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According to user reports from the internet monitoring website DownDetector, as of 7:53 p.m. Eastern Time, some users in the United States were unable to access Netflix.The Bank of South Korea set its interest rate at 2.5% on November 27, compared with expectations of 2.50% and the previous value of 2.50%.On November 27th, multiple U.S. law enforcement officials stated that the suspect in the shooting of two National Guard members is 29-year-old Afghan citizen Rahmanullah Lakanwar, who entered the United States in 2021. Earlier that day, two National Guard members were shot near the White House. Both National Guard members sustained critical injuries and are receiving treatment at two different hospitals. The shooter is also seriously wounded.November 27th - The continued appreciation of the yen may bring a turnaround for the South Korean won. The won has lagged behind other emerging market currencies in Asia this quarter, and its correlation with the yen has surged to its highest level since 2007, ranking first among Asian currency pairs, as both currencies become more sensitive to changes in US interest rates and global risk sentiment. "The won shows a higher volatility sensitivity to the yen," noted Rohit Garg, a strategist at Citigroup. The market is currently anticipating a continuation of the yens rebound after hitting a ten-month low last week, which could drive the won stronger. Woori Bank points out that the yens movement is tied to a rare scenario: a convergence of monetary policies between the US and Japan. Economist Min Kyung-won of the bank analyzed, "Expectations of a Bank of Japan rate hike support a downward forecast for the dollar against the yen. If this is compounded by a Fed rate cut, it will strengthen the upward pressure on the yen. Once the yen strengthens, the won is likely to follow suit."Japanese chip stocks generally rose, with Kioxia shares up 3.5%, SoftBank Group up 3.7%, and Advantest up 4.3%.

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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