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European Commission says crypto will be included in sanctions for Russia and Belarus

The European Commission has explained that crypto assets will fall under additional sanctions targeted against Russia and Belarus in response to the conflict in Ukraine.

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European Commission says crypto will be included in sanctions for Russia and Belarus

The European Commission has explained that crypto assets will fall under additional sanctions targeted against Russia and Belarus in response to the conflict in Ukraine.

The European Commission said member states had agreed to modify regulations with the goal of ensuring that Russian sanctions cannot be evaded, including through Belarus. The commission said crypto assets fell under the scope of transferable securities, adding that loans and credit provided using crypto would not be permitted as part of these restrictive financial measures.

The expansion of sanctions follows the commission announcing in February that it would be removing several Russian banks from the SWIFT cross-border payment network. These measures did not specify how to handle crypto at the time. The European Parliament Committee on Economics and Monetary Affairs is also preparing to hold a vote on a regulatory framework for crypto assets in the EU.

Both the United States and the European Union have hinted they would be looking at Russia potentially using digital currency to evade sanctions that some have described as economic warfare. In addition private businesses from fast food chain McDonald’s to major credit card companies including Visa and Mastercard have announced they will be scaling down in Russia and Belarus or entirely stopping operations in the two countries in response to the situation with Ukraine.

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GameStop hints at future Bitcoin purchases following board approval

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GameStop is exploring the possibility of adding Bitcoin to its balance sheet, but any future purchases will require approval from the company’s board of directors. The move signals the gaming retailer’s continued interest in digital assets as it seeks to diversify its financial strategy.

The potential Bitcoin investment aligns with GameStop’s previous forays into the crypto space, including its NFT marketplace and blockchain gaming initiatives. However, the company has not yet committed to a specific timeline or amount for Bitcoin purchases.

Industry analysts suggest that if GameStop proceeds with Bitcoin acquisitions, it could follow in the footsteps of other publicly traded companies, such as MicroStrategy, that have adopted Bitcoin as a reserve asset. The decision could also serve as a signal to retail and institutional investors about GameStop’s long-term outlook on digital assets.

As the company awaits board approval, the broader market will be watching closely to see if GameStop makes a decisive move into Bitcoin, potentially influencing other corporations to consider similar strategies.

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SEC nominee Atkins discloses at least $327M in assets ahead of confirmation hearing

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Paul Atkins, a former commissioner of the U.S. Securities and Exchange Commission (SEC), is under scrutiny over financial disclosures related to his wife. The concerns emerged during a recent hearing, raising questions about transparency and potential conflicts of interest.

Atkins, who served at the SEC from 2002 to 2008, has been a vocal advocate for regulatory clarity in financial markets, including the cryptocurrency sector. However, lawmakers and regulators are now examining whether proper disclosures were made regarding financial assets linked to his wife.

The inquiry reflects broader concerns about ethics and accountability among financial regulators and policymakers. While Atkins has not been formally accused of wrongdoing, the situation highlights ongoing debates over financial transparency in government and regulatory agencies.

As the hearing unfolds, industry observers are closely watching for potential implications on SEC policies and oversight practices. The outcome could influence future regulatory discussions, particularly in areas where financial disclosures intersect with policymaking in traditional and digital asset markets.

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Brazil’s data watchdog upholds ban on World crypto payments

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Brazil’s data protection authority is ramping up its oversight of cryptocurrency payment platforms, reflecting growing concerns over data privacy and regulatory compliance in the digital asset sector. The move aligns with a broader global trend of increased scrutiny on crypto transactions.

The regulatory focus comes as crypto payments gain mainstream adoption in Brazil, with businesses and consumers increasingly using digital assets for everyday transactions. Authorities aim to ensure that companies handling crypto payments comply with data protection laws, safeguarding user information against misuse and security breaches.

This initiative follows global regulatory efforts to address concerns over illicit financial activities and privacy risks associated with digital currencies. While Brazil has been a leader in Latin America’s crypto adoption, regulators are working to balance innovation with consumer protection.

Industry experts believe that stricter oversight could enhance trust in the crypto sector, attracting institutional players while ensuring compliance with international standards. As regulations evolve, businesses operating in the crypto payments space will need to adapt to the changing legal landscape to maintain seamless operations.

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