JPMorgan Chase & Co has teamed up with Singapore-based DBS Bank Ltd and digital markets infrastructure operator Marketnode to do this. The project will explore the possibility of asset tokenization and DeFi using open interoperable networks.
The Russian Ministry of Finance completed an edited version of the bill on the regulation of relations on the Cryptocurrency market.
What happened? Terra 2.0 Blockchain was launched on May 28, with the issue of new LUNA Tokens and the listing of the asset on the Bybit, KuCoin, Gate.io and Huobi Crypto exchanges. The initial price on Bybit was $0.5. LUNA peaked at $30 (+6000%) shortly after the network’s launch, but then began to drop precipitously and by Monday, May 30, it was down to $5.97 per LUNA.
Bitcoin begins a new week with strengthening positions. During the Asian session on May 30, the exchange rate of BTC rose to $30,600. The capitalization of the largest digital currency increased by 5.5% to $583 billion.
Raoul Pal said on a YouTube podcast that Etherium, the leading smart contracts platform, could surpass Bitcoin in the long run. The macroeconomist agrees that Bitcoin is the best Crypto-asset and surpasses Ether in terms of market capitalization, trading volume and number of active wallets. However, according to Pala, over the past few years, Ether has already found a way to surpass Bitcoin:
What happened? In the first quarter of 2022, Kazakhstan’s budget increased by 652 million tenge ($1.52 million) thanks to companies Mining Cryptocurrencies in the country. The authorities introduced a fee for mining on January 1, 2022. It is calculated at a rate of 1 tenge ($0.002) per 1 kWh of electricity. The State Revenue Committee of the Ministry of Finance of Kazakhstan said that tax reporting for individuals engaged in Mining is not provided, said RBC.
The fall of the ruble, the collapse of the stock market and restrictions on foreign exchange transactions are forcing us to look for new approaches to asset management. Cryptocurrency, a digital currency, could be a solution both for those who interact with foreign counterparties and for those who simply want to diversify risks.
What happened? The Ministry of Finance of the Russian Federation finalized a new version of the draft law “On digital currencies”, which concerns the regulation of the Cryptocurrency market. The new version included comments from the Ministry of Economic Development, the Ministry of Internal Affairs, the Ministry of Finance, the Federal Tax Service, Rosfinmonitoring and the Center for National Projects of the Analytical Center under the Government. This version cannot be called final; additional changes may be made to it. Vedomosti reports this, citing an anonymous source.
According to analysts at investment bank JPMorgan, in the current cycle, the fair price of Bitcoin should be $38,000. That is, it should be about 38% higher than today’s values of the largest Cryptocurrency.
Bitcoin (BCT) has bottomed out and is ready to exit the bearish trend, says Yves Lamoureux, who correctly predicted global reversals in the Cryptocurrency market in 2021, 2020 and 2017