document – DIGIT INFO

Terraform Labs CEO Do Kwon Faces Extradition to South Korea

DIGIT — Sat, 25 Mar 2023 05:15:01 +0000

According to a report published by AFP, Do Kwon, CEO of Terraform Labs, has been charged with document forgery in Montenegro. Kwon was arrested at the Podgorica airport while traveling with fake documentation. South Korean prosecutors have said the Terra co-founder faces extradition to South Korea. Montenegro Police’s Account of the Falsified Travel Documents Found […]

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‘Crypto FUD’ — Industry outraged as White House report slams crypto

DIGIT — Wed, 22 Mar 2023 05:26:25 +0000

The report included 35 pages seemingly aimed at debunking the merits of crypto assets.

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Georgia Prepares to Launch Digital Lari Pilot in First Half of 2023

DIGIT — Tue, 17 Jan 2023 04:30:41 +0000

The central bank of Georgia intends to publish a document detailing the concept of a national digital currency in the coming months. Other participating parties will use it to finalize their proposals for the pilot which the monetary authority plans to initiate in the first half of the year. Financial Authorities in Georgia Gear Up […]

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EU to Target Crypto Miners’ Power Usage as Union Relies Less on Russian Energy

DIGIT — Wed, 19 Oct 2022 09:00:18 +0000

Authorities in Brussels are taking steps to reduce power consumption, including in cryptocurrency mining, as the EU faces limited energy supplies from Russia, the reliance on which it has been trying to lower. New energy efficiency labeling is to address the growing electricity usage in the crypto sector. EU to Develop Energy Efficiency Label for […]

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Russian Government Eyes $13 Billion in Taxes From Crypto Economy

DIGIT — Wed, 09 Feb 2022 12:00:37 +0000

Authorities in Moscow expect to collect more than $13 billion as tax payments from the Russian crypto market, according to a government document quoted by media. The estimate comes as Russian institutions are holding discussions on the future of cryptocurrencies in the country. One Trillion Rubles to Enter State Coffers as Crypto Taxes, Russian Analysts […]

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Bank of Russia Proposes Wide Ban on Cryptocurrency Use, Trade, Mining

DIGIT — Fri, 21 Jan 2022 05:00:40 +0000

True to its hardline stance on decentralized digital money, the Central Bank of Russia is now pushing for a wide-ranging ban on crypto-related activities such as issuance, exchange, and mining. A consultation paper published by the regulator cites threats to financial stability and citizens’ wellbeing among the main reasons for the proposed restrictions. Russia’s Central […]

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Russia to Allow Foreign Residents to Own and Use Digital Ruble

DIGIT — Mon, 13 Dec 2021 07:30:49 +0000

The central bank of Russia intends to ensure that the digital ruble is convertible to foreign currencies and can be used by non-residents. In a document devoted to the digitalization of the Russian financial sector, the regulator reiterates its concerns over the risks associated with cryptocurrencies and insists that state-issued digital currencies are safer. Bank […]

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ECB Paper Marks Success Factors for CBDCs, Digital Euro

DIGIT — Sat, 04 Dec 2021 11:49:43 +0000

A paper published by the European Central Bank (ECB) discusses various conditions for successful implementation of central bank digital currencies (CBDCs) such as the eurozone’s own digital euro. The authors also point to different risks that such projects entail, like the danger of crowding out the private sector. ECB: Digital Euro Should Be Widely Used […]

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Bank of Russia Pushes to Introduce Liability for Illegal Use of Digital Assets

DIGIT — Wed, 24 Nov 2021 22:30:00 +0000

The monetary authority in Moscow, the Bank of Russia, wants those who use cryptocurrencies against the law to be held accountable. The financial regulator has proposed the introduction of legal liability for some operations with digital assets which it considers illegal. Central Bank of Russia Aims to Prevent Circulation of Decentralized Currencies Cryptocurrencies in the […]

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Ukraine Adopts Law ‘On Virtual Assets’ to Regulate Crypto Market

DIGIT — Thu, 09 Sep 2021 11:30:12 +0000

The parliament in Kyiv has passed legislation determining the rules for crypto-related operations in Ukraine. The law “On Virtual Assets” recognizes cryptocurrencies as intangible goods while denying them the status of legal tender. It also regulates the activities and obligations of crypto businesses. Ukraine Legalizes Crypto Activities, Defines Virtual Assets Ukraine’s Verkhovna Rada, the country’s […]

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