Tag: Russian

The Hunt for the Russian Trace: Chinese Banks Implement Stricter Compliance for Foreign Payments

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Chinese banks have implemented additional compliance measures for payments from the United Arab Emirates (UAE), India, and Hong Kong, which have traditionally served as trade partners for Russia. These measures aim to identify Russian businesses using third countries as proxies to complete payments. Chinese banks now require documentation confirming that goods will be sent directly […] Source link

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Binance leaving Russian market is ‘on the table’: Report

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Cryptocurrency exchange Binance may be considering withdrawing its services from Russia amid sanctions from countries including the United States. According to an Aug. 28 report from The Wall Street Journal, a Binance spokesperson said the exchange was considering all options in regard to Russia, “including a full exit.” The report followed Binance removing certain sanctioned Russian financial institutions from available payment options on its peer-to-peer platform and adding fiat currency restrictions for Russia-based users. A global exchange without a brick-and-mortar headquarters, Binance operates in many countries but has received pushback from…

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Russian Companies ‘Actively’ Using Crypto, Russia to Adopt 4 Relevant Laws, Official Says – Regulation Bitcoin News

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Russian lawmakers intend to soon approve four bills designed to regulate various aspects of cryptocurrencies, a high-ranking member of the Russian parliament announced. Meanwhile, Russian companies are already using digital assets in cross-border settlements, the official noted. Russian Legislature to Vote on Crypto Laws by End of July The State Duma, the lower house of the Russian parliament, plans to adopt four crypto-related laws during its spring session which ends on July 30, according to Anatoly Aksakov, chairman of the parliamentary Financial Market Committee. The bills are tailored to regulate…

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