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Crypto wallet firm Payeer has been fined €9.3 million ($10.1 million) by Lithuania after it broke Sanctions and money laundering regulations through the service of Russia n users, Bloomberg reports.   That’s according to a statement on Tuesday by the Financial Crimes Investigation Service. According to the statement, Payeer allowed Russian customers to ‘carry out transactions in Russian rubles by transferring them from European Union-sanctioned Russian banks.’ Registered in Lithuania as a crypto service provider, Payeer was fined €1.06 million (1.15 million) for violating anti-money laundering laws and €8.24 million ($8.9 million) for violating international sanctions . The firm can reportedly appeal the fine.   Former Crypto.com compliance officer charged with money laundering, extortion Read more: Russian companies using USDT to evade UK and US sanctions, report According to Bloomberg, Lithuanian authorities are attempting to cut down the number of cr...

Russia purchased arms manufactured by its BRICS counterpart India by paying $4 billion in local currencies and not the US dollar. The Indian-made arms and equipment were procured by Russia citing ‘defense purposes’. The entire payment of $4 billion was cleared using the Rupee and the US dollar was left out from the transaction. Also Read: BRICS: Russia & China Presidents’ Meet to End US Dollar The deal came straight from the BRICS playbook of putting local currencies ahead of the US dollar for trade. The alliance is using every opportunity to strengthen the de-dollarization agenda and put local currencies to use in the markets. Read here to know how many sectors in the US will be affected if BRICS ditches the dollar for trade. BRICS: India & Russia Settle $4 Billion in Local Currencies, Sidelines US Dollar Source: Pixabay Russia n officials settled the $4 billion arms deal payment using India ’s special Vostro bank accounts. BRICS member India has allowed ac...

BRICS members India and Russia are moving in the opposite direction for crude oil sales and procurement in 2024. Watcher Guru previously reported that India is buying more oil from the US this year and keeping Russia at bay. The fallout occurred after Russia demanded India settle crude oil payments in the Chinese Yuan and not the Indian Rupee. The development did not sit well with India, as the country believed such a move would only strengthen the Chinese Yuan’s prospects. Also Read:  3 U.S. Sectors To Be Affected If BRICS Ditches the Dollar Additionally, the demand comes at a time when India is headed for the Prime Ministerial elections in May. Settling payments in the Chinese Yuan will only show the government in a negative light in the world’s largest democracy. For the uninitiated, India and China have been at loggerheads for decades and the two countries are engulfed in border disputes. Therefore, India decided to stop buying Russian crude oil for cheap and sideli...

Former Fox News journalist Tucker Carlson interviewed BRICS country Russia’s President Vladimir Putin. The face-to-face interview conducted in Russia’s capital city of Moscow saw Carlson ask Putin varied questions about geopolitics. Carlson and Putin spoke about the ongoing war with Ukraine, conflicts in the Middle East, and the Red Sea, among others. The duo also discussed BRICS and its aim of pulling the US dollar down as the world’s reserve currency. Also Read: BRICS : 8 Banks Ban U.S. Dollar Transactions Ep. 73 The Vladimir Putin Interview pic.twitter.com/67YuZRkfLL — Tucker Carlson (@TuckerCarlson) February 8, 2024 Putin and Carlson’s video is also unedited and published without any cuts for the public. Carlson spoke about the US sanctions on Russia and the BRICS goal of uprooting the dollar. The two spoke about the de-dollarization initiative and how BRICS is spearheading the campaign. Read here to know how many sectors in the US will...

BRICS inducted five new countries in January 2024 including Saudi Arabia, the United Arab Emirates, Egypt, Iran, and Ethiopia. Argentina is the only country that rejected joining BRICS despite receiving an invitation in August last year. While BRICS is now a 10-member bloc, a new round of expansion is likely at the 16th summit in Russia’s Kazan region. The next BRICS summit will be held in October and Russia’s President Vladimir Putin confirmed that 30 new countries have now expressed their interest to join the alliance. Also Read: 5 U.S. Sectors To Be Affected If BRICS Ditches the Dollar For Trade BRICS: 30 New Countries Look To Join BRICS in 2024, Confirms Vladimir Putin Source: xinhuanet.com Russia ’s President Vladimir Putin confirmed in a recent press conference that 30 new countries have formally submitted their applications to join BRICS in 2024. If the bloc approves all the 30 nations’ applications, then BRICS could become a 40-member group. That...

Russian clients of Binance, following its exit from the region, are shifting to various platforms for crypto trading. However, it is emerging that CommEX, the company that acquired Binance’s Russian business, isn’t a preferred choice for many clients . Thus far, peer-to-peer (P2P) operations have fallen by between 10 and 30%, as noted by Satoshkin CEO Dmitry Stepanin. You might also like: CommEX, platform that acquires Binance Russia, will offer services in Crimea At the start of 2023, Binance had around 7,700 daily ruble P2P transaction ads according to P2P.Army data. By mid-year, this dropped to 6,300, and by the end of September, it was down to 3,400. As of October 3, there was no data available for ruble transactions on Binance. Many crypto traders have shifted to Bybit, mainly due to its active marketing efforts, while other exchanges similar to Binance, such as Huobi, Bitget, Kucoin, and Gate.io, have also seen increased activity. P2P.Army data shows that...

The transaction was performed through the Masterchain blockchain platform, which is the Russian national blockchain network. Moscow Credit Bank has issued a blockchain-based bank guarantee denominated in Chinese currency, claiming the product is the first in the country. The bank guarantee exceeds 100 million Chinese yuan — or nearly $144,600 USD at time of publication.  According to a statement, the transaction was performed through the Masterchain blockchain platform, andthe Russian national blockchain network created to transfer digital assets​ between its participants. As one of the advantages of performing the transaction on-chain, the financial institution mentioned that "the beneficiary does not need to wait for the paper version and make a separate request to the bank to confirm the authenticity of the issued document." A bank guarantee is a financial safeguard offered by a lending institution. Through a contractual agreement, a bank agrees to assume financial respo...

Binance says it has already unblocked 90% of crypto accounts that were suspended due to the Bitzlato investigation. Cryptocurrency exchange Binance has been silently shutting down multiple accounts on the platform in relation to the Bitzlato investigation, according to several users. On Jan. 18, a group of Russian-speaking Binance clients complained about blocked account s and not being able to withdraw their funds from the exchange. The affected users created a Telegram group chat to report about the issues, stating that the account s were blocked without a warning. The members of the group — now counting more than 1,000 members — promptly drew parallels between the blockages and enforcement action against the crypto firm Bitzlato by the United States Department of Justice. The U.S. Financial Crimes Enforcement Network also listed Binance among the top Bitcoin (BTC) counterparties of Bitzlato. Many chat members have openly admitted that they used Bitzlato, including incoming and outg...