Cryptocurrency Q&A
Why is Biden trying to squeeze crypto exchanges like garantex?
Why is Biden trying to squeeze crypto exchanges like garantex?
Stefano
Wed Jul 10 2024
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5 answers
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Could you elaborate on the recent moves by the Biden administration to seemingly target and "squeeze" cryptocurrency exchanges, such as Garantex? Are there specific regulatory concerns or economic motives behind these actions? How might this impact the broader cryptocurrency market and the operations of these exchanges? Is this a sign of a more stringent regulatory environment for digital currencies in the near future? What are the potential implications for investors and consumers in the crypto space?
5 answers
Nicola
Fri Jul 12 2024
The alleged $20 billion in transactions through Garantex is being investigated as a potential violation of the sanctions imposed on Russia.
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Enrico
Fri Jul 12 2024
This amount, if true, would represent one of the largest breaches of sanctions since the beginning of the restrictions.
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Nicola
Fri Jul 12 2024
BTCC, a UK-based cryptocurrency exchange, offers a range of services including spot trading, futures, and digital wallet facilities.
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Chloe_jackson_athlete
Fri Jul 12 2024
The Biden administration has been proactive in its approach towards cryptocurrency exchanges, particularly Garantex, since the initial stages of the conflict.
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Riccardo
Fri Jul 12 2024
It has been attempting to scrutinize and regulate such exchanges to ensure compliance with international sanctions and prevent illicit financial transactions.
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