Terra will be checked for fraud and mining in China.

Posted 20 May, 2022

Monday
Representatives of 44 countries will discuss issues related to bitcoin in El Salvador.

32 heads of central banks and 12 heads of financial structures will visit the Central American country. On the agenda: digital economy, serving people who do not have access to banking services, and the introduction of BTC.

The State Duma announced the possibility of issuing the first CFA in Russia before the end of the year.

The country is actively working on the development of regulation of digital financial assets, says Anatoly Aksakov, head of the Duma Committee on the financial market.


Tuesday
The ECB spoke about the possibility of completing tests of the digital euro by 2026.

The European Central Bank is stepping up the development of a centralized digital currency amid rising financial instability.

China is back among the leaders in bitcoin mining despite restrictions.

China still accounts for more than 21% of the total global bitcoin network hash rate after the local government imposed a mining ban on the country last year.


Wednesday
Three top lawyers quit Terraform Labs.

Terraform Labs' legal team resigned shortly after the collapse of the UST stable coin caused panic in the crypto markets.

The State Duma supported in the first reading the bill on CFA taxation.

The document establishes the specifics of taxing VAT on transactions with digital financial assets, and also introduces a tax on corporate profits and income of individuals from the sale of digital assets.


Thursday
Ministry of Internal Affairs agreed on a bill on digital currency.

The document takes into account the comments proposed by the department, including those related to the creation of an electronic wallet for storing confiscated and arrested cryptocurrencies.

Manturov promised to recognize cryptocurrencies as a means of payment. Lawyers are skeptical.

The head of the Ministry of Industry and Trade, Denis Manturov, suggested that digital assets could be legalized in the country. However, the Central Bank opposes their recognition as a means of payment and this option is not considered in any of the bills.


Friday
South Korean prosecutor's office to check Terra for signs of a financial pyramid.

Law enforcement agencies began checking the project for fraud the day after investors announced plans to sue.

On May 20, the ex-head of BitMEX will be sentenced. He faces up to 12 months in prison.

In February, Arthur Hayes pleaded guilty to the BitMEX exchange’s flouting of KYC and AML principles.

Vitalik Buterin called the term for stopping mining Ethereum.

The creator of the largest altcoin by capitalization told when the network is expected to switch from the current Proof-of-Work algorithm to Proof-of-Stake, which does not involve the participation of miners.

 

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20 May, 2022 16:41

← Commodities: aluminum and gold recover, sugar climbs

“Prices were supported by the upcoming easing of coronavirus restrictions in Shanghai and the weakness of the US dollar,” said Daniel Briesemann, an analyst at Commerzbank.

 

Commodities: aluminum and gold recover, sugar climbs

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20 May, 2022 10:16

Yesterday on Wall Street →

The New York Stock Exchange ended in the red again after a seesaw session, as investors remained concerned about inflation. 

Yesterday on Wall Street
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