Russian Finance Ministry Amends Bill ‘On Digital Currency,’ Adds Crypto Mining Provisions

Russian Finance Ministry Amends Bill ‘On Digital Currency,’ Adds Crypto Mining ProvisionsThe Ministry of Finance of the Russian Federation has revised a draft law designed to regulate the country’s crypto space, introducing provisions for cryptocurrency mining. The bill has been resubmitted to the government and may be adopted during the parliament’s spring session. Updated Law ‘On Digital Currency’ Filed With Russian Government Russia’s Ministry of Finance […]

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Bank of Russia Rejects Idea of Using Cryptocurrency to Circumvent Sanctions

Bank of Russia Rejects Idea to Use Cryptocurrency to Circumvent SanctionsThe Central Bank of Russia has turned down a proposal to allow the use of digital currencies for the purpose of sanctions evasion. The monetary authority believes this is hardly an option as Western regulators are already taking steps to prevent such transactions. Employing Bitcoin to Evade Sanctions Not Possible, Central Bank of Russia Says […]

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Circle Chooses BNY Mellon to Custody USDC Reserves

Circle Chooses BNY Mellon to Custody USDC ReservesBoston-based Circle Internet Financial has announced the company has selected BNY Mellon to custody the firm’s usd coin (USDC) reserves. The company’s dollar-pegged crypto asset is currently the second-largest stablecoin with a current market capitalization of $51.6 billion. BNY Mellon to Become USDC’s Primary Custodian Circle has chosen America’s oldest investment bank to custody the […]

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Fed Governor Says ‘Blockchain Is Totally Overrated,’ Claims Crypto Is ‘Just Electronic Gold’

Fed Governor Says 'Blockchain Is Totally Overrated,' Claims Crypto Is 'Just Electronic Gold'The American economist and member of the Federal Reserve Board of Governors, Christopher Waller, believes blockchain technology is “totally overrated,” even though the U.S. central bank “put a lot of resources into understanding digital currencies and the blockchain.” On Friday, Waller spoke during a panel that discussed central bank digital currencies (CBDCs) and said that […]

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Report: Kenya Central Bank Governor Reiterates His Opposition to Cryptocurrencies

The Kenyan central bank governor has once again told Kenyans to be wary of the risks that are associated with cryptocurrency transactions and trading. The governor also warned financial institutions supporting cryptocurrency transactions that they risk losing their licenses. Crypto Trading Beneficial to a Few The governor of the Central Bank of Kenya (CBK), Patrick […]

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Florida Governor Ron DeSantis Says State Is ‘Figuring out Ways’ to Allow Businesses to Pay Taxes in Bitcoin

Florida governor, Ron DeSantis explained at a press conference on Tuesday that he’s spoken with state agencies and told them to figure out ways for businesses to pay tax with cryptocurrencies. During the signing ceremony for a bill focused on financial literacy, DeSantis said that the government is working on accepting bitcoin “for payments in […]

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Member of St. Maarten’s Parliament Plans to Have His Entire Salary Paid in Bitcoin Cash

Member of St. Maarten’s Parliament Plans to Have His Entire Salary Paid in Bitcoin CashOn Saturday, the leader of the United People’s Party and member of St. Maarten’s Parliament, Rolando Brison, announced that he’s become the first elected official to request his entire salary paid in bitcoin cash. Brison believes St. Maarten can be the “Crypto Capital of the Caribbean,” as long as his country continues to embrace blockchain […]

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Bank of Russia Allows Sberbank to Issue Digital Financial Assets

Bank of Russia Allows Sberbank to Issue Digital Financial AssetsSberbank, Russia’s largest bank, has been authorized by the country’s monetary policy regulator to issue digital financial assets. The move comes amid tightening Western sanctions over the war in Ukraine, including limiting Moscow’s access to the global financial market. Sberbank Added to Central Bank’s Register of Crypto Asset Issuers The Central Bank of Russia (CBR) […]

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Russia Proceeds With Efforts to Legalize Crypto Amid Sanctions Over Ukraine

Russia Proceeds With Efforts to Legalize Crypto Amid Sanctions Over UkraineAuthorities in Russia are continuing their work to establish a comprehensive legal framework for crypto transactions. The efforts, which started before the military invasion of Ukraine, go on amid warnings that Moscow may use cryptocurrencies to evade expanding financial sanctions. Expert Council Meets in Russia to Discuss Law ‘On Digital Currency’ Attempts to legalize and […]

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Crypto Allows Ukraine to ‘Operate Internationally,’ Official Says

Crypto Allows Ukraine to ‘Operate Internationally,’ Government Official SaysAmid ongoing hostilities with advancing Russian forces, Ukraine has been increasingly relying on cryptocurrency donations to solve humanitarian problems and finance its defense efforts. Crypto helps the country to receive and quickly distribute money and operate internationally, a high-ranking government official has indicated. Ukraine Accepts, Spends Millions in Crypto, Deputy Minister Reveals Since the Russian […]

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