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Russia can earn huge capital on the cryptocurrency in case of rejection of the US dollar

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American experts believe that the Russian Central Bank can not only stabilize the course of Bitcoin , but also make good money on it.

In the publication on the pages of the publication Investment Week, the British financier, founder and general director of the Carlton James Group, Simon Calton, said that if the dollar is abandoned, Russia has prospects to make billions from cryptocurrencies.

Calton drew attention to the fact that in recent years the Russian regulator has been pursuing a policy aimed at reducing the dependence of the country's financial system on the US dollar. There is also talk that in the near future, Moscow may rely on cryptocurrencies .

Calton writes :

“The Central Bank of Russia managed to form a record high reserve of $ 462.1 billion. Accumulated funds can be an effective tool to protect the Russian economy from geopolitical risks. ”

The Russian Central Bank seeks to diversify reserves by acquiring gold and foreign currencies other than the US dollar. According to Calton, there is a high probability that Moscow can pay attention to cryptocurrencies, in particular, to Bitcoin.

Despite the decline in the price of Bitcoin in 2018 (its total value fell from $ 230.9 billion to $ 66.6 billion by the end of the year), if Russia risks investing in these assets, this can change the rules of the game. The British financier believes that the Russian Central Bank can not only stabilize the cryptocurrency rate, but also make good money on it:

"If Russia fulfills its investment plans, the Central Bank of the Russian Federation will receive one-sixth of all bitcoins, which ultimately will significantly increase the value of this digital asset."

Thus, Russia can earn billions on cryptocurrency investments. However, at the moment it is difficult to determine how much interest the Bank of Russia has in these assets.

At the same time, Simon Calton admits that today the leading world powers are cautious about investing in cryptocurrencies: they are scared away by the high volatility of these financial instruments, which are not tied to tangible assets that determine the base value of traditional currencies. In this regard, the course of Bitcoin is subject to sharp fluctuations.

However, Calton believes, the attitude to cryptocurrencies may change. The blockchain technology expands the horizons of classic financial technologies. But, as in the case of any investment or financial instrument, it is necessary to act very carefully and carefully.

Recall that earlier, Prime Minister Dmitry Medvedev explained that “dedollarization” does not mean a complete rejection of the dollar or a ban on the circulation of the American currency. The prime minister said that “a country should focus on its national currency.”

As for the prospects of cryptocurrency in Russia, they are clearly ambiguous. The steps made in this direction, and the statements of Russian lawmakers are evaluated by observers as halfway and ambiguous. For example, last year, the chairman of the State Duma’s Financial Market Committee, Anatoly Aksakov, said that cryptocurrency would allow investors to invest in the Crimea without fear of violating the prohibitions.

The economic integration of the region into the Russian Federation and the diplomatic consequences of its accession are costly. In addition to government subsidies, the autonomous republic needs fresh investment, but international sanctions have stood in the way of foreign capital. Commenting on the prospects for solving this problem using cryptocurrency, A. Aksakov said:

“Having this tool (cryptocurrency) in the future, when we get approval, we expect to be able to attract people who are afraid to invest in Crimea directly. They will be able to finance projects that promise good profits through an encrypted scheme. ”

Also, at present, Russia is working on creating cryptocurrency offshore zones – in Kaliningrad and in the Primorsky Territory in the Far East.

Another possible application cryptocurrency – trade from abroad. Last year, TASS quoted the words of the First Deputy Chairman of the State Duma Committee on Economic Policy, Industry, Innovative Development and Entrepreneurship, Vladimir Gutenyov, who said that the United States “crossed the red line” and Moscow should think about an “asymmetric response”.

Gutenev sees such a response in the use of cryptocurrency in Russian exports of military and civilian products, the trade in which is likely to affect more and more new US sanctions.

However, all of the above are only plans and opportunities, the realization of which is hampered by the absence in the country of a legal framework for cryptocurrency turnover.

Recall, recently it became known that in Russia they want to introduce a limit on the purchase of cryptoactive assets by the population. The Central Bank of the Russian Federation, in a draft directive to the draft law on digital financial assets (CFA), included a proposal to limit the possibilities for crypto assets to be purchased by unqualified investors.

