cryptocurrencies abroad and regulators will track their holdings.\" <\/p>\n\n\n\n

As Matolscy stated above, the growth and market value of cryptocurrencies is defined by speculative demand for future growth, is the support for the ban just a way to see if other countries can manage and regulate cryptocurrencies before he makes a decision on what to do, or is it another technology that isn't fully understood?<\/p>\n","post_title":"Hungarian Central Bank In Support Of Russian Crypto Ban","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"hungarian-central-bank-in-support-of-russian-crypto-ban","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/will-russia-ban-bitcoin-likely-not-heres-why\/","post_modified":"2022-02-12 17:07:44","post_modified_gmt":"2022-02-12 06:07:44","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3453","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3439,"post_author":"1","post_date":"2022-02-10 21:26:57","post_date_gmt":"2022-02-10 10:26:57","post_content":"\n

Russians own over $214 Billion worth, or 12% of the total value<\/a> of cryptocurrencies worldwide, according to a Bloomberg report<\/a>. <\/p>\n\n\n\n

The data coming from the Kremlin and government officials out of Moscow was articulated from analyzing the IP addresses of the most prominent exchange users out of the country along with various other data points, as stated by two officials from Kremlin.<\/p>\n\n\n\n

The data comes after the Russian government had decided to regulate<\/a> rather than ban cryptocurrencies. The analysis will help articulate an overview of the market to assist in their regulations and should be taken with a grain of salt because of the anonymous nature of cryptocurrencies in general.<\/p>\n\n\n\n

\u201cRussians really do have a lot of money in cryptocurrency, but it\u2019s hard to value the true amount...many people are using cash, derivative instruments, or have two passports and can open a crypto wallet in someone else\u2019s name.\u201d<\/em><\/strong><\/p>Alexander Filatov, Co-Founder and CEO of TON Labs<\/a><\/cite><\/blockquote>\n\n\n\n

The statistics offer a snapshot of how widespread cryptocurrency investing has become in Russia being the\u00a0third-biggest<\/a>\u00a0Bitcoin miner in the world, as officials at the central bank push for a blanket ban on the local industry, while the government pursues a softer approach.((https:\/\/www.bloomberg.com\/news\/articles\/2022-02-01\/russia-values-local-crypto-market-at-200-billion-as-rules-near))\u00a0<\/p>\n","post_title":"Russians Own 12% Of The Worlds Cryptocurrencies","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"russians-own-12-of-the-worlds-cryptocurrencies","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/will-russia-ban-bitcoin-likely-not-heres-why\/","post_modified":"2023-04-30 21:39:59","post_modified_gmt":"2023-04-30 11:39:59","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3439","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3341,"post_author":"1","post_date":"2022-01-31 22:09:02","post_date_gmt":"2022-01-31 11:09:02","post_content":"\n

The Russian Government has started the development of a guide that will present limitations on cryptocurrencies.<\/p>\n\n\n\n

The roadmap presented by the Russian Government and approved by Deputy Chairman Dmitry Chernyshenko will work to ease the adoption of cryptocurrencies while halting financial instability. <\/p>\n\n\n\n

It will seek to provide a regulatory framework within the cryptocurrency markets having with an emphasis on violations and dangers within the industry.<\/p>\n\n\n\n

The roadmap goes against the recently proposed blanket ban on cryptocurrencies - as per the Russian Central Bank. Suggesting that crypto-related activities such as payments, exchange, and mining be banned, as it risks financial stability for the citizens of the nation.<\/p>\n\n\n\n

What Do Russia's Regulations Entail?<\/h2>\n\n\n\n

The National Bank, through this guide, advocates having an administrative and prohibitive system for cryptocurrencies. This change of position comes after Putin demanded showing up at an agreement in regards to this.<\/p>\n\n\n\n

Putin has recognized that, although cryptocurrencies convey a specific measure of hazard coming from its volatility, digital currency mining guarantees a ton of upper hand to the country.<\/p>\n\n\n\n

Since Russia enjoys the benefit of having the option to give cheap power, it will remain the third-biggest country for crypto mining.<\/p>\n\n\n\n

\"Regulation will only provide the transparency that will ensure the protection of citizens.\"<\/strong><\/em><\/p>Ivan Chebeskov, Head Of The Financial Policy Department<\/cite><\/blockquote>\n\n\n\n

<\/p>\n","post_title":"Will Russia Ban Bitcoin? Likely Not; Here's Why...","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"will-russia-ban-bitcoin-likely-not-heres-why","to_ping":"","pinged":"","post_modified":"2023-04-11 12:56:24","post_modified_gmt":"2023-04-11 02:56:24","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3341","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"};

1 2

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

Despite global markets taking a huge hit<\/a> after the news, Ukrainians were quick to react to the news in case of an economic crisis.<\/p>\n","post_title":"Kuna, A Ukrainian Crypto Exchange Has Tripled In Volume","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"kuna-a-ukrainian-crypto-exchange-has-tripled-in-volume","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/crypto-markets-collapse-in-reaction-to-russias-war-on-ukraine\/","post_modified":"2022-02-26 22:20:07","post_modified_gmt":"2022-02-26 11:20:07","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3608","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3591,"post_author":"1","post_date":"2022-02-26 00:05:26","post_date_gmt":"2022-02-25 13:05:26","post_content":"\n

Amidst the war between Russia<\/a> and Ukraine, thousands have shown their support through Bitcoin donations to the military.<\/p>\n\n\n\n

Come Back Alive<\/a> is a Kyiv-based non-profit. Funds were donated to their Bitcoin wallet<\/a> will finance military equipment like medical kits and armor for the Ukrainian soldiers.<\/p>\n\n\n\n

Fortune reported<\/a> that $400,000 was donated after news of Russia's invasion, according to data <\/a>from blockchain and crypto analytics firm, Elliptic. Hitting over $4,000,000 today, with several contributions of over $1,000 according to Come Back Alive's director, Taras Chmut. <\/p>\n\n\n\n

\"\"<\/figure>\n\n\n\n

After originally accepting FIAT on Go Fund Me, the page has been inaccessible since Thursday. It was against Go Fund Me policies, but they stated in a blog post<\/a> that they're using their services to support military funding. Every donation sent to the original page will be sent back.<\/p>\n\n\n\n

Cryptocurrency prices have dropped<\/a> dramatically due to fears over the war, despite this support in cryptocurrencies have become one of the main ways to support various causes.<\/p>\n","post_title":"$4M+ In Bitcoin Donated To Support Ukrainian Military","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"4m-in-bitcoin-donated-to-support-ukrainian-military","to_ping":"","pinged":"","post_modified":"2023-04-30 21:39:12","post_modified_gmt":"2023-04-30 11:39:12","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3591","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3581,"post_author":"1","post_date":"2022-02-24 19:01:39","post_date_gmt":"2022-02-24 08:01:39","post_content":"\n

After Russian President, Vladamir Putin announced<\/a> a \"special military operation\" in Ukraine global markets have tanked.<\/p>\n\n\n\n

The Russian army had launched several missiles aimed at Ukraine, targeting several cities including the capital, Kyiv.<\/p>\n\n\n\n

The Bitcoin (BTC<\/a>) price has dropped 7.26% and Ethereum (ETH<\/a>) dropped 9.48% today according to CoinMarketCap<\/a>. The overall crypto market cap has dropped 8.25% to $1.58 trillion.<\/p>\n\n\n\n

\"\"
Source: CoinMarketCap<\/figcaption><\/figure>\n\n\n\n

The Communities Reactions<\/h2>\n\n\n\n

Ethereum founder Vitalik Buterin, born and raised in Russia,\u00a0tweeted<\/a> in Russian that roughly translates to <\/p>\n\n\n\n

\u201cVery upset by Putin's decision to abandon the possibility of a peaceful solution to the dispute with Ukraine and go to war instead. This is a crime against the Ukrainian and Russian people. I want to wish everyone security, although I know that there will be no security. Glory to Ukraine.\"<\/p>\n\n\n\n

\u00a0He\u00a0added<\/a>\u00a0later in English: \u201cReminder: Ethereum is neutral, but I am not.\u201d<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/VitalikButerin\/status\/1496695424387801090?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1496695424387801090%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fcointelegraph.com%2Fnews%2Fbitcoin-plunges-as-putin-announces-special-military-operation-in-ukraine\n<\/div><\/figure>\n\n\n\n

Altcoin Sherpa,\u00a0an advisor to Atlas DEX tweeted<\/a>\u00a0that \"in these situations and it's not all about the market.\"<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/AltcoinSherpa\/status\/1496685587822256130?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1496685587822256130%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fcointelegraph.com%2Fnews%2Fbitcoin-plunges-as-putin-announces-special-military-operation-in-ukraine\n<\/div><\/figure>\n","post_title":"Crypto Markets Collapse In Reaction To Russias War On Ukraine","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"crypto-markets-collapse-in-reaction-to-russias-war-on-ukraine","to_ping":"","pinged":"","post_modified":"2022-02-24 19:05:05","post_modified_gmt":"2022-02-24 08:05:05","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3581","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3453,"post_author":"1","post_date":"2022-02-12 17:06:40","post_date_gmt":"2022-02-12 06:06:40","post_content":"\n

Gy\u00f6rgy Matolcsy, the governor of the Central Bank of Hungary is supporting the proposed crypto ban by the Russian Central Bank, expressing his agreement with the proposal to ban trading and mining of cryptocurrencies.<\/p>\n\n\n\n

This comes after the recent news<\/a> that the Russian central bank was in support of banning the trading and mining of cryptocurrencies. Matolcsy stated<\/a> that \"it is clear-cut that cryptocurrencies could service illegal activities and tend to build up financial pyramids.\" <\/p>\n\n\n\n

He also added that the \"growth and market value of cryptocurrencies is defined primarily by speculative demand for future growth, which creates bubbles.\u201d Calling for unity within the EU, Matolcsy wants the EU to \"act together\" in order to preempt the building up of \"new financial pyramids and financial bubbles.\"<\/p>\n\n\n\n

It seems that he is in support of banning it from the EU, but not worldwide. \"EU citizens and companies would be allowed to own cryptocurrencies abroad and regulators will track their holdings.\" <\/p>\n\n\n\n

As Matolscy stated above, the growth and market value of cryptocurrencies is defined by speculative demand for future growth, is the support for the ban just a way to see if other countries can manage and regulate cryptocurrencies before he makes a decision on what to do, or is it another technology that isn't fully understood?<\/p>\n","post_title":"Hungarian Central Bank In Support Of Russian Crypto Ban","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"hungarian-central-bank-in-support-of-russian-crypto-ban","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/will-russia-ban-bitcoin-likely-not-heres-why\/","post_modified":"2022-02-12 17:07:44","post_modified_gmt":"2022-02-12 06:07:44","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3453","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3439,"post_author":"1","post_date":"2022-02-10 21:26:57","post_date_gmt":"2022-02-10 10:26:57","post_content":"\n

Russians own over $214 Billion worth, or 12% of the total value<\/a> of cryptocurrencies worldwide, according to a Bloomberg report<\/a>. <\/p>\n\n\n\n

The data coming from the Kremlin and government officials out of Moscow was articulated from analyzing the IP addresses of the most prominent exchange users out of the country along with various other data points, as stated by two officials from Kremlin.<\/p>\n\n\n\n

The data comes after the Russian government had decided to regulate<\/a> rather than ban cryptocurrencies. The analysis will help articulate an overview of the market to assist in their regulations and should be taken with a grain of salt because of the anonymous nature of cryptocurrencies in general.<\/p>\n\n\n\n

\u201cRussians really do have a lot of money in cryptocurrency, but it\u2019s hard to value the true amount...many people are using cash, derivative instruments, or have two passports and can open a crypto wallet in someone else\u2019s name.\u201d<\/em><\/strong><\/p>Alexander Filatov, Co-Founder and CEO of TON Labs<\/a><\/cite><\/blockquote>\n\n\n\n

The statistics offer a snapshot of how widespread cryptocurrency investing has become in Russia being the\u00a0third-biggest<\/a>\u00a0Bitcoin miner in the world, as officials at the central bank push for a blanket ban on the local industry, while the government pursues a softer approach.((https:\/\/www.bloomberg.com\/news\/articles\/2022-02-01\/russia-values-local-crypto-market-at-200-billion-as-rules-near))\u00a0<\/p>\n","post_title":"Russians Own 12% Of The Worlds Cryptocurrencies","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"russians-own-12-of-the-worlds-cryptocurrencies","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/will-russia-ban-bitcoin-likely-not-heres-why\/","post_modified":"2023-04-30 21:39:59","post_modified_gmt":"2023-04-30 11:39:59","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3439","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3341,"post_author":"1","post_date":"2022-01-31 22:09:02","post_date_gmt":"2022-01-31 11:09:02","post_content":"\n

The Russian Government has started the development of a guide that will present limitations on cryptocurrencies.<\/p>\n\n\n\n

The roadmap presented by the Russian Government and approved by Deputy Chairman Dmitry Chernyshenko will work to ease the adoption of cryptocurrencies while halting financial instability. <\/p>\n\n\n\n

It will seek to provide a regulatory framework within the cryptocurrency markets having with an emphasis on violations and dangers within the industry.<\/p>\n\n\n\n

The roadmap goes against the recently proposed blanket ban on cryptocurrencies - as per the Russian Central Bank. Suggesting that crypto-related activities such as payments, exchange, and mining be banned, as it risks financial stability for the citizens of the nation.<\/p>\n\n\n\n

What Do Russia's Regulations Entail?<\/h2>\n\n\n\n

The National Bank, through this guide, advocates having an administrative and prohibitive system for cryptocurrencies. This change of position comes after Putin demanded showing up at an agreement in regards to this.<\/p>\n\n\n\n

Putin has recognized that, although cryptocurrencies convey a specific measure of hazard coming from its volatility, digital currency mining guarantees a ton of upper hand to the country.<\/p>\n\n\n\n

Since Russia enjoys the benefit of having the option to give cheap power, it will remain the third-biggest country for crypto mining.<\/p>\n\n\n\n

\"Regulation will only provide the transparency that will ensure the protection of citizens.\"<\/strong><\/em><\/p>Ivan Chebeskov, Head Of The Financial Policy Department<\/cite><\/blockquote>\n\n\n\n

<\/p>\n","post_title":"Will Russia Ban Bitcoin? Likely Not; Here's Why...","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"will-russia-ban-bitcoin-likely-not-heres-why","to_ping":"","pinged":"","post_modified":"2023-04-11 12:56:24","post_modified_gmt":"2023-04-11 02:56:24","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3341","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"};

1 2

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n
\"\"
Source: CoinGecko<\/figcaption><\/figure>\n\n\n\n

Despite global markets taking a huge hit<\/a> after the news, Ukrainians were quick to react to the news in case of an economic crisis.<\/p>\n","post_title":"Kuna, A Ukrainian Crypto Exchange Has Tripled In Volume","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"kuna-a-ukrainian-crypto-exchange-has-tripled-in-volume","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/crypto-markets-collapse-in-reaction-to-russias-war-on-ukraine\/","post_modified":"2022-02-26 22:20:07","post_modified_gmt":"2022-02-26 11:20:07","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3608","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3591,"post_author":"1","post_date":"2022-02-26 00:05:26","post_date_gmt":"2022-02-25 13:05:26","post_content":"\n

Amidst the war between Russia<\/a> and Ukraine, thousands have shown their support through Bitcoin donations to the military.<\/p>\n\n\n\n

Come Back Alive<\/a> is a Kyiv-based non-profit. Funds were donated to their Bitcoin wallet<\/a> will finance military equipment like medical kits and armor for the Ukrainian soldiers.<\/p>\n\n\n\n

Fortune reported<\/a> that $400,000 was donated after news of Russia's invasion, according to data <\/a>from blockchain and crypto analytics firm, Elliptic. Hitting over $4,000,000 today, with several contributions of over $1,000 according to Come Back Alive's director, Taras Chmut. <\/p>\n\n\n\n

\"\"<\/figure>\n\n\n\n

After originally accepting FIAT on Go Fund Me, the page has been inaccessible since Thursday. It was against Go Fund Me policies, but they stated in a blog post<\/a> that they're using their services to support military funding. Every donation sent to the original page will be sent back.<\/p>\n\n\n\n

Cryptocurrency prices have dropped<\/a> dramatically due to fears over the war, despite this support in cryptocurrencies have become one of the main ways to support various causes.<\/p>\n","post_title":"$4M+ In Bitcoin Donated To Support Ukrainian Military","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"4m-in-bitcoin-donated-to-support-ukrainian-military","to_ping":"","pinged":"","post_modified":"2023-04-30 21:39:12","post_modified_gmt":"2023-04-30 11:39:12","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3591","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3581,"post_author":"1","post_date":"2022-02-24 19:01:39","post_date_gmt":"2022-02-24 08:01:39","post_content":"\n

After Russian President, Vladamir Putin announced<\/a> a \"special military operation\" in Ukraine global markets have tanked.<\/p>\n\n\n\n

The Russian army had launched several missiles aimed at Ukraine, targeting several cities including the capital, Kyiv.<\/p>\n\n\n\n

The Bitcoin (BTC<\/a>) price has dropped 7.26% and Ethereum (ETH<\/a>) dropped 9.48% today according to CoinMarketCap<\/a>. The overall crypto market cap has dropped 8.25% to $1.58 trillion.<\/p>\n\n\n\n

\"\"
Source: CoinMarketCap<\/figcaption><\/figure>\n\n\n\n

The Communities Reactions<\/h2>\n\n\n\n

Ethereum founder Vitalik Buterin, born and raised in Russia,\u00a0tweeted<\/a> in Russian that roughly translates to <\/p>\n\n\n\n

\u201cVery upset by Putin's decision to abandon the possibility of a peaceful solution to the dispute with Ukraine and go to war instead. This is a crime against the Ukrainian and Russian people. I want to wish everyone security, although I know that there will be no security. Glory to Ukraine.\"<\/p>\n\n\n\n

\u00a0He\u00a0added<\/a>\u00a0later in English: \u201cReminder: Ethereum is neutral, but I am not.\u201d<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/VitalikButerin\/status\/1496695424387801090?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1496695424387801090%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fcointelegraph.com%2Fnews%2Fbitcoin-plunges-as-putin-announces-special-military-operation-in-ukraine\n<\/div><\/figure>\n\n\n\n

Altcoin Sherpa,\u00a0an advisor to Atlas DEX tweeted<\/a>\u00a0that \"in these situations and it's not all about the market.\"<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/AltcoinSherpa\/status\/1496685587822256130?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1496685587822256130%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fcointelegraph.com%2Fnews%2Fbitcoin-plunges-as-putin-announces-special-military-operation-in-ukraine\n<\/div><\/figure>\n","post_title":"Crypto Markets Collapse In Reaction To Russias War On Ukraine","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"crypto-markets-collapse-in-reaction-to-russias-war-on-ukraine","to_ping":"","pinged":"","post_modified":"2022-02-24 19:05:05","post_modified_gmt":"2022-02-24 08:05:05","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3581","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3453,"post_author":"1","post_date":"2022-02-12 17:06:40","post_date_gmt":"2022-02-12 06:06:40","post_content":"\n

Gy\u00f6rgy Matolcsy, the governor of the Central Bank of Hungary is supporting the proposed crypto ban by the Russian Central Bank, expressing his agreement with the proposal to ban trading and mining of cryptocurrencies.<\/p>\n\n\n\n

This comes after the recent news<\/a> that the Russian central bank was in support of banning the trading and mining of cryptocurrencies. Matolcsy stated<\/a> that \"it is clear-cut that cryptocurrencies could service illegal activities and tend to build up financial pyramids.\" <\/p>\n\n\n\n

He also added that the \"growth and market value of cryptocurrencies is defined primarily by speculative demand for future growth, which creates bubbles.\u201d Calling for unity within the EU, Matolcsy wants the EU to \"act together\" in order to preempt the building up of \"new financial pyramids and financial bubbles.\"<\/p>\n\n\n\n

It seems that he is in support of banning it from the EU, but not worldwide. \"EU citizens and companies would be allowed to own cryptocurrencies abroad and regulators will track their holdings.\" <\/p>\n\n\n\n

As Matolscy stated above, the growth and market value of cryptocurrencies is defined by speculative demand for future growth, is the support for the ban just a way to see if other countries can manage and regulate cryptocurrencies before he makes a decision on what to do, or is it another technology that isn't fully understood?<\/p>\n","post_title":"Hungarian Central Bank In Support Of Russian Crypto Ban","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"hungarian-central-bank-in-support-of-russian-crypto-ban","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/will-russia-ban-bitcoin-likely-not-heres-why\/","post_modified":"2022-02-12 17:07:44","post_modified_gmt":"2022-02-12 06:07:44","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3453","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3439,"post_author":"1","post_date":"2022-02-10 21:26:57","post_date_gmt":"2022-02-10 10:26:57","post_content":"\n

Russians own over $214 Billion worth, or 12% of the total value<\/a> of cryptocurrencies worldwide, according to a Bloomberg report<\/a>. <\/p>\n\n\n\n

The data coming from the Kremlin and government officials out of Moscow was articulated from analyzing the IP addresses of the most prominent exchange users out of the country along with various other data points, as stated by two officials from Kremlin.<\/p>\n\n\n\n

The data comes after the Russian government had decided to regulate<\/a> rather than ban cryptocurrencies. The analysis will help articulate an overview of the market to assist in their regulations and should be taken with a grain of salt because of the anonymous nature of cryptocurrencies in general.<\/p>\n\n\n\n

\u201cRussians really do have a lot of money in cryptocurrency, but it\u2019s hard to value the true amount...many people are using cash, derivative instruments, or have two passports and can open a crypto wallet in someone else\u2019s name.\u201d<\/em><\/strong><\/p>Alexander Filatov, Co-Founder and CEO of TON Labs<\/a><\/cite><\/blockquote>\n\n\n\n

The statistics offer a snapshot of how widespread cryptocurrency investing has become in Russia being the\u00a0third-biggest<\/a>\u00a0Bitcoin miner in the world, as officials at the central bank push for a blanket ban on the local industry, while the government pursues a softer approach.((https:\/\/www.bloomberg.com\/news\/articles\/2022-02-01\/russia-values-local-crypto-market-at-200-billion-as-rules-near))\u00a0<\/p>\n","post_title":"Russians Own 12% Of The Worlds Cryptocurrencies","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"russians-own-12-of-the-worlds-cryptocurrencies","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/will-russia-ban-bitcoin-likely-not-heres-why\/","post_modified":"2023-04-30 21:39:59","post_modified_gmt":"2023-04-30 11:39:59","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3439","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3341,"post_author":"1","post_date":"2022-01-31 22:09:02","post_date_gmt":"2022-01-31 11:09:02","post_content":"\n

The Russian Government has started the development of a guide that will present limitations on cryptocurrencies.<\/p>\n\n\n\n

The roadmap presented by the Russian Government and approved by Deputy Chairman Dmitry Chernyshenko will work to ease the adoption of cryptocurrencies while halting financial instability. <\/p>\n\n\n\n

It will seek to provide a regulatory framework within the cryptocurrency markets having with an emphasis on violations and dangers within the industry.<\/p>\n\n\n\n

The roadmap goes against the recently proposed blanket ban on cryptocurrencies - as per the Russian Central Bank. Suggesting that crypto-related activities such as payments, exchange, and mining be banned, as it risks financial stability for the citizens of the nation.<\/p>\n\n\n\n

What Do Russia's Regulations Entail?<\/h2>\n\n\n\n

The National Bank, through this guide, advocates having an administrative and prohibitive system for cryptocurrencies. This change of position comes after Putin demanded showing up at an agreement in regards to this.<\/p>\n\n\n\n

Putin has recognized that, although cryptocurrencies convey a specific measure of hazard coming from its volatility, digital currency mining guarantees a ton of upper hand to the country.<\/p>\n\n\n\n

Since Russia enjoys the benefit of having the option to give cheap power, it will remain the third-biggest country for crypto mining.<\/p>\n\n\n\n

\"Regulation will only provide the transparency that will ensure the protection of citizens.\"<\/strong><\/em><\/p>Ivan Chebeskov, Head Of The Financial Policy Department<\/cite><\/blockquote>\n\n\n\n

<\/p>\n","post_title":"Will Russia Ban Bitcoin? Likely Not; Here's Why...","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"will-russia-ban-bitcoin-likely-not-heres-why","to_ping":"","pinged":"","post_modified":"2023-04-11 12:56:24","post_modified_gmt":"2023-04-11 02:56:24","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3341","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"};

1 2

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

Data<\/a> from CoinGecko<\/a> shows prior to the invasion trading volumes on Thursday were around $1.5M, nearing $5M on Friday. Although trading volume has since dropped to around $2M.<\/p>\n\n\n\n

\"\"
Source: CoinGecko<\/figcaption><\/figure>\n\n\n\n

Despite global markets taking a huge hit<\/a> after the news, Ukrainians were quick to react to the news in case of an economic crisis.<\/p>\n","post_title":"Kuna, A Ukrainian Crypto Exchange Has Tripled In Volume","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"kuna-a-ukrainian-crypto-exchange-has-tripled-in-volume","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/crypto-markets-collapse-in-reaction-to-russias-war-on-ukraine\/","post_modified":"2022-02-26 22:20:07","post_modified_gmt":"2022-02-26 11:20:07","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3608","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3591,"post_author":"1","post_date":"2022-02-26 00:05:26","post_date_gmt":"2022-02-25 13:05:26","post_content":"\n

Amidst the war between Russia<\/a> and Ukraine, thousands have shown their support through Bitcoin donations to the military.<\/p>\n\n\n\n

Come Back Alive<\/a> is a Kyiv-based non-profit. Funds were donated to their Bitcoin wallet<\/a> will finance military equipment like medical kits and armor for the Ukrainian soldiers.<\/p>\n\n\n\n

Fortune reported<\/a> that $400,000 was donated after news of Russia's invasion, according to data <\/a>from blockchain and crypto analytics firm, Elliptic. Hitting over $4,000,000 today, with several contributions of over $1,000 according to Come Back Alive's director, Taras Chmut. <\/p>\n\n\n\n

\"\"<\/figure>\n\n\n\n

After originally accepting FIAT on Go Fund Me, the page has been inaccessible since Thursday. It was against Go Fund Me policies, but they stated in a blog post<\/a> that they're using their services to support military funding. Every donation sent to the original page will be sent back.<\/p>\n\n\n\n

Cryptocurrency prices have dropped<\/a> dramatically due to fears over the war, despite this support in cryptocurrencies have become one of the main ways to support various causes.<\/p>\n","post_title":"$4M+ In Bitcoin Donated To Support Ukrainian Military","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"4m-in-bitcoin-donated-to-support-ukrainian-military","to_ping":"","pinged":"","post_modified":"2023-04-30 21:39:12","post_modified_gmt":"2023-04-30 11:39:12","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3591","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3581,"post_author":"1","post_date":"2022-02-24 19:01:39","post_date_gmt":"2022-02-24 08:01:39","post_content":"\n

After Russian President, Vladamir Putin announced<\/a> a \"special military operation\" in Ukraine global markets have tanked.<\/p>\n\n\n\n

The Russian army had launched several missiles aimed at Ukraine, targeting several cities including the capital, Kyiv.<\/p>\n\n\n\n

The Bitcoin (BTC<\/a>) price has dropped 7.26% and Ethereum (ETH<\/a>) dropped 9.48% today according to CoinMarketCap<\/a>. The overall crypto market cap has dropped 8.25% to $1.58 trillion.<\/p>\n\n\n\n

\"\"
Source: CoinMarketCap<\/figcaption><\/figure>\n\n\n\n

The Communities Reactions<\/h2>\n\n\n\n

Ethereum founder Vitalik Buterin, born and raised in Russia,\u00a0tweeted<\/a> in Russian that roughly translates to <\/p>\n\n\n\n

\u201cVery upset by Putin's decision to abandon the possibility of a peaceful solution to the dispute with Ukraine and go to war instead. This is a crime against the Ukrainian and Russian people. I want to wish everyone security, although I know that there will be no security. Glory to Ukraine.\"<\/p>\n\n\n\n

\u00a0He\u00a0added<\/a>\u00a0later in English: \u201cReminder: Ethereum is neutral, but I am not.\u201d<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/VitalikButerin\/status\/1496695424387801090?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1496695424387801090%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fcointelegraph.com%2Fnews%2Fbitcoin-plunges-as-putin-announces-special-military-operation-in-ukraine\n<\/div><\/figure>\n\n\n\n

Altcoin Sherpa,\u00a0an advisor to Atlas DEX tweeted<\/a>\u00a0that \"in these situations and it's not all about the market.\"<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/AltcoinSherpa\/status\/1496685587822256130?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1496685587822256130%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fcointelegraph.com%2Fnews%2Fbitcoin-plunges-as-putin-announces-special-military-operation-in-ukraine\n<\/div><\/figure>\n","post_title":"Crypto Markets Collapse In Reaction To Russias War On Ukraine","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"crypto-markets-collapse-in-reaction-to-russias-war-on-ukraine","to_ping":"","pinged":"","post_modified":"2022-02-24 19:05:05","post_modified_gmt":"2022-02-24 08:05:05","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3581","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3453,"post_author":"1","post_date":"2022-02-12 17:06:40","post_date_gmt":"2022-02-12 06:06:40","post_content":"\n

Gy\u00f6rgy Matolcsy, the governor of the Central Bank of Hungary is supporting the proposed crypto ban by the Russian Central Bank, expressing his agreement with the proposal to ban trading and mining of cryptocurrencies.<\/p>\n\n\n\n

This comes after the recent news<\/a> that the Russian central bank was in support of banning the trading and mining of cryptocurrencies. Matolcsy stated<\/a> that \"it is clear-cut that cryptocurrencies could service illegal activities and tend to build up financial pyramids.\" <\/p>\n\n\n\n

He also added that the \"growth and market value of cryptocurrencies is defined primarily by speculative demand for future growth, which creates bubbles.\u201d Calling for unity within the EU, Matolcsy wants the EU to \"act together\" in order to preempt the building up of \"new financial pyramids and financial bubbles.\"<\/p>\n\n\n\n

It seems that he is in support of banning it from the EU, but not worldwide. \"EU citizens and companies would be allowed to own cryptocurrencies abroad and regulators will track their holdings.\" <\/p>\n\n\n\n

As Matolscy stated above, the growth and market value of cryptocurrencies is defined by speculative demand for future growth, is the support for the ban just a way to see if other countries can manage and regulate cryptocurrencies before he makes a decision on what to do, or is it another technology that isn't fully understood?<\/p>\n","post_title":"Hungarian Central Bank In Support Of Russian Crypto Ban","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"hungarian-central-bank-in-support-of-russian-crypto-ban","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/will-russia-ban-bitcoin-likely-not-heres-why\/","post_modified":"2022-02-12 17:07:44","post_modified_gmt":"2022-02-12 06:07:44","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3453","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3439,"post_author":"1","post_date":"2022-02-10 21:26:57","post_date_gmt":"2022-02-10 10:26:57","post_content":"\n

Russians own over $214 Billion worth, or 12% of the total value<\/a> of cryptocurrencies worldwide, according to a Bloomberg report<\/a>. <\/p>\n\n\n\n

The data coming from the Kremlin and government officials out of Moscow was articulated from analyzing the IP addresses of the most prominent exchange users out of the country along with various other data points, as stated by two officials from Kremlin.<\/p>\n\n\n\n

The data comes after the Russian government had decided to regulate<\/a> rather than ban cryptocurrencies. The analysis will help articulate an overview of the market to assist in their regulations and should be taken with a grain of salt because of the anonymous nature of cryptocurrencies in general.<\/p>\n\n\n\n

\u201cRussians really do have a lot of money in cryptocurrency, but it\u2019s hard to value the true amount...many people are using cash, derivative instruments, or have two passports and can open a crypto wallet in someone else\u2019s name.\u201d<\/em><\/strong><\/p>Alexander Filatov, Co-Founder and CEO of TON Labs<\/a><\/cite><\/blockquote>\n\n\n\n

The statistics offer a snapshot of how widespread cryptocurrency investing has become in Russia being the\u00a0third-biggest<\/a>\u00a0Bitcoin miner in the world, as officials at the central bank push for a blanket ban on the local industry, while the government pursues a softer approach.((https:\/\/www.bloomberg.com\/news\/articles\/2022-02-01\/russia-values-local-crypto-market-at-200-billion-as-rules-near))\u00a0<\/p>\n","post_title":"Russians Own 12% Of The Worlds Cryptocurrencies","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"russians-own-12-of-the-worlds-cryptocurrencies","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/will-russia-ban-bitcoin-likely-not-heres-why\/","post_modified":"2023-04-30 21:39:59","post_modified_gmt":"2023-04-30 11:39:59","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3439","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3341,"post_author":"1","post_date":"2022-01-31 22:09:02","post_date_gmt":"2022-01-31 11:09:02","post_content":"\n

The Russian Government has started the development of a guide that will present limitations on cryptocurrencies.<\/p>\n\n\n\n

The roadmap presented by the Russian Government and approved by Deputy Chairman Dmitry Chernyshenko will work to ease the adoption of cryptocurrencies while halting financial instability. <\/p>\n\n\n\n

It will seek to provide a regulatory framework within the cryptocurrency markets having with an emphasis on violations and dangers within the industry.<\/p>\n\n\n\n

The roadmap goes against the recently proposed blanket ban on cryptocurrencies - as per the Russian Central Bank. Suggesting that crypto-related activities such as payments, exchange, and mining be banned, as it risks financial stability for the citizens of the nation.<\/p>\n\n\n\n

What Do Russia's Regulations Entail?<\/h2>\n\n\n\n

The National Bank, through this guide, advocates having an administrative and prohibitive system for cryptocurrencies. This change of position comes after Putin demanded showing up at an agreement in regards to this.<\/p>\n\n\n\n

Putin has recognized that, although cryptocurrencies convey a specific measure of hazard coming from its volatility, digital currency mining guarantees a ton of upper hand to the country.<\/p>\n\n\n\n

Since Russia enjoys the benefit of having the option to give cheap power, it will remain the third-biggest country for crypto mining.<\/p>\n\n\n\n

\"Regulation will only provide the transparency that will ensure the protection of citizens.\"<\/strong><\/em><\/p>Ivan Chebeskov, Head Of The Financial Policy Department<\/cite><\/blockquote>\n\n\n\n

<\/p>\n","post_title":"Will Russia Ban Bitcoin? Likely Not; Here's Why...","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"will-russia-ban-bitcoin-likely-not-heres-why","to_ping":"","pinged":"","post_modified":"2023-04-11 12:56:24","post_modified_gmt":"2023-04-11 02:56:24","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3341","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"};

1 2

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

Kuna<\/a>, a Ukrainian-based crypto exchange has seen a huge spike in transaction volume after the news of Russia's<\/a> invasion. <\/p>\n\n\n\n

Data<\/a> from CoinGecko<\/a> shows prior to the invasion trading volumes on Thursday were around $1.5M, nearing $5M on Friday. Although trading volume has since dropped to around $2M.<\/p>\n\n\n\n

\"\"
Source: CoinGecko<\/figcaption><\/figure>\n\n\n\n

Despite global markets taking a huge hit<\/a> after the news, Ukrainians were quick to react to the news in case of an economic crisis.<\/p>\n","post_title":"Kuna, A Ukrainian Crypto Exchange Has Tripled In Volume","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"kuna-a-ukrainian-crypto-exchange-has-tripled-in-volume","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/crypto-markets-collapse-in-reaction-to-russias-war-on-ukraine\/","post_modified":"2022-02-26 22:20:07","post_modified_gmt":"2022-02-26 11:20:07","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3608","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3591,"post_author":"1","post_date":"2022-02-26 00:05:26","post_date_gmt":"2022-02-25 13:05:26","post_content":"\n

Amidst the war between Russia<\/a> and Ukraine, thousands have shown their support through Bitcoin donations to the military.<\/p>\n\n\n\n

Come Back Alive<\/a> is a Kyiv-based non-profit. Funds were donated to their Bitcoin wallet<\/a> will finance military equipment like medical kits and armor for the Ukrainian soldiers.<\/p>\n\n\n\n

Fortune reported<\/a> that $400,000 was donated after news of Russia's invasion, according to data <\/a>from blockchain and crypto analytics firm, Elliptic. Hitting over $4,000,000 today, with several contributions of over $1,000 according to Come Back Alive's director, Taras Chmut. <\/p>\n\n\n\n

\"\"<\/figure>\n\n\n\n

After originally accepting FIAT on Go Fund Me, the page has been inaccessible since Thursday. It was against Go Fund Me policies, but they stated in a blog post<\/a> that they're using their services to support military funding. Every donation sent to the original page will be sent back.<\/p>\n\n\n\n

Cryptocurrency prices have dropped<\/a> dramatically due to fears over the war, despite this support in cryptocurrencies have become one of the main ways to support various causes.<\/p>\n","post_title":"$4M+ In Bitcoin Donated To Support Ukrainian Military","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"4m-in-bitcoin-donated-to-support-ukrainian-military","to_ping":"","pinged":"","post_modified":"2023-04-30 21:39:12","post_modified_gmt":"2023-04-30 11:39:12","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3591","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3581,"post_author":"1","post_date":"2022-02-24 19:01:39","post_date_gmt":"2022-02-24 08:01:39","post_content":"\n

After Russian President, Vladamir Putin announced<\/a> a \"special military operation\" in Ukraine global markets have tanked.<\/p>\n\n\n\n

The Russian army had launched several missiles aimed at Ukraine, targeting several cities including the capital, Kyiv.<\/p>\n\n\n\n

The Bitcoin (BTC<\/a>) price has dropped 7.26% and Ethereum (ETH<\/a>) dropped 9.48% today according to CoinMarketCap<\/a>. The overall crypto market cap has dropped 8.25% to $1.58 trillion.<\/p>\n\n\n\n

\"\"
Source: CoinMarketCap<\/figcaption><\/figure>\n\n\n\n

The Communities Reactions<\/h2>\n\n\n\n

Ethereum founder Vitalik Buterin, born and raised in Russia,\u00a0tweeted<\/a> in Russian that roughly translates to <\/p>\n\n\n\n

\u201cVery upset by Putin's decision to abandon the possibility of a peaceful solution to the dispute with Ukraine and go to war instead. This is a crime against the Ukrainian and Russian people. I want to wish everyone security, although I know that there will be no security. Glory to Ukraine.\"<\/p>\n\n\n\n

\u00a0He\u00a0added<\/a>\u00a0later in English: \u201cReminder: Ethereum is neutral, but I am not.\u201d<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/VitalikButerin\/status\/1496695424387801090?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1496695424387801090%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fcointelegraph.com%2Fnews%2Fbitcoin-plunges-as-putin-announces-special-military-operation-in-ukraine\n<\/div><\/figure>\n\n\n\n

Altcoin Sherpa,\u00a0an advisor to Atlas DEX tweeted<\/a>\u00a0that \"in these situations and it's not all about the market.\"<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/AltcoinSherpa\/status\/1496685587822256130?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1496685587822256130%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fcointelegraph.com%2Fnews%2Fbitcoin-plunges-as-putin-announces-special-military-operation-in-ukraine\n<\/div><\/figure>\n","post_title":"Crypto Markets Collapse In Reaction To Russias War On Ukraine","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"crypto-markets-collapse-in-reaction-to-russias-war-on-ukraine","to_ping":"","pinged":"","post_modified":"2022-02-24 19:05:05","post_modified_gmt":"2022-02-24 08:05:05","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3581","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3453,"post_author":"1","post_date":"2022-02-12 17:06:40","post_date_gmt":"2022-02-12 06:06:40","post_content":"\n

Gy\u00f6rgy Matolcsy, the governor of the Central Bank of Hungary is supporting the proposed crypto ban by the Russian Central Bank, expressing his agreement with the proposal to ban trading and mining of cryptocurrencies.<\/p>\n\n\n\n

This comes after the recent news<\/a> that the Russian central bank was in support of banning the trading and mining of cryptocurrencies. Matolcsy stated<\/a> that \"it is clear-cut that cryptocurrencies could service illegal activities and tend to build up financial pyramids.\" <\/p>\n\n\n\n

He also added that the \"growth and market value of cryptocurrencies is defined primarily by speculative demand for future growth, which creates bubbles.\u201d Calling for unity within the EU, Matolcsy wants the EU to \"act together\" in order to preempt the building up of \"new financial pyramids and financial bubbles.\"<\/p>\n\n\n\n

It seems that he is in support of banning it from the EU, but not worldwide. \"EU citizens and companies would be allowed to own cryptocurrencies abroad and regulators will track their holdings.\" <\/p>\n\n\n\n

As Matolscy stated above, the growth and market value of cryptocurrencies is defined by speculative demand for future growth, is the support for the ban just a way to see if other countries can manage and regulate cryptocurrencies before he makes a decision on what to do, or is it another technology that isn't fully understood?<\/p>\n","post_title":"Hungarian Central Bank In Support Of Russian Crypto Ban","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"hungarian-central-bank-in-support-of-russian-crypto-ban","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/will-russia-ban-bitcoin-likely-not-heres-why\/","post_modified":"2022-02-12 17:07:44","post_modified_gmt":"2022-02-12 06:07:44","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3453","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3439,"post_author":"1","post_date":"2022-02-10 21:26:57","post_date_gmt":"2022-02-10 10:26:57","post_content":"\n

Russians own over $214 Billion worth, or 12% of the total value<\/a> of cryptocurrencies worldwide, according to a Bloomberg report<\/a>. <\/p>\n\n\n\n

The data coming from the Kremlin and government officials out of Moscow was articulated from analyzing the IP addresses of the most prominent exchange users out of the country along with various other data points, as stated by two officials from Kremlin.<\/p>\n\n\n\n

The data comes after the Russian government had decided to regulate<\/a> rather than ban cryptocurrencies. The analysis will help articulate an overview of the market to assist in their regulations and should be taken with a grain of salt because of the anonymous nature of cryptocurrencies in general.<\/p>\n\n\n\n

\u201cRussians really do have a lot of money in cryptocurrency, but it\u2019s hard to value the true amount...many people are using cash, derivative instruments, or have two passports and can open a crypto wallet in someone else\u2019s name.\u201d<\/em><\/strong><\/p>Alexander Filatov, Co-Founder and CEO of TON Labs<\/a><\/cite><\/blockquote>\n\n\n\n

The statistics offer a snapshot of how widespread cryptocurrency investing has become in Russia being the\u00a0third-biggest<\/a>\u00a0Bitcoin miner in the world, as officials at the central bank push for a blanket ban on the local industry, while the government pursues a softer approach.((https:\/\/www.bloomberg.com\/news\/articles\/2022-02-01\/russia-values-local-crypto-market-at-200-billion-as-rules-near))\u00a0<\/p>\n","post_title":"Russians Own 12% Of The Worlds Cryptocurrencies","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"russians-own-12-of-the-worlds-cryptocurrencies","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/will-russia-ban-bitcoin-likely-not-heres-why\/","post_modified":"2023-04-30 21:39:59","post_modified_gmt":"2023-04-30 11:39:59","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3439","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3341,"post_author":"1","post_date":"2022-01-31 22:09:02","post_date_gmt":"2022-01-31 11:09:02","post_content":"\n

The Russian Government has started the development of a guide that will present limitations on cryptocurrencies.<\/p>\n\n\n\n

The roadmap presented by the Russian Government and approved by Deputy Chairman Dmitry Chernyshenko will work to ease the adoption of cryptocurrencies while halting financial instability. <\/p>\n\n\n\n

It will seek to provide a regulatory framework within the cryptocurrency markets having with an emphasis on violations and dangers within the industry.<\/p>\n\n\n\n

The roadmap goes against the recently proposed blanket ban on cryptocurrencies - as per the Russian Central Bank. Suggesting that crypto-related activities such as payments, exchange, and mining be banned, as it risks financial stability for the citizens of the nation.<\/p>\n\n\n\n

What Do Russia's Regulations Entail?<\/h2>\n\n\n\n

The National Bank, through this guide, advocates having an administrative and prohibitive system for cryptocurrencies. This change of position comes after Putin demanded showing up at an agreement in regards to this.<\/p>\n\n\n\n

Putin has recognized that, although cryptocurrencies convey a specific measure of hazard coming from its volatility, digital currency mining guarantees a ton of upper hand to the country.<\/p>\n\n\n\n

Since Russia enjoys the benefit of having the option to give cheap power, it will remain the third-biggest country for crypto mining.<\/p>\n\n\n\n

\"Regulation will only provide the transparency that will ensure the protection of citizens.\"<\/strong><\/em><\/p>Ivan Chebeskov, Head Of The Financial Policy Department<\/cite><\/blockquote>\n\n\n\n

<\/p>\n","post_title":"Will Russia Ban Bitcoin? Likely Not; Here's Why...","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"will-russia-ban-bitcoin-likely-not-heres-why","to_ping":"","pinged":"","post_modified":"2023-04-11 12:56:24","post_modified_gmt":"2023-04-11 02:56:24","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3341","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"};

1 2

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\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":3608,"post_author":"1","post_date":"2022-02-26 13:08:41","post_date_gmt":"2022-02-26 02:08:41","post_content":"\n

Kuna<\/a>, a Ukrainian-based crypto exchange has seen a huge spike in transaction volume after the news of Russia's<\/a> invasion. <\/p>\n\n\n\n

Data<\/a> from CoinGecko<\/a> shows prior to the invasion trading volumes on Thursday were around $1.5M, nearing $5M on Friday. Although trading volume has since dropped to around $2M.<\/p>\n\n\n\n

\"\"
Source: CoinGecko<\/figcaption><\/figure>\n\n\n\n

Despite global markets taking a huge hit<\/a> after the news, Ukrainians were quick to react to the news in case of an economic crisis.<\/p>\n","post_title":"Kuna, A Ukrainian Crypto Exchange Has Tripled In Volume","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"kuna-a-ukrainian-crypto-exchange-has-tripled-in-volume","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/crypto-markets-collapse-in-reaction-to-russias-war-on-ukraine\/","post_modified":"2022-02-26 22:20:07","post_modified_gmt":"2022-02-26 11:20:07","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3608","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3591,"post_author":"1","post_date":"2022-02-26 00:05:26","post_date_gmt":"2022-02-25 13:05:26","post_content":"\n

Amidst the war between Russia<\/a> and Ukraine, thousands have shown their support through Bitcoin donations to the military.<\/p>\n\n\n\n

Come Back Alive<\/a> is a Kyiv-based non-profit. Funds were donated to their Bitcoin wallet<\/a> will finance military equipment like medical kits and armor for the Ukrainian soldiers.<\/p>\n\n\n\n

Fortune reported<\/a> that $400,000 was donated after news of Russia's invasion, according to data <\/a>from blockchain and crypto analytics firm, Elliptic. Hitting over $4,000,000 today, with several contributions of over $1,000 according to Come Back Alive's director, Taras Chmut. <\/p>\n\n\n\n

\"\"<\/figure>\n\n\n\n

After originally accepting FIAT on Go Fund Me, the page has been inaccessible since Thursday. It was against Go Fund Me policies, but they stated in a blog post<\/a> that they're using their services to support military funding. Every donation sent to the original page will be sent back.<\/p>\n\n\n\n

Cryptocurrency prices have dropped<\/a> dramatically due to fears over the war, despite this support in cryptocurrencies have become one of the main ways to support various causes.<\/p>\n","post_title":"$4M+ In Bitcoin Donated To Support Ukrainian Military","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"4m-in-bitcoin-donated-to-support-ukrainian-military","to_ping":"","pinged":"","post_modified":"2023-04-30 21:39:12","post_modified_gmt":"2023-04-30 11:39:12","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3591","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3581,"post_author":"1","post_date":"2022-02-24 19:01:39","post_date_gmt":"2022-02-24 08:01:39","post_content":"\n

After Russian President, Vladamir Putin announced<\/a> a \"special military operation\" in Ukraine global markets have tanked.<\/p>\n\n\n\n

The Russian army had launched several missiles aimed at Ukraine, targeting several cities including the capital, Kyiv.<\/p>\n\n\n\n

The Bitcoin (BTC<\/a>) price has dropped 7.26% and Ethereum (ETH<\/a>) dropped 9.48% today according to CoinMarketCap<\/a>. The overall crypto market cap has dropped 8.25% to $1.58 trillion.<\/p>\n\n\n\n

\"\"
Source: CoinMarketCap<\/figcaption><\/figure>\n\n\n\n

The Communities Reactions<\/h2>\n\n\n\n

Ethereum founder Vitalik Buterin, born and raised in Russia,\u00a0tweeted<\/a> in Russian that roughly translates to <\/p>\n\n\n\n

\u201cVery upset by Putin's decision to abandon the possibility of a peaceful solution to the dispute with Ukraine and go to war instead. This is a crime against the Ukrainian and Russian people. I want to wish everyone security, although I know that there will be no security. Glory to Ukraine.\"<\/p>\n\n\n\n

\u00a0He\u00a0added<\/a>\u00a0later in English: \u201cReminder: Ethereum is neutral, but I am not.\u201d<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/VitalikButerin\/status\/1496695424387801090?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1496695424387801090%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fcointelegraph.com%2Fnews%2Fbitcoin-plunges-as-putin-announces-special-military-operation-in-ukraine\n<\/div><\/figure>\n\n\n\n

Altcoin Sherpa,\u00a0an advisor to Atlas DEX tweeted<\/a>\u00a0that \"in these situations and it's not all about the market.\"<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/AltcoinSherpa\/status\/1496685587822256130?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1496685587822256130%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fcointelegraph.com%2Fnews%2Fbitcoin-plunges-as-putin-announces-special-military-operation-in-ukraine\n<\/div><\/figure>\n","post_title":"Crypto Markets Collapse In Reaction To Russias War On Ukraine","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"crypto-markets-collapse-in-reaction-to-russias-war-on-ukraine","to_ping":"","pinged":"","post_modified":"2022-02-24 19:05:05","post_modified_gmt":"2022-02-24 08:05:05","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3581","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3453,"post_author":"1","post_date":"2022-02-12 17:06:40","post_date_gmt":"2022-02-12 06:06:40","post_content":"\n

Gy\u00f6rgy Matolcsy, the governor of the Central Bank of Hungary is supporting the proposed crypto ban by the Russian Central Bank, expressing his agreement with the proposal to ban trading and mining of cryptocurrencies.<\/p>\n\n\n\n

This comes after the recent news<\/a> that the Russian central bank was in support of banning the trading and mining of cryptocurrencies. Matolcsy stated<\/a> that \"it is clear-cut that cryptocurrencies could service illegal activities and tend to build up financial pyramids.\" <\/p>\n\n\n\n

He also added that the \"growth and market value of cryptocurrencies is defined primarily by speculative demand for future growth, which creates bubbles.\u201d Calling for unity within the EU, Matolcsy wants the EU to \"act together\" in order to preempt the building up of \"new financial pyramids and financial bubbles.\"<\/p>\n\n\n\n

It seems that he is in support of banning it from the EU, but not worldwide. \"EU citizens and companies would be allowed to own cryptocurrencies abroad and regulators will track their holdings.\" <\/p>\n\n\n\n

As Matolscy stated above, the growth and market value of cryptocurrencies is defined by speculative demand for future growth, is the support for the ban just a way to see if other countries can manage and regulate cryptocurrencies before he makes a decision on what to do, or is it another technology that isn't fully understood?<\/p>\n","post_title":"Hungarian Central Bank In Support Of Russian Crypto Ban","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"hungarian-central-bank-in-support-of-russian-crypto-ban","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/will-russia-ban-bitcoin-likely-not-heres-why\/","post_modified":"2022-02-12 17:07:44","post_modified_gmt":"2022-02-12 06:07:44","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3453","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3439,"post_author":"1","post_date":"2022-02-10 21:26:57","post_date_gmt":"2022-02-10 10:26:57","post_content":"\n

Russians own over $214 Billion worth, or 12% of the total value<\/a> of cryptocurrencies worldwide, according to a Bloomberg report<\/a>. <\/p>\n\n\n\n

The data coming from the Kremlin and government officials out of Moscow was articulated from analyzing the IP addresses of the most prominent exchange users out of the country along with various other data points, as stated by two officials from Kremlin.<\/p>\n\n\n\n

The data comes after the Russian government had decided to regulate<\/a> rather than ban cryptocurrencies. The analysis will help articulate an overview of the market to assist in their regulations and should be taken with a grain of salt because of the anonymous nature of cryptocurrencies in general.<\/p>\n\n\n\n

\u201cRussians really do have a lot of money in cryptocurrency, but it\u2019s hard to value the true amount...many people are using cash, derivative instruments, or have two passports and can open a crypto wallet in someone else\u2019s name.\u201d<\/em><\/strong><\/p>Alexander Filatov, Co-Founder and CEO of TON Labs<\/a><\/cite><\/blockquote>\n\n\n\n

The statistics offer a snapshot of how widespread cryptocurrency investing has become in Russia being the\u00a0third-biggest<\/a>\u00a0Bitcoin miner in the world, as officials at the central bank push for a blanket ban on the local industry, while the government pursues a softer approach.((https:\/\/www.bloomberg.com\/news\/articles\/2022-02-01\/russia-values-local-crypto-market-at-200-billion-as-rules-near))\u00a0<\/p>\n","post_title":"Russians Own 12% Of The Worlds Cryptocurrencies","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"russians-own-12-of-the-worlds-cryptocurrencies","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/will-russia-ban-bitcoin-likely-not-heres-why\/","post_modified":"2023-04-30 21:39:59","post_modified_gmt":"2023-04-30 11:39:59","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3439","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3341,"post_author":"1","post_date":"2022-01-31 22:09:02","post_date_gmt":"2022-01-31 11:09:02","post_content":"\n

