Garantex: Russian Exchange Under Sanctions Moving Millions Under Track
The Russian exchange Garantex is back in operation despite sanctions and seizures, moving millions through mixing, cross-chain and state stablecoin.
Russia
Russia plays a complex role in the cryptocurrency and Web3 sector. Although the government has adopted an ambiguous stance on crypto regulation, the country is home to one of the most active blockchain developer communities. Moscow and other Russian cities are innovation centres for blockchain, with companies working on smart contracts, DeFi and digital payment solutions.
16 Posts
Crypto-Sanctions: Russian Network Moves Over $8 Billion
Elliptic's 26 September report reveals how sanctioned Russian entities, through a wallet network run by fugitive Ilan Shor, moved more than $8 billion in digital assets, circumventing Western restrictions and relying on stablecoins such as USDT.
Ukraine legalises crypto with new tax
Ukraine passes a law to legalise and tax cryptocurrencies, introducing clear rules on the digital market.
OFAC sanctions stablecoin ruble A7A5, 13% fall
The United States sanctioned the ruble-anchored stablecoin A7A5. Since OFAC's announcement, the token has lost 13% of its value.
China sanctions two Lithuanian banks over EU crypto dispute
Beijing responds to EU sanctions against Chinese banks for crypto services to Russia, hitting two Lithuanian institutions.
Russia: Massive fraud of Electricity for Bitcoin Mining
Largest illegal Bitcoin mining network with stolen electricity discovered in Russia: over USD 4 million in damages.
Russian Stablecoin A7A5 Moves $9.3Bn In 4 Months
The ruble-linked A7A5 stablecoin moved $9.3 billion in just four months, raising questions about possible links to Russian sanctions and exchanges.
Tatarstan: 5,000 Active Mining Farms in Russia
Over 5,000 mining farms operate in Tatarstan, a Russian region that accounts for 3% of the national cryptomining market.
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