IMF: ‘Russia could mine bitcoin to evade sanctions‘, 80.000 BTC withdrawn from exchanges and ETF in Australia
IMF Warns: ‘Russia could mine bitcoin to evade sanctions‘
Russia could use cryptocurrency mining to evade sanctions, according to the International Monetary Fund (IMF).
It indicated in its report on global financial stability that Russia could be planning to use cryptocurrency mining to circumvent economic sanctions imposed by the United States and the European Union in the wake of its war against Ukraine.
According to the IMF, Russia could rely on many tools to move money outside the traditional financial system. One prominent example could be the use of non-compliant cryptocurrency exchanges along with anonymity-enhancing platforms, such as DEX or mixers.
It’s quite remarkable that the IMF specifically mentions a ‘solution’ for Russia during this geopolitical powerplay.
Australia’s first Bitcoin ETF could attract $1 billion after launch next week
Australian investors will be able to trade its first Bitcoin spot ETF starting next week when the Cosmos Asset Management Bitcoin ETF launches on ASX Clear.
An ETF is a regulated exchange traded fund that allows investors to benefit from the price of Bitcoin without needing to own any coins themselves directly.
Cosmos Asset Management beat out local contenders VanEck, BetaShares, and EFT Securities to issue Australia’s first Bitcoin ETF. Each firm has been in the running to close out regulatory approvals since at least March, according to the Sydney Morning Herald.
Source: Cointelegraph
Bitcoin continues to flow out of exchanges
Over the last 30 days, nearly 80,000 bitcoin, worth over $3 billion, has left exchanges with the largest outflows coming from Coinbase. Previous major 30-day outflows at this level have corresponded to price appreciation but now we are in a much more unique market structure.
When we talk about exchange balances, the majority of the market can be explained by trends in Coinbase and Binance, with both exchanges having over 20% of total known bitcoin exchange balances on their platforms, respectively. Together, they make up 48% of known bitcoin on exchanges.
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