The Russian Government has started the development of a guide that will present limitations on cryptocurrencies.<\/p>\n\n\n\n

The roadmap presented by the Russian Government and approved by Deputy Chairman Dmitry Chernyshenko will work to ease the adoption of cryptocurrencies while halting financial instability. <\/p>\n\n\n\n

It will seek to provide a regulatory framework within the cryptocurrency markets having with an emphasis on violations and dangers within the industry.<\/p>\n\n\n\n

The roadmap goes against the recently proposed blanket ban on cryptocurrencies - as per the Russian Central Bank. Suggesting that crypto-related activities such as payments, exchange, and mining be banned, as it risks financial stability for the citizens of the nation.<\/p>\n\n\n\n

What Do Russia's Regulations Entail?<\/h2>\n\n\n\n

The National Bank, through this guide, advocates having an administrative and prohibitive system for cryptocurrencies. This change of position comes after Putin demanded showing up at an agreement in regards to this.<\/p>\n\n\n\n

Putin has recognized that, although cryptocurrencies convey a specific measure of hazard coming from its volatility, digital currency mining guarantees a ton of upper hand to the country.<\/p>\n\n\n\n

Since Russia enjoys the benefit of having the option to give cheap power, it will remain the third-biggest country for crypto mining.<\/p>\n\n\n\n

\"Regulation will only provide the transparency that will ensure the protection of citizens.\"<\/strong><\/em><\/p>Ivan Chebeskov, Head Of The Financial Policy Department<\/cite><\/blockquote>\n\n\n\n

<\/p>\n","post_title":"Will Russia Ban Bitcoin? Likely Not; Here's Why...","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"will-russia-ban-bitcoin-likely-not-heres-why","to_ping":"","pinged":"","post_modified":"2023-04-11 12:56:24","post_modified_gmt":"2023-04-11 02:56:24","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3341","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"};

1 2

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\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":3608,"post_author":"1","post_date":"2022-02-26 13:08:41","post_date_gmt":"2022-02-26 02:08:41","post_content":"\n

Kuna<\/a>, a Ukrainian-based crypto exchange has seen a huge spike in transaction volume after the news of Russia's<\/a> invasion. <\/p>\n\n\n\n

Data<\/a> from CoinGecko<\/a> shows prior to the invasion trading volumes on Thursday were around $1.5M, nearing $5M on Friday. Although trading volume has since dropped to around $2M.<\/p>\n\n\n\n

\"\"
Source: CoinGecko<\/figcaption><\/figure>\n\n\n\n

Despite global markets taking a huge hit<\/a> after the news, Ukrainians were quick to react to the news in case of an economic crisis.<\/p>\n","post_title":"Kuna, A Ukrainian Crypto Exchange Has Tripled In Volume","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"kuna-a-ukrainian-crypto-exchange-has-tripled-in-volume","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/crypto-markets-collapse-in-reaction-to-russias-war-on-ukraine\/","post_modified":"2022-02-26 22:20:07","post_modified_gmt":"2022-02-26 11:20:07","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3608","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3591,"post_author":"1","post_date":"2022-02-26 00:05:26","post_date_gmt":"2022-02-25 13:05:26","post_content":"\n

Amidst the war between Russia<\/a> and Ukraine, thousands have shown their support through Bitcoin donations to the military.<\/p>\n\n\n\n

Come Back Alive<\/a> is a Kyiv-based non-profit. Funds were donated to their Bitcoin wallet<\/a> will finance military equipment like medical kits and armor for the Ukrainian soldiers.<\/p>\n\n\n\n

Fortune reported<\/a> that $400,000 was donated after news of Russia's invasion, according to data <\/a>from blockchain and crypto analytics firm, Elliptic. Hitting over $4,000,000 today, with several contributions of over $1,000 according to Come Back Alive's director, Taras Chmut. <\/p>\n\n\n\n

\"\"<\/figure>\n\n\n\n

After originally accepting FIAT on Go Fund Me, the page has been inaccessible since Thursday. It was against Go Fund Me policies, but they stated in a blog post<\/a> that they're using their services to support military funding. Every donation sent to the original page will be sent back.<\/p>\n\n\n\n

Cryptocurrency prices have dropped<\/a> dramatically due to fears over the war, despite this support in cryptocurrencies have become one of the main ways to support various causes.<\/p>\n","post_title":"$4M+ In Bitcoin Donated To Support Ukrainian Military","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"4m-in-bitcoin-donated-to-support-ukrainian-military","to_ping":"","pinged":"","post_modified":"2023-04-30 21:39:12","post_modified_gmt":"2023-04-30 11:39:12","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3591","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3581,"post_author":"1","post_date":"2022-02-24 19:01:39","post_date_gmt":"2022-02-24 08:01:39","post_content":"\n

After Russian President, Vladamir Putin announced<\/a> a \"special military operation\" in Ukraine global markets have tanked.<\/p>\n\n\n\n

The Russian army had launched several missiles aimed at Ukraine, targeting several cities including the capital, Kyiv.<\/p>\n\n\n\n

The Bitcoin (BTC<\/a>) price has dropped 7.26% and Ethereum (ETH<\/a>) dropped 9.48% today according to CoinMarketCap<\/a>. The overall crypto market cap has dropped 8.25% to $1.58 trillion.<\/p>\n\n\n\n

\"\"
Source: CoinMarketCap<\/figcaption><\/figure>\n\n\n\n

The Communities Reactions<\/h2>\n\n\n\n

Ethereum founder Vitalik Buterin, born and raised in Russia,\u00a0tweeted<\/a> in Russian that roughly translates to <\/p>\n\n\n\n

\u201cVery upset by Putin's decision to abandon the possibility of a peaceful solution to the dispute with Ukraine and go to war instead. This is a crime against the Ukrainian and Russian people. I want to wish everyone security, although I know that there will be no security. Glory to Ukraine.\"<\/p>\n\n\n\n

\u00a0He\u00a0added<\/a>\u00a0later in English: \u201cReminder: Ethereum is neutral, but I am not.\u201d<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/VitalikButerin\/status\/1496695424387801090?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1496695424387801090%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fcointelegraph.com%2Fnews%2Fbitcoin-plunges-as-putin-announces-special-military-operation-in-ukraine\n<\/div><\/figure>\n\n\n\n

Altcoin Sherpa,\u00a0an advisor to Atlas DEX tweeted<\/a>\u00a0that \"in these situations and it's not all about the market.\"<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/AltcoinSherpa\/status\/1496685587822256130?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1496685587822256130%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fcointelegraph.com%2Fnews%2Fbitcoin-plunges-as-putin-announces-special-military-operation-in-ukraine\n<\/div><\/figure>\n","post_title":"Crypto Markets Collapse In Reaction To Russias War On Ukraine","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"crypto-markets-collapse-in-reaction-to-russias-war-on-ukraine","to_ping":"","pinged":"","post_modified":"2022-02-24 19:05:05","post_modified_gmt":"2022-02-24 08:05:05","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3581","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3453,"post_author":"1","post_date":"2022-02-12 17:06:40","post_date_gmt":"2022-02-12 06:06:40","post_content":"\n

Gy\u00f6rgy Matolcsy, the governor of the Central Bank of Hungary is supporting the proposed crypto ban by the Russian Central Bank, expressing his agreement with the proposal to ban trading and mining of cryptocurrencies.<\/p>\n\n\n\n

This comes after the recent news<\/a> that the Russian central bank was in support of banning the trading and mining of cryptocurrencies. Matolcsy stated<\/a> that \"it is clear-cut that cryptocurrencies could service illegal activities and tend to build up financial pyramids.\" <\/p>\n\n\n\n

He also added that the \"growth and market value of cryptocurrencies is defined primarily by speculative demand for future growth, which creates bubbles.\u201d Calling for unity within the EU, Matolcsy wants the EU to \"act together\" in order to preempt the building up of \"new financial pyramids and financial bubbles.\"<\/p>\n\n\n\n

It seems that he is in support of banning it from the EU, but not worldwide. \"EU citizens and companies would be allowed to own cryptocurrencies abroad and regulators will track their holdings.\" <\/p>\n\n\n\n

As Matolscy stated above, the growth and market value of cryptocurrencies is defined by speculative demand for future growth, is the support for the ban just a way to see if other countries can manage and regulate cryptocurrencies before he makes a decision on what to do, or is it another technology that isn't fully understood?<\/p>\n","post_title":"Hungarian Central Bank In Support Of Russian Crypto Ban","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"hungarian-central-bank-in-support-of-russian-crypto-ban","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/will-russia-ban-bitcoin-likely-not-heres-why\/","post_modified":"2022-02-12 17:07:44","post_modified_gmt":"2022-02-12 06:07:44","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3453","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3439,"post_author":"1","post_date":"2022-02-10 21:26:57","post_date_gmt":"2022-02-10 10:26:57","post_content":"\n

Russians own over $214 Billion worth, or 12% of the total value<\/a> of cryptocurrencies worldwide, according to a Bloomberg report<\/a>. <\/p>\n\n\n\n

The data coming from the Kremlin and government officials out of Moscow was articulated from analyzing the IP addresses of the most prominent exchange users out of the country along with various other data points, as stated by two officials from Kremlin.<\/p>\n\n\n\n

The data comes after the Russian government had decided to regulate<\/a> rather than ban cryptocurrencies. The analysis will help articulate an overview of the market to assist in their regulations and should be taken with a grain of salt because of the anonymous nature of cryptocurrencies in general.<\/p>\n\n\n\n

\u201cRussians really do have a lot of money in cryptocurrency, but it\u2019s hard to value the true amount...many people are using cash, derivative instruments, or have two passports and can open a crypto wallet in someone else\u2019s name.\u201d<\/em><\/strong><\/p>Alexander Filatov, Co-Founder and CEO of TON Labs<\/a><\/cite><\/blockquote>\n\n\n\n

The statistics offer a snapshot of how widespread cryptocurrency investing has become in Russia being the\u00a0third-biggest<\/a>\u00a0Bitcoin miner in the world, as officials at the central bank push for a blanket ban on the local industry, while the government pursues a softer approach.((https:\/\/www.bloomberg.com\/news\/articles\/2022-02-01\/russia-values-local-crypto-market-at-200-billion-as-rules-near))\u00a0<\/p>\n","post_title":"Russians Own 12% Of The Worlds Cryptocurrencies","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"russians-own-12-of-the-worlds-cryptocurrencies","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/will-russia-ban-bitcoin-likely-not-heres-why\/","post_modified":"2023-04-30 21:39:59","post_modified_gmt":"2023-04-30 11:39:59","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3439","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3341,"post_author":"1","post_date":"2022-01-31 22:09:02","post_date_gmt":"2022-01-31 11:09:02","post_content":"\n

The Russian Government has started the development of a guide that will present limitations on cryptocurrencies.<\/p>\n\n\n\n

The roadmap presented by the Russian Government and approved by Deputy Chairman Dmitry Chernyshenko will work to ease the adoption of cryptocurrencies while halting financial instability. <\/p>\n\n\n\n

It will seek to provide a regulatory framework within the cryptocurrency markets having with an emphasis on violations and dangers within the industry.<\/p>\n\n\n\n

The roadmap goes against the recently proposed blanket ban on cryptocurrencies - as per the Russian Central Bank. Suggesting that crypto-related activities such as payments, exchange, and mining be banned, as it risks financial stability for the citizens of the nation.<\/p>\n\n\n\n

What Do Russia's Regulations Entail?<\/h2>\n\n\n\n

The National Bank, through this guide, advocates having an administrative and prohibitive system for cryptocurrencies. This change of position comes after Putin demanded showing up at an agreement in regards to this.<\/p>\n\n\n\n

Putin has recognized that, although cryptocurrencies convey a specific measure of hazard coming from its volatility, digital currency mining guarantees a ton of upper hand to the country.<\/p>\n\n\n\n

Since Russia enjoys the benefit of having the option to give cheap power, it will remain the third-biggest country for crypto mining.<\/p>\n\n\n\n

\"Regulation will only provide the transparency that will ensure the protection of citizens.\"<\/strong><\/em><\/p>Ivan Chebeskov, Head Of The Financial Policy Department<\/cite><\/blockquote>\n\n\n\n

<\/p>\n","post_title":"Will Russia Ban Bitcoin? Likely Not; Here's Why...","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"will-russia-ban-bitcoin-likely-not-heres-why","to_ping":"","pinged":"","post_modified":"2023-04-11 12:56:24","post_modified_gmt":"2023-04-11 02:56:24","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3341","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"};

1 2

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\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":3608,"post_author":"1","post_date":"2022-02-26 13:08:41","post_date_gmt":"2022-02-26 02:08:41","post_content":"\n

Kuna<\/a>, a Ukrainian-based crypto exchange has seen a huge spike in transaction volume after the news of Russia's<\/a> invasion. <\/p>\n\n\n\n

Data<\/a> from CoinGecko<\/a> shows prior to the invasion trading volumes on Thursday were around $1.5M, nearing $5M on Friday. Although trading volume has since dropped to around $2M.<\/p>\n\n\n\n

\"\"
Source: CoinGecko<\/figcaption><\/figure>\n\n\n\n

Despite global markets taking a huge hit<\/a> after the news, Ukrainians were quick to react to the news in case of an economic crisis.<\/p>\n","post_title":"Kuna, A Ukrainian Crypto Exchange Has Tripled In Volume","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"kuna-a-ukrainian-crypto-exchange-has-tripled-in-volume","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/crypto-markets-collapse-in-reaction-to-russias-war-on-ukraine\/","post_modified":"2022-02-26 22:20:07","post_modified_gmt":"2022-02-26 11:20:07","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3608","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3591,"post_author":"1","post_date":"2022-02-26 00:05:26","post_date_gmt":"2022-02-25 13:05:26","post_content":"\n

Amidst the war between Russia<\/a> and Ukraine, thousands have shown their support through Bitcoin donations to the military.<\/p>\n\n\n\n

Come Back Alive<\/a> is a Kyiv-based non-profit. Funds were donated to their Bitcoin wallet<\/a> will finance military equipment like medical kits and armor for the Ukrainian soldiers.<\/p>\n\n\n\n

Fortune reported<\/a> that $400,000 was donated after news of Russia's invasion, according to data <\/a>from blockchain and crypto analytics firm, Elliptic. Hitting over $4,000,000 today, with several contributions of over $1,000 according to Come Back Alive's director, Taras Chmut. <\/p>\n\n\n\n

\"\"<\/figure>\n\n\n\n

After originally accepting FIAT on Go Fund Me, the page has been inaccessible since Thursday. It was against Go Fund Me policies, but they stated in a blog post<\/a> that they're using their services to support military funding. Every donation sent to the original page will be sent back.<\/p>\n\n\n\n

Cryptocurrency prices have dropped<\/a> dramatically due to fears over the war, despite this support in cryptocurrencies have become one of the main ways to support various causes.<\/p>\n","post_title":"$4M+ In Bitcoin Donated To Support Ukrainian Military","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"4m-in-bitcoin-donated-to-support-ukrainian-military","to_ping":"","pinged":"","post_modified":"2023-04-30 21:39:12","post_modified_gmt":"2023-04-30 11:39:12","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3591","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3581,"post_author":"1","post_date":"2022-02-24 19:01:39","post_date_gmt":"2022-02-24 08:01:39","post_content":"\n

After Russian President, Vladamir Putin announced<\/a> a \"special military operation\" in Ukraine global markets have tanked.<\/p>\n\n\n\n

The Russian army had launched several missiles aimed at Ukraine, targeting several cities including the capital, Kyiv.<\/p>\n\n\n\n

The Bitcoin (BTC<\/a>) price has dropped 7.26% and Ethereum (ETH<\/a>) dropped 9.48% today according to CoinMarketCap<\/a>. The overall crypto market cap has dropped 8.25% to $1.58 trillion.<\/p>\n\n\n\n

\"\"
Source: CoinMarketCap<\/figcaption><\/figure>\n\n\n\n

The Communities Reactions<\/h2>\n\n\n\n

Ethereum founder Vitalik Buterin, born and raised in Russia,\u00a0tweeted<\/a> in Russian that roughly translates to <\/p>\n\n\n\n

\u201cVery upset by Putin's decision to abandon the possibility of a peaceful solution to the dispute with Ukraine and go to war instead. This is a crime against the Ukrainian and Russian people. I want to wish everyone security, although I know that there will be no security. Glory to Ukraine.\"<\/p>\n\n\n\n

\u00a0He\u00a0added<\/a>\u00a0later in English: \u201cReminder: Ethereum is neutral, but I am not.\u201d<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/VitalikButerin\/status\/1496695424387801090?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1496695424387801090%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fcointelegraph.com%2Fnews%2Fbitcoin-plunges-as-putin-announces-special-military-operation-in-ukraine\n<\/div><\/figure>\n\n\n\n

Altcoin Sherpa,\u00a0an advisor to Atlas DEX tweeted<\/a>\u00a0that \"in these situations and it's not all about the market.\"<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/AltcoinSherpa\/status\/1496685587822256130?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1496685587822256130%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fcointelegraph.com%2Fnews%2Fbitcoin-plunges-as-putin-announces-special-military-operation-in-ukraine\n<\/div><\/figure>\n","post_title":"Crypto Markets Collapse In Reaction To Russias War On Ukraine","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"crypto-markets-collapse-in-reaction-to-russias-war-on-ukraine","to_ping":"","pinged":"","post_modified":"2022-02-24 19:05:05","post_modified_gmt":"2022-02-24 08:05:05","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3581","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3453,"post_author":"1","post_date":"2022-02-12 17:06:40","post_date_gmt":"2022-02-12 06:06:40","post_content":"\n

Gy\u00f6rgy Matolcsy, the governor of the Central Bank of Hungary is supporting the proposed crypto ban by the Russian Central Bank, expressing his agreement with the proposal to ban trading and mining of cryptocurrencies.<\/p>\n\n\n\n

This comes after the recent news<\/a> that the Russian central bank was in support of banning the trading and mining of cryptocurrencies. Matolcsy stated<\/a> that \"it is clear-cut that cryptocurrencies could service illegal activities and tend to build up financial pyramids.\" <\/p>\n\n\n\n

He also added that the \"growth and market value of cryptocurrencies is defined primarily by speculative demand for future growth, which creates bubbles.\u201d Calling for unity within the EU, Matolcsy wants the EU to \"act together\" in order to preempt the building up of \"new financial pyramids and financial bubbles.\"<\/p>\n\n\n\n

It seems that he is in support of banning it from the EU, but not worldwide. \"EU citizens and companies would be allowed to own cryptocurrencies abroad and regulators will track their holdings.\" <\/p>\n\n\n\n

As Matolscy stated above, the growth and market value of cryptocurrencies is defined by speculative demand for future growth, is the support for the ban just a way to see if other countries can manage and regulate cryptocurrencies before he makes a decision on what to do, or is it another technology that isn't fully understood?<\/p>\n","post_title":"Hungarian Central Bank In Support Of Russian Crypto Ban","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"hungarian-central-bank-in-support-of-russian-crypto-ban","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/will-russia-ban-bitcoin-likely-not-heres-why\/","post_modified":"2022-02-12 17:07:44","post_modified_gmt":"2022-02-12 06:07:44","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3453","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3439,"post_author":"1","post_date":"2022-02-10 21:26:57","post_date_gmt":"2022-02-10 10:26:57","post_content":"\n

Russians own over $214 Billion worth, or 12% of the total value<\/a> of cryptocurrencies worldwide, according to a Bloomberg report<\/a>. <\/p>\n\n\n\n

The data coming from the Kremlin and government officials out of Moscow was articulated from analyzing the IP addresses of the most prominent exchange users out of the country along with various other data points, as stated by two officials from Kremlin.<\/p>\n\n\n\n

The data comes after the Russian government had decided to regulate<\/a> rather than ban cryptocurrencies. The analysis will help articulate an overview of the market to assist in their regulations and should be taken with a grain of salt because of the anonymous nature of cryptocurrencies in general.<\/p>\n\n\n\n

\u201cRussians really do have a lot of money in cryptocurrency, but it\u2019s hard to value the true amount...many people are using cash, derivative instruments, or have two passports and can open a crypto wallet in someone else\u2019s name.\u201d<\/em><\/strong><\/p>Alexander Filatov, Co-Founder and CEO of TON Labs<\/a><\/cite><\/blockquote>\n\n\n\n

The statistics offer a snapshot of how widespread cryptocurrency investing has become in Russia being the\u00a0third-biggest<\/a>\u00a0Bitcoin miner in the world, as officials at the central bank push for a blanket ban on the local industry, while the government pursues a softer approach.((https:\/\/www.bloomberg.com\/news\/articles\/2022-02-01\/russia-values-local-crypto-market-at-200-billion-as-rules-near))\u00a0<\/p>\n","post_title":"Russians Own 12% Of The Worlds Cryptocurrencies","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"russians-own-12-of-the-worlds-cryptocurrencies","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/will-russia-ban-bitcoin-likely-not-heres-why\/","post_modified":"2023-04-30 21:39:59","post_modified_gmt":"2023-04-30 11:39:59","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3439","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3341,"post_author":"1","post_date":"2022-01-31 22:09:02","post_date_gmt":"2022-01-31 11:09:02","post_content":"\n

The Russian Government has started the development of a guide that will present limitations on cryptocurrencies.<\/p>\n\n\n\n

The roadmap presented by the Russian Government and approved by Deputy Chairman Dmitry Chernyshenko will work to ease the adoption of cryptocurrencies while halting financial instability. <\/p>\n\n\n\n

It will seek to provide a regulatory framework within the cryptocurrency markets having with an emphasis on violations and dangers within the industry.<\/p>\n\n\n\n

The roadmap goes against the recently proposed blanket ban on cryptocurrencies - as per the Russian Central Bank. Suggesting that crypto-related activities such as payments, exchange, and mining be banned, as it risks financial stability for the citizens of the nation.<\/p>\n\n\n\n

What Do Russia's Regulations Entail?<\/h2>\n\n\n\n

The National Bank, through this guide, advocates having an administrative and prohibitive system for cryptocurrencies. This change of position comes after Putin demanded showing up at an agreement in regards to this.<\/p>\n\n\n\n

Putin has recognized that, although cryptocurrencies convey a specific measure of hazard coming from its volatility, digital currency mining guarantees a ton of upper hand to the country.<\/p>\n\n\n\n

Since Russia enjoys the benefit of having the option to give cheap power, it will remain the third-biggest country for crypto mining.<\/p>\n\n\n\n

\"Regulation will only provide the transparency that will ensure the protection of citizens.\"<\/strong><\/em><\/p>Ivan Chebeskov, Head Of The Financial Policy Department<\/cite><\/blockquote>\n\n\n\n

<\/p>\n","post_title":"Will Russia Ban Bitcoin? Likely Not; Here's Why...","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"will-russia-ban-bitcoin-likely-not-heres-why","to_ping":"","pinged":"","post_modified":"2023-04-11 12:56:24","post_modified_gmt":"2023-04-11 02:56:24","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3341","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"};

1 2

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\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":3608,"post_author":"1","post_date":"2022-02-26 13:08:41","post_date_gmt":"2022-02-26 02:08:41","post_content":"\n

Kuna<\/a>, a Ukrainian-based crypto exchange has seen a huge spike in transaction volume after the news of Russia's<\/a> invasion. <\/p>\n\n\n\n

Data<\/a> from CoinGecko<\/a> shows prior to the invasion trading volumes on Thursday were around $1.5M, nearing $5M on Friday. Although trading volume has since dropped to around $2M.<\/p>\n\n\n\n

\"\"
Source: CoinGecko<\/figcaption><\/figure>\n\n\n\n

Despite global markets taking a huge hit<\/a> after the news, Ukrainians were quick to react to the news in case of an economic crisis.<\/p>\n","post_title":"Kuna, A Ukrainian Crypto Exchange Has Tripled In Volume","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"kuna-a-ukrainian-crypto-exchange-has-tripled-in-volume","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/crypto-markets-collapse-in-reaction-to-russias-war-on-ukraine\/","post_modified":"2022-02-26 22:20:07","post_modified_gmt":"2022-02-26 11:20:07","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3608","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3591,"post_author":"1","post_date":"2022-02-26 00:05:26","post_date_gmt":"2022-02-25 13:05:26","post_content":"\n

Amidst the war between Russia<\/a> and Ukraine, thousands have shown their support through Bitcoin donations to the military.<\/p>\n\n\n\n

Come Back Alive<\/a> is a Kyiv-based non-profit. Funds were donated to their Bitcoin wallet<\/a> will finance military equipment like medical kits and armor for the Ukrainian soldiers.<\/p>\n\n\n\n

Fortune reported<\/a> that $400,000 was donated after news of Russia's invasion, according to data <\/a>from blockchain and crypto analytics firm, Elliptic. Hitting over $4,000,000 today, with several contributions of over $1,000 according to Come Back Alive's director, Taras Chmut. <\/p>\n\n\n\n

\"\"<\/figure>\n\n\n\n

After originally accepting FIAT on Go Fund Me, the page has been inaccessible since Thursday. It was against Go Fund Me policies, but they stated in a blog post<\/a> that they're using their services to support military funding. Every donation sent to the original page will be sent back.<\/p>\n\n\n\n

Cryptocurrency prices have dropped<\/a> dramatically due to fears over the war, despite this support in cryptocurrencies have become one of the main ways to support various causes.<\/p>\n","post_title":"$4M+ In Bitcoin Donated To Support Ukrainian Military","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"4m-in-bitcoin-donated-to-support-ukrainian-military","to_ping":"","pinged":"","post_modified":"2023-04-30 21:39:12","post_modified_gmt":"2023-04-30 11:39:12","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3591","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3581,"post_author":"1","post_date":"2022-02-24 19:01:39","post_date_gmt":"2022-02-24 08:01:39","post_content":"\n

After Russian President, Vladamir Putin announced<\/a> a \"special military operation\" in Ukraine global markets have tanked.<\/p>\n\n\n\n

The Russian army had launched several missiles aimed at Ukraine, targeting several cities including the capital, Kyiv.<\/p>\n\n\n\n

The Bitcoin (BTC<\/a>) price has dropped 7.26% and Ethereum (ETH<\/a>) dropped 9.48% today according to CoinMarketCap<\/a>. The overall crypto market cap has dropped 8.25% to $1.58 trillion.<\/p>\n\n\n\n

\"\"
Source: CoinMarketCap<\/figcaption><\/figure>\n\n\n\n

The Communities Reactions<\/h2>\n\n\n\n

Ethereum founder Vitalik Buterin, born and raised in Russia,\u00a0tweeted<\/a> in Russian that roughly translates to <\/p>\n\n\n\n

\u201cVery upset by Putin's decision to abandon the possibility of a peaceful solution to the dispute with Ukraine and go to war instead. This is a crime against the Ukrainian and Russian people. I want to wish everyone security, although I know that there will be no security. Glory to Ukraine.\"<\/p>\n\n\n\n

\u00a0He\u00a0added<\/a>\u00a0later in English: \u201cReminder: Ethereum is neutral, but I am not.\u201d<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/VitalikButerin\/status\/1496695424387801090?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1496695424387801090%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fcointelegraph.com%2Fnews%2Fbitcoin-plunges-as-putin-announces-special-military-operation-in-ukraine\n<\/div><\/figure>\n\n\n\n

Altcoin Sherpa,\u00a0an advisor to Atlas DEX tweeted<\/a>\u00a0that \"in these situations and it's not all about the market.\"<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/AltcoinSherpa\/status\/1496685587822256130?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1496685587822256130%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fcointelegraph.com%2Fnews%2Fbitcoin-plunges-as-putin-announces-special-military-operation-in-ukraine\n<\/div><\/figure>\n","post_title":"Crypto Markets Collapse In Reaction To Russias War On Ukraine","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"crypto-markets-collapse-in-reaction-to-russias-war-on-ukraine","to_ping":"","pinged":"","post_modified":"2022-02-24 19:05:05","post_modified_gmt":"2022-02-24 08:05:05","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3581","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3453,"post_author":"1","post_date":"2022-02-12 17:06:40","post_date_gmt":"2022-02-12 06:06:40","post_content":"\n

Gy\u00f6rgy Matolcsy, the governor of the Central Bank of Hungary is supporting the proposed crypto ban by the Russian Central Bank, expressing his agreement with the proposal to ban trading and mining of cryptocurrencies.<\/p>\n\n\n\n

This comes after the recent news<\/a> that the Russian central bank was in support of banning the trading and mining of cryptocurrencies. Matolcsy stated<\/a> that \"it is clear-cut that cryptocurrencies could service illegal activities and tend to build up financial pyramids.\" <\/p>\n\n\n\n

He also added that the \"growth and market value of cryptocurrencies is defined primarily by speculative demand for future growth, which creates bubbles.\u201d Calling for unity within the EU, Matolcsy wants the EU to \"act together\" in order to preempt the building up of \"new financial pyramids and financial bubbles.\"<\/p>\n\n\n\n

It seems that he is in support of banning it from the EU, but not worldwide. \"EU citizens and companies would be allowed to own cryptocurrencies abroad and regulators will track their holdings.\" <\/p>\n\n\n\n

As Matolscy stated above, the growth and market value of cryptocurrencies is defined by speculative demand for future growth, is the support for the ban just a way to see if other countries can manage and regulate cryptocurrencies before he makes a decision on what to do, or is it another technology that isn't fully understood?<\/p>\n","post_title":"Hungarian Central Bank In Support Of Russian Crypto Ban","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"hungarian-central-bank-in-support-of-russian-crypto-ban","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/will-russia-ban-bitcoin-likely-not-heres-why\/","post_modified":"2022-02-12 17:07:44","post_modified_gmt":"2022-02-12 06:07:44","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3453","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3439,"post_author":"1","post_date":"2022-02-10 21:26:57","post_date_gmt":"2022-02-10 10:26:57","post_content":"\n

Russians own over $214 Billion worth, or 12% of the total value<\/a> of cryptocurrencies worldwide, according to a Bloomberg report<\/a>. <\/p>\n\n\n\n

The data coming from the Kremlin and government officials out of Moscow was articulated from analyzing the IP addresses of the most prominent exchange users out of the country along with various other data points, as stated by two officials from Kremlin.<\/p>\n\n\n\n

The data comes after the Russian government had decided to regulate<\/a> rather than ban cryptocurrencies. The analysis will help articulate an overview of the market to assist in their regulations and should be taken with a grain of salt because of the anonymous nature of cryptocurrencies in general.<\/p>\n\n\n\n

\u201cRussians really do have a lot of money in cryptocurrency, but it\u2019s hard to value the true amount...many people are using cash, derivative instruments, or have two passports and can open a crypto wallet in someone else\u2019s name.\u201d<\/em><\/strong><\/p>Alexander Filatov, Co-Founder and CEO of TON Labs<\/a><\/cite><\/blockquote>\n\n\n\n

The statistics offer a snapshot of how widespread cryptocurrency investing has become in Russia being the\u00a0third-biggest<\/a>\u00a0Bitcoin miner in the world, as officials at the central bank push for a blanket ban on the local industry, while the government pursues a softer approach.((https:\/\/www.bloomberg.com\/news\/articles\/2022-02-01\/russia-values-local-crypto-market-at-200-billion-as-rules-near))\u00a0<\/p>\n","post_title":"Russians Own 12% Of The Worlds Cryptocurrencies","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"russians-own-12-of-the-worlds-cryptocurrencies","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/will-russia-ban-bitcoin-likely-not-heres-why\/","post_modified":"2023-04-30 21:39:59","post_modified_gmt":"2023-04-30 11:39:59","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3439","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3341,"post_author":"1","post_date":"2022-01-31 22:09:02","post_date_gmt":"2022-01-31 11:09:02","post_content":"\n

The Russian Government has started the development of a guide that will present limitations on cryptocurrencies.<\/p>\n\n\n\n

The roadmap presented by the Russian Government and approved by Deputy Chairman Dmitry Chernyshenko will work to ease the adoption of cryptocurrencies while halting financial instability. <\/p>\n\n\n\n

It will seek to provide a regulatory framework within the cryptocurrency markets having with an emphasis on violations and dangers within the industry.<\/p>\n\n\n\n

The roadmap goes against the recently proposed blanket ban on cryptocurrencies - as per the Russian Central Bank. Suggesting that crypto-related activities such as payments, exchange, and mining be banned, as it risks financial stability for the citizens of the nation.<\/p>\n\n\n\n

What Do Russia's Regulations Entail?<\/h2>\n\n\n\n

The National Bank, through this guide, advocates having an administrative and prohibitive system for cryptocurrencies. This change of position comes after Putin demanded showing up at an agreement in regards to this.<\/p>\n\n\n\n

Putin has recognized that, although cryptocurrencies convey a specific measure of hazard coming from its volatility, digital currency mining guarantees a ton of upper hand to the country.<\/p>\n\n\n\n

Since Russia enjoys the benefit of having the option to give cheap power, it will remain the third-biggest country for crypto mining.<\/p>\n\n\n\n

\"Regulation will only provide the transparency that will ensure the protection of citizens.\"<\/strong><\/em><\/p>Ivan Chebeskov, Head Of The Financial Policy Department<\/cite><\/blockquote>\n\n\n\n

<\/p>\n","post_title":"Will Russia Ban Bitcoin? Likely Not; Here's Why...","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"will-russia-ban-bitcoin-likely-not-heres-why","to_ping":"","pinged":"","post_modified":"2023-04-11 12:56:24","post_modified_gmt":"2023-04-11 02:56:24","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3341","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"};

1 2

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\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":3608,"post_author":"1","post_date":"2022-02-26 13:08:41","post_date_gmt":"2022-02-26 02:08:41","post_content":"\n

Kuna<\/a>, a Ukrainian-based crypto exchange has seen a huge spike in transaction volume after the news of Russia's<\/a> invasion. <\/p>\n\n\n\n

Data<\/a> from CoinGecko<\/a> shows prior to the invasion trading volumes on Thursday were around $1.5M, nearing $5M on Friday. Although trading volume has since dropped to around $2M.<\/p>\n\n\n\n

\"\"
Source: CoinGecko<\/figcaption><\/figure>\n\n\n\n

Despite global markets taking a huge hit<\/a> after the news, Ukrainians were quick to react to the news in case of an economic crisis.<\/p>\n","post_title":"Kuna, A Ukrainian Crypto Exchange Has Tripled In Volume","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"kuna-a-ukrainian-crypto-exchange-has-tripled-in-volume","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/crypto-markets-collapse-in-reaction-to-russias-war-on-ukraine\/","post_modified":"2022-02-26 22:20:07","post_modified_gmt":"2022-02-26 11:20:07","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3608","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3591,"post_author":"1","post_date":"2022-02-26 00:05:26","post_date_gmt":"2022-02-25 13:05:26","post_content":"\n

Amidst the war between Russia<\/a> and Ukraine, thousands have shown their support through Bitcoin donations to the military.<\/p>\n\n\n\n

Come Back Alive<\/a> is a Kyiv-based non-profit. Funds were donated to their Bitcoin wallet<\/a> will finance military equipment like medical kits and armor for the Ukrainian soldiers.<\/p>\n\n\n\n

Fortune reported<\/a> that $400,000 was donated after news of Russia's invasion, according to data <\/a>from blockchain and crypto analytics firm, Elliptic. Hitting over $4,000,000 today, with several contributions of over $1,000 according to Come Back Alive's director, Taras Chmut. <\/p>\n\n\n\n

\"\"<\/figure>\n\n\n\n

After originally accepting FIAT on Go Fund Me, the page has been inaccessible since Thursday. It was against Go Fund Me policies, but they stated in a blog post<\/a> that they're using their services to support military funding. Every donation sent to the original page will be sent back.<\/p>\n\n\n\n

Cryptocurrency prices have dropped<\/a> dramatically due to fears over the war, despite this support in cryptocurrencies have become one of the main ways to support various causes.<\/p>\n","post_title":"$4M+ In Bitcoin Donated To Support Ukrainian Military","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"4m-in-bitcoin-donated-to-support-ukrainian-military","to_ping":"","pinged":"","post_modified":"2023-04-30 21:39:12","post_modified_gmt":"2023-04-30 11:39:12","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3591","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3581,"post_author":"1","post_date":"2022-02-24 19:01:39","post_date_gmt":"2022-02-24 08:01:39","post_content":"\n

After Russian President, Vladamir Putin announced<\/a> a \"special military operation\" in Ukraine global markets have tanked.<\/p>\n\n\n\n

The Russian army had launched several missiles aimed at Ukraine, targeting several cities including the capital, Kyiv.<\/p>\n\n\n\n

The Bitcoin (BTC<\/a>) price has dropped 7.26% and Ethereum (ETH<\/a>) dropped 9.48% today according to CoinMarketCap<\/a>. The overall crypto market cap has dropped 8.25% to $1.58 trillion.<\/p>\n\n\n\n

\"\"
Source: CoinMarketCap<\/figcaption><\/figure>\n\n\n\n

The Communities Reactions<\/h2>\n\n\n\n

Ethereum founder Vitalik Buterin, born and raised in Russia,\u00a0tweeted<\/a> in Russian that roughly translates to <\/p>\n\n\n\n

\u201cVery upset by Putin's decision to abandon the possibility of a peaceful solution to the dispute with Ukraine and go to war instead. This is a crime against the Ukrainian and Russian people. I want to wish everyone security, although I know that there will be no security. Glory to Ukraine.\"<\/p>\n\n\n\n

\u00a0He\u00a0added<\/a>\u00a0later in English: \u201cReminder: Ethereum is neutral, but I am not.\u201d<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/VitalikButerin\/status\/1496695424387801090?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1496695424387801090%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fcointelegraph.com%2Fnews%2Fbitcoin-plunges-as-putin-announces-special-military-operation-in-ukraine\n<\/div><\/figure>\n\n\n\n

Altcoin Sherpa,\u00a0an advisor to Atlas DEX tweeted<\/a>\u00a0that \"in these situations and it's not all about the market.\"<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/AltcoinSherpa\/status\/1496685587822256130?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1496685587822256130%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fcointelegraph.com%2Fnews%2Fbitcoin-plunges-as-putin-announces-special-military-operation-in-ukraine\n<\/div><\/figure>\n","post_title":"Crypto Markets Collapse In Reaction To Russias War On Ukraine","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"crypto-markets-collapse-in-reaction-to-russias-war-on-ukraine","to_ping":"","pinged":"","post_modified":"2022-02-24 19:05:05","post_modified_gmt":"2022-02-24 08:05:05","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3581","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3453,"post_author":"1","post_date":"2022-02-12 17:06:40","post_date_gmt":"2022-02-12 06:06:40","post_content":"\n

Gy\u00f6rgy Matolcsy, the governor of the Central Bank of Hungary is supporting the proposed crypto ban by the Russian Central Bank, expressing his agreement with the proposal to ban trading and mining of cryptocurrencies.<\/p>\n\n\n\n

This comes after the recent news<\/a> that the Russian central bank was in support of banning the trading and mining of cryptocurrencies. Matolcsy stated<\/a> that \"it is clear-cut that cryptocurrencies could service illegal activities and tend to build up financial pyramids.\" <\/p>\n\n\n\n

He also added that the \"growth and market value of cryptocurrencies is defined primarily by speculative demand for future growth, which creates bubbles.\u201d Calling for unity within the EU, Matolcsy wants the EU to \"act together\" in order to preempt the building up of \"new financial pyramids and financial bubbles.\"<\/p>\n\n\n\n

It seems that he is in support of banning it from the EU, but not worldwide. \"EU citizens and companies would be allowed to own cryptocurrencies abroad and regulators will track their holdings.\" <\/p>\n\n\n\n

As Matolscy stated above, the growth and market value of cryptocurrencies is defined by speculative demand for future growth, is the support for the ban just a way to see if other countries can manage and regulate cryptocurrencies before he makes a decision on what to do, or is it another technology that isn't fully understood?<\/p>\n","post_title":"Hungarian Central Bank In Support Of Russian Crypto Ban","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"hungarian-central-bank-in-support-of-russian-crypto-ban","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/will-russia-ban-bitcoin-likely-not-heres-why\/","post_modified":"2022-02-12 17:07:44","post_modified_gmt":"2022-02-12 06:07:44","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3453","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3439,"post_author":"1","post_date":"2022-02-10 21:26:57","post_date_gmt":"2022-02-10 10:26:57","post_content":"\n

Russians own over $214 Billion worth, or 12% of the total value<\/a> of cryptocurrencies worldwide, according to a Bloomberg report<\/a>. <\/p>\n\n\n\n

The data coming from the Kremlin and government officials out of Moscow was articulated from analyzing the IP addresses of the most prominent exchange users out of the country along with various other data points, as stated by two officials from Kremlin.<\/p>\n\n\n\n

The data comes after the Russian government had decided to regulate<\/a> rather than ban cryptocurrencies. The analysis will help articulate an overview of the market to assist in their regulations and should be taken with a grain of salt because of the anonymous nature of cryptocurrencies in general.<\/p>\n\n\n\n

\u201cRussians really do have a lot of money in cryptocurrency, but it\u2019s hard to value the true amount...many people are using cash, derivative instruments, or have two passports and can open a crypto wallet in someone else\u2019s name.\u201d<\/em><\/strong><\/p>Alexander Filatov, Co-Founder and CEO of TON Labs<\/a><\/cite><\/blockquote>\n\n\n\n

The statistics offer a snapshot of how widespread cryptocurrency investing has become in Russia being the\u00a0third-biggest<\/a>\u00a0Bitcoin miner in the world, as officials at the central bank push for a blanket ban on the local industry, while the government pursues a softer approach.((https:\/\/www.bloomberg.com\/news\/articles\/2022-02-01\/russia-values-local-crypto-market-at-200-billion-as-rules-near))\u00a0<\/p>\n","post_title":"Russians Own 12% Of The Worlds Cryptocurrencies","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"russians-own-12-of-the-worlds-cryptocurrencies","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/will-russia-ban-bitcoin-likely-not-heres-why\/","post_modified":"2023-04-30 21:39:59","post_modified_gmt":"2023-04-30 11:39:59","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3439","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3341,"post_author":"1","post_date":"2022-01-31 22:09:02","post_date_gmt":"2022-01-31 11:09:02","post_content":"\n

The Russian Government has started the development of a guide that will present limitations on cryptocurrencies.<\/p>\n\n\n\n

The roadmap presented by the Russian Government and approved by Deputy Chairman Dmitry Chernyshenko will work to ease the adoption of cryptocurrencies while halting financial instability. <\/p>\n\n\n\n

It will seek to provide a regulatory framework within the cryptocurrency markets having with an emphasis on violations and dangers within the industry.<\/p>\n\n\n\n

The roadmap goes against the recently proposed blanket ban on cryptocurrencies - as per the Russian Central Bank. Suggesting that crypto-related activities such as payments, exchange, and mining be banned, as it risks financial stability for the citizens of the nation.<\/p>\n\n\n\n

What Do Russia's Regulations Entail?<\/h2>\n\n\n\n

The National Bank, through this guide, advocates having an administrative and prohibitive system for cryptocurrencies. This change of position comes after Putin demanded showing up at an agreement in regards to this.<\/p>\n\n\n\n

Putin has recognized that, although cryptocurrencies convey a specific measure of hazard coming from its volatility, digital currency mining guarantees a ton of upper hand to the country.<\/p>\n\n\n\n

Since Russia enjoys the benefit of having the option to give cheap power, it will remain the third-biggest country for crypto mining.<\/p>\n\n\n\n

\"Regulation will only provide the transparency that will ensure the protection of citizens.\"<\/strong><\/em><\/p>Ivan Chebeskov, Head Of The Financial Policy Department<\/cite><\/blockquote>\n\n\n\n

<\/p>\n","post_title":"Will Russia Ban Bitcoin? Likely Not; Here's Why...","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"will-russia-ban-bitcoin-likely-not-heres-why","to_ping":"","pinged":"","post_modified":"2023-04-11 12:56:24","post_modified_gmt":"2023-04-11 02:56:24","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3341","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"};

1 2

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\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":3608,"post_author":"1","post_date":"2022-02-26 13:08:41","post_date_gmt":"2022-02-26 02:08:41","post_content":"\n

Kuna<\/a>, a Ukrainian-based crypto exchange has seen a huge spike in transaction volume after the news of Russia's<\/a> invasion. <\/p>\n\n\n\n

Data<\/a> from CoinGecko<\/a> shows prior to the invasion trading volumes on Thursday were around $1.5M, nearing $5M on Friday. Although trading volume has since dropped to around $2M.<\/p>\n\n\n\n

\"\"
Source: CoinGecko<\/figcaption><\/figure>\n\n\n\n

Despite global markets taking a huge hit<\/a> after the news, Ukrainians were quick to react to the news in case of an economic crisis.<\/p>\n","post_title":"Kuna, A Ukrainian Crypto Exchange Has Tripled In Volume","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"kuna-a-ukrainian-crypto-exchange-has-tripled-in-volume","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/crypto-markets-collapse-in-reaction-to-russias-war-on-ukraine\/","post_modified":"2022-02-26 22:20:07","post_modified_gmt":"2022-02-26 11:20:07","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3608","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3591,"post_author":"1","post_date":"2022-02-26 00:05:26","post_date_gmt":"2022-02-25 13:05:26","post_content":"\n

Amidst the war between Russia<\/a> and Ukraine, thousands have shown their support through Bitcoin donations to the military.<\/p>\n\n\n\n

Come Back Alive<\/a> is a Kyiv-based non-profit. Funds were donated to their Bitcoin wallet<\/a> will finance military equipment like medical kits and armor for the Ukrainian soldiers.<\/p>\n\n\n\n

Fortune reported<\/a> that $400,000 was donated after news of Russia's invasion, according to data <\/a>from blockchain and crypto analytics firm, Elliptic. Hitting over $4,000,000 today, with several contributions of over $1,000 according to Come Back Alive's director, Taras Chmut. <\/p>\n\n\n\n

\"\"<\/figure>\n\n\n\n

After originally accepting FIAT on Go Fund Me, the page has been inaccessible since Thursday. It was against Go Fund Me policies, but they stated in a blog post<\/a> that they're using their services to support military funding. Every donation sent to the original page will be sent back.<\/p>\n\n\n\n

Cryptocurrency prices have dropped<\/a> dramatically due to fears over the war, despite this support in cryptocurrencies have become one of the main ways to support various causes.<\/p>\n","post_title":"$4M+ In Bitcoin Donated To Support Ukrainian Military","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"4m-in-bitcoin-donated-to-support-ukrainian-military","to_ping":"","pinged":"","post_modified":"2023-04-30 21:39:12","post_modified_gmt":"2023-04-30 11:39:12","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3591","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3581,"post_author":"1","post_date":"2022-02-24 19:01:39","post_date_gmt":"2022-02-24 08:01:39","post_content":"\n

After Russian President, Vladamir Putin announced<\/a> a \"special military operation\" in Ukraine global markets have tanked.<\/p>\n\n\n\n

The Russian army had launched several missiles aimed at Ukraine, targeting several cities including the capital, Kyiv.<\/p>\n\n\n\n

The Bitcoin (BTC<\/a>) price has dropped 7.26% and Ethereum (ETH<\/a>) dropped 9.48% today according to CoinMarketCap<\/a>. The overall crypto market cap has dropped 8.25% to $1.58 trillion.<\/p>\n\n\n\n

\"\"
Source: CoinMarketCap<\/figcaption><\/figure>\n\n\n\n

The Communities Reactions<\/h2>\n\n\n\n

Ethereum founder Vitalik Buterin, born and raised in Russia,\u00a0tweeted<\/a> in Russian that roughly translates to <\/p>\n\n\n\n

\u201cVery upset by Putin's decision to abandon the possibility of a peaceful solution to the dispute with Ukraine and go to war instead. This is a crime against the Ukrainian and Russian people. I want to wish everyone security, although I know that there will be no security. Glory to Ukraine.\"<\/p>\n\n\n\n

\u00a0He\u00a0added<\/a>\u00a0later in English: \u201cReminder: Ethereum is neutral, but I am not.\u201d<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/VitalikButerin\/status\/1496695424387801090?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1496695424387801090%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fcointelegraph.com%2Fnews%2Fbitcoin-plunges-as-putin-announces-special-military-operation-in-ukraine\n<\/div><\/figure>\n\n\n\n

Altcoin Sherpa,\u00a0an advisor to Atlas DEX tweeted<\/a>\u00a0that \"in these situations and it's not all about the market.\"<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/AltcoinSherpa\/status\/1496685587822256130?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1496685587822256130%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fcointelegraph.com%2Fnews%2Fbitcoin-plunges-as-putin-announces-special-military-operation-in-ukraine\n<\/div><\/figure>\n","post_title":"Crypto Markets Collapse In Reaction To Russias War On Ukraine","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"crypto-markets-collapse-in-reaction-to-russias-war-on-ukraine","to_ping":"","pinged":"","post_modified":"2022-02-24 19:05:05","post_modified_gmt":"2022-02-24 08:05:05","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3581","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3453,"post_author":"1","post_date":"2022-02-12 17:06:40","post_date_gmt":"2022-02-12 06:06:40","post_content":"\n

Gy\u00f6rgy Matolcsy, the governor of the Central Bank of Hungary is supporting the proposed crypto ban by the Russian Central Bank, expressing his agreement with the proposal to ban trading and mining of cryptocurrencies.<\/p>\n\n\n\n

This comes after the recent news<\/a> that the Russian central bank was in support of banning the trading and mining of cryptocurrencies. Matolcsy stated<\/a> that \"it is clear-cut that cryptocurrencies could service illegal activities and tend to build up financial pyramids.\" <\/p>\n\n\n\n

He also added that the \"growth and market value of cryptocurrencies is defined primarily by speculative demand for future growth, which creates bubbles.\u201d Calling for unity within the EU, Matolcsy wants the EU to \"act together\" in order to preempt the building up of \"new financial pyramids and financial bubbles.\"<\/p>\n\n\n\n

It seems that he is in support of banning it from the EU, but not worldwide. \"EU citizens and companies would be allowed to own cryptocurrencies abroad and regulators will track their holdings.\" <\/p>\n\n\n\n

As Matolscy stated above, the growth and market value of cryptocurrencies is defined by speculative demand for future growth, is the support for the ban just a way to see if other countries can manage and regulate cryptocurrencies before he makes a decision on what to do, or is it another technology that isn't fully understood?<\/p>\n","post_title":"Hungarian Central Bank In Support Of Russian Crypto Ban","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"hungarian-central-bank-in-support-of-russian-crypto-ban","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/will-russia-ban-bitcoin-likely-not-heres-why\/","post_modified":"2022-02-12 17:07:44","post_modified_gmt":"2022-02-12 06:07:44","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3453","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3439,"post_author":"1","post_date":"2022-02-10 21:26:57","post_date_gmt":"2022-02-10 10:26:57","post_content":"\n

Russians own over $214 Billion worth, or 12% of the total value<\/a> of cryptocurrencies worldwide, according to a Bloomberg report<\/a>. <\/p>\n\n\n\n

The data coming from the Kremlin and government officials out of Moscow was articulated from analyzing the IP addresses of the most prominent exchange users out of the country along with various other data points, as stated by two officials from Kremlin.<\/p>\n\n\n\n

The data comes after the Russian government had decided to regulate<\/a> rather than ban cryptocurrencies. The analysis will help articulate an overview of the market to assist in their regulations and should be taken with a grain of salt because of the anonymous nature of cryptocurrencies in general.<\/p>\n\n\n\n

\u201cRussians really do have a lot of money in cryptocurrency, but it\u2019s hard to value the true amount...many people are using cash, derivative instruments, or have two passports and can open a crypto wallet in someone else\u2019s name.\u201d<\/em><\/strong><\/p>Alexander Filatov, Co-Founder and CEO of TON Labs<\/a><\/cite><\/blockquote>\n\n\n\n

The statistics offer a snapshot of how widespread cryptocurrency investing has become in Russia being the\u00a0third-biggest<\/a>\u00a0Bitcoin miner in the world, as officials at the central bank push for a blanket ban on the local industry, while the government pursues a softer approach.((https:\/\/www.bloomberg.com\/news\/articles\/2022-02-01\/russia-values-local-crypto-market-at-200-billion-as-rules-near))\u00a0<\/p>\n","post_title":"Russians Own 12% Of The Worlds Cryptocurrencies","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"russians-own-12-of-the-worlds-cryptocurrencies","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/will-russia-ban-bitcoin-likely-not-heres-why\/","post_modified":"2023-04-30 21:39:59","post_modified_gmt":"2023-04-30 11:39:59","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3439","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3341,"post_author":"1","post_date":"2022-01-31 22:09:02","post_date_gmt":"2022-01-31 11:09:02","post_content":"\n

The Russian Government has started the development of a guide that will present limitations on cryptocurrencies.<\/p>\n\n\n\n

The roadmap presented by the Russian Government and approved by Deputy Chairman Dmitry Chernyshenko will work to ease the adoption of cryptocurrencies while halting financial instability. <\/p>\n\n\n\n

It will seek to provide a regulatory framework within the cryptocurrency markets having with an emphasis on violations and dangers within the industry.<\/p>\n\n\n\n

The roadmap goes against the recently proposed blanket ban on cryptocurrencies - as per the Russian Central Bank. Suggesting that crypto-related activities such as payments, exchange, and mining be banned, as it risks financial stability for the citizens of the nation.<\/p>\n\n\n\n

What Do Russia's Regulations Entail?<\/h2>\n\n\n\n

The National Bank, through this guide, advocates having an administrative and prohibitive system for cryptocurrencies. This change of position comes after Putin demanded showing up at an agreement in regards to this.<\/p>\n\n\n\n

Putin has recognized that, although cryptocurrencies convey a specific measure of hazard coming from its volatility, digital currency mining guarantees a ton of upper hand to the country.<\/p>\n\n\n\n

