• Russian Parliament has voted in favor of a draft law allowing the implementation of the digital version of the national currency, the ruble.
• The State Duma passed a bill introducing legislative changes necessary for the realization of the digital ruble project.
• The Bank of Russia plans to start testing the digital ruble with real users and transactions on April 1 and aims for a full launch in 2021.

Russian Parliament Votes in Favor of Digital Ruble

Russian lawmakers have approved a draft law facilitating the implementation of the digital version of the national currency, the ruble. This legislation amends various other acts to introduce definitions and establish procedures related to its launch.

State Duma Passes Digital Ruble Bill on First Reading

The lower house of Russian parliament, the State Duma, has adopted in its first reading a bill introducing legislative changes necessary for launching this state-backed coin’s platform as well as for opening a digital wallet. It assigns sole operator role to Central Bank of Russia (CBR) which will guarantee its safe functioning.

Definition Terms and Procedures

The draft suggests terms like „participant“ and „user“ when referring to those accessing this platform and proposes procedures for doing so without obtaining user consent or notifying data protection body responsible. It also secures status of digital ruble as a currency of Russian Federation while defining other central banks‘ currencies as foreign ones.

Civil Code Amendments

Alongside this bill, amendments were also adopted to Civil Code classifying CBDC as non-cash money while regulating inheritance aspects along with it too. Proposals for further revisions can be accepted by mid-April before second reading takes place.

Testing and Launch Date

Bank or Russia plans to start testing with actual users soon on April 1st with an aim for full launch somewhere during 2021.

• Plena Smart Wallet has launched a referral program that offers rewards worth up to $1,000,000 in $Plena tokens.
• By referring their friends and family to the app, users can earn 50 points for each successful transaction by their referrals.
• The platform is also giving away rewards worth up to $100,000 in $Plena tokens to the Top 100 on the leaderboard.

Join the Plena Smart Wallet Referral Program

Plena Smart Wallet has unveiled its eagerly awaited referral program that offers rewards worth up to $1,000,000 in $Plena tokens. This program incentivizes users to invite their friends and family while offering them a chance to earn some significant rewards.

How To Participate?

To participate in the program, users need to share their referral link with their friends and family. Once a new user downloads the app and signs up through their referral link & successfully completes 3 Transactions on the Fantom chain , both the referring user and the new user will earn 50 points each. Existing customers can make as many referrals as they like but they must be a new Plena App customer.

Win Big Rewards

The more friends and family members you refer, the higher your chances of winning a significant reward. The platform is also giving away rewards worth up to $100,000 in $Plena tokens to the Top 100 on the leaderboard.

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• UBS strategists believe that the upcoming Mt Gox payouts will have minimal impact on the value of Bitcoin.
• Creditors have until March 10 to choose a repayment scheme and payments are expected to occur around September 2023.
• There is still potential for fluctuations in Bitcoin’s value as 142,000 BTC, 69 billion Japanese Yen, and 142,000 Bitcoin Cash are distributed.

UBS Strategists Predict Minimal Impact on Bitcoin Value

A recent report published by market strategists from investment bank UBS states that the upcoming Mt Gox payouts won’t destabilize bitcoin’s value. The payout consists of 142,000 bitcoin (BTC), worth over $3.36 billion using current exchange rates, as well as 142,000 bitcoin cash (BCH) worth over $19 million and $510 million or 69 billion Japanese yen worth of cash. Creditors have until March 10 to choose a repayment scheme and payments are expected to occur around September 2023.

UBS Market Strategists Believe Mt Gox Payouts Won’t Destabilize Bitcoin’s Value

UBS market strategists believe that there is cause for concern over the upcoming Mt Gox distribution but also suggest it may be somewhat overhyped regarding its effect on bitcoin’s price. They point out that while new supply could come to the market, it would be less concentrated than originally thought. Creditors can choose between an early lump sum payment or wait for further proceedings and additional asset recoveries with their funds being paid out in either fiat or crypto currency.

