Seriously, Nancy Pelosi averages 10x returns per year in the stock market but Congress is too busy with shitting on Crypto. Hypocrisy at its finest. Oh, I forgot, maybe most congress members are making inside tradings. Maybe thats why they don't give a f*ck about its members insider trading suspects and they are dealing with…
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According to a recent report by a Russian lawmaker, the country’s citizens have invested over 5 trillion rubles ($67.5 billion) in the crypto market, but the regulatory terrain remains hostile and unclear with the governor of the Central Bank of Russia increasingly hinting at a highly regulated environment Cryptocurrencies have had legal status in Russia since 2020, although it is forbidden to use them as means of payment in the country. Authorities, however, have expressed opposing views stating that they could be a tool of money laundering and possibly used finance terrorism. The law “On Digital Financial Assets” entered into effect this year and regulated a few activities. Despite recent warnings on a possible ban, the Russian crypto market has seen remarkable growth. The head of the Financial Market Committee Anatoly Aksakov stated during hearings at the lower house of the Russian parliament that residents have invested over $67.5 billion in crypto, although he didn’t specify a timeframe, the state-owned agency Tass reported. According to some reports, 5 trillion rubles have already been invested by Russians in cryptocurrency This crypto Russian boom might see big obstacles in the near future. Aksakov empathized several kinds of investors, including the common Russian, are now interested in the crypto market. He stated: “It is necessary to determine how we treat this phenomenon and, accordingly, prescribe liabilities in the law, should we prohibit or restrict something.” Authorities have warned and taken a few measures against what they see as high-risk investments for residents with low financial literacy attracted to the crypto market. However, there is not enough regulatory clarity for Russian crypto investors at the moment and authorities have sent mixed signals about future legal actions. The deputy chairman of the Central Bank of Russia (CBR) Vladimir Chistyukhin announced recently that they are preparing an advisory report in which the regulators will start to provide more clarity by explaining the bank’s stance on how cryptocurrencies shall play a role in Russia’s financial market. I think that we will soon publish a report on cryptocurrencies. This report will contain our approaches related to what place we see for cryptocurrency in the Russian financial market. I give a hint – we do not see a place for cryptocurrency in the Russian financial market. Related Reading | Bitcoin Overtakes Russian Ruble, Inches Closer To Top Ten Global Currencies Russian Authorities On Top Of Crypto Elvira Nabiullina, the governor of the Central Bank of Russia (CBR), shows a conservative and skeptical view when facing the rise of cryptocurrencies. She has hinted at a ban and recently noted that the CBR is capable of implementing restrictions. The local news portal finmarket.ru quoted: Cryptocurrencies carry great risks for retail investors due to high volatility and use in illegal activities, so we cannot welcome investments in such assets. Related Reading | To Ban Or Not To Ban? Russia Concerned About Growing Crypto Transanctions The head of the bank has stated that the regulator doesn’t see the possibility of legalizing cryptocurrencies on the country’s exchanges, but they are studying its other uses. Earlier, Russia’s Economic Development Minister Maxim Oreshkin had compared bitcoin investments with gambling and warned that cryptocurrencies imply many risks for its investors. As for bitcoin: if you look at how the value of this asset fluctuates, it’s dozens of percent points up, dozens down. A normal asset that can bring money to eligible investors should not have such characteristics, since it’s worse than a casino, On Russia’s Finance Ministry views, the country should only allow “eligible investors” to do bitcoin transactions on exchanges. The Deputy Chairman of the Central Bank Vladimir Chistyukhin has expressed that a solution to their fears would be to prohibit transferring funds from bank accounts to crypto-exchanges: I think that we will resolve the issue through amending the legislation. There will be a more precise definition of how cryptocurrencies can circulate,
Ethereum 2.0 has been long in the making ever since the Beacon Chain went into operation in 2020. Since then, there have been numerous upgrades made to prepare the network for the final proof of stake move. Most recently of this has been the Kintsugi testnet that allows users of the blockchain to get a glimpse of what is to come when “The Merge” finally happens. It has been a year since the move to ETH 2.0 was set into motion and there have been some notable happenings since then. In this article, we’re going to look at the year in review and all that has happened with the network since then. Related Reading | Ethereum Exchange Withdrawals Reaches One-Year Low. Why This Matters Over 7% Of ETH Supply Staked Staking on the Ethereum network has ramped up since the move to proof of stake was announced. Instead of requiring miners to compete and verify blocks like in proof of work, the network now requires validators who need 32 ETH to run a node. Each validator gets rewarded for helping confirm transactions in the network and making it safer to use. The number of ETH staked on the network had quickly reached 5% of the total supply less than a year after the Beacon Chain was launched. December marks a complete year after the launch and there are now over 8.6 million ETH staked on the network worth a total of $33.5 billion. The number of validators has also grown to over 271,000 in this time. 7.33% of ETH supply staked | Source: Arcane Research There is now a total of 7.33% of the total supply of ETH staked on the Ethereum network and this number is expected to grow in the coming months as it moves closer to the merge. After the merge is completed, APY is expected to increase due to unburnt fee revenue and MEV which will now go to stakers instead of miners in the new proof of stake mechanism. Ethereum Moving Towards The Merge The race towards complete merge with Ethereum 2.0 is still on but there has been some infrastructure put in place to ensure that the network gets there. One of those is the multi-operator validator network, Lido, built by the Obol Network. This allows for liquid staking tokens on the ethereum network. Related Reading | Bitcoin Leads As Markets Sees Record Outflows. Bear Market Incoming? Rocket Pool is also another decentralized staking service that went live on the main net. These two have been part of helping the network push towards 2.0 while making it easier for users to stake their tokens. On Monday, the Kintsugi testnet was released. It is the first public testnet of significance that was released on ethereum and will precede some other testnets to come, that show how the network will work after the merge. ETH continues downtrend | Source: ETHUSD on TradingView.com Featured image from BitcoinKE, chart from TradingView.com
On Wednesday, the Singapore-based digital currency exchange Crypto.com told the press that the firm purchased a 2022 Super Bowl advertisement slot. The firm follows the exchange FTX after the trading platform purchased a Super Bowl advertisement slot in October. Crypto.com Tells the Press the Exchange Purchased a Super Bowl LVI Advertisement Purchasing an ad slot […]
Hi, My friend and I recently started working for a company, we got a small pay today. I received it normally, but when my friend received it, 3 min later it was out of his wallet again to another address. Why is that? Can we get it back (I guess not) ? His metamask has…
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