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Russian Central Bank Urges Government To Fully Ban Cryptocurrency

Russian Central Bank Urges Government To Fully Ban Cryptocurrency

Markets
Russia must ban cryptocurrencies, the country's central bank said in a report released Thursday. The report, "Cryptocurrencies: trends, risks, measures," was presented during an online press conference with Elizaveta Danilova, the director of the Bank of Russia's Financial Stability Department. The report says cryptocurrencies are volatile and widely used in illegal activities such as fraud. By offering an outlet for people to take their money out of the national economy, they risk undermining it and making the regulator's job of maintaining optimal monetary policies harder, the report says. The bank, therefore, suggest Russia needs new laws and regulations that effectively ban any crypto-related activities in the country. In particular, cryptocurrency issuance and organizati...
UK Finance Regulator Looking To Stamp Out Specious Cryptocurrency Adverts

UK Finance Regulator Looking To Stamp Out Specious Cryptocurrency Adverts

Markets
The UK government published plans to strengthen the rules on crypto advertisements and protect consumers from misleading claims today. At the moment, an estimated 2.3 million people in the UK own a crypto asset and their popularity is on the rise. Research suggests that not all users fully understand what they are buying when buying crypto, however, which poses the risk of fraud. Promotion of assets subject to FCA rules Promotion of qualifying crypto assets will be in line with rules formulated by the UK finance regular, - the Financial Conduct Authority. Crypto assets will have to meet the same standards that assets like shares and stocks must meet. Rishi Sunak, Chancellor of the Exchequer, said:"Cryptoassets can provide exciting new opportunities, offering people new way...
Top US Bank Sees Big Future For Solana In Daily Consumer Use

Top US Bank Sees Big Future For Solana In Daily Consumer Use

Markets
Bank of America digital asset strategist Alkesh Shah has predicted that Ethereum competitor Solana could become the “Visa of the digital asset ecosystem” in a Tuesday research note. The Solana network launched in 2020, and its native token, SOL, has since grown into the fifth-largest cryptocurrency with a market capitalization of $47 billion. An order of magnitude faster than Ethereum, it has been used to settle over 50 billion transactions and mint over 5.7 million nonfungible tokens (NFT). Critics, however, argue its speed comes at the cost of decentralization and reliability, but Shah thinks the benefits outweigh the drawbacks: “Its ability to provide high throughput, low cost and ease of use creates a blockchain optimized for consumer use cases like micropayments, DeFi, N...
US Congress To Debate Bill Calling For Ban On Government Backed Cryptocurrency

US Congress To Debate Bill Calling For Ban On Government Backed Cryptocurrency

Markets
As the Fed pushes ahead with its crypto investigation into a digital dollar —which would create competition for major cryptocurrencies, such as bitcoin, ethereum, solana, XRP, and BNB—one congressman is seeking to ban government-issued digital currencies. This past Wednesday, Minnesota Republican Representative, Tom Emmer, introduced a bill that would put a damper on the Fed’s powers in issuing a digital currency directly to American citizens, which he thinks would put the nation on an authoritarian path. “Requiring users to open up an account at the Fed to access a US CBDC would put the Fed on an insidious path akin to China's digital authoritarianism," he said in a statement. "It is important to note that the Fed does not, and should not, have the authority to offer retail ban...
NEAR Foundation Secures A Stunning $150m Investment From Digital Coin Venture Capitalists

NEAR Foundation Secures A Stunning $150m Investment From Digital Coin Venture Capitalists

Markets
Not for Profit layer-1 blockchain developer, NEAR foundation has recently announced they’ve secured $150 million in a funding round. The main investors are all well known cryptocurrency investment firms. They include, Dragonfly Capital, Three Arrows Capital, Amber Group, Mechanism Capital, Andreessen Horowitz, Mechanism Capital, and other crypto centered investors. NEAR foundation is preparing to enter to DeFi sector, and it’s understood that these funds will be used to help them achieve that. As is often seen before a major funding announcement, NEAR coin has been rising up the crypto charts and has increased in price by 24% compared to a week ago, on January 6th. According to Dragonfly general partner Ashwin Ramachandran, the raise was completed “end to end” in two weeks, r...
Acceptance Of Cryptocurrency Payments In The Housing Market Continues To Increase

