In Russia, authorities are once again proposing measures to regulate the use of cryptocurrencies, while the government is prioritizing the development of emerging technologies in the country. This and more news in this handy daily digest so that you are always informed with the latest events occurring within the crypto world.
📍In Russia, Russian Deputy Prime Minister, Andrey Belousov, stressed that the development of emerging technologies in the near future is one of the main priorities of the country's government. This was stated by Belousov during his speech intervention before the Upper House of the Russian Parliament. The Deputy Prime Minister argued that quantum and genetic technologies, Artificial Intelligence (AI), Blockchain, the Internet of Things (IoT) and new energy sources will foster and drive technological development in Russia in the coming years, making them the main priorities of state policy.
📍On the other hand, the Ministry of Finance continues to impose necessary measures to regulate crypto activity in the country. The Ministry seeks establish criminal penalties for the possessors of cryptocurrencies, to evade paying taxes, or ultimately prohibit the use of cryptocurrencies in Russian territory.
At the beginning of the month, the Russian government imposed several restrictions on transactions with cryptocurrencies, and now, the Ministry of Finance proposes to force the exchanges and cryptocurrency exchanges to inform the tax authority about transfers made in digital currencies. Likewise, users of crypto assets must declare their operations with cryptocurrencies, as well as the content of the transactions. Wallets they own. Failure to do so would result in proposed penalties of up to 3 years in prison and fines of up to 30% of the amount of cryptocurrencies in possession. Several experts consider the proposed new regulations to be too harsh for citizens and the crypto ecosystem in general.
📍Billionaire cryptocurrency investor, Tim Draper, confirmed that in addition to owning 30 thousand units of Bitcoin (BTC), who won at the Silk Road auction, also owns several other cryptocurrencies and altcoins, such as Bitcoin Cash (BCH), Ripple (XRP), Tezos (XTZ) y Aragon (ANT).
During an investor conference, the billionaire explained that his crypto portfolio is diversified because he is a true believer in this technological innovation. In addition, he is convinced that the adoption of cryptocurrencies is coming and that everyone should get “on board.”
📍Chris Larsen, co-founder and CEO of Ripple, reported on his Twitter account that he moved 500 million XRP to the custody service offered by the digital asset management company New York Digital Investment Group (NYDIG)Ripple’s CEO said he has known NYDIG’s founders for some time, and is impressed with their level of security and top-notch institutional standards. Larsen confirmed that “this is truly custody 2.0.”
At the time of the transfer, the 500 million XRP were valued at around $115 million. As of this writing, XRP is worth $0,23 USD per unit. NYDIG is one of the largest cryptocurrency fund managers in the crypto space.
📍In Africa, interest in digital payment systems and cryptocurrencies is growing exponentially. To take advantage of this boom, FastBitcoins se associated with flexpin, the prepaid voucher giant, to increase its global presence. The partnership will allow FastBitcoins to facilitate online payment services without the need for debit or credit cards, and to take advantage of Flexepin's 20 payment points around the world. The partnership also allows the company to extend its payment services to 14 countries in Africa, where demand for cryptocurrencies is growing rapidly.
Continue reading: Russia imposes new rules for blockchain industry companies
