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Russia has no intention of recognizing cryptocurrency as a payment method within its jurisdiction, despite indications that digital currencies have been used to circumvent sanctions in cross-border transactions. Anatoly Aksakov, chairman of the Financial Market Committee in the State Duma, emphasized that cryptocurrency will never be considered as money in Russia. "If something needs to be paid for, it can only be paid in rubles," Aksakov said, reflecting the views of Russian regulators, particularly the conservative Central Bank of Russia (CBR).

Aksakov noted that cryptocurrency can only be used as an investment instrument in Russia. This stance underscores the country's cautious approach to digital currencies, prioritizing the use of the ruble for domestic transactions. The clear distinction between investment and payment uses of cryptocurrency highlights Russia's regulatory framework, which seeks to balance innovation with financial control and stability.
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#marshallislands Finance Ministry executed universal basic income (UBI) payments using blockchain-based sovereign bonds. This marks the first government deployment of this payment method globally. The Pacific island nation distributed funds through USDM1 #Digital bonds operating on Stellar’s network infrastructure.

The ministry developed the system alongside Stellar Development Foundation and Crossmint to modernize Economic Net Resource Allocation (ENRA), the country’s existing universal income initiative. Physical currency distribution, occurring four times annually, has been removed in favor of instant digital wallet transfers reaching citizens across remote island locations.

Treasury Bills Collateralize Digital Payment System
USDM1 functions as dollar-denominated government debt instruments with full Treasury bill collateralization. Crossmint built the Lomalo wallet application specifically for receiving these blockchain-based payments. Citizens access funds immediately through wallet accounts hosted on Stellar’s payment rails.

Finance Ministry officials explained that USDM1 bonds follow Brady-bond legal frameworks established under #Newyork commercial law. This structure has governed international sovereign debt markets for multiple decades. The approach relies on binding legal agreements rather than administrative policy decisions.

An independent trustee maintains custody of Treasury collateral separately from government or corporate control. Bond redemption terms
Representatives Emphasize Monetary Sovereignty
Ministry representatives emphasized that monetary sovereignty remains unchanged because ENRA operates as a fiscal distribution infrastructure rather than a currency replacement. Each payment unit corresponds directly to Treasury securities maintained by third-party trustees with complete backing throughout the system.

Geographic dispersion created the primary challenge motivating this #technological approach. Island communities separated by ocean distance made traditional cash distribution logistically complex. Ministry officials stated the blockchain payment system was engineered specifically for the Marshall Islands’ operational requirements.

The multiyear development process addressed infrastructure limitations inherent to the nation’s scattered island geography. The distance between population centers and the restricted physical presence of banking shaped daily financial realities, influencing system design. The #blockchain approach solved practical service delivery obstacles and also preserved established legal frameworks governing sovereign debt instruments.

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Germany's central bank joins global financial tokenization initiative

Germany's central bank, Deutsche Bundesbank, has joined Singapore's Project Guardian, a global initiative by the Monetary Authority of Singapore (MAS) to modernize financial markets through asset #tokenization .
Launched in 2022, Project Guardian will work with financial institutions and global regulators to set industry standards and promote the adoption of tokenized assets in capital markets, ultimately leading to greater global financial connectivity.
the participation of the Bundesbank, one of Europe's leading central banks, signals progress in integrating #digital assets into the mainstream financial system. The bank is actively participating in the pilot project Project Guardian, which aims to create a #blockchain platform for the efficient management of cross-border assets.
Burkhard Balz, a member of the Bundesbank's Executive Board, emphasized that the project is in line with European research on distributed ledger technology (DLT) and the application of blockchain in finance.
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XRP investors have made more than $500 million in the past 48 hours.

