Estonia Calls for More Regulatory Burden on Crypto to Fight Sanctions Loopholes
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International financial regulators should tighten cryptocurrency regulation to fight sanctions loopholes, Reuters reports, citing Estonia's prime minister Kaja Kallas. As per Kallas, the world's focus must be "on full isolation of Russia." Kallas also called for full isolation of all Russian and Belarusian banks from the SWIFT payments system.

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The move comes amid geopolitical crisis after Russian president Vladimir Putin announced the so-called "military operation in Donbass." Later, Ukrainian president Volodymir Zelensky announced the country had put martial law into effect. According to reports, the Russian military is targeting Ukraine's military infrastructure, aviation, air defense facilities and military airfields as the Kremlin wants to carry out "demilitarization."

PayPal Stops Operating in Russia

iHodl earlier reported that Coinbase blocked over 25,000 addresses related to Russian individuals or entities. The exchange wrote in a blog announcement it believes that the addresses were engaged in "illicit activity," many of which have being identified through "proactive investigations."

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