Bitcoin News and Finance: What You Need to Know

The crypto-friendly nation of Belarus is preparing to permit investment funds to put money into digital currencies. A proposal to do so is part of a package of necessary legal changes tailored to attract such institutions to the country. Finance Ministry Takes Steps to Facilitate Crypto Investments in Belarus Amendments aimed at luring investment funds to Belarus have been published by the Ministry of Finance for public consultations. Despite having in place a regulatory framework for collective investments, not a single fund has been registered in the country so far, the department noted in its motives for the initiative. One of the main reasons for the absence of such funds is that they are currently prevented from investing in crypto assets, representatives of professional circles have pointed out. The market for “digital signs (tokens),” the legal term used to describe cryptocurrencies, has been growing at a fast pace, the finance ministry has acknowledged. To lift the restri...

Real estate sales in the metaverse are expected to reach a billion dollars this year, according to a metaverse analytics firm. The company expects real estate sales on four major metaverse platforms, which surpassed $501 million last year, to double this year. $1 Billion Metaverse Real Estate Sales Expected This Year Real estate sales on metaverse platforms surpassed half a million dollars last year, according to metaverse analytics firm Metametric Solutions. The company added that real estate sales on four major metaverse platforms — Sandbox, Decentraland, Cryptovoxels, and Somnium — reached $501 million in 2021. The four platforms have a total of 268,645 parcels of varying sizes on them. The analytics company has projected that real estate sales in the metaverse could double this year, reaching nearly $1 billion in 2022. The metaverse real estate market is expected to grow at a compound annual rate of 31% from 2022 to 2028, according to a report from Brandessence Market Researc...

U.S. Senator Pat Toomey says that crypto assets are here to stay and “a thoroughly diversified portfolio should have some.” The lawmaker added that he has a “very simple” investing strategy — diversify. US Lawmaker Says Crypto Is Here to Stay U.S. Senator Pat Toomey talked about cryptocurrency on CNBC Wednesday. The senator was asked whether he was actively trading cryptocurrency. While admitting that crypto assets are part of his diversified investment portfolio, he clarified that “Actively trading would be a huge exaggeration.” The senator from Pennsylvania explained: Ever since I could accumulate any savings, I had a very simple strategy — diversify. He described that he is taking this strategy because he has been “doing other things rather than evaluating companies and picking stocks.” Senator Toomey opined: It seems to me that crypto assets are here to stay and a thoroughly diversified portfolio should have some. In June last year, Toomey disclosed that he had invest...

The Federal Reserve Bank of Boston and the Massachusetts Institute of Technology (MIT) have jointly published the initial findings of their central bank digital currency (CBDC) research. They also published the open-source code for the CBDC project. Boston Fed and MIT Publish Initial Findings of Their CBDC Research The Federal Reserve Bank of Boston and the Digital Currency Initiative at the Massachusetts Institute of Technology (MIT) released the initial findings of their central bank digital currency (CBDC) research on Thursday. This research is separate from the digital dollar research conducted by the Federal Reserve Board. The Federal Reserve also recently published its long-awaited CBDC report. The collaboration between the Boston Fed and MIT, known as Project Hamilton, “focuses on technological experimentation and does not aim to create a usable CBDC for the United States,” they explained. The initiative was announced in 2020. Boston Fed Executive Vice President and Interi...

Platforms listing ads for mining hardware have been registering declining demand since Bank of Russia’s call for a ban on the minting of digital currencies among other crypto activities. While mining may eventually be legalized, miners can expect to pay higher electricity bills. Supply Exceeds Demand on Russian Market for Mining Chips Mining hardware is now more often offered than sought, Russian online marketplaces have noticed. The trend began after the Central Bank of Russia (CBR) published a consultation paper this month, in which the regulator proposed a blanket ban on operations with cryptocurrencies, including mining, citing threats to financial stability and risks for investors. A major online platform has recently told the business news portal RBC that the number of ads for the sale of coin minting equipment has increased in January while demand decreased. A drop in the purchases of video cards was also registered by Marvel Distribution, one of Russia’s leading retailers...

The Central Bank of Ecuador is planning to issue cryptocurrency-specific regulation later this year. According to statements from Guillermo Avellan, the manager of the Central Bank of Ecuador, this will bring more clarity to the cryptocurrency scene in the country, and will contribute to preventing crimes such as money laundering. Central Bank of Ecuador Has Eyes Set on Crypto The Central Bank of Ecuador is planning to prepare and issue cryptocurrency-related regulations this year. The announcement was made by Guillermo Avellan, manager of the Central Bank in an interview on January 30th. When asked about the state of the cryptocurrency regulation of the country and how it seems to be lagging as compared to other countries in the region, Avellan stated: The Central Bank is working on a project to regulate cryptocurrencies, bearing in mind that the Monetary Code establishes that the dollar is the only legal tender in the country. Avellan further explained that the new regulation...