Russian Parliament to Review Bill Prohibiting Crypto Payments

Legislation making it illegal to pay with cryptocurrencies has been filed with the State Duma, the lower house of Russia’s parliament. The sponsors of the bill want to task crypto platforms to prevent transactions that could facilitate payments with digital assets. Draft Law Banning Use of Cryptocurrency for Payments Submitted to Russian Parliament Russian lawmakers will review a new bill imposing a ban on the use of digital financial assets, a legal term currently encompassing cryptocurrencies, and utilitarian digital rights, or tokens, as a means of payment in Russia. The…

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Crypto industry seeks to educate, influence US lawmakers as it faces increasing regulation

[ad_1] Interaction between the cryptocurrency industry and Capitol Hill is becoming ever more intensive as efforts to regulate crypto grow in tandem with its popularity. The surge in crypto industry lobbying last year was given some concrete parameters in February by crypto analytics startup Crypto Head. It released a report showing that the crypto companies that spent the most money on lobbying in 2021 were Robinhood, Ripple Labs, Coinbase and the Blockchain Association. These organizations were the lobbying leaders during the past five years as well, although with different rankings.…

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British Lawmakers Say a CBDC Is Likely to Hurt Financial Stability — Digital Pound Benefits Overstated – Fintech Bitcoin News

[ad_1] According to British lawmakers, a central bank digital currency (CBDC) is likely to raise the cost of borrowing while hurting financial stability. They insist the touted potential advantages of a digital pound are being overstated. Erosion of Privacy British lawmakers have said the use of a central bank digital currency when making regular payments could potentially hurt financial stability and raise the cost of borrowing, a report has said. In addition, they insist the increasing use of the CBDC could also enable the central bank to monitor spending and…

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Lawmakers in Kazakhstan Propose Registration for Crypto Farms, Higher Electricity Rate for Miners – Mining Bitcoin News

[ad_1] Members of the parliament in Kazakhstan have proposed the establishment of a state register for cryptocurrency farms operating in the country. Alarmed by the growing consumption of energy in the sector, the lawmakers also want to charge miners a higher price for the electricity they use. Mazhilis Members Want Miners in Kazakhstan to Register With Government, Pay More for Power A group of deputies from the Mazhilis, the lower house of Kazakhstan’s bicameral legislature, have voiced concerns over the growing electricity demand. The parliamentarians believe the surge is due…

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