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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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US SEC Commission: Some Stablecoins May Be Recognized to Securities

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According to Valery Schepanik, senior consultant for digital assets of the United States Securities and Exchange Commission (SEC), the norms of securities legislation may apply to certain types of glasscoins . Reported Decrypt .

According to Shchepanik’s classification, one stablecoin can be tied to real assets like gold or real estate, the other to fiat currency, and the third to use various “financial mechanisms that support price stability.” It is the third category, in its opinion, that can become the object of close attention of the regulator.

“I came across steyblokinoy, the value of which controls a certain pricing mechanism associated with the emission, creation or redemption of another type of digital assets tied to them. Or, it is supported by control over the ratio of supply and demand in order to keep prices in a certain range , ”said the SEC representative.

According to her, if the central side controls the steakblock's price volatility, or if the buyer is promised a guaranteed income or a controlled price, such an asset can be recognized as a security.

She noted that the agency applies equally to all cryptocurrency projects. Shchepanik also emphasized that companies should contact the agency for consultation before the release of the token , and not after:

“We would prefer that people turn to us for permission or advice before they do something, rather than do something first, and then come to ask for forgiveness.”

Publication date 18.03.2019
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Japan will consolidate the rules for cryptocurrency in the category of "cryptographic assets"

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The Cabinet of Ministers of Japan proposed amendments to the laws “On Financial Instruments and Exchanges” and “On Financial Settlements”. Thus, it is planned to consolidate a number of norms regulating the market for digital assets.

The Law “On Financial Instruments and Exchanges” is aimed at ensuring the transparency of markets and the safety of investors. It contains clear requirements for operations with derivatives and securities.

Several points may be added to Japanese law.

So, it is proposed to make cryptocurrency in a separate category – “cryptographic assets”. This is consistent with the definition adopted by the G-20 countries. Companies that deal with their exchange will receive the status of "agents for the exchange of cryptographic assets."

Cryptocurrency exchanges may be required to keep clients' funds in cold wallets. If for these purposes it is necessary to use the infrastructure that is connected to the Internet, then the assets should be provided with their own funds of the exchange.

Margin trading of digital assets is proposed to regulate by analogy with the markets of foreign currencies.

"In addition, cryptocurrency companies can prohibit the use of promotional materials that encourage speculation and indulge in dishonest practices (price manipulation, insider trading, etc.)."

Publication date 18.03.2019
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Ledger Nano S Wallet Receives Certificate of the French Cyber Security Agency

Ledger Nano S was the first hardware cryptograph certified by the French Information Systems Security Agency (ANSSI). Ledger is proud to announce that it is a wallet! The obtained CSPN certificate shows a third-party assessment of security, rather than taking our word for it. Read more here: https://t.co/PYrRcFt15u#DontTrustVerify […]

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Ledger Nano S was the first hardware cryptograph certified by the French Information Systems Security Agency (ANSSI).

As noted in the company's blog, the process of obtaining the first level of a security certificate involves evaluating a product according to several criteria, including "firewall, identification, authentication and access, security of communications and embedded software."

“We are proud to announce that ANSSI has passed independent certification ,” said Ledger CEO Eric Larshevek. “ For Ledger, safety is paramount.”

He also promised that his company would make an effort to certify the rest of its products.

Recall, recently the French manufacturer of hardware wallets Ledger reported vulnerabilities from its competitor Trezor.

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