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Fred Cole

An editor at FOMOdrive

  • Jul 05, 2023
  • 3 min read

The Ministry of Finance of the Russian Federation proposed to ban the circulation of cryptocurrencies in Russia

Bitcoin coins with ban sign

A spot Bitcoin ETF has been launched by BlackRock, with the application having been updated for this purpose.

Mastercard has advocated for the combination of blockchain technology and traditional finance.

Spot trading volumes for cryptocurrencies have dropped to the levels seen at the end of 2020.

The stock of Bitcoin Depot, a crypto ATM operator, rose 12% on its debut day of trading.

The Nasdaq has revised its listing for BlackRock's bitcoin ETF to include Coinbase as a shared market surveillance partner. This follows the SEC's determination last week that the initial filings from Invesco, VanEck, 21Shares, WisdomTree and Fidelity were not "clear and comprehensive," prompting the firms to submit revised documents.

Mastercard has advocated for the combination of blockchain and traditional finance, which could help to promote the widespread use of distributed ledger technology and eliminate the mistrust that exists in the industry.

The NASDAQ saw a surge in the stocks of cryptocurrency companies on its first day of trading, with Bitcoin Depot, the world's largest crypto ATM operator, rising by almost 12%. Coinbase shares increased by 12%, while MicroStrategy experienced a 10% jump.

According to Kaiko, spot cryptocurrency trading volumes dropped to late-2020 levels in the second quarter of 2023. The biggest decline was seen on the Binance platform, with trading volumes falling by almost 70%.

South Korean crypto-exchanges have formed an alliance to introduce a system for monitoring market volatility. This alert system was created to safeguard users by eliminating any discrepancies and disparities in the data received from the exchanges.

The Luminex Ordinals platform team has unveiled the BRC-69 standard, which makes it easier and more cost-effective to issue NFT collections of recursive inscriptions on the bitcoin blockchain. The developers claim that BRC-69 can reduce the cost of releasing collections by over 90%.

The recent incident with the Poly Network platform, which allowed hackers to issue $42 billion worth of tokens, has prompted the developer of the DeFi project Fluid Protocol to announce a new standard, ERC 7265. This standard offers an automatic stop of a smart contract when the outflow of funds exceeds a set threshold.

Under the pseudonym Ratoshi, the developer of indie games has released an online music generator in the form of a bitcoin-NFT on the Ordinals protocol. By simply entering a word or phrase, any user can create a track. ChatGPT, a chat bot with artificial intelligence, was used to generate the melodies.

The Ministry of Finance of the Russian Federation proposed to ban the organization of the circulation of cryptocurrencies, with the exception of stablecoins and the sale of coins by miners. However, the FSB and the Investigative Committee opposed this initiative, arguing that these changes would effectively introduce a ban on organizing the circulation of digital currency in general, without providing "concrete arguments". Amendments to the bill regulating mining will be made in light of this opposition.

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