Gate.io Blog Daily Flash | Russia relaxed its attitude towards digital assets；The Bitcoin reserve on the exchange is the lowest in four years

Daily Flash | Russia relaxed its attitude towards digital assets；The Bitcoin reserve on the exchange is the lowest in four years

22 April 12:18

Today's Topic - Russia considers relaxing its tough stance on digital assets

On Thursday, Elvira Nabiullina, governor of the Russian Central Bank, during the meeting announcing her re-election, said that the Russian central bank may have taken an overly tough position on digital assets and should reconsider this point.

"We need to look into whether this is too tight. We need to deregulate digital financial assets projects. Digital financial assets are expected to become another channel to attract funds," she said.

Nabiullina said that as part of the government's measures to deal with Western sanctions and maintain the economy, the Russian central bank is trying to make digital financial assets effective. She stressed that the crypto-related law "digital financial assets act" passed by Russia more than a year ago did not help the country obtain too many projects.

Nabiullina also stressed that compared with cryptocurrencies privately issued by no responsible party, the government should mainly encourage the development of digital asset projects issued by "project responsible party". Nabiullina also talked about CBDC at the meeting, saying that the Russian central bank is expected to carry out the first digital ruble settlement in 2023.

Earlier, it was reported that the government of the Russian Federation submitted to the parliament a draft law on the regulation of cryptocurrency tax, which stipulates that ordinary residents can buy up to $7000 of cryptocurrency every year.
In addition, the Russian Federal Tax Office proposed legislation to allow companies in the country to pay for import and export operations in cryptocurrency.

Today's Chart - The exchange's Bitcoin reserves reached their lowest level in more than four years

On April 21, the price of Bitcoin broke through the critical level of $42000. After briefly testing the support below the $40000 level a few days ago, Bitcoin continued to gradually climb above the resistance level.

The amount of funds flowing out and into cryptocurrency exchanges is one of the factors marking the change of Bitcoin price. Recently, Bitcoin has had a large outflow on these exchange platforms.

It is worth noting that on April 14, Bitcoin experienced the largest exchange outflow in five weeks. In just 24 hours, as many as 25878 Bitcoins (worth $1.04 billion) flowed out of crypto exchanges.

On April 21, according to the data released by CryptoQuant, the BTC reserve spot exchange reached the lowest level in more than four years.

Today's Influencer - Ripple CTO: Musk lacks the principle of moderation and is not suitable for owning Twitter

David Schwartz, chief technology officer of Ripple, accused Musk of using Twitter to "better treat the political speech he likes", U.Today reported. In addition, according to Schwartz, Musk may lack expertise in the moderation principle of social media and has never talked to anyone in the field.

Jackson Palmer, a Dogecoin co-founder, also did not support Musk, saying he was the last person to have Twitter. Previously, Jackson Palmer said that Musk's offer for Twitter was a malicious acquisition, and Vitalik Buterin also said that he did not oppose Musk's acquisition of Twitter, but only opposed the malicious acquisition.

Previously, Musk was studying whether to start the tender offer for Twitter, and had received nearly $46.5 billion in financing commitments.

Hot events yesterday - #Vitalik Buterin’s influence weakened, retailer giant #Bitcoin ATM

Vitalik Buterin admits that his influence on Ethereum is weakening

Tesla has not purchased or sold cryptocurrency since Q1 2021

In 2021, the cryptocurrency yield of American investors was six times higher than that of British investors

German banking giant - Commerzbank applies for cryptocurrency license

Europe's largest electronics retailer will install Bitcoin ATM

Author: Gate.io Observer Byron B.,Translator: Joy Z.

* This article represents only the views of the observers and does not constitute any investment suggestions.

*Gate.io reserves all rights to this article. Reposting the article will be permitted provided Gate.io is referenced. In all other cases, legal action will be taken due to copyright infringement.

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Daily Flash | Russia relaxed its attitude towards digital assets；The Bitcoin reserve on the exchange is the lowest in four years

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