Bitcoin News and Finance: What You Need to Know

A high-ranking representative of the Ministry of Finance in Moscow sees no point in banning crypto mining in Russian households as it would be hard to restrict the activity. The top official also revealed that the department is currently finalizing regulations for the mining sector as part of efforts to legalize Russia’s crypto space. Russia Prepares to Legalize Cryptocurrency Mining Trying to prohibit at-home crypto mining makes no sense as it would be difficult to impose such a ban, according to Alexey Yakovlev, deputy director of the Financial Policy Department at the Ministry of Finance of Russia. He made the statement at a round table discussion devoted to the legalization and regulation of the industry. The ministry is now finalizing new provisions that would bring this crypto-related activity into the legal field, Yakovlev announced during a video conference call, quoted by the crypto news outlet Forklog. Russian authorities intend to put an emphasis on ensuring that activi

A recent poll conducted by NBC News indicates that one in five Americans has used cryptocurrencies by either investing or trading digital assets. The findings suggest that crypto assets continue to become more popular as 21% of the 1,000 participants surveyed have “dabbled” in crypto assets. Survey Says 1 in 5 Americans Has Used Crypto Assets in Some Capacity Digital currencies have seen significant growth during the last year as the crypto economy is currently valued at $2.2 trillion at the time of writing. According to an NBC News poll , one in five American residents hass used cryptocurrencies in some fashion, and the popularity among men was significant. Male participants held the largest share of all the demographics surveyed as 50% of men between the ages of 18 and 49 said they have either invested in or traded crypto assets. The polled participants had different views about cryptocurrencies and the industry, and 56% of the surveyed individuals explained they were neutral or

The head of Defiance ETFs says she is “completely bullish on bitcoin.” Noting that it is a “good time” to get into the cryptocurrency, she explained why she believes the price of bitcoin will reach $100K. CEO of Defiance ETFs Bullish on Bitcoin Sylvia Jablonski, chief executive officer, chief investment officer, and co-founder of Defiance ETFs, explained her bullishness on bitcoin despite recent price declines in an interview with CNBC Thursday. Defiance ETFs is an exchange-traded funds (ETFs) sponsor and registered investment advisor focused on thematic investing. Jablonski told the media outlet: I remain completely bullish on bitcoin. I think the short-term activity is just noise. She noted: “It looks as though, in terms of what we’ve seen for the last six months to a year or so, is that bitcoin is correlated with risk assets and equities specifically.” The executive explained that when investors see the crypto market rallying for a couple of days, they pile back into bitco

Tesla CEO Elon Musk has shared a dogecoin video on Twitter in a conversation about bitcoin mining on April 1. He says, “this video explains everything.” Elon Musk Shares Dogecoin Video Tesla and Spacex CEO Elon Musk shared a video about the meme cryptocurrency dogecoin (DOGE) on April 1 in reply to a tweet about bitcoin by Brett Winton, Ark Invest’s director of research. In the tweet, Winton quoted a conversation about bitcoin mining where he seems to be having difficulty explaining to his mom on April Fools’ Day that bitcoin miners are computers. Replying with a meme video titled “Ð is for Ðogecoin” on the same day, Musk wrote: “Just show her this video explains everything.” The short video features the DOGE mascot on a journey to the moon. The shiba inu on a rocket passed bitcoin and other major cryptocurrencies as the price of DOGE soared. Winton replied to Musk: “A meme too far for her I’m afraid. (On the other hand, my 5-year-old is now frantically agitating to set up a Coi

Shiba Inu, the meme-coin project that mimicked dogecoin, has announced it is launching its own take on the metaverse. The project, called “Shib: The Metaverse,” will introduce more than 100K plots of land to be unlocked at different times. The Shiba Inu team also announced the prices of the plots, which depend on their location, detailing that they will be sold for ether instead of the metaverse’s native token. Shiba Inu to Launch Puppy Metaverse Shiba Inu, one of the meme-tokens launched mimicking the idea of dogecoin, the first meme-coin, has now announced the development of its own metaverse initiative. The project, which is called “Shib: The Metaverse,” will have direct integration with Shiboshis, a series of NFTs the project issued before. The team specified that this project would be developed by a yet-unnamed third-party game studio. According to an announcement issued by the project team: Shib : The Metaverse is the culmination of our history as a community, virtually d

A study undertaken by two assistant professors at American University in Cairo (AUC) has suggested that an increase of 10% in the crypto market cap causes the market value of “African micro-entities” to drop by 0.76%. Crypto Market Growth Hurts Less Competitive Sectors According to the findings of a study undertaken by Mina Sami and Wael Abdallah, each time the cryptocurrency market cap grows by 10%, there is a corresponding 0.76% drop in the market value of African micro-entities. The study findings also suggested that firms in less competitive sectors are “more likely to get hurt by the cryptocurrency market’s expansion.” For instance, the two authors conclude in their report that the cryptocurrency market has “a considerable effect on Africa’s energy, financial, industrial, and consumer services sectors.” In contrast, the real estate and the information technology sectors are less affected by the growth of the crypto market, the authors said. Meanwhile, the authors claimed tha

With sanctions cutting off Russia from global finances, Moscow’s motivation to establish a domestic market infrastructure for digital assets grows, a top official at the Russian finance ministry has noted. The comment comes as Russians are losing access to foreign crypto platforms. Russia Recognizes Need for Local Crypto Assets Market Amid expanding international sanctions over the invasion of Ukraine, Russia has been turning its attention to cryptocurrencies while concerns in the West are growing that the country may use them to circumvent financial restrictions. The penalties have also affected the crypto space, and Russians are finding it harder to cash out their digital holdings. The incentives to build the Russian infrastructure for the cryptocurrency market have increased, as sanctions have led to restrictions for Russian nationals on foreign exchanges. The remark was made by Ivan Chebeskov, director of the Financial Policy Department of the Ministry of Finance, during the I