Moscow Exchange Suggests Issuing Crypto Receipts for Those Afraid of Blockchain

The Moscow Exchange has proposed to legalize the issuance of receipts for digital financial assets. The trading platform says this will allow custodians to offer clients who are not ready for distributed ledgers to essentially work with securities. MOEX also plans to become a licensed crypto exchange operator. Largest Russian Stock Exchange Gears Up to Enter Digital Asset Market The leading exchange for equities and derivatives in Russia has drafted new legislation that would authorize depositories to issue receipts for digital financial assets (DFAs). In current Russian law, the broad…

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As Biden Drains the SPR Down to 1984 Levels, Chinese State Media Claims US Dollar ‘Is Once Again the World’s Problem’

Two days ago, U.S. president Joe Biden was criticized for claiming inflation in America hasn’t increased during the past few months. “I’m telling the American people that we’re going to get control of inflation,” Biden stressed during his “60 Minutes” interview that aired on Sunday night. Amid Biden’s claims, ahead of the next Federal Reserve meeting on Wednesday, the U.S. Dollar Index (DXY) crept up to the 110.776 region. Meanwhile, a recent report published by CCP-backed Global Times is pressing for de-dollarization as the U.S. dollar’s rise “might be the…

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US Treasury sanctions 5 crypto addresses connected to Russian neo-Nazi paramilitary group

The United States Department of the Treasury added five cryptocurrency addresses tied to a neo-Nazi group involved in Russia’s war on Ukraine to list of entities sanctioned by the Office of Foreign Asset Control. In a Thursday notice, the U.S. Treasury designated 22 individuals and 2 entities, including many the government department claimed had furthered the Russian government’s objectives in Ukraine, to its list of Specially Designated Nationals, effectively barring U.S. persons and companies from dealing with them. Included in sanctions of one of the entities — a neo-Nazi paramilitary…

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Hungary’s Prime Minister Says ‘Europe Has Run out of Energy’ Amid Russia’s Gas Standoff

Europe is suffering and struggling to contain an energy crisis according to various reports that say the eurozone might have to deal with a cold winter that could lead to energy rationing and blackouts. A recent survey published by the General Confederation of Greek Workers (GSEE) shows seven out of ten Greeks purchase less food in order to pay for energy costs and fuel. Moreover, Hungary’s prime minister Viktor Orban explained in a social media post on Saturday that “Europe has run out of energy.” EU Deals With Ongoing Energy…

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Russia’s Media Censor Roskomnadzor Unblocks Tor Project’s Website

Russian telecom and mass media watchdog Roskomnadzor has restored access to the website of the Tor Project, implementing a court ruling with delay. The site was blacklisted last year but the measure was successfully challenged by lawyers. Roskomnadzor Removes Tor Project’s Site From Blacklist of Banned Internet Pages Russia’s Federal Service for Supervision of Communications, Information Technology and Mass Media, also known as Roskomnadzor or RKN, has taken the Tor Project’s main site out of its register of internet sources restricted for disseminating prohibited information. The delisting follows a court’s…

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Russian State Duma Adopts Law Banning Payments With Digital Financial Assets

The lower house of Russian parliament has adopted a law prohibiting the use of digital financial assets in payments. To implement the restriction, exchange operators have been obliged to reject transactions which make it possible to employ these assets as a means of payment. Russian Parliament Approves Legislation Preventing Digital Financial Asset Payments The majority in the State Duma, the lower house of Russia’s Federal Assembly, has supported the adoption of a bill banning payments for goods and services using digital financial assets (DFAs) within the Russian Federation. Under current…

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Russian Finance Ministry Rules Out Sale of Oil for Bitcoin

The Russian government considers bitcoin as a payment option for small business transactions, not for oil exports, the country’s finance ministry has indicated. A top official emphasized the department means that cryptocurrencies may be used in barter deals, but not as legal tender. Crypto Payments Not for Russian State Settlements, Ministry of Finance Says Cryptocurrency payments, in terms of international transactions, are seen by the authorities in Moscow as an alternative option for small private business contracts, but this will not affect Russian oil deliveries. The clarification was made by…

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Bill to ban digital assets as payment passed the first reading in the Russian parliament

A bill that had been introduced a week ago to the State Duma, the lower chamber of Russian Parliament, made a swift passing through first reading. Should it become a law, it would prohibit using “digital financial actives” (DFA) to pay for goods or services.  As reported by local media on Tuesday, the bill, sponsored by the head of the Financial Markets Committee of the State Duma Anatoly Aksakov, passed with a reservation. Albeit the document suggests an obligation for DFA exchange managers to withhold any deals implicating the usage…

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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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Russia’s Industrial Giant Rostec Announces Blockchain-Based Alternative to SWIFT

Rostec, the Russian manufacturing and technology conglomerate, has developed a system allowing the processing of international settlements and storage of digital currency. The blockchain-based platform has been announced as an alternative to SWIFT, which is unavailable for some Russian banks. Rostec Employs Distributed Ledger Technology to Substitute SWIFT Russian state-owned corporation Rostec has built a platform using blockchain technologies to facilitate international settlements between Russia and its partners and the storage of digital currency. CELLS is intended as an alternative to the global payment messaging system SWIFT, from which a…

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