In the last few months, the standoff between the Central Bank of Russia (CBR) and the country’s Ministry of Finance over crypto regulation has become the key regulatory plot for the Russian crypto community to follow. Simultaneously, however, another important legislative development has been unfolding somewhat under the radar: negotiations around tax code amendments that would make cryptocurrencies a taxable asset class. Here’s how it went down so far. 13% for individuals and 20% for companies As the head of the State Duma’s (the lower chamber of Russian Parliament) financial markets committee, Anatoly Aksakov told local media on April 7 …

Donations made to political parties using cryptocurrencies will be banned in Ireland under new political integrity laws drafted due to concerns around foreign interference in politics. Amendments proposed by Minister Darragh O’Brien also cover rules around foreign donations, misinformation, and other transparency requirements for political parties, citing fears of Russian interference in Ireland’s elections. Speaking with the Independent on Monday, O’Brien said that the laws will further protect Ireland’s democratic system “given the escalating threat of cyber warfare targeting free countries,” and a newly established Electoral Commission will oversee compliance with the laws. It is unclear what percentage or monetary …

Robinhood CEO Vladimir Tenev took to Twitter on Thursday afternoon to explain how Dogecoin (DOGE) could become the “future currency of the Internet.” In a thread of 12 posts to his nearly 200,000 followers, Tenev outlined what steps need to be taken to transform the memecoin into a usable asset for everyday payments and transactions on the internet. Can #Doge truly be the future currency of the Internet and the people? As we added the ability to send/receive DOGE on Robinhood, I’ve been thinking about what that would take. — VLAD (@vladtenev) April 14, 2022 Tenev began by drawing attention …

Institutional investors rejoice, there is one more way to gain exposure to Bitcoin (BTC). The United States Securities and Exchange Commission (SEC) announced overnight the approval of a fourth Bitcoin futures exchange-traded fund (ETF). Fund group Teucrium is behind the most recently approved Bitcoin Futures ETF. The ETF joins a growing number of approved futures ETFs, complementing ProShares, Valkyrie, and VanEck Bitcoin Futures ETFs. Every Bitcoin spot ETF has been rejected to date, however, for one invested observer, the way in which the approval was made could be a boon for expectant spot investors. The plot thickens on the path …

In his monthly crypto tech column, Israeli serial entrepreneur Ariel Shapira covers emerging technologies within the crypto, decentralized finance and blockchain space, as well as their roles in shaping the economy of the 21st century. Traditional finance experts are warming up to the idea of crypto, but outlandish headlines of record-breaking hacks and overhyped projects don’t necessarily reverse its bad rap. Unfortunately, we’ve seen the total value locked in decentralized finance (DeFi) recently nosedive, which isn’t exactly helpful in changing skeptic’s minds. While crypto is much more than its lows, those in the centralized finance (CeFi) space aren’t necessarily jumping …

New warnings from the Australian Securities and Investments Commission (ASIC) on appropriate conduct for financial influencers could have a dramatic impact on the local crypto industry. ASIC’s recent Information Sheet outlines the traps influencers and the companies that hire them could fall into while wittingly or unwittingly promoting financial products. The penalties for failing to heed ASIC’s warnings could lead to millions of dollars in fines for corporations and up to five years in prison for individuals. Although it does not specifically mention crypto influencers, the guidelines certainly apply to them as cryptocurrency investing services are seen as financial products. …

On Thursday, USD Coin (USDC) operator Circle announced that it had selected financial institution BNY Mellon as the custodian of its USDC reserves. Founded in 1784, BNY Mellon is one of the oldest banks in America and possesses over $46.7 trillion in assets under custody or administration worldwide. It serves as a single point of contact for clients looking to manage their investments. With the new partnership, BNY Mellon said it will also explore the possibility of using digital cash for settlement purposes. Roman Regelman, CEO of asset servicing and head of digital at BNY Mellon, gave the following remarks: …

Less than two weeks after the Central Bank of Russia, or CBR, reiterated its position proposing to ban the issuance, mining and circulation of cryptocurrencies in Russia, it appears to have reevaluated its policy. In a press release published on Thursday, the CBR added the country’s biggest lender, Sberbank, to its register of information system operators for digital financial assets. As reported by local news outlet Tass, the CBR stated: “Inclusion in the registry allows companies to issue digital financial assets and exchange them between users within their platforms.” Sberbank’s blockchain platform is based on a distributed ledger technology, which …

On Thursday, the Reserve Bank of India, or RBI, the country's central bank, published a critical bulletin regarding the cryptocurrency industry. While the report praised the innovative distributed ledger technology associated with digital currencies, the RBI dismissed arguments calling for regulation of such assets and called for an outright ban. RBI's core concerns were related to cryptocurrencies threatening the country's financial sovereignty. The RBI wrote: "Historically, private currencies have resulted in instability and therefore have evolved into fiat currencies over centuries. The retrograde step back to private currencies cannot be taken simply because technology allows it without considering the dislocation …

Despite the financial volatility that has engulfed the global economic landscape over the last month or so, there seems to be no stopping the growth of the cryptocurrency market, especially the nonfungible token (NFT) sector. This growth is highlighted by the fact that crypto’s total market capitalization has increased from around $800 billion to $1.8 trillion since the start of 2021. Furthermore, a report from NonFungible.com released late last month reveals that sales associated with the NFT market ballooned to hit an all-time high of $17.6 billion during 2021, representing an increase of 21,000% from 2020. The report further suggests …

Cointelegraph sat down with Leah Wald, CEO of digital asset investment firm Valkyrie Investments, to learn more about the importance of a Bitcoin (BTC) exchange-traded fund (ETF) and the future of digital assets. For context, Valkyrie Investments was launched in 2021 and is one of the only asset managers to have three Bitcoin-adjacent ETFs trading on the Nasdaq. Valkyrie launched a Bitcoin Strategy ETF in October 2021, which offered indirect exposure to BTC with cash-settled futures contracts following a United States Securities and Exchange (SEC) approval for a similar ETF from ProShares. Valkyrie also has a balance sheet opportunities ETF …

Amid the ongoing discussion between the Central Bank of Russia (CBR) and the nation’s Finance Ministry on the future of crypto, a State Duma (the lower chamber of Parliament) working group has voiced their support for regulating rather than banning digital assets. The working group called for the “clear regulation of the digital assets industry” as the most effective approach to lower the risks associated with crypto’s adoption in the country. As reported by local media, some 50 experts took part in the panel session called by the Duma’s working group “On the questions of the regulation of cryptocurrency”. The …