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Market news: Ukraine is seeking to raise another €1 billion to purchase US weapons by the end of the year.December 1st - Broadstone analyst Paul Matthews noted in a report that UK mortgages may become more affordable by the end of the year, as the Bank of England is expected to cut interest rates to 3.75% on December 18th. Bank of England data released Monday showed that mortgage approvals fell by approximately 600 to 65,018 in October. Matthews stated that this decline was due to weak consumer confidence ahead of the budget announcement. "The worst may be over in terms of further tax increases, which should provide a stable forward direction for financial planning."On December 1st, shipping company Besiktas confirmed that a diesel tanker carrying diesel fuel was attacked by four external explosions in waters near Dakar, Senegal. This is the third attack on a Russian-linked vessel in the past few days. The statement indicated that the "Mercin" tankers engine room had taken on water, but the ship was in stable condition, all crew members were safe, and no pollution incidents had occurred.On December 1st, Alexandre Caminade, Head of Sovereign, Emerging Markets and Integrated Fixed Income at Ostrum Asset Management, noted in a report that the long-term outlook for US interest rates remains uncertain, and volatility is likely to persist due to monetary and political uncertainty. Continued inflation could slow the Federal Reserves rate-cutting cycle, while a reshuffle of Fed policymakers could have the opposite effect. "Furthermore, the midterm elections, high budget deficits, the Trump administrations policies, the high valuations of AI companies, and the vulnerability of unlisted credit could all contribute to a degree of volatility in 2026," he stated.Bank of America Global Research: The Federal Reserve is expected to cut interest rates by 25 basis points in December 2025, whereas previous forecasts predicted no rate cut.

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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