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Bank of Russia is considering to issue its own cryptocurrency

The head of the Central Bank of Russia, Elvira Nabiullina, confirmed that they are considering to issue Central Bank-backed cryptocurrency. However, the central bank’s head confirmed that they would oppose the issuance and circulation of any private currency as it could damage monetary policy and threaten financial stability.

The head of the Central Bank of Russia, Elvira Nabiullina, while speaking in Duma, confirmed that they are actively studying how various digital currencies pilots are working in other countries. However, the central bank stands against the issuance of private cryptocurrencies.

A statement put out by the country’s central bank read that issuing private currencies could damage the monetary policy and threaten the financial stability of the country. However, the Central Bank’s head confirmed that they are considering to issue a state-backed cryptocurrency.

Russia is a key player in the crypto industry.

Recently, when Binance CEO Changpeng Zhao visited Russia for the first time, he said that Russian Vladimir Putin would have the most influential role in the near future of the crypto industry. He was referring to a crypto bill that is pending in the Russian parliament. However, the Central Bank of Russia has no plans of legalizing the use of cryptocurrencies any time soon.

China is expected to launch its Central Bank-backed digital currency any time soon. As reported earlier, Turkey has also joined the list of countries that are planning to issue CBDCs.

CBDC: Governments’ weapon to fight bitcoin?

Many countries are studying stablecoins and planning to launch their state-backed cryptocurrencies. A CBDC is a perfect way for countries like China and Russia to keep track of people’s financial activities as they are completely centralized. On the other hand, bitcoin provides people with financial privacy that does not settle well with countries who like mass surveillance. It is expected that in several countries around the world would issue their own cryptocurrencies in coming years to keep people off from decentralized currencies like bitcoin

Disclaimer: Coinnounce’s views are not necessarily reflected in the articles published, and they are the sole representation of the author’s opinions. Article’s information should not be taken as investment advice. Risks are involved in cryptocurrency investments and trading. Readers are urged to carry out extensive research before making a decision.

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John McAfee Praises Privacy Crypto, Reveals the Secret of Technical Progress

Bears Continue To Gain Momentum In Bitcoin – Are We About To Collapse?

The antivirus guru and a prominent crypto bull John McAfee has not been tweeting about cryptocurrencies for a while busy talking to his followers about the permanent faults of the US government and the taxation system.

However, a few hours ago, he resumed his perpetual discussion of virtues that cryptocurrencies – privacy coins in particular – have.

‘Criminals are using privacy coins. Thank God!’

In a recent tweet, John McAfee praises privacy coins or rather he praises criminals for being the first to adopt all valuable technical novelties – automobiles, the telephone and now they are welcoming privacy coin

s.

McAfee tweets:

“Authorities are always behind. Now, they [criminals] have validated the power of privacy. Thank God!”

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TradeStation Crypto Gets Approval for US Expansion

Crypto brokerage firm, TradeStation Crypto now covers more states in the United States.

TradeStation Crypto, a cryptocurrency brokerage firm announced the expansion of its services to two new states in the United States.

According to reports, TradeStation Crypto expansion to South Dakota, and Alaska increases the grand total to nineteen different states within the United States.

Therefore, the residents of South Dakota and Alaska now get the opportunity to apply for an account to trade cryptocurrencies.

Quoting the official post: “TradeStation Crypto, a subsidiary of TradeStation Group, Inc., is pleased to announce that residents of South Dakota and Alaska may now apply for a TradeStation Crypto account to trade cryptocurrencies.”

Besides, cryptocurrencies like traders in Bitcoin (BTC), Bitcoin Cash (BCH), Ethereum (ETH). As well as, Litecoin (LTC), and XRP becomes available for interested traders. Also, the brokerage firm revealed plans to add more cryptocurrencies to the platform in the future.

James Putra, Director of Product Strategy at TradeStation Crypto commented on the development.

He said: “We’re excited that traders in South Dakota, Alaska and our long list of other states now get another way to participate in the cryptocurrency markets through a trusted and familiar brand.”

Other benefits

Notably, the platform claims they’re the first crypto offering that uses an online brokerage model that self-directed traders expect for other asset classes. Instead of being a crypto exchange, the platform reportedly aggregates multiple pools of liquidity in a consolidated market data feed combined with an intelligent order-routing system. Therefore, giving customers better visibility and trade execution.

Further emphasizing their progress, James Putra said: “Last month we announced our crypto offering availability for traders across Illinois. As well as, Rhode Island, Washington, and Wisconsin.”

About TradeStation Crypto

The platform is a subsidiary of TradeStation Group, Inc. commenced operations last year. According to reports, the US-based firm offers cryptocurrency brokerage services for self-directed online traders.

Last month, TradeStation Crypto announced its expansion to four new US states. They include Washington, Rhode Island, Wisconsin, and Illinois.

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Crypto Today: Bitcoin and its peers are subject to a reversal

Here’s what you need to know on Friday

Markets

BTC/USD is currently trading at $9716 (+1.50%), remaining at risk underneath the $10,000 price mark. 

ETH/USD is currently trading at $266 (+4.50%), critical support at $250-40 remains intact, as part of the double top, the neckline area. 

XRP/USD is currently trading at $0.2760 (+2.50%), vulnerabilities remain underneath $0.3000. 

Among the 100 most important cryptocurrencies, the best of the day are ALGO $0.45345 (+22.55%), LRC $0.047042 (+17.49%) AION $0.134455 (+13.75%) The day’s losers are MANA $0.055078 (-11.42%), ABBC $0.118961 (-9.30%), LSK $1.53 (-5.25%).

Chart of the day: BCH/USD weekly chart (Evening star formation proving to be problematic) 

Market

IOTA is continuing to release new information in response to a Feb.12 hack on its official wallet. 

According to a status update, the IOTA Foundation strongly recommends users of the Trinity Wallet to immediately change their passwords and use the seed migration tool to protect their assets. Trinity users who opened or updated their wallets between December 17th, 2019 and February 18th, 2020 may be vulnerable.

The Cardano (ADA) distributed ledger technology (DLT) project has successfully carried out the Ouroboros Byzantine Fault Tolerance (OBFT) hard fork, a huge milestone that lays a solid foundation for the launch of Shelley, according to a tweet on February 20, 2020.

Regulation

The Malta Financial Services Authority (MFSA) claims that it has never approved major cryptocurrency exchange Binance to operate in the country. The MFSA issued a public statement, stating that Binance “is not authorized by the MFSA to operate in the cryptocurrency sphere.” The agency outlined that recent media reports referred to Binance incorrectly as a “Malta-based cryptocurrency firm,” while the exchange “may not fall within the realm of regulatory oversight.”

Belgium’s Financial Services and Markets Authority (FSMA) has updated its blacklist of cryptocurrency-related websites associated with fraudulent activity. The FSMA made the update following a number of complaints from Belgium-based users who dealt with fraudulent offers of investment in digital currencies, according to a Feb. 21 announcement. After the latest revision, the FSMA’s list now includes a total of 141 websites offering cryptocurrency-related services.

The Organization for Security and Cooperation in Europe (OSCE) conducted a training course on combating dark web-facilitated crime. Law enforcement representatives from Central Asian countries were taught how the darkweb and cryptocurrencies function, in order to better combat drug-related crime.

Industry 

Fidelity International has invested $14 million in Hong Kong-listed digital asset firm BC Group. The funding form the arm of US asset manager Fidelity Investments, which claims to have 23 million retail accounts, is part of a $36 million round that the public technology startup raised earlier this month in a share placement.

Quote of the day

Bitcoin is actually digital real estate, but i don’t have time to try to convince you, sorry

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