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On April 17th, a memo revealed that the U.S. government is preparing to provide a version of Mythos, an artificial intelligence model developed by Anthropic, to major federal agencies, with enhanced security measures in place, to address concerns that the tool could significantly increase cybersecurity risks. In an email sent Tuesday to cabinet departments, White House Office of Management and Budget (OMB) Federal Chief Information Officer Barbasilia stated that the OMB is establishing safeguards to enable agencies to begin using this highly restricted AI tool in the future. The email did not specify whether agencies would have access to Mythos, nor did it provide a specific timeline or usage method. It only informed heads of technology and cybersecurity departments that more information was expected "in the coming weeks." Currently, Anthropic has only made Mythos available to a limited number of technology companies and financial institutions, encouraging them to use it to assess their own cybersecurity risks. Due to concerns that hackers could exploit the models capabilities to steal data or compromise systems, the company has strictly limited its distribution.On April 17th, US President Trump stated that he expects a deal with Iran to be announced soon, claiming it would bring the US "free oil" and a "free Strait of Hormuz." When asked about the economy and oil prices, Trump said that current oil prices are lower than previously expected. He said, "If you look at the price of oil and the price were paying, its about half of what people were originally expecting, provided you do what I have to do." He added, "I think the negotiations are going very well right now, and if its done, it will be announced very soon, which will give us free oil and a free Strait of Hormuz. Everything will be great, and I think oil prices will be even lower than before."According to Futures News on April 17, as of the close of trading at 2:30 PM, the main Shanghai Gold futures contract fell 0.57%, the main Shanghai Silver futures contract fell 1.41%, and the main SC crude oil futures contract rose 1.28%.April 17th - As of 2:30 PM closing, the Shanghai Gold futures contract fell 0.57% to 1054 yuan/gram, the Shanghai Silver futures contract fell 1.41% to 19524 yuan/kilogram, and the SC Crude Oil futures contract rose 1.28% to 639 yuan/barrel.U.S. State Department: The negotiations aim to resolve all remaining issues, including the demarcation of international land borders.

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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