Since Russia enjoys the benefit of having the option to give cheap power, it will remain the third-biggest country for crypto mining.<\/p>\n\n\n\n

\"Regulation will only provide the transparency that will ensure the protection of citizens.\"<\/strong><\/em><\/p>Ivan Chebeskov, Head Of The Financial Policy Department<\/cite><\/blockquote>\n\n\n\n

<\/p>\n","post_title":"Will Russia Ban Bitcoin? Likely Not; Here's Why...","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"will-russia-ban-bitcoin-likely-not-heres-why","to_ping":"","pinged":"","post_modified":"2023-04-11 12:56:24","post_modified_gmt":"2023-04-11 02:56:24","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3341","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"};

1 2

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\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":3608,"post_author":"1","post_date":"2022-02-26 13:08:41","post_date_gmt":"2022-02-26 02:08:41","post_content":"\n

Kuna<\/a>, a Ukrainian-based crypto exchange has seen a huge spike in transaction volume after the news of Russia's<\/a> invasion. <\/p>\n\n\n\n

Data<\/a> from CoinGecko<\/a> shows prior to the invasion trading volumes on Thursday were around $1.5M, nearing $5M on Friday. Although trading volume has since dropped to around $2M.<\/p>\n\n\n\n

\"\"
Source: CoinGecko<\/figcaption><\/figure>\n\n\n\n

Despite global markets taking a huge hit<\/a> after the news, Ukrainians were quick to react to the news in case of an economic crisis.<\/p>\n","post_title":"Kuna, A Ukrainian Crypto Exchange Has Tripled In Volume","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"kuna-a-ukrainian-crypto-exchange-has-tripled-in-volume","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/crypto-markets-collapse-in-reaction-to-russias-war-on-ukraine\/","post_modified":"2022-02-26 22:20:07","post_modified_gmt":"2022-02-26 11:20:07","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3608","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3591,"post_author":"1","post_date":"2022-02-26 00:05:26","post_date_gmt":"2022-02-25 13:05:26","post_content":"\n

Amidst the war between Russia<\/a> and Ukraine, thousands have shown their support through Bitcoin donations to the military.<\/p>\n\n\n\n

Come Back Alive<\/a> is a Kyiv-based non-profit. Funds were donated to their Bitcoin wallet<\/a> will finance military equipment like medical kits and armor for the Ukrainian soldiers.<\/p>\n\n\n\n

Fortune reported<\/a> that $400,000 was donated after news of Russia's invasion, according to data <\/a>from blockchain and crypto analytics firm, Elliptic. Hitting over $4,000,000 today, with several contributions of over $1,000 according to Come Back Alive's director, Taras Chmut. <\/p>\n\n\n\n

\"\"<\/figure>\n\n\n\n

After originally accepting FIAT on Go Fund Me, the page has been inaccessible since Thursday. It was against Go Fund Me policies, but they stated in a blog post<\/a> that they're using their services to support military funding. Every donation sent to the original page will be sent back.<\/p>\n\n\n\n

Cryptocurrency prices have dropped<\/a> dramatically due to fears over the war, despite this support in cryptocurrencies have become one of the main ways to support various causes.<\/p>\n","post_title":"$4M+ In Bitcoin Donated To Support Ukrainian Military","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"4m-in-bitcoin-donated-to-support-ukrainian-military","to_ping":"","pinged":"","post_modified":"2023-04-30 21:39:12","post_modified_gmt":"2023-04-30 11:39:12","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3591","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3581,"post_author":"1","post_date":"2022-02-24 19:01:39","post_date_gmt":"2022-02-24 08:01:39","post_content":"\n

After Russian President, Vladamir Putin announced<\/a> a \"special military operation\" in Ukraine global markets have tanked.<\/p>\n\n\n\n

The Russian army had launched several missiles aimed at Ukraine, targeting several cities including the capital, Kyiv.<\/p>\n\n\n\n

The Bitcoin (BTC<\/a>) price has dropped 7.26% and Ethereum (ETH<\/a>) dropped 9.48% today according to CoinMarketCap<\/a>. The overall crypto market cap has dropped 8.25% to $1.58 trillion.<\/p>\n\n\n\n

\"\"
Source: CoinMarketCap<\/figcaption><\/figure>\n\n\n\n

The Communities Reactions<\/h2>\n\n\n\n

Ethereum founder Vitalik Buterin, born and raised in Russia,\u00a0tweeted<\/a> in Russian that roughly translates to <\/p>\n\n\n\n

\u201cVery upset by Putin's decision to abandon the possibility of a peaceful solution to the dispute with Ukraine and go to war instead. This is a crime against the Ukrainian and Russian people. I want to wish everyone security, although I know that there will be no security. Glory to Ukraine.\"<\/p>\n\n\n\n

\u00a0He\u00a0added<\/a>\u00a0later in English: \u201cReminder: Ethereum is neutral, but I am not.\u201d<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/VitalikButerin\/status\/1496695424387801090?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1496695424387801090%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fcointelegraph.com%2Fnews%2Fbitcoin-plunges-as-putin-announces-special-military-operation-in-ukraine\n<\/div><\/figure>\n\n\n\n

Altcoin Sherpa,\u00a0an advisor to Atlas DEX tweeted<\/a>\u00a0that \"in these situations and it's not all about the market.\"<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/AltcoinSherpa\/status\/1496685587822256130?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1496685587822256130%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fcointelegraph.com%2Fnews%2Fbitcoin-plunges-as-putin-announces-special-military-operation-in-ukraine\n<\/div><\/figure>\n","post_title":"Crypto Markets Collapse In Reaction To Russias War On Ukraine","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"crypto-markets-collapse-in-reaction-to-russias-war-on-ukraine","to_ping":"","pinged":"","post_modified":"2022-02-24 19:05:05","post_modified_gmt":"2022-02-24 08:05:05","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3581","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3453,"post_author":"1","post_date":"2022-02-12 17:06:40","post_date_gmt":"2022-02-12 06:06:40","post_content":"\n

Gy\u00f6rgy Matolcsy, the governor of the Central Bank of Hungary is supporting the proposed crypto ban by the Russian Central Bank, expressing his agreement with the proposal to ban trading and mining of cryptocurrencies.<\/p>\n\n\n\n

This comes after the recent news<\/a> that the Russian central bank was in support of banning the trading and mining of cryptocurrencies. Matolcsy stated<\/a> that \"it is clear-cut that cryptocurrencies could service illegal activities and tend to build up financial pyramids.\" <\/p>\n\n\n\n

He also added that the \"growth and market value of cryptocurrencies is defined primarily by speculative demand for future growth, which creates bubbles.\u201d Calling for unity within the EU, Matolcsy wants the EU to \"act together\" in order to preempt the building up of \"new financial pyramids and financial bubbles.\"<\/p>\n\n\n\n

It seems that he is in support of banning it from the EU, but not worldwide. \"EU citizens and companies would be allowed to own cryptocurrencies abroad and regulators will track their holdings.\" <\/p>\n\n\n\n

As Matolscy stated above, the growth and market value of cryptocurrencies is defined by speculative demand for future growth, is the support for the ban just a way to see if other countries can manage and regulate cryptocurrencies before he makes a decision on what to do, or is it another technology that isn't fully understood?<\/p>\n","post_title":"Hungarian Central Bank In Support Of Russian Crypto Ban","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"hungarian-central-bank-in-support-of-russian-crypto-ban","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/will-russia-ban-bitcoin-likely-not-heres-why\/","post_modified":"2022-02-12 17:07:44","post_modified_gmt":"2022-02-12 06:07:44","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3453","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3439,"post_author":"1","post_date":"2022-02-10 21:26:57","post_date_gmt":"2022-02-10 10:26:57","post_content":"\n

Russians own over $214 Billion worth, or 12% of the total value<\/a> of cryptocurrencies worldwide, according to a Bloomberg report<\/a>. <\/p>\n\n\n\n

The data coming from the Kremlin and government officials out of Moscow was articulated from analyzing the IP addresses of the most prominent exchange users out of the country along with various other data points, as stated by two officials from Kremlin.<\/p>\n\n\n\n

The data comes after the Russian government had decided to regulate<\/a> rather than ban cryptocurrencies. The analysis will help articulate an overview of the market to assist in their regulations and should be taken with a grain of salt because of the anonymous nature of cryptocurrencies in general.<\/p>\n\n\n\n

\u201cRussians really do have a lot of money in cryptocurrency, but it\u2019s hard to value the true amount...many people are using cash, derivative instruments, or have two passports and can open a crypto wallet in someone else\u2019s name.\u201d<\/em><\/strong><\/p>Alexander Filatov, Co-Founder and CEO of TON Labs<\/a><\/cite><\/blockquote>\n\n\n\n

The statistics offer a snapshot of how widespread cryptocurrency investing has become in Russia being the\u00a0third-biggest<\/a>\u00a0Bitcoin miner in the world, as officials at the central bank push for a blanket ban on the local industry, while the government pursues a softer approach.((https:\/\/www.bloomberg.com\/news\/articles\/2022-02-01\/russia-values-local-crypto-market-at-200-billion-as-rules-near))\u00a0<\/p>\n","post_title":"Russians Own 12% Of The Worlds Cryptocurrencies","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"russians-own-12-of-the-worlds-cryptocurrencies","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/will-russia-ban-bitcoin-likely-not-heres-why\/","post_modified":"2023-04-30 21:39:59","post_modified_gmt":"2023-04-30 11:39:59","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3439","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3341,"post_author":"1","post_date":"2022-01-31 22:09:02","post_date_gmt":"2022-01-31 11:09:02","post_content":"\n

The Russian Government has started the development of a guide that will present limitations on cryptocurrencies.<\/p>\n\n\n\n

The roadmap presented by the Russian Government and approved by Deputy Chairman Dmitry Chernyshenko will work to ease the adoption of cryptocurrencies while halting financial instability. <\/p>\n\n\n\n

It will seek to provide a regulatory framework within the cryptocurrency markets having with an emphasis on violations and dangers within the industry.<\/p>\n\n\n\n

The roadmap goes against the recently proposed blanket ban on cryptocurrencies - as per the Russian Central Bank. Suggesting that crypto-related activities such as payments, exchange, and mining be banned, as it risks financial stability for the citizens of the nation.<\/p>\n\n\n\n

What Do Russia's Regulations Entail?<\/h2>\n\n\n\n

The National Bank, through this guide, advocates having an administrative and prohibitive system for cryptocurrencies. This change of position comes after Putin demanded showing up at an agreement in regards to this.<\/p>\n\n\n\n

Putin has recognized that, although cryptocurrencies convey a specific measure of hazard coming from its volatility, digital currency mining guarantees a ton of upper hand to the country.<\/p>\n\n\n\n

Since Russia enjoys the benefit of having the option to give cheap power, it will remain the third-biggest country for crypto mining.<\/p>\n\n\n\n

\"Regulation will only provide the transparency that will ensure the protection of citizens.\"<\/strong><\/em><\/p>Ivan Chebeskov, Head Of The Financial Policy Department<\/cite><\/blockquote>\n\n\n\n

<\/p>\n","post_title":"Will Russia Ban Bitcoin? Likely Not; Here's Why...","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"will-russia-ban-bitcoin-likely-not-heres-why","to_ping":"","pinged":"","post_modified":"2023-04-11 12:56:24","post_modified_gmt":"2023-04-11 02:56:24","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3341","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"};

1 2

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

Will Russia Pivot To Crypto?<\/h2>\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":3608,"post_author":"1","post_date":"2022-02-26 13:08:41","post_date_gmt":"2022-02-26 02:08:41","post_content":"\n

Kuna<\/a>, a Ukrainian-based crypto exchange has seen a huge spike in transaction volume after the news of Russia's<\/a> invasion. <\/p>\n\n\n\n

Data<\/a> from CoinGecko<\/a> shows prior to the invasion trading volumes on Thursday were around $1.5M, nearing $5M on Friday. Although trading volume has since dropped to around $2M.<\/p>\n\n\n\n

\"\"
Source: CoinGecko<\/figcaption><\/figure>\n\n\n\n

Despite global markets taking a huge hit<\/a> after the news, Ukrainians were quick to react to the news in case of an economic crisis.<\/p>\n","post_title":"Kuna, A Ukrainian Crypto Exchange Has Tripled In Volume","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"kuna-a-ukrainian-crypto-exchange-has-tripled-in-volume","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/crypto-markets-collapse-in-reaction-to-russias-war-on-ukraine\/","post_modified":"2022-02-26 22:20:07","post_modified_gmt":"2022-02-26 11:20:07","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3608","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3591,"post_author":"1","post_date":"2022-02-26 00:05:26","post_date_gmt":"2022-02-25 13:05:26","post_content":"\n

Amidst the war between Russia<\/a> and Ukraine, thousands have shown their support through Bitcoin donations to the military.<\/p>\n\n\n\n

Come Back Alive<\/a> is a Kyiv-based non-profit. Funds were donated to their Bitcoin wallet<\/a> will finance military equipment like medical kits and armor for the Ukrainian soldiers.<\/p>\n\n\n\n

Fortune reported<\/a> that $400,000 was donated after news of Russia's invasion, according to data <\/a>from blockchain and crypto analytics firm, Elliptic. Hitting over $4,000,000 today, with several contributions of over $1,000 according to Come Back Alive's director, Taras Chmut. <\/p>\n\n\n\n

\"\"<\/figure>\n\n\n\n

After originally accepting FIAT on Go Fund Me, the page has been inaccessible since Thursday. It was against Go Fund Me policies, but they stated in a blog post<\/a> that they're using their services to support military funding. Every donation sent to the original page will be sent back.<\/p>\n\n\n\n

Cryptocurrency prices have dropped<\/a> dramatically due to fears over the war, despite this support in cryptocurrencies have become one of the main ways to support various causes.<\/p>\n","post_title":"$4M+ In Bitcoin Donated To Support Ukrainian Military","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"4m-in-bitcoin-donated-to-support-ukrainian-military","to_ping":"","pinged":"","post_modified":"2023-04-30 21:39:12","post_modified_gmt":"2023-04-30 11:39:12","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3591","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3581,"post_author":"1","post_date":"2022-02-24 19:01:39","post_date_gmt":"2022-02-24 08:01:39","post_content":"\n

After Russian President, Vladamir Putin announced<\/a> a \"special military operation\" in Ukraine global markets have tanked.<\/p>\n\n\n\n

The Russian army had launched several missiles aimed at Ukraine, targeting several cities including the capital, Kyiv.<\/p>\n\n\n\n

The Bitcoin (BTC<\/a>) price has dropped 7.26% and Ethereum (ETH<\/a>) dropped 9.48% today according to CoinMarketCap<\/a>. The overall crypto market cap has dropped 8.25% to $1.58 trillion.<\/p>\n\n\n\n

\"\"
Source: CoinMarketCap<\/figcaption><\/figure>\n\n\n\n

The Communities Reactions<\/h2>\n\n\n\n

Ethereum founder Vitalik Buterin, born and raised in Russia,\u00a0tweeted<\/a> in Russian that roughly translates to <\/p>\n\n\n\n

\u201cVery upset by Putin's decision to abandon the possibility of a peaceful solution to the dispute with Ukraine and go to war instead. This is a crime against the Ukrainian and Russian people. I want to wish everyone security, although I know that there will be no security. Glory to Ukraine.\"<\/p>\n\n\n\n

\u00a0He\u00a0added<\/a>\u00a0later in English: \u201cReminder: Ethereum is neutral, but I am not.\u201d<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/VitalikButerin\/status\/1496695424387801090?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1496695424387801090%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fcointelegraph.com%2Fnews%2Fbitcoin-plunges-as-putin-announces-special-military-operation-in-ukraine\n<\/div><\/figure>\n\n\n\n

Altcoin Sherpa,\u00a0an advisor to Atlas DEX tweeted<\/a>\u00a0that \"in these situations and it's not all about the market.\"<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/AltcoinSherpa\/status\/1496685587822256130?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1496685587822256130%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fcointelegraph.com%2Fnews%2Fbitcoin-plunges-as-putin-announces-special-military-operation-in-ukraine\n<\/div><\/figure>\n","post_title":"Crypto Markets Collapse In Reaction To Russias War On Ukraine","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"crypto-markets-collapse-in-reaction-to-russias-war-on-ukraine","to_ping":"","pinged":"","post_modified":"2022-02-24 19:05:05","post_modified_gmt":"2022-02-24 08:05:05","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3581","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3453,"post_author":"1","post_date":"2022-02-12 17:06:40","post_date_gmt":"2022-02-12 06:06:40","post_content":"\n

Gy\u00f6rgy Matolcsy, the governor of the Central Bank of Hungary is supporting the proposed crypto ban by the Russian Central Bank, expressing his agreement with the proposal to ban trading and mining of cryptocurrencies.<\/p>\n\n\n\n

This comes after the recent news<\/a> that the Russian central bank was in support of banning the trading and mining of cryptocurrencies. Matolcsy stated<\/a> that \"it is clear-cut that cryptocurrencies could service illegal activities and tend to build up financial pyramids.\" <\/p>\n\n\n\n

He also added that the \"growth and market value of cryptocurrencies is defined primarily by speculative demand for future growth, which creates bubbles.\u201d Calling for unity within the EU, Matolcsy wants the EU to \"act together\" in order to preempt the building up of \"new financial pyramids and financial bubbles.\"<\/p>\n\n\n\n

It seems that he is in support of banning it from the EU, but not worldwide. \"EU citizens and companies would be allowed to own cryptocurrencies abroad and regulators will track their holdings.\" <\/p>\n\n\n\n

As Matolscy stated above, the growth and market value of cryptocurrencies is defined by speculative demand for future growth, is the support for the ban just a way to see if other countries can manage and regulate cryptocurrencies before he makes a decision on what to do, or is it another technology that isn't fully understood?<\/p>\n","post_title":"Hungarian Central Bank In Support Of Russian Crypto Ban","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"hungarian-central-bank-in-support-of-russian-crypto-ban","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/will-russia-ban-bitcoin-likely-not-heres-why\/","post_modified":"2022-02-12 17:07:44","post_modified_gmt":"2022-02-12 06:07:44","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3453","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3439,"post_author":"1","post_date":"2022-02-10 21:26:57","post_date_gmt":"2022-02-10 10:26:57","post_content":"\n

Russians own over $214 Billion worth, or 12% of the total value<\/a> of cryptocurrencies worldwide, according to a Bloomberg report<\/a>. <\/p>\n\n\n\n

The data coming from the Kremlin and government officials out of Moscow was articulated from analyzing the IP addresses of the most prominent exchange users out of the country along with various other data points, as stated by two officials from Kremlin.<\/p>\n\n\n\n

The data comes after the Russian government had decided to regulate<\/a> rather than ban cryptocurrencies. The analysis will help articulate an overview of the market to assist in their regulations and should be taken with a grain of salt because of the anonymous nature of cryptocurrencies in general.<\/p>\n\n\n\n

\u201cRussians really do have a lot of money in cryptocurrency, but it\u2019s hard to value the true amount...many people are using cash, derivative instruments, or have two passports and can open a crypto wallet in someone else\u2019s name.\u201d<\/em><\/strong><\/p>Alexander Filatov, Co-Founder and CEO of TON Labs<\/a><\/cite><\/blockquote>\n\n\n\n

The statistics offer a snapshot of how widespread cryptocurrency investing has become in Russia being the\u00a0third-biggest<\/a>\u00a0Bitcoin miner in the world, as officials at the central bank push for a blanket ban on the local industry, while the government pursues a softer approach.((https:\/\/www.bloomberg.com\/news\/articles\/2022-02-01\/russia-values-local-crypto-market-at-200-billion-as-rules-near))\u00a0<\/p>\n","post_title":"Russians Own 12% Of The Worlds Cryptocurrencies","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"russians-own-12-of-the-worlds-cryptocurrencies","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/will-russia-ban-bitcoin-likely-not-heres-why\/","post_modified":"2023-04-30 21:39:59","post_modified_gmt":"2023-04-30 11:39:59","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3439","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3341,"post_author":"1","post_date":"2022-01-31 22:09:02","post_date_gmt":"2022-01-31 11:09:02","post_content":"\n

The Russian Government has started the development of a guide that will present limitations on cryptocurrencies.<\/p>\n\n\n\n

The roadmap presented by the Russian Government and approved by Deputy Chairman Dmitry Chernyshenko will work to ease the adoption of cryptocurrencies while halting financial instability. <\/p>\n\n\n\n

It will seek to provide a regulatory framework within the cryptocurrency markets having with an emphasis on violations and dangers within the industry.<\/p>\n\n\n\n

The roadmap goes against the recently proposed blanket ban on cryptocurrencies - as per the Russian Central Bank. Suggesting that crypto-related activities such as payments, exchange, and mining be banned, as it risks financial stability for the citizens of the nation.<\/p>\n\n\n\n

What Do Russia's Regulations Entail?<\/h2>\n\n\n\n

The National Bank, through this guide, advocates having an administrative and prohibitive system for cryptocurrencies. This change of position comes after Putin demanded showing up at an agreement in regards to this.<\/p>\n\n\n\n

Putin has recognized that, although cryptocurrencies convey a specific measure of hazard coming from its volatility, digital currency mining guarantees a ton of upper hand to the country.<\/p>\n\n\n\n

Since Russia enjoys the benefit of having the option to give cheap power, it will remain the third-biggest country for crypto mining.<\/p>\n\n\n\n

\"Regulation will only provide the transparency that will ensure the protection of citizens.\"<\/strong><\/em><\/p>Ivan Chebeskov, Head Of The Financial Policy Department<\/cite><\/blockquote>\n\n\n\n

<\/p>\n","post_title":"Will Russia Ban Bitcoin? Likely Not; Here's Why...","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"will-russia-ban-bitcoin-likely-not-heres-why","to_ping":"","pinged":"","post_modified":"2023-04-11 12:56:24","post_modified_gmt":"2023-04-11 02:56:24","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3341","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"};

1 2

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\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

Will Russia Pivot To Crypto?<\/h2>\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":3608,"post_author":"1","post_date":"2022-02-26 13:08:41","post_date_gmt":"2022-02-26 02:08:41","post_content":"\n

Kuna<\/a>, a Ukrainian-based crypto exchange has seen a huge spike in transaction volume after the news of Russia's<\/a> invasion. <\/p>\n\n\n\n

Data<\/a> from CoinGecko<\/a> shows prior to the invasion trading volumes on Thursday were around $1.5M, nearing $5M on Friday. Although trading volume has since dropped to around $2M.<\/p>\n\n\n\n

\"\"
Source: CoinGecko<\/figcaption><\/figure>\n\n\n\n

Despite global markets taking a huge hit<\/a> after the news, Ukrainians were quick to react to the news in case of an economic crisis.<\/p>\n","post_title":"Kuna, A Ukrainian Crypto Exchange Has Tripled In Volume","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"kuna-a-ukrainian-crypto-exchange-has-tripled-in-volume","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/crypto-markets-collapse-in-reaction-to-russias-war-on-ukraine\/","post_modified":"2022-02-26 22:20:07","post_modified_gmt":"2022-02-26 11:20:07","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3608","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3591,"post_author":"1","post_date":"2022-02-26 00:05:26","post_date_gmt":"2022-02-25 13:05:26","post_content":"\n

Amidst the war between Russia<\/a> and Ukraine, thousands have shown their support through Bitcoin donations to the military.<\/p>\n\n\n\n

Come Back Alive<\/a> is a Kyiv-based non-profit. Funds were donated to their Bitcoin wallet<\/a> will finance military equipment like medical kits and armor for the Ukrainian soldiers.<\/p>\n\n\n\n

Fortune reported<\/a> that $400,000 was donated after news of Russia's invasion, according to data <\/a>from blockchain and crypto analytics firm, Elliptic. Hitting over $4,000,000 today, with several contributions of over $1,000 according to Come Back Alive's director, Taras Chmut. <\/p>\n\n\n\n

\"\"<\/figure>\n\n\n\n

After originally accepting FIAT on Go Fund Me, the page has been inaccessible since Thursday. It was against Go Fund Me policies, but they stated in a blog post<\/a> that they're using their services to support military funding. Every donation sent to the original page will be sent back.<\/p>\n\n\n\n

Cryptocurrency prices have dropped<\/a> dramatically due to fears over the war, despite this support in cryptocurrencies have become one of the main ways to support various causes.<\/p>\n","post_title":"$4M+ In Bitcoin Donated To Support Ukrainian Military","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"4m-in-bitcoin-donated-to-support-ukrainian-military","to_ping":"","pinged":"","post_modified":"2023-04-30 21:39:12","post_modified_gmt":"2023-04-30 11:39:12","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3591","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3581,"post_author":"1","post_date":"2022-02-24 19:01:39","post_date_gmt":"2022-02-24 08:01:39","post_content":"\n

After Russian President, Vladamir Putin announced<\/a> a \"special military operation\" in Ukraine global markets have tanked.<\/p>\n\n\n\n

The Russian army had launched several missiles aimed at Ukraine, targeting several cities including the capital, Kyiv.<\/p>\n\n\n\n

The Bitcoin (BTC<\/a>) price has dropped 7.26% and Ethereum (ETH<\/a>) dropped 9.48% today according to CoinMarketCap<\/a>. The overall crypto market cap has dropped 8.25% to $1.58 trillion.<\/p>\n\n\n\n

\"\"
Source: CoinMarketCap<\/figcaption><\/figure>\n\n\n\n

The Communities Reactions<\/h2>\n\n\n\n

Ethereum founder Vitalik Buterin, born and raised in Russia,\u00a0tweeted<\/a> in Russian that roughly translates to <\/p>\n\n\n\n

\u201cVery upset by Putin's decision to abandon the possibility of a peaceful solution to the dispute with Ukraine and go to war instead. This is a crime against the Ukrainian and Russian people. I want to wish everyone security, although I know that there will be no security. Glory to Ukraine.\"<\/p>\n\n\n\n

\u00a0He\u00a0added<\/a>\u00a0later in English: \u201cReminder: Ethereum is neutral, but I am not.\u201d<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/VitalikButerin\/status\/1496695424387801090?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1496695424387801090%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fcointelegraph.com%2Fnews%2Fbitcoin-plunges-as-putin-announces-special-military-operation-in-ukraine\n<\/div><\/figure>\n\n\n\n

Altcoin Sherpa,\u00a0an advisor to Atlas DEX tweeted<\/a>\u00a0that \"in these situations and it's not all about the market.\"<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/AltcoinSherpa\/status\/1496685587822256130?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1496685587822256130%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fcointelegraph.com%2Fnews%2Fbitcoin-plunges-as-putin-announces-special-military-operation-in-ukraine\n<\/div><\/figure>\n","post_title":"Crypto Markets Collapse In Reaction To Russias War On Ukraine","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"crypto-markets-collapse-in-reaction-to-russias-war-on-ukraine","to_ping":"","pinged":"","post_modified":"2022-02-24 19:05:05","post_modified_gmt":"2022-02-24 08:05:05","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3581","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3453,"post_author":"1","post_date":"2022-02-12 17:06:40","post_date_gmt":"2022-02-12 06:06:40","post_content":"\n

Gy\u00f6rgy Matolcsy, the governor of the Central Bank of Hungary is supporting the proposed crypto ban by the Russian Central Bank, expressing his agreement with the proposal to ban trading and mining of cryptocurrencies.<\/p>\n\n\n\n

This comes after the recent news<\/a> that the Russian central bank was in support of banning the trading and mining of cryptocurrencies. Matolcsy stated<\/a> that \"it is clear-cut that cryptocurrencies could service illegal activities and tend to build up financial pyramids.\" <\/p>\n\n\n\n

He also added that the \"growth and market value of cryptocurrencies is defined primarily by speculative demand for future growth, which creates bubbles.\u201d Calling for unity within the EU, Matolcsy wants the EU to \"act together\" in order to preempt the building up of \"new financial pyramids and financial bubbles.\"<\/p>\n\n\n\n

It seems that he is in support of banning it from the EU, but not worldwide. \"EU citizens and companies would be allowed to own cryptocurrencies abroad and regulators will track their holdings.\" <\/p>\n\n\n\n

As Matolscy stated above, the growth and market value of cryptocurrencies is defined by speculative demand for future growth, is the support for the ban just a way to see if other countries can manage and regulate cryptocurrencies before he makes a decision on what to do, or is it another technology that isn't fully understood?<\/p>\n","post_title":"Hungarian Central Bank In Support Of Russian Crypto Ban","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"hungarian-central-bank-in-support-of-russian-crypto-ban","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/will-russia-ban-bitcoin-likely-not-heres-why\/","post_modified":"2022-02-12 17:07:44","post_modified_gmt":"2022-02-12 06:07:44","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3453","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3439,"post_author":"1","post_date":"2022-02-10 21:26:57","post_date_gmt":"2022-02-10 10:26:57","post_content":"\n

Russians own over $214 Billion worth, or 12% of the total value<\/a> of cryptocurrencies worldwide, according to a Bloomberg report<\/a>. <\/p>\n\n\n\n

The data coming from the Kremlin and government officials out of Moscow was articulated from analyzing the IP addresses of the most prominent exchange users out of the country along with various other data points, as stated by two officials from Kremlin.<\/p>\n\n\n\n

The data comes after the Russian government had decided to regulate<\/a> rather than ban cryptocurrencies. The analysis will help articulate an overview of the market to assist in their regulations and should be taken with a grain of salt because of the anonymous nature of cryptocurrencies in general.<\/p>\n\n\n\n

\u201cRussians really do have a lot of money in cryptocurrency, but it\u2019s hard to value the true amount...many people are using cash, derivative instruments, or have two passports and can open a crypto wallet in someone else\u2019s name.\u201d<\/em><\/strong><\/p>Alexander Filatov, Co-Founder and CEO of TON Labs<\/a><\/cite><\/blockquote>\n\n\n\n

The statistics offer a snapshot of how widespread cryptocurrency investing has become in Russia being the\u00a0third-biggest<\/a>\u00a0Bitcoin miner in the world, as officials at the central bank push for a blanket ban on the local industry, while the government pursues a softer approach.((https:\/\/www.bloomberg.com\/news\/articles\/2022-02-01\/russia-values-local-crypto-market-at-200-billion-as-rules-near))\u00a0<\/p>\n","post_title":"Russians Own 12% Of The Worlds Cryptocurrencies","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"russians-own-12-of-the-worlds-cryptocurrencies","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/will-russia-ban-bitcoin-likely-not-heres-why\/","post_modified":"2023-04-30 21:39:59","post_modified_gmt":"2023-04-30 11:39:59","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3439","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3341,"post_author":"1","post_date":"2022-01-31 22:09:02","post_date_gmt":"2022-01-31 11:09:02","post_content":"\n

The Russian Government has started the development of a guide that will present limitations on cryptocurrencies.<\/p>\n\n\n\n

The roadmap presented by the Russian Government and approved by Deputy Chairman Dmitry Chernyshenko will work to ease the adoption of cryptocurrencies while halting financial instability. <\/p>\n\n\n\n

It will seek to provide a regulatory framework within the cryptocurrency markets having with an emphasis on violations and dangers within the industry.<\/p>\n\n\n\n

The roadmap goes against the recently proposed blanket ban on cryptocurrencies - as per the Russian Central Bank. Suggesting that crypto-related activities such as payments, exchange, and mining be banned, as it risks financial stability for the citizens of the nation.<\/p>\n\n\n\n

What Do Russia's Regulations Entail?<\/h2>\n\n\n\n

The National Bank, through this guide, advocates having an administrative and prohibitive system for cryptocurrencies. This change of position comes after Putin demanded showing up at an agreement in regards to this.<\/p>\n\n\n\n

Putin has recognized that, although cryptocurrencies convey a specific measure of hazard coming from its volatility, digital currency mining guarantees a ton of upper hand to the country.<\/p>\n\n\n\n

Since Russia enjoys the benefit of having the option to give cheap power, it will remain the third-biggest country for crypto mining.<\/p>\n\n\n\n

\"Regulation will only provide the transparency that will ensure the protection of citizens.\"<\/strong><\/em><\/p>Ivan Chebeskov, Head Of The Financial Policy Department<\/cite><\/blockquote>\n\n\n\n

<\/p>\n","post_title":"Will Russia Ban Bitcoin? Likely Not; Here's Why...","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"will-russia-ban-bitcoin-likely-not-heres-why","to_ping":"","pinged":"","post_modified":"2023-04-11 12:56:24","post_modified_gmt":"2023-04-11 02:56:24","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3341","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"};

1 2

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\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

Will Russia Pivot To Crypto?<\/h2>\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":3608,"post_author":"1","post_date":"2022-02-26 13:08:41","post_date_gmt":"2022-02-26 02:08:41","post_content":"\n

Kuna<\/a>, a Ukrainian-based crypto exchange has seen a huge spike in transaction volume after the news of Russia's<\/a> invasion. <\/p>\n\n\n\n

Data<\/a> from CoinGecko<\/a> shows prior to the invasion trading volumes on Thursday were around $1.5M, nearing $5M on Friday. Although trading volume has since dropped to around $2M.<\/p>\n\n\n\n

\"\"
Source: CoinGecko<\/figcaption><\/figure>\n\n\n\n

Despite global markets taking a huge hit<\/a> after the news, Ukrainians were quick to react to the news in case of an economic crisis.<\/p>\n","post_title":"Kuna, A Ukrainian Crypto Exchange Has Tripled In Volume","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"kuna-a-ukrainian-crypto-exchange-has-tripled-in-volume","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/crypto-markets-collapse-in-reaction-to-russias-war-on-ukraine\/","post_modified":"2022-02-26 22:20:07","post_modified_gmt":"2022-02-26 11:20:07","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3608","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3591,"post_author":"1","post_date":"2022-02-26 00:05:26","post_date_gmt":"2022-02-25 13:05:26","post_content":"\n

Amidst the war between Russia<\/a> and Ukraine, thousands have shown their support through Bitcoin donations to the military.<\/p>\n\n\n\n

Come Back Alive<\/a> is a Kyiv-based non-profit. Funds were donated to their Bitcoin wallet<\/a> will finance military equipment like medical kits and armor for the Ukrainian soldiers.<\/p>\n\n\n\n

Fortune reported<\/a> that $400,000 was donated after news of Russia's invasion, according to data <\/a>from blockchain and crypto analytics firm, Elliptic. Hitting over $4,000,000 today, with several contributions of over $1,000 according to Come Back Alive's director, Taras Chmut. <\/p>\n\n\n\n

\"\"<\/figure>\n\n\n\n

After originally accepting FIAT on Go Fund Me, the page has been inaccessible since Thursday. It was against Go Fund Me policies, but they stated in a blog post<\/a> that they're using their services to support military funding. Every donation sent to the original page will be sent back.<\/p>\n\n\n\n

Cryptocurrency prices have dropped<\/a> dramatically due to fears over the war, despite this support in cryptocurrencies have become one of the main ways to support various causes.<\/p>\n","post_title":"$4M+ In Bitcoin Donated To Support Ukrainian Military","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"4m-in-bitcoin-donated-to-support-ukrainian-military","to_ping":"","pinged":"","post_modified":"2023-04-30 21:39:12","post_modified_gmt":"2023-04-30 11:39:12","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3591","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3581,"post_author":"1","post_date":"2022-02-24 19:01:39","post_date_gmt":"2022-02-24 08:01:39","post_content":"\n

After Russian President, Vladamir Putin announced<\/a> a \"special military operation\" in Ukraine global markets have tanked.<\/p>\n\n\n\n

The Russian army had launched several missiles aimed at Ukraine, targeting several cities including the capital, Kyiv.<\/p>\n\n\n\n

The Bitcoin (BTC<\/a>) price has dropped 7.26% and Ethereum (ETH<\/a>) dropped 9.48% today according to CoinMarketCap<\/a>. The overall crypto market cap has dropped 8.25% to $1.58 trillion.<\/p>\n\n\n\n

\"\"
Source: CoinMarketCap<\/figcaption><\/figure>\n\n\n\n

The Communities Reactions<\/h2>\n\n\n\n

Ethereum founder Vitalik Buterin, born and raised in Russia,\u00a0tweeted<\/a> in Russian that roughly translates to <\/p>\n\n\n\n

\u201cVery upset by Putin's decision to abandon the possibility of a peaceful solution to the dispute with Ukraine and go to war instead. This is a crime against the Ukrainian and Russian people. I want to wish everyone security, although I know that there will be no security. Glory to Ukraine.\"<\/p>\n\n\n\n

\u00a0He\u00a0added<\/a>\u00a0later in English: \u201cReminder: Ethereum is neutral, but I am not.\u201d<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/VitalikButerin\/status\/1496695424387801090?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1496695424387801090%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fcointelegraph.com%2Fnews%2Fbitcoin-plunges-as-putin-announces-special-military-operation-in-ukraine\n<\/div><\/figure>\n\n\n\n

Altcoin Sherpa,\u00a0an advisor to Atlas DEX tweeted<\/a>\u00a0that \"in these situations and it's not all about the market.\"<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/AltcoinSherpa\/status\/1496685587822256130?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1496685587822256130%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fcointelegraph.com%2Fnews%2Fbitcoin-plunges-as-putin-announces-special-military-operation-in-ukraine\n<\/div><\/figure>\n","post_title":"Crypto Markets Collapse In Reaction To Russias War On Ukraine","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"crypto-markets-collapse-in-reaction-to-russias-war-on-ukraine","to_ping":"","pinged":"","post_modified":"2022-02-24 19:05:05","post_modified_gmt":"2022-02-24 08:05:05","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3581","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3453,"post_author":"1","post_date":"2022-02-12 17:06:40","post_date_gmt":"2022-02-12 06:06:40","post_content":"\n

Gy\u00f6rgy Matolcsy, the governor of the Central Bank of Hungary is supporting the proposed crypto ban by the Russian Central Bank, expressing his agreement with the proposal to ban trading and mining of cryptocurrencies.<\/p>\n\n\n\n

This comes after the recent news<\/a> that the Russian central bank was in support of banning the trading and mining of cryptocurrencies. Matolcsy stated<\/a> that \"it is clear-cut that cryptocurrencies could service illegal activities and tend to build up financial pyramids.\" <\/p>\n\n\n\n

He also added that the \"growth and market value of cryptocurrencies is defined primarily by speculative demand for future growth, which creates bubbles.\u201d Calling for unity within the EU, Matolcsy wants the EU to \"act together\" in order to preempt the building up of \"new financial pyramids and financial bubbles.\"<\/p>\n\n\n\n

It seems that he is in support of banning it from the EU, but not worldwide. \"EU citizens and companies would be allowed to own cryptocurrencies abroad and regulators will track their holdings.\" <\/p>\n\n\n\n

As Matolscy stated above, the growth and market value of cryptocurrencies is defined by speculative demand for future growth, is the support for the ban just a way to see if other countries can manage and regulate cryptocurrencies before he makes a decision on what to do, or is it another technology that isn't fully understood?<\/p>\n","post_title":"Hungarian Central Bank In Support Of Russian Crypto Ban","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"hungarian-central-bank-in-support-of-russian-crypto-ban","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/will-russia-ban-bitcoin-likely-not-heres-why\/","post_modified":"2022-02-12 17:07:44","post_modified_gmt":"2022-02-12 06:07:44","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3453","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3439,"post_author":"1","post_date":"2022-02-10 21:26:57","post_date_gmt":"2022-02-10 10:26:57","post_content":"\n

Russians own over $214 Billion worth, or 12% of the total value<\/a> of cryptocurrencies worldwide, according to a Bloomberg report<\/a>. <\/p>\n\n\n\n

The data coming from the Kremlin and government officials out of Moscow was articulated from analyzing the IP addresses of the most prominent exchange users out of the country along with various other data points, as stated by two officials from Kremlin.<\/p>\n\n\n\n

The data comes after the Russian government had decided to regulate<\/a> rather than ban cryptocurrencies. The analysis will help articulate an overview of the market to assist in their regulations and should be taken with a grain of salt because of the anonymous nature of cryptocurrencies in general.<\/p>\n\n\n\n

\u201cRussians really do have a lot of money in cryptocurrency, but it\u2019s hard to value the true amount...many people are using cash, derivative instruments, or have two passports and can open a crypto wallet in someone else\u2019s name.\u201d<\/em><\/strong><\/p>Alexander Filatov, Co-Founder and CEO of TON Labs<\/a><\/cite><\/blockquote>\n\n\n\n

The statistics offer a snapshot of how widespread cryptocurrency investing has become in Russia being the\u00a0third-biggest<\/a>\u00a0Bitcoin miner in the world, as officials at the central bank push for a blanket ban on the local industry, while the government pursues a softer approach.((https:\/\/www.bloomberg.com\/news\/articles\/2022-02-01\/russia-values-local-crypto-market-at-200-billion-as-rules-near))\u00a0<\/p>\n","post_title":"Russians Own 12% Of The Worlds Cryptocurrencies","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"russians-own-12-of-the-worlds-cryptocurrencies","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/will-russia-ban-bitcoin-likely-not-heres-why\/","post_modified":"2023-04-30 21:39:59","post_modified_gmt":"2023-04-30 11:39:59","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3439","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3341,"post_author":"1","post_date":"2022-01-31 22:09:02","post_date_gmt":"2022-01-31 11:09:02","post_content":"\n

The Russian Government has started the development of a guide that will present limitations on cryptocurrencies.<\/p>\n\n\n\n

The roadmap presented by the Russian Government and approved by Deputy Chairman Dmitry Chernyshenko will work to ease the adoption of cryptocurrencies while halting financial instability. <\/p>\n\n\n\n

It will seek to provide a regulatory framework within the cryptocurrency markets having with an emphasis on violations and dangers within the industry.<\/p>\n\n\n\n

The roadmap goes against the recently proposed blanket ban on cryptocurrencies - as per the Russian Central Bank. Suggesting that crypto-related activities such as payments, exchange, and mining be banned, as it risks financial stability for the citizens of the nation.<\/p>\n\n\n\n

What Do Russia's Regulations Entail?<\/h2>\n\n\n\n

The National Bank, through this guide, advocates having an administrative and prohibitive system for cryptocurrencies. This change of position comes after Putin demanded showing up at an agreement in regards to this.<\/p>\n\n\n\n

Putin has recognized that, although cryptocurrencies convey a specific measure of hazard coming from its volatility, digital currency mining guarantees a ton of upper hand to the country.<\/p>\n\n\n\n

Since Russia enjoys the benefit of having the option to give cheap power, it will remain the third-biggest country for crypto mining.<\/p>\n\n\n\n

\"Regulation will only provide the transparency that will ensure the protection of citizens.\"<\/strong><\/em><\/p>Ivan Chebeskov, Head Of The Financial Policy Department<\/cite><\/blockquote>\n\n\n\n

<\/p>\n","post_title":"Will Russia Ban Bitcoin? Likely Not; Here's Why...","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"will-russia-ban-bitcoin-likely-not-heres-why","to_ping":"","pinged":"","post_modified":"2023-04-11 12:56:24","post_modified_gmt":"2023-04-11 02:56:24","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3341","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"};

1 2

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

What Is SWIFT?<\/h2>\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

Will Russia Pivot To Crypto?<\/h2>\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":3608,"post_author":"1","post_date":"2022-02-26 13:08:41","post_date_gmt":"2022-02-26 02:08:41","post_content":"\n

Kuna<\/a>, a Ukrainian-based crypto exchange has seen a huge spike in transaction volume after the news of Russia's<\/a> invasion. <\/p>\n\n\n\n

Data<\/a> from CoinGecko<\/a> shows prior to the invasion trading volumes on Thursday were around $1.5M, nearing $5M on Friday. Although trading volume has since dropped to around $2M.<\/p>\n\n\n\n

\"\"
Source: CoinGecko<\/figcaption><\/figure>\n\n\n\n

Despite global markets taking a huge hit<\/a> after the news, Ukrainians were quick to react to the news in case of an economic crisis.<\/p>\n","post_title":"Kuna, A Ukrainian Crypto Exchange Has Tripled In Volume","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"kuna-a-ukrainian-crypto-exchange-has-tripled-in-volume","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/crypto-markets-collapse-in-reaction-to-russias-war-on-ukraine\/","post_modified":"2022-02-26 22:20:07","post_modified_gmt":"2022-02-26 11:20:07","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3608","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3591,"post_author":"1","post_date":"2022-02-26 00:05:26","post_date_gmt":"2022-02-25 13:05:26","post_content":"\n

Amidst the war between Russia<\/a> and Ukraine, thousands have shown their support through Bitcoin donations to the military.<\/p>\n\n\n\n

Come Back Alive<\/a> is a Kyiv-based non-profit. Funds were donated to their Bitcoin wallet<\/a> will finance military equipment like medical kits and armor for the Ukrainian soldiers.<\/p>\n\n\n\n

Fortune reported<\/a> that $400,000 was donated after news of Russia's invasion, according to data <\/a>from blockchain and crypto analytics firm, Elliptic. Hitting over $4,000,000 today, with several contributions of over $1,000 according to Come Back Alive's director, Taras Chmut. <\/p>\n\n\n\n

\"\"<\/figure>\n\n\n\n

After originally accepting FIAT on Go Fund Me, the page has been inaccessible since Thursday. It was against Go Fund Me policies, but they stated in a blog post<\/a> that they're using their services to support military funding. Every donation sent to the original page will be sent back.<\/p>\n\n\n\n

Cryptocurrency prices have dropped<\/a> dramatically due to fears over the war, despite this support in cryptocurrencies have become one of the main ways to support various causes.<\/p>\n","post_title":"$4M+ In Bitcoin Donated To Support Ukrainian Military","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"4m-in-bitcoin-donated-to-support-ukrainian-military","to_ping":"","pinged":"","post_modified":"2023-04-30 21:39:12","post_modified_gmt":"2023-04-30 11:39:12","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3591","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3581,"post_author":"1","post_date":"2022-02-24 19:01:39","post_date_gmt":"2022-02-24 08:01:39","post_content":"\n

After Russian President, Vladamir Putin announced<\/a> a \"special military operation\" in Ukraine global markets have tanked.<\/p>\n\n\n\n

The Russian army had launched several missiles aimed at Ukraine, targeting several cities including the capital, Kyiv.<\/p>\n\n\n\n

The Bitcoin (BTC<\/a>) price has dropped 7.26% and Ethereum (ETH<\/a>) dropped 9.48% today according to CoinMarketCap<\/a>. The overall crypto market cap has dropped 8.25% to $1.58 trillion.<\/p>\n\n\n\n

\"\"
Source: CoinMarketCap<\/figcaption><\/figure>\n\n\n\n

The Communities Reactions<\/h2>\n\n\n\n

Ethereum founder Vitalik Buterin, born and raised in Russia,\u00a0tweeted<\/a> in Russian that roughly translates to <\/p>\n\n\n\n

\u201cVery upset by Putin's decision to abandon the possibility of a peaceful solution to the dispute with Ukraine and go to war instead. This is a crime against the Ukrainian and Russian people. I want to wish everyone security, although I know that there will be no security. Glory to Ukraine.\"<\/p>\n\n\n\n

\u00a0He\u00a0added<\/a>\u00a0later in English: \u201cReminder: Ethereum is neutral, but I am not.\u201d<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/VitalikButerin\/status\/1496695424387801090?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1496695424387801090%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fcointelegraph.com%2Fnews%2Fbitcoin-plunges-as-putin-announces-special-military-operation-in-ukraine\n<\/div><\/figure>\n\n\n\n

Altcoin Sherpa,\u00a0an advisor to Atlas DEX tweeted<\/a>\u00a0that \"in these situations and it's not all about the market.\"<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/AltcoinSherpa\/status\/1496685587822256130?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1496685587822256130%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fcointelegraph.com%2Fnews%2Fbitcoin-plunges-as-putin-announces-special-military-operation-in-ukraine\n<\/div><\/figure>\n","post_title":"Crypto Markets Collapse In Reaction To Russias War On Ukraine","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"crypto-markets-collapse-in-reaction-to-russias-war-on-ukraine","to_ping":"","pinged":"","post_modified":"2022-02-24 19:05:05","post_modified_gmt":"2022-02-24 08:05:05","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3581","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3453,"post_author":"1","post_date":"2022-02-12 17:06:40","post_date_gmt":"2022-02-12 06:06:40","post_content":"\n

Gy\u00f6rgy Matolcsy, the governor of the Central Bank of Hungary is supporting the proposed crypto ban by the Russian Central Bank, expressing his agreement with the proposal to ban trading and mining of cryptocurrencies.<\/p>\n\n\n\n

This comes after the recent news<\/a> that the Russian central bank was in support of banning the trading and mining of cryptocurrencies. Matolcsy stated<\/a> that \"it is clear-cut that cryptocurrencies could service illegal activities and tend to build up financial pyramids.\" <\/p>\n\n\n\n

He also added that the \"growth and market value of cryptocurrencies is defined primarily by speculative demand for future growth, which creates bubbles.\u201d Calling for unity within the EU, Matolcsy wants the EU to \"act together\" in order to preempt the building up of \"new financial pyramids and financial bubbles.\"<\/p>\n\n\n\n

It seems that he is in support of banning it from the EU, but not worldwide. \"EU citizens and companies would be allowed to own cryptocurrencies abroad and regulators will track their holdings.\" <\/p>\n\n\n\n

As Matolscy stated above, the growth and market value of cryptocurrencies is defined by speculative demand for future growth, is the support for the ban just a way to see if other countries can manage and regulate cryptocurrencies before he makes a decision on what to do, or is it another technology that isn't fully understood?<\/p>\n","post_title":"Hungarian Central Bank In Support Of Russian Crypto Ban","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"hungarian-central-bank-in-support-of-russian-crypto-ban","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/will-russia-ban-bitcoin-likely-not-heres-why\/","post_modified":"2022-02-12 17:07:44","post_modified_gmt":"2022-02-12 06:07:44","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3453","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3439,"post_author":"1","post_date":"2022-02-10 21:26:57","post_date_gmt":"2022-02-10 10:26:57","post_content":"\n

Russians own over $214 Billion worth, or 12% of the total value<\/a> of cryptocurrencies worldwide, according to a Bloomberg report<\/a>. <\/p>\n\n\n\n

The data coming from the Kremlin and government officials out of Moscow was articulated from analyzing the IP addresses of the most prominent exchange users out of the country along with various other data points, as stated by two officials from Kremlin.<\/p>\n\n\n\n

The data comes after the Russian government had decided to regulate<\/a> rather than ban cryptocurrencies. The analysis will help articulate an overview of the market to assist in their regulations and should be taken with a grain of salt because of the anonymous nature of cryptocurrencies in general.<\/p>\n\n\n\n

\u201cRussians really do have a lot of money in cryptocurrency, but it\u2019s hard to value the true amount...many people are using cash, derivative instruments, or have two passports and can open a crypto wallet in someone else\u2019s name.\u201d<\/em><\/strong><\/p>Alexander Filatov, Co-Founder and CEO of TON Labs<\/a><\/cite><\/blockquote>\n\n\n\n

The statistics offer a snapshot of how widespread cryptocurrency investing has become in Russia being the\u00a0third-biggest<\/a>\u00a0Bitcoin miner in the world, as officials at the central bank push for a blanket ban on the local industry, while the government pursues a softer approach.((https:\/\/www.bloomberg.com\/news\/articles\/2022-02-01\/russia-values-local-crypto-market-at-200-billion-as-rules-near))\u00a0<\/p>\n","post_title":"Russians Own 12% Of The Worlds Cryptocurrencies","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"russians-own-12-of-the-worlds-cryptocurrencies","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/will-russia-ban-bitcoin-likely-not-heres-why\/","post_modified":"2023-04-30 21:39:59","post_modified_gmt":"2023-04-30 11:39:59","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3439","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3341,"post_author":"1","post_date":"2022-01-31 22:09:02","post_date_gmt":"2022-01-31 11:09:02","post_content":"\n

The Russian Government has started the development of a guide that will present limitations on cryptocurrencies.<\/p>\n\n\n\n

The roadmap presented by the Russian Government and approved by Deputy Chairman Dmitry Chernyshenko will work to ease the adoption of cryptocurrencies while halting financial instability. <\/p>\n\n\n\n

It will seek to provide a regulatory framework within the cryptocurrency markets having with an emphasis on violations and dangers within the industry.<\/p>\n\n\n\n

The roadmap goes against the recently proposed blanket ban on cryptocurrencies - as per the Russian Central Bank. Suggesting that crypto-related activities such as payments, exchange, and mining be banned, as it risks financial stability for the citizens of the nation.<\/p>\n\n\n\n

What Do Russia's Regulations Entail?<\/h2>\n\n\n\n

The National Bank, through this guide, advocates having an administrative and prohibitive system for cryptocurrencies. This change of position comes after Putin demanded showing up at an agreement in regards to this.<\/p>\n\n\n\n

Putin has recognized that, although cryptocurrencies convey a specific measure of hazard coming from its volatility, digital currency mining guarantees a ton of upper hand to the country.<\/p>\n\n\n\n

Since Russia enjoys the benefit of having the option to give cheap power, it will remain the third-biggest country for crypto mining.<\/p>\n\n\n\n

\"Regulation will only provide the transparency that will ensure the protection of citizens.\"<\/strong><\/em><\/p>Ivan Chebeskov, Head Of The Financial Policy Department<\/cite><\/blockquote>\n\n\n\n

<\/p>\n","post_title":"Will Russia Ban Bitcoin? Likely Not; Here's Why...","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"will-russia-ban-bitcoin-likely-not-heres-why","to_ping":"","pinged":"","post_modified":"2023-04-11 12:56:24","post_modified_gmt":"2023-04-11 02:56:24","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3341","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"};

1 2

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\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

What Is SWIFT?<\/h2>\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

Will Russia Pivot To Crypto?<\/h2>\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":3608,"post_author":"1","post_date":"2022-02-26 13:08:41","post_date_gmt":"2022-02-26 02:08:41","post_content":"\n

