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Samsung Electronics rose 1.3% in the afternoon, lagging behind the broader market; SK Hynix shares rose 7%.May 13th - Data released Wednesday by consulting firm Benchmark Mineral Intelligence shows that global demand for electric vehicles rose for the second consecutive month in April, primarily driven by persistently high gasoline prices prompting buyers to abandon gasoline-powered cars. BMI stated that, as a measure of sales volume, the number of newly registered pure electric vehicles and plug-in hybrid electric vehicles increased by 6% year-on-year in April, reaching 1.6 million units, although this figure is 9% lower than the record high set in March.The European-Mediterranean Seismological Centre reported that a 4.3-magnitude earthquake struck off the coast of Chiapas, Mexico, at 12:05:41 Beijing time, with a focal depth of 15 kilometers.On May 13th, at the Create2026 Baidu AI Developer Conference, Shen Dou, Executive Vice President of Baidu Group and President of Baidu Smart Cloud Business Group, revealed that the Kunlun Chip P800 has completed large-scale verification, and multiple 10,000-card clusters have been delivered since 2025. Furthermore, on the Kunlun Chips domestically produced clusters, training on the important version 5.1 of Wenxin has been successfully completed, achieving an effective training rate of 97% for the entire cluster. The linear scalability of the 10,000-card cluster exceeds 85%, meeting the requirements of cutting-edge large-scale model training for computational accuracy, operator stability, framework adaptation, and long-term operation. In addition, the Tianchi 256-card supernode based on the Kunlun Chip was lit up last month and will be officially launched in June.On May 13th, Dirk Pant, the Minister of Economic Affairs of Saxony, Germany, stated that as the German automotive industry faces pressure to transform, a more pragmatic approach should be taken to cooperation with Chinese automakers. He suggested introducing Chinese partners to participate in the states automotive plants through joint ventures and other means. Pant also noted that the global automotive industry landscape is undergoing profound changes, with China becoming an innovation driver and industry leader in areas such as electric vehicles and battery technology. Chinese automakers and joint ventures have already begun local production in several European countries. "Anyone who hopes to secure the future of the Saxon and even the German automotive industry cannot ignore this reality," he said.

The Russian Ministry of Finance Has Completed A Bill To Regulate Cryptocurrency Mining

Cory Russell

Apr 18, 2022 10:54

The draft legislation of the crypto bill "On Digital Currency" by the Ministry of Finance (MoF) emphasizes mining and trading laws.


Operators of exchanges and digital trading platforms will be licensed and regulated by a Russian government entity.


The new rule comes as a result of a rising desire for mining among Russian ministers.


Russia's new crypto regulatory law, according to information supplied by Russian news source Kommersant, would be rigorous in its approach.


The most current version of the draft legislation covers the new trading and mining laws for cryptocurrencies (Bitcoin, Ethereum, Litecoin, and others) introduced under the bill "On Digital Currency."

Russia Creates New Crypto Bill

The bill's additional standards for exchange and digital trading platform providers were one of the bill's centerpieces. According to Kommersant, these operators will now work as a team.


The exchange operators will be the ones to buy and sell cryptocurrencies on their own behalf and at their own cost, while the operators of digital trading platforms will be in charge of the organized bidding.


Additionally, these operators will be required to establish a distinct structural unit, produce yearly reports, meet the needs of new management bodies, perform internal control and auditing, and more.


They will also need to be classified as an AML/CFT organization, and their operations will be regulated and licensed by a Russian government authority.


Finally, for the first time, the measure will concentrate on the crypto mining process and companies. After registering with the appropriate authorities, legal companies, and individual miners, the law specified that crypto mining might be done.


These operations will be taxed individually, and data centers will be made available for mining if the owner is a Russian legal company.

Mining is in high demand

While the Russian government was planning to take cryptocurrency in January, things started to pick up pace once the Russian-Ukraine conflict erupted. Not only was the demand for cryptocurrencies increasing, but so was the need for mining.


Russia's Deputy Energy Minister, Evgeny Grabchak, stressed that the legal void around crypto mining must be filled as quickly as possible, with a clear set of laws and regulations in place.


To make the process more efficient, he advised decentralizing it by choosing mining locations on a more regional level rather than at the federal level.


With these rules about to take effect in the near future, it seems that the transition from calling for a mining ban to accepting controls is more of a necessity than a natural shift of attitude.

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