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It was recently unearthed by Russian authorities that an entire mining hub was being operated inside a psychiatric clinic of Russia’s oldest prison. Yup, you did read that right. An illegal mining hub was being operated inside Butyrskaya prison in the Tverskoy District of central Moscow since last November 2021. It is believed that the rigs operated till February 2022 and during this time they consumed about 8,400 kilowatts of government-paid electricity which amounts to 62,000…

On Friday, April 22, it was all over the news that the world’s largest crypto exchange (in terms of Trading Volume), Binance had purposely leaked user data to the Russian authorities. Further, as per a Reuters’ special report, Russian Intelligence agencies wanted Binance to share its user’s data to help them track down users engaged in criminal activity. However, it is reported that the ruling government had an ulterior motive for this which was to…

As the Russia vs Ukraine war progresses, various financial organisations and governments have pointed out multiple times the possibility of Russia being able to evade the economic sanctions put on them via unscrupulous means mainly one of them being cryptocurrency. As crypto transactions aren’t based on any traditional economic networks, it is hard to track and block. Recently, the IMF has pointed out and warned again that Russia may be planning to use its vast…

In the times of war between Russia and Ukraine, it has been found that crypto is playing a crucial role in helping Ukraine. Ukraine has received a lot of crypto donations globally to help support its war-affected economy and its army. However, on the other hand, experts also believed that Russia too would benefit by using crypto to evade the global sanctions put on them by countries opposing the war. But this seems not to…

As war wages on between Ukraine and Russia, it’s of no surprise to anyone that the whole world has been affected negatively in some way or the other. Well, this phase is especially true for Ukraine, as the country’s entire administrative and financial system has taken a huge toll. During this dire time, the country is forced to rely on foreign donations to get by and support its citizens. Plus, to fund the godforsaken war…

It was recently reported that the Russian Central Bank had sent a proposal to the government of Russia intending to ban all forms of crypto-related transactions within the country. The proposal specifically pointed out that crypto being a very high volatile asset class should be banned. Along with that, all forms of crypto transactions such as trading, mining, exchanges, OTC desks, P2P transfers, and usage of cryptocurrencies in any way should be deemed illegal. Plus,…