Kuna<\/a>, a Ukrainian-based crypto exchange has seen a huge spike in transaction volume after the news of Russia's<\/a> invasion. <\/p>\n\n\n\n

Data<\/a> from CoinGecko<\/a> shows prior to the invasion trading volumes on Thursday were around $1.5M, nearing $5M on Friday. Although trading volume has since dropped to around $2M.<\/p>\n\n\n\n

\"\"
Source: CoinGecko<\/figcaption><\/figure>\n\n\n\n

Despite global markets taking a huge hit<\/a> after the news, Ukrainians were quick to react to the news in case of an economic crisis.<\/p>\n","post_title":"Kuna, A Ukrainian Crypto Exchange Has Tripled In Volume","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"kuna-a-ukrainian-crypto-exchange-has-tripled-in-volume","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/crypto-markets-collapse-in-reaction-to-russias-war-on-ukraine\/","post_modified":"2022-02-26 22:20:07","post_modified_gmt":"2022-02-26 11:20:07","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3608","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3591,"post_author":"1","post_date":"2022-02-26 00:05:26","post_date_gmt":"2022-02-25 13:05:26","post_content":"\n

Amidst the war between Russia<\/a> and Ukraine, thousands have shown their support through Bitcoin donations to the military.<\/p>\n\n\n\n

Come Back Alive<\/a> is a Kyiv-based non-profit. Funds were donated to their Bitcoin wallet<\/a> will finance military equipment like medical kits and armor for the Ukrainian soldiers.<\/p>\n\n\n\n

Fortune reported<\/a> that $400,000 was donated after news of Russia's invasion, according to data <\/a>from blockchain and crypto analytics firm, Elliptic. Hitting over $4,000,000 today, with several contributions of over $1,000 according to Come Back Alive's director, Taras Chmut. <\/p>\n\n\n\n

\"\"<\/figure>\n\n\n\n

After originally accepting FIAT on Go Fund Me, the page has been inaccessible since Thursday. It was against Go Fund Me policies, but they stated in a blog post<\/a> that they're using their services to support military funding. Every donation sent to the original page will be sent back.<\/p>\n\n\n\n

Cryptocurrency prices have dropped<\/a> dramatically due to fears over the war, despite this support in cryptocurrencies have become one of the main ways to support various causes.<\/p>\n","post_title":"$4M+ In Bitcoin Donated To Support Ukrainian Military","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"4m-in-bitcoin-donated-to-support-ukrainian-military","to_ping":"","pinged":"","post_modified":"2023-04-30 21:39:12","post_modified_gmt":"2023-04-30 11:39:12","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3591","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3581,"post_author":"1","post_date":"2022-02-24 19:01:39","post_date_gmt":"2022-02-24 08:01:39","post_content":"\n

After Russian President, Vladamir Putin announced<\/a> a \"special military operation\" in Ukraine global markets have tanked.<\/p>\n\n\n\n

The Russian army had launched several missiles aimed at Ukraine, targeting several cities including the capital, Kyiv.<\/p>\n\n\n\n

The Bitcoin (BTC<\/a>) price has dropped 7.26% and Ethereum (ETH<\/a>) dropped 9.48% today according to CoinMarketCap<\/a>. The overall crypto market cap has dropped 8.25% to $1.58 trillion.<\/p>\n\n\n\n

\"\"
Source: CoinMarketCap<\/figcaption><\/figure>\n\n\n\n

The Communities Reactions<\/h2>\n\n\n\n

Ethereum founder Vitalik Buterin, born and raised in Russia,\u00a0tweeted<\/a> in Russian that roughly translates to <\/p>\n\n\n\n

\u201cVery upset by Putin's decision to abandon the possibility of a peaceful solution to the dispute with Ukraine and go to war instead. This is a crime against the Ukrainian and Russian people. I want to wish everyone security, although I know that there will be no security. Glory to Ukraine.\"<\/p>\n\n\n\n

\u00a0He\u00a0added<\/a>\u00a0later in English: \u201cReminder: Ethereum is neutral, but I am not.\u201d<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/VitalikButerin\/status\/1496695424387801090?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1496695424387801090%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fcointelegraph.com%2Fnews%2Fbitcoin-plunges-as-putin-announces-special-military-operation-in-ukraine\n<\/div><\/figure>\n\n\n\n

Altcoin Sherpa,\u00a0an advisor to Atlas DEX tweeted<\/a>\u00a0that \"in these situations and it's not all about the market.\"<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/AltcoinSherpa\/status\/1496685587822256130?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1496685587822256130%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fcointelegraph.com%2Fnews%2Fbitcoin-plunges-as-putin-announces-special-military-operation-in-ukraine\n<\/div><\/figure>\n","post_title":"Crypto Markets Collapse In Reaction To Russias War On Ukraine","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"crypto-markets-collapse-in-reaction-to-russias-war-on-ukraine","to_ping":"","pinged":"","post_modified":"2022-02-24 19:05:05","post_modified_gmt":"2022-02-24 08:05:05","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3581","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3453,"post_author":"1","post_date":"2022-02-12 17:06:40","post_date_gmt":"2022-02-12 06:06:40","post_content":"\n

Gy\u00f6rgy Matolcsy, the governor of the Central Bank of Hungary is supporting the proposed crypto ban by the Russian Central Bank, expressing his agreement with the proposal to ban trading and mining of cryptocurrencies.<\/p>\n\n\n\n

This comes after the recent news<\/a> that the Russian central bank was in support of banning the trading and mining of cryptocurrencies. Matolcsy stated<\/a> that \"it is clear-cut that cryptocurrencies could service illegal activities and tend to build up financial pyramids.\" <\/p>\n\n\n\n

He also added that the \"growth and market value of cryptocurrencies is defined primarily by speculative demand for future growth, which creates bubbles.\u201d Calling for unity within the EU, Matolcsy wants the EU to \"act together\" in order to preempt the building up of \"new financial pyramids and financial bubbles.\"<\/p>\n\n\n\n

It seems that he is in support of banning it from the EU, but not worldwide. \"EU citizens and companies would be allowed to own cryptocurrencies abroad and regulators will track their holdings.\" <\/p>\n\n\n\n

As Matolscy stated above, the growth and market value of cryptocurrencies is defined by speculative demand for future growth, is the support for the ban just a way to see if other countries can manage and regulate cryptocurrencies before he makes a decision on what to do, or is it another technology that isn't fully understood?<\/p>\n","post_title":"Hungarian Central Bank In Support Of Russian Crypto Ban","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"hungarian-central-bank-in-support-of-russian-crypto-ban","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/will-russia-ban-bitcoin-likely-not-heres-why\/","post_modified":"2022-02-12 17:07:44","post_modified_gmt":"2022-02-12 06:07:44","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3453","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3439,"post_author":"1","post_date":"2022-02-10 21:26:57","post_date_gmt":"2022-02-10 10:26:57","post_content":"\n

Russians own over $214 Billion worth, or 12% of the total value<\/a> of cryptocurrencies worldwide, according to a Bloomberg report<\/a>. <\/p>\n\n\n\n

The data coming from the Kremlin and government officials out of Moscow was articulated from analyzing the IP addresses of the most prominent exchange users out of the country along with various other data points, as stated by two officials from Kremlin.<\/p>\n\n\n\n

The data comes after the Russian government had decided to regulate<\/a> rather than ban cryptocurrencies. The analysis will help articulate an overview of the market to assist in their regulations and should be taken with a grain of salt because of the anonymous nature of cryptocurrencies in general.<\/p>\n\n\n\n

\u201cRussians really do have a lot of money in cryptocurrency, but it\u2019s hard to value the true amount...many people are using cash, derivative instruments, or have two passports and can open a crypto wallet in someone else\u2019s name.\u201d<\/em><\/strong><\/p>Alexander Filatov, Co-Founder and CEO of TON Labs<\/a><\/cite><\/blockquote>\n\n\n\n

The statistics offer a snapshot of how widespread cryptocurrency investing has become in Russia being the\u00a0third-biggest<\/a>\u00a0Bitcoin miner in the world, as officials at the central bank push for a blanket ban on the local industry, while the government pursues a softer approach.((https:\/\/www.bloomberg.com\/news\/articles\/2022-02-01\/russia-values-local-crypto-market-at-200-billion-as-rules-near))\u00a0<\/p>\n","post_title":"Russians Own 12% Of The Worlds Cryptocurrencies","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"russians-own-12-of-the-worlds-cryptocurrencies","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/will-russia-ban-bitcoin-likely-not-heres-why\/","post_modified":"2023-04-30 21:39:59","post_modified_gmt":"2023-04-30 11:39:59","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3439","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3341,"post_author":"1","post_date":"2022-01-31 22:09:02","post_date_gmt":"2022-01-31 11:09:02","post_content":"\n

The Russian Government has started the development of a guide that will present limitations on cryptocurrencies.<\/p>\n\n\n\n

The roadmap presented by the Russian Government and approved by Deputy Chairman Dmitry Chernyshenko will work to ease the adoption of cryptocurrencies while halting financial instability. <\/p>\n\n\n\n

It will seek to provide a regulatory framework within the cryptocurrency markets having with an emphasis on violations and dangers within the industry.<\/p>\n\n\n\n

The roadmap goes against the recently proposed blanket ban on cryptocurrencies - as per the Russian Central Bank. Suggesting that crypto-related activities such as payments, exchange, and mining be banned, as it risks financial stability for the citizens of the nation.<\/p>\n\n\n\n

What Do Russia's Regulations Entail?<\/h2>\n\n\n\n

The National Bank, through this guide, advocates having an administrative and prohibitive system for cryptocurrencies. This change of position comes after Putin demanded showing up at an agreement in regards to this.<\/p>\n\n\n\n

Putin has recognized that, although cryptocurrencies convey a specific measure of hazard coming from its volatility, digital currency mining guarantees a ton of upper hand to the country.<\/p>\n\n\n\n

Since Russia enjoys the benefit of having the option to give cheap power, it will remain the third-biggest country for crypto mining.<\/p>\n\n\n\n

\"Regulation will only provide the transparency that will ensure the protection of citizens.\"<\/strong><\/em><\/p>Ivan Chebeskov, Head Of The Financial Policy Department<\/cite><\/blockquote>\n\n\n\n

<\/p>\n","post_title":"Will Russia Ban Bitcoin? Likely Not; Here's Why...","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"will-russia-ban-bitcoin-likely-not-heres-why","to_ping":"","pinged":"","post_modified":"2023-04-11 12:56:24","post_modified_gmt":"2023-04-11 02:56:24","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3341","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"};

1 2

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\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

What Is SWIFT?<\/h2>\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

Will Russia Pivot To Crypto?<\/h2>\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":3608,"post_author":"1","post_date":"2022-02-26 13:08:41","post_date_gmt":"2022-02-26 02:08:41","post_content":"\n

Kuna<\/a>, a Ukrainian-based crypto exchange has seen a huge spike in transaction volume after the news of Russia's<\/a> invasion. <\/p>\n\n\n\n

Data<\/a> from CoinGecko<\/a> shows prior to the invasion trading volumes on Thursday were around $1.5M, nearing $5M on Friday. Although trading volume has since dropped to around $2M.<\/p>\n\n\n\n

\"\"
Source: CoinGecko<\/figcaption><\/figure>\n\n\n\n

Despite global markets taking a huge hit<\/a> after the news, Ukrainians were quick to react to the news in case of an economic crisis.<\/p>\n","post_title":"Kuna, A Ukrainian Crypto Exchange Has Tripled In Volume","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"kuna-a-ukrainian-crypto-exchange-has-tripled-in-volume","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/crypto-markets-collapse-in-reaction-to-russias-war-on-ukraine\/","post_modified":"2022-02-26 22:20:07","post_modified_gmt":"2022-02-26 11:20:07","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3608","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3591,"post_author":"1","post_date":"2022-02-26 00:05:26","post_date_gmt":"2022-02-25 13:05:26","post_content":"\n

Amidst the war between Russia<\/a> and Ukraine, thousands have shown their support through Bitcoin donations to the military.<\/p>\n\n\n\n

Come Back Alive<\/a> is a Kyiv-based non-profit. Funds were donated to their Bitcoin wallet<\/a> will finance military equipment like medical kits and armor for the Ukrainian soldiers.<\/p>\n\n\n\n

Fortune reported<\/a> that $400,000 was donated after news of Russia's invasion, according to data <\/a>from blockchain and crypto analytics firm, Elliptic. Hitting over $4,000,000 today, with several contributions of over $1,000 according to Come Back Alive's director, Taras Chmut. <\/p>\n\n\n\n

\"\"<\/figure>\n\n\n\n

After originally accepting FIAT on Go Fund Me, the page has been inaccessible since Thursday. It was against Go Fund Me policies, but they stated in a blog post<\/a> that they're using their services to support military funding. Every donation sent to the original page will be sent back.<\/p>\n\n\n\n

Cryptocurrency prices have dropped<\/a> dramatically due to fears over the war, despite this support in cryptocurrencies have become one of the main ways to support various causes.<\/p>\n","post_title":"$4M+ In Bitcoin Donated To Support Ukrainian Military","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"4m-in-bitcoin-donated-to-support-ukrainian-military","to_ping":"","pinged":"","post_modified":"2023-04-30 21:39:12","post_modified_gmt":"2023-04-30 11:39:12","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3591","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3581,"post_author":"1","post_date":"2022-02-24 19:01:39","post_date_gmt":"2022-02-24 08:01:39","post_content":"\n

After Russian President, Vladamir Putin announced<\/a> a \"special military operation\" in Ukraine global markets have tanked.<\/p>\n\n\n\n

The Russian army had launched several missiles aimed at Ukraine, targeting several cities including the capital, Kyiv.<\/p>\n\n\n\n

The Bitcoin (BTC<\/a>) price has dropped 7.26% and Ethereum (ETH<\/a>) dropped 9.48% today according to CoinMarketCap<\/a>. The overall crypto market cap has dropped 8.25% to $1.58 trillion.<\/p>\n\n\n\n

\"\"
Source: CoinMarketCap<\/figcaption><\/figure>\n\n\n\n

The Communities Reactions<\/h2>\n\n\n\n

Ethereum founder Vitalik Buterin, born and raised in Russia,\u00a0tweeted<\/a> in Russian that roughly translates to <\/p>\n\n\n\n

\u201cVery upset by Putin's decision to abandon the possibility of a peaceful solution to the dispute with Ukraine and go to war instead. This is a crime against the Ukrainian and Russian people. I want to wish everyone security, although I know that there will be no security. Glory to Ukraine.\"<\/p>\n\n\n\n

\u00a0He\u00a0added<\/a>\u00a0later in English: \u201cReminder: Ethereum is neutral, but I am not.\u201d<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/VitalikButerin\/status\/1496695424387801090?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1496695424387801090%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fcointelegraph.com%2Fnews%2Fbitcoin-plunges-as-putin-announces-special-military-operation-in-ukraine\n<\/div><\/figure>\n\n\n\n

Altcoin Sherpa,\u00a0an advisor to Atlas DEX tweeted<\/a>\u00a0that \"in these situations and it's not all about the market.\"<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/AltcoinSherpa\/status\/1496685587822256130?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1496685587822256130%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fcointelegraph.com%2Fnews%2Fbitcoin-plunges-as-putin-announces-special-military-operation-in-ukraine\n<\/div><\/figure>\n","post_title":"Crypto Markets Collapse In Reaction To Russias War On Ukraine","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"crypto-markets-collapse-in-reaction-to-russias-war-on-ukraine","to_ping":"","pinged":"","post_modified":"2022-02-24 19:05:05","post_modified_gmt":"2022-02-24 08:05:05","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3581","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3453,"post_author":"1","post_date":"2022-02-12 17:06:40","post_date_gmt":"2022-02-12 06:06:40","post_content":"\n

Gy\u00f6rgy Matolcsy, the governor of the Central Bank of Hungary is supporting the proposed crypto ban by the Russian Central Bank, expressing his agreement with the proposal to ban trading and mining of cryptocurrencies.<\/p>\n\n\n\n

This comes after the recent news<\/a> that the Russian central bank was in support of banning the trading and mining of cryptocurrencies. Matolcsy stated<\/a> that \"it is clear-cut that cryptocurrencies could service illegal activities and tend to build up financial pyramids.\" <\/p>\n\n\n\n

He also added that the \"growth and market value of cryptocurrencies is defined primarily by speculative demand for future growth, which creates bubbles.\u201d Calling for unity within the EU, Matolcsy wants the EU to \"act together\" in order to preempt the building up of \"new financial pyramids and financial bubbles.\"<\/p>\n\n\n\n

It seems that he is in support of banning it from the EU, but not worldwide. \"EU citizens and companies would be allowed to own cryptocurrencies abroad and regulators will track their holdings.\" <\/p>\n\n\n\n

As Matolscy stated above, the growth and market value of cryptocurrencies is defined by speculative demand for future growth, is the support for the ban just a way to see if other countries can manage and regulate cryptocurrencies before he makes a decision on what to do, or is it another technology that isn't fully understood?<\/p>\n","post_title":"Hungarian Central Bank In Support Of Russian Crypto Ban","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"hungarian-central-bank-in-support-of-russian-crypto-ban","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/will-russia-ban-bitcoin-likely-not-heres-why\/","post_modified":"2022-02-12 17:07:44","post_modified_gmt":"2022-02-12 06:07:44","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3453","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3439,"post_author":"1","post_date":"2022-02-10 21:26:57","post_date_gmt":"2022-02-10 10:26:57","post_content":"\n

Russians own over $214 Billion worth, or 12% of the total value<\/a> of cryptocurrencies worldwide, according to a Bloomberg report<\/a>. <\/p>\n\n\n\n

The data coming from the Kremlin and government officials out of Moscow was articulated from analyzing the IP addresses of the most prominent exchange users out of the country along with various other data points, as stated by two officials from Kremlin.<\/p>\n\n\n\n

The data comes after the Russian government had decided to regulate<\/a> rather than ban cryptocurrencies. The analysis will help articulate an overview of the market to assist in their regulations and should be taken with a grain of salt because of the anonymous nature of cryptocurrencies in general.<\/p>\n\n\n\n

\u201cRussians really do have a lot of money in cryptocurrency, but it\u2019s hard to value the true amount...many people are using cash, derivative instruments, or have two passports and can open a crypto wallet in someone else\u2019s name.\u201d<\/em><\/strong><\/p>Alexander Filatov, Co-Founder and CEO of TON Labs<\/a><\/cite><\/blockquote>\n\n\n\n

The statistics offer a snapshot of how widespread cryptocurrency investing has become in Russia being the\u00a0third-biggest<\/a>\u00a0Bitcoin miner in the world, as officials at the central bank push for a blanket ban on the local industry, while the government pursues a softer approach.((https:\/\/www.bloomberg.com\/news\/articles\/2022-02-01\/russia-values-local-crypto-market-at-200-billion-as-rules-near))\u00a0<\/p>\n","post_title":"Russians Own 12% Of The Worlds Cryptocurrencies","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"russians-own-12-of-the-worlds-cryptocurrencies","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/will-russia-ban-bitcoin-likely-not-heres-why\/","post_modified":"2023-04-30 21:39:59","post_modified_gmt":"2023-04-30 11:39:59","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3439","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3341,"post_author":"1","post_date":"2022-01-31 22:09:02","post_date_gmt":"2022-01-31 11:09:02","post_content":"\n

The Russian Government has started the development of a guide that will present limitations on cryptocurrencies.<\/p>\n\n\n\n

The roadmap presented by the Russian Government and approved by Deputy Chairman Dmitry Chernyshenko will work to ease the adoption of cryptocurrencies while halting financial instability. <\/p>\n\n\n\n

It will seek to provide a regulatory framework within the cryptocurrency markets having with an emphasis on violations and dangers within the industry.<\/p>\n\n\n\n

The roadmap goes against the recently proposed blanket ban on cryptocurrencies - as per the Russian Central Bank. Suggesting that crypto-related activities such as payments, exchange, and mining be banned, as it risks financial stability for the citizens of the nation.<\/p>\n\n\n\n

What Do Russia's Regulations Entail?<\/h2>\n\n\n\n

The National Bank, through this guide, advocates having an administrative and prohibitive system for cryptocurrencies. This change of position comes after Putin demanded showing up at an agreement in regards to this.<\/p>\n\n\n\n

Putin has recognized that, although cryptocurrencies convey a specific measure of hazard coming from its volatility, digital currency mining guarantees a ton of upper hand to the country.<\/p>\n\n\n\n

Since Russia enjoys the benefit of having the option to give cheap power, it will remain the third-biggest country for crypto mining.<\/p>\n\n\n\n

\"Regulation will only provide the transparency that will ensure the protection of citizens.\"<\/strong><\/em><\/p>Ivan Chebeskov, Head Of The Financial Policy Department<\/cite><\/blockquote>\n\n\n\n

<\/p>\n","post_title":"Will Russia Ban Bitcoin? Likely Not; Here's Why...","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"will-russia-ban-bitcoin-likely-not-heres-why","to_ping":"","pinged":"","post_modified":"2023-04-11 12:56:24","post_modified_gmt":"2023-04-11 02:56:24","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3341","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"};

1 2

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

In response to the sanctions and bans imposed on Russia, Russia's central bank more than doubled its interest rates to a crazy 20%. This was done in an effort to \"maintain financial and price stability\" stated the central bank.<\/p>\n","post_title":"Bitcoin Overtakes The Russian Ruble In Value","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"bitcoin-overtakes-russian-ruble-in-value","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/crypto-markets-collapse-in-reaction-to-russias-war-on-ukraine\/\nhttps:\/\/www.thedistributed.co\/will-russian-banks-blocked-from-swift-turn-to-crypto\/","post_modified":"2023-04-11 12:53:33","post_modified_gmt":"2023-04-11 02:53:33","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3684","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

What Is SWIFT?<\/h2>\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

Will Russia Pivot To Crypto?<\/h2>\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":3608,"post_author":"1","post_date":"2022-02-26 13:08:41","post_date_gmt":"2022-02-26 02:08:41","post_content":"\n

Kuna<\/a>, a Ukrainian-based crypto exchange has seen a huge spike in transaction volume after the news of Russia's<\/a> invasion. <\/p>\n\n\n\n

Data<\/a> from CoinGecko<\/a> shows prior to the invasion trading volumes on Thursday were around $1.5M, nearing $5M on Friday. Although trading volume has since dropped to around $2M.<\/p>\n\n\n\n

\"\"
Source: CoinGecko<\/figcaption><\/figure>\n\n\n\n

Despite global markets taking a huge hit<\/a> after the news, Ukrainians were quick to react to the news in case of an economic crisis.<\/p>\n","post_title":"Kuna, A Ukrainian Crypto Exchange Has Tripled In Volume","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"kuna-a-ukrainian-crypto-exchange-has-tripled-in-volume","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/crypto-markets-collapse-in-reaction-to-russias-war-on-ukraine\/","post_modified":"2022-02-26 22:20:07","post_modified_gmt":"2022-02-26 11:20:07","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3608","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3591,"post_author":"1","post_date":"2022-02-26 00:05:26","post_date_gmt":"2022-02-25 13:05:26","post_content":"\n

Amidst the war between Russia<\/a> and Ukraine, thousands have shown their support through Bitcoin donations to the military.<\/p>\n\n\n\n

Come Back Alive<\/a> is a Kyiv-based non-profit. Funds were donated to their Bitcoin wallet<\/a> will finance military equipment like medical kits and armor for the Ukrainian soldiers.<\/p>\n\n\n\n

Fortune reported<\/a> that $400,000 was donated after news of Russia's invasion, according to data <\/a>from blockchain and crypto analytics firm, Elliptic. Hitting over $4,000,000 today, with several contributions of over $1,000 according to Come Back Alive's director, Taras Chmut. <\/p>\n\n\n\n

\"\"<\/figure>\n\n\n\n

After originally accepting FIAT on Go Fund Me, the page has been inaccessible since Thursday. It was against Go Fund Me policies, but they stated in a blog post<\/a> that they're using their services to support military funding. Every donation sent to the original page will be sent back.<\/p>\n\n\n\n

Cryptocurrency prices have dropped<\/a> dramatically due to fears over the war, despite this support in cryptocurrencies have become one of the main ways to support various causes.<\/p>\n","post_title":"$4M+ In Bitcoin Donated To Support Ukrainian Military","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"4m-in-bitcoin-donated-to-support-ukrainian-military","to_ping":"","pinged":"","post_modified":"2023-04-30 21:39:12","post_modified_gmt":"2023-04-30 11:39:12","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3591","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3581,"post_author":"1","post_date":"2022-02-24 19:01:39","post_date_gmt":"2022-02-24 08:01:39","post_content":"\n

After Russian President, Vladamir Putin announced<\/a> a \"special military operation\" in Ukraine global markets have tanked.<\/p>\n\n\n\n

The Russian army had launched several missiles aimed at Ukraine, targeting several cities including the capital, Kyiv.<\/p>\n\n\n\n

The Bitcoin (BTC<\/a>) price has dropped 7.26% and Ethereum (ETH<\/a>) dropped 9.48% today according to CoinMarketCap<\/a>. The overall crypto market cap has dropped 8.25% to $1.58 trillion.<\/p>\n\n\n\n

\"\"
Source: CoinMarketCap<\/figcaption><\/figure>\n\n\n\n

The Communities Reactions<\/h2>\n\n\n\n

Ethereum founder Vitalik Buterin, born and raised in Russia,\u00a0tweeted<\/a> in Russian that roughly translates to <\/p>\n\n\n\n

\u201cVery upset by Putin's decision to abandon the possibility of a peaceful solution to the dispute with Ukraine and go to war instead. This is a crime against the Ukrainian and Russian people. I want to wish everyone security, although I know that there will be no security. Glory to Ukraine.\"<\/p>\n\n\n\n

\u00a0He\u00a0added<\/a>\u00a0later in English: \u201cReminder: Ethereum is neutral, but I am not.\u201d<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/VitalikButerin\/status\/1496695424387801090?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1496695424387801090%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fcointelegraph.com%2Fnews%2Fbitcoin-plunges-as-putin-announces-special-military-operation-in-ukraine\n<\/div><\/figure>\n\n\n\n

Altcoin Sherpa,\u00a0an advisor to Atlas DEX tweeted<\/a>\u00a0that \"in these situations and it's not all about the market.\"<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/AltcoinSherpa\/status\/1496685587822256130?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1496685587822256130%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fcointelegraph.com%2Fnews%2Fbitcoin-plunges-as-putin-announces-special-military-operation-in-ukraine\n<\/div><\/figure>\n","post_title":"Crypto Markets Collapse In Reaction To Russias War On Ukraine","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"crypto-markets-collapse-in-reaction-to-russias-war-on-ukraine","to_ping":"","pinged":"","post_modified":"2022-02-24 19:05:05","post_modified_gmt":"2022-02-24 08:05:05","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3581","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3453,"post_author":"1","post_date":"2022-02-12 17:06:40","post_date_gmt":"2022-02-12 06:06:40","post_content":"\n

Gy\u00f6rgy Matolcsy, the governor of the Central Bank of Hungary is supporting the proposed crypto ban by the Russian Central Bank, expressing his agreement with the proposal to ban trading and mining of cryptocurrencies.<\/p>\n\n\n\n

This comes after the recent news<\/a> that the Russian central bank was in support of banning the trading and mining of cryptocurrencies. Matolcsy stated<\/a> that \"it is clear-cut that cryptocurrencies could service illegal activities and tend to build up financial pyramids.\" <\/p>\n\n\n\n

He also added that the \"growth and market value of cryptocurrencies is defined primarily by speculative demand for future growth, which creates bubbles.\u201d Calling for unity within the EU, Matolcsy wants the EU to \"act together\" in order to preempt the building up of \"new financial pyramids and financial bubbles.\"<\/p>\n\n\n\n

It seems that he is in support of banning it from the EU, but not worldwide. \"EU citizens and companies would be allowed to own cryptocurrencies abroad and regulators will track their holdings.\" <\/p>\n\n\n\n

As Matolscy stated above, the growth and market value of cryptocurrencies is defined by speculative demand for future growth, is the support for the ban just a way to see if other countries can manage and regulate cryptocurrencies before he makes a decision on what to do, or is it another technology that isn't fully understood?<\/p>\n","post_title":"Hungarian Central Bank In Support Of Russian Crypto Ban","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"hungarian-central-bank-in-support-of-russian-crypto-ban","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/will-russia-ban-bitcoin-likely-not-heres-why\/","post_modified":"2022-02-12 17:07:44","post_modified_gmt":"2022-02-12 06:07:44","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3453","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3439,"post_author":"1","post_date":"2022-02-10 21:26:57","post_date_gmt":"2022-02-10 10:26:57","post_content":"\n

Russians own over $214 Billion worth, or 12% of the total value<\/a> of cryptocurrencies worldwide, according to a Bloomberg report<\/a>. <\/p>\n\n\n\n

The data coming from the Kremlin and government officials out of Moscow was articulated from analyzing the IP addresses of the most prominent exchange users out of the country along with various other data points, as stated by two officials from Kremlin.<\/p>\n\n\n\n

The data comes after the Russian government had decided to regulate<\/a> rather than ban cryptocurrencies. The analysis will help articulate an overview of the market to assist in their regulations and should be taken with a grain of salt because of the anonymous nature of cryptocurrencies in general.<\/p>\n\n\n\n

\u201cRussians really do have a lot of money in cryptocurrency, but it\u2019s hard to value the true amount...many people are using cash, derivative instruments, or have two passports and can open a crypto wallet in someone else\u2019s name.\u201d<\/em><\/strong><\/p>Alexander Filatov, Co-Founder and CEO of TON Labs<\/a><\/cite><\/blockquote>\n\n\n\n

The statistics offer a snapshot of how widespread cryptocurrency investing has become in Russia being the\u00a0third-biggest<\/a>\u00a0Bitcoin miner in the world, as officials at the central bank push for a blanket ban on the local industry, while the government pursues a softer approach.((https:\/\/www.bloomberg.com\/news\/articles\/2022-02-01\/russia-values-local-crypto-market-at-200-billion-as-rules-near))\u00a0<\/p>\n","post_title":"Russians Own 12% Of The Worlds Cryptocurrencies","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"russians-own-12-of-the-worlds-cryptocurrencies","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/will-russia-ban-bitcoin-likely-not-heres-why\/","post_modified":"2023-04-30 21:39:59","post_modified_gmt":"2023-04-30 11:39:59","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3439","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3341,"post_author":"1","post_date":"2022-01-31 22:09:02","post_date_gmt":"2022-01-31 11:09:02","post_content":"\n

The Russian Government has started the development of a guide that will present limitations on cryptocurrencies.<\/p>\n\n\n\n

The roadmap presented by the Russian Government and approved by Deputy Chairman Dmitry Chernyshenko will work to ease the adoption of cryptocurrencies while halting financial instability. <\/p>\n\n\n\n

It will seek to provide a regulatory framework within the cryptocurrency markets having with an emphasis on violations and dangers within the industry.<\/p>\n\n\n\n

The roadmap goes against the recently proposed blanket ban on cryptocurrencies - as per the Russian Central Bank. Suggesting that crypto-related activities such as payments, exchange, and mining be banned, as it risks financial stability for the citizens of the nation.<\/p>\n\n\n\n

What Do Russia's Regulations Entail?<\/h2>\n\n\n\n

The National Bank, through this guide, advocates having an administrative and prohibitive system for cryptocurrencies. This change of position comes after Putin demanded showing up at an agreement in regards to this.<\/p>\n\n\n\n

Putin has recognized that, although cryptocurrencies convey a specific measure of hazard coming from its volatility, digital currency mining guarantees a ton of upper hand to the country.<\/p>\n\n\n\n

Since Russia enjoys the benefit of having the option to give cheap power, it will remain the third-biggest country for crypto mining.<\/p>\n\n\n\n

\"Regulation will only provide the transparency that will ensure the protection of citizens.\"<\/strong><\/em><\/p>Ivan Chebeskov, Head Of The Financial Policy Department<\/cite><\/blockquote>\n\n\n\n

<\/p>\n","post_title":"Will Russia Ban Bitcoin? Likely Not; Here's Why...","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"will-russia-ban-bitcoin-likely-not-heres-why","to_ping":"","pinged":"","post_modified":"2023-04-11 12:56:24","post_modified_gmt":"2023-04-11 02:56:24","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3341","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"};

1 2

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

Russia's invasion of Ukraine has sent markets into a whirl<\/a>. Although international markets managed to recover<\/a> mere days after the initial invasion, the most affected country is still Russia themselves.<\/p>\n\n\n\n

In response to the sanctions and bans imposed on Russia, Russia's central bank more than doubled its interest rates to a crazy 20%. This was done in an effort to \"maintain financial and price stability\" stated the central bank.<\/p>\n","post_title":"Bitcoin Overtakes The Russian Ruble In Value","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"bitcoin-overtakes-russian-ruble-in-value","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/crypto-markets-collapse-in-reaction-to-russias-war-on-ukraine\/\nhttps:\/\/www.thedistributed.co\/will-russian-banks-blocked-from-swift-turn-to-crypto\/","post_modified":"2023-04-11 12:53:33","post_modified_gmt":"2023-04-11 02:53:33","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3684","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

What Is SWIFT?<\/h2>\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

Will Russia Pivot To Crypto?<\/h2>\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":3608,"post_author":"1","post_date":"2022-02-26 13:08:41","post_date_gmt":"2022-02-26 02:08:41","post_content":"\n

Kuna<\/a>, a Ukrainian-based crypto exchange has seen a huge spike in transaction volume after the news of Russia's<\/a> invasion. <\/p>\n\n\n\n

Data<\/a> from CoinGecko<\/a> shows prior to the invasion trading volumes on Thursday were around $1.5M, nearing $5M on Friday. Although trading volume has since dropped to around $2M.<\/p>\n\n\n\n

\"\"
Source: CoinGecko<\/figcaption><\/figure>\n\n\n\n

Despite global markets taking a huge hit<\/a> after the news, Ukrainians were quick to react to the news in case of an economic crisis.<\/p>\n","post_title":"Kuna, A Ukrainian Crypto Exchange Has Tripled In Volume","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"kuna-a-ukrainian-crypto-exchange-has-tripled-in-volume","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/crypto-markets-collapse-in-reaction-to-russias-war-on-ukraine\/","post_modified":"2022-02-26 22:20:07","post_modified_gmt":"2022-02-26 11:20:07","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3608","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3591,"post_author":"1","post_date":"2022-02-26 00:05:26","post_date_gmt":"2022-02-25 13:05:26","post_content":"\n

Amidst the war between Russia<\/a> and Ukraine, thousands have shown their support through Bitcoin donations to the military.<\/p>\n\n\n\n

Come Back Alive<\/a> is a Kyiv-based non-profit. Funds were donated to their Bitcoin wallet<\/a> will finance military equipment like medical kits and armor for the Ukrainian soldiers.<\/p>\n\n\n\n

Fortune reported<\/a> that $400,000 was donated after news of Russia's invasion, according to data <\/a>from blockchain and crypto analytics firm, Elliptic. Hitting over $4,000,000 today, with several contributions of over $1,000 according to Come Back Alive's director, Taras Chmut. <\/p>\n\n\n\n

\"\"<\/figure>\n\n\n\n

After originally accepting FIAT on Go Fund Me, the page has been inaccessible since Thursday. It was against Go Fund Me policies, but they stated in a blog post<\/a> that they're using their services to support military funding. Every donation sent to the original page will be sent back.<\/p>\n\n\n\n

Cryptocurrency prices have dropped<\/a> dramatically due to fears over the war, despite this support in cryptocurrencies have become one of the main ways to support various causes.<\/p>\n","post_title":"$4M+ In Bitcoin Donated To Support Ukrainian Military","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"4m-in-bitcoin-donated-to-support-ukrainian-military","to_ping":"","pinged":"","post_modified":"2023-04-30 21:39:12","post_modified_gmt":"2023-04-30 11:39:12","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3591","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3581,"post_author":"1","post_date":"2022-02-24 19:01:39","post_date_gmt":"2022-02-24 08:01:39","post_content":"\n

After Russian President, Vladamir Putin announced<\/a> a \"special military operation\" in Ukraine global markets have tanked.<\/p>\n\n\n\n

The Russian army had launched several missiles aimed at Ukraine, targeting several cities including the capital, Kyiv.<\/p>\n\n\n\n

The Bitcoin (BTC<\/a>) price has dropped 7.26% and Ethereum (ETH<\/a>) dropped 9.48% today according to CoinMarketCap<\/a>. The overall crypto market cap has dropped 8.25% to $1.58 trillion.<\/p>\n\n\n\n

\"\"
Source: CoinMarketCap<\/figcaption><\/figure>\n\n\n\n

The Communities Reactions<\/h2>\n\n\n\n

Ethereum founder Vitalik Buterin, born and raised in Russia,\u00a0tweeted<\/a> in Russian that roughly translates to <\/p>\n\n\n\n

\u201cVery upset by Putin's decision to abandon the possibility of a peaceful solution to the dispute with Ukraine and go to war instead. This is a crime against the Ukrainian and Russian people. I want to wish everyone security, although I know that there will be no security. Glory to Ukraine.\"<\/p>\n\n\n\n

\u00a0He\u00a0added<\/a>\u00a0later in English: \u201cReminder: Ethereum is neutral, but I am not.\u201d<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/VitalikButerin\/status\/1496695424387801090?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1496695424387801090%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fcointelegraph.com%2Fnews%2Fbitcoin-plunges-as-putin-announces-special-military-operation-in-ukraine\n<\/div><\/figure>\n\n\n\n

Altcoin Sherpa,\u00a0an advisor to Atlas DEX tweeted<\/a>\u00a0that \"in these situations and it's not all about the market.\"<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/AltcoinSherpa\/status\/1496685587822256130?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1496685587822256130%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fcointelegraph.com%2Fnews%2Fbitcoin-plunges-as-putin-announces-special-military-operation-in-ukraine\n<\/div><\/figure>\n","post_title":"Crypto Markets Collapse In Reaction To Russias War On Ukraine","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"crypto-markets-collapse-in-reaction-to-russias-war-on-ukraine","to_ping":"","pinged":"","post_modified":"2022-02-24 19:05:05","post_modified_gmt":"2022-02-24 08:05:05","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3581","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3453,"post_author":"1","post_date":"2022-02-12 17:06:40","post_date_gmt":"2022-02-12 06:06:40","post_content":"\n

Gy\u00f6rgy Matolcsy, the governor of the Central Bank of Hungary is supporting the proposed crypto ban by the Russian Central Bank, expressing his agreement with the proposal to ban trading and mining of cryptocurrencies.<\/p>\n\n\n\n

This comes after the recent news<\/a> that the Russian central bank was in support of banning the trading and mining of cryptocurrencies. Matolcsy stated<\/a> that \"it is clear-cut that cryptocurrencies could service illegal activities and tend to build up financial pyramids.\" <\/p>\n\n\n\n

He also added that the \"growth and market value of cryptocurrencies is defined primarily by speculative demand for future growth, which creates bubbles.\u201d Calling for unity within the EU, Matolcsy wants the EU to \"act together\" in order to preempt the building up of \"new financial pyramids and financial bubbles.\"<\/p>\n\n\n\n

It seems that he is in support of banning it from the EU, but not worldwide. \"EU citizens and companies would be allowed to own cryptocurrencies abroad and regulators will track their holdings.\" <\/p>\n\n\n\n

As Matolscy stated above, the growth and market value of cryptocurrencies is defined by speculative demand for future growth, is the support for the ban just a way to see if other countries can manage and regulate cryptocurrencies before he makes a decision on what to do, or is it another technology that isn't fully understood?<\/p>\n","post_title":"Hungarian Central Bank In Support Of Russian Crypto Ban","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"hungarian-central-bank-in-support-of-russian-crypto-ban","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/will-russia-ban-bitcoin-likely-not-heres-why\/","post_modified":"2022-02-12 17:07:44","post_modified_gmt":"2022-02-12 06:07:44","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3453","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3439,"post_author":"1","post_date":"2022-02-10 21:26:57","post_date_gmt":"2022-02-10 10:26:57","post_content":"\n

Russians own over $214 Billion worth, or 12% of the total value<\/a> of cryptocurrencies worldwide, according to a Bloomberg report<\/a>. <\/p>\n\n\n\n

The data coming from the Kremlin and government officials out of Moscow was articulated from analyzing the IP addresses of the most prominent exchange users out of the country along with various other data points, as stated by two officials from Kremlin.<\/p>\n\n\n\n

The data comes after the Russian government had decided to regulate<\/a> rather than ban cryptocurrencies. The analysis will help articulate an overview of the market to assist in their regulations and should be taken with a grain of salt because of the anonymous nature of cryptocurrencies in general.<\/p>\n\n\n\n

\u201cRussians really do have a lot of money in cryptocurrency, but it\u2019s hard to value the true amount...many people are using cash, derivative instruments, or have two passports and can open a crypto wallet in someone else\u2019s name.\u201d<\/em><\/strong><\/p>Alexander Filatov, Co-Founder and CEO of TON Labs<\/a><\/cite><\/blockquote>\n\n\n\n

The statistics offer a snapshot of how widespread cryptocurrency investing has become in Russia being the\u00a0third-biggest<\/a>\u00a0Bitcoin miner in the world, as officials at the central bank push for a blanket ban on the local industry, while the government pursues a softer approach.((https:\/\/www.bloomberg.com\/news\/articles\/2022-02-01\/russia-values-local-crypto-market-at-200-billion-as-rules-near))\u00a0<\/p>\n","post_title":"Russians Own 12% Of The Worlds Cryptocurrencies","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"russians-own-12-of-the-worlds-cryptocurrencies","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/will-russia-ban-bitcoin-likely-not-heres-why\/","post_modified":"2023-04-30 21:39:59","post_modified_gmt":"2023-04-30 11:39:59","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3439","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3341,"post_author":"1","post_date":"2022-01-31 22:09:02","post_date_gmt":"2022-01-31 11:09:02","post_content":"\n

The Russian Government has started the development of a guide that will present limitations on cryptocurrencies.<\/p>\n\n\n\n

The roadmap presented by the Russian Government and approved by Deputy Chairman Dmitry Chernyshenko will work to ease the adoption of cryptocurrencies while halting financial instability. <\/p>\n\n\n\n

It will seek to provide a regulatory framework within the cryptocurrency markets having with an emphasis on violations and dangers within the industry.<\/p>\n\n\n\n

The roadmap goes against the recently proposed blanket ban on cryptocurrencies - as per the Russian Central Bank. Suggesting that crypto-related activities such as payments, exchange, and mining be banned, as it risks financial stability for the citizens of the nation.<\/p>\n\n\n\n

What Do Russia's Regulations Entail?<\/h2>\n\n\n\n

The National Bank, through this guide, advocates having an administrative and prohibitive system for cryptocurrencies. This change of position comes after Putin demanded showing up at an agreement in regards to this.<\/p>\n\n\n\n

Putin has recognized that, although cryptocurrencies convey a specific measure of hazard coming from its volatility, digital currency mining guarantees a ton of upper hand to the country.<\/p>\n\n\n\n

Since Russia enjoys the benefit of having the option to give cheap power, it will remain the third-biggest country for crypto mining.<\/p>\n\n\n\n

\"Regulation will only provide the transparency that will ensure the protection of citizens.\"<\/strong><\/em><\/p>Ivan Chebeskov, Head Of The Financial Policy Department<\/cite><\/blockquote>\n\n\n\n

<\/p>\n","post_title":"Will Russia Ban Bitcoin? Likely Not; Here's Why...","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"will-russia-ban-bitcoin-likely-not-heres-why","to_ping":"","pinged":"","post_modified":"2023-04-11 12:56:24","post_modified_gmt":"2023-04-11 02:56:24","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3341","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"};

1 2

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

The Impact Of War On Currency<\/h2>\n\n\n\n

Russia's invasion of Ukraine has sent markets into a whirl<\/a>. Although international markets managed to recover<\/a> mere days after the initial invasion, the most affected country is still Russia themselves.<\/p>\n\n\n\n

In response to the sanctions and bans imposed on Russia, Russia's central bank more than doubled its interest rates to a crazy 20%. This was done in an effort to \"maintain financial and price stability\" stated the central bank.<\/p>\n","post_title":"Bitcoin Overtakes The Russian Ruble In Value","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"bitcoin-overtakes-russian-ruble-in-value","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/crypto-markets-collapse-in-reaction-to-russias-war-on-ukraine\/\nhttps:\/\/www.thedistributed.co\/will-russian-banks-blocked-from-swift-turn-to-crypto\/","post_modified":"2023-04-11 12:53:33","post_modified_gmt":"2023-04-11 02:53:33","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3684","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

What Is SWIFT?<\/h2>\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

Will Russia Pivot To Crypto?<\/h2>\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":3608,"post_author":"1","post_date":"2022-02-26 13:08:41","post_date_gmt":"2022-02-26 02:08:41","post_content":"\n

Kuna<\/a>, a Ukrainian-based crypto exchange has seen a huge spike in transaction volume after the news of Russia's<\/a> invasion. <\/p>\n\n\n\n

Data<\/a> from CoinGecko<\/a> shows prior to the invasion trading volumes on Thursday were around $1.5M, nearing $5M on Friday. Although trading volume has since dropped to around $2M.<\/p>\n\n\n\n

\"\"
Source: CoinGecko<\/figcaption><\/figure>\n\n\n\n

Despite global markets taking a huge hit<\/a> after the news, Ukrainians were quick to react to the news in case of an economic crisis.<\/p>\n","post_title":"Kuna, A Ukrainian Crypto Exchange Has Tripled In Volume","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"kuna-a-ukrainian-crypto-exchange-has-tripled-in-volume","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/crypto-markets-collapse-in-reaction-to-russias-war-on-ukraine\/","post_modified":"2022-02-26 22:20:07","post_modified_gmt":"2022-02-26 11:20:07","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3608","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3591,"post_author":"1","post_date":"2022-02-26 00:05:26","post_date_gmt":"2022-02-25 13:05:26","post_content":"\n

Amidst the war between Russia<\/a> and Ukraine, thousands have shown their support through Bitcoin donations to the military.<\/p>\n\n\n\n

Come Back Alive<\/a> is a Kyiv-based non-profit. Funds were donated to their Bitcoin wallet<\/a> will finance military equipment like medical kits and armor for the Ukrainian soldiers.<\/p>\n\n\n\n

Fortune reported<\/a> that $400,000 was donated after news of Russia's invasion, according to data <\/a>from blockchain and crypto analytics firm, Elliptic. Hitting over $4,000,000 today, with several contributions of over $1,000 according to Come Back Alive's director, Taras Chmut. <\/p>\n\n\n\n

\"\"<\/figure>\n\n\n\n

After originally accepting FIAT on Go Fund Me, the page has been inaccessible since Thursday. It was against Go Fund Me policies, but they stated in a blog post<\/a> that they're using their services to support military funding. Every donation sent to the original page will be sent back.<\/p>\n\n\n\n

Cryptocurrency prices have dropped<\/a> dramatically due to fears over the war, despite this support in cryptocurrencies have become one of the main ways to support various causes.<\/p>\n","post_title":"$4M+ In Bitcoin Donated To Support Ukrainian Military","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"4m-in-bitcoin-donated-to-support-ukrainian-military","to_ping":"","pinged":"","post_modified":"2023-04-30 21:39:12","post_modified_gmt":"2023-04-30 11:39:12","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3591","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3581,"post_author":"1","post_date":"2022-02-24 19:01:39","post_date_gmt":"2022-02-24 08:01:39","post_content":"\n

After Russian President, Vladamir Putin announced<\/a> a \"special military operation\" in Ukraine global markets have tanked.<\/p>\n\n\n\n

The Russian army had launched several missiles aimed at Ukraine, targeting several cities including the capital, Kyiv.<\/p>\n\n\n\n

The Bitcoin (BTC<\/a>) price has dropped 7.26% and Ethereum (ETH<\/a>) dropped 9.48% today according to CoinMarketCap<\/a>. The overall crypto market cap has dropped 8.25% to $1.58 trillion.<\/p>\n\n\n\n

\"\"
Source: CoinMarketCap<\/figcaption><\/figure>\n\n\n\n

The Communities Reactions<\/h2>\n\n\n\n

Ethereum founder Vitalik Buterin, born and raised in Russia,\u00a0tweeted<\/a> in Russian that roughly translates to <\/p>\n\n\n\n

\u201cVery upset by Putin's decision to abandon the possibility of a peaceful solution to the dispute with Ukraine and go to war instead. This is a crime against the Ukrainian and Russian people. I want to wish everyone security, although I know that there will be no security. Glory to Ukraine.\"<\/p>\n\n\n\n

\u00a0He\u00a0added<\/a>\u00a0later in English: \u201cReminder: Ethereum is neutral, but I am not.\u201d<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/VitalikButerin\/status\/1496695424387801090?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1496695424387801090%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fcointelegraph.com%2Fnews%2Fbitcoin-plunges-as-putin-announces-special-military-operation-in-ukraine\n<\/div><\/figure>\n\n\n\n

Altcoin Sherpa,\u00a0an advisor to Atlas DEX tweeted<\/a>\u00a0that \"in these situations and it's not all about the market.\"<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/AltcoinSherpa\/status\/1496685587822256130?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1496685587822256130%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fcointelegraph.com%2Fnews%2Fbitcoin-plunges-as-putin-announces-special-military-operation-in-ukraine\n<\/div><\/figure>\n","post_title":"Crypto Markets Collapse In Reaction To Russias War On Ukraine","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"crypto-markets-collapse-in-reaction-to-russias-war-on-ukraine","to_ping":"","pinged":"","post_modified":"2022-02-24 19:05:05","post_modified_gmt":"2022-02-24 08:05:05","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3581","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3453,"post_author":"1","post_date":"2022-02-12 17:06:40","post_date_gmt":"2022-02-12 06:06:40","post_content":"\n

Gy\u00f6rgy Matolcsy, the governor of the Central Bank of Hungary is supporting the proposed crypto ban by the Russian Central Bank, expressing his agreement with the proposal to ban trading and mining of cryptocurrencies.<\/p>\n\n\n\n

This comes after the recent news<\/a> that the Russian central bank was in support of banning the trading and mining of cryptocurrencies. Matolcsy stated<\/a> that \"it is clear-cut that cryptocurrencies could service illegal activities and tend to build up financial pyramids.\" <\/p>\n\n\n\n

He also added that the \"growth and market value of cryptocurrencies is defined primarily by speculative demand for future growth, which creates bubbles.\u201d Calling for unity within the EU, Matolcsy wants the EU to \"act together\" in order to preempt the building up of \"new financial pyramids and financial bubbles.\"<\/p>\n\n\n\n

It seems that he is in support of banning it from the EU, but not worldwide. \"EU citizens and companies would be allowed to own cryptocurrencies abroad and regulators will track their holdings.\" <\/p>\n\n\n\n

As Matolscy stated above, the growth and market value of cryptocurrencies is defined by speculative demand for future growth, is the support for the ban just a way to see if other countries can manage and regulate cryptocurrencies before he makes a decision on what to do, or is it another technology that isn't fully understood?<\/p>\n","post_title":"Hungarian Central Bank In Support Of Russian Crypto Ban","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"hungarian-central-bank-in-support-of-russian-crypto-ban","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/will-russia-ban-bitcoin-likely-not-heres-why\/","post_modified":"2022-02-12 17:07:44","post_modified_gmt":"2022-02-12 06:07:44","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3453","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3439,"post_author":"1","post_date":"2022-02-10 21:26:57","post_date_gmt":"2022-02-10 10:26:57","post_content":"\n

Russians own over $214 Billion worth, or 12% of the total value<\/a> of cryptocurrencies worldwide, according to a Bloomberg report<\/a>. <\/p>\n\n\n\n

The data coming from the Kremlin and government officials out of Moscow was articulated from analyzing the IP addresses of the most prominent exchange users out of the country along with various other data points, as stated by two officials from Kremlin.<\/p>\n\n\n\n

The data comes after the Russian government had decided to regulate<\/a> rather than ban cryptocurrencies. The analysis will help articulate an overview of the market to assist in their regulations and should be taken with a grain of salt because of the anonymous nature of cryptocurrencies in general.<\/p>\n\n\n\n

\u201cRussians really do have a lot of money in cryptocurrency, but it\u2019s hard to value the true amount...many people are using cash, derivative instruments, or have two passports and can open a crypto wallet in someone else\u2019s name.\u201d<\/em><\/strong><\/p>Alexander Filatov, Co-Founder and CEO of TON Labs<\/a><\/cite><\/blockquote>\n\n\n\n

The statistics offer a snapshot of how widespread cryptocurrency investing has become in Russia being the\u00a0third-biggest<\/a>\u00a0Bitcoin miner in the world, as officials at the central bank push for a blanket ban on the local industry, while the government pursues a softer approach.((https:\/\/www.bloomberg.com\/news\/articles\/2022-02-01\/russia-values-local-crypto-market-at-200-billion-as-rules-near))\u00a0<\/p>\n","post_title":"Russians Own 12% Of The Worlds Cryptocurrencies","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"russians-own-12-of-the-worlds-cryptocurrencies","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/will-russia-ban-bitcoin-likely-not-heres-why\/","post_modified":"2023-04-30 21:39:59","post_modified_gmt":"2023-04-30 11:39:59","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3439","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3341,"post_author":"1","post_date":"2022-01-31 22:09:02","post_date_gmt":"2022-01-31 11:09:02","post_content":"\n

The Russian Government has started the development of a guide that will present limitations on cryptocurrencies.<\/p>\n\n\n\n

The roadmap presented by the Russian Government and approved by Deputy Chairman Dmitry Chernyshenko will work to ease the adoption of cryptocurrencies while halting financial instability. <\/p>\n\n\n\n

