Consider the most significant events in the cryptocurrency market over the past week. This time the news background controversial enough, but there are some interesting news that deserve our attention.
Bitcoin ups and downs
Bitcoin price did not please us with anything specialthis week. The first cryptocurrency started it above the level of $ 10,400, followed by a series of falls and take-offs. On Wednesday, bitcoin hit a low of $ 10.013, which pretty much scared investors. Nobody wanted to once again see the descent into the range of $ 9.000.
However, the bulls not only managed to stayafloat, but also return quotes almost to their original values. After the recession, bitcoin returned above $ 10,400, but then volatility ate part of this growth. Now BTC is trading close to the values with which it started the week.
Bitcoin ETF: not yet approved, no longer banned
Positive rhetoric about the futureBitcoin ETF flashed from the mouth of SEC head Jay Clayton. He stated that significant progress has been made in approving this investment instrument, but problems still prevent the green light from lighting.
Among them, Clayton notes the lack of reliablecustodial services and price manipulation of bitcoin. If the second problem is still unrealistic to solve (say thanks to the whales), then with cryptocurrency storage services, it’s worth waiting for progress in the very near future.
Libra traded USA to Switzerland
On Wednesday, it became known that LibraAssociation has applied for a financial license in Switzerland. It will allow the company to launch cryptocurrency in the country, as well as in several other jurisdictions.
Moreover, the company expects financialsupervision by Swiss regulators will reduce the level of distrust in the United States. Weakly believe in it, but the project definitely can’t stand still and wait until the states change rhetoric.
In Russia, it was proposed to criminalize the concealment of cryptocurrencies
The Association of Banks of Russia (ADB) made a number of proposals aimed at streamlining the circulation of cryptocurrencies, TASS writes with reference to the vice president of the organization Anatoly Kozlachkov.
According to ADB's idea, digital assets shouldmake available for recovery as part of enforcement proceedings, bankruptcy or taxation. In the proposed scheme, market agents will provide lenders with services to establish owners of digital assets, Kozlachkov said.
Digital asset ownershipIt is proposed to carry out in court. After a court decision is made, their owner will be required to provide the keys to the corresponding crypto-wallets. It is necessary to introduce criminal liability for hiding digital assets and refusing to transfer keys, according to ADB. From this position it follows that the anonymous use of cryptocurrencies will become impossible.
Differentiation of the order is also provided.taxation of various cryptocurrency transactions. So, it is proposed to bring in transactions for the purchase of goods and services under the exchange taxation, and levy income tax on cryptocurrency purchase and sale transactions.
To account for transactions with cryptocurrencies and taxation of profits, ADB proposes to oblige individuals to declare the purchase of digital currencies within the framework of tax legislation.
North Korea legalizes cryptocurrency
Interesting news came from one of the mostInteresting countries: North Korean authorities allowed residents to own a cryptocurrency. Moreover, the country is actively working to create its own ecosystem: wallets, exchange and other services for interacting with digital currencies.
Considering that the country has a dead weight on sanctions from almost the whole world, cryptocurrencies can at least help its inhabitants a little.
Dmitry Medvedev against blockchain regulation
Russian Prime Minister Dmitry Medvedev said that at the moment it makes no sense to push the blockchain into the legal framework and try to regulate it.
The reason for this is the variability of technology caused by its rapid development. He is confident that in a year the situation with the blockchain will change so that any regulation will lose relevance.
Cryptocurrency regulation in Russia is approaching
The issue of legalization or complete prohibition of turnovercryptocurrencies in the Russian financial system will be considered at a meeting with First Deputy Prime Minister Anton Siluanov on September 18, said Anatoly Aksakov, head of the State Duma committee on the financial market, on the sidelines of the Russia Association forum in Sochi.
“Next week we have a meeting with the First Deputy Prime Minister on this issue”- said the deputy.
Aksakov noted that in general, the bill on digital financial assets is ready.
“In principle, in order to deploy it to thator the other side, we need a maximum of two weeks. That is, when making a decision in either direction, we can prescribe what either the relevant institutions legalize or prohibit ”, - he said.