UKRAINE/MOLDOVA: SEPARATISTS IN BREAKAWAY REGIONS MINE CRYPTOCURRENCIES

Anticoruptie in Moldova on 29 January claimed in a report that separatist regimes in Donbas and Transnistria boost economies with Russia’s involvement by mining cryptocurrencies to survive and flourish.  IT SAYS THAT separatist regimes in Donbas use cryptocurrencies in Kyiv. Ukrainian Secret Services, SBU, sporadically detains miners and cryptocurrency sellers. They are accused of participating in terrorist financing schemes in Donbas.  The sale and exploitation of cryptocurrencies are in a grey zone: they are not forbidden, but they are neither allowed. As there is no law regulating the market for virtual assets, there is also no company registered in Ukraine to handle these operations.  It also says that since 1999, the National Bank of Moldova has accused Transnistria of terrorist financing and money laundering.  As a result of these actions, the banking sector of Transnistria is wholly isolated from the international financial system In 2018, Transnistria legalised cryptocurrency mining after adopting the Law on the development of blockchain technology.

https://anticoruptie.md/en/investigations/economic/how-separatists-in-breakaway-regions-mine-cryptocurrencies-for-terrorist-financing-and-money-laundering

If you would like to make a (polite) gesture and make a (very) modest contribution to my ongoing costs of relocation, removal and computer costs, I have a page at https://www.buymeacoffee.com/KoIvM842y

Author: raytodd2017

Chartered Legal Executive and former senior manager with Isle of Man Customs and Excise, where I was (amongst other things) Sanctions Officer (for UN/EU sanctions), Export Licensing Officer and Manager of the Legal-Library & Collectorate Support Section

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