It is expected that the Central Bank will set the maximum allowable amount per year, and the operators of the tokens issuing systems will exchange customer data to prevent the limit from being exceeded.

Publication date 17.03.2019
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OKEx is going to launch futures on Tron on May 20,

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OKEx Crypto Exchange announced the launch of futures contracts for Tron (TRX). A new financial product will appear on the trading platform already on May 20 at 10:00 Moscow time.

Justin Sun, CEO of the Tron Foundation, said that with the launch of the OKEx futures platform on the TRX, the number of transactions with a digital coin will reach 15 million per day. Note that on the eve of the network appeared information that the daily number of users of the platform of decentralized applications from Tron reached 100 thousand, exceeding the achievements of Ethereum and EOS.

The Tron project token currently occupies the 11th position in the cryptocurrency rating in terms of market capitalization. Recently, TRX was listed on the P2PB2B crypto exchange, and the number of smart contracts in the Tron-blockchain reached almost a thousand.

OKEx futures will be settled on a weekly, fortnightly, and quarterly basis. The maximum allowable shoulder size for this derivative is 20x. The new tool will combine data for the TRX / BTC pair, taking into account the performance of three crypto-exchanges – Binance, Huobi, OKEx.

TRX futures

By the way, this week the team Tron left Lucien Chen, technical director of the project. He explained his departure to the fact that TRX is no longer decentralized, now Chen is going to develop his own project, the Volume Network (VOL), which will strive to achieve the goals that were moved to the Tron Foundation.

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The Central Bank of Great Britain for the first time recognized the huge potential of Bitcoin

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For the first time, a representative of the Central Bank of Great Britain commented positively on cryptocurrency and Bitcoin , in particular.

For a long time, the British financial regulator spoke extremely negatively about Bitcoin and doubted its reliability as a form of capital preservation.

For example, at the end of April, the Deputy Head of the Office for Markets and Financial Affairs of the Central Bank of the Kingdom, Dave Ramsden, reaffirmed the negative attitude of the regulator to the cryptosphere.

However, this week, the chief economist of the British Central Bank Andrew Haldane, during his speech to the students for the first time, acknowledged not only reliability, but also the gigantic prospects of Bitcoin. In his opinion, the largest cryptocurrency will be able to completely replace cash in the next 20-30 years.

Haldane said that he was following the development of the cryptocurrency industry and was aware of the existence of thousands of coins. Nevertheless, despite the fact that for the first time one of the influential employees of the British Central Bank noted the growing value of Bitcoin, the position of the regulator’s management is unlikely to change anytime soon, analysts say.

But it is quite possible that, following the chief economist, many other senior officials of the Central Bank will reconsider their position, and this will create conditions for the British Bitcoin regulator to be fully recognized as a reliable payment instrument.

Publication date 19/05/2019
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OKEx Exchange will launch TRON

OKEx cryptocurrency exchange announced the launch of TRON (TRX) cryptocurrency futures. TRON (TRX) futures trading will be available from 08:00 May 20, 2019 (CET, UTC + 1). Details as follows: https: //t.co/344ykd3iGi – OKEx (@OKEx) 17 May 2019 p. The new financial instrument will be available for trading on Monday, May 20. The following are the specifications of the TRON futures: […]

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cryptocurrency futures

OKEx cryptocurrency exchange announced the launch of TRON (TRX) cryptocurrency futures.

The new financial instrument will be available for trading on Monday, May 20. The following are the TRON futures specifications:

Derivatives calculations will be made on a weekly, fortnightly and quarterly basis. The maximum possible shoulder size of this futures is 20x. The instrument will be based on data on the TRX / BTC currency pair from OKEx, Huobi and Binance exchanges.

OKEx also reported that more than 557 million OKB tokens were purchased and burned this week. Since the start of the program (May 4, 2019), more than 1 million native tokens of the exchange have been destroyed.

Recall the other day TRON support announced Opera browser.

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