Sanctions
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Seven Years Dark: Inside Moscow’s Bitcoin Mining Shutdown
Moscow has banned cryptocurrency mining, including participation in mining pools, until December 31, 2032, citing the need to prevent power-capacity shortfalls. This decision impacts a significant portion of Bitcoin's global hashrate originating from Russia. The ban occurs amidst discussions of using domestically mined Bitcoin for international payments to circumvent Western sanctions, a move previously targeted by U.S. sanctions against firms like BitRiver.
Treasury widens Iran crypto crackdown with sanctions on two more exchanges
The U.S. Treasury has expanded its sanctions against Iran's cryptocurrency activities, designating Shelbit Exchange and Aban Tether for allegedly facilitating illicit financial transactions. These entities are accused of helping Iran move funds beyond conventional banking systems, with Shelbit linked to over $2 million in transactions involving the Islamic Revolutionary Guard Corps. The Treasury aims to dismantle these networks, highlighting that while blockchain offers an alternative for sanctioned states, it also leaves a traceable record.
Iran reportedly funneled billions through Binance to fund its military
According to The Wall Street Journal, Iran has reportedly continued to use the cryptocurrency exchange Binance to funnel billions of dollars to fund its military operations. This activity is said to be ongoing despite facing significant international sanctions.
X could be breaching US sanctions on Iran, watchdog warns
A watchdog group, the Tech Transparency Project, has warned that X may be violating US sanctions on Iran. This concern stems from X's verified account for Iran's supreme leader, Mojtaba Khamenei, who is himself sanctioned, appearing to pay for a premium subscription. The TTP has previously identified similar instances of sanctioned individuals and groups subscribing to X's premium services.