Bitbull Capital CEO, Joe DiPasquale, thinks Bitcoin (BTC) is still on track to reach $100K within the next 24 months despite the bearish sentiment dominating the crypto markets since the start of the year. “I think 2023 is a safe bet. We might need some time during 2022 to take a breath and to kind of let out some of the steam,” DiPasquale said. “We are reaching higher lows and even higher highs”, he added, commenting on Bitcoin’s price movement in the last few months. Following the breakout of a military conflict between Russia and Ukraine, Bitcoin has shown mixed …

Democratic Senator Elizabeth Warren is preparing a bill to crack down on the use of crypto as a way to avoid economic sanctions. Warren’s latest anti-crypto move comes alongside a push from the U.S. government to stamp out the possibility of Russia using crypto to skirt a host of economic sanctions placed on the nation. According to a March. 8 report from NBC News, one of the provisions of Warren’s new crypto bill — which is still in draft form — will require local crypto exchanges to submit “detailed records” to the Treasury Department of customers' identities and transfers to …

The United States Financial Crimes Enforcement Network, or FinCEN, a bureau of the Treasury Department, has warned financial institutions to consider crypto as a possible means Russia may attempt to use to evade sanctions related to the country’s military action in Ukraine. In a Monday alert, FinCEN reminded U.S.-based financial institutions “with visibility into cryptocurrency” and convertible virtual currency, or CVC, to report any activity that could be considered a potential way for Russia to evade sanctions imposed by the U.S. and its allies. While the U.S. watchdog said that the Russian government using CVCs to evade large scale sanctions …

A war rages on Europe’s eastern rim, having already left thousands of people dead and injured and millions more displaced. Digital assets have become so woven into the global financial system that a major political and economic crisis like the one unfolding right now has crypto inevitably involved on all levels: individual, institutional and national. From Russian nationals turning their burning passports into nonfungible tokens (NFTs) to refugees using crypto as a last financial resort, millions of dollars worth of crypto donations flowing to Ukraine, and both digital asset platforms and the United States government weighing crypto sanctions against Russia, …

The United States-based crypto exchange Coinbase has proposed the use of cryptocurrencies to help ensure compliance with economic sanctions. The recommendation comes along with highlighting the ease of laundering and sanction evasion of fiat currencies made possible by traditional financial infrastructures. Written by Coinbase’s Chief Legal Officer Paul Grewal, the blog talks about the growing range of global sanctions put forth amid the Russia-Ukraine conflict. The crypto exchange supported the government’s decision to impose sanctions on individuals and territories, highlighting its importance in “promoting national security and deterring unlawful aggression.” https://t.co/h08YXYgAoM Sanctions play a vital role in promoting national security …

With the concerns of Janet Yellen and Hillary Clinton notwithstanding, there isn’t enough cryptocurrency in the world to bail out Russia from the economic hole which it now finds itself to be settling into. Even if there were a large enough supply, it probably wouldn’t enable the state to escape the scourge of a Western embargo. As David Carlisle, director of policy and regulatory affairs at Elliptic, told Cointelegraph: “It’s critical to keep in mind that even where nefarious actors attempt to use crypto, law enforcement can trace this activity owing to its transparency, and crypto businesses can use solutions …

Data from blockchain-analysis firms show that Russian denominated crypto purchasing and trading on major exchanges have faltered, debunking theories that the country will pivot to digital assets to circumvent sanctions. When Bitcoin rallied over 15% last week, some industry experts attributed the surge to Russians buying cryptocurrency in the face of increasing economic sanctions. This theory seems to be proved false, however, as data from Chainalysis showed that ruble-denominated crypto trading volume was just $34.1 million on March 3, around half of a recent peak of $70.7 million a week ago on Feb. 24. Speaking on the matter of sanctions-fueled …

U.S.-based NFT marketplace OpenSea has reportedly begun barring Iranian users from its platform, sparking outrage from NFT collectors and raising fresh debate about decentralization in the crypto space. On Thursday morning, Iranian OpenSea users started posting on Twitter that their accounts were being deactivated or deleted with no prior warning. Iranian NFT artist “Bornosor” vented frustrations to their 4,700 followers, in a tweet that quickly gained traction, garnering 342 retweets and over a thousand likes within a few hours. Bornosor stated, “NOT A gm AT ALL. Woke up to my @opensea trading account being deactivated/deleted without notice or any explanation.” …

While the West is growing increasingly concerned over Russia’s potential use of cryptocurrencies to evade sanctions, some Russians are using their Bitcoin (BTC) to help Ukrainian people. Pavel Muntyan, a renowned Russian animation producer and creator of the animated web series “Mr. Freeman,” has called on anti-war Russians to support Ukrainian citizens amid Russia’s ongoing military attack on the country. Muntyan took to Twitter on Tuesday to announce the opening of a cryptocurrency donation address for Russians who want to support Ukrainian people anonymously as Russia has banned its citizens from helping people in Ukraine. On Feb. 27, Russia’s General …

New York state’s efforts to enforce sanctions against Russia have ramped up a gear with the Department of Financial Services, or DFS, expediting the procurement of additional blockchain analytics technology. According to a statement released Wednesday, the department will use the technology to help detect exposure to Russian individuals and entities subject to federal sanctions, by the virtual currency businesses licensed by the department. NY Gov. Kathy Hochul issued an executive order Feb. 27 directing state agencies to divest from Russian institutions and companies, as well as entities that provide them with support. She said: “New York is proudly home …

Economy and finance ministers representing nations in the European Union have said they will address Russia’s potential use of cryptocurrencies to evade sanctions imposed on it following its operations in Ukraine. Speaking to reporters through an interpreter following an informal video conference of EU economy and finance ministers on Wednesday, France’s finance minister, Bruno Le Maire, said lawmakers had already worked to freeze “a significant amount of the assets” in Russia’s central bank as part of its efforts to financially penalize the country over its ongoing efforts in Ukraine. However, he added that the 27 member states of the EU …

Federal Reserve Chair Pro Tempore Jerome Powell and some members of the U.S. House of Representatives called for congressional action on crypto in response to discussions about Russia potentially evading sanctions. In a Wednesday hearing of the House Financial Services Committee on “Monetary Policy and the State of the Economy”, California Representative Juan Vargas asked Powell if cryptocurrency could be a "way out" for Russia looking for financial transactions in the wake of the U.S. and European Union cutting the country off from the SWIFT payments network. The Fed chair said that the situation with Russia "underscores the need for …