Acceptance Of Cryptocurrency Payments In The Housing Market Continues To Increase

Markets
Cryptocurrency payments for real estate are taking off, according to Upnest.com. And it’s not just bitcoin. Real-estate developer, Harbor Custom Development, will start accepting cryptocurrency payments for its developments, starting Jan. 24, 2022. The company will accept Bitcoin, Ethereum, USDC, XRP, DOGE, SHIB, Binance USD, Wrapped BTC, Litecoin, Dai, Bitcoin Cash, Pax Dollar, and Gemini Dollar. Before the launch date, the company may add or remove cryptocurrencies from the list. They will accept cryptocurrency for various real-estate types, including condominiums, apartments, residential homes, developed lots, and listed land. The company does work in Puget Sound, Sacramento, California, Austin, Texas, and Punta Gorda, Florida. All deals will ultimately be settled in dollars....
Do These Metaverse Coins Have The Potential To Propel Your Wealth In 2022

Do These Metaverse Coins Have The Potential To Propel Your Wealth In 2022

Markets
Even though crypto markets are struggling right now, Metaverse crypto coins are holding support well, with some gaining over 1000% in the past 7 days. This article looks at our handpicked top ten Metaverse crypto coins that could propel your wealth in 2022, ordered by the current market cap, lowest to highest. 10 Verasity (VRA) – $114M Launched in 2019, Verasity enables users to earn VRA tokens by viewing videos with its proprietary Proof-of-View (PoV) protocol. Verasity’s network ensures that traffic is organic, increasing advertising revenue for publishers. Verasity includes three main products, VeraViews, VeraWallet, and VeraEsports. VeraViews is an end-to-end ad-stack solution combining aspects of transparency and accountability with VRA’s proof of view protocol. VeraW...
Can Metaverse Help Standardize Digital Asset Reporting

Can Metaverse Help Standardize Digital Asset Reporting

Markets
The idea of the metaverse has rapidly seized the public conversation, for good or bad, and is a recurring theme in a good number of crypto conversations. Even with all of this conversation, however, there still is a gap between what crypto native organizations or experts perceive the metaverse to be, and what the – much larger – non-expert population understands the concept to represent. Despite this, the trend and pivot toward augmented and virtual reality applications is seeming to continue unabated, and this has several important implications for the cryptoasset marketplace going forward. Accounting, auditing, and the valuation of cryptoassets all represent issues and open items for every market participant seeking to integrate these financial instruments into ongoing operations...
Digital Asset Company Officially Accepts Ripple Under Its Custody

Digital Asset Company Officially Accepts Ripple Under Its Custody

Markets
The value of digital assets along with the technology infrastructure that it supports can no longer be ignored, as reflected in the landmark increases in cryptocurrency participation we saw in 2021. Digivault, the digital asset custody business within Nasdaq-listed cryptocurrency exchange, has achieved a 30-fold increase in assets under custody in the 2021 calendar year. The crypto custodian, which already supported 50 tokens, including Bitcoin (BTC), Ethereum (ETH), Bitcoin Cash (BCH), and Polkadot (DOT), has now added Ripple (XRP) to its assets under custody. XRP, the crypto fighting an SEC lawsuit The timing is quite interesting as the company doesn’t seem to be concerned with the potential repercussions stemming from the ongoing SEC v. Ripple lawsuit. Crypto exchang...
Securities and Exchange Commission opens  lawsuit against manager of an Initial Coin Offering

Securities and Exchange Commission opens lawsuit against manager of an Initial Coin Offering

Markets
The United States Securities and Exchange Commission has filed a suit against Australian Craig Derel Sproule for the allegedly “fraudulent and unregistered” sale “of digital asset securities” in an initial coin offering (ICO) his company had conducted in 2018. The SEC alleges in a Thursday complaint that Sproule’s company, Metavine Inc., which operated the ICO for Crowd Machine (CMCT) from January to April 2018, sold unregistered securities, never made the project operational and “materially misrepresented how it intended to use ICO proceeds.” In total, the SEC said Sproule raised at least $33 million but that he now lacks “sufficient capital to fund continued operations.” The reason for his lack of funds goes to the core of the SEC’s case. A Thursday announcement from the SE...