The Russian government has prepared a memo on the law “On digital financial assets” that states the “exchange of cryptocurrencies for fiat money to the amount of 600,000 rubles (around $10,000) and more has to be subject to mandatory currency control,” Russian publication Izvestiya reports.
Bisq Co-Founder Chris Beams: There’s a Fundamental and Ultimately Fatal Flaw In the Centralized Cryptocurrency Exchange Model
In the light of the recent Coincheck hack which resulted in theft of over $500 million in NEM (XEM) cryptocurrency, the ongoing debate on the importance of decentralized solutions is taking another turn highlighting issues such as the vulnerability of ‘traditional’ centralized platforms and users having to sacrifice the control.
Following the presentation of a drafted bill to place regulations on the usage of cryptocurrency in Russia on December 28, a list of approved cryptocurrency trading platforms is being developed by the Russian Ministry of Finance.
German Sterligov, an eccentric Russian entrepreneur, has launched a cryptocurrency exchange named CryptoSterlingClub Alice.
Eccentric Russian entrepreneur German Sterligov has announced that he is going to open the first official bitcoin store in Russia. However, this advocate of ‘spiritual bonds’ notes that bitcoin prices at his store will always be higher than those on the market.
The Russian parliament is preparing a bill that, if passed, may legalize e-cash and establish legal grounds to open regulated cryptocurrency exchanges, according to Elina Sidorenko, the head of the the Russian Central Bank’s working group on cryptocurrencies.
The idea of creating an insurance platform for the cryptocurrency industry has been on the front burner for a while. There are plenty of stories telling how blockchain and bitcoin related projects fail because of hackers, insufficient security or simply human errors. All these factors impede the industry’s development, scare.
Cryptocurrency exchange Bitfinex has announced it restored its operations, and activated depositing and withdrawing funds. All currency pairs are to be available for trading, while depositing and withdrawing is currently available for BTC, ETH, ETC and USD only.