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Governor of the Central Bank of Russia: The purchase limit for cryptocurrencies by non-qualified investors is aimed at protecting investors

The Governor of the Central Bank of Russia, Elvira Nabiullina, stated that Bill No. 1194918-8 distinguishes between qualified and non-qualified investors, and it is not only applicable to the cryptocurrency sector but is a common arrangement in regulation. Elvira Nabiullina mentioned that the scope for non-qualified investors is more limited because the government protects them through legislation to avoid risks they do not understand.She pointed out that the relevant measures also cover the crypto ecosystem, due to reasons including the volatility of the crypto market and the possibility that foreign digital assets may be seized due to their association with Russia. Bill No. 1194918-8 is expected to take effect on September 1 and will be implemented simultaneously with the launch of the digital ruble. The bill stipulates that the purchase limit for non-qualified investors in cryptocurrencies is 300,000 rubles, approximately $3,800, while the limit for qualified investors is ten times that amount.Elvira Nabiullina stated that the Russian crypto ecosystem remains open, and the repatriation and transfer of digital assets abroad are not restricted. She noted that investors will not be protected by Russian law after receiving relevant assets abroad, and any issues must be resolved within foreign jurisdictions.

North Korea dismantles an elite hacking group involved in infiltrating central banks and foreign trade banks to steal funds and launder money through cryptocurrency

According to South Korean media Daily NK, North Korean authorities arrested an elite hacker group on July 12, which is suspected of infiltrating the internal networks of the North Korean central bank and foreign trade bank, stealing national trade funds and laundering money through cryptocurrency. Sources say the group's leader is a veteran from the cyber warfare unit under the North Korean Reconnaissance General Bureau, who recruited talented IT graduates from Kim Chaek University of Technology and Pyongyang University of Science and Technology, using encrypted communications and wireless devices to commit crimes.They split the stolen funds into small amounts and transferred them to overseas cryptocurrency wallets, exchanged them for cash through intermediaries, and then converted them into dollars and other currencies in border areas. Pyongyang officials launched an investigation after discovering anomalies in foreign currency payment approvals and records of overseas IP access, ultimately raiding a safe house and arresting suspects who were laundering money, seizing equipment worth hundreds of thousands of dollars. This case has caused a stir among the elite and military circles in Pyongyang, with senior officials in the Reconnaissance General Bureau and the science and education sector worried about being implicated. North Korea has long been accused of stealing billions of dollars in cryptocurrency assets through hacker organizations like the Lazarus Group, but this incident rarely shows that its own financial system has also become a target of internal attacks.
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