KYC/AML Information Required for Crypto Repayment Option

Users looking to receive their funds in crypto must sign up for a centralized crypto exchange which requires them to submit basic KYC/AML information before they can proceed with the repayment option.

Potential Fluctuations Amid Disbursement of Mt Gox Funds

The UBS strategists noted that there is still potential for fluctuations in Bitcoin’s value amid this disbursement of funds from Mt Gox though they feel it may not be significant given what they call a „retail-led — Bitcoin’s surprising resilience of late“.

Conclusion

Though caution should be exercised when investing in cryptocurrency markets due to volatility associated with them, UBS market strategists claim that the upcoming Mt Gox payouts won’t destabilize bitcoin’s value significantly due largely to its dispersed nature rather than one big hit all at once.

• Ruja Ignatova, the founder of crypto pyramid Onecoin, may have been murdered in Greece in 2018.
• An informant’s report suggests that she was killed on a yacht in the Ionian Sea and her body dismembered and thrown into the water on the order of a drug lord.
• The City Prosecutor’s Office has stated that said report does not constitute a document as it’s unsigned and there is no information about its author.

Murder in the Mediterranean – Another Theory About Onecoin Mastermind’s Fate Circulated

Ruja Ignatova, founder of the crypto pyramid Onecoin, may have been murdered in Greece a year after her disappearance. According to an article from Bureau for Investigative Reporting and Data (Bird.bg), quoting а leaked report from a police informant, the „missing Cryptoqueen“ was killed on a yacht in the Ionian Sea more than four years ago.

Background

Launched in 2014 as a multi-level-marketing network based on a fake cryptocurrency, Onecoin is believed to have defrauded more than 3 million investors globally of over $4 billion. Ignatova, a Bulgarian-born German national, was last seen on Oct. 25, 2017 at the airport in Athens, where she arrived on a flight from Sofia. This past October, the BBC reported she had been alerted about police investigations. Dubbed „the missing Cryptoqueen,“ Ignatova is wanted by Interpol, Europol, and the U.S. Federal Bureau of Investigation (FBI). Previous media reports have also speculated she might have been murdered or that she is still alive and well after changing her appearance through plastic surgery. In July 2022, Greek press revealed police had tried to capture Ignatova after receiving information she was in the country.. Her brother and co-founder Konstantin was detained in Los Angeles in 2019 and extradited to Germany last summer where he awaits trial on fraud charges related to OneCoin’s alleged Ponzi scheme activities.

Leaked Report Suggests Murder On Yacht In Ionian Sea

The conclusion that Ruja Ignatova has been dead since November 2018 is based on evidence obtained during an investigation into last year’s murder of former top police officer in Sofia – head of criminal police department at Bulgarian capital city who was shot dead March 2022 which led investigators to seize an informant’s report found inside а safe box located at his home suggesting that Ruja Ignatova was killed onboard a yacht at Ionian sea with her body being dismembered afterwards then thrown into water following order given by drug lord organization but email sent from City Prosecutor’s Office explains how said report doesn’t qualify as legitimate document according to Criminal Procedure Code due its lacking signature plus lack of info regarding author identity .

Previous Speculations Of Alive And Well Or Murdered

Previous media reports suggested two scenarios – either Ruja Ignatovawas still alive & well after changing her appearance through plastic surgery or else being murdered which now gave way for third possibility resulting from leaked informer’s statement mentioned above since Interpol , Europol & FBI all issued arrest warrants following her mysterious disappearance back 2017 with Konstantin ,her brother & co-founder being detained Los Angeles 2019 before being extradited Germany past summer while he awaits trial related fraud charges involving Ponzi scheme activities orchestrated by OneCoin entity .