It will seek to provide a regulatory framework within the cryptocurrency markets having with an emphasis on violations and dangers within the industry.<\/p>\n\n\n\n

The roadmap goes against the recently proposed blanket ban on cryptocurrencies - as per the Russian Central Bank. Suggesting that crypto-related activities such as payments, exchange, and mining be banned, as it risks financial stability for the citizens of the nation.<\/p>\n\n\n\n

What Do Russia's Regulations Entail?<\/h2>\n\n\n\n

The National Bank, through this guide, advocates having an administrative and prohibitive system for cryptocurrencies. This change of position comes after Putin demanded showing up at an agreement in regards to this.<\/p>\n\n\n\n

Putin has recognized that, although cryptocurrencies convey a specific measure of hazard coming from its volatility, digital currency mining guarantees a ton of upper hand to the country.<\/p>\n\n\n\n

Since Russia enjoys the benefit of having the option to give cheap power, it will remain the third-biggest country for crypto mining.<\/p>\n\n\n\n

\"Regulation will only provide the transparency that will ensure the protection of citizens.\"<\/strong><\/em><\/p>Ivan Chebeskov, Head Of The Financial Policy Department<\/cite><\/blockquote>\n\n\n\n

<\/p>\n","post_title":"Will Russia Ban Bitcoin? Likely Not; Here's Why...","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"will-russia-ban-bitcoin-likely-not-heres-why","to_ping":"","pinged":"","post_modified":"2023-04-11 12:56:24","post_modified_gmt":"2023-04-11 02:56:24","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3341","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"};

1 2

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n
\"\"
Image: Xe<\/figcaption><\/figure>\n\n\n\n

The Impact Of War On Currency<\/h2>\n\n\n\n

Russia's invasion of Ukraine has sent markets into a whirl<\/a>. Although international markets managed to recover<\/a> mere days after the initial invasion, the most affected country is still Russia themselves.<\/p>\n\n\n\n

In response to the sanctions and bans imposed on Russia, Russia's central bank more than doubled its interest rates to a crazy 20%. This was done in an effort to \"maintain financial and price stability\" stated the central bank.<\/p>\n","post_title":"Bitcoin Overtakes The Russian Ruble In Value","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"bitcoin-overtakes-russian-ruble-in-value","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/crypto-markets-collapse-in-reaction-to-russias-war-on-ukraine\/\nhttps:\/\/www.thedistributed.co\/will-russian-banks-blocked-from-swift-turn-to-crypto\/","post_modified":"2023-04-11 12:53:33","post_modified_gmt":"2023-04-11 02:53:33","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3684","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

What Is SWIFT?<\/h2>\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

Will Russia Pivot To Crypto?<\/h2>\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":3608,"post_author":"1","post_date":"2022-02-26 13:08:41","post_date_gmt":"2022-02-26 02:08:41","post_content":"\n

Kuna<\/a>, a Ukrainian-based crypto exchange has seen a huge spike in transaction volume after the news of Russia's<\/a> invasion. <\/p>\n\n\n\n

Data<\/a> from CoinGecko<\/a> shows prior to the invasion trading volumes on Thursday were around $1.5M, nearing $5M on Friday. Although trading volume has since dropped to around $2M.<\/p>\n\n\n\n

\"\"
Source: CoinGecko<\/figcaption><\/figure>\n\n\n\n

Despite global markets taking a huge hit<\/a> after the news, Ukrainians were quick to react to the news in case of an economic crisis.<\/p>\n","post_title":"Kuna, A Ukrainian Crypto Exchange Has Tripled In Volume","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"kuna-a-ukrainian-crypto-exchange-has-tripled-in-volume","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/crypto-markets-collapse-in-reaction-to-russias-war-on-ukraine\/","post_modified":"2022-02-26 22:20:07","post_modified_gmt":"2022-02-26 11:20:07","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3608","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3591,"post_author":"1","post_date":"2022-02-26 00:05:26","post_date_gmt":"2022-02-25 13:05:26","post_content":"\n

Amidst the war between Russia<\/a> and Ukraine, thousands have shown their support through Bitcoin donations to the military.<\/p>\n\n\n\n

Come Back Alive<\/a> is a Kyiv-based non-profit. Funds were donated to their Bitcoin wallet<\/a> will finance military equipment like medical kits and armor for the Ukrainian soldiers.<\/p>\n\n\n\n

Fortune reported<\/a> that $400,000 was donated after news of Russia's invasion, according to data <\/a>from blockchain and crypto analytics firm, Elliptic. Hitting over $4,000,000 today, with several contributions of over $1,000 according to Come Back Alive's director, Taras Chmut. <\/p>\n\n\n\n

\"\"<\/figure>\n\n\n\n

After originally accepting FIAT on Go Fund Me, the page has been inaccessible since Thursday. It was against Go Fund Me policies, but they stated in a blog post<\/a> that they're using their services to support military funding. Every donation sent to the original page will be sent back.<\/p>\n\n\n\n

Cryptocurrency prices have dropped<\/a> dramatically due to fears over the war, despite this support in cryptocurrencies have become one of the main ways to support various causes.<\/p>\n","post_title":"$4M+ In Bitcoin Donated To Support Ukrainian Military","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"4m-in-bitcoin-donated-to-support-ukrainian-military","to_ping":"","pinged":"","post_modified":"2023-04-30 21:39:12","post_modified_gmt":"2023-04-30 11:39:12","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3591","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3581,"post_author":"1","post_date":"2022-02-24 19:01:39","post_date_gmt":"2022-02-24 08:01:39","post_content":"\n

After Russian President, Vladamir Putin announced<\/a> a \"special military operation\" in Ukraine global markets have tanked.<\/p>\n\n\n\n

The Russian army had launched several missiles aimed at Ukraine, targeting several cities including the capital, Kyiv.<\/p>\n\n\n\n

The Bitcoin (BTC<\/a>) price has dropped 7.26% and Ethereum (ETH<\/a>) dropped 9.48% today according to CoinMarketCap<\/a>. The overall crypto market cap has dropped 8.25% to $1.58 trillion.<\/p>\n\n\n\n

\"\"
Source: CoinMarketCap<\/figcaption><\/figure>\n\n\n\n

The Communities Reactions<\/h2>\n\n\n\n

Ethereum founder Vitalik Buterin, born and raised in Russia,\u00a0tweeted<\/a> in Russian that roughly translates to <\/p>\n\n\n\n

\u201cVery upset by Putin's decision to abandon the possibility of a peaceful solution to the dispute with Ukraine and go to war instead. This is a crime against the Ukrainian and Russian people. I want to wish everyone security, although I know that there will be no security. Glory to Ukraine.\"<\/p>\n\n\n\n

\u00a0He\u00a0added<\/a>\u00a0later in English: \u201cReminder: Ethereum is neutral, but I am not.\u201d<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/VitalikButerin\/status\/1496695424387801090?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1496695424387801090%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fcointelegraph.com%2Fnews%2Fbitcoin-plunges-as-putin-announces-special-military-operation-in-ukraine\n<\/div><\/figure>\n\n\n\n

Altcoin Sherpa,\u00a0an advisor to Atlas DEX tweeted<\/a>\u00a0that \"in these situations and it's not all about the market.\"<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/AltcoinSherpa\/status\/1496685587822256130?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1496685587822256130%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fcointelegraph.com%2Fnews%2Fbitcoin-plunges-as-putin-announces-special-military-operation-in-ukraine\n<\/div><\/figure>\n","post_title":"Crypto Markets Collapse In Reaction To Russias War On Ukraine","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"crypto-markets-collapse-in-reaction-to-russias-war-on-ukraine","to_ping":"","pinged":"","post_modified":"2022-02-24 19:05:05","post_modified_gmt":"2022-02-24 08:05:05","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3581","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3453,"post_author":"1","post_date":"2022-02-12 17:06:40","post_date_gmt":"2022-02-12 06:06:40","post_content":"\n

Gy\u00f6rgy Matolcsy, the governor of the Central Bank of Hungary is supporting the proposed crypto ban by the Russian Central Bank, expressing his agreement with the proposal to ban trading and mining of cryptocurrencies.<\/p>\n\n\n\n

This comes after the recent news<\/a> that the Russian central bank was in support of banning the trading and mining of cryptocurrencies. Matolcsy stated<\/a> that \"it is clear-cut that cryptocurrencies could service illegal activities and tend to build up financial pyramids.\" <\/p>\n\n\n\n

He also added that the \"growth and market value of cryptocurrencies is defined primarily by speculative demand for future growth, which creates bubbles.\u201d Calling for unity within the EU, Matolcsy wants the EU to \"act together\" in order to preempt the building up of \"new financial pyramids and financial bubbles.\"<\/p>\n\n\n\n

It seems that he is in support of banning it from the EU, but not worldwide. \"EU citizens and companies would be allowed to own cryptocurrencies abroad and regulators will track their holdings.\" <\/p>\n\n\n\n

As Matolscy stated above, the growth and market value of cryptocurrencies is defined by speculative demand for future growth, is the support for the ban just a way to see if other countries can manage and regulate cryptocurrencies before he makes a decision on what to do, or is it another technology that isn't fully understood?<\/p>\n","post_title":"Hungarian Central Bank In Support Of Russian Crypto Ban","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"hungarian-central-bank-in-support-of-russian-crypto-ban","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/will-russia-ban-bitcoin-likely-not-heres-why\/","post_modified":"2022-02-12 17:07:44","post_modified_gmt":"2022-02-12 06:07:44","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3453","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3439,"post_author":"1","post_date":"2022-02-10 21:26:57","post_date_gmt":"2022-02-10 10:26:57","post_content":"\n

Russians own over $214 Billion worth, or 12% of the total value<\/a> of cryptocurrencies worldwide, according to a Bloomberg report<\/a>. <\/p>\n\n\n\n

The data coming from the Kremlin and government officials out of Moscow was articulated from analyzing the IP addresses of the most prominent exchange users out of the country along with various other data points, as stated by two officials from Kremlin.<\/p>\n\n\n\n

The data comes after the Russian government had decided to regulate<\/a> rather than ban cryptocurrencies. The analysis will help articulate an overview of the market to assist in their regulations and should be taken with a grain of salt because of the anonymous nature of cryptocurrencies in general.<\/p>\n\n\n\n

\u201cRussians really do have a lot of money in cryptocurrency, but it\u2019s hard to value the true amount...many people are using cash, derivative instruments, or have two passports and can open a crypto wallet in someone else\u2019s name.\u201d<\/em><\/strong><\/p>Alexander Filatov, Co-Founder and CEO of TON Labs<\/a><\/cite><\/blockquote>\n\n\n\n

The statistics offer a snapshot of how widespread cryptocurrency investing has become in Russia being the\u00a0third-biggest<\/a>\u00a0Bitcoin miner in the world, as officials at the central bank push for a blanket ban on the local industry, while the government pursues a softer approach.((https:\/\/www.bloomberg.com\/news\/articles\/2022-02-01\/russia-values-local-crypto-market-at-200-billion-as-rules-near))\u00a0<\/p>\n","post_title":"Russians Own 12% Of The Worlds Cryptocurrencies","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"russians-own-12-of-the-worlds-cryptocurrencies","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/will-russia-ban-bitcoin-likely-not-heres-why\/","post_modified":"2023-04-30 21:39:59","post_modified_gmt":"2023-04-30 11:39:59","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3439","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3341,"post_author":"1","post_date":"2022-01-31 22:09:02","post_date_gmt":"2022-01-31 11:09:02","post_content":"\n

The Russian Government has started the development of a guide that will present limitations on cryptocurrencies.<\/p>\n\n\n\n

The roadmap presented by the Russian Government and approved by Deputy Chairman Dmitry Chernyshenko will work to ease the adoption of cryptocurrencies while halting financial instability. <\/p>\n\n\n\n

It will seek to provide a regulatory framework within the cryptocurrency markets having with an emphasis on violations and dangers within the industry.<\/p>\n\n\n\n

The roadmap goes against the recently proposed blanket ban on cryptocurrencies - as per the Russian Central Bank. Suggesting that crypto-related activities such as payments, exchange, and mining be banned, as it risks financial stability for the citizens of the nation.<\/p>\n\n\n\n

What Do Russia's Regulations Entail?<\/h2>\n\n\n\n

The National Bank, through this guide, advocates having an administrative and prohibitive system for cryptocurrencies. This change of position comes after Putin demanded showing up at an agreement in regards to this.<\/p>\n\n\n\n

Putin has recognized that, although cryptocurrencies convey a specific measure of hazard coming from its volatility, digital currency mining guarantees a ton of upper hand to the country.<\/p>\n\n\n\n

Since Russia enjoys the benefit of having the option to give cheap power, it will remain the third-biggest country for crypto mining.<\/p>\n\n\n\n

\"Regulation will only provide the transparency that will ensure the protection of citizens.\"<\/strong><\/em><\/p>Ivan Chebeskov, Head Of The Financial Policy Department<\/cite><\/blockquote>\n\n\n\n

<\/p>\n","post_title":"Will Russia Ban Bitcoin? Likely Not; Here's Why...","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"will-russia-ban-bitcoin-likely-not-heres-why","to_ping":"","pinged":"","post_modified":"2023-04-11 12:56:24","post_modified_gmt":"2023-04-11 02:56:24","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3341","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"};

1 2

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

The Russian Ruble has hit a 30 year low, losing over 30% of its value in less than a week, 1 Russian Ruble is worth a mere US$0.01.<\/p>\n\n\n\n

\"\"
Image: Xe<\/figcaption><\/figure>\n\n\n\n

The Impact Of War On Currency<\/h2>\n\n\n\n

Russia's invasion of Ukraine has sent markets into a whirl<\/a>. Although international markets managed to recover<\/a> mere days after the initial invasion, the most affected country is still Russia themselves.<\/p>\n\n\n\n

In response to the sanctions and bans imposed on Russia, Russia's central bank more than doubled its interest rates to a crazy 20%. This was done in an effort to \"maintain financial and price stability\" stated the central bank.<\/p>\n","post_title":"Bitcoin Overtakes The Russian Ruble In Value","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"bitcoin-overtakes-russian-ruble-in-value","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/crypto-markets-collapse-in-reaction-to-russias-war-on-ukraine\/\nhttps:\/\/www.thedistributed.co\/will-russian-banks-blocked-from-swift-turn-to-crypto\/","post_modified":"2023-04-11 12:53:33","post_modified_gmt":"2023-04-11 02:53:33","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3684","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

What Is SWIFT?<\/h2>\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

Will Russia Pivot To Crypto?<\/h2>\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":3608,"post_author":"1","post_date":"2022-02-26 13:08:41","post_date_gmt":"2022-02-26 02:08:41","post_content":"\n

Kuna<\/a>, a Ukrainian-based crypto exchange has seen a huge spike in transaction volume after the news of Russia's<\/a> invasion. <\/p>\n\n\n\n

Data<\/a> from CoinGecko<\/a> shows prior to the invasion trading volumes on Thursday were around $1.5M, nearing $5M on Friday. Although trading volume has since dropped to around $2M.<\/p>\n\n\n\n

\"\"
Source: CoinGecko<\/figcaption><\/figure>\n\n\n\n

Despite global markets taking a huge hit<\/a> after the news, Ukrainians were quick to react to the news in case of an economic crisis.<\/p>\n","post_title":"Kuna, A Ukrainian Crypto Exchange Has Tripled In Volume","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"kuna-a-ukrainian-crypto-exchange-has-tripled-in-volume","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/crypto-markets-collapse-in-reaction-to-russias-war-on-ukraine\/","post_modified":"2022-02-26 22:20:07","post_modified_gmt":"2022-02-26 11:20:07","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3608","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3591,"post_author":"1","post_date":"2022-02-26 00:05:26","post_date_gmt":"2022-02-25 13:05:26","post_content":"\n

Amidst the war between Russia<\/a> and Ukraine, thousands have shown their support through Bitcoin donations to the military.<\/p>\n\n\n\n

Come Back Alive<\/a> is a Kyiv-based non-profit. Funds were donated to their Bitcoin wallet<\/a> will finance military equipment like medical kits and armor for the Ukrainian soldiers.<\/p>\n\n\n\n

Fortune reported<\/a> that $400,000 was donated after news of Russia's invasion, according to data <\/a>from blockchain and crypto analytics firm, Elliptic. Hitting over $4,000,000 today, with several contributions of over $1,000 according to Come Back Alive's director, Taras Chmut. <\/p>\n\n\n\n

\"\"<\/figure>\n\n\n\n

After originally accepting FIAT on Go Fund Me, the page has been inaccessible since Thursday. It was against Go Fund Me policies, but they stated in a blog post<\/a> that they're using their services to support military funding. Every donation sent to the original page will be sent back.<\/p>\n\n\n\n

Cryptocurrency prices have dropped<\/a> dramatically due to fears over the war, despite this support in cryptocurrencies have become one of the main ways to support various causes.<\/p>\n","post_title":"$4M+ In Bitcoin Donated To Support Ukrainian Military","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"4m-in-bitcoin-donated-to-support-ukrainian-military","to_ping":"","pinged":"","post_modified":"2023-04-30 21:39:12","post_modified_gmt":"2023-04-30 11:39:12","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3591","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3581,"post_author":"1","post_date":"2022-02-24 19:01:39","post_date_gmt":"2022-02-24 08:01:39","post_content":"\n

After Russian President, Vladamir Putin announced<\/a> a \"special military operation\" in Ukraine global markets have tanked.<\/p>\n\n\n\n

The Russian army had launched several missiles aimed at Ukraine, targeting several cities including the capital, Kyiv.<\/p>\n\n\n\n

The Bitcoin (BTC<\/a>) price has dropped 7.26% and Ethereum (ETH<\/a>) dropped 9.48% today according to CoinMarketCap<\/a>. The overall crypto market cap has dropped 8.25% to $1.58 trillion.<\/p>\n\n\n\n

\"\"
Source: CoinMarketCap<\/figcaption><\/figure>\n\n\n\n

The Communities Reactions<\/h2>\n\n\n\n

Ethereum founder Vitalik Buterin, born and raised in Russia,\u00a0tweeted<\/a> in Russian that roughly translates to <\/p>\n\n\n\n

\u201cVery upset by Putin's decision to abandon the possibility of a peaceful solution to the dispute with Ukraine and go to war instead. This is a crime against the Ukrainian and Russian people. I want to wish everyone security, although I know that there will be no security. Glory to Ukraine.\"<\/p>\n\n\n\n

\u00a0He\u00a0added<\/a>\u00a0later in English: \u201cReminder: Ethereum is neutral, but I am not.\u201d<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/VitalikButerin\/status\/1496695424387801090?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1496695424387801090%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fcointelegraph.com%2Fnews%2Fbitcoin-plunges-as-putin-announces-special-military-operation-in-ukraine\n<\/div><\/figure>\n\n\n\n

Altcoin Sherpa,\u00a0an advisor to Atlas DEX tweeted<\/a>\u00a0that \"in these situations and it's not all about the market.\"<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/AltcoinSherpa\/status\/1496685587822256130?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1496685587822256130%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fcointelegraph.com%2Fnews%2Fbitcoin-plunges-as-putin-announces-special-military-operation-in-ukraine\n<\/div><\/figure>\n","post_title":"Crypto Markets Collapse In Reaction To Russias War On Ukraine","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"crypto-markets-collapse-in-reaction-to-russias-war-on-ukraine","to_ping":"","pinged":"","post_modified":"2022-02-24 19:05:05","post_modified_gmt":"2022-02-24 08:05:05","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3581","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3453,"post_author":"1","post_date":"2022-02-12 17:06:40","post_date_gmt":"2022-02-12 06:06:40","post_content":"\n

Gy\u00f6rgy Matolcsy, the governor of the Central Bank of Hungary is supporting the proposed crypto ban by the Russian Central Bank, expressing his agreement with the proposal to ban trading and mining of cryptocurrencies.<\/p>\n\n\n\n

This comes after the recent news<\/a> that the Russian central bank was in support of banning the trading and mining of cryptocurrencies. Matolcsy stated<\/a> that \"it is clear-cut that cryptocurrencies could service illegal activities and tend to build up financial pyramids.\" <\/p>\n\n\n\n

He also added that the \"growth and market value of cryptocurrencies is defined primarily by speculative demand for future growth, which creates bubbles.\u201d Calling for unity within the EU, Matolcsy wants the EU to \"act together\" in order to preempt the building up of \"new financial pyramids and financial bubbles.\"<\/p>\n\n\n\n

It seems that he is in support of banning it from the EU, but not worldwide. \"EU citizens and companies would be allowed to own cryptocurrencies abroad and regulators will track their holdings.\" <\/p>\n\n\n\n

As Matolscy stated above, the growth and market value of cryptocurrencies is defined by speculative demand for future growth, is the support for the ban just a way to see if other countries can manage and regulate cryptocurrencies before he makes a decision on what to do, or is it another technology that isn't fully understood?<\/p>\n","post_title":"Hungarian Central Bank In Support Of Russian Crypto Ban","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"hungarian-central-bank-in-support-of-russian-crypto-ban","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/will-russia-ban-bitcoin-likely-not-heres-why\/","post_modified":"2022-02-12 17:07:44","post_modified_gmt":"2022-02-12 06:07:44","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3453","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3439,"post_author":"1","post_date":"2022-02-10 21:26:57","post_date_gmt":"2022-02-10 10:26:57","post_content":"\n

Russians own over $214 Billion worth, or 12% of the total value<\/a> of cryptocurrencies worldwide, according to a Bloomberg report<\/a>. <\/p>\n\n\n\n

The data coming from the Kremlin and government officials out of Moscow was articulated from analyzing the IP addresses of the most prominent exchange users out of the country along with various other data points, as stated by two officials from Kremlin.<\/p>\n\n\n\n

The data comes after the Russian government had decided to regulate<\/a> rather than ban cryptocurrencies. The analysis will help articulate an overview of the market to assist in their regulations and should be taken with a grain of salt because of the anonymous nature of cryptocurrencies in general.<\/p>\n\n\n\n

\u201cRussians really do have a lot of money in cryptocurrency, but it\u2019s hard to value the true amount...many people are using cash, derivative instruments, or have two passports and can open a crypto wallet in someone else\u2019s name.\u201d<\/em><\/strong><\/p>Alexander Filatov, Co-Founder and CEO of TON Labs<\/a><\/cite><\/blockquote>\n\n\n\n

The statistics offer a snapshot of how widespread cryptocurrency investing has become in Russia being the\u00a0third-biggest<\/a>\u00a0Bitcoin miner in the world, as officials at the central bank push for a blanket ban on the local industry, while the government pursues a softer approach.((https:\/\/www.bloomberg.com\/news\/articles\/2022-02-01\/russia-values-local-crypto-market-at-200-billion-as-rules-near))\u00a0<\/p>\n","post_title":"Russians Own 12% Of The Worlds Cryptocurrencies","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"russians-own-12-of-the-worlds-cryptocurrencies","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/will-russia-ban-bitcoin-likely-not-heres-why\/","post_modified":"2023-04-30 21:39:59","post_modified_gmt":"2023-04-30 11:39:59","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3439","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3341,"post_author":"1","post_date":"2022-01-31 22:09:02","post_date_gmt":"2022-01-31 11:09:02","post_content":"\n

The Russian Government has started the development of a guide that will present limitations on cryptocurrencies.<\/p>\n\n\n\n

The roadmap presented by the Russian Government and approved by Deputy Chairman Dmitry Chernyshenko will work to ease the adoption of cryptocurrencies while halting financial instability. <\/p>\n\n\n\n

It will seek to provide a regulatory framework within the cryptocurrency markets having with an emphasis on violations and dangers within the industry.<\/p>\n\n\n\n

The roadmap goes against the recently proposed blanket ban on cryptocurrencies - as per the Russian Central Bank. Suggesting that crypto-related activities such as payments, exchange, and mining be banned, as it risks financial stability for the citizens of the nation.<\/p>\n\n\n\n

What Do Russia's Regulations Entail?<\/h2>\n\n\n\n

The National Bank, through this guide, advocates having an administrative and prohibitive system for cryptocurrencies. This change of position comes after Putin demanded showing up at an agreement in regards to this.<\/p>\n\n\n\n

Putin has recognized that, although cryptocurrencies convey a specific measure of hazard coming from its volatility, digital currency mining guarantees a ton of upper hand to the country.<\/p>\n\n\n\n

Since Russia enjoys the benefit of having the option to give cheap power, it will remain the third-biggest country for crypto mining.<\/p>\n\n\n\n

\"Regulation will only provide the transparency that will ensure the protection of citizens.\"<\/strong><\/em><\/p>Ivan Chebeskov, Head Of The Financial Policy Department<\/cite><\/blockquote>\n\n\n\n

<\/p>\n","post_title":"Will Russia Ban Bitcoin? Likely Not; Here's Why...","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"will-russia-ban-bitcoin-likely-not-heres-why","to_ping":"","pinged":"","post_modified":"2023-04-11 12:56:24","post_modified_gmt":"2023-04-11 02:56:24","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3341","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"};

1 2

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

\u201cThe defining characteristics of bitcoin allows it to act as a safe haven during turbulent times.\u201d<\/p>Paolo Ardoino, CTO of BitFinex<\/cite><\/blockquote>\n\n\n\n

The Russian Ruble has hit a 30 year low, losing over 30% of its value in less than a week, 1 Russian Ruble is worth a mere US$0.01.<\/p>\n\n\n\n

\"\"
Image: Xe<\/figcaption><\/figure>\n\n\n\n

The Impact Of War On Currency<\/h2>\n\n\n\n

Russia's invasion of Ukraine has sent markets into a whirl<\/a>. Although international markets managed to recover<\/a> mere days after the initial invasion, the most affected country is still Russia themselves.<\/p>\n\n\n\n

In response to the sanctions and bans imposed on Russia, Russia's central bank more than doubled its interest rates to a crazy 20%. This was done in an effort to \"maintain financial and price stability\" stated the central bank.<\/p>\n","post_title":"Bitcoin Overtakes The Russian Ruble In Value","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"bitcoin-overtakes-russian-ruble-in-value","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/crypto-markets-collapse-in-reaction-to-russias-war-on-ukraine\/\nhttps:\/\/www.thedistributed.co\/will-russian-banks-blocked-from-swift-turn-to-crypto\/","post_modified":"2023-04-11 12:53:33","post_modified_gmt":"2023-04-11 02:53:33","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3684","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

What Is SWIFT?<\/h2>\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

Will Russia Pivot To Crypto?<\/h2>\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":3608,"post_author":"1","post_date":"2022-02-26 13:08:41","post_date_gmt":"2022-02-26 02:08:41","post_content":"\n

Kuna<\/a>, a Ukrainian-based crypto exchange has seen a huge spike in transaction volume after the news of Russia's<\/a> invasion. <\/p>\n\n\n\n

Data<\/a> from CoinGecko<\/a> shows prior to the invasion trading volumes on Thursday were around $1.5M, nearing $5M on Friday. Although trading volume has since dropped to around $2M.<\/p>\n\n\n\n

\"\"
Source: CoinGecko<\/figcaption><\/figure>\n\n\n\n

Despite global markets taking a huge hit<\/a> after the news, Ukrainians were quick to react to the news in case of an economic crisis.<\/p>\n","post_title":"Kuna, A Ukrainian Crypto Exchange Has Tripled In Volume","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"kuna-a-ukrainian-crypto-exchange-has-tripled-in-volume","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/crypto-markets-collapse-in-reaction-to-russias-war-on-ukraine\/","post_modified":"2022-02-26 22:20:07","post_modified_gmt":"2022-02-26 11:20:07","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3608","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3591,"post_author":"1","post_date":"2022-02-26 00:05:26","post_date_gmt":"2022-02-25 13:05:26","post_content":"\n

Amidst the war between Russia<\/a> and Ukraine, thousands have shown their support through Bitcoin donations to the military.<\/p>\n\n\n\n

Come Back Alive<\/a> is a Kyiv-based non-profit. Funds were donated to their Bitcoin wallet<\/a> will finance military equipment like medical kits and armor for the Ukrainian soldiers.<\/p>\n\n\n\n

Fortune reported<\/a> that $400,000 was donated after news of Russia's invasion, according to data <\/a>from blockchain and crypto analytics firm, Elliptic. Hitting over $4,000,000 today, with several contributions of over $1,000 according to Come Back Alive's director, Taras Chmut. <\/p>\n\n\n\n

\"\"<\/figure>\n\n\n\n

After originally accepting FIAT on Go Fund Me, the page has been inaccessible since Thursday. It was against Go Fund Me policies, but they stated in a blog post<\/a> that they're using their services to support military funding. Every donation sent to the original page will be sent back.<\/p>\n\n\n\n

Cryptocurrency prices have dropped<\/a> dramatically due to fears over the war, despite this support in cryptocurrencies have become one of the main ways to support various causes.<\/p>\n","post_title":"$4M+ In Bitcoin Donated To Support Ukrainian Military","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"4m-in-bitcoin-donated-to-support-ukrainian-military","to_ping":"","pinged":"","post_modified":"2023-04-30 21:39:12","post_modified_gmt":"2023-04-30 11:39:12","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3591","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3581,"post_author":"1","post_date":"2022-02-24 19:01:39","post_date_gmt":"2022-02-24 08:01:39","post_content":"\n

After Russian President, Vladamir Putin announced<\/a> a \"special military operation\" in Ukraine global markets have tanked.<\/p>\n\n\n\n

The Russian army had launched several missiles aimed at Ukraine, targeting several cities including the capital, Kyiv.<\/p>\n\n\n\n

The Bitcoin (BTC<\/a>) price has dropped 7.26% and Ethereum (ETH<\/a>) dropped 9.48% today according to CoinMarketCap<\/a>. The overall crypto market cap has dropped 8.25% to $1.58 trillion.<\/p>\n\n\n\n

\"\"
Source: CoinMarketCap<\/figcaption><\/figure>\n\n\n\n

The Communities Reactions<\/h2>\n\n\n\n

Ethereum founder Vitalik Buterin, born and raised in Russia,\u00a0tweeted<\/a> in Russian that roughly translates to <\/p>\n\n\n\n

\u201cVery upset by Putin's decision to abandon the possibility of a peaceful solution to the dispute with Ukraine and go to war instead. This is a crime against the Ukrainian and Russian people. I want to wish everyone security, although I know that there will be no security. Glory to Ukraine.\"<\/p>\n\n\n\n

\u00a0He\u00a0added<\/a>\u00a0later in English: \u201cReminder: Ethereum is neutral, but I am not.\u201d<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/VitalikButerin\/status\/1496695424387801090?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1496695424387801090%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fcointelegraph.com%2Fnews%2Fbitcoin-plunges-as-putin-announces-special-military-operation-in-ukraine\n<\/div><\/figure>\n\n\n\n

Altcoin Sherpa,\u00a0an advisor to Atlas DEX tweeted<\/a>\u00a0that \"in these situations and it's not all about the market.\"<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/AltcoinSherpa\/status\/1496685587822256130?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1496685587822256130%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fcointelegraph.com%2Fnews%2Fbitcoin-plunges-as-putin-announces-special-military-operation-in-ukraine\n<\/div><\/figure>\n","post_title":"Crypto Markets Collapse In Reaction To Russias War On Ukraine","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"crypto-markets-collapse-in-reaction-to-russias-war-on-ukraine","to_ping":"","pinged":"","post_modified":"2022-02-24 19:05:05","post_modified_gmt":"2022-02-24 08:05:05","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3581","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3453,"post_author":"1","post_date":"2022-02-12 17:06:40","post_date_gmt":"2022-02-12 06:06:40","post_content":"\n

Gy\u00f6rgy Matolcsy, the governor of the Central Bank of Hungary is supporting the proposed crypto ban by the Russian Central Bank, expressing his agreement with the proposal to ban trading and mining of cryptocurrencies.<\/p>\n\n\n\n

This comes after the recent news<\/a> that the Russian central bank was in support of banning the trading and mining of cryptocurrencies. Matolcsy stated<\/a> that \"it is clear-cut that cryptocurrencies could service illegal activities and tend to build up financial pyramids.\" <\/p>\n\n\n\n

He also added that the \"growth and market value of cryptocurrencies is defined primarily by speculative demand for future growth, which creates bubbles.\u201d Calling for unity within the EU, Matolcsy wants the EU to \"act together\" in order to preempt the building up of \"new financial pyramids and financial bubbles.\"<\/p>\n\n\n\n

It seems that he is in support of banning it from the EU, but not worldwide. \"EU citizens and companies would be allowed to own cryptocurrencies abroad and regulators will track their holdings.\" <\/p>\n\n\n\n

As Matolscy stated above, the growth and market value of cryptocurrencies is defined by speculative demand for future growth, is the support for the ban just a way to see if other countries can manage and regulate cryptocurrencies before he makes a decision on what to do, or is it another technology that isn't fully understood?<\/p>\n","post_title":"Hungarian Central Bank In Support Of Russian Crypto Ban","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"hungarian-central-bank-in-support-of-russian-crypto-ban","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/will-russia-ban-bitcoin-likely-not-heres-why\/","post_modified":"2022-02-12 17:07:44","post_modified_gmt":"2022-02-12 06:07:44","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3453","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3439,"post_author":"1","post_date":"2022-02-10 21:26:57","post_date_gmt":"2022-02-10 10:26:57","post_content":"\n

Russians own over $214 Billion worth, or 12% of the total value<\/a> of cryptocurrencies worldwide, according to a Bloomberg report<\/a>. <\/p>\n\n\n\n

The data coming from the Kremlin and government officials out of Moscow was articulated from analyzing the IP addresses of the most prominent exchange users out of the country along with various other data points, as stated by two officials from Kremlin.<\/p>\n\n\n\n

The data comes after the Russian government had decided to regulate<\/a> rather than ban cryptocurrencies. The analysis will help articulate an overview of the market to assist in their regulations and should be taken with a grain of salt because of the anonymous nature of cryptocurrencies in general.<\/p>\n\n\n\n

\u201cRussians really do have a lot of money in cryptocurrency, but it\u2019s hard to value the true amount...many people are using cash, derivative instruments, or have two passports and can open a crypto wallet in someone else\u2019s name.\u201d<\/em><\/strong><\/p>Alexander Filatov, Co-Founder and CEO of TON Labs<\/a><\/cite><\/blockquote>\n\n\n\n

The statistics offer a snapshot of how widespread cryptocurrency investing has become in Russia being the\u00a0third-biggest<\/a>\u00a0Bitcoin miner in the world, as officials at the central bank push for a blanket ban on the local industry, while the government pursues a softer approach.((https:\/\/www.bloomberg.com\/news\/articles\/2022-02-01\/russia-values-local-crypto-market-at-200-billion-as-rules-near))\u00a0<\/p>\n","post_title":"Russians Own 12% Of The Worlds Cryptocurrencies","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"russians-own-12-of-the-worlds-cryptocurrencies","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/will-russia-ban-bitcoin-likely-not-heres-why\/","post_modified":"2023-04-30 21:39:59","post_modified_gmt":"2023-04-30 11:39:59","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3439","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3341,"post_author":"1","post_date":"2022-01-31 22:09:02","post_date_gmt":"2022-01-31 11:09:02","post_content":"\n

The Russian Government has started the development of a guide that will present limitations on cryptocurrencies.<\/p>\n\n\n\n

The roadmap presented by the Russian Government and approved by Deputy Chairman Dmitry Chernyshenko will work to ease the adoption of cryptocurrencies while halting financial instability. <\/p>\n\n\n\n

It will seek to provide a regulatory framework within the cryptocurrency markets having with an emphasis on violations and dangers within the industry.<\/p>\n\n\n\n

The roadmap goes against the recently proposed blanket ban on cryptocurrencies - as per the Russian Central Bank. Suggesting that crypto-related activities such as payments, exchange, and mining be banned, as it risks financial stability for the citizens of the nation.<\/p>\n\n\n\n

What Do Russia's Regulations Entail?<\/h2>\n\n\n\n

The National Bank, through this guide, advocates having an administrative and prohibitive system for cryptocurrencies. This change of position comes after Putin demanded showing up at an agreement in regards to this.<\/p>\n\n\n\n

Putin has recognized that, although cryptocurrencies convey a specific measure of hazard coming from its volatility, digital currency mining guarantees a ton of upper hand to the country.<\/p>\n\n\n\n

Since Russia enjoys the benefit of having the option to give cheap power, it will remain the third-biggest country for crypto mining.<\/p>\n\n\n\n

\"Regulation will only provide the transparency that will ensure the protection of citizens.\"<\/strong><\/em><\/p>Ivan Chebeskov, Head Of The Financial Policy Department<\/cite><\/blockquote>\n\n\n\n

<\/p>\n","post_title":"Will Russia Ban Bitcoin? Likely Not; Here's Why...","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"will-russia-ban-bitcoin-likely-not-heres-why","to_ping":"","pinged":"","post_modified":"2023-04-11 12:56:24","post_modified_gmt":"2023-04-11 02:56:24","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3341","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"};

1 2

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

In turn, the crash of the Ruble came after increased sanctions imposed by nations after Russia's invasion<\/a> of Ukraine. The banning of Russian banks<\/a> from the SWIFT payment system also played a major role.<\/p>\n\n\n\n

\u201cThe defining characteristics of bitcoin allows it to act as a safe haven during turbulent times.\u201d<\/p>Paolo Ardoino, CTO of BitFinex<\/cite><\/blockquote>\n\n\n\n

The Russian Ruble has hit a 30 year low, losing over 30% of its value in less than a week, 1 Russian Ruble is worth a mere US$0.01.<\/p>\n\n\n\n

\"\"
Image: Xe<\/figcaption><\/figure>\n\n\n\n

The Impact Of War On Currency<\/h2>\n\n\n\n

Russia's invasion of Ukraine has sent markets into a whirl<\/a>. Although international markets managed to recover<\/a> mere days after the initial invasion, the most affected country is still Russia themselves.<\/p>\n\n\n\n

In response to the sanctions and bans imposed on Russia, Russia's central bank more than doubled its interest rates to a crazy 20%. This was done in an effort to \"maintain financial and price stability\" stated the central bank.<\/p>\n","post_title":"Bitcoin Overtakes The Russian Ruble In Value","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"bitcoin-overtakes-russian-ruble-in-value","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/crypto-markets-collapse-in-reaction-to-russias-war-on-ukraine\/\nhttps:\/\/www.thedistributed.co\/will-russian-banks-blocked-from-swift-turn-to-crypto\/","post_modified":"2023-04-11 12:53:33","post_modified_gmt":"2023-04-11 02:53:33","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3684","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

What Is SWIFT?<\/h2>\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

Will Russia Pivot To Crypto?<\/h2>\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":3608,"post_author":"1","post_date":"2022-02-26 13:08:41","post_date_gmt":"2022-02-26 02:08:41","post_content":"\n

Kuna<\/a>, a Ukrainian-based crypto exchange has seen a huge spike in transaction volume after the news of Russia's<\/a> invasion. <\/p>\n\n\n\n

Data<\/a> from CoinGecko<\/a> shows prior to the invasion trading volumes on Thursday were around $1.5M, nearing $5M on Friday. Although trading volume has since dropped to around $2M.<\/p>\n\n\n\n

\"\"
Source: CoinGecko<\/figcaption><\/figure>\n\n\n\n

Despite global markets taking a huge hit<\/a> after the news, Ukrainians were quick to react to the news in case of an economic crisis.<\/p>\n","post_title":"Kuna, A Ukrainian Crypto Exchange Has Tripled In Volume","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"kuna-a-ukrainian-crypto-exchange-has-tripled-in-volume","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/crypto-markets-collapse-in-reaction-to-russias-war-on-ukraine\/","post_modified":"2022-02-26 22:20:07","post_modified_gmt":"2022-02-26 11:20:07","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3608","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3591,"post_author":"1","post_date":"2022-02-26 00:05:26","post_date_gmt":"2022-02-25 13:05:26","post_content":"\n

Amidst the war between Russia<\/a> and Ukraine, thousands have shown their support through Bitcoin donations to the military.<\/p>\n\n\n\n

Come Back Alive<\/a> is a Kyiv-based non-profit. Funds were donated to their Bitcoin wallet<\/a> will finance military equipment like medical kits and armor for the Ukrainian soldiers.<\/p>\n\n\n\n

Fortune reported<\/a> that $400,000 was donated after news of Russia's invasion, according to data <\/a>from blockchain and crypto analytics firm, Elliptic. Hitting over $4,000,000 today, with several contributions of over $1,000 according to Come Back Alive's director, Taras Chmut. <\/p>\n\n\n\n

\"\"<\/figure>\n\n\n\n

After originally accepting FIAT on Go Fund Me, the page has been inaccessible since Thursday. It was against Go Fund Me policies, but they stated in a blog post<\/a> that they're using their services to support military funding. Every donation sent to the original page will be sent back.<\/p>\n\n\n\n

Cryptocurrency prices have dropped<\/a> dramatically due to fears over the war, despite this support in cryptocurrencies have become one of the main ways to support various causes.<\/p>\n","post_title":"$4M+ In Bitcoin Donated To Support Ukrainian Military","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"4m-in-bitcoin-donated-to-support-ukrainian-military","to_ping":"","pinged":"","post_modified":"2023-04-30 21:39:12","post_modified_gmt":"2023-04-30 11:39:12","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3591","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3581,"post_author":"1","post_date":"2022-02-24 19:01:39","post_date_gmt":"2022-02-24 08:01:39","post_content":"\n

After Russian President, Vladamir Putin announced<\/a> a \"special military operation\" in Ukraine global markets have tanked.<\/p>\n\n\n\n

The Russian army had launched several missiles aimed at Ukraine, targeting several cities including the capital, Kyiv.<\/p>\n\n\n\n

The Bitcoin (BTC<\/a>) price has dropped 7.26% and Ethereum (ETH<\/a>) dropped 9.48% today according to CoinMarketCap<\/a>. The overall crypto market cap has dropped 8.25% to $1.58 trillion.<\/p>\n\n\n\n

\"\"
Source: CoinMarketCap<\/figcaption><\/figure>\n\n\n\n

The Communities Reactions<\/h2>\n\n\n\n

Ethereum founder Vitalik Buterin, born and raised in Russia,\u00a0tweeted<\/a> in Russian that roughly translates to <\/p>\n\n\n\n

\u201cVery upset by Putin's decision to abandon the possibility of a peaceful solution to the dispute with Ukraine and go to war instead. This is a crime against the Ukrainian and Russian people. I want to wish everyone security, although I know that there will be no security. Glory to Ukraine.\"<\/p>\n\n\n\n

\u00a0He\u00a0added<\/a>\u00a0later in English: \u201cReminder: Ethereum is neutral, but I am not.\u201d<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/VitalikButerin\/status\/1496695424387801090?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1496695424387801090%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fcointelegraph.com%2Fnews%2Fbitcoin-plunges-as-putin-announces-special-military-operation-in-ukraine\n<\/div><\/figure>\n\n\n\n

Altcoin Sherpa,\u00a0an advisor to Atlas DEX tweeted<\/a>\u00a0that \"in these situations and it's not all about the market.\"<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/AltcoinSherpa\/status\/1496685587822256130?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1496685587822256130%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fcointelegraph.com%2Fnews%2Fbitcoin-plunges-as-putin-announces-special-military-operation-in-ukraine\n<\/div><\/figure>\n","post_title":"Crypto Markets Collapse In Reaction To Russias War On Ukraine","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"crypto-markets-collapse-in-reaction-to-russias-war-on-ukraine","to_ping":"","pinged":"","post_modified":"2022-02-24 19:05:05","post_modified_gmt":"2022-02-24 08:05:05","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3581","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3453,"post_author":"1","post_date":"2022-02-12 17:06:40","post_date_gmt":"2022-02-12 06:06:40","post_content":"\n

Gy\u00f6rgy Matolcsy, the governor of the Central Bank of Hungary is supporting the proposed crypto ban by the Russian Central Bank, expressing his agreement with the proposal to ban trading and mining of cryptocurrencies.<\/p>\n\n\n\n

This comes after the recent news<\/a> that the Russian central bank was in support of banning the trading and mining of cryptocurrencies. Matolcsy stated<\/a> that \"it is clear-cut that cryptocurrencies could service illegal activities and tend to build up financial pyramids.\" <\/p>\n\n\n\n

He also added that the \"growth and market value of cryptocurrencies is defined primarily by speculative demand for future growth, which creates bubbles.\u201d Calling for unity within the EU, Matolcsy wants the EU to \"act together\" in order to preempt the building up of \"new financial pyramids and financial bubbles.\"<\/p>\n\n\n\n

It seems that he is in support of banning it from the EU, but not worldwide. \"EU citizens and companies would be allowed to own cryptocurrencies abroad and regulators will track their holdings.\" <\/p>\n\n\n\n

As Matolscy stated above, the growth and market value of cryptocurrencies is defined by speculative demand for future growth, is the support for the ban just a way to see if other countries can manage and regulate cryptocurrencies before he makes a decision on what to do, or is it another technology that isn't fully understood?<\/p>\n","post_title":"Hungarian Central Bank In Support Of Russian Crypto Ban","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"hungarian-central-bank-in-support-of-russian-crypto-ban","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/will-russia-ban-bitcoin-likely-not-heres-why\/","post_modified":"2022-02-12 17:07:44","post_modified_gmt":"2022-02-12 06:07:44","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3453","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3439,"post_author":"1","post_date":"2022-02-10 21:26:57","post_date_gmt":"2022-02-10 10:26:57","post_content":"\n

Russians own over $214 Billion worth, or 12% of the total value<\/a> of cryptocurrencies worldwide, according to a Bloomberg report<\/a>. <\/p>\n\n\n\n

The data coming from the Kremlin and government officials out of Moscow was articulated from analyzing the IP addresses of the most prominent exchange users out of the country along with various other data points, as stated by two officials from Kremlin.<\/p>\n\n\n\n

The data comes after the Russian government had decided to regulate<\/a> rather than ban cryptocurrencies. The analysis will help articulate an overview of the market to assist in their regulations and should be taken with a grain of salt because of the anonymous nature of cryptocurrencies in general.<\/p>\n\n\n\n

\u201cRussians really do have a lot of money in cryptocurrency, but it\u2019s hard to value the true amount...many people are using cash, derivative instruments, or have two passports and can open a crypto wallet in someone else\u2019s name.\u201d<\/em><\/strong><\/p>Alexander Filatov, Co-Founder and CEO of TON Labs<\/a><\/cite><\/blockquote>\n\n\n\n

The statistics offer a snapshot of how widespread cryptocurrency investing has become in Russia being the\u00a0third-biggest<\/a>\u00a0Bitcoin miner in the world, as officials at the central bank push for a blanket ban on the local industry, while the government pursues a softer approach.((https:\/\/www.bloomberg.com\/news\/articles\/2022-02-01\/russia-values-local-crypto-market-at-200-billion-as-rules-near))\u00a0<\/p>\n","post_title":"Russians Own 12% Of The Worlds Cryptocurrencies","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"russians-own-12-of-the-worlds-cryptocurrencies","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/will-russia-ban-bitcoin-likely-not-heres-why\/","post_modified":"2023-04-30 21:39:59","post_modified_gmt":"2023-04-30 11:39:59","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3439","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3341,"post_author":"1","post_date":"2022-01-31 22:09:02","post_date_gmt":"2022-01-31 11:09:02","post_content":"\n

The Russian Government has started the development of a guide that will present limitations on cryptocurrencies.<\/p>\n\n\n\n

The roadmap presented by the Russian Government and approved by Deputy Chairman Dmitry Chernyshenko will work to ease the adoption of cryptocurrencies while halting financial instability. <\/p>\n\n\n\n

It will seek to provide a regulatory framework within the cryptocurrency markets having with an emphasis on violations and dangers within the industry.<\/p>\n\n\n\n

The roadmap goes against the recently proposed blanket ban on cryptocurrencies - as per the Russian Central Bank. Suggesting that crypto-related activities such as payments, exchange, and mining be banned, as it risks financial stability for the citizens of the nation.<\/p>\n\n\n\n

What Do Russia's Regulations Entail?<\/h2>\n\n\n\n

The National Bank, through this guide, advocates having an administrative and prohibitive system for cryptocurrencies. This change of position comes after Putin demanded showing up at an agreement in regards to this.<\/p>\n\n\n\n

Putin has recognized that, although cryptocurrencies convey a specific measure of hazard coming from its volatility, digital currency mining guarantees a ton of upper hand to the country.<\/p>\n\n\n\n

Since Russia enjoys the benefit of having the option to give cheap power, it will remain the third-biggest country for crypto mining.<\/p>\n\n\n\n

\"Regulation will only provide the transparency that will ensure the protection of citizens.\"<\/strong><\/em><\/p>Ivan Chebeskov, Head Of The Financial Policy Department<\/cite><\/blockquote>\n\n\n\n

<\/p>\n","post_title":"Will Russia Ban Bitcoin? Likely Not; Here's Why...","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"will-russia-ban-bitcoin-likely-not-heres-why","to_ping":"","pinged":"","post_modified":"2023-04-11 12:56:24","post_modified_gmt":"2023-04-11 02:56:24","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3341","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"};

1 2

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

Market analysts believe Bitcoins price surge was partly fuelled by Russians exchanging Rubles to cryptocurrencies. Along with the fact cryptocurrency serves as a store of value during times of uncertainty. <\/p>\n\n\n\n

In turn, the crash of the Ruble came after increased sanctions imposed by nations after Russia's invasion<\/a> of Ukraine. The banning of Russian banks<\/a> from the SWIFT payment system also played a major role.<\/p>\n\n\n\n

\u201cThe defining characteristics of bitcoin allows it to act as a safe haven during turbulent times.\u201d<\/p>Paolo Ardoino, CTO of BitFinex<\/cite><\/blockquote>\n\n\n\n

The Russian Ruble has hit a 30 year low, losing over 30% of its value in less than a week, 1 Russian Ruble is worth a mere US$0.01.<\/p>\n\n\n\n

\"\"
Image: Xe<\/figcaption><\/figure>\n\n\n\n

The Impact Of War On Currency<\/h2>\n\n\n\n

Russia's invasion of Ukraine has sent markets into a whirl<\/a>. Although international markets managed to recover<\/a> mere days after the initial invasion, the most affected country is still Russia themselves.<\/p>\n\n\n\n

In response to the sanctions and bans imposed on Russia, Russia's central bank more than doubled its interest rates to a crazy 20%. This was done in an effort to \"maintain financial and price stability\" stated the central bank.<\/p>\n","post_title":"Bitcoin Overtakes The Russian Ruble In Value","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"bitcoin-overtakes-russian-ruble-in-value","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/crypto-markets-collapse-in-reaction-to-russias-war-on-ukraine\/\nhttps:\/\/www.thedistributed.co\/will-russian-banks-blocked-from-swift-turn-to-crypto\/","post_modified":"2023-04-11 12:53:33","post_modified_gmt":"2023-04-11 02:53:33","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3684","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

What Is SWIFT?<\/h2>\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

Will Russia Pivot To Crypto?<\/h2>\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":3608,"post_author":"1","post_date":"2022-02-26 13:08:41","post_date_gmt":"2022-02-26 02:08:41","post_content":"\n

Kuna<\/a>, a Ukrainian-based crypto exchange has seen a huge spike in transaction volume after the news of Russia's<\/a> invasion. <\/p>\n\n\n\n

Data<\/a> from CoinGecko<\/a> shows prior to the invasion trading volumes on Thursday were around $1.5M, nearing $5M on Friday. Although trading volume has since dropped to around $2M.<\/p>\n\n\n\n

\"\"
Source: CoinGecko<\/figcaption><\/figure>\n\n\n\n

Despite global markets taking a huge hit<\/a> after the news, Ukrainians were quick to react to the news in case of an economic crisis.<\/p>\n","post_title":"Kuna, A Ukrainian Crypto Exchange Has Tripled In Volume","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"kuna-a-ukrainian-crypto-exchange-has-tripled-in-volume","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/crypto-markets-collapse-in-reaction-to-russias-war-on-ukraine\/","post_modified":"2022-02-26 22:20:07","post_modified_gmt":"2022-02-26 11:20:07","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3608","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3591,"post_author":"1","post_date":"2022-02-26 00:05:26","post_date_gmt":"2022-02-25 13:05:26","post_content":"\n

Amidst the war between Russia<\/a> and Ukraine, thousands have shown their support through Bitcoin donations to the military.<\/p>\n\n\n\n

Come Back Alive<\/a> is a Kyiv-based non-profit. Funds were donated to their Bitcoin wallet<\/a> will finance military equipment like medical kits and armor for the Ukrainian soldiers.<\/p>\n\n\n\n

Fortune reported<\/a> that $400,000 was donated after news of Russia's invasion, according to data <\/a>from blockchain and crypto analytics firm, Elliptic. Hitting over $4,000,000 today, with several contributions of over $1,000 according to Come Back Alive's director, Taras Chmut. <\/p>\n\n\n\n

\"\"<\/figure>\n\n\n\n

After originally accepting FIAT on Go Fund Me, the page has been inaccessible since Thursday. It was against Go Fund Me policies, but they stated in a blog post<\/a> that they're using their services to support military funding. Every donation sent to the original page will be sent back.<\/p>\n\n\n\n

Cryptocurrency prices have dropped<\/a> dramatically due to fears over the war, despite this support in cryptocurrencies have become one of the main ways to support various causes.<\/p>\n","post_title":"$4M+ In Bitcoin Donated To Support Ukrainian Military","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"4m-in-bitcoin-donated-to-support-ukrainian-military","to_ping":"","pinged":"","post_modified":"2023-04-30 21:39:12","post_modified_gmt":"2023-04-30 11:39:12","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3591","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3581,"post_author":"1","post_date":"2022-02-24 19:01:39","post_date_gmt":"2022-02-24 08:01:39","post_content":"\n

