2 years ago

Heya cryptozens

Tonight’s Stories:

Commonwealth Bank of Australia Snagged on Crypto Red Tape
Shopping Network Bolt to buy Wyre
US Senate Republicans Explore Crypto’s Benefits

It’s 10 PM Pacific time and the date is April 7th, 2022. And welcome back to the Crypto Overnighter. I am your host, Nick. The cover model for this podcast is Tex and together we take a nightly look at the crypto, nft and metaverse space and the industry that surrounds it. We bring you new stories on familiar topics. And keep in mind, nothing in this show should ever be considered financial advice.

Russia sanctioned again. So this is like the 5th time. And crypto is again at the heart of it.

President Putin’s illegal war against Ukraine continues, as does his abuse of his own citizens. Because sure, they’re not bombing the citizens of Moscow or St Petersburg, but to be sure he is causing his own country serious harm.

Released yesterday, this fifth package of sanctions. And in the sanctions are a bunch of things. There’s another 6 billion dollars worth of products being added to the embargo list. So, stuff like that.

In addition, the EU announced an extended prohibition on deposits to crypto wallets yesterday. This will of course make things more difficult for Russian citizens. In their announcement, the EU said quote

The Commission also welcomes that an additional 217 individuals and 18 entities have now been sanctioned. This includes all 179 members of the so-called “governments” and “parliaments” of Donetsk and Luhansk. In total, 1091 individuals and 80 entities have been sanctioned since 2014

So this is another area where they’re putting the squeeze to the Russian people. THey’re already feeling pretty well cut off. They’re having a hard time moving any funds. They're trying to sell their crypto for cash in the UAE. As we’ve reported, they’re trying to dump their crypto and buy real estate in places.

But they’re hurting just the same.

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