Russia Confirms First Capital Filling That Includes BTC + More News

Disclosure: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. By using this website, you agree to our terms and conditions. We may utilise affiliate links within our content, and receive commission.

Crypto Briefs is your daily, bite-sized digest of cryptocurrency and blockchain-related news – investigating the stories flying under the radar of today’s crypto news.

Source: iStock/btgbtg

Regulation news

  • Russian tax authorities have recognized a capital filing that included a Bitcoin (BTC) investment – the country’s first ever. Per media outlet Bloomchain, the investment was relatively modest – a mere BTC 0.1 – but proved difficult to clear. Authorities initially refused to recognize the filing, but eventually gave way on the second time of asking. The media outlet claims that the company in question was a listed entity named Artel, and the filings reveal that the Bitcoin investor was rewarded with a 5% stake in the firm’s shares.
  • The Venezuelan government says citizens may use the state-issued Petro cryptocurrency in their accounting records and calculations. According to El Universal, Caracas issued a statement instructing ordinary citizens, as well as legal, public and private entities to keep financial records using “sovereign crypto-actives,” namely the Petro, without converting figures to the country’s troubled national fiat, the bolivar.
  • Blockchain and cryptocurrency industry representatives have joined the Korean Blockchain Association in issuing positive reactions after South Korea’s parliament approved the country’s first piece of cryptocurrency-specific legislation last week. Per Fn Today and Asia Times, industry insiders say they are “relieved” that guidelines for real-name transactions at exchanges are now in place. However, some appear to fear that the guidelines may be too difficult for smaller exchanges to adhere to – possibly forcing them out of business.

Adoption news

  • South Korean dentists are keen to begin using blockchain technology. Per Weihak Shinmun, the Korean Dental Association will meet on December 15 to discuss blockchain adoption strategies. The association’s chiefs say they are hoping to convince the country’s dentists of the value of using blockchain technology, and explore commercialization strategies. A number of leading hospitals and domestic blockchain companies have already begun to pioneeer blockchain-powered dentistry solutions. (Learn more: Is Blockchain-powered Medicine Just What the Doctor Ordered?)
  • An open-minded approach and an in-depth understanding of innovations currently spreading through the financial sector are critical for central banks and their capacity to adapt the performance of the different roles they play to fulfill their financial stability mandate, the Banque de France’s first deputy governor Denis Beau said at the AFME Annual Capital Markets Technology and Innovation Conference last week. He also stressed that the bank is open for experiments “in particular with regard to a wholesale Central Bank Digital Currency.”

Exchanges news

  • Yet more South Korean cryptocurrency exchanges are looking to branch out with international operations. The latest is Foblegate, which has finalized an MOU deal with Singapore-based exchange RuiBTC. Per Updownnews, the move is Foblegate first step in a wider global expansion plan. The likes of Coinone, Upbit, Bithumb, Bitstamp and more have also been taking steps to promote overseas expansion in recent months.
  • CX Technologies Ltd., the Israeli company behind the cryptocurrency exchange DX.Exchange is going through bankruptcy proceedings after 78 of its former and present employees petitioned an Israeli court to wind it up, according to The Times of Israel. As reported, the exchange has been “temporarily” closed in November as they “pursue a merger or outright sell of the company.” DX.Exchange CEO Daniel Skowronski told today that their “lawyers are taking their time” ant the company still hopes to close the deal this month. The CEO did not comment on the report by The Times of Israel.
  • A former executive at StyleHaul Inc., a digital marketing company that represents “influencers” on Instagram and YouTube, pleaded guilty today to federal criminal charges for embezzling more than USD 22 million from his employer and then using the stolen money for personal expenses and crypto-currency gambling, the U.S. Department of Justice announced.