A Russian citizen has been sentenced to seven years in prison for funding the Ukrainian Armed Forces by sending cryptocurrencies to their account. This marks the first public verdict in Russia involving the use of cryptocurrency to finance a military organization. The man, who remains unidentified, is charged with high treason and providing financial assistance to a foreign organization. The individual, who works at a diamond mining company in Yakutia, joined a social media group and received instructions on transferring funds to the Ukrainian armed forces. Meanwhile, Ukraine has seen a significant increase in decentralized finance transactions, with donations in cryptocurrency exceeding $10 million by October 2024. Ukraine plans to legalize crypto but will tax it as securities. The government also aims to sanction Russia's use of Bitcoin for international payments.



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