Crimean authorities want to launch a cryptocurrency fund for foreign investors to circumvent the economic sanctions currently in place against the Russian-occupied territory. Georgy Muradov, the deputy prime minister of Crimea, revealed his plans on April 18. "We are discussing these schemes to circumvent sanctions," Muradov told reporters (via Tass). "One way is the creation of a cryptocurrency...
Boris Titov, a Russian businessman/ombudsman, and bitcoin advocate, has proposed the creation of a region in the Crimea similar to the “kriptodoliny” (Cryptovalley) in Zug, Switzerland for funding cryptocurrency and blockchain organizations, according to Rambler News Service. Titov said this during the All-Russian scientific-practical forum "Blokcheyn: dialogue between business and the...
The United States recently prohibited U.S.-registered companies from investing in Crimea or providing services to firms operating there. This prohibition went along with sanctions imposed as a result of Russia's annexation of the peninsula from Ukraine. The consequences for the people of Crimea and parts of Ukraine are now being exacerbated by Visa and Mastercard's suspension of regional bank...
Responding to events in Ukraine and Crimea, the Obama administration has barred certain prominent Russians from entry to the U.S. and sanctioned company and private fortunes. Yesterday, the heads of major Russian oil and energy companies, Rosneft and Gazprom, were both sanctioned. It appears even the rumored private fortune of President Putin may be pursued if the political situation deteriorates...