EUR/USD 1.17881
0.096%
Gold 4820.04
0.880%
Oil 63.448
0.833%
USD/JPY 156.710
-0.203%
GBP/USD 1.35489
0.135%
GBP/JPY 212.331
-0.049%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
JPMorgan Chase lowered its price target for Roblox (RBLX.N) from $100 to $75.Hong Kong-listed new energy vehicle stocks fluctuated higher, with NIO-SW (09866.HK) rising over 6%, Li Auto (02015.HK) and Leapmotor (09863.HK) both rising over 4%, and BYD (01211.HK), Geely Automobile (00175.HK), GAC Group (02238.HK), and Xiaomi Group (01810.HK) also following suit.February 6th - The 2026 National Postal Market Supervision Work Conference was held in Quanzhou, Fujian Province on February 5th. The conference outlined six key tasks for 2026: focusing on improving the quality and expanding the industry, implementing the "three improvements" work plan; focusing on enhancing the ability to prevent and resolve risks, maintaining industry stability; focusing on alleviating the urgent needs and concerns of delivery personnel, improving service management; focusing on implementing the real-name registration system for mail and parcels, building a solid security barrier for delivery channels; focusing on rectifying internal competition within the express delivery industry, establishing a standardized and orderly competitive ecosystem; and focusing on implementing the "Interim Regulations on Express Delivery," promoting the green transformation and development of the industry.According to the Wall Street Journal: Sources say xAIs investors believe the startups future is closely intertwined with that of Tesla CEO Elon Musks company. The merger between SpaceX and xAI is predicated on capital flows into the artificial intelligence startup.February 6th - Takehiko Nakao, a former senior foreign exchange official in Japan, stated that while using foreign exchange reserves for currency intervention can have an immediate impact on the market, its effects will be more lasting if combined with sustained interest rate hikes. Nakao served as Vice Minister of Finance for International Affairs from 2011 to 2013. He said, "Using actual funds for intervention can have a strong impact on the market, but if the Bank of Japan simultaneously demonstrates a clear commitment to sustained interest rate hikes, its effects will be more lasting." The Bank of Japan raised interest rates to 0.75% last December, but real borrowing costs remain deep in negative territory. Nakao attributed the yens weakness to the Bank of Japans continued dovish stance, stating that the slow pace of interest rate hikes has resulted in a significantly negative inflation-adjusted interest rate in Japan, and a widening interest rate differential between the US and Japan. He added, "Appropriately responding to inflation through interest rate hikes may also curb excessive jumps in long-term Japanese government bond yields." He warned that if the Bank of Japan delays raising interest rates, the yen could weaken further, and mentioned Warshs nomination as the next Federal Reserve Chairman. He stated, "Wash would likely believe that a strong and stable dollar is in the U.S. interest."

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.

Suggestion