After Russian President, Vladamir Putin announced<\/a> a \"special military operation\" in Ukraine global markets have tanked.<\/p>\n\n\n\n

The Russian army had launched several missiles aimed at Ukraine, targeting several cities including the capital, Kyiv.<\/p>\n\n\n\n

The Bitcoin (BTC<\/a>) price has dropped 7.26% and Ethereum (ETH<\/a>) dropped 9.48% today according to CoinMarketCap<\/a>. The overall crypto market cap has dropped 8.25% to $1.58 trillion.<\/p>\n\n\n\n

\"\"
Source: CoinMarketCap<\/figcaption><\/figure>\n\n\n\n

The Communities Reactions<\/h2>\n\n\n\n

Ethereum founder Vitalik Buterin, born and raised in Russia,\u00a0tweeted<\/a> in Russian that roughly translates to <\/p>\n\n\n\n

\u201cVery upset by Putin's decision to abandon the possibility of a peaceful solution to the dispute with Ukraine and go to war instead. This is a crime against the Ukrainian and Russian people. I want to wish everyone security, although I know that there will be no security. Glory to Ukraine.\"<\/p>\n\n\n\n

\u00a0He\u00a0added<\/a>\u00a0later in English: \u201cReminder: Ethereum is neutral, but I am not.\u201d<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/VitalikButerin\/status\/1496695424387801090?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1496695424387801090%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fcointelegraph.com%2Fnews%2Fbitcoin-plunges-as-putin-announces-special-military-operation-in-ukraine\n<\/div><\/figure>\n\n\n\n

Altcoin Sherpa,\u00a0an advisor to Atlas DEX tweeted<\/a>\u00a0that \"in these situations and it's not all about the market.\"<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/AltcoinSherpa\/status\/1496685587822256130?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1496685587822256130%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fcointelegraph.com%2Fnews%2Fbitcoin-plunges-as-putin-announces-special-military-operation-in-ukraine\n<\/div><\/figure>\n","post_title":"Crypto Markets Collapse In Reaction To Russias War On Ukraine","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"crypto-markets-collapse-in-reaction-to-russias-war-on-ukraine","to_ping":"","pinged":"","post_modified":"2022-02-24 19:05:05","post_modified_gmt":"2022-02-24 08:05:05","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3581","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3453,"post_author":"1","post_date":"2022-02-12 17:06:40","post_date_gmt":"2022-02-12 06:06:40","post_content":"\n

Gy\u00f6rgy Matolcsy, the governor of the Central Bank of Hungary is supporting the proposed crypto ban by the Russian Central Bank, expressing his agreement with the proposal to ban trading and mining of cryptocurrencies.<\/p>\n\n\n\n

This comes after the recent news<\/a> that the Russian central bank was in support of banning the trading and mining of cryptocurrencies. Matolcsy stated<\/a> that \"it is clear-cut that cryptocurrencies could service illegal activities and tend to build up financial pyramids.\" <\/p>\n\n\n\n

He also added that the \"growth and market value of cryptocurrencies is defined primarily by speculative demand for future growth, which creates bubbles.\u201d Calling for unity within the EU, Matolcsy wants the EU to \"act together\" in order to preempt the building up of \"new financial pyramids and financial bubbles.\"<\/p>\n\n\n\n

It seems that he is in support of banning it from the EU, but not worldwide. \"EU citizens and companies would be allowed to own cryptocurrencies abroad and regulators will track their holdings.\" <\/p>\n\n\n\n

As Matolscy stated above, the growth and market value of cryptocurrencies is defined by speculative demand for future growth, is the support for the ban just a way to see if other countries can manage and regulate cryptocurrencies before he makes a decision on what to do, or is it another technology that isn't fully understood?<\/p>\n","post_title":"Hungarian Central Bank In Support Of Russian Crypto Ban","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"hungarian-central-bank-in-support-of-russian-crypto-ban","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/will-russia-ban-bitcoin-likely-not-heres-why\/","post_modified":"2022-02-12 17:07:44","post_modified_gmt":"2022-02-12 06:07:44","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3453","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3439,"post_author":"1","post_date":"2022-02-10 21:26:57","post_date_gmt":"2022-02-10 10:26:57","post_content":"\n

Russians own over $214 Billion worth, or 12% of the total value<\/a> of cryptocurrencies worldwide, according to a Bloomberg report<\/a>. <\/p>\n\n\n\n

The data coming from the Kremlin and government officials out of Moscow was articulated from analyzing the IP addresses of the most prominent exchange users out of the country along with various other data points, as stated by two officials from Kremlin.<\/p>\n\n\n\n

The data comes after the Russian government had decided to regulate<\/a> rather than ban cryptocurrencies. The analysis will help articulate an overview of the market to assist in their regulations and should be taken with a grain of salt because of the anonymous nature of cryptocurrencies in general.<\/p>\n\n\n\n

\u201cRussians really do have a lot of money in cryptocurrency, but it\u2019s hard to value the true amount...many people are using cash, derivative instruments, or have two passports and can open a crypto wallet in someone else\u2019s name.\u201d<\/em><\/strong><\/p>Alexander Filatov, Co-Founder and CEO of TON Labs<\/a><\/cite><\/blockquote>\n\n\n\n

The statistics offer a snapshot of how widespread cryptocurrency investing has become in Russia being the\u00a0third-biggest<\/a>\u00a0Bitcoin miner in the world, as officials at the central bank push for a blanket ban on the local industry, while the government pursues a softer approach.((https:\/\/www.bloomberg.com\/news\/articles\/2022-02-01\/russia-values-local-crypto-market-at-200-billion-as-rules-near))\u00a0<\/p>\n","post_title":"Russians Own 12% Of The Worlds Cryptocurrencies","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"russians-own-12-of-the-worlds-cryptocurrencies","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/will-russia-ban-bitcoin-likely-not-heres-why\/","post_modified":"2023-04-30 21:39:59","post_modified_gmt":"2023-04-30 11:39:59","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3439","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3341,"post_author":"1","post_date":"2022-01-31 22:09:02","post_date_gmt":"2022-01-31 11:09:02","post_content":"\n

The Russian Government has started the development of a guide that will present limitations on cryptocurrencies.<\/p>\n\n\n\n

The roadmap presented by the Russian Government and approved by Deputy Chairman Dmitry Chernyshenko will work to ease the adoption of cryptocurrencies while halting financial instability. <\/p>\n\n\n\n

It will seek to provide a regulatory framework within the cryptocurrency markets having with an emphasis on violations and dangers within the industry.<\/p>\n\n\n\n

The roadmap goes against the recently proposed blanket ban on cryptocurrencies - as per the Russian Central Bank. Suggesting that crypto-related activities such as payments, exchange, and mining be banned, as it risks financial stability for the citizens of the nation.<\/p>\n\n\n\n

What Do Russia's Regulations Entail?<\/h2>\n\n\n\n

The National Bank, through this guide, advocates having an administrative and prohibitive system for cryptocurrencies. This change of position comes after Putin demanded showing up at an agreement in regards to this.<\/p>\n\n\n\n

Putin has recognized that, although cryptocurrencies convey a specific measure of hazard coming from its volatility, digital currency mining guarantees a ton of upper hand to the country.<\/p>\n\n\n\n

Since Russia enjoys the benefit of having the option to give cheap power, it will remain the third-biggest country for crypto mining.<\/p>\n\n\n\n

\"Regulation will only provide the transparency that will ensure the protection of citizens.\"<\/strong><\/em><\/p>Ivan Chebeskov, Head Of The Financial Policy Department<\/cite><\/blockquote>\n\n\n\n

<\/p>\n","post_title":"Will Russia Ban Bitcoin? Likely Not; Here's Why...","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"will-russia-ban-bitcoin-likely-not-heres-why","to_ping":"","pinged":"","post_modified":"2023-04-11 12:56:24","post_modified_gmt":"2023-04-11 02:56:24","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3341","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"};

1 2

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

Bitcoin<\/a>\u00a0has overtaken the Russian Ruble<\/a> in total market capitalization. <\/p>\n\n\n\n

Market analysts believe Bitcoins price surge was partly fuelled by Russians exchanging Rubles to cryptocurrencies. Along with the fact cryptocurrency serves as a store of value during times of uncertainty. <\/p>\n\n\n\n

In turn, the crash of the Ruble came after increased sanctions imposed by nations after Russia's invasion<\/a> of Ukraine. The banning of Russian banks<\/a> from the SWIFT payment system also played a major role.<\/p>\n\n\n\n

\u201cThe defining characteristics of bitcoin allows it to act as a safe haven during turbulent times.\u201d<\/p>Paolo Ardoino, CTO of BitFinex<\/cite><\/blockquote>\n\n\n\n

The Russian Ruble has hit a 30 year low, losing over 30% of its value in less than a week, 1 Russian Ruble is worth a mere US$0.01.<\/p>\n\n\n\n

\"\"
Image: Xe<\/figcaption><\/figure>\n\n\n\n

The Impact Of War On Currency<\/h2>\n\n\n\n

Russia's invasion of Ukraine has sent markets into a whirl<\/a>. Although international markets managed to recover<\/a> mere days after the initial invasion, the most affected country is still Russia themselves.<\/p>\n\n\n\n

In response to the sanctions and bans imposed on Russia, Russia's central bank more than doubled its interest rates to a crazy 20%. This was done in an effort to \"maintain financial and price stability\" stated the central bank.<\/p>\n","post_title":"Bitcoin Overtakes The Russian Ruble In Value","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"bitcoin-overtakes-russian-ruble-in-value","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/crypto-markets-collapse-in-reaction-to-russias-war-on-ukraine\/\nhttps:\/\/www.thedistributed.co\/will-russian-banks-blocked-from-swift-turn-to-crypto\/","post_modified":"2023-04-11 12:53:33","post_modified_gmt":"2023-04-11 02:53:33","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3684","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

What Is SWIFT?<\/h2>\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

Will Russia Pivot To Crypto?<\/h2>\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":3608,"post_author":"1","post_date":"2022-02-26 13:08:41","post_date_gmt":"2022-02-26 02:08:41","post_content":"\n

Kuna<\/a>, a Ukrainian-based crypto exchange has seen a huge spike in transaction volume after the news of Russia's<\/a> invasion. <\/p>\n\n\n\n

Data<\/a> from CoinGecko<\/a> shows prior to the invasion trading volumes on Thursday were around $1.5M, nearing $5M on Friday. Although trading volume has since dropped to around $2M.<\/p>\n\n\n\n

\"\"
Source: CoinGecko<\/figcaption><\/figure>\n\n\n\n

Despite global markets taking a huge hit<\/a> after the news, Ukrainians were quick to react to the news in case of an economic crisis.<\/p>\n","post_title":"Kuna, A Ukrainian Crypto Exchange Has Tripled In Volume","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"kuna-a-ukrainian-crypto-exchange-has-tripled-in-volume","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/crypto-markets-collapse-in-reaction-to-russias-war-on-ukraine\/","post_modified":"2022-02-26 22:20:07","post_modified_gmt":"2022-02-26 11:20:07","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3608","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3591,"post_author":"1","post_date":"2022-02-26 00:05:26","post_date_gmt":"2022-02-25 13:05:26","post_content":"\n

Amidst the war between Russia<\/a> and Ukraine, thousands have shown their support through Bitcoin donations to the military.<\/p>\n\n\n\n

Come Back Alive<\/a> is a Kyiv-based non-profit. Funds were donated to their Bitcoin wallet<\/a> will finance military equipment like medical kits and armor for the Ukrainian soldiers.<\/p>\n\n\n\n

Fortune reported<\/a> that $400,000 was donated after news of Russia's invasion, according to data <\/a>from blockchain and crypto analytics firm, Elliptic. Hitting over $4,000,000 today, with several contributions of over $1,000 according to Come Back Alive's director, Taras Chmut. <\/p>\n\n\n\n

\"\"<\/figure>\n\n\n\n

After originally accepting FIAT on Go Fund Me, the page has been inaccessible since Thursday. It was against Go Fund Me policies, but they stated in a blog post<\/a> that they're using their services to support military funding. Every donation sent to the original page will be sent back.<\/p>\n\n\n\n

Cryptocurrency prices have dropped<\/a> dramatically due to fears over the war, despite this support in cryptocurrencies have become one of the main ways to support various causes.<\/p>\n","post_title":"$4M+ In Bitcoin Donated To Support Ukrainian Military","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"4m-in-bitcoin-donated-to-support-ukrainian-military","to_ping":"","pinged":"","post_modified":"2023-04-30 21:39:12","post_modified_gmt":"2023-04-30 11:39:12","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3591","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3581,"post_author":"1","post_date":"2022-02-24 19:01:39","post_date_gmt":"2022-02-24 08:01:39","post_content":"\n

After Russian President, Vladamir Putin announced<\/a> a \"special military operation\" in Ukraine global markets have tanked.<\/p>\n\n\n\n

The Russian army had launched several missiles aimed at Ukraine, targeting several cities including the capital, Kyiv.<\/p>\n\n\n\n

The Bitcoin (BTC<\/a>) price has dropped 7.26% and Ethereum (ETH<\/a>) dropped 9.48% today according to CoinMarketCap<\/a>. The overall crypto market cap has dropped 8.25% to $1.58 trillion.<\/p>\n\n\n\n

\"\"
Source: CoinMarketCap<\/figcaption><\/figure>\n\n\n\n

The Communities Reactions<\/h2>\n\n\n\n

Ethereum founder Vitalik Buterin, born and raised in Russia,\u00a0tweeted<\/a> in Russian that roughly translates to <\/p>\n\n\n\n

\u201cVery upset by Putin's decision to abandon the possibility of a peaceful solution to the dispute with Ukraine and go to war instead. This is a crime against the Ukrainian and Russian people. I want to wish everyone security, although I know that there will be no security. Glory to Ukraine.\"<\/p>\n\n\n\n

\u00a0He\u00a0added<\/a>\u00a0later in English: \u201cReminder: Ethereum is neutral, but I am not.\u201d<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/VitalikButerin\/status\/1496695424387801090?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1496695424387801090%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fcointelegraph.com%2Fnews%2Fbitcoin-plunges-as-putin-announces-special-military-operation-in-ukraine\n<\/div><\/figure>\n\n\n\n

Altcoin Sherpa,\u00a0an advisor to Atlas DEX tweeted<\/a>\u00a0that \"in these situations and it's not all about the market.\"<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/AltcoinSherpa\/status\/1496685587822256130?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1496685587822256130%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fcointelegraph.com%2Fnews%2Fbitcoin-plunges-as-putin-announces-special-military-operation-in-ukraine\n<\/div><\/figure>\n","post_title":"Crypto Markets Collapse In Reaction To Russias War On Ukraine","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"crypto-markets-collapse-in-reaction-to-russias-war-on-ukraine","to_ping":"","pinged":"","post_modified":"2022-02-24 19:05:05","post_modified_gmt":"2022-02-24 08:05:05","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3581","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3453,"post_author":"1","post_date":"2022-02-12 17:06:40","post_date_gmt":"2022-02-12 06:06:40","post_content":"\n

Gy\u00f6rgy Matolcsy, the governor of the Central Bank of Hungary is supporting the proposed crypto ban by the Russian Central Bank, expressing his agreement with the proposal to ban trading and mining of cryptocurrencies.<\/p>\n\n\n\n

This comes after the recent news<\/a> that the Russian central bank was in support of banning the trading and mining of cryptocurrencies. Matolcsy stated<\/a> that \"it is clear-cut that cryptocurrencies could service illegal activities and tend to build up financial pyramids.\" <\/p>\n\n\n\n

He also added that the \"growth and market value of cryptocurrencies is defined primarily by speculative demand for future growth, which creates bubbles.\u201d Calling for unity within the EU, Matolcsy wants the EU to \"act together\" in order to preempt the building up of \"new financial pyramids and financial bubbles.\"<\/p>\n\n\n\n

It seems that he is in support of banning it from the EU, but not worldwide. \"EU citizens and companies would be allowed to own cryptocurrencies abroad and regulators will track their holdings.\" <\/p>\n\n\n\n

As Matolscy stated above, the growth and market value of cryptocurrencies is defined by speculative demand for future growth, is the support for the ban just a way to see if other countries can manage and regulate cryptocurrencies before he makes a decision on what to do, or is it another technology that isn't fully understood?<\/p>\n","post_title":"Hungarian Central Bank In Support Of Russian Crypto Ban","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"hungarian-central-bank-in-support-of-russian-crypto-ban","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/will-russia-ban-bitcoin-likely-not-heres-why\/","post_modified":"2022-02-12 17:07:44","post_modified_gmt":"2022-02-12 06:07:44","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3453","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3439,"post_author":"1","post_date":"2022-02-10 21:26:57","post_date_gmt":"2022-02-10 10:26:57","post_content":"\n

Russians own over $214 Billion worth, or 12% of the total value<\/a> of cryptocurrencies worldwide, according to a Bloomberg report<\/a>. <\/p>\n\n\n\n

The data coming from the Kremlin and government officials out of Moscow was articulated from analyzing the IP addresses of the most prominent exchange users out of the country along with various other data points, as stated by two officials from Kremlin.<\/p>\n\n\n\n

The data comes after the Russian government had decided to regulate<\/a> rather than ban cryptocurrencies. The analysis will help articulate an overview of the market to assist in their regulations and should be taken with a grain of salt because of the anonymous nature of cryptocurrencies in general.<\/p>\n\n\n\n

\u201cRussians really do have a lot of money in cryptocurrency, but it\u2019s hard to value the true amount...many people are using cash, derivative instruments, or have two passports and can open a crypto wallet in someone else\u2019s name.\u201d<\/em><\/strong><\/p>Alexander Filatov, Co-Founder and CEO of TON Labs<\/a><\/cite><\/blockquote>\n\n\n\n

The statistics offer a snapshot of how widespread cryptocurrency investing has become in Russia being the\u00a0third-biggest<\/a>\u00a0Bitcoin miner in the world, as officials at the central bank push for a blanket ban on the local industry, while the government pursues a softer approach.((https:\/\/www.bloomberg.com\/news\/articles\/2022-02-01\/russia-values-local-crypto-market-at-200-billion-as-rules-near))\u00a0<\/p>\n","post_title":"Russians Own 12% Of The Worlds Cryptocurrencies","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"russians-own-12-of-the-worlds-cryptocurrencies","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/will-russia-ban-bitcoin-likely-not-heres-why\/","post_modified":"2023-04-30 21:39:59","post_modified_gmt":"2023-04-30 11:39:59","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3439","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3341,"post_author":"1","post_date":"2022-01-31 22:09:02","post_date_gmt":"2022-01-31 11:09:02","post_content":"\n

The Russian Government has started the development of a guide that will present limitations on cryptocurrencies.<\/p>\n\n\n\n

The roadmap presented by the Russian Government and approved by Deputy Chairman Dmitry Chernyshenko will work to ease the adoption of cryptocurrencies while halting financial instability. <\/p>\n\n\n\n

It will seek to provide a regulatory framework within the cryptocurrency markets having with an emphasis on violations and dangers within the industry.<\/p>\n\n\n\n

The roadmap goes against the recently proposed blanket ban on cryptocurrencies - as per the Russian Central Bank. Suggesting that crypto-related activities such as payments, exchange, and mining be banned, as it risks financial stability for the citizens of the nation.<\/p>\n\n\n\n

What Do Russia's Regulations Entail?<\/h2>\n\n\n\n

The National Bank, through this guide, advocates having an administrative and prohibitive system for cryptocurrencies. This change of position comes after Putin demanded showing up at an agreement in regards to this.<\/p>\n\n\n\n

Putin has recognized that, although cryptocurrencies convey a specific measure of hazard coming from its volatility, digital currency mining guarantees a ton of upper hand to the country.<\/p>\n\n\n\n

Since Russia enjoys the benefit of having the option to give cheap power, it will remain the third-biggest country for crypto mining.<\/p>\n\n\n\n

\"Regulation will only provide the transparency that will ensure the protection of citizens.\"<\/strong><\/em><\/p>Ivan Chebeskov, Head Of The Financial Policy Department<\/cite><\/blockquote>\n\n\n\n

<\/p>\n","post_title":"Will Russia Ban Bitcoin? Likely Not; Here's Why...","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"will-russia-ban-bitcoin-likely-not-heres-why","to_ping":"","pinged":"","post_modified":"2023-04-11 12:56:24","post_modified_gmt":"2023-04-11 02:56:24","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3341","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"};

1 2

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n
\nhttps:\/\/twitter.com\/LatestAnonPress\/status\/1497786715783798785?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1497786715783798785%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fbeincrypto.com%2Fanonymous-will-pay-russian-troops-52000-in-btc-for-each-tank%2F\n<\/div><\/figure>\n","post_title":"Anonymous Offering Russian Troops Bitcoin To Surrender Their Tanks","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"anonymous-offering-russian-troops-bitcoin-to-surrender-their-tanks","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/crypto-markets-collapse-in-reaction-to-russias-war-on-ukraine\/","post_modified":"2023-04-30 21:38:24","post_modified_gmt":"2023-04-30 11:38:24","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3758","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3684,"post_author":"1","post_date":"2022-03-01 22:27:59","post_date_gmt":"2022-03-01 11:27:59","post_content":"\n

Bitcoin<\/a>\u00a0has overtaken the Russian Ruble<\/a> in total market capitalization. <\/p>\n\n\n\n

Market analysts believe Bitcoins price surge was partly fuelled by Russians exchanging Rubles to cryptocurrencies. Along with the fact cryptocurrency serves as a store of value during times of uncertainty. <\/p>\n\n\n\n

In turn, the crash of the Ruble came after increased sanctions imposed by nations after Russia's invasion<\/a> of Ukraine. The banning of Russian banks<\/a> from the SWIFT payment system also played a major role.<\/p>\n\n\n\n

\u201cThe defining characteristics of bitcoin allows it to act as a safe haven during turbulent times.\u201d<\/p>Paolo Ardoino, CTO of BitFinex<\/cite><\/blockquote>\n\n\n\n

The Russian Ruble has hit a 30 year low, losing over 30% of its value in less than a week, 1 Russian Ruble is worth a mere US$0.01.<\/p>\n\n\n\n

\"\"
Image: Xe<\/figcaption><\/figure>\n\n\n\n

The Impact Of War On Currency<\/h2>\n\n\n\n

Russia's invasion of Ukraine has sent markets into a whirl<\/a>. Although international markets managed to recover<\/a> mere days after the initial invasion, the most affected country is still Russia themselves.<\/p>\n\n\n\n

In response to the sanctions and bans imposed on Russia, Russia's central bank more than doubled its interest rates to a crazy 20%. This was done in an effort to \"maintain financial and price stability\" stated the central bank.<\/p>\n","post_title":"Bitcoin Overtakes The Russian Ruble In Value","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"bitcoin-overtakes-russian-ruble-in-value","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/crypto-markets-collapse-in-reaction-to-russias-war-on-ukraine\/\nhttps:\/\/www.thedistributed.co\/will-russian-banks-blocked-from-swift-turn-to-crypto\/","post_modified":"2023-04-11 12:53:33","post_modified_gmt":"2023-04-11 02:53:33","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3684","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

What Is SWIFT?<\/h2>\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

Will Russia Pivot To Crypto?<\/h2>\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":3608,"post_author":"1","post_date":"2022-02-26 13:08:41","post_date_gmt":"2022-02-26 02:08:41","post_content":"\n

Kuna<\/a>, a Ukrainian-based crypto exchange has seen a huge spike in transaction volume after the news of Russia's<\/a> invasion. <\/p>\n\n\n\n

Data<\/a> from CoinGecko<\/a> shows prior to the invasion trading volumes on Thursday were around $1.5M, nearing $5M on Friday. Although trading volume has since dropped to around $2M.<\/p>\n\n\n\n

\"\"
Source: CoinGecko<\/figcaption><\/figure>\n\n\n\n

Despite global markets taking a huge hit<\/a> after the news, Ukrainians were quick to react to the news in case of an economic crisis.<\/p>\n","post_title":"Kuna, A Ukrainian Crypto Exchange Has Tripled In Volume","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"kuna-a-ukrainian-crypto-exchange-has-tripled-in-volume","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/crypto-markets-collapse-in-reaction-to-russias-war-on-ukraine\/","post_modified":"2022-02-26 22:20:07","post_modified_gmt":"2022-02-26 11:20:07","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3608","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3591,"post_author":"1","post_date":"2022-02-26 00:05:26","post_date_gmt":"2022-02-25 13:05:26","post_content":"\n

Amidst the war between Russia<\/a> and Ukraine, thousands have shown their support through Bitcoin donations to the military.<\/p>\n\n\n\n

Come Back Alive<\/a> is a Kyiv-based non-profit. Funds were donated to their Bitcoin wallet<\/a> will finance military equipment like medical kits and armor for the Ukrainian soldiers.<\/p>\n\n\n\n

Fortune reported<\/a> that $400,000 was donated after news of Russia's invasion, according to data <\/a>from blockchain and crypto analytics firm, Elliptic. Hitting over $4,000,000 today, with several contributions of over $1,000 according to Come Back Alive's director, Taras Chmut. <\/p>\n\n\n\n

\"\"<\/figure>\n\n\n\n

After originally accepting FIAT on Go Fund Me, the page has been inaccessible since Thursday. It was against Go Fund Me policies, but they stated in a blog post<\/a> that they're using their services to support military funding. Every donation sent to the original page will be sent back.<\/p>\n\n\n\n

Cryptocurrency prices have dropped<\/a> dramatically due to fears over the war, despite this support in cryptocurrencies have become one of the main ways to support various causes.<\/p>\n","post_title":"$4M+ In Bitcoin Donated To Support Ukrainian Military","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"4m-in-bitcoin-donated-to-support-ukrainian-military","to_ping":"","pinged":"","post_modified":"2023-04-30 21:39:12","post_modified_gmt":"2023-04-30 11:39:12","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3591","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3581,"post_author":"1","post_date":"2022-02-24 19:01:39","post_date_gmt":"2022-02-24 08:01:39","post_content":"\n

After Russian President, Vladamir Putin announced<\/a> a \"special military operation\" in Ukraine global markets have tanked.<\/p>\n\n\n\n

The Russian army had launched several missiles aimed at Ukraine, targeting several cities including the capital, Kyiv.<\/p>\n\n\n\n

The Bitcoin (BTC<\/a>) price has dropped 7.26% and Ethereum (ETH<\/a>) dropped 9.48% today according to CoinMarketCap<\/a>. The overall crypto market cap has dropped 8.25% to $1.58 trillion.<\/p>\n\n\n\n

\"\"
Source: CoinMarketCap<\/figcaption><\/figure>\n\n\n\n

The Communities Reactions<\/h2>\n\n\n\n

Ethereum founder Vitalik Buterin, born and raised in Russia,\u00a0tweeted<\/a> in Russian that roughly translates to <\/p>\n\n\n\n

\u201cVery upset by Putin's decision to abandon the possibility of a peaceful solution to the dispute with Ukraine and go to war instead. This is a crime against the Ukrainian and Russian people. I want to wish everyone security, although I know that there will be no security. Glory to Ukraine.\"<\/p>\n\n\n\n

\u00a0He\u00a0added<\/a>\u00a0later in English: \u201cReminder: Ethereum is neutral, but I am not.\u201d<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/VitalikButerin\/status\/1496695424387801090?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1496695424387801090%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fcointelegraph.com%2Fnews%2Fbitcoin-plunges-as-putin-announces-special-military-operation-in-ukraine\n<\/div><\/figure>\n\n\n\n

Altcoin Sherpa,\u00a0an advisor to Atlas DEX tweeted<\/a>\u00a0that \"in these situations and it's not all about the market.\"<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/AltcoinSherpa\/status\/1496685587822256130?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1496685587822256130%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fcointelegraph.com%2Fnews%2Fbitcoin-plunges-as-putin-announces-special-military-operation-in-ukraine\n<\/div><\/figure>\n","post_title":"Crypto Markets Collapse In Reaction To Russias War On Ukraine","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"crypto-markets-collapse-in-reaction-to-russias-war-on-ukraine","to_ping":"","pinged":"","post_modified":"2022-02-24 19:05:05","post_modified_gmt":"2022-02-24 08:05:05","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3581","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3453,"post_author":"1","post_date":"2022-02-12 17:06:40","post_date_gmt":"2022-02-12 06:06:40","post_content":"\n

Gy\u00f6rgy Matolcsy, the governor of the Central Bank of Hungary is supporting the proposed crypto ban by the Russian Central Bank, expressing his agreement with the proposal to ban trading and mining of cryptocurrencies.<\/p>\n\n\n\n

This comes after the recent news<\/a> that the Russian central bank was in support of banning the trading and mining of cryptocurrencies. Matolcsy stated<\/a> that \"it is clear-cut that cryptocurrencies could service illegal activities and tend to build up financial pyramids.\" <\/p>\n\n\n\n

He also added that the \"growth and market value of cryptocurrencies is defined primarily by speculative demand for future growth, which creates bubbles.\u201d Calling for unity within the EU, Matolcsy wants the EU to \"act together\" in order to preempt the building up of \"new financial pyramids and financial bubbles.\"<\/p>\n\n\n\n

It seems that he is in support of banning it from the EU, but not worldwide. \"EU citizens and companies would be allowed to own cryptocurrencies abroad and regulators will track their holdings.\" <\/p>\n\n\n\n

As Matolscy stated above, the growth and market value of cryptocurrencies is defined by speculative demand for future growth, is the support for the ban just a way to see if other countries can manage and regulate cryptocurrencies before he makes a decision on what to do, or is it another technology that isn't fully understood?<\/p>\n","post_title":"Hungarian Central Bank In Support Of Russian Crypto Ban","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"hungarian-central-bank-in-support-of-russian-crypto-ban","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/will-russia-ban-bitcoin-likely-not-heres-why\/","post_modified":"2022-02-12 17:07:44","post_modified_gmt":"2022-02-12 06:07:44","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3453","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3439,"post_author":"1","post_date":"2022-02-10 21:26:57","post_date_gmt":"2022-02-10 10:26:57","post_content":"\n

Russians own over $214 Billion worth, or 12% of the total value<\/a> of cryptocurrencies worldwide, according to a Bloomberg report<\/a>. <\/p>\n\n\n\n

The data coming from the Kremlin and government officials out of Moscow was articulated from analyzing the IP addresses of the most prominent exchange users out of the country along with various other data points, as stated by two officials from Kremlin.<\/p>\n\n\n\n

The data comes after the Russian government had decided to regulate<\/a> rather than ban cryptocurrencies. The analysis will help articulate an overview of the market to assist in their regulations and should be taken with a grain of salt because of the anonymous nature of cryptocurrencies in general.<\/p>\n\n\n\n

\u201cRussians really do have a lot of money in cryptocurrency, but it\u2019s hard to value the true amount...many people are using cash, derivative instruments, or have two passports and can open a crypto wallet in someone else\u2019s name.\u201d<\/em><\/strong><\/p>Alexander Filatov, Co-Founder and CEO of TON Labs<\/a><\/cite><\/blockquote>\n\n\n\n

The statistics offer a snapshot of how widespread cryptocurrency investing has become in Russia being the\u00a0third-biggest<\/a>\u00a0Bitcoin miner in the world, as officials at the central bank push for a blanket ban on the local industry, while the government pursues a softer approach.((https:\/\/www.bloomberg.com\/news\/articles\/2022-02-01\/russia-values-local-crypto-market-at-200-billion-as-rules-near))\u00a0<\/p>\n","post_title":"Russians Own 12% Of The Worlds Cryptocurrencies","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"russians-own-12-of-the-worlds-cryptocurrencies","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/will-russia-ban-bitcoin-likely-not-heres-why\/","post_modified":"2023-04-30 21:39:59","post_modified_gmt":"2023-04-30 11:39:59","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3439","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3341,"post_author":"1","post_date":"2022-01-31 22:09:02","post_date_gmt":"2022-01-31 11:09:02","post_content":"\n

The Russian Government has started the development of a guide that will present limitations on cryptocurrencies.<\/p>\n\n\n\n

The roadmap presented by the Russian Government and approved by Deputy Chairman Dmitry Chernyshenko will work to ease the adoption of cryptocurrencies while halting financial instability. <\/p>\n\n\n\n

It will seek to provide a regulatory framework within the cryptocurrency markets having with an emphasis on violations and dangers within the industry.<\/p>\n\n\n\n

The roadmap goes against the recently proposed blanket ban on cryptocurrencies - as per the Russian Central Bank. Suggesting that crypto-related activities such as payments, exchange, and mining be banned, as it risks financial stability for the citizens of the nation.<\/p>\n\n\n\n

What Do Russia's Regulations Entail?<\/h2>\n\n\n\n

The National Bank, through this guide, advocates having an administrative and prohibitive system for cryptocurrencies. This change of position comes after Putin demanded showing up at an agreement in regards to this.<\/p>\n\n\n\n

Putin has recognized that, although cryptocurrencies convey a specific measure of hazard coming from its volatility, digital currency mining guarantees a ton of upper hand to the country.<\/p>\n\n\n\n

Since Russia enjoys the benefit of having the option to give cheap power, it will remain the third-biggest country for crypto mining.<\/p>\n\n\n\n

\"Regulation will only provide the transparency that will ensure the protection of citizens.\"<\/strong><\/em><\/p>Ivan Chebeskov, Head Of The Financial Policy Department<\/cite><\/blockquote>\n\n\n\n

<\/p>\n","post_title":"Will Russia Ban Bitcoin? Likely Not; Here's Why...","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"will-russia-ban-bitcoin-likely-not-heres-why","to_ping":"","pinged":"","post_modified":"2023-04-11 12:56:24","post_modified_gmt":"2023-04-11 02:56:24","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3341","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"};

1 2

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

Only two days after declaring cyber-war, they managed to collect over US$10 million from taking down 300 targets including banks, news outlets and government agencies. These funds will be used to support their new offer.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/LatestAnonPress\/status\/1497786715783798785?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1497786715783798785%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fbeincrypto.com%2Fanonymous-will-pay-russian-troops-52000-in-btc-for-each-tank%2F\n<\/div><\/figure>\n","post_title":"Anonymous Offering Russian Troops Bitcoin To Surrender Their Tanks","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"anonymous-offering-russian-troops-bitcoin-to-surrender-their-tanks","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/crypto-markets-collapse-in-reaction-to-russias-war-on-ukraine\/","post_modified":"2023-04-30 21:38:24","post_modified_gmt":"2023-04-30 11:38:24","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3758","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3684,"post_author":"1","post_date":"2022-03-01 22:27:59","post_date_gmt":"2022-03-01 11:27:59","post_content":"\n

Bitcoin<\/a>\u00a0has overtaken the Russian Ruble<\/a> in total market capitalization. <\/p>\n\n\n\n

Market analysts believe Bitcoins price surge was partly fuelled by Russians exchanging Rubles to cryptocurrencies. Along with the fact cryptocurrency serves as a store of value during times of uncertainty. <\/p>\n\n\n\n

In turn, the crash of the Ruble came after increased sanctions imposed by nations after Russia's invasion<\/a> of Ukraine. The banning of Russian banks<\/a> from the SWIFT payment system also played a major role.<\/p>\n\n\n\n

\u201cThe defining characteristics of bitcoin allows it to act as a safe haven during turbulent times.\u201d<\/p>Paolo Ardoino, CTO of BitFinex<\/cite><\/blockquote>\n\n\n\n

The Russian Ruble has hit a 30 year low, losing over 30% of its value in less than a week, 1 Russian Ruble is worth a mere US$0.01.<\/p>\n\n\n\n

\"\"
Image: Xe<\/figcaption><\/figure>\n\n\n\n

The Impact Of War On Currency<\/h2>\n\n\n\n

Russia's invasion of Ukraine has sent markets into a whirl<\/a>. Although international markets managed to recover<\/a> mere days after the initial invasion, the most affected country is still Russia themselves.<\/p>\n\n\n\n

In response to the sanctions and bans imposed on Russia, Russia's central bank more than doubled its interest rates to a crazy 20%. This was done in an effort to \"maintain financial and price stability\" stated the central bank.<\/p>\n","post_title":"Bitcoin Overtakes The Russian Ruble In Value","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"bitcoin-overtakes-russian-ruble-in-value","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/crypto-markets-collapse-in-reaction-to-russias-war-on-ukraine\/\nhttps:\/\/www.thedistributed.co\/will-russian-banks-blocked-from-swift-turn-to-crypto\/","post_modified":"2023-04-11 12:53:33","post_modified_gmt":"2023-04-11 02:53:33","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3684","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

What Is SWIFT?<\/h2>\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

Will Russia Pivot To Crypto?<\/h2>\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":3608,"post_author":"1","post_date":"2022-02-26 13:08:41","post_date_gmt":"2022-02-26 02:08:41","post_content":"\n

Kuna<\/a>, a Ukrainian-based crypto exchange has seen a huge spike in transaction volume after the news of Russia's<\/a> invasion. <\/p>\n\n\n\n

Data<\/a> from CoinGecko<\/a> shows prior to the invasion trading volumes on Thursday were around $1.5M, nearing $5M on Friday. Although trading volume has since dropped to around $2M.<\/p>\n\n\n\n

\"\"
Source: CoinGecko<\/figcaption><\/figure>\n\n\n\n

Despite global markets taking a huge hit<\/a> after the news, Ukrainians were quick to react to the news in case of an economic crisis.<\/p>\n","post_title":"Kuna, A Ukrainian Crypto Exchange Has Tripled In Volume","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"kuna-a-ukrainian-crypto-exchange-has-tripled-in-volume","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/crypto-markets-collapse-in-reaction-to-russias-war-on-ukraine\/","post_modified":"2022-02-26 22:20:07","post_modified_gmt":"2022-02-26 11:20:07","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3608","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3591,"post_author":"1","post_date":"2022-02-26 00:05:26","post_date_gmt":"2022-02-25 13:05:26","post_content":"\n

Amidst the war between Russia<\/a> and Ukraine, thousands have shown their support through Bitcoin donations to the military.<\/p>\n\n\n\n

Come Back Alive<\/a> is a Kyiv-based non-profit. Funds were donated to their Bitcoin wallet<\/a> will finance military equipment like medical kits and armor for the Ukrainian soldiers.<\/p>\n\n\n\n

Fortune reported<\/a> that $400,000 was donated after news of Russia's invasion, according to data <\/a>from blockchain and crypto analytics firm, Elliptic. Hitting over $4,000,000 today, with several contributions of over $1,000 according to Come Back Alive's director, Taras Chmut. <\/p>\n\n\n\n

\"\"<\/figure>\n\n\n\n

After originally accepting FIAT on Go Fund Me, the page has been inaccessible since Thursday. It was against Go Fund Me policies, but they stated in a blog post<\/a> that they're using their services to support military funding. Every donation sent to the original page will be sent back.<\/p>\n\n\n\n

Cryptocurrency prices have dropped<\/a> dramatically due to fears over the war, despite this support in cryptocurrencies have become one of the main ways to support various causes.<\/p>\n","post_title":"$4M+ In Bitcoin Donated To Support Ukrainian Military","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"4m-in-bitcoin-donated-to-support-ukrainian-military","to_ping":"","pinged":"","post_modified":"2023-04-30 21:39:12","post_modified_gmt":"2023-04-30 11:39:12","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3591","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3581,"post_author":"1","post_date":"2022-02-24 19:01:39","post_date_gmt":"2022-02-24 08:01:39","post_content":"\n

After Russian President, Vladamir Putin announced<\/a> a \"special military operation\" in Ukraine global markets have tanked.<\/p>\n\n\n\n

The Russian army had launched several missiles aimed at Ukraine, targeting several cities including the capital, Kyiv.<\/p>\n\n\n\n

The Bitcoin (BTC<\/a>) price has dropped 7.26% and Ethereum (ETH<\/a>) dropped 9.48% today according to CoinMarketCap<\/a>. The overall crypto market cap has dropped 8.25% to $1.58 trillion.<\/p>\n\n\n\n

\"\"
Source: CoinMarketCap<\/figcaption><\/figure>\n\n\n\n

The Communities Reactions<\/h2>\n\n\n\n

Ethereum founder Vitalik Buterin, born and raised in Russia,\u00a0tweeted<\/a> in Russian that roughly translates to <\/p>\n\n\n\n

\u201cVery upset by Putin's decision to abandon the possibility of a peaceful solution to the dispute with Ukraine and go to war instead. This is a crime against the Ukrainian and Russian people. I want to wish everyone security, although I know that there will be no security. Glory to Ukraine.\"<\/p>\n\n\n\n

\u00a0He\u00a0added<\/a>\u00a0later in English: \u201cReminder: Ethereum is neutral, but I am not.\u201d<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/VitalikButerin\/status\/1496695424387801090?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1496695424387801090%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fcointelegraph.com%2Fnews%2Fbitcoin-plunges-as-putin-announces-special-military-operation-in-ukraine\n<\/div><\/figure>\n\n\n\n

Altcoin Sherpa,\u00a0an advisor to Atlas DEX tweeted<\/a>\u00a0that \"in these situations and it's not all about the market.\"<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/AltcoinSherpa\/status\/1496685587822256130?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1496685587822256130%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fcointelegraph.com%2Fnews%2Fbitcoin-plunges-as-putin-announces-special-military-operation-in-ukraine\n<\/div><\/figure>\n","post_title":"Crypto Markets Collapse In Reaction To Russias War On Ukraine","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"crypto-markets-collapse-in-reaction-to-russias-war-on-ukraine","to_ping":"","pinged":"","post_modified":"2022-02-24 19:05:05","post_modified_gmt":"2022-02-24 08:05:05","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3581","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3453,"post_author":"1","post_date":"2022-02-12 17:06:40","post_date_gmt":"2022-02-12 06:06:40","post_content":"\n

Gy\u00f6rgy Matolcsy, the governor of the Central Bank of Hungary is supporting the proposed crypto ban by the Russian Central Bank, expressing his agreement with the proposal to ban trading and mining of cryptocurrencies.<\/p>\n\n\n\n

This comes after the recent news<\/a> that the Russian central bank was in support of banning the trading and mining of cryptocurrencies. Matolcsy stated<\/a> that \"it is clear-cut that cryptocurrencies could service illegal activities and tend to build up financial pyramids.\" <\/p>\n\n\n\n

He also added that the \"growth and market value of cryptocurrencies is defined primarily by speculative demand for future growth, which creates bubbles.\u201d Calling for unity within the EU, Matolcsy wants the EU to \"act together\" in order to preempt the building up of \"new financial pyramids and financial bubbles.\"<\/p>\n\n\n\n

It seems that he is in support of banning it from the EU, but not worldwide. \"EU citizens and companies would be allowed to own cryptocurrencies abroad and regulators will track their holdings.\" <\/p>\n\n\n\n

As Matolscy stated above, the growth and market value of cryptocurrencies is defined by speculative demand for future growth, is the support for the ban just a way to see if other countries can manage and regulate cryptocurrencies before he makes a decision on what to do, or is it another technology that isn't fully understood?<\/p>\n","post_title":"Hungarian Central Bank In Support Of Russian Crypto Ban","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"hungarian-central-bank-in-support-of-russian-crypto-ban","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/will-russia-ban-bitcoin-likely-not-heres-why\/","post_modified":"2022-02-12 17:07:44","post_modified_gmt":"2022-02-12 06:07:44","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3453","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3439,"post_author":"1","post_date":"2022-02-10 21:26:57","post_date_gmt":"2022-02-10 10:26:57","post_content":"\n

Russians own over $214 Billion worth, or 12% of the total value<\/a> of cryptocurrencies worldwide, according to a Bloomberg report<\/a>. <\/p>\n\n\n\n

The data coming from the Kremlin and government officials out of Moscow was articulated from analyzing the IP addresses of the most prominent exchange users out of the country along with various other data points, as stated by two officials from Kremlin.<\/p>\n\n\n\n

The data comes after the Russian government had decided to regulate<\/a> rather than ban cryptocurrencies. The analysis will help articulate an overview of the market to assist in their regulations and should be taken with a grain of salt because of the anonymous nature of cryptocurrencies in general.<\/p>\n\n\n\n

\u201cRussians really do have a lot of money in cryptocurrency, but it\u2019s hard to value the true amount...many people are using cash, derivative instruments, or have two passports and can open a crypto wallet in someone else\u2019s name.\u201d<\/em><\/strong><\/p>Alexander Filatov, Co-Founder and CEO of TON Labs<\/a><\/cite><\/blockquote>\n\n\n\n

The statistics offer a snapshot of how widespread cryptocurrency investing has become in Russia being the\u00a0third-biggest<\/a>\u00a0Bitcoin miner in the world, as officials at the central bank push for a blanket ban on the local industry, while the government pursues a softer approach.((https:\/\/www.bloomberg.com\/news\/articles\/2022-02-01\/russia-values-local-crypto-market-at-200-billion-as-rules-near))\u00a0<\/p>\n","post_title":"Russians Own 12% Of The Worlds Cryptocurrencies","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"russians-own-12-of-the-worlds-cryptocurrencies","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/will-russia-ban-bitcoin-likely-not-heres-why\/","post_modified":"2023-04-30 21:39:59","post_modified_gmt":"2023-04-30 11:39:59","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3439","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3341,"post_author":"1","post_date":"2022-01-31 22:09:02","post_date_gmt":"2022-01-31 11:09:02","post_content":"\n

The Russian Government has started the development of a guide that will present limitations on cryptocurrencies.<\/p>\n\n\n\n

The roadmap presented by the Russian Government and approved by Deputy Chairman Dmitry Chernyshenko will work to ease the adoption of cryptocurrencies while halting financial instability. <\/p>\n\n\n\n

It will seek to provide a regulatory framework within the cryptocurrency markets having with an emphasis on violations and dangers within the industry.<\/p>\n\n\n\n

The roadmap goes against the recently proposed blanket ban on cryptocurrencies - as per the Russian Central Bank. Suggesting that crypto-related activities such as payments, exchange, and mining be banned, as it risks financial stability for the citizens of the nation.<\/p>\n\n\n\n

What Do Russia's Regulations Entail?<\/h2>\n\n\n\n

The National Bank, through this guide, advocates having an administrative and prohibitive system for cryptocurrencies. This change of position comes after Putin demanded showing up at an agreement in regards to this.<\/p>\n\n\n\n

Putin has recognized that, although cryptocurrencies convey a specific measure of hazard coming from its volatility, digital currency mining guarantees a ton of upper hand to the country.<\/p>\n\n\n\n

Since Russia enjoys the benefit of having the option to give cheap power, it will remain the third-biggest country for crypto mining.<\/p>\n\n\n\n

\"Regulation will only provide the transparency that will ensure the protection of citizens.\"<\/strong><\/em><\/p>Ivan Chebeskov, Head Of The Financial Policy Department<\/cite><\/blockquote>\n\n\n\n

<\/p>\n","post_title":"Will Russia Ban Bitcoin? Likely Not; Here's Why...","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"will-russia-ban-bitcoin-likely-not-heres-why","to_ping":"","pinged":"","post_modified":"2023-04-11 12:56:24","post_modified_gmt":"2023-04-11 02:56:24","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3341","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"};

1 2

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

Anonymous declared war against Vladimir Putin after news of the invasion<\/a>, promising \u201cunprecedented cyber-attacks from all corners of the world\u201d. <\/p>\n\n\n\n

Only two days after declaring cyber-war, they managed to collect over US$10 million from taking down 300 targets including banks, news outlets and government agencies. These funds will be used to support their new offer.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/LatestAnonPress\/status\/1497786715783798785?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1497786715783798785%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fbeincrypto.com%2Fanonymous-will-pay-russian-troops-52000-in-btc-for-each-tank%2F\n<\/div><\/figure>\n","post_title":"Anonymous Offering Russian Troops Bitcoin To Surrender Their Tanks","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"anonymous-offering-russian-troops-bitcoin-to-surrender-their-tanks","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/crypto-markets-collapse-in-reaction-to-russias-war-on-ukraine\/","post_modified":"2023-04-30 21:38:24","post_modified_gmt":"2023-04-30 11:38:24","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3758","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3684,"post_author":"1","post_date":"2022-03-01 22:27:59","post_date_gmt":"2022-03-01 11:27:59","post_content":"\n

Bitcoin<\/a>\u00a0has overtaken the Russian Ruble<\/a> in total market capitalization. <\/p>\n\n\n\n

Market analysts believe Bitcoins price surge was partly fuelled by Russians exchanging Rubles to cryptocurrencies. Along with the fact cryptocurrency serves as a store of value during times of uncertainty. <\/p>\n\n\n\n

In turn, the crash of the Ruble came after increased sanctions imposed by nations after Russia's invasion<\/a> of Ukraine. The banning of Russian banks<\/a> from the SWIFT payment system also played a major role.<\/p>\n\n\n\n

\u201cThe defining characteristics of bitcoin allows it to act as a safe haven during turbulent times.\u201d<\/p>Paolo Ardoino, CTO of BitFinex<\/cite><\/blockquote>\n\n\n\n

The Russian Ruble has hit a 30 year low, losing over 30% of its value in less than a week, 1 Russian Ruble is worth a mere US$0.01.<\/p>\n\n\n\n

\"\"
Image: Xe<\/figcaption><\/figure>\n\n\n\n

The Impact Of War On Currency<\/h2>\n\n\n\n

Russia's invasion of Ukraine has sent markets into a whirl<\/a>. Although international markets managed to recover<\/a> mere days after the initial invasion, the most affected country is still Russia themselves.<\/p>\n\n\n\n

In response to the sanctions and bans imposed on Russia, Russia's central bank more than doubled its interest rates to a crazy 20%. This was done in an effort to \"maintain financial and price stability\" stated the central bank.<\/p>\n","post_title":"Bitcoin Overtakes The Russian Ruble In Value","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"bitcoin-overtakes-russian-ruble-in-value","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/crypto-markets-collapse-in-reaction-to-russias-war-on-ukraine\/\nhttps:\/\/www.thedistributed.co\/will-russian-banks-blocked-from-swift-turn-to-crypto\/","post_modified":"2023-04-11 12:53:33","post_modified_gmt":"2023-04-11 02:53:33","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3684","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

What Is SWIFT?<\/h2>\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

Will Russia Pivot To Crypto?<\/h2>\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":3608,"post_author":"1","post_date":"2022-02-26 13:08:41","post_date_gmt":"2022-02-26 02:08:41","post_content":"\n

Kuna<\/a>, a Ukrainian-based crypto exchange has seen a huge spike in transaction volume after the news of Russia's<\/a> invasion. <\/p>\n\n\n\n

Data<\/a> from CoinGecko<\/a> shows prior to the invasion trading volumes on Thursday were around $1.5M, nearing $5M on Friday. Although trading volume has since dropped to around $2M.<\/p>\n\n\n\n

\"\"
Source: CoinGecko<\/figcaption><\/figure>\n\n\n\n

Despite global markets taking a huge hit<\/a> after the news, Ukrainians were quick to react to the news in case of an economic crisis.<\/p>\n","post_title":"Kuna, A Ukrainian Crypto Exchange Has Tripled In Volume","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"kuna-a-ukrainian-crypto-exchange-has-tripled-in-volume","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/crypto-markets-collapse-in-reaction-to-russias-war-on-ukraine\/","post_modified":"2022-02-26 22:20:07","post_modified_gmt":"2022-02-26 11:20:07","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3608","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3591,"post_author":"1","post_date":"2022-02-26 00:05:26","post_date_gmt":"2022-02-25 13:05:26","post_content":"\n

Amidst the war between Russia<\/a> and Ukraine, thousands have shown their support through Bitcoin donations to the military.<\/p>\n\n\n\n

Come Back Alive<\/a> is a Kyiv-based non-profit. Funds were donated to their Bitcoin wallet<\/a> will finance military equipment like medical kits and armor for the Ukrainian soldiers.<\/p>\n\n\n\n

Fortune reported<\/a> that $400,000 was donated after news of Russia's invasion, according to data <\/a>from blockchain and crypto analytics firm, Elliptic. Hitting over $4,000,000 today, with several contributions of over $1,000 according to Come Back Alive's director, Taras Chmut. <\/p>\n\n\n\n

\"\"<\/figure>\n\n\n\n

After originally accepting FIAT on Go Fund Me, the page has been inaccessible since Thursday. It was against Go Fund Me policies, but they stated in a blog post<\/a> that they're using their services to support military funding. Every donation sent to the original page will be sent back.<\/p>\n\n\n\n

Cryptocurrency prices have dropped<\/a> dramatically due to fears over the war, despite this support in cryptocurrencies have become one of the main ways to support various causes.<\/p>\n","post_title":"$4M+ In Bitcoin Donated To Support Ukrainian Military","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"4m-in-bitcoin-donated-to-support-ukrainian-military","to_ping":"","pinged":"","post_modified":"2023-04-30 21:39:12","post_modified_gmt":"2023-04-30 11:39:12","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3591","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3581,"post_author":"1","post_date":"2022-02-24 19:01:39","post_date_gmt":"2022-02-24 08:01:39","post_content":"\n

After Russian President, Vladamir Putin announced<\/a> a \"special military operation\" in Ukraine global markets have tanked.<\/p>\n\n\n\n

The Russian army had launched several missiles aimed at Ukraine, targeting several cities including the capital, Kyiv.<\/p>\n\n\n\n

The Bitcoin (BTC<\/a>) price has dropped 7.26% and Ethereum (ETH<\/a>) dropped 9.48% today according to CoinMarketCap<\/a>. The overall crypto market cap has dropped 8.25% to $1.58 trillion.<\/p>\n\n\n\n

\"\"
Source: CoinMarketCap<\/figcaption><\/figure>\n\n\n\n

The Communities Reactions<\/h2>\n\n\n\n

Ethereum founder Vitalik Buterin, born and raised in Russia,\u00a0tweeted<\/a> in Russian that roughly translates to <\/p>\n\n\n\n

