In Russia, annual crypto transactions reached $ 5 billion
In Russia
True to its uncompromising stance on decentralized digital money, the Central Bank of Russia recently stated that cryptocurrency operations "carry significant risks to financial stability and investors, as well as climate risks." The warning was issued with its overview of financial stability for the second and third quarters of 2021.The monetary authority has recognized the rapid growth in market capitalization of digital currencies this year. According to his analysis, the increase in investor interest in technologies such as blockchain, smart contracts, decentralized finance and stablecoins has played a key role in increasing the prices of cryptocurrencies. The annual volume of cryptographic transactions carried out by Russians reaches $ 5 billion, according to the Bank of Russia
Citing various analytical studies, the financial regulator admitted that residents of the Russian Federation are among the most active participants in the cryptographic space. Russians are also some of the most frequent users of cryptocurrency platforms. Russia is one of the leaders in terms of the number of visits to Binance, the leading cryptocurrency exchange in the world.
Referring to the estimates of the large financial institutions interviewed last July, the Bank of Russia notes that the annual volume of digital currency transactions carried out by Russians amounts to approximately $ 5 billion. However, the Central Bank of Russia also notes that the anonymous nature of cryptocurrencies contributes to their use in criminal activities such as money laundering and terrorist financing.
The central bank, which consistently rejects the legalization of cryptocurrency as legal tender in the Russian Federation, has also pointed to other related risks, including the conversion of fiat savings into crypto-assets. The CBR views cryptocurrencies as unreliable as a store of value due to their price volatility. The regulator is also concerned about the energy-intensive nature of bitcoin mining. Rich in energy resources, Russia is an attractive destination for miners and some of its provinces, where electricity tariffs are quite low, have called for industry regulation. A growing number of officials in Moscow now think mining should be legalized as a business activity and taxed as such.
Ukraine says Russia might begin 'large-scale escalation' in January
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U.S., Russian envoys meet as Ukraine crisis dragsU.S. SECRETARY OF STATE ANTONY BLINKEN: 'It takes two to tango. And if, if our Russian friends are prepared to implement their commitments under Minsk (Agreement) and our Ukrainian friends are as well, we will fully support that and that is the best way to avert a renewed crisis in Ukraine.'U.S. Secretary of State Antony Blinken meeting with his Russian counterpart, Foreign Minister Sergei Lavrov, in Stockholm on Thursday (December 2) and warning him face-to-face of 'serious consequences' in the form of sanctions if Russia's military launches an invasion of its ally.Lavrov, here, responding that NATO is drawing closer to Russia's borders, and that the 'nightmare scenario of a military confrontation is returning.'It's a diplomatic meeting on neutral ground. Hands are being shaken. The two men refer to each other by their first names. But, make no mistake, the Ukraine crisis is still the main flashpoint in the relationship between Russia and the West, at the worst level in the three decades since the end of the Cold War.A senior U.S. official told Reuters there were no breakthroughs at the Blinken-Lavrov meeting, although both sides agreed to keep the dialogue going, and it's likely going to be intense.Meanwhile the crisis in eastern Europe continues. Reuters visited these separatists, backed by Russia, in Ukraine the day before the Stockholm meeting. Both sides accuse each other of ceasefire violations. Vladimir, here, who did not give us his last name, says the gunfire usually starts in the late afternoon. He says he's spent eight years in these trenches, and hasn't seen his family in ages.The Russian government said on Thursday that it's arrested three suspected Ukrainian operatives, including one planning a bombing using homemade devices, which Ukraine's government has dismissed as a trumped up charge.Russian media are reporting that Moscow hopes a meeting between Presidents Biden and Putin can happen soon.
