The Bank of Russia is set to regulate digital asset taxation, and exchange, yet opposes crypto.
According to current Russian law, the term DFA refers to coins and tokens with a single entity, unlike cryptocurrencies such as bitcoin.
The bank’s vice president, Olga Skorobogatova, explained that the proposals are about three main objectives – reforming taxation and eliminating tax arbitrage, developing exchange platforms and regulating smart contracts. He said the monetary authority is currently reviewing nine applications from companies seeking license applications to issue and circulate digital financial assets, of which it has already approved three “information system operators” – Sberbank, Atomys and Lighthouse. Is.
He has not clarified who is responsible for private cryptocurrencies, which are opaque and carry volatility risks.
Crypto exchange Kraken freezes accounts of FTX, Alameda Research and executives.
The reason for the account freezing is due to unauthorized transfers on FTX and exposure to Kraken law enforcement. Most of the accounts owned by bankrupt FTX Group, Alameda Research and their executives have been talked about with law enforcement and have frozen those accounts to protect their creditors that won’t affect other customers. General of FTX According to Counsel Rhine Miller, as widely reported, there has been unauthorized access to some properties and we are investigating.
Kraken CEO Discusses Consequences of FTX’s Defeat – Says The Crypto Industry Has Been Huge Damage, It Will Take Years To Correct
The CEO of cryptocurrency exchange Kraken, Jesse Powell, expressed his views on the loss of FTX in tweets on Thursday, saying that the loss here is huge and is a gift to bitcoin haters around the world. VCs, media, ‘experts’ ’ failed,” and people “destroyed their own reputations. US lawmakers and regulators also have some responsibility.” Enforcement unfairly focuses on facilitating, on-shore good actors.
Arch Invest CEO warned that the Fed’s actions lead to the Great Depression of 1929-
Kathy Wood, who is also the CIO of the investment management firm, expressed her views on inflation by noting that the Federal Reserve raised interest rates in 1929 “to suppress financial hardship” and taxed more than 50% tariffs on more than 20,000 items. As a result, the global economy was pushed into a ditch. If the Fed continues to raise interest rates, it will be like in 1929. SpaceX and Twitter boss Elon Musk agreed.
Binance CEO Compares FTX Fiasco to 2008 Financial Crisis
Binance CEO Changpeng Zhao made a statement based on the FTX drop that consumer confidence has indeed shaken and this distrust seems to hold them back a few years. He said that these developments are disastrous for the industry and disappoint consumers and they feel that it is not fair in any way. The closer they are, the more they will be negatively affected.
Zhao also said that it will take some effort and we have to do a rebuild no
