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Despite all efforts, so far businesses haven’t been able to come up with significant applications for private, centralized blockchains as opposed to public distributed ledgers, a new study shows. According to the authors, in most cases corporate blockchain networks are used mainly for database verification and transactions auditing. Also read: Poll Shows 13% of Russians … Read more
In this edition of The Daily, we cover reports that the U.S. exchange Coinbase has laid off some of its remote workforce. We also look at news that Bitfury is considering holding an initial public offering like Bitmain. Also, a court in Moscow has reject an appeal against the ban imposed on the popular messenger … Read more
Draft laws employing alternative approaches to regulating digital currencies have been introduced in Ukraine and Russia. In Kiev, a bill that classifies cryptocurrency as an asset, unit of exchange and store of value has been filed in the Rada and it’s supported by both deputies and representatives of the industry. In Moscow, the managers of … Read more
Buying cryptocurrency in Russia these days increasingly means parting with fiat cash, be it Russian rubles or American dollars. According to numbers quoted by local media, the 24-hour market turnover, just in Moscow, reaches a staggering $50 million dollars on peak days. Some say the cash-crypto trade resembles the wild-wild-east street forex of the 90s, … Read more
In recent regulatory news, Spain’s Central bank has issued a report favoring the development of a central bank-issued digital currency (CBDC), the president of Taiwan’s central bank has advocated caution regarding CBDCs, the Blockchain Research Institute has published a summary of recent roundtable discussions calling for great regulatory clarity, and a Russian court has a … Read more
Mikhail Shlyapnikov, cancer survivor turned quaint Russian farmer and cryptocurrency revolutionary, is well known within the ecosystem. He’s about as eccentric as imagined, defiantly taking on his government through the issuance of a proprietary, local money. It was a way to get out from under gouging state-backed banks. Close to half a decade later, and … Read more
If there’s a sacred line the crypto community insists shouldn’t be crossed, it’s Thou Shalt Never Cooperate with Government Prohibitions. Apple Inc., the world’s most valuable company, appears to have ventured into such territory, according to Telegram’s founder Pavel Durov. He claims the maker of iPhone, iPad, and other iconic hardware, is purposefully restricting Telegram’s … Read more
According to regional publications in Russia, the alleged BTC-e mastermind and prisoner in Greece, Alexander Vinnik, has allegedly confessed to charges of fraud and money laundering on May 24, 2018. Reports reveal a signed document details that Vinnik admits to committing financial fraud between 2011-2017 through the BTC-e cryptocurrency exchange. Also read: This Week in … Read more
The Russian Ministry of Justice has taken side in what looks like a lively debate about the status of cryptocurrencies that are still unregulated in the country. A bankruptcy case involving a modest amount of bitcoin has sparked discussions in Russian legal circles. Some say a crypto is nothing more than “a set of characters.” … Read more
Russia’s Prime Minister Dmitry Medvedev has shed some light on the progress authorities are making towards adopting the long-awaited crypto regulations. Legislators will replace common words like “cryptocurrencies” and “tokens” with legal terms such as “digital money” and “digital rights”, he revealed. Two draft laws have been filed in the Duma. One of the bills … Read more