\u201cVery upset by Putin's decision to abandon the possibility of a peaceful solution to the dispute with Ukraine and go to war instead. This is a crime against the Ukrainian and Russian people. I want to wish everyone security, although I know that there will be no security. Glory to Ukraine.\"<\/p>\n\n\n\n

\u00a0He\u00a0added<\/a>\u00a0later in English: \u201cReminder: Ethereum is neutral, but I am not.\u201d<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/VitalikButerin\/status\/1496695424387801090?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1496695424387801090%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fcointelegraph.com%2Fnews%2Fbitcoin-plunges-as-putin-announces-special-military-operation-in-ukraine\n<\/div><\/figure>\n\n\n\n

Altcoin Sherpa,\u00a0an advisor to Atlas DEX tweeted<\/a>\u00a0that \"in these situations and it's not all about the market.\"<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/AltcoinSherpa\/status\/1496685587822256130?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1496685587822256130%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fcointelegraph.com%2Fnews%2Fbitcoin-plunges-as-putin-announces-special-military-operation-in-ukraine\n<\/div><\/figure>\n","post_title":"Crypto Markets Collapse In Reaction To Russias War On Ukraine","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"crypto-markets-collapse-in-reaction-to-russias-war-on-ukraine","to_ping":"","pinged":"","post_modified":"2022-02-24 19:05:05","post_modified_gmt":"2022-02-24 08:05:05","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3581","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3453,"post_author":"1","post_date":"2022-02-12 17:06:40","post_date_gmt":"2022-02-12 06:06:40","post_content":"\n

Gy\u00f6rgy Matolcsy, the governor of the Central Bank of Hungary is supporting the proposed crypto ban by the Russian Central Bank, expressing his agreement with the proposal to ban trading and mining of cryptocurrencies.<\/p>\n\n\n\n

This comes after the recent news<\/a> that the Russian central bank was in support of banning the trading and mining of cryptocurrencies. Matolcsy stated<\/a> that \"it is clear-cut that cryptocurrencies could service illegal activities and tend to build up financial pyramids.\" <\/p>\n\n\n\n

He also added that the \"growth and market value of cryptocurrencies is defined primarily by speculative demand for future growth, which creates bubbles.\u201d Calling for unity within the EU, Matolcsy wants the EU to \"act together\" in order to preempt the building up of \"new financial pyramids and financial bubbles.\"<\/p>\n\n\n\n

It seems that he is in support of banning it from the EU, but not worldwide. \"EU citizens and companies would be allowed to own cryptocurrencies abroad and regulators will track their holdings.\" <\/p>\n\n\n\n

As Matolscy stated above, the growth and market value of cryptocurrencies is defined by speculative demand for future growth, is the support for the ban just a way to see if other countries can manage and regulate cryptocurrencies before he makes a decision on what to do, or is it another technology that isn't fully understood?<\/p>\n","post_title":"Hungarian Central Bank In Support Of Russian Crypto Ban","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"hungarian-central-bank-in-support-of-russian-crypto-ban","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/will-russia-ban-bitcoin-likely-not-heres-why\/","post_modified":"2022-02-12 17:07:44","post_modified_gmt":"2022-02-12 06:07:44","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3453","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3439,"post_author":"1","post_date":"2022-02-10 21:26:57","post_date_gmt":"2022-02-10 10:26:57","post_content":"\n

Russians own over $214 Billion worth, or 12% of the total value<\/a> of cryptocurrencies worldwide, according to a Bloomberg report<\/a>. <\/p>\n\n\n\n

The data coming from the Kremlin and government officials out of Moscow was articulated from analyzing the IP addresses of the most prominent exchange users out of the country along with various other data points, as stated by two officials from Kremlin.<\/p>\n\n\n\n

The data comes after the Russian government had decided to regulate<\/a> rather than ban cryptocurrencies. The analysis will help articulate an overview of the market to assist in their regulations and should be taken with a grain of salt because of the anonymous nature of cryptocurrencies in general.<\/p>\n\n\n\n

\u201cRussians really do have a lot of money in cryptocurrency, but it\u2019s hard to value the true amount...many people are using cash, derivative instruments, or have two passports and can open a crypto wallet in someone else\u2019s name.\u201d<\/em><\/strong><\/p>Alexander Filatov, Co-Founder and CEO of TON Labs<\/a><\/cite><\/blockquote>\n\n\n\n

The statistics offer a snapshot of how widespread cryptocurrency investing has become in Russia being the\u00a0third-biggest<\/a>\u00a0Bitcoin miner in the world, as officials at the central bank push for a blanket ban on the local industry, while the government pursues a softer approach.((https:\/\/www.bloomberg.com\/news\/articles\/2022-02-01\/russia-values-local-crypto-market-at-200-billion-as-rules-near))\u00a0<\/p>\n","post_title":"Russians Own 12% Of The Worlds Cryptocurrencies","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"russians-own-12-of-the-worlds-cryptocurrencies","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/will-russia-ban-bitcoin-likely-not-heres-why\/","post_modified":"2023-04-30 21:39:59","post_modified_gmt":"2023-04-30 11:39:59","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3439","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3341,"post_author":"1","post_date":"2022-01-31 22:09:02","post_date_gmt":"2022-01-31 11:09:02","post_content":"\n

The Russian Government has started the development of a guide that will present limitations on cryptocurrencies.<\/p>\n\n\n\n

The roadmap presented by the Russian Government and approved by Deputy Chairman Dmitry Chernyshenko will work to ease the adoption of cryptocurrencies while halting financial instability. <\/p>\n\n\n\n

It will seek to provide a regulatory framework within the cryptocurrency markets having with an emphasis on violations and dangers within the industry.<\/p>\n\n\n\n

The roadmap goes against the recently proposed blanket ban on cryptocurrencies - as per the Russian Central Bank. Suggesting that crypto-related activities such as payments, exchange, and mining be banned, as it risks financial stability for the citizens of the nation.<\/p>\n\n\n\n

What Do Russia's Regulations Entail?<\/h2>\n\n\n\n

The National Bank, through this guide, advocates having an administrative and prohibitive system for cryptocurrencies. This change of position comes after Putin demanded showing up at an agreement in regards to this.<\/p>\n\n\n\n

Putin has recognized that, although cryptocurrencies convey a specific measure of hazard coming from its volatility, digital currency mining guarantees a ton of upper hand to the country.<\/p>\n\n\n\n

Since Russia enjoys the benefit of having the option to give cheap power, it will remain the third-biggest country for crypto mining.<\/p>\n\n\n\n

\"Regulation will only provide the transparency that will ensure the protection of citizens.\"<\/strong><\/em><\/p>Ivan Chebeskov, Head Of The Financial Policy Department<\/cite><\/blockquote>\n\n\n\n

<\/p>\n","post_title":"Will Russia Ban Bitcoin? Likely Not; Here's Why...","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"will-russia-ban-bitcoin-likely-not-heres-why","to_ping":"","pinged":"","post_modified":"2023-04-11 12:56:24","post_modified_gmt":"2023-04-11 02:56:24","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3341","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"};

1 2

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

Anonymous vs Russia<\/h2>\n\n\n\n

Anonymous declared war against Vladimir Putin after news of the invasion<\/a>, promising \u201cunprecedented cyber-attacks from all corners of the world\u201d. <\/p>\n\n\n\n

Only two days after declaring cyber-war, they managed to collect over US$10 million from taking down 300 targets including banks, news outlets and government agencies. These funds will be used to support their new offer.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/LatestAnonPress\/status\/1497786715783798785?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1497786715783798785%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fbeincrypto.com%2Fanonymous-will-pay-russian-troops-52000-in-btc-for-each-tank%2F\n<\/div><\/figure>\n","post_title":"Anonymous Offering Russian Troops Bitcoin To Surrender Their Tanks","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"anonymous-offering-russian-troops-bitcoin-to-surrender-their-tanks","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/crypto-markets-collapse-in-reaction-to-russias-war-on-ukraine\/","post_modified":"2023-04-30 21:38:24","post_modified_gmt":"2023-04-30 11:38:24","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3758","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3684,"post_author":"1","post_date":"2022-03-01 22:27:59","post_date_gmt":"2022-03-01 11:27:59","post_content":"\n

Bitcoin<\/a>\u00a0has overtaken the Russian Ruble<\/a> in total market capitalization. <\/p>\n\n\n\n

Market analysts believe Bitcoins price surge was partly fuelled by Russians exchanging Rubles to cryptocurrencies. Along with the fact cryptocurrency serves as a store of value during times of uncertainty. <\/p>\n\n\n\n

In turn, the crash of the Ruble came after increased sanctions imposed by nations after Russia's invasion<\/a> of Ukraine. The banning of Russian banks<\/a> from the SWIFT payment system also played a major role.<\/p>\n\n\n\n

\u201cThe defining characteristics of bitcoin allows it to act as a safe haven during turbulent times.\u201d<\/p>Paolo Ardoino, CTO of BitFinex<\/cite><\/blockquote>\n\n\n\n

The Russian Ruble has hit a 30 year low, losing over 30% of its value in less than a week, 1 Russian Ruble is worth a mere US$0.01.<\/p>\n\n\n\n

\"\"
Image: Xe<\/figcaption><\/figure>\n\n\n\n

The Impact Of War On Currency<\/h2>\n\n\n\n

Russia's invasion of Ukraine has sent markets into a whirl<\/a>. Although international markets managed to recover<\/a> mere days after the initial invasion, the most affected country is still Russia themselves.<\/p>\n\n\n\n

In response to the sanctions and bans imposed on Russia, Russia's central bank more than doubled its interest rates to a crazy 20%. This was done in an effort to \"maintain financial and price stability\" stated the central bank.<\/p>\n","post_title":"Bitcoin Overtakes The Russian Ruble In Value","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"bitcoin-overtakes-russian-ruble-in-value","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/crypto-markets-collapse-in-reaction-to-russias-war-on-ukraine\/\nhttps:\/\/www.thedistributed.co\/will-russian-banks-blocked-from-swift-turn-to-crypto\/","post_modified":"2023-04-11 12:53:33","post_modified_gmt":"2023-04-11 02:53:33","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3684","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

What Is SWIFT?<\/h2>\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

Will Russia Pivot To Crypto?<\/h2>\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":3608,"post_author":"1","post_date":"2022-02-26 13:08:41","post_date_gmt":"2022-02-26 02:08:41","post_content":"\n

Kuna<\/a>, a Ukrainian-based crypto exchange has seen a huge spike in transaction volume after the news of Russia's<\/a> invasion. <\/p>\n\n\n\n

Data<\/a> from CoinGecko<\/a> shows prior to the invasion trading volumes on Thursday were around $1.5M, nearing $5M on Friday. Although trading volume has since dropped to around $2M.<\/p>\n\n\n\n

\"\"
Source: CoinGecko<\/figcaption><\/figure>\n\n\n\n

Despite global markets taking a huge hit<\/a> after the news, Ukrainians were quick to react to the news in case of an economic crisis.<\/p>\n","post_title":"Kuna, A Ukrainian Crypto Exchange Has Tripled In Volume","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"kuna-a-ukrainian-crypto-exchange-has-tripled-in-volume","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/crypto-markets-collapse-in-reaction-to-russias-war-on-ukraine\/","post_modified":"2022-02-26 22:20:07","post_modified_gmt":"2022-02-26 11:20:07","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3608","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3591,"post_author":"1","post_date":"2022-02-26 00:05:26","post_date_gmt":"2022-02-25 13:05:26","post_content":"\n

Amidst the war between Russia<\/a> and Ukraine, thousands have shown their support through Bitcoin donations to the military.<\/p>\n\n\n\n

Come Back Alive<\/a> is a Kyiv-based non-profit. Funds were donated to their Bitcoin wallet<\/a> will finance military equipment like medical kits and armor for the Ukrainian soldiers.<\/p>\n\n\n\n

Fortune reported<\/a> that $400,000 was donated after news of Russia's invasion, according to data <\/a>from blockchain and crypto analytics firm, Elliptic. Hitting over $4,000,000 today, with several contributions of over $1,000 according to Come Back Alive's director, Taras Chmut. <\/p>\n\n\n\n

\"\"<\/figure>\n\n\n\n

After originally accepting FIAT on Go Fund Me, the page has been inaccessible since Thursday. It was against Go Fund Me policies, but they stated in a blog post<\/a> that they're using their services to support military funding. Every donation sent to the original page will be sent back.<\/p>\n\n\n\n

Cryptocurrency prices have dropped<\/a> dramatically due to fears over the war, despite this support in cryptocurrencies have become one of the main ways to support various causes.<\/p>\n","post_title":"$4M+ In Bitcoin Donated To Support Ukrainian Military","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"4m-in-bitcoin-donated-to-support-ukrainian-military","to_ping":"","pinged":"","post_modified":"2023-04-30 21:39:12","post_modified_gmt":"2023-04-30 11:39:12","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3591","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3581,"post_author":"1","post_date":"2022-02-24 19:01:39","post_date_gmt":"2022-02-24 08:01:39","post_content":"\n

After Russian President, Vladamir Putin announced<\/a> a \"special military operation\" in Ukraine global markets have tanked.<\/p>\n\n\n\n

The Russian army had launched several missiles aimed at Ukraine, targeting several cities including the capital, Kyiv.<\/p>\n\n\n\n

The Bitcoin (BTC<\/a>) price has dropped 7.26% and Ethereum (ETH<\/a>) dropped 9.48% today according to CoinMarketCap<\/a>. The overall crypto market cap has dropped 8.25% to $1.58 trillion.<\/p>\n\n\n\n

\"\"
Source: CoinMarketCap<\/figcaption><\/figure>\n\n\n\n

The Communities Reactions<\/h2>\n\n\n\n

Ethereum founder Vitalik Buterin, born and raised in Russia,\u00a0tweeted<\/a> in Russian that roughly translates to <\/p>\n\n\n\n

\u201cVery upset by Putin's decision to abandon the possibility of a peaceful solution to the dispute with Ukraine and go to war instead. This is a crime against the Ukrainian and Russian people. I want to wish everyone security, although I know that there will be no security. Glory to Ukraine.\"<\/p>\n\n\n\n

\u00a0He\u00a0added<\/a>\u00a0later in English: \u201cReminder: Ethereum is neutral, but I am not.\u201d<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/VitalikButerin\/status\/1496695424387801090?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1496695424387801090%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fcointelegraph.com%2Fnews%2Fbitcoin-plunges-as-putin-announces-special-military-operation-in-ukraine\n<\/div><\/figure>\n\n\n\n

Altcoin Sherpa,\u00a0an advisor to Atlas DEX tweeted<\/a>\u00a0that \"in these situations and it's not all about the market.\"<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/AltcoinSherpa\/status\/1496685587822256130?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1496685587822256130%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fcointelegraph.com%2Fnews%2Fbitcoin-plunges-as-putin-announces-special-military-operation-in-ukraine\n<\/div><\/figure>\n","post_title":"Crypto Markets Collapse In Reaction To Russias War On Ukraine","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"crypto-markets-collapse-in-reaction-to-russias-war-on-ukraine","to_ping":"","pinged":"","post_modified":"2022-02-24 19:05:05","post_modified_gmt":"2022-02-24 08:05:05","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3581","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3453,"post_author":"1","post_date":"2022-02-12 17:06:40","post_date_gmt":"2022-02-12 06:06:40","post_content":"\n

Gy\u00f6rgy Matolcsy, the governor of the Central Bank of Hungary is supporting the proposed crypto ban by the Russian Central Bank, expressing his agreement with the proposal to ban trading and mining of cryptocurrencies.<\/p>\n\n\n\n

This comes after the recent news<\/a> that the Russian central bank was in support of banning the trading and mining of cryptocurrencies. Matolcsy stated<\/a> that \"it is clear-cut that cryptocurrencies could service illegal activities and tend to build up financial pyramids.\" <\/p>\n\n\n\n

He also added that the \"growth and market value of cryptocurrencies is defined primarily by speculative demand for future growth, which creates bubbles.\u201d Calling for unity within the EU, Matolcsy wants the EU to \"act together\" in order to preempt the building up of \"new financial pyramids and financial bubbles.\"<\/p>\n\n\n\n

It seems that he is in support of banning it from the EU, but not worldwide. \"EU citizens and companies would be allowed to own cryptocurrencies abroad and regulators will track their holdings.\" <\/p>\n\n\n\n

As Matolscy stated above, the growth and market value of cryptocurrencies is defined by speculative demand for future growth, is the support for the ban just a way to see if other countries can manage and regulate cryptocurrencies before he makes a decision on what to do, or is it another technology that isn't fully understood?<\/p>\n","post_title":"Hungarian Central Bank In Support Of Russian Crypto Ban","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"hungarian-central-bank-in-support-of-russian-crypto-ban","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/will-russia-ban-bitcoin-likely-not-heres-why\/","post_modified":"2022-02-12 17:07:44","post_modified_gmt":"2022-02-12 06:07:44","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3453","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3439,"post_author":"1","post_date":"2022-02-10 21:26:57","post_date_gmt":"2022-02-10 10:26:57","post_content":"\n

Russians own over $214 Billion worth, or 12% of the total value<\/a> of cryptocurrencies worldwide, according to a Bloomberg report<\/a>. <\/p>\n\n\n\n

The data coming from the Kremlin and government officials out of Moscow was articulated from analyzing the IP addresses of the most prominent exchange users out of the country along with various other data points, as stated by two officials from Kremlin.<\/p>\n\n\n\n

The data comes after the Russian government had decided to regulate<\/a> rather than ban cryptocurrencies. The analysis will help articulate an overview of the market to assist in their regulations and should be taken with a grain of salt because of the anonymous nature of cryptocurrencies in general.<\/p>\n\n\n\n

\u201cRussians really do have a lot of money in cryptocurrency, but it\u2019s hard to value the true amount...many people are using cash, derivative instruments, or have two passports and can open a crypto wallet in someone else\u2019s name.\u201d<\/em><\/strong><\/p>Alexander Filatov, Co-Founder and CEO of TON Labs<\/a><\/cite><\/blockquote>\n\n\n\n

The statistics offer a snapshot of how widespread cryptocurrency investing has become in Russia being the\u00a0third-biggest<\/a>\u00a0Bitcoin miner in the world, as officials at the central bank push for a blanket ban on the local industry, while the government pursues a softer approach.((https:\/\/www.bloomberg.com\/news\/articles\/2022-02-01\/russia-values-local-crypto-market-at-200-billion-as-rules-near))\u00a0<\/p>\n","post_title":"Russians Own 12% Of The Worlds Cryptocurrencies","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"russians-own-12-of-the-worlds-cryptocurrencies","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/will-russia-ban-bitcoin-likely-not-heres-why\/","post_modified":"2023-04-30 21:39:59","post_modified_gmt":"2023-04-30 11:39:59","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3439","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3341,"post_author":"1","post_date":"2022-01-31 22:09:02","post_date_gmt":"2022-01-31 11:09:02","post_content":"\n

The Russian Government has started the development of a guide that will present limitations on cryptocurrencies.<\/p>\n\n\n\n

The roadmap presented by the Russian Government and approved by Deputy Chairman Dmitry Chernyshenko will work to ease the adoption of cryptocurrencies while halting financial instability. <\/p>\n\n\n\n

It will seek to provide a regulatory framework within the cryptocurrency markets having with an emphasis on violations and dangers within the industry.<\/p>\n\n\n\n

The roadmap goes against the recently proposed blanket ban on cryptocurrencies - as per the Russian Central Bank. Suggesting that crypto-related activities such as payments, exchange, and mining be banned, as it risks financial stability for the citizens of the nation.<\/p>\n\n\n\n

What Do Russia's Regulations Entail?<\/h2>\n\n\n\n

The National Bank, through this guide, advocates having an administrative and prohibitive system for cryptocurrencies. This change of position comes after Putin demanded showing up at an agreement in regards to this.<\/p>\n\n\n\n

Putin has recognized that, although cryptocurrencies convey a specific measure of hazard coming from its volatility, digital currency mining guarantees a ton of upper hand to the country.<\/p>\n\n\n\n

Since Russia enjoys the benefit of having the option to give cheap power, it will remain the third-biggest country for crypto mining.<\/p>\n\n\n\n

\"Regulation will only provide the transparency that will ensure the protection of citizens.\"<\/strong><\/em><\/p>Ivan Chebeskov, Head Of The Financial Policy Department<\/cite><\/blockquote>\n\n\n\n

<\/p>\n","post_title":"Will Russia Ban Bitcoin? Likely Not; Here's Why...","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"will-russia-ban-bitcoin-likely-not-heres-why","to_ping":"","pinged":"","post_modified":"2023-04-11 12:56:24","post_modified_gmt":"2023-04-11 02:56:24","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3341","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"};

1 2

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n
\nhttps:\/\/twitter.com\/NFTshawty\/status\/1499020152519671813?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1499020152519671813%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fbeincrypto.com%2Fanonymous-will-pay-russian-troops-52000-in-btc-for-each-tank%2F\n<\/div><\/figure>\n\n\n\n

Anonymous vs Russia<\/h2>\n\n\n\n

Anonymous declared war against Vladimir Putin after news of the invasion<\/a>, promising \u201cunprecedented cyber-attacks from all corners of the world\u201d. <\/p>\n\n\n\n

Only two days after declaring cyber-war, they managed to collect over US$10 million from taking down 300 targets including banks, news outlets and government agencies. These funds will be used to support their new offer.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/LatestAnonPress\/status\/1497786715783798785?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1497786715783798785%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fbeincrypto.com%2Fanonymous-will-pay-russian-troops-52000-in-btc-for-each-tank%2F\n<\/div><\/figure>\n","post_title":"Anonymous Offering Russian Troops Bitcoin To Surrender Their Tanks","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"anonymous-offering-russian-troops-bitcoin-to-surrender-their-tanks","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/crypto-markets-collapse-in-reaction-to-russias-war-on-ukraine\/","post_modified":"2023-04-30 21:38:24","post_modified_gmt":"2023-04-30 11:38:24","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3758","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3684,"post_author":"1","post_date":"2022-03-01 22:27:59","post_date_gmt":"2022-03-01 11:27:59","post_content":"\n

Bitcoin<\/a>\u00a0has overtaken the Russian Ruble<\/a> in total market capitalization. <\/p>\n\n\n\n

Market analysts believe Bitcoins price surge was partly fuelled by Russians exchanging Rubles to cryptocurrencies. Along with the fact cryptocurrency serves as a store of value during times of uncertainty. <\/p>\n\n\n\n

In turn, the crash of the Ruble came after increased sanctions imposed by nations after Russia's invasion<\/a> of Ukraine. The banning of Russian banks<\/a> from the SWIFT payment system also played a major role.<\/p>\n\n\n\n

\u201cThe defining characteristics of bitcoin allows it to act as a safe haven during turbulent times.\u201d<\/p>Paolo Ardoino, CTO of BitFinex<\/cite><\/blockquote>\n\n\n\n

The Russian Ruble has hit a 30 year low, losing over 30% of its value in less than a week, 1 Russian Ruble is worth a mere US$0.01.<\/p>\n\n\n\n

\"\"
Image: Xe<\/figcaption><\/figure>\n\n\n\n

The Impact Of War On Currency<\/h2>\n\n\n\n

Russia's invasion of Ukraine has sent markets into a whirl<\/a>. Although international markets managed to recover<\/a> mere days after the initial invasion, the most affected country is still Russia themselves.<\/p>\n\n\n\n

In response to the sanctions and bans imposed on Russia, Russia's central bank more than doubled its interest rates to a crazy 20%. This was done in an effort to \"maintain financial and price stability\" stated the central bank.<\/p>\n","post_title":"Bitcoin Overtakes The Russian Ruble In Value","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"bitcoin-overtakes-russian-ruble-in-value","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/crypto-markets-collapse-in-reaction-to-russias-war-on-ukraine\/\nhttps:\/\/www.thedistributed.co\/will-russian-banks-blocked-from-swift-turn-to-crypto\/","post_modified":"2023-04-11 12:53:33","post_modified_gmt":"2023-04-11 02:53:33","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3684","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

What Is SWIFT?<\/h2>\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

Will Russia Pivot To Crypto?<\/h2>\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":3608,"post_author":"1","post_date":"2022-02-26 13:08:41","post_date_gmt":"2022-02-26 02:08:41","post_content":"\n

Kuna<\/a>, a Ukrainian-based crypto exchange has seen a huge spike in transaction volume after the news of Russia's<\/a> invasion. <\/p>\n\n\n\n

Data<\/a> from CoinGecko<\/a> shows prior to the invasion trading volumes on Thursday were around $1.5M, nearing $5M on Friday. Although trading volume has since dropped to around $2M.<\/p>\n\n\n\n

\"\"
Source: CoinGecko<\/figcaption><\/figure>\n\n\n\n

Despite global markets taking a huge hit<\/a> after the news, Ukrainians were quick to react to the news in case of an economic crisis.<\/p>\n","post_title":"Kuna, A Ukrainian Crypto Exchange Has Tripled In Volume","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"kuna-a-ukrainian-crypto-exchange-has-tripled-in-volume","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/crypto-markets-collapse-in-reaction-to-russias-war-on-ukraine\/","post_modified":"2022-02-26 22:20:07","post_modified_gmt":"2022-02-26 11:20:07","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3608","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3591,"post_author":"1","post_date":"2022-02-26 00:05:26","post_date_gmt":"2022-02-25 13:05:26","post_content":"\n

Amidst the war between Russia<\/a> and Ukraine, thousands have shown their support through Bitcoin donations to the military.<\/p>\n\n\n\n

Come Back Alive<\/a> is a Kyiv-based non-profit. Funds were donated to their Bitcoin wallet<\/a> will finance military equipment like medical kits and armor for the Ukrainian soldiers.<\/p>\n\n\n\n

Fortune reported<\/a> that $400,000 was donated after news of Russia's invasion, according to data <\/a>from blockchain and crypto analytics firm, Elliptic. Hitting over $4,000,000 today, with several contributions of over $1,000 according to Come Back Alive's director, Taras Chmut. <\/p>\n\n\n\n

\"\"<\/figure>\n\n\n\n

After originally accepting FIAT on Go Fund Me, the page has been inaccessible since Thursday. It was against Go Fund Me policies, but they stated in a blog post<\/a> that they're using their services to support military funding. Every donation sent to the original page will be sent back.<\/p>\n\n\n\n

Cryptocurrency prices have dropped<\/a> dramatically due to fears over the war, despite this support in cryptocurrencies have become one of the main ways to support various causes.<\/p>\n","post_title":"$4M+ In Bitcoin Donated To Support Ukrainian Military","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"4m-in-bitcoin-donated-to-support-ukrainian-military","to_ping":"","pinged":"","post_modified":"2023-04-30 21:39:12","post_modified_gmt":"2023-04-30 11:39:12","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3591","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3581,"post_author":"1","post_date":"2022-02-24 19:01:39","post_date_gmt":"2022-02-24 08:01:39","post_content":"\n

After Russian President, Vladamir Putin announced<\/a> a \"special military operation\" in Ukraine global markets have tanked.<\/p>\n\n\n\n

The Russian army had launched several missiles aimed at Ukraine, targeting several cities including the capital, Kyiv.<\/p>\n\n\n\n

The Bitcoin (BTC<\/a>) price has dropped 7.26% and Ethereum (ETH<\/a>) dropped 9.48% today according to CoinMarketCap<\/a>. The overall crypto market cap has dropped 8.25% to $1.58 trillion.<\/p>\n\n\n\n

\"\"
Source: CoinMarketCap<\/figcaption><\/figure>\n\n\n\n

The Communities Reactions<\/h2>\n\n\n\n

Ethereum founder Vitalik Buterin, born and raised in Russia,\u00a0tweeted<\/a> in Russian that roughly translates to <\/p>\n\n\n\n

\u201cVery upset by Putin's decision to abandon the possibility of a peaceful solution to the dispute with Ukraine and go to war instead. This is a crime against the Ukrainian and Russian people. I want to wish everyone security, although I know that there will be no security. Glory to Ukraine.\"<\/p>\n\n\n\n

\u00a0He\u00a0added<\/a>\u00a0later in English: \u201cReminder: Ethereum is neutral, but I am not.\u201d<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/VitalikButerin\/status\/1496695424387801090?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1496695424387801090%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fcointelegraph.com%2Fnews%2Fbitcoin-plunges-as-putin-announces-special-military-operation-in-ukraine\n<\/div><\/figure>\n\n\n\n

Altcoin Sherpa,\u00a0an advisor to Atlas DEX tweeted<\/a>\u00a0that \"in these situations and it's not all about the market.\"<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/AltcoinSherpa\/status\/1496685587822256130?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1496685587822256130%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fcointelegraph.com%2Fnews%2Fbitcoin-plunges-as-putin-announces-special-military-operation-in-ukraine\n<\/div><\/figure>\n","post_title":"Crypto Markets Collapse In Reaction To Russias War On Ukraine","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"crypto-markets-collapse-in-reaction-to-russias-war-on-ukraine","to_ping":"","pinged":"","post_modified":"2022-02-24 19:05:05","post_modified_gmt":"2022-02-24 08:05:05","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3581","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3453,"post_author":"1","post_date":"2022-02-12 17:06:40","post_date_gmt":"2022-02-12 06:06:40","post_content":"\n

Gy\u00f6rgy Matolcsy, the governor of the Central Bank of Hungary is supporting the proposed crypto ban by the Russian Central Bank, expressing his agreement with the proposal to ban trading and mining of cryptocurrencies.<\/p>\n\n\n\n

This comes after the recent news<\/a> that the Russian central bank was in support of banning the trading and mining of cryptocurrencies. Matolcsy stated<\/a> that \"it is clear-cut that cryptocurrencies could service illegal activities and tend to build up financial pyramids.\" <\/p>\n\n\n\n

He also added that the \"growth and market value of cryptocurrencies is defined primarily by speculative demand for future growth, which creates bubbles.\u201d Calling for unity within the EU, Matolcsy wants the EU to \"act together\" in order to preempt the building up of \"new financial pyramids and financial bubbles.\"<\/p>\n\n\n\n

It seems that he is in support of banning it from the EU, but not worldwide. \"EU citizens and companies would be allowed to own cryptocurrencies abroad and regulators will track their holdings.\" <\/p>\n\n\n\n

As Matolscy stated above, the growth and market value of cryptocurrencies is defined by speculative demand for future growth, is the support for the ban just a way to see if other countries can manage and regulate cryptocurrencies before he makes a decision on what to do, or is it another technology that isn't fully understood?<\/p>\n","post_title":"Hungarian Central Bank In Support Of Russian Crypto Ban","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"hungarian-central-bank-in-support-of-russian-crypto-ban","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/will-russia-ban-bitcoin-likely-not-heres-why\/","post_modified":"2022-02-12 17:07:44","post_modified_gmt":"2022-02-12 06:07:44","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3453","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3439,"post_author":"1","post_date":"2022-02-10 21:26:57","post_date_gmt":"2022-02-10 10:26:57","post_content":"\n

Russians own over $214 Billion worth, or 12% of the total value<\/a> of cryptocurrencies worldwide, according to a Bloomberg report<\/a>. <\/p>\n\n\n\n

The data coming from the Kremlin and government officials out of Moscow was articulated from analyzing the IP addresses of the most prominent exchange users out of the country along with various other data points, as stated by two officials from Kremlin.<\/p>\n\n\n\n

The data comes after the Russian government had decided to regulate<\/a> rather than ban cryptocurrencies. The analysis will help articulate an overview of the market to assist in their regulations and should be taken with a grain of salt because of the anonymous nature of cryptocurrencies in general.<\/p>\n\n\n\n

\u201cRussians really do have a lot of money in cryptocurrency, but it\u2019s hard to value the true amount...many people are using cash, derivative instruments, or have two passports and can open a crypto wallet in someone else\u2019s name.\u201d<\/em><\/strong><\/p>Alexander Filatov, Co-Founder and CEO of TON Labs<\/a><\/cite><\/blockquote>\n\n\n\n

The statistics offer a snapshot of how widespread cryptocurrency investing has become in Russia being the\u00a0third-biggest<\/a>\u00a0Bitcoin miner in the world, as officials at the central bank push for a blanket ban on the local industry, while the government pursues a softer approach.((https:\/\/www.bloomberg.com\/news\/articles\/2022-02-01\/russia-values-local-crypto-market-at-200-billion-as-rules-near))\u00a0<\/p>\n","post_title":"Russians Own 12% Of The Worlds Cryptocurrencies","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"russians-own-12-of-the-worlds-cryptocurrencies","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/will-russia-ban-bitcoin-likely-not-heres-why\/","post_modified":"2023-04-30 21:39:59","post_modified_gmt":"2023-04-30 11:39:59","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3439","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3341,"post_author":"1","post_date":"2022-01-31 22:09:02","post_date_gmt":"2022-01-31 11:09:02","post_content":"\n

The Russian Government has started the development of a guide that will present limitations on cryptocurrencies.<\/p>\n\n\n\n

The roadmap presented by the Russian Government and approved by Deputy Chairman Dmitry Chernyshenko will work to ease the adoption of cryptocurrencies while halting financial instability. <\/p>\n\n\n\n

It will seek to provide a regulatory framework within the cryptocurrency markets having with an emphasis on violations and dangers within the industry.<\/p>\n\n\n\n

The roadmap goes against the recently proposed blanket ban on cryptocurrencies - as per the Russian Central Bank. Suggesting that crypto-related activities such as payments, exchange, and mining be banned, as it risks financial stability for the citizens of the nation.<\/p>\n\n\n\n

What Do Russia's Regulations Entail?<\/h2>\n\n\n\n

The National Bank, through this guide, advocates having an administrative and prohibitive system for cryptocurrencies. This change of position comes after Putin demanded showing up at an agreement in regards to this.<\/p>\n\n\n\n

Putin has recognized that, although cryptocurrencies convey a specific measure of hazard coming from its volatility, digital currency mining guarantees a ton of upper hand to the country.<\/p>\n\n\n\n

Since Russia enjoys the benefit of having the option to give cheap power, it will remain the third-biggest country for crypto mining.<\/p>\n\n\n\n

\"Regulation will only provide the transparency that will ensure the protection of citizens.\"<\/strong><\/em><\/p>Ivan Chebeskov, Head Of The Financial Policy Department<\/cite><\/blockquote>\n\n\n\n

<\/p>\n","post_title":"Will Russia Ban Bitcoin? Likely Not; Here's Why...","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"will-russia-ban-bitcoin-likely-not-heres-why","to_ping":"","pinged":"","post_modified":"2023-04-11 12:56:24","post_modified_gmt":"2023-04-11 02:56:24","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3341","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"};

1 2

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

It seems that Ukrainian farmers have taken anonymous up on their offer, stealing a tank from Russian soldiers!<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/NFTshawty\/status\/1499020152519671813?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1499020152519671813%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fbeincrypto.com%2Fanonymous-will-pay-russian-troops-52000-in-btc-for-each-tank%2F\n<\/div><\/figure>\n\n\n\n

Anonymous vs Russia<\/h2>\n\n\n\n

Anonymous declared war against Vladimir Putin after news of the invasion<\/a>, promising \u201cunprecedented cyber-attacks from all corners of the world\u201d. <\/p>\n\n\n\n

Only two days after declaring cyber-war, they managed to collect over US$10 million from taking down 300 targets including banks, news outlets and government agencies. These funds will be used to support their new offer.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/LatestAnonPress\/status\/1497786715783798785?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1497786715783798785%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fbeincrypto.com%2Fanonymous-will-pay-russian-troops-52000-in-btc-for-each-tank%2F\n<\/div><\/figure>\n","post_title":"Anonymous Offering Russian Troops Bitcoin To Surrender Their Tanks","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"anonymous-offering-russian-troops-bitcoin-to-surrender-their-tanks","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/crypto-markets-collapse-in-reaction-to-russias-war-on-ukraine\/","post_modified":"2023-04-30 21:38:24","post_modified_gmt":"2023-04-30 11:38:24","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3758","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3684,"post_author":"1","post_date":"2022-03-01 22:27:59","post_date_gmt":"2022-03-01 11:27:59","post_content":"\n

Bitcoin<\/a>\u00a0has overtaken the Russian Ruble<\/a> in total market capitalization. <\/p>\n\n\n\n

Market analysts believe Bitcoins price surge was partly fuelled by Russians exchanging Rubles to cryptocurrencies. Along with the fact cryptocurrency serves as a store of value during times of uncertainty. <\/p>\n\n\n\n

In turn, the crash of the Ruble came after increased sanctions imposed by nations after Russia's invasion<\/a> of Ukraine. The banning of Russian banks<\/a> from the SWIFT payment system also played a major role.<\/p>\n\n\n\n

\u201cThe defining characteristics of bitcoin allows it to act as a safe haven during turbulent times.\u201d<\/p>Paolo Ardoino, CTO of BitFinex<\/cite><\/blockquote>\n\n\n\n

The Russian Ruble has hit a 30 year low, losing over 30% of its value in less than a week, 1 Russian Ruble is worth a mere US$0.01.<\/p>\n\n\n\n

\"\"
Image: Xe<\/figcaption><\/figure>\n\n\n\n

The Impact Of War On Currency<\/h2>\n\n\n\n

Russia's invasion of Ukraine has sent markets into a whirl<\/a>. Although international markets managed to recover<\/a> mere days after the initial invasion, the most affected country is still Russia themselves.<\/p>\n\n\n\n

In response to the sanctions and bans imposed on Russia, Russia's central bank more than doubled its interest rates to a crazy 20%. This was done in an effort to \"maintain financial and price stability\" stated the central bank.<\/p>\n","post_title":"Bitcoin Overtakes The Russian Ruble In Value","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"bitcoin-overtakes-russian-ruble-in-value","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/crypto-markets-collapse-in-reaction-to-russias-war-on-ukraine\/\nhttps:\/\/www.thedistributed.co\/will-russian-banks-blocked-from-swift-turn-to-crypto\/","post_modified":"2023-04-11 12:53:33","post_modified_gmt":"2023-04-11 02:53:33","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3684","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

What Is SWIFT?<\/h2>\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

Will Russia Pivot To Crypto?<\/h2>\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":3608,"post_author":"1","post_date":"2022-02-26 13:08:41","post_date_gmt":"2022-02-26 02:08:41","post_content":"\n

Kuna<\/a>, a Ukrainian-based crypto exchange has seen a huge spike in transaction volume after the news of Russia's<\/a> invasion. <\/p>\n\n\n\n

Data<\/a> from CoinGecko<\/a> shows prior to the invasion trading volumes on Thursday were around $1.5M, nearing $5M on Friday. Although trading volume has since dropped to around $2M.<\/p>\n\n\n\n

\"\"
Source: CoinGecko<\/figcaption><\/figure>\n\n\n\n

Despite global markets taking a huge hit<\/a> after the news, Ukrainians were quick to react to the news in case of an economic crisis.<\/p>\n","post_title":"Kuna, A Ukrainian Crypto Exchange Has Tripled In Volume","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"kuna-a-ukrainian-crypto-exchange-has-tripled-in-volume","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/crypto-markets-collapse-in-reaction-to-russias-war-on-ukraine\/","post_modified":"2022-02-26 22:20:07","post_modified_gmt":"2022-02-26 11:20:07","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3608","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3591,"post_author":"1","post_date":"2022-02-26 00:05:26","post_date_gmt":"2022-02-25 13:05:26","post_content":"\n

Amidst the war between Russia<\/a> and Ukraine, thousands have shown their support through Bitcoin donations to the military.<\/p>\n\n\n\n

Come Back Alive<\/a> is a Kyiv-based non-profit. Funds were donated to their Bitcoin wallet<\/a> will finance military equipment like medical kits and armor for the Ukrainian soldiers.<\/p>\n\n\n\n

Fortune reported<\/a> that $400,000 was donated after news of Russia's invasion, according to data <\/a>from blockchain and crypto analytics firm, Elliptic. Hitting over $4,000,000 today, with several contributions of over $1,000 according to Come Back Alive's director, Taras Chmut. <\/p>\n\n\n\n

\"\"<\/figure>\n\n\n\n

After originally accepting FIAT on Go Fund Me, the page has been inaccessible since Thursday. It was against Go Fund Me policies, but they stated in a blog post<\/a> that they're using their services to support military funding. Every donation sent to the original page will be sent back.<\/p>\n\n\n\n

Cryptocurrency prices have dropped<\/a> dramatically due to fears over the war, despite this support in cryptocurrencies have become one of the main ways to support various causes.<\/p>\n","post_title":"$4M+ In Bitcoin Donated To Support Ukrainian Military","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"4m-in-bitcoin-donated-to-support-ukrainian-military","to_ping":"","pinged":"","post_modified":"2023-04-30 21:39:12","post_modified_gmt":"2023-04-30 11:39:12","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3591","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3581,"post_author":"1","post_date":"2022-02-24 19:01:39","post_date_gmt":"2022-02-24 08:01:39","post_content":"\n

After Russian President, Vladamir Putin announced<\/a> a \"special military operation\" in Ukraine global markets have tanked.<\/p>\n\n\n\n

The Russian army had launched several missiles aimed at Ukraine, targeting several cities including the capital, Kyiv.<\/p>\n\n\n\n

The Bitcoin (BTC<\/a>) price has dropped 7.26% and Ethereum (ETH<\/a>) dropped 9.48% today according to CoinMarketCap<\/a>. The overall crypto market cap has dropped 8.25% to $1.58 trillion.<\/p>\n\n\n\n

\"\"
Source: CoinMarketCap<\/figcaption><\/figure>\n\n\n\n

The Communities Reactions<\/h2>\n\n\n\n

Ethereum founder Vitalik Buterin, born and raised in Russia,\u00a0tweeted<\/a> in Russian that roughly translates to <\/p>\n\n\n\n

\u201cVery upset by Putin's decision to abandon the possibility of a peaceful solution to the dispute with Ukraine and go to war instead. This is a crime against the Ukrainian and Russian people. I want to wish everyone security, although I know that there will be no security. Glory to Ukraine.\"<\/p>\n\n\n\n

\u00a0He\u00a0added<\/a>\u00a0later in English: \u201cReminder: Ethereum is neutral, but I am not.\u201d<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/VitalikButerin\/status\/1496695424387801090?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1496695424387801090%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fcointelegraph.com%2Fnews%2Fbitcoin-plunges-as-putin-announces-special-military-operation-in-ukraine\n<\/div><\/figure>\n\n\n\n

Altcoin Sherpa,\u00a0an advisor to Atlas DEX tweeted<\/a>\u00a0that \"in these situations and it's not all about the market.\"<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/AltcoinSherpa\/status\/1496685587822256130?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1496685587822256130%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fcointelegraph.com%2Fnews%2Fbitcoin-plunges-as-putin-announces-special-military-operation-in-ukraine\n<\/div><\/figure>\n","post_title":"Crypto Markets Collapse In Reaction To Russias War On Ukraine","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"crypto-markets-collapse-in-reaction-to-russias-war-on-ukraine","to_ping":"","pinged":"","post_modified":"2022-02-24 19:05:05","post_modified_gmt":"2022-02-24 08:05:05","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3581","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3453,"post_author":"1","post_date":"2022-02-12 17:06:40","post_date_gmt":"2022-02-12 06:06:40","post_content":"\n

Gy\u00f6rgy Matolcsy, the governor of the Central Bank of Hungary is supporting the proposed crypto ban by the Russian Central Bank, expressing his agreement with the proposal to ban trading and mining of cryptocurrencies.<\/p>\n\n\n\n

This comes after the recent news<\/a> that the Russian central bank was in support of banning the trading and mining of cryptocurrencies. Matolcsy stated<\/a> that \"it is clear-cut that cryptocurrencies could service illegal activities and tend to build up financial pyramids.\" <\/p>\n\n\n\n

He also added that the \"growth and market value of cryptocurrencies is defined primarily by speculative demand for future growth, which creates bubbles.\u201d Calling for unity within the EU, Matolcsy wants the EU to \"act together\" in order to preempt the building up of \"new financial pyramids and financial bubbles.\"<\/p>\n\n\n\n

It seems that he is in support of banning it from the EU, but not worldwide. \"EU citizens and companies would be allowed to own cryptocurrencies abroad and regulators will track their holdings.\" <\/p>\n\n\n\n

As Matolscy stated above, the growth and market value of cryptocurrencies is defined by speculative demand for future growth, is the support for the ban just a way to see if other countries can manage and regulate cryptocurrencies before he makes a decision on what to do, or is it another technology that isn't fully understood?<\/p>\n","post_title":"Hungarian Central Bank In Support Of Russian Crypto Ban","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"hungarian-central-bank-in-support-of-russian-crypto-ban","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/will-russia-ban-bitcoin-likely-not-heres-why\/","post_modified":"2022-02-12 17:07:44","post_modified_gmt":"2022-02-12 06:07:44","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3453","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3439,"post_author":"1","post_date":"2022-02-10 21:26:57","post_date_gmt":"2022-02-10 10:26:57","post_content":"\n

Russians own over $214 Billion worth, or 12% of the total value<\/a> of cryptocurrencies worldwide, according to a Bloomberg report<\/a>. <\/p>\n\n\n\n

The data coming from the Kremlin and government officials out of Moscow was articulated from analyzing the IP addresses of the most prominent exchange users out of the country along with various other data points, as stated by two officials from Kremlin.<\/p>\n\n\n\n

The data comes after the Russian government had decided to regulate<\/a> rather than ban cryptocurrencies. The analysis will help articulate an overview of the market to assist in their regulations and should be taken with a grain of salt because of the anonymous nature of cryptocurrencies in general.<\/p>\n\n\n\n

\u201cRussians really do have a lot of money in cryptocurrency, but it\u2019s hard to value the true amount...many people are using cash, derivative instruments, or have two passports and can open a crypto wallet in someone else\u2019s name.\u201d<\/em><\/strong><\/p>Alexander Filatov, Co-Founder and CEO of TON Labs<\/a><\/cite><\/blockquote>\n\n\n\n

The statistics offer a snapshot of how widespread cryptocurrency investing has become in Russia being the\u00a0third-biggest<\/a>\u00a0Bitcoin miner in the world, as officials at the central bank push for a blanket ban on the local industry, while the government pursues a softer approach.((https:\/\/www.bloomberg.com\/news\/articles\/2022-02-01\/russia-values-local-crypto-market-at-200-billion-as-rules-near))\u00a0<\/p>\n","post_title":"Russians Own 12% Of The Worlds Cryptocurrencies","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"russians-own-12-of-the-worlds-cryptocurrencies","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/will-russia-ban-bitcoin-likely-not-heres-why\/","post_modified":"2023-04-30 21:39:59","post_modified_gmt":"2023-04-30 11:39:59","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3439","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3341,"post_author":"1","post_date":"2022-01-31 22:09:02","post_date_gmt":"2022-01-31 11:09:02","post_content":"\n

The Russian Government has started the development of a guide that will present limitations on cryptocurrencies.<\/p>\n\n\n\n

The roadmap presented by the Russian Government and approved by Deputy Chairman Dmitry Chernyshenko will work to ease the adoption of cryptocurrencies while halting financial instability. <\/p>\n\n\n\n

It will seek to provide a regulatory framework within the cryptocurrency markets having with an emphasis on violations and dangers within the industry.<\/p>\n\n\n\n

The roadmap goes against the recently proposed blanket ban on cryptocurrencies - as per the Russian Central Bank. Suggesting that crypto-related activities such as payments, exchange, and mining be banned, as it risks financial stability for the citizens of the nation.<\/p>\n\n\n\n

What Do Russia's Regulations Entail?<\/h2>\n\n\n\n

The National Bank, through this guide, advocates having an administrative and prohibitive system for cryptocurrencies. This change of position comes after Putin demanded showing up at an agreement in regards to this.<\/p>\n\n\n\n

Putin has recognized that, although cryptocurrencies convey a specific measure of hazard coming from its volatility, digital currency mining guarantees a ton of upper hand to the country.<\/p>\n\n\n\n

Since Russia enjoys the benefit of having the option to give cheap power, it will remain the third-biggest country for crypto mining.<\/p>\n\n\n\n

\"Regulation will only provide the transparency that will ensure the protection of citizens.\"<\/strong><\/em><\/p>Ivan Chebeskov, Head Of The Financial Policy Department<\/cite><\/blockquote>\n\n\n\n

<\/p>\n","post_title":"Will Russia Ban Bitcoin? Likely Not; Here's Why...","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"will-russia-ban-bitcoin-likely-not-heres-why","to_ping":"","pinged":"","post_modified":"2023-04-11 12:56:24","post_modified_gmt":"2023-04-11 02:56:24","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3341","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"};

1 2

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

\"Russian soldiers, everyone who wants to live with their families, children, and not die, the Anonymous global community has collected RUB 1,225,043 in bitcoin to help you.\"<\/em><\/p>Anonymous<\/cite><\/blockquote>\n\n\n\n

It seems that Ukrainian farmers have taken anonymous up on their offer, stealing a tank from Russian soldiers!<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/NFTshawty\/status\/1499020152519671813?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1499020152519671813%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fbeincrypto.com%2Fanonymous-will-pay-russian-troops-52000-in-btc-for-each-tank%2F\n<\/div><\/figure>\n\n\n\n

Anonymous vs Russia<\/h2>\n\n\n\n

Anonymous declared war against Vladimir Putin after news of the invasion<\/a>, promising \u201cunprecedented cyber-attacks from all corners of the world\u201d. <\/p>\n\n\n\n

Only two days after declaring cyber-war, they managed to collect over US$10 million from taking down 300 targets including banks, news outlets and government agencies. These funds will be used to support their new offer.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/LatestAnonPress\/status\/1497786715783798785?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1497786715783798785%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fbeincrypto.com%2Fanonymous-will-pay-russian-troops-52000-in-btc-for-each-tank%2F\n<\/div><\/figure>\n","post_title":"Anonymous Offering Russian Troops Bitcoin To Surrender Their Tanks","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"anonymous-offering-russian-troops-bitcoin-to-surrender-their-tanks","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/crypto-markets-collapse-in-reaction-to-russias-war-on-ukraine\/","post_modified":"2023-04-30 21:38:24","post_modified_gmt":"2023-04-30 11:38:24","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3758","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3684,"post_author":"1","post_date":"2022-03-01 22:27:59","post_date_gmt":"2022-03-01 11:27:59","post_content":"\n

Bitcoin<\/a>\u00a0has overtaken the Russian Ruble<\/a> in total market capitalization. <\/p>\n\n\n\n

Market analysts believe Bitcoins price surge was partly fuelled by Russians exchanging Rubles to cryptocurrencies. Along with the fact cryptocurrency serves as a store of value during times of uncertainty. <\/p>\n\n\n\n

In turn, the crash of the Ruble came after increased sanctions imposed by nations after Russia's invasion<\/a> of Ukraine. The banning of Russian banks<\/a> from the SWIFT payment system also played a major role.<\/p>\n\n\n\n

\u201cThe defining characteristics of bitcoin allows it to act as a safe haven during turbulent times.\u201d<\/p>Paolo Ardoino, CTO of BitFinex<\/cite><\/blockquote>\n\n\n\n

The Russian Ruble has hit a 30 year low, losing over 30% of its value in less than a week, 1 Russian Ruble is worth a mere US$0.01.<\/p>\n\n\n\n

\"\"
Image: Xe<\/figcaption><\/figure>\n\n\n\n

The Impact Of War On Currency<\/h2>\n\n\n\n

Russia's invasion of Ukraine has sent markets into a whirl<\/a>. Although international markets managed to recover<\/a> mere days after the initial invasion, the most affected country is still Russia themselves.<\/p>\n\n\n\n

In response to the sanctions and bans imposed on Russia, Russia's central bank more than doubled its interest rates to a crazy 20%. This was done in an effort to \"maintain financial and price stability\" stated the central bank.<\/p>\n","post_title":"Bitcoin Overtakes The Russian Ruble In Value","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"bitcoin-overtakes-russian-ruble-in-value","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/crypto-markets-collapse-in-reaction-to-russias-war-on-ukraine\/\nhttps:\/\/www.thedistributed.co\/will-russian-banks-blocked-from-swift-turn-to-crypto\/","post_modified":"2023-04-11 12:53:33","post_modified_gmt":"2023-04-11 02:53:33","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3684","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

What Is SWIFT?<\/h2>\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

Will Russia Pivot To Crypto?<\/h2>\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":3608,"post_author":"1","post_date":"2022-02-26 13:08:41","post_date_gmt":"2022-02-26 02:08:41","post_content":"\n

Kuna<\/a>, a Ukrainian-based crypto exchange has seen a huge spike in transaction volume after the news of Russia's<\/a> invasion. <\/p>\n\n\n\n

Data<\/a> from CoinGecko<\/a> shows prior to the invasion trading volumes on Thursday were around $1.5M, nearing $5M on Friday. Although trading volume has since dropped to around $2M.<\/p>\n\n\n\n

\"\"
Source: CoinGecko<\/figcaption><\/figure>\n\n\n\n

Despite global markets taking a huge hit<\/a> after the news, Ukrainians were quick to react to the news in case of an economic crisis.<\/p>\n","post_title":"Kuna, A Ukrainian Crypto Exchange Has Tripled In Volume","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"kuna-a-ukrainian-crypto-exchange-has-tripled-in-volume","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/crypto-markets-collapse-in-reaction-to-russias-war-on-ukraine\/","post_modified":"2022-02-26 22:20:07","post_modified_gmt":"2022-02-26 11:20:07","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3608","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3591,"post_author":"1","post_date":"2022-02-26 00:05:26","post_date_gmt":"2022-02-25 13:05:26","post_content":"\n

