Golden Outpost | Russian lawmakers draft amendments to legalize contracts for cryptocurrency payments

The Duma, the lower house of Russia's parliament, is stepping up efforts to remove obstacles to the use of cryptocurrencies in contract payments. The proposals are under constant scrutiny, but according to Pavel Krasheninnikov, chairman of the Legislative Council, consensus has been reached on the issue.

Golden Morning News | January 31 Overnight Important Updates: 21:00-7:00 Keywords: CME, CFTC, U.S. House of Representatives, Switzerland

1. CME executives: CME Bitcoin futures trading volume has exceeded 100 billion US dollars;

2. The chairman of the CFTC expects that Ethereum futures will be launched soon;

3. Cambodia will launch a central bank digital currency payment system;

4. The Swiss town of Zermatt accepts BTC for tax payment;

5. Mercedes-Benz will use blockchain to track carbon emissions in the cobalt supply chain;

6. U.S. Congressman: The payment system architecture needs to be changed, and tokens are a good way;

7. The FCAS score of Ethereum Classic reached a new high, jumping to the 4th place;

8. U.S. House of Representatives: Criticism of digital payment innovation may stifle its progress;

9. V God: The correct term for DeFi should be the position of collateralized debt obligations. [2020/1/31]

Krasheninnikov noted that although cryptocurrencies are not legal tender in Russia, the authors of the amendment believe that they can be used for payments within the framework of contract law.

Analysis | Gold Disk: CVC/USDT Abnormal Fluctuations: Gold Disk analysts said: CVC/USDT has been extremely active-zce in recent days, with an amplitude of more than 100% on the 5th, but it has shrunk in terms of trading volume, which is most likely for self-entertainment. [2018/8/6]

Members of the Duma State University are currently working on amendments to allow the use of cryptocurrencies as payment methods for contracts. According to Russian law, digital financial assets are considered property and their alteration will legalize encrypted payments between contracting parties.

Jinse Finance live report, Bob: Blockchain solves the problem of difficult financing for European start-ups: At the 2018 World Digital Asset Summit (WDAS) and FBG Annual Conference, the conference invited enterprise projects from all over Europe to come and focus on blockchain The current situation in Europe is explored. Bob from FBG Capital said that although Berlin had a large number of talents, it was difficult for start-ups to grow bigger and stronger. To solve this problem, financing through tokens solves the financing problems encountered by start-ups in Berlin and Europe. [2018/5/3]

As early as 2014, Russia banned the use of Bitcoin in Russia. Gradually, Russia has become more and more open to cryptocurrencies. On January 1 this year, Russia regulated cryptocurrencies through the Law on Digital Financial Assets and Digital Currencies that came into force. The law classifies cryptocurrencies such as bitcoin as property and prohibits their use to pay for goods and services. The ruble remains the sole legal tender of the Russian Federation. In February, the State Duma introduced another bill to formally recognize the property status of cryptocurrencies such as Bitcoin.

In addition, Russia's largest state-owned commercial bank Sberbank (Sberbank) has applied for a blockchain network for the bank's cryptocurrency Sbercoin, which has been approved by the Central Bank of Russia and may begin trials in 2021.

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