Conclusion

In conclusion we can say this article reported yet another theory regarding fate suffered by crypto mogul RujaIgnatovawho vanished without trace November 2018 but up till now nothing conclusive has officially confirmed despite speculations suggesting living incognito or murder allegations supported by recently released informant’s statement claiming said individual got killed onboard yacht Ionian Sea thanks order given drug lord organization with body pieces discarded afterwards though City Prosecutor’s Office questioned validity such document due lack signature plus lack details author identity .

• The US Securities and Exchange Commission (SEC) plans to sue Paxos for violating investor protection laws.
• The New York State Department of Financial Services (NYDFS) has ordered Paxos to stop minting BUSD stablecoin.
• Paxos will end its relationship with the Binance-branded stablecoin in February 2024.

Paxos Receives Wells Notice from SEC

The U.S. Securities and Exchange Commission (SEC) has sent a Wells Notice to financial institution and technology company, Paxos, alleging violations of investor protection laws.

NYDFS Orders Issuer to Stop Minting BUSD

The New York State Department of Financial Services (NYDFS) has issued an order to Paxos requiring it to cease minting the Binance USD (BUSD) stablecoin. This follows an alleged investigation into the firm by the NYDFS that was first reported last month.

Report Claims SEC Plans to Sue Paxos

Sources cited by the Wall Street Journal indicate that the SEC plans to sue Paxos for investor protection violations related to its issuance and management of BUSD. Both companies have declined comment on the matter.

Paxos Manages Two Stablecoins

In addition to BUSD, Paxos manages two other dollar-pegged assets: pax dollar (USDP) and pax gold (PAXG). USDP has a market capitalization of approximately $898 million while PAXG’s is around $492 million, with both coins seeing decreases in supplies over the past year.

Paxos Ends Relationship with Binance Stablecoin in Feb 2024

Following 5 billion BUSD being redeemed in 24 days last month, Paxos announced that it will no longer mint BUSD as part of its agreement with Binance which ends in February 2024.

• Russia’s total capacity of crypto mining facilities has increased in the past year despite the market downturn and sanctions.
• Factors such as depressed prices of mining equipment and stronger interest from domestic customers have been identified as major causes for this trend.
• The expansion of Russian crypto mining farms could potentially be limited by electricity tariffs, taxes, and uncertain legislative prospects.

Russia Expands Crypto Mining Capacity

The total capacity of crypto mining facilities in Russia has been increasing in the past year, despite the market downturn and sanctions, according to a survey of leading operators. Depressed prices of mining equipment and stronger interest from domestic customers have been identified as major factors for the trend.

Total Capacity Reaches 500 MW

At the end 2022, results from a poll among established industry players published by the business daily Kommersant revealed that the capacity of Russian mining farms had exceeded 500 megawatts (MW). Despite this growth, it is expected that expansion could potentially be limited by electricity tariffs and taxes for miners.

Advantages for Mining in Russia

With abundant energy resources and cool climate, the Russian Federation has certain advantages as a mining destination. However, ongoing sanctions have affected the industry by limiting its ability to use cryptocurrencies to circumvent financial restrictions. This has resulted in different effects on businesses operating within Russia’s crypto industry – some companies have doubled their number of data centers while others have reduced their capacity due to reluctance from new international clients.

Uncertain Legislative Prospects

The profitability of crypto mining businesses may decrease if special electricity tariffs or taxes are imposed on coin minting enterprises – something which is yet to be decided upon in terms of legislation. A bill designed to regulate mining in Russia was submitted to parliament November but is yet to be adopted.

Conclusion

In conclusion, although Russia’s total capacity for crypto mines continues to grow despite market downturns and sanctions, there are still various issues that need to be addressed before it can reach its full potential – including taxation rates and legislative decisions related to cryptocurrency regulation.

• FTX Trading Ltd. and the bankruptcy case’s official creditors committee have filed a motion to subpoena FTX co-founder Sam Bankman-Fried, his brother Gabriel Bankman-Fried, his parents Joseph Bankman and Barbara Fried, as well as some of his top deputies.
• The motion claims that specific insiders associated with Bankman-Fried’s dealings could provide much-needed insight into financial matters.
• The current FTX CEO, John J. Ray III, stated that Joseph Bankman and his family had received payments from the firm.

