Bitcoin is not welcome in Russia. The Central Bank of Russia, this year, put in place legislation that bans the issuance and circulation of cryptocurrencies. But officials in the country accept that an outright ban is unenforceable. Speaking on the country’s Digital Assets Bill, Alexey Guznov, the Director of the Bank of Russia’s Legal Department…
Russia stands out as the global leader in Bitcoin volume, according to CryptoDiffer. The research firm compiled data from LocalBitcoins, a widely-utilized peer-to-peer cryptocurrency exchange.BITCOIN INTEREST BY GEOGRAPHY IN APRILWe took a look at the #Bitcoin $BTC #BTC trading volume by countries on @LocalBitcoins in April.Data by @Coin_Dance pic.twitter.com/KzTTmPcnqX— CryptoDiffer (@CryptoDiffer) May 3, 2020Russia Tops…
Despite the large number of crypto-centric companies founded and based in the U.S. — like Coinbase, Kraken, and so on and so forth — American regulation hasn’t been all too kind to the budding industry around Bitcoin over the past few years.Blockchain firms are fined millions by the Securities and Exchange Commission (SEC) and digital…
Central banks hoarding gold is thought to be accounting for a lot of the buying pressure sending the price of the precious metal upwards recently. Such a hunger for hard assets may one day see banks stock piling Bitcoin as part of their de-dollarisation efforts. Central banks in both Russia and China have been identified…
According to local news publication TASS, the Bank of Russia will consider a gold-backed digital currency for use in international settlements. However, the institution remains opposed to truly decentralised crypto assets. The world power has reportedly mulled the idea of creating a digital currency before and it is also believed by some that the Venezuelan…
Two very contrasting events took place in Russia lower house parliament last week. In the first, the State Duma approved the international use of a Swift-like financial network to eliminate the risks of western sanctions. In the other, it postponed the second reading of the crypto bill draft law to April. Ducking Swift Ban Anatoly Aksakov,…
Russian President Vladimir Putin has issued a fresh order to Russia’s government demanding that they draft and approve a regulatory framework for the crypto industry. Although this seems like a positive development for the industry, similar orders have been issued on multiple occasions over the past few years to no avail, which calls into question…
A physical store in Central Moscow looks like a miniature version of the New York Stock Exchange (NYSE). Except, the store doesn’t list stocks on its trading screens; it lists Bitcoin and other cryptocurrencies. DeeCrypto has been in business since seven-months but is more than just a place that lets members exchange virtual currencies in…
The crypto market has just entered into another tough period when a lot of coins started losing its value. In the midst of all the chaos, one cryptocurrency exchange announced a new pump scheme on several random coins, while hoping to get a boost itself. YoBit Plans a Pump-And-Dump Scheme YoBit, a Russia-based cryptocurrency exchange…
The European Central Bank (ECB) is not issuing a digital currency any time soon, according to President Mario Draghi. He’s argued that the blockchain technology is not mature enough for such a level of responsibility and physical cash remains widely used within the monetary union. ECB Studies Potential Issuance of Central Bank Digital Currency In…