Weekend Roundup: Regulatory Messiness in US, Currency Crisis in Russia, and Time, Inc. Accepts Bitcoin
We reported Tuesday that publishing giant Time, Inc. had begun accepting bitcoin payments for subscriptions to four magazines: Fortune, Health, Travel+Leisure and This Old House. “We believe this is an important step in helping the publishing industry understand and explore new business models that can be enabled with bitcoin,” Coinbase—which will process the payments—wrote on its blog. Ian DeMartino reported Thursday that the State of New York had eased up a little on what people and organizations would need in order to apply for proposed BitLicenses. “[NYDFS Superintendent Lawsky]....
Related News
It is taking more rubles to trade for dollars and bitcoins. Chart via Yahoo Finance. One of the most interesting things to look at when it comes to tracking Bitcoin adoption around the world is the current state of fiat currencies. In the past, we've talked about the current problems in Argentina and Ukraine, and now we can add Russia to the list of countries who are flirting with complete economic turmoil. Over the past few weeks, the Russian ruble has lost 11% of its value against the US dollar. When you annualize this inflation, you get an inflation rate of just over 90%. Most....
Russia could turn to cryptocurrency if it is banned from the SWIFT payments system. Analysts have warned that if Russia is able to use crypto to evade sanctions, “political support in the U.S. for crypto will fall and regulatory risk will rise.”
Crypto Faces Regulatory Risks if Used by Russia to Evade Sanctions
Amid growing talk of banning Russia from the SWIFT global interbank payments system after its invasion of Ukraine, some analysts have warned that Russian President Vladimir Putin could turn to cryptocurrency to evade sanctions.
“We....
Discussions on the future of “virtual currency exchangers” in Russia should be completed in 2022, a high-ranking representative of the country’s financial watchdog has indicated. Following international standards, authorities in Moscow would have to either regulate or ban such platforms. Decision on Digital Currency Exchangers in Russia Expected Next Year Considerations regarding the regulatory treatment of online exchangers working with cryptocurrencies must come to an end in 2022. That’s according to a statement by the Deputy Director of Russia’s....
With ether breaching another all-time high and payments giant Visa expanding its digital currency roadmap, CoinDesk’s Market Daily is back with the latest news roundup.
On Monday, William Suberg reported on the ongoing attempts by the Russian government to hinder cryptocurrency use in the country, which includes blocking access to cryptocurrency information resources. Diana Ngo reported Monday that the Philippines’ legislature had drafted the E-Peso Act 2014, which would create a digital version of the country’s peso. Ian DeMartino reported Tuesday that online auction site CryptoThrift had just more than 15 bitcoins stolen from a hot wallet that was being used for holding money in escrow. “In a move which echoes the country’s recent contingency plans to....