Russia Gets Tougher On Crypto

The Russian government posted an updated version of its proposed law regulating digital assets this week, adding more restrictions to the industry. The law would prohibit the circulation of all cryptocurrencies, as well as their mining and advertising, though simply owning it will not necessarily be a crime. Some Russian crypto enthusiasts are hopeful that there is still room for interpretation in the law to allow for regulated security token offerings in the future.

JPMorgan has come a long way since CEO Jamie Dimon called bitcoin a “fraud” in 2017. A new book set to be released in January 2021, Kings of Crypto, reveals that Dimon has been holding secret meetings with Coinbase CEO Brian Armstrong since 2018. The Wall Street Journal reported in May that JPMorgan is offering its services to Coinbase and rival exchange Gemini, and America’s biggest bank launched its own stablecoin last year.

Plus, startups like BitTorrent, Audius and VideoCoin are already using blockchain to help entertainers distribute content and live-stream events. Here’s how blockchain can supercharge the burgeoning streaming economy on a larger scale.

Blockchain forensics firm CipherTrace revealed that there was an uptick in crypto thefts in the first five months of 2020 in its spring anti-money laundering report, though coronavirus-related frauds offering fake PPE products to lure victims were “not the main cause.” Most of the money stolen can be traced to one WoToken Ponzi schemer who defrauded more than 715,000 people of about $1 billion worth of crypto at current prices.

Bitcoin’s Short-Lived Spike; Russia Gets Tougher On Crypto, Forbes, Jun 8