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Russia and Iran Partner on the Stablecoin Initiative
Russia and Iran will work together to create a gold-backed stablecoin.
According to Russia’s Vedomosti news agency, Iran is working with Russia to create a “Persian Gulf region token” that would serve as a payment method in foreign trade.
Russia recently began accepting Iranian shipments in a special economic zone called Astrakhan, and the proposed cryptocurrency would help ease transactions in the region.
Russia and Iran are among the countries that have banned cryptocurrency transactions, including Bitcoin and Tether, but Russia’s lower house of parliament recently announced a promise to start regulating cryptocurrencies again in 2023.
Russian lawmaker Anton Tkachev, a member of the information policy, information technology and communications committee, stressed that a joint stablecoin project would only be possible once the digital asset market is fully regulated in Russia.
Dr. Wolfgang Smith merges physics and philosophy in new book
Bitcoin back in business?
Bitcoin soared above $21,000 on Jan. 13 and surpassed $21,500 on Wednesday. The meteoric gains are now demanding the attention of Butcoin skeptics, begging the question: where will Bitcoin go from here?
While we are still technically in a bear market, investor sentiment is improving. According to the Fear and Greed Index, a cryptocurrency-specific metric that measures sentiment using five weighted sources, investor sentiment towards the market has hit a monthly high.
However, many analysts point out that Bitcoin needs to continue above 21,000 in the previous weeks before sentiment turns bullish.
Coinbase ceases operations in Japan
Due to an economic crisis in the country, Coinbase is shutting down its operations in Japan.
The cryptocurrency exchange originally started planning its Japanese expansion during the bear market in 2018. Now, with the fallout from FTX still impacting the broader market, Coinbase has decided to retool and put its operations on hold. Japanese.
Coinbase officially announced on Jan. 18 that the company would be terminating its operations in Japan and conducting a comprehensive review of its operations in the country due to market conditions.
All Coinbase Japan customers will have until February 16 to withdraw their fiat and cryptocurrency holdings from the platform. After February 17, the remaining crypto assets held by Coinbase Japan customers will be converted into Japanese yen. Deposits in fiat currency will no longer be available from January 20, according to CoinTelegraph.
The new report names the most mature blockchain hub “Crypto Valley”.
The CV VC Top 50 Report 2022 was presented today in Davos and proves that the Crypto Valley, which includes Switzerland and Liechtenstein, is the most mature blockchain hub.
It has continued to grow steadily in 2022 thanks to its regulatory expertise and a determined decentralized mindset exhibited by the 1,135 entities that have built from there.
The 2022 VC Top 50 CV report shows that blockchain is evolving into a multi-billion dollar industry in the Crypto Valley.