Amidst the war between Russia<\/a> and Ukraine, thousands have shown their support through Bitcoin donations to the military.<\/p>\n\n\n\n

Come Back Alive<\/a> is a Kyiv-based non-profit. Funds were donated to their Bitcoin wallet<\/a> will finance military equipment like medical kits and armor for the Ukrainian soldiers.<\/p>\n\n\n\n

Fortune reported<\/a> that $400,000 was donated after news of Russia's invasion, according to data <\/a>from blockchain and crypto analytics firm, Elliptic. Hitting over $4,000,000 today, with several contributions of over $1,000 according to Come Back Alive's director, Taras Chmut. <\/p>\n\n\n\n

\"\"<\/figure>\n\n\n\n

After originally accepting FIAT on Go Fund Me, the page has been inaccessible since Thursday. It was against Go Fund Me policies, but they stated in a blog post<\/a> that they're using their services to support military funding. Every donation sent to the original page will be sent back.<\/p>\n\n\n\n

Cryptocurrency prices have dropped<\/a> dramatically due to fears over the war, despite this support in cryptocurrencies have become one of the main ways to support various causes.<\/p>\n","post_title":"$4M+ In Bitcoin Donated To Support Ukrainian Military","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"4m-in-bitcoin-donated-to-support-ukrainian-military","to_ping":"","pinged":"","post_modified":"2023-04-30 21:39:12","post_modified_gmt":"2023-04-30 11:39:12","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3591","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3581,"post_author":"1","post_date":"2022-02-24 19:01:39","post_date_gmt":"2022-02-24 08:01:39","post_content":"\n

After Russian President, Vladamir Putin announced<\/a> a \"special military operation\" in Ukraine global markets have tanked.<\/p>\n\n\n\n

The Russian army had launched several missiles aimed at Ukraine, targeting several cities including the capital, Kyiv.<\/p>\n\n\n\n

The Bitcoin (BTC<\/a>) price has dropped 7.26% and Ethereum (ETH<\/a>) dropped 9.48% today according to CoinMarketCap<\/a>. The overall crypto market cap has dropped 8.25% to $1.58 trillion.<\/p>\n\n\n\n

\"\"
Source: CoinMarketCap<\/figcaption><\/figure>\n\n\n\n

The Communities Reactions<\/h2>\n\n\n\n

Ethereum founder Vitalik Buterin, born and raised in Russia,\u00a0tweeted<\/a> in Russian that roughly translates to <\/p>\n\n\n\n

\u201cVery upset by Putin's decision to abandon the possibility of a peaceful solution to the dispute with Ukraine and go to war instead. This is a crime against the Ukrainian and Russian people. I want to wish everyone security, although I know that there will be no security. Glory to Ukraine.\"<\/p>\n\n\n\n

\u00a0He\u00a0added<\/a>\u00a0later in English: \u201cReminder: Ethereum is neutral, but I am not.\u201d<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/VitalikButerin\/status\/1496695424387801090?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1496695424387801090%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fcointelegraph.com%2Fnews%2Fbitcoin-plunges-as-putin-announces-special-military-operation-in-ukraine\n<\/div><\/figure>\n\n\n\n

Altcoin Sherpa,\u00a0an advisor to Atlas DEX tweeted<\/a>\u00a0that \"in these situations and it's not all about the market.\"<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/AltcoinSherpa\/status\/1496685587822256130?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1496685587822256130%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fcointelegraph.com%2Fnews%2Fbitcoin-plunges-as-putin-announces-special-military-operation-in-ukraine\n<\/div><\/figure>\n","post_title":"Crypto Markets Collapse In Reaction To Russias War On Ukraine","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"crypto-markets-collapse-in-reaction-to-russias-war-on-ukraine","to_ping":"","pinged":"","post_modified":"2022-02-24 19:05:05","post_modified_gmt":"2022-02-24 08:05:05","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3581","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3453,"post_author":"1","post_date":"2022-02-12 17:06:40","post_date_gmt":"2022-02-12 06:06:40","post_content":"\n

Gy\u00f6rgy Matolcsy, the governor of the Central Bank of Hungary is supporting the proposed crypto ban by the Russian Central Bank, expressing his agreement with the proposal to ban trading and mining of cryptocurrencies.<\/p>\n\n\n\n

This comes after the recent news<\/a> that the Russian central bank was in support of banning the trading and mining of cryptocurrencies. Matolcsy stated<\/a> that \"it is clear-cut that cryptocurrencies could service illegal activities and tend to build up financial pyramids.\" <\/p>\n\n\n\n

He also added that the \"growth and market value of cryptocurrencies is defined primarily by speculative demand for future growth, which creates bubbles.\u201d Calling for unity within the EU, Matolcsy wants the EU to \"act together\" in order to preempt the building up of \"new financial pyramids and financial bubbles.\"<\/p>\n\n\n\n

It seems that he is in support of banning it from the EU, but not worldwide. \"EU citizens and companies would be allowed to own cryptocurrencies abroad and regulators will track their holdings.\" <\/p>\n\n\n\n

As Matolscy stated above, the growth and market value of cryptocurrencies is defined by speculative demand for future growth, is the support for the ban just a way to see if other countries can manage and regulate cryptocurrencies before he makes a decision on what to do, or is it another technology that isn't fully understood?<\/p>\n","post_title":"Hungarian Central Bank In Support Of Russian Crypto Ban","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"hungarian-central-bank-in-support-of-russian-crypto-ban","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/will-russia-ban-bitcoin-likely-not-heres-why\/","post_modified":"2022-02-12 17:07:44","post_modified_gmt":"2022-02-12 06:07:44","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3453","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3439,"post_author":"1","post_date":"2022-02-10 21:26:57","post_date_gmt":"2022-02-10 10:26:57","post_content":"\n

Russians own over $214 Billion worth, or 12% of the total value<\/a> of cryptocurrencies worldwide, according to a Bloomberg report<\/a>. <\/p>\n\n\n\n

The data coming from the Kremlin and government officials out of Moscow was articulated from analyzing the IP addresses of the most prominent exchange users out of the country along with various other data points, as stated by two officials from Kremlin.<\/p>\n\n\n\n

The data comes after the Russian government had decided to regulate<\/a> rather than ban cryptocurrencies. The analysis will help articulate an overview of the market to assist in their regulations and should be taken with a grain of salt because of the anonymous nature of cryptocurrencies in general.<\/p>\n\n\n\n

\u201cRussians really do have a lot of money in cryptocurrency, but it\u2019s hard to value the true amount...many people are using cash, derivative instruments, or have two passports and can open a crypto wallet in someone else\u2019s name.\u201d<\/em><\/strong><\/p>Alexander Filatov, Co-Founder and CEO of TON Labs<\/a><\/cite><\/blockquote>\n\n\n\n

The statistics offer a snapshot of how widespread cryptocurrency investing has become in Russia being the\u00a0third-biggest<\/a>\u00a0Bitcoin miner in the world, as officials at the central bank push for a blanket ban on the local industry, while the government pursues a softer approach.((https:\/\/www.bloomberg.com\/news\/articles\/2022-02-01\/russia-values-local-crypto-market-at-200-billion-as-rules-near))\u00a0<\/p>\n","post_title":"Russians Own 12% Of The Worlds Cryptocurrencies","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"russians-own-12-of-the-worlds-cryptocurrencies","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/will-russia-ban-bitcoin-likely-not-heres-why\/","post_modified":"2023-04-30 21:39:59","post_modified_gmt":"2023-04-30 11:39:59","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3439","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3341,"post_author":"1","post_date":"2022-01-31 22:09:02","post_date_gmt":"2022-01-31 11:09:02","post_content":"\n

The Russian Government has started the development of a guide that will present limitations on cryptocurrencies.<\/p>\n\n\n\n

The roadmap presented by the Russian Government and approved by Deputy Chairman Dmitry Chernyshenko will work to ease the adoption of cryptocurrencies while halting financial instability. <\/p>\n\n\n\n

It will seek to provide a regulatory framework within the cryptocurrency markets having with an emphasis on violations and dangers within the industry.<\/p>\n\n\n\n

The roadmap goes against the recently proposed blanket ban on cryptocurrencies - as per the Russian Central Bank. Suggesting that crypto-related activities such as payments, exchange, and mining be banned, as it risks financial stability for the citizens of the nation.<\/p>\n\n\n\n

What Do Russia's Regulations Entail?<\/h2>\n\n\n\n

The National Bank, through this guide, advocates having an administrative and prohibitive system for cryptocurrencies. This change of position comes after Putin demanded showing up at an agreement in regards to this.<\/p>\n\n\n\n

Putin has recognized that, although cryptocurrencies convey a specific measure of hazard coming from its volatility, digital currency mining guarantees a ton of upper hand to the country.<\/p>\n\n\n\n

Since Russia enjoys the benefit of having the option to give cheap power, it will remain the third-biggest country for crypto mining.<\/p>\n\n\n\n

\"Regulation will only provide the transparency that will ensure the protection of citizens.\"<\/strong><\/em><\/p>Ivan Chebeskov, Head Of The Financial Policy Department<\/cite><\/blockquote>\n\n\n\n

<\/p>\n","post_title":"Will Russia Ban Bitcoin? Likely Not; Here's Why...","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"will-russia-ban-bitcoin-likely-not-heres-why","to_ping":"","pinged":"","post_modified":"2023-04-11 12:56:24","post_modified_gmt":"2023-04-11 02:56:24","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3341","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"};

1 2

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

Russian troops were advised by Anonymous to surrender with a white flag and use the password \u2018million\u2019 to show that they accept the terms. The Ministry of Defence of\u00a0Ukraine<\/a>\u00a0has also reportedly said that it will pardon those who surrender.<\/p>\n\n\n\n

\"Russian soldiers, everyone who wants to live with their families, children, and not die, the Anonymous global community has collected RUB 1,225,043 in bitcoin to help you.\"<\/em><\/p>Anonymous<\/cite><\/blockquote>\n\n\n\n

It seems that Ukrainian farmers have taken anonymous up on their offer, stealing a tank from Russian soldiers!<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/NFTshawty\/status\/1499020152519671813?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1499020152519671813%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fbeincrypto.com%2Fanonymous-will-pay-russian-troops-52000-in-btc-for-each-tank%2F\n<\/div><\/figure>\n\n\n\n

Anonymous vs Russia<\/h2>\n\n\n\n

Anonymous declared war against Vladimir Putin after news of the invasion<\/a>, promising \u201cunprecedented cyber-attacks from all corners of the world\u201d. <\/p>\n\n\n\n

Only two days after declaring cyber-war, they managed to collect over US$10 million from taking down 300 targets including banks, news outlets and government agencies. These funds will be used to support their new offer.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/LatestAnonPress\/status\/1497786715783798785?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1497786715783798785%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fbeincrypto.com%2Fanonymous-will-pay-russian-troops-52000-in-btc-for-each-tank%2F\n<\/div><\/figure>\n","post_title":"Anonymous Offering Russian Troops Bitcoin To Surrender Their Tanks","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"anonymous-offering-russian-troops-bitcoin-to-surrender-their-tanks","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/crypto-markets-collapse-in-reaction-to-russias-war-on-ukraine\/","post_modified":"2023-04-30 21:38:24","post_modified_gmt":"2023-04-30 11:38:24","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3758","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3684,"post_author":"1","post_date":"2022-03-01 22:27:59","post_date_gmt":"2022-03-01 11:27:59","post_content":"\n

Bitcoin<\/a>\u00a0has overtaken the Russian Ruble<\/a> in total market capitalization. <\/p>\n\n\n\n

Market analysts believe Bitcoins price surge was partly fuelled by Russians exchanging Rubles to cryptocurrencies. Along with the fact cryptocurrency serves as a store of value during times of uncertainty. <\/p>\n\n\n\n

In turn, the crash of the Ruble came after increased sanctions imposed by nations after Russia's invasion<\/a> of Ukraine. The banning of Russian banks<\/a> from the SWIFT payment system also played a major role.<\/p>\n\n\n\n

\u201cThe defining characteristics of bitcoin allows it to act as a safe haven during turbulent times.\u201d<\/p>Paolo Ardoino, CTO of BitFinex<\/cite><\/blockquote>\n\n\n\n

The Russian Ruble has hit a 30 year low, losing over 30% of its value in less than a week, 1 Russian Ruble is worth a mere US$0.01.<\/p>\n\n\n\n

\"\"
Image: Xe<\/figcaption><\/figure>\n\n\n\n

The Impact Of War On Currency<\/h2>\n\n\n\n

Russia's invasion of Ukraine has sent markets into a whirl<\/a>. Although international markets managed to recover<\/a> mere days after the initial invasion, the most affected country is still Russia themselves.<\/p>\n\n\n\n

In response to the sanctions and bans imposed on Russia, Russia's central bank more than doubled its interest rates to a crazy 20%. This was done in an effort to \"maintain financial and price stability\" stated the central bank.<\/p>\n","post_title":"Bitcoin Overtakes The Russian Ruble In Value","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"bitcoin-overtakes-russian-ruble-in-value","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/crypto-markets-collapse-in-reaction-to-russias-war-on-ukraine\/\nhttps:\/\/www.thedistributed.co\/will-russian-banks-blocked-from-swift-turn-to-crypto\/","post_modified":"2023-04-11 12:53:33","post_modified_gmt":"2023-04-11 02:53:33","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3684","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

What Is SWIFT?<\/h2>\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

Will Russia Pivot To Crypto?<\/h2>\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":3608,"post_author":"1","post_date":"2022-02-26 13:08:41","post_date_gmt":"2022-02-26 02:08:41","post_content":"\n

Kuna<\/a>, a Ukrainian-based crypto exchange has seen a huge spike in transaction volume after the news of Russia's<\/a> invasion. <\/p>\n\n\n\n

Data<\/a> from CoinGecko<\/a> shows prior to the invasion trading volumes on Thursday were around $1.5M, nearing $5M on Friday. Although trading volume has since dropped to around $2M.<\/p>\n\n\n\n

\"\"
Source: CoinGecko<\/figcaption><\/figure>\n\n\n\n

Despite global markets taking a huge hit<\/a> after the news, Ukrainians were quick to react to the news in case of an economic crisis.<\/p>\n","post_title":"Kuna, A Ukrainian Crypto Exchange Has Tripled In Volume","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"kuna-a-ukrainian-crypto-exchange-has-tripled-in-volume","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/crypto-markets-collapse-in-reaction-to-russias-war-on-ukraine\/","post_modified":"2022-02-26 22:20:07","post_modified_gmt":"2022-02-26 11:20:07","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3608","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3591,"post_author":"1","post_date":"2022-02-26 00:05:26","post_date_gmt":"2022-02-25 13:05:26","post_content":"\n

Amidst the war between Russia<\/a> and Ukraine, thousands have shown their support through Bitcoin donations to the military.<\/p>\n\n\n\n

Come Back Alive<\/a> is a Kyiv-based non-profit. Funds were donated to their Bitcoin wallet<\/a> will finance military equipment like medical kits and armor for the Ukrainian soldiers.<\/p>\n\n\n\n

Fortune reported<\/a> that $400,000 was donated after news of Russia's invasion, according to data <\/a>from blockchain and crypto analytics firm, Elliptic. Hitting over $4,000,000 today, with several contributions of over $1,000 according to Come Back Alive's director, Taras Chmut. <\/p>\n\n\n\n

\"\"<\/figure>\n\n\n\n

After originally accepting FIAT on Go Fund Me, the page has been inaccessible since Thursday. It was against Go Fund Me policies, but they stated in a blog post<\/a> that they're using their services to support military funding. Every donation sent to the original page will be sent back.<\/p>\n\n\n\n

Cryptocurrency prices have dropped<\/a> dramatically due to fears over the war, despite this support in cryptocurrencies have become one of the main ways to support various causes.<\/p>\n","post_title":"$4M+ In Bitcoin Donated To Support Ukrainian Military","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"4m-in-bitcoin-donated-to-support-ukrainian-military","to_ping":"","pinged":"","post_modified":"2023-04-30 21:39:12","post_modified_gmt":"2023-04-30 11:39:12","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3591","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3581,"post_author":"1","post_date":"2022-02-24 19:01:39","post_date_gmt":"2022-02-24 08:01:39","post_content":"\n

After Russian President, Vladamir Putin announced<\/a> a \"special military operation\" in Ukraine global markets have tanked.<\/p>\n\n\n\n

The Russian army had launched several missiles aimed at Ukraine, targeting several cities including the capital, Kyiv.<\/p>\n\n\n\n

The Bitcoin (BTC<\/a>) price has dropped 7.26% and Ethereum (ETH<\/a>) dropped 9.48% today according to CoinMarketCap<\/a>. The overall crypto market cap has dropped 8.25% to $1.58 trillion.<\/p>\n\n\n\n

\"\"
Source: CoinMarketCap<\/figcaption><\/figure>\n\n\n\n

The Communities Reactions<\/h2>\n\n\n\n

Ethereum founder Vitalik Buterin, born and raised in Russia,\u00a0tweeted<\/a> in Russian that roughly translates to <\/p>\n\n\n\n

\u201cVery upset by Putin's decision to abandon the possibility of a peaceful solution to the dispute with Ukraine and go to war instead. This is a crime against the Ukrainian and Russian people. I want to wish everyone security, although I know that there will be no security. Glory to Ukraine.\"<\/p>\n\n\n\n

\u00a0He\u00a0added<\/a>\u00a0later in English: \u201cReminder: Ethereum is neutral, but I am not.\u201d<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/VitalikButerin\/status\/1496695424387801090?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1496695424387801090%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fcointelegraph.com%2Fnews%2Fbitcoin-plunges-as-putin-announces-special-military-operation-in-ukraine\n<\/div><\/figure>\n\n\n\n

Altcoin Sherpa,\u00a0an advisor to Atlas DEX tweeted<\/a>\u00a0that \"in these situations and it's not all about the market.\"<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/AltcoinSherpa\/status\/1496685587822256130?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1496685587822256130%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fcointelegraph.com%2Fnews%2Fbitcoin-plunges-as-putin-announces-special-military-operation-in-ukraine\n<\/div><\/figure>\n","post_title":"Crypto Markets Collapse In Reaction To Russias War On Ukraine","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"crypto-markets-collapse-in-reaction-to-russias-war-on-ukraine","to_ping":"","pinged":"","post_modified":"2022-02-24 19:05:05","post_modified_gmt":"2022-02-24 08:05:05","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3581","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3453,"post_author":"1","post_date":"2022-02-12 17:06:40","post_date_gmt":"2022-02-12 06:06:40","post_content":"\n

Gy\u00f6rgy Matolcsy, the governor of the Central Bank of Hungary is supporting the proposed crypto ban by the Russian Central Bank, expressing his agreement with the proposal to ban trading and mining of cryptocurrencies.<\/p>\n\n\n\n

This comes after the recent news<\/a> that the Russian central bank was in support of banning the trading and mining of cryptocurrencies. Matolcsy stated<\/a> that \"it is clear-cut that cryptocurrencies could service illegal activities and tend to build up financial pyramids.\" <\/p>\n\n\n\n

He also added that the \"growth and market value of cryptocurrencies is defined primarily by speculative demand for future growth, which creates bubbles.\u201d Calling for unity within the EU, Matolcsy wants the EU to \"act together\" in order to preempt the building up of \"new financial pyramids and financial bubbles.\"<\/p>\n\n\n\n

It seems that he is in support of banning it from the EU, but not worldwide. \"EU citizens and companies would be allowed to own cryptocurrencies abroad and regulators will track their holdings.\" <\/p>\n\n\n\n

As Matolscy stated above, the growth and market value of cryptocurrencies is defined by speculative demand for future growth, is the support for the ban just a way to see if other countries can manage and regulate cryptocurrencies before he makes a decision on what to do, or is it another technology that isn't fully understood?<\/p>\n","post_title":"Hungarian Central Bank In Support Of Russian Crypto Ban","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"hungarian-central-bank-in-support-of-russian-crypto-ban","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/will-russia-ban-bitcoin-likely-not-heres-why\/","post_modified":"2022-02-12 17:07:44","post_modified_gmt":"2022-02-12 06:07:44","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3453","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3439,"post_author":"1","post_date":"2022-02-10 21:26:57","post_date_gmt":"2022-02-10 10:26:57","post_content":"\n

Russians own over $214 Billion worth, or 12% of the total value<\/a> of cryptocurrencies worldwide, according to a Bloomberg report<\/a>. <\/p>\n\n\n\n

The data coming from the Kremlin and government officials out of Moscow was articulated from analyzing the IP addresses of the most prominent exchange users out of the country along with various other data points, as stated by two officials from Kremlin.<\/p>\n\n\n\n

The data comes after the Russian government had decided to regulate<\/a> rather than ban cryptocurrencies. The analysis will help articulate an overview of the market to assist in their regulations and should be taken with a grain of salt because of the anonymous nature of cryptocurrencies in general.<\/p>\n\n\n\n

\u201cRussians really do have a lot of money in cryptocurrency, but it\u2019s hard to value the true amount...many people are using cash, derivative instruments, or have two passports and can open a crypto wallet in someone else\u2019s name.\u201d<\/em><\/strong><\/p>Alexander Filatov, Co-Founder and CEO of TON Labs<\/a><\/cite><\/blockquote>\n\n\n\n

The statistics offer a snapshot of how widespread cryptocurrency investing has become in Russia being the\u00a0third-biggest<\/a>\u00a0Bitcoin miner in the world, as officials at the central bank push for a blanket ban on the local industry, while the government pursues a softer approach.((https:\/\/www.bloomberg.com\/news\/articles\/2022-02-01\/russia-values-local-crypto-market-at-200-billion-as-rules-near))\u00a0<\/p>\n","post_title":"Russians Own 12% Of The Worlds Cryptocurrencies","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"russians-own-12-of-the-worlds-cryptocurrencies","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/will-russia-ban-bitcoin-likely-not-heres-why\/","post_modified":"2023-04-30 21:39:59","post_modified_gmt":"2023-04-30 11:39:59","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3439","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3341,"post_author":"1","post_date":"2022-01-31 22:09:02","post_date_gmt":"2022-01-31 11:09:02","post_content":"\n

The Russian Government has started the development of a guide that will present limitations on cryptocurrencies.<\/p>\n\n\n\n

The roadmap presented by the Russian Government and approved by Deputy Chairman Dmitry Chernyshenko will work to ease the adoption of cryptocurrencies while halting financial instability. <\/p>\n\n\n\n

It will seek to provide a regulatory framework within the cryptocurrency markets having with an emphasis on violations and dangers within the industry.<\/p>\n\n\n\n

The roadmap goes against the recently proposed blanket ban on cryptocurrencies - as per the Russian Central Bank. Suggesting that crypto-related activities such as payments, exchange, and mining be banned, as it risks financial stability for the citizens of the nation.<\/p>\n\n\n\n

What Do Russia's Regulations Entail?<\/h2>\n\n\n\n

The National Bank, through this guide, advocates having an administrative and prohibitive system for cryptocurrencies. This change of position comes after Putin demanded showing up at an agreement in regards to this.<\/p>\n\n\n\n

Putin has recognized that, although cryptocurrencies convey a specific measure of hazard coming from its volatility, digital currency mining guarantees a ton of upper hand to the country.<\/p>\n\n\n\n

Since Russia enjoys the benefit of having the option to give cheap power, it will remain the third-biggest country for crypto mining.<\/p>\n\n\n\n

\"Regulation will only provide the transparency that will ensure the protection of citizens.\"<\/strong><\/em><\/p>Ivan Chebeskov, Head Of The Financial Policy Department<\/cite><\/blockquote>\n\n\n\n

<\/p>\n","post_title":"Will Russia Ban Bitcoin? Likely Not; Here's Why...","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"will-russia-ban-bitcoin-likely-not-heres-why","to_ping":"","pinged":"","post_modified":"2023-04-11 12:56:24","post_modified_gmt":"2023-04-11 02:56:24","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3341","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"};

1 2

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

According to reports from Ukrainian media, the notorious hacker group Anonymous is offering US$52,000 in Bitcoin for every Russian tank surrendered to them.<\/p>\n\n\n\n

Russian troops were advised by Anonymous to surrender with a white flag and use the password \u2018million\u2019 to show that they accept the terms. The Ministry of Defence of\u00a0Ukraine<\/a>\u00a0has also reportedly said that it will pardon those who surrender.<\/p>\n\n\n\n

\"Russian soldiers, everyone who wants to live with their families, children, and not die, the Anonymous global community has collected RUB 1,225,043 in bitcoin to help you.\"<\/em><\/p>Anonymous<\/cite><\/blockquote>\n\n\n\n

It seems that Ukrainian farmers have taken anonymous up on their offer, stealing a tank from Russian soldiers!<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/NFTshawty\/status\/1499020152519671813?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1499020152519671813%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fbeincrypto.com%2Fanonymous-will-pay-russian-troops-52000-in-btc-for-each-tank%2F\n<\/div><\/figure>\n\n\n\n

Anonymous vs Russia<\/h2>\n\n\n\n

Anonymous declared war against Vladimir Putin after news of the invasion<\/a>, promising \u201cunprecedented cyber-attacks from all corners of the world\u201d. <\/p>\n\n\n\n

Only two days after declaring cyber-war, they managed to collect over US$10 million from taking down 300 targets including banks, news outlets and government agencies. These funds will be used to support their new offer.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/LatestAnonPress\/status\/1497786715783798785?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1497786715783798785%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fbeincrypto.com%2Fanonymous-will-pay-russian-troops-52000-in-btc-for-each-tank%2F\n<\/div><\/figure>\n","post_title":"Anonymous Offering Russian Troops Bitcoin To Surrender Their Tanks","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"anonymous-offering-russian-troops-bitcoin-to-surrender-their-tanks","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/crypto-markets-collapse-in-reaction-to-russias-war-on-ukraine\/","post_modified":"2023-04-30 21:38:24","post_modified_gmt":"2023-04-30 11:38:24","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3758","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3684,"post_author":"1","post_date":"2022-03-01 22:27:59","post_date_gmt":"2022-03-01 11:27:59","post_content":"\n

Bitcoin<\/a>\u00a0has overtaken the Russian Ruble<\/a> in total market capitalization. <\/p>\n\n\n\n

Market analysts believe Bitcoins price surge was partly fuelled by Russians exchanging Rubles to cryptocurrencies. Along with the fact cryptocurrency serves as a store of value during times of uncertainty. <\/p>\n\n\n\n

In turn, the crash of the Ruble came after increased sanctions imposed by nations after Russia's invasion<\/a> of Ukraine. The banning of Russian banks<\/a> from the SWIFT payment system also played a major role.<\/p>\n\n\n\n

\u201cThe defining characteristics of bitcoin allows it to act as a safe haven during turbulent times.\u201d<\/p>Paolo Ardoino, CTO of BitFinex<\/cite><\/blockquote>\n\n\n\n

The Russian Ruble has hit a 30 year low, losing over 30% of its value in less than a week, 1 Russian Ruble is worth a mere US$0.01.<\/p>\n\n\n\n

\"\"
Image: Xe<\/figcaption><\/figure>\n\n\n\n

The Impact Of War On Currency<\/h2>\n\n\n\n

Russia's invasion of Ukraine has sent markets into a whirl<\/a>. Although international markets managed to recover<\/a> mere days after the initial invasion, the most affected country is still Russia themselves.<\/p>\n\n\n\n

In response to the sanctions and bans imposed on Russia, Russia's central bank more than doubled its interest rates to a crazy 20%. This was done in an effort to \"maintain financial and price stability\" stated the central bank.<\/p>\n","post_title":"Bitcoin Overtakes The Russian Ruble In Value","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"bitcoin-overtakes-russian-ruble-in-value","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/crypto-markets-collapse-in-reaction-to-russias-war-on-ukraine\/\nhttps:\/\/www.thedistributed.co\/will-russian-banks-blocked-from-swift-turn-to-crypto\/","post_modified":"2023-04-11 12:53:33","post_modified_gmt":"2023-04-11 02:53:33","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3684","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

What Is SWIFT?<\/h2>\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

Will Russia Pivot To Crypto?<\/h2>\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":3608,"post_author":"1","post_date":"2022-02-26 13:08:41","post_date_gmt":"2022-02-26 02:08:41","post_content":"\n

Kuna<\/a>, a Ukrainian-based crypto exchange has seen a huge spike in transaction volume after the news of Russia's<\/a> invasion. <\/p>\n\n\n\n

Data<\/a> from CoinGecko<\/a> shows prior to the invasion trading volumes on Thursday were around $1.5M, nearing $5M on Friday. Although trading volume has since dropped to around $2M.<\/p>\n\n\n\n

\"\"
Source: CoinGecko<\/figcaption><\/figure>\n\n\n\n

Despite global markets taking a huge hit<\/a> after the news, Ukrainians were quick to react to the news in case of an economic crisis.<\/p>\n","post_title":"Kuna, A Ukrainian Crypto Exchange Has Tripled In Volume","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"kuna-a-ukrainian-crypto-exchange-has-tripled-in-volume","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/crypto-markets-collapse-in-reaction-to-russias-war-on-ukraine\/","post_modified":"2022-02-26 22:20:07","post_modified_gmt":"2022-02-26 11:20:07","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3608","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3591,"post_author":"1","post_date":"2022-02-26 00:05:26","post_date_gmt":"2022-02-25 13:05:26","post_content":"\n

Amidst the war between Russia<\/a> and Ukraine, thousands have shown their support through Bitcoin donations to the military.<\/p>\n\n\n\n

Come Back Alive<\/a> is a Kyiv-based non-profit. Funds were donated to their Bitcoin wallet<\/a> will finance military equipment like medical kits and armor for the Ukrainian soldiers.<\/p>\n\n\n\n

Fortune reported<\/a> that $400,000 was donated after news of Russia's invasion, according to data <\/a>from blockchain and crypto analytics firm, Elliptic. Hitting over $4,000,000 today, with several contributions of over $1,000 according to Come Back Alive's director, Taras Chmut. <\/p>\n\n\n\n

\"\"<\/figure>\n\n\n\n

After originally accepting FIAT on Go Fund Me, the page has been inaccessible since Thursday. It was against Go Fund Me policies, but they stated in a blog post<\/a> that they're using their services to support military funding. Every donation sent to the original page will be sent back.<\/p>\n\n\n\n

Cryptocurrency prices have dropped<\/a> dramatically due to fears over the war, despite this support in cryptocurrencies have become one of the main ways to support various causes.<\/p>\n","post_title":"$4M+ In Bitcoin Donated To Support Ukrainian Military","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"4m-in-bitcoin-donated-to-support-ukrainian-military","to_ping":"","pinged":"","post_modified":"2023-04-30 21:39:12","post_modified_gmt":"2023-04-30 11:39:12","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3591","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3581,"post_author":"1","post_date":"2022-02-24 19:01:39","post_date_gmt":"2022-02-24 08:01:39","post_content":"\n

After Russian President, Vladamir Putin announced<\/a> a \"special military operation\" in Ukraine global markets have tanked.<\/p>\n\n\n\n

The Russian army had launched several missiles aimed at Ukraine, targeting several cities including the capital, Kyiv.<\/p>\n\n\n\n

The Bitcoin (BTC<\/a>) price has dropped 7.26% and Ethereum (ETH<\/a>) dropped 9.48% today according to CoinMarketCap<\/a>. The overall crypto market cap has dropped 8.25% to $1.58 trillion.<\/p>\n\n\n\n

\"\"
Source: CoinMarketCap<\/figcaption><\/figure>\n\n\n\n

The Communities Reactions<\/h2>\n\n\n\n

Ethereum founder Vitalik Buterin, born and raised in Russia,\u00a0tweeted<\/a> in Russian that roughly translates to <\/p>\n\n\n\n

\u201cVery upset by Putin's decision to abandon the possibility of a peaceful solution to the dispute with Ukraine and go to war instead. This is a crime against the Ukrainian and Russian people. I want to wish everyone security, although I know that there will be no security. Glory to Ukraine.\"<\/p>\n\n\n\n

\u00a0He\u00a0added<\/a>\u00a0later in English: \u201cReminder: Ethereum is neutral, but I am not.\u201d<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/VitalikButerin\/status\/1496695424387801090?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1496695424387801090%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fcointelegraph.com%2Fnews%2Fbitcoin-plunges-as-putin-announces-special-military-operation-in-ukraine\n<\/div><\/figure>\n\n\n\n

Altcoin Sherpa,\u00a0an advisor to Atlas DEX tweeted<\/a>\u00a0that \"in these situations and it's not all about the market.\"<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/AltcoinSherpa\/status\/1496685587822256130?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1496685587822256130%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fcointelegraph.com%2Fnews%2Fbitcoin-plunges-as-putin-announces-special-military-operation-in-ukraine\n<\/div><\/figure>\n","post_title":"Crypto Markets Collapse In Reaction To Russias War On Ukraine","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"crypto-markets-collapse-in-reaction-to-russias-war-on-ukraine","to_ping":"","pinged":"","post_modified":"2022-02-24 19:05:05","post_modified_gmt":"2022-02-24 08:05:05","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3581","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3453,"post_author":"1","post_date":"2022-02-12 17:06:40","post_date_gmt":"2022-02-12 06:06:40","post_content":"\n

Gy\u00f6rgy Matolcsy, the governor of the Central Bank of Hungary is supporting the proposed crypto ban by the Russian Central Bank, expressing his agreement with the proposal to ban trading and mining of cryptocurrencies.<\/p>\n\n\n\n

This comes after the recent news<\/a> that the Russian central bank was in support of banning the trading and mining of cryptocurrencies. Matolcsy stated<\/a> that \"it is clear-cut that cryptocurrencies could service illegal activities and tend to build up financial pyramids.\" <\/p>\n\n\n\n

He also added that the \"growth and market value of cryptocurrencies is defined primarily by speculative demand for future growth, which creates bubbles.\u201d Calling for unity within the EU, Matolcsy wants the EU to \"act together\" in order to preempt the building up of \"new financial pyramids and financial bubbles.\"<\/p>\n\n\n\n

It seems that he is in support of banning it from the EU, but not worldwide. \"EU citizens and companies would be allowed to own cryptocurrencies abroad and regulators will track their holdings.\" <\/p>\n\n\n\n

As Matolscy stated above, the growth and market value of cryptocurrencies is defined by speculative demand for future growth, is the support for the ban just a way to see if other countries can manage and regulate cryptocurrencies before he makes a decision on what to do, or is it another technology that isn't fully understood?<\/p>\n","post_title":"Hungarian Central Bank In Support Of Russian Crypto Ban","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"hungarian-central-bank-in-support-of-russian-crypto-ban","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/will-russia-ban-bitcoin-likely-not-heres-why\/","post_modified":"2022-02-12 17:07:44","post_modified_gmt":"2022-02-12 06:07:44","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3453","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3439,"post_author":"1","post_date":"2022-02-10 21:26:57","post_date_gmt":"2022-02-10 10:26:57","post_content":"\n

Russians own over $214 Billion worth, or 12% of the total value<\/a> of cryptocurrencies worldwide, according to a Bloomberg report<\/a>. <\/p>\n\n\n\n

The data coming from the Kremlin and government officials out of Moscow was articulated from analyzing the IP addresses of the most prominent exchange users out of the country along with various other data points, as stated by two officials from Kremlin.<\/p>\n\n\n\n

The data comes after the Russian government had decided to regulate<\/a> rather than ban cryptocurrencies. The analysis will help articulate an overview of the market to assist in their regulations and should be taken with a grain of salt because of the anonymous nature of cryptocurrencies in general.<\/p>\n\n\n\n

\u201cRussians really do have a lot of money in cryptocurrency, but it\u2019s hard to value the true amount...many people are using cash, derivative instruments, or have two passports and can open a crypto wallet in someone else\u2019s name.\u201d<\/em><\/strong><\/p>Alexander Filatov, Co-Founder and CEO of TON Labs<\/a><\/cite><\/blockquote>\n\n\n\n

The statistics offer a snapshot of how widespread cryptocurrency investing has become in Russia being the\u00a0third-biggest<\/a>\u00a0Bitcoin miner in the world, as officials at the central bank push for a blanket ban on the local industry, while the government pursues a softer approach.((https:\/\/www.bloomberg.com\/news\/articles\/2022-02-01\/russia-values-local-crypto-market-at-200-billion-as-rules-near))\u00a0<\/p>\n","post_title":"Russians Own 12% Of The Worlds Cryptocurrencies","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"russians-own-12-of-the-worlds-cryptocurrencies","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/will-russia-ban-bitcoin-likely-not-heres-why\/","post_modified":"2023-04-30 21:39:59","post_modified_gmt":"2023-04-30 11:39:59","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3439","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3341,"post_author":"1","post_date":"2022-01-31 22:09:02","post_date_gmt":"2022-01-31 11:09:02","post_content":"\n

The Russian Government has started the development of a guide that will present limitations on cryptocurrencies.<\/p>\n\n\n\n

The roadmap presented by the Russian Government and approved by Deputy Chairman Dmitry Chernyshenko will work to ease the adoption of cryptocurrencies while halting financial instability. <\/p>\n\n\n\n

It will seek to provide a regulatory framework within the cryptocurrency markets having with an emphasis on violations and dangers within the industry.<\/p>\n\n\n\n

The roadmap goes against the recently proposed blanket ban on cryptocurrencies - as per the Russian Central Bank. Suggesting that crypto-related activities such as payments, exchange, and mining be banned, as it risks financial stability for the citizens of the nation.<\/p>\n\n\n\n

What Do Russia's Regulations Entail?<\/h2>\n\n\n\n

The National Bank, through this guide, advocates having an administrative and prohibitive system for cryptocurrencies. This change of position comes after Putin demanded showing up at an agreement in regards to this.<\/p>\n\n\n\n

Putin has recognized that, although cryptocurrencies convey a specific measure of hazard coming from its volatility, digital currency mining guarantees a ton of upper hand to the country.<\/p>\n\n\n\n

Since Russia enjoys the benefit of having the option to give cheap power, it will remain the third-biggest country for crypto mining.<\/p>\n\n\n\n

\"Regulation will only provide the transparency that will ensure the protection of citizens.\"<\/strong><\/em><\/p>Ivan Chebeskov, Head Of The Financial Policy Department<\/cite><\/blockquote>\n\n\n\n

<\/p>\n","post_title":"Will Russia Ban Bitcoin? Likely Not; Here's Why...","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"will-russia-ban-bitcoin-likely-not-heres-why","to_ping":"","pinged":"","post_modified":"2023-04-11 12:56:24","post_modified_gmt":"2023-04-11 02:56:24","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3341","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"};

1 2

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

See Related:<\/em><\/strong> Will Russian Banks Blocked From SWIFT Turn To Crypto?<\/a><\/p>\n","post_title":"Russian Government To Legalize Crypto For Cross-Border Payments","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"russian-government-to-legalize-crypto-for-cross-border-payments","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/will-russian-banks-blocked-from-swift-turn-to-crypto\/","post_modified":"2022-09-25 00:41:39","post_modified_gmt":"2022-09-24 14:41:39","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=7328","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3758,"post_author":"1","post_date":"2022-03-03 21:29:24","post_date_gmt":"2022-03-03 10:29:24","post_content":"\n

According to reports from Ukrainian media, the notorious hacker group Anonymous is offering US$52,000 in Bitcoin for every Russian tank surrendered to them.<\/p>\n\n\n\n

Russian troops were advised by Anonymous to surrender with a white flag and use the password \u2018million\u2019 to show that they accept the terms. The Ministry of Defence of\u00a0Ukraine<\/a>\u00a0has also reportedly said that it will pardon those who surrender.<\/p>\n\n\n\n

\"Russian soldiers, everyone who wants to live with their families, children, and not die, the Anonymous global community has collected RUB 1,225,043 in bitcoin to help you.\"<\/em><\/p>Anonymous<\/cite><\/blockquote>\n\n\n\n

It seems that Ukrainian farmers have taken anonymous up on their offer, stealing a tank from Russian soldiers!<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/NFTshawty\/status\/1499020152519671813?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1499020152519671813%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fbeincrypto.com%2Fanonymous-will-pay-russian-troops-52000-in-btc-for-each-tank%2F\n<\/div><\/figure>\n\n\n\n

Anonymous vs Russia<\/h2>\n\n\n\n

Anonymous declared war against Vladimir Putin after news of the invasion<\/a>, promising \u201cunprecedented cyber-attacks from all corners of the world\u201d. <\/p>\n\n\n\n

Only two days after declaring cyber-war, they managed to collect over US$10 million from taking down 300 targets including banks, news outlets and government agencies. These funds will be used to support their new offer.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/LatestAnonPress\/status\/1497786715783798785?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1497786715783798785%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fbeincrypto.com%2Fanonymous-will-pay-russian-troops-52000-in-btc-for-each-tank%2F\n<\/div><\/figure>\n","post_title":"Anonymous Offering Russian Troops Bitcoin To Surrender Their Tanks","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"anonymous-offering-russian-troops-bitcoin-to-surrender-their-tanks","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/crypto-markets-collapse-in-reaction-to-russias-war-on-ukraine\/","post_modified":"2023-04-30 21:38:24","post_modified_gmt":"2023-04-30 11:38:24","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3758","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3684,"post_author":"1","post_date":"2022-03-01 22:27:59","post_date_gmt":"2022-03-01 11:27:59","post_content":"\n

Bitcoin<\/a>\u00a0has overtaken the Russian Ruble<\/a> in total market capitalization. <\/p>\n\n\n\n

Market analysts believe Bitcoins price surge was partly fuelled by Russians exchanging Rubles to cryptocurrencies. Along with the fact cryptocurrency serves as a store of value during times of uncertainty. <\/p>\n\n\n\n

In turn, the crash of the Ruble came after increased sanctions imposed by nations after Russia's invasion<\/a> of Ukraine. The banning of Russian banks<\/a> from the SWIFT payment system also played a major role.<\/p>\n\n\n\n

\u201cThe defining characteristics of bitcoin allows it to act as a safe haven during turbulent times.\u201d<\/p>Paolo Ardoino, CTO of BitFinex<\/cite><\/blockquote>\n\n\n\n

The Russian Ruble has hit a 30 year low, losing over 30% of its value in less than a week, 1 Russian Ruble is worth a mere US$0.01.<\/p>\n\n\n\n

\"\"
Image: Xe<\/figcaption><\/figure>\n\n\n\n

The Impact Of War On Currency<\/h2>\n\n\n\n

Russia's invasion of Ukraine has sent markets into a whirl<\/a>. Although international markets managed to recover<\/a> mere days after the initial invasion, the most affected country is still Russia themselves.<\/p>\n\n\n\n

In response to the sanctions and bans imposed on Russia, Russia's central bank more than doubled its interest rates to a crazy 20%. This was done in an effort to \"maintain financial and price stability\" stated the central bank.<\/p>\n","post_title":"Bitcoin Overtakes The Russian Ruble In Value","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"bitcoin-overtakes-russian-ruble-in-value","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/crypto-markets-collapse-in-reaction-to-russias-war-on-ukraine\/\nhttps:\/\/www.thedistributed.co\/will-russian-banks-blocked-from-swift-turn-to-crypto\/","post_modified":"2023-04-11 12:53:33","post_modified_gmt":"2023-04-11 02:53:33","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3684","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

What Is SWIFT?<\/h2>\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

Will Russia Pivot To Crypto?<\/h2>\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":3608,"post_author":"1","post_date":"2022-02-26 13:08:41","post_date_gmt":"2022-02-26 02:08:41","post_content":"\n

Kuna<\/a>, a Ukrainian-based crypto exchange has seen a huge spike in transaction volume after the news of Russia's<\/a> invasion. <\/p>\n\n\n\n

Data<\/a> from CoinGecko<\/a> shows prior to the invasion trading volumes on Thursday were around $1.5M, nearing $5M on Friday. Although trading volume has since dropped to around $2M.<\/p>\n\n\n\n

\"\"
Source: CoinGecko<\/figcaption><\/figure>\n\n\n\n

Despite global markets taking a huge hit<\/a> after the news, Ukrainians were quick to react to the news in case of an economic crisis.<\/p>\n","post_title":"Kuna, A Ukrainian Crypto Exchange Has Tripled In Volume","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"kuna-a-ukrainian-crypto-exchange-has-tripled-in-volume","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/crypto-markets-collapse-in-reaction-to-russias-war-on-ukraine\/","post_modified":"2022-02-26 22:20:07","post_modified_gmt":"2022-02-26 11:20:07","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3608","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3591,"post_author":"1","post_date":"2022-02-26 00:05:26","post_date_gmt":"2022-02-25 13:05:26","post_content":"\n

Amidst the war between Russia<\/a> and Ukraine, thousands have shown their support through Bitcoin donations to the military.<\/p>\n\n\n\n

Come Back Alive<\/a> is a Kyiv-based non-profit. Funds were donated to their Bitcoin wallet<\/a> will finance military equipment like medical kits and armor for the Ukrainian soldiers.<\/p>\n\n\n\n

Fortune reported<\/a> that $400,000 was donated after news of Russia's invasion, according to data <\/a>from blockchain and crypto analytics firm, Elliptic. Hitting over $4,000,000 today, with several contributions of over $1,000 according to Come Back Alive's director, Taras Chmut. <\/p>\n\n\n\n

\"\"<\/figure>\n\n\n\n

After originally accepting FIAT on Go Fund Me, the page has been inaccessible since Thursday. It was against Go Fund Me policies, but they stated in a blog post<\/a> that they're using their services to support military funding. Every donation sent to the original page will be sent back.<\/p>\n\n\n\n

Cryptocurrency prices have dropped<\/a> dramatically due to fears over the war, despite this support in cryptocurrencies have become one of the main ways to support various causes.<\/p>\n","post_title":"$4M+ In Bitcoin Donated To Support Ukrainian Military","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"4m-in-bitcoin-donated-to-support-ukrainian-military","to_ping":"","pinged":"","post_modified":"2023-04-30 21:39:12","post_modified_gmt":"2023-04-30 11:39:12","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3591","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3581,"post_author":"1","post_date":"2022-02-24 19:01:39","post_date_gmt":"2022-02-24 08:01:39","post_content":"\n

After Russian President, Vladamir Putin announced<\/a> a \"special military operation\" in Ukraine global markets have tanked.<\/p>\n\n\n\n

The Russian army had launched several missiles aimed at Ukraine, targeting several cities including the capital, Kyiv.<\/p>\n\n\n\n

The Bitcoin (BTC<\/a>) price has dropped 7.26% and Ethereum (ETH<\/a>) dropped 9.48% today according to CoinMarketCap<\/a>. The overall crypto market cap has dropped 8.25% to $1.58 trillion.<\/p>\n\n\n\n

\"\"
Source: CoinMarketCap<\/figcaption><\/figure>\n\n\n\n

The Communities Reactions<\/h2>\n\n\n\n

Ethereum founder Vitalik Buterin, born and raised in Russia,\u00a0tweeted<\/a> in Russian that roughly translates to <\/p>\n\n\n\n

\u201cVery upset by Putin's decision to abandon the possibility of a peaceful solution to the dispute with Ukraine and go to war instead. This is a crime against the Ukrainian and Russian people. I want to wish everyone security, although I know that there will be no security. Glory to Ukraine.\"<\/p>\n\n\n\n

\u00a0He\u00a0added<\/a>\u00a0later in English: \u201cReminder: Ethereum is neutral, but I am not.\u201d<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/VitalikButerin\/status\/1496695424387801090?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1496695424387801090%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fcointelegraph.com%2Fnews%2Fbitcoin-plunges-as-putin-announces-special-military-operation-in-ukraine\n<\/div><\/figure>\n\n\n\n

Altcoin Sherpa,\u00a0an advisor to Atlas DEX tweeted<\/a>\u00a0that \"in these situations and it's not all about the market.\"<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/AltcoinSherpa\/status\/1496685587822256130?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1496685587822256130%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fcointelegraph.com%2Fnews%2Fbitcoin-plunges-as-putin-announces-special-military-operation-in-ukraine\n<\/div><\/figure>\n","post_title":"Crypto Markets Collapse In Reaction To Russias War On Ukraine","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"crypto-markets-collapse-in-reaction-to-russias-war-on-ukraine","to_ping":"","pinged":"","post_modified":"2022-02-24 19:05:05","post_modified_gmt":"2022-02-24 08:05:05","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3581","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3453,"post_author":"1","post_date":"2022-02-12 17:06:40","post_date_gmt":"2022-02-12 06:06:40","post_content":"\n

Gy\u00f6rgy Matolcsy, the governor of the Central Bank of Hungary is supporting the proposed crypto ban by the Russian Central Bank, expressing his agreement with the proposal to ban trading and mining of cryptocurrencies.<\/p>\n\n\n\n

This comes after the recent news<\/a> that the Russian central bank was in support of banning the trading and mining of cryptocurrencies. Matolcsy stated<\/a> that \"it is clear-cut that cryptocurrencies could service illegal activities and tend to build up financial pyramids.\" <\/p>\n\n\n\n

He also added that the \"growth and market value of cryptocurrencies is defined primarily by speculative demand for future growth, which creates bubbles.\u201d Calling for unity within the EU, Matolcsy wants the EU to \"act together\" in order to preempt the building up of \"new financial pyramids and financial bubbles.\"<\/p>\n\n\n\n

It seems that he is in support of banning it from the EU, but not worldwide. \"EU citizens and companies would be allowed to own cryptocurrencies abroad and regulators will track their holdings.\" <\/p>\n\n\n\n

As Matolscy stated above, the growth and market value of cryptocurrencies is defined by speculative demand for future growth, is the support for the ban just a way to see if other countries can manage and regulate cryptocurrencies before he makes a decision on what to do, or is it another technology that isn't fully understood?<\/p>\n","post_title":"Hungarian Central Bank In Support Of Russian Crypto Ban","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"hungarian-central-bank-in-support-of-russian-crypto-ban","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/will-russia-ban-bitcoin-likely-not-heres-why\/","post_modified":"2022-02-12 17:07:44","post_modified_gmt":"2022-02-12 06:07:44","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3453","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3439,"post_author":"1","post_date":"2022-02-10 21:26:57","post_date_gmt":"2022-02-10 10:26:57","post_content":"\n

Russians own over $214 Billion worth, or 12% of the total value<\/a> of cryptocurrencies worldwide, according to a Bloomberg report<\/a>. <\/p>\n\n\n\n

The data coming from the Kremlin and government officials out of Moscow was articulated from analyzing the IP addresses of the most prominent exchange users out of the country along with various other data points, as stated by two officials from Kremlin.<\/p>\n\n\n\n

The data comes after the Russian government had decided to regulate<\/a> rather than ban cryptocurrencies. The analysis will help articulate an overview of the market to assist in their regulations and should be taken with a grain of salt because of the anonymous nature of cryptocurrencies in general.<\/p>\n\n\n\n

\u201cRussians really do have a lot of money in cryptocurrency, but it\u2019s hard to value the true amount...many people are using cash, derivative instruments, or have two passports and can open a crypto wallet in someone else\u2019s name.\u201d<\/em><\/strong><\/p>Alexander Filatov, Co-Founder and CEO of TON Labs<\/a><\/cite><\/blockquote>\n\n\n\n

The statistics offer a snapshot of how widespread cryptocurrency investing has become in Russia being the\u00a0third-biggest<\/a>\u00a0Bitcoin miner in the world, as officials at the central bank push for a blanket ban on the local industry, while the government pursues a softer approach.((https:\/\/www.bloomberg.com\/news\/articles\/2022-02-01\/russia-values-local-crypto-market-at-200-billion-as-rules-near))\u00a0<\/p>\n","post_title":"Russians Own 12% Of The Worlds Cryptocurrencies","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"russians-own-12-of-the-worlds-cryptocurrencies","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/will-russia-ban-bitcoin-likely-not-heres-why\/","post_modified":"2023-04-30 21:39:59","post_modified_gmt":"2023-04-30 11:39:59","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3439","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3341,"post_author":"1","post_date":"2022-01-31 22:09:02","post_date_gmt":"2022-01-31 11:09:02","post_content":"\n

The Russian Government has started the development of a guide that will present limitations on cryptocurrencies.<\/p>\n\n\n\n

The roadmap presented by the Russian Government and approved by Deputy Chairman Dmitry Chernyshenko will work to ease the adoption of cryptocurrencies while halting financial instability. <\/p>\n\n\n\n

It will seek to provide a regulatory framework within the cryptocurrency markets having with an emphasis on violations and dangers within the industry.<\/p>\n\n\n\n

The roadmap goes against the recently proposed blanket ban on cryptocurrencies - as per the Russian Central Bank. Suggesting that crypto-related activities such as payments, exchange, and mining be banned, as it risks financial stability for the citizens of the nation.<\/p>\n\n\n\n

What Do Russia's Regulations Entail?<\/h2>\n\n\n\n

The National Bank, through this guide, advocates having an administrative and prohibitive system for cryptocurrencies. This change of position comes after Putin demanded showing up at an agreement in regards to this.<\/p>\n\n\n\n

Putin has recognized that, although cryptocurrencies convey a specific measure of hazard coming from its volatility, digital currency mining guarantees a ton of upper hand to the country.<\/p>\n\n\n\n

Since Russia enjoys the benefit of having the option to give cheap power, it will remain the third-biggest country for crypto mining.<\/p>\n\n\n\n

\"Regulation will only provide the transparency that will ensure the protection of citizens.\"<\/strong><\/em><\/p>Ivan Chebeskov, Head Of The Financial Policy Department<\/cite><\/blockquote>\n\n\n\n

<\/p>\n","post_title":"Will Russia Ban Bitcoin? Likely Not; Here's Why...","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"will-russia-ban-bitcoin-likely-not-heres-why","to_ping":"","pinged":"","post_modified":"2023-04-11 12:56:24","post_modified_gmt":"2023-04-11 02:56:24","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3341","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"};

1 2

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n