BITCOIN

The organization representing Russia’s crypto sector has asked the government in Moscow to clarify a proposal to introduce criminal liability for “gray” miners. The draft legislation seeks to punish those who fail to report their income to the state and share information about their digital assets. Crypto Companies in Russia Want to Take Part in Ongoing Regulatory Efforts The Russian Association of Cryptoeconomics, Artificial Intelligence and Blockchain ( Racib ) has asked Finance Minister Anton Siluanov to explain a proposal made by his department to introduce penalties for cryptocurrency miners violating the law. In a letter addressed to Siluanov, the industry organization requests an opportunity to get acquainted with the respective draft amendments to the Criminal Code put forward by the Ministry of Finance, which provide for the prosecution of miners for tax evasion, for example. Racib is referring to a package of texts sent by Deputy Finance Minister Alexey Moiseev to the Mi...

The governor of India’s central bank, the Reserve Bank of India (RBI), says the “ongoing U.S. banking crisis” clearly demonstrates the risks cryptocurrency poses to the financial system. The central bank chief added that the “Indian economy remains resilient,” emphasizing that the “worst of inflation is behind us.” India’s Central Bank Governor on Crypto Risks and U.S. Banking Crisis The governor of India’s central bank, the Reserve Bank of India (RBI), cautioned about the risks cryptocurrencies pose to the financial system while commenting on the U.S. banking turmoil at the 17th K P Hormis Commemorative Lecture on Friday. RBI Governor Shaktikanta Das said: Ongoing U.S. banking crisis drives home the importance of robust regulators, sustainable growth and clearly shows risks of private cryptocurrencies to the financial system. Das was referring to the recent collapses of several banks in the U.S. Last Sunday, Signature Bank was seized by the New York State Department of Financi...

The Dubai Multi Commodities Centre, one of the biggest free trade zones in the world, signed agreements with governments and companies in South Korea to bring more Web3 and metaverse businesses to the emirate. The objective of this move is to consolidate the status of Dubai as an international blockchain hub in the region. Dubai Free Trade Zone Inks Web3 and Metaverse Partnership With South Korean Entities Dubai is working to solidify its image as a worldwide decentralized tech hub. The Dubai Multi Commodities Centre, one of the biggest free trade zones in the region, has signed several partnerships with South Korean entities as part of the expansion of Dubai’s business in the Web3 industry. The zone, which is owned by the government of the emirate and has registered more than 20K companies in total, inked these partnerships as the culmination of a series of roadshows made in several cities in Korea. These memorandums of understanding (MoU) were signed with the Korea Blockchain In...