Crypto-Friendly Tax Proposals vs. Stricter Regulations (Regulatory Digest, Dec 14 — 20)

Vlad Nistor is arrested, Switzerland to relax laws, Iran affirms blockchain can help, France rejects tax changes, Russia allows to invest in ICOs, Italy suspends two crypto companies, Hong Kong considers stricter laws, Abkhazia requests mining regulations, Japan publishes a new crypto regulation draft, Russian lawyers to help the crypto industry, France blacklists four crypto websites, Bahrain issues a crypto regulation draft, Russian will not amend its crypto bill

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ABCC Exchange Supports New Singapore Regulation

This is a paid-for submitted press release. CCN does not endorse, nor is responsible for any material included below and isn’t responsible for any damages or losses connected with any products or services mentioned in the press release. CCN urges readers to conduct their own research with due diligence into the company, product or service mentioned The post ABCC Exchange Supports New Singapore Regulation appeared first on CCN
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Russia Is Not Ready to Buy Bitcoin Yet, Russian Official Says

Rumors spread last week that Russia might be pondering the possibility of acquiring a considerable amount of Bitcoins as a means of fighting U.S.-imposed economic sanctions may not be entirely accurate. According to an article published by the news portal Forklog, Elina Sidorenko, chairperson of an interdepartmental working group of the State Duma for managing risks of cryptocurrency turnover, commented that although the country may have an interest in implementing this type of technology, from her point of view she does not see a possibility that such mass adoption will occur in the short or medium term. “Under this statement there is not a bit of common sense, much less ideas that would be considered in government circles. The Russian Federation, like any other country in the world, is simply not ready today to somehow combine its traditional financial system with cryptocurrencies. And to say that in Russia this idea can be implemented in the next at least 30 years is unlikely to be possible” Vladislav Ginko For Sidorenko, recent statements by Vladislav Ginko, an economist at the Russian Presidential Academy of National Economy and Public Administration, which mentioned that Russia was buying at least 10 Bn USD worth in Bitcoin in the first quarter of the year, have no basis because the country does not have the legal structure to allow crypto coins to circulate as legal tender. “Even if Russia wants to place its cryptocurrency assets now, it simply cannot do this, due to the fact that we do not have any mechanisms that would allow us to introduce a system, where these assets would be stored, which authorities would be responsible for it, which would be responsible for abuses and stuff. Such a model under the current criminal, financial and civil legislation in general does not fit. All over the world, a cryptocurrency is considered as a high-risk asset and a similar model, naturally, would not suit anyone,” Despite the above, there is a possibility. The expert mentioned the idea of creating a unified system of payments between countries. According to Sidorenko “the BRICS countries have moved closer to it.” Recently, to stop relying on the manipulation of the Dollar, Russia began a process of shifting its monetary reserves to Yuan and Dollars dumping $101 billion in U.S. holdings from its reserves, shifting into euros and yuan, according to an official report by the Central Bank of Russia The post Russia Is Not Ready to Buy Bitcoin Yet, Russian Official Says appeared first on Ethereum World News.
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SIRIN LABS Opens London Store to Promote FINNEY Blockchain Smartphone, Japan Location Next

Sirin Labs, the firm that launched “world’s most secure phone” two years ago, announced the reopening of its flagship store in London. The store was being rebranded and it will go down in the books of history as the first store in the world that sells blockchain smartphones. The Finney Blockchain Phone Finney is a $999 blockchain smartphone which is running on Sirin OS and is considered ultra-secure. Currently, Finney is available for purchase in the store and online on sirinlabs.com. The Sirin Lab’s Finney device is a combination of design and mobile technology. One of the strongest features of Finney is the Safe Screen which has an independent power switch. The sliding design is an interesting engineering element. This activates the cold storage wallet which grants you access to where you can transact safely and sufficiently verify information. Finney is equipped with Intrusion Prevention System (IPS) which shields from host-based attacks, network attacks, and detects cyber threats. The device’s anterior and posterior has 3D Gorilla Glass. The phone has been framed using mirror polished aluminum and high gloss metal. It also has a metallic Shield Element that surrounds the fingerprint scanner, sensors, and camera. In September 2017, Sirin Labs made public its intentions of creating as well as manufacturing the blockchain smartphone. 2019, Foxconn International Holdings (FIH Mobile) was selected to spearhead the manufacturing of Finney, developing the cold storage wallet hardware and the operating system. The Chairman of Sirin Labs, Kenes Rakishev, stated that as a thriving technology hub, London has attracted more investors as compared to other European centers. After raising more than £1.8 billion, London became an ideal location for Finney. He hopes that the blockchain smartphone will be a platform for other tech firms in the city to reach a larger audience. Zvi Landau, the Co-CEO at Sirin Labs pointed out that, Finney smartphone has provided the security and freedom to the crypto community all over the world. He added that the firm is proud to be selling a leading device that will provide users with a great experience.
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