FTX Trading Ltd. and the bankruptcy case’s official creditors committee recently filed a motion to subpoena FTX co-founder Sam Bankman-Fried, his brother Gabriel Bankman-Fried, his parents Joseph Bankman and Barbara Fried, as well as some of his top deputies. The motion seeks to question these individuals in order to gain insight into the financial matters of the company.

The list of individuals includes some of Bankman-Fried’s top deputies, such as FTX co-founder Gary Wang, ex-Alameda Research CEO Caroline Ellison, the former chief operating officer Constance Wang, and the exchange’s former director of engineering Nishad Singh. The lawyers contend that these associates could provide important information about the company’s financial status.

In addition, the current FTX CEO, John J. Ray III, told Congress that Joseph Bankman and „the family certainly received payments“ from FTX. Bankman and Barbara Fried have not been charged with any wrongdoing, but the documents allege that Fried’s political activities were associated with the firm.

The joint motion details that a subpoena is necessary in order to gain access to the missing information. „Certain insiders are currently cooperating with the debtors to provide important information. But others are not, and thus authorization to issue subpoenas to those with the missing information is critical to the debtors‘ and committee’s recovery efforts,“ the document states.

This request by FTX and the creditors committee comes after a political action committee called Mind the Gap had previously called for an investigation into Bankman-Fried and his family’s financial activities. The FTX bankruptcy case is ongoing, and it remains to be seen whether or not the lawyers will be granted permission to question the individuals associated with Bankman-Fried.

• Bitcoin raced to a fresh multi-week high on Wednesday, ahead of Thursday’s US inflation rate report.
• Ethereum also rose marginally higher in the day.
• Bitcoin and Ethereum need to break out of key resistance levels to move closer to their respective ceilings.

The cryptocurrency market saw a surge of activity on Wednesday as Bitcoin (BTC) and Ethereum (ETH) both saw significant gains. Bitcoin raced to a fresh three-week high, with prices hitting $17,493.32 earlier in the day. This surge came as markets turned their attention to tomorrow’s US inflation rate report, which is expected to show that consumer prices have fallen to 6.5%, down from 7.1% the month prior.

Ethereum also saw a small increase, with prices hovering around the $1,350 resistance point. ETH/USD hit a high of $1,342.76 earlier in the day, less than 24 hours after trading at a low of $1,324.97. Despite the slight uptick, Ethereum remains below the $1,350 resistance point, with many expecting prices to move after the release of US inflation figures tomorrow.

Looking at the technical analysis, Bitcoin’s price surge came as the 14-day relative strength index (RSI) broke out of a resistance point at the 60.00 mark. Currently, the index is tracking at 63.80. This comes as BTC continues to hover around its own ceiling at the $17,400 mark. In order to move closer to the $18,000 zone, the RSI will first need to move beyond a ceiling of 64.00 on the RSI.

For Ethereum, the consolidation below the $1,350 price ceiling comes as the RSI continues to trade under a hurdle of its own. Price strength is now tracking at the 68.73 level, which is under a point of resistance at the 70.00 mark. ETH bulls are now waiting to see if the RSI can break out of this resistance point.

Overall, the cryptocurrency market is now eagerly awaiting Thursday’s US inflation report, which is expected to provide some clarity on the future of Bitcoin and Ethereum prices. If the report shows a decrease in consumer prices, it’s likely that both BTC and ETH will see further gains. However, if inflation rises, it’s likely that both currencies will see a drop in prices.

• OVER Map2Earn Beta program is now available, offering revolutionary 3D mapping with 20 cm accuracy outdoors and indoors.
• It is a decentralized infrastructure for the AR metaverse, allowing immersive experiences to be increasingly perfect.
• Map2Earn users can become owners of NFT by generating three main assets while they are capturing footage for each OVRLand.

