WorldMoney & Business

US, Russia faceoff over crypto; Australia sues Facebook

US Democrats introduced a bill aiming to curb Russian crypto use and Russia’s central bank gave Sberbank a license to issue and exchange digital assets as the two nations continued to try and outmaneuver each other over the war in Ukraine.

US senators put forward a plan that would enable the president to penalize foreign cryptocurrency firms doing business with sanctioned Russian entities, stopping them from carrying out transactions with US customers. Russia’s central bank on Thursday had given Sberbank, the country’s biggest lender, a license to issue and exchange digital financial assets, a move that may open new opportunities for the bank as it seeks to blunt the effect of Western sanctions.

Elsewhere, the Australian competition watchdog is taking action against Meta Platforms Inc’s Facebook, alleging it knowingly hosted misleading cryptocurrency investment ads.


Arab News

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