Sanctions

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FATF’s Annual Crypto Review Highlights ‘Continued Use of Anonymity Tactics’ and ‘Lack of Effective’ Regulation

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The Financial Action Task Force (FATF) has published the organization’s 12-month review and the research highlights that only 45% of the 128 reporting jurisdictions have complied with AML/CFT policy and FATF recommendations. The annual review stresses that the “lack [of] effective” regulation makes it “challenging for competent authorities to follow the transaction trail, buying more … Read more

Government Cannot Stand in the Way of Crypto Technologies, Iran Minister Says

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New technologies, including blockchain and cryptocurrency mining, have helped Iran to increase budget receipts and withstand foreign sanctions, according to the country’s minister for economy and finance. The high-ranking official believes the government can’t interfere with their development for too long. Government Official Cautions Against Impeding Crypto Development Over the past few years, Tehran has … Read more

Iran Is Using Bitcoin Mining to Circumvent Sanctions, According to Elliptic

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Iran is using Bitcoin mining to circumvent and lessen the effect of the economic sanctions that the U.S. and other countries have applied to the country since 2006, according to a new study by Elliptic, a blockchain analytics and financial crime compliance firm. The country is indirectly using bitcoin mining to export part of its … Read more

Restrictions on Crypto Trading to Deprive Nation of Opportunities, Iranian Fintechs Warn

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Startups have spoken out against government attempts to curb the operations of crypto exchanges in Iran. Cryptocurrency trading is not illegal, Iranian fintechs insist, calling on lawmakers and regulators to develop rules that would allow the sanctioned country to continue to take advantage of decentralized money transfers. Iranian Fintechs Insist There Is No Ban on … Read more

Iran Warns Crypto Investors Amid Ban on Bitcoin Mined Outside Its Borders

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The Central Bank of Iran has issued a warning against unrestrained crypto trading and reminded investors that only cryptocurrencies minted by licensed miners in the Islamic Republic can be used under limited circumstances. Traders will bear full responsibility for the risks, the bank cautioned, although spending crypto on imports through approved banks and exchanges remains … Read more

Marathon Mines First OFAC Compliant Bitcoin Block

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Marathon, one of the biggest bitcoin mining dedicated companies in the U.S. and Canada, has mined the first OFAC compliant bitcoin block, only accepting transactions that comply with the directives of this government office. This has caused a stir in libertarian circles, that argue this can be the start of censorship in the bitcoin blockchain … Read more

Venezuelan Minimum Wage Reaches $3 as More Venezuelans Take Refuge in Cryptocurrencies

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The president of Venezuela, Nicolas Maduro, approved a minimum wage raise increase last week that took it to three dollars monthly, a very low income for the citizens of the country that are facing a strong economic crisis since 2013. However, the crypto environment has been growing, and now Venezuelans are flocking to exchanges like … Read more

Shark Tank’s Kevin O’Leary Will Only Buy ‘Clean’ Bitcoins — Says Institutions Will Not Buy ‘Blood Coins’ From China

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Kevin O’Leary, aka Mr. Wonderful, says he will only buy “clean” bitcoins that are mined sustainably in countries that use clean energy. He says institutional investors are concerned about where bitcoins are mined and will not buy “blood coins” from China. Clean Bitcoins vs. ‘Blood Coins’ Shark Tank star Kevin O’Leary talked about an emerging … Read more