OVER has recently launched an exciting new project: the Map2Earn Beta program. Map2Earn is a revolutionary 3D mapping technology that offers accuracy of 20 cm for both outdoors and indoors, compared to GPS which only offers accuracy of 6 meters outdoors. This innovation is set to solve the geo-location problem in Augmented Reality (AR).

Map2Earn is part of OVER’s decentralized infrastructure for the AR metaverse, and its goal is to offer the ideal system for mapping and creating geo-localized experiences integrated into the real world. This includes the placement of digital artworks on specific anchor points on walls and the overlaying of AR experiences on existing buildings. It also offers the geo-localization of assets within a building by recognizing different floors.

What’s more, OVER has designed Map2Earn to be as open and accessible as possible. All it takes to access the metaverse is a smartphone. And with Map2Earn, users can become owners of non-fungible tokens (NFTs) by generating three main assets while they are capturing footage for each OVRLand. These assets are a 3D point cloud of the location which provides the creator with an accurate visual reference of the actual 3D structure of the location; relocation algorithms with an accuracy of 20 cm; and 3D models of the location, which allow for more realistic and immersive experiences.

OVER’s Map2Earn Beta program is set to revolutionize the AR metaverse, allowing for more accurate and immersive experiences. It is an exciting opportunity for users to become owners of NFTs and to explore an ever-growing AR world.

• Three Gemini Earn users have filed a demand for class arbitration against Genesis Global Capital, its parent the Digital Currency Group, and Genesis Global Trading.
• The claimants allege that GGC breached the terms of the Master Agreement by becoming insolvent in the summer of 2022 but concealing it from lenders and orchestrating a sham transaction in which DCG acquired the right to collect a $2.3 billion debt for a promissory note of $1.1 billion due in 2033.
• The claimants also assert that all transactions constituted unregistered sales of securities and must be rescinded.

Three Gemini Earn users recently filed a demand for class arbitration against Genesis Global Capital (GGC), its parent the Digital Currency Group (DCG), and Genesis Global Trading, alleging breach of contract and unregistered sales of securities. The case was filed with the American Arbitration Association (AAA) and is being represented by Silver Golub & Teitell.

According to the claimants, GGC’s breach of contract began when it became insolvent in the summer of 2022 but concealed its insolvency from lenders. The claimants allege that GGC was able to do this by orchestrating a sham transaction in which DCG acquired the right to collect a $2.3 billion debt owed to GGC by insolvent hedge fund Three Arrows Capital for a promissory note of $1.1 billion due in 2033.

The claimants assert that GGC’s refusal to acknowledge or fix the insolvency amounted to a breach of contract and triggered GGC’s obligation to return claimants’ digital assets. In addition, the claimants allege that all of the transactions constituted unregistered sales of securities and must be rescinded.

The law firm representing the claimants said that GGC’s actions were “unlawful and unfair,” and that the claimants are seeking “full rescission of their transactions, all damages suffered as a result of their transactions, and punitive damages.”

The case will be heard by the AAA’s Financial Industry Regulatory Authority (FINRA), a private corporation that serves as a self-regulatory body for the securities industry. The case is expected to have significant implications for the digital currency industry, as it could potentially set a precedent regarding the legal and regulatory status of digital currency transactions.

The claimants are seeking a resolution that will provide “full rescission of their transactions, all damages suffered as a result of their transactions, and punitive damages,” according to the law firm. The outcome of the case could have significant implications for the digital currency industry, as it could potentially set a precedent regarding the legal and regulatory status of digital currency transactions.

It remains to be seen how the case will unfold and what the final outcome will be, but it is clear that the claimants are seeking to send a strong message that any breach of contract or unregistered sale of securities must not be tolerated. The stakes are high for both sides, and the outcomes of the case could have far-reaching implications for the industry.