Britain Financial News

Get your daily, bite-sized digest of cryptoasset and blockchain-related news – investigating the stories flying under the radar of today’s crypto news.

Crypto exchange Binance is blocking the accounts of any Russian clients targeted by sanctions, it told Reuters on Monday, but will not freeze the accounts of others after Ukraine called for a block on Russian users at major digital currency platforms.

The UK said it would act together with the European Union and the US to issue more sanctions in response to Russia’s invasion of Ukraine.

Wells Fargo has hired a senior HSBC dealmaker to lead a fresh expansion of its commercial real estate financing business in Europe.

After the EU, Canada, and the US agreed to remove selected Russian banks from the SWIFT messaging system, the Russian Central Bank is to be targeted next, which could make rubles "close to worthless."

The European Commission announced to remove a number of Russian banks from the Society for Worldwide Interbank Financial Telecommunication (SWIFT) messaging system, aimed at hindering Russia’s capacity to carry out cross-border payments. 

Russian banks will be removed from the SWIFT international payments system, says EU chief Ursula von der Leyen.

Russia may use cryptocurrency to mitigate the impact of international sanctions

Vladimir Putin evade the first wave of financial sanctions from the West and the country may legalise cryptocurrencies in order to sustain and virtually avoid all the sanctions as it invades Ukraine, the media reported. US President Joe Biden has announced new sanctions and limitations on what can be exported to Russia. The US will block five of the biggest Russian banks and freeze all assets they hold in America, worth over $1 trillion. Earlier, UK Prime Minister Boris Johnson unveiled Britain's largest-ever package of sanctions against Russia, targeting banks and wealthy Russians. However, those measures are becoming increasingly easy to evade, thanks in part to a surge of cryptocurrency adoption in Russia, reports CNN.

Wells Fargo has hired a senior HSBC dealmaker to lead a fresh expansion of its commercial real estate financing business in Europe.

The UK has banned Russia from accessing sterling clearing and payment systems as it steps up sanctions over the invasion of Ukraine.

Customers of five sanctioned Russian banks will be unable to use their cards to pay with Apple Pay and Google Pay, the central Bank of Russia, said.

The London Stock Exchange Group suspended VTB Capital’s membership in response to UK sanctions on Russia after its invasion of Ukraine.

Ukrainian charities and volunteer groups have raised over $4 million (€3.5 million) in cryptocurrency donations since the beginning of the ongoing invasion by Russian troops, according to the blockchain analysis firm Elliptic.

The world’s most popular sport suffered an own goal as European clubs canceled their partnerships with Bitci, a Turkish crypto exchange. However, plenty of substitute crypto companies are on the bench, ready to bring crypto to the mainstream through soccer.

The London Stock Exchange Group suspended VTB Capital’s membership in response to UK sanctions on Russia after its invasion of Ukraine.

Tensions between Russia and Ukraine look to have escalated to a full-blown military conflict. As shelling rocked major cities in the early hours of the morning, major governments are warning that President Vladimir Putin had clear plans to capture the capital, Kyiv.

Major Japanese e-commerce firm Rakuten has announced the launch of its own nonfungible token (NFT) trading platform dubbed Rakuten NFT.

BNY Mellon, a major investment bank, is developing a digital asset custody platform that would allow institutional customers to gain crypto exposure.

City firms are facing a compliance minefield as the UK government mulls expanding its sanctions against Russia over its invasion of Ukraine.

Wells Fargo has hired a senior HSBC dealmaker to lead a fresh expansion of its commercial real estate financing business in Europe.