Visa, Mastercard, and PayPal Leave Russia: Suspend Services Following the Ukraine War

Visa, Mastercard and PayPal have joined several companies that have left Russia following Putin's “special military operation” against Ukraine. As such, the question remains whether the Russians will turn to cryptocurrencies.

Geopolitical Tensions May Delist Bitcoin from the Risky Asset Class

In a new interview with Bloomberg Technology, CoinShares Chief Strategy Officer (CSO) Meltem Demirors told host Emily Chang that worldwide sanctions following Russia's invasion of Ukraine and incidents such as the loss of banking access during a protest against the governments of truckers in Canada could remove Bitcoin from the risky investment category.

Cryptocurrencies Will Not Help Russia Evade Sanctions

Cryptocurrencies can be used for illegal financial activities, including sanctions avoidance. However, the fact is that digital assets are more difficult to use for illegal purposes than the traditional ecosystem, and the biggest reason for this is the way transaction information is stored in peer-to-peer digital asset transactions. Specifically, transparent blockchains create a permanent and invariant transaction log.

Despite the Dropping BTC, the Number of Small-Sized Investors Who Hold Bitcoin in their Wallets Records All-Time-High

The IntoTheBlock analysis shows that small investor accumulation in Bitcoin is likely to be at its peak levels. The total balance of addresses with 0.1 to 1 BTC has reached record levels of over 780,000 Bitcoins.

CEO Ken Griffin Says Citadel Plans to Start Making Markets in Crypto Soon

Ken Griffin, CEO of Citadel, who is skeptical about Bitcoin, admits he was wrong about crypto. "It is right to assume that in the coming months you will see us begin to create markets in cryptocurrencies," he said in a new statement.

United States Virginia Senate Approves Historical Crypto Banking Act With Vote Union

Earlier this week, the Virginia Senate overwhelmingly passed a landmark cryptocurrency banking law that previously cleared the state's House of Delegates. Following the passage of the Bill, Virginia Governor Glenn Youngkin is expected to sign to the bill to make it a law in the United States. The House Bill No. 263 reads: “A bank may provide its customers with virtual currency custody services so long as the bank has 26 adequate protocols in place to effectively manage risks and comply with applicable laws.”

Swiss Authorities to Freeze Russian Crypto Assets

The Swiss Federal Government wants to freeze the crypto assets owned by Russian individuals and businesses within the Swiss borders. Those measures punish Russian citizens and businesses beyond all sanctions related to the European Union.

Bank of Israel: Adoption of CBDC Will Not Materially Affect the Banking System

Adopting the digital shekel is not expected to "materially affect the banking system", the Israeli Central Bank said. However, it warns, any issuance of such digital currencies would likely lead to a drop in the public's deposit volume.

G7 Countries and EU Take Measures to Prevent Use of Crypto to Avoid Sanctions

The G7 countries and the European Union are exploring ways to stop Russia's use of cryptocurrencies to avoid sanctions. "We must take measures to prevent listed persons and institutions from moving to unregulated crypto assets," the German finance minister said.

South Korean Exchanges Block Russian IP Addresses

According to the Korea Times, several South Korean-based cryptocurrency exchanges have imposed bans on Russian users.

Sandbox Metaverse Reaches a New Milestone: Two Million Users
The Sandbox metaverse ecosystem has announced that it currently has two million registered users and the Alpha Season 2 launch is live. According to the GamesBeat report dated March 3, 2022, during the Sandbox Alpha Season 2 launch event, all registered users will have access to a variety of experiences including Snoop Dogg's Foreplay, Star Ferry Pier, and more in the metaverse.