Short-term holders are responsible for much of the selling after the CME announced #XRP futures.
XRP could fall nearly 20% to $2.62 as bulls show signs of exhaustion. Potential. Ripple's
XRP fell 3% in early trading on Friday as blockchain and technical indicators show bulls are losing momentum
XRP fell 3% in early trading on Friday as U. S. President Donald Trump signed the Presidential Task Force on #Digital Assets. Despite the positive developments surrounding the signing of the executive order creating the Presidential Task Force on Digital Assets, the cryptocurrency showed no signs of recovery.
According to Eleanor Terrett of Fox Business, the Chicago Mercantile Exchange (CME) has not decided to launch a futures contract on XRP. This disappointment could be the reason for the market weakness.
the news caused a wave of negative sentiment in the XRP community, which was waiting for the launch to confirm the possible approval of the Securities and Exchange Commission (SEC) XRP ETF.
as a result, the #token has continued to strengthen, and in the last 48 hours investors have made a profit of $ 500 million.
Realized gains were driven by potential selling activity from short-term holders, as evidenced by small jumps in turnover over 90, 180 and 365 days of hibernation.
additionally, XRP's open interest (OI) growth has stalled over the past few days, reaching up to 2.14 billion XRP from an all-time high of 2.34 billion XRP. Open interest is the total number of open contracts in the derivatives market; a decline in OI indicates that traders are closing positions.
Despite the decline in OI, XRP bulls still dominate the spot market after net outflows increased on #Binance and Kraken last week. dominate the spot market. dominate the spot market. However, Coinbase and Bitstamp saw inflows.

According to Coinglass, $ 10.

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On Capitol Hill, legislative debate is intensifying on two key cryptocurrency bills.

On Wednesday, the Senate Banking, Housing and Urban Affairs Committee will examine a bipartisan legislative framework for #digital assets.
March 5, the House Financial Services Committee will hear testimony on Stablecoin and
On Tuesday, White House Director of Artificial Intelligence and #Cryptocurrencies David Sachs held his first press conference on cryptocurrencies, outlining legislative priorities, the first time the Trump administration will look to regulate the industry. The key steps are a market structure bill and a comprehensive stable coin bill. At the event, which was attended by key House and Senate leaders, Senate Banking Committee Chairman Tim Scott (Republican) announced his intention to bring both key #cryptocurrency bills to a vote in the Senate before the end of the president's term.
Last year, there was a bipartisan call for a cryptocurrency bill in Congress, but in 2024.
earlier this month, Senator Tim Scott (Republican), chairman of the Senate Banking Committee, tried to fulfill a campaign promise related to the digital asset industry during the 100 days of President Donald Trump's cryptocurrency-friendly administration, and among others involved in pushing for a cryptocurrency bill, promised to pass a bill on the structure of the stablecoin market and regulatory framework.
the Financial Innovation and Technology for the 21st Century Act (FIT21) was passed by the House of Representatives last year. However, as the new Congress begins its work, this market structure bill must be approved again by House members before it moves to the Senate.
Meanwhile, the GENIUS Act, which gives issuers of stable coins, including #Tether and Circle, a federal path to legalization in the U. S. , is gaining momentum.
CBDCs are similar to stable coins as assets tied to the price of fiat currencies such as the U. S. dollar.

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#CryptoUpdates

Permanent link to this post: the House Oversight and Government Reform Committee wants to investigate the FDIC's debanking practices under the previous administration.

Chairman Comey released the agency's uncut records to investigate these cases.
Custodia Bank CEO Caitlin Long says President Trump has done nothing to address the problem of debanking.
The House Committee on Oversight and Government Reform is investigating the actions of the Federal Deposit Insurance Corporation (FDIC) under the previous administration.
The focus of this investigation is whether financial institutions were forced to shun #digital assets.
The focus of this investigation is whether financial institutions were forced to shun digital assets, which could stifle innovation and limit access to banking services for people and businesses.
The new acting FDIC chairman, Travis Hill, said that under President Biden, the agency was concerned about banks' attempts to offer #cryptocurrency services. He expressed concern about the antagonism. One possible reason was reports that some companies and individuals were allegedly forced into bankruptcy because of their alleged involvement in #cryptocurrencies , and he warned of perceived overreach by the regulator.
In early February, the FDIC released a redacted version of a document about its interactions with banks that had been released to the public. Sixty-four documents reveal correspondence with 24 banks that received suspension letters, while 111 documents show records of correspondence with the FDIC and cryptocurrency-related activities of other regulated institutions.
However, House Oversight and Government Reform Committee Chairman James Comer argues that full disclosure of the documents is necessary to better understand the situation. He has already requested access to uncensored FDIC documents to understand why the FDIC ordered banks to refrain from cryptocurrency projects.

He also asked them to share their experiences with the FDIC.

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#BlockchainFuture #TrendingTopic

Court documents filed as part of a Freedom of Information Act (FOIA) lawsuit against the U.S. Federal Deposit Insurance Corporation (FDIC) show that U.S. regulators have suspended cryptocurrency activity at some financial institutions.

In a lawsuit filed in the U. S. District Court for the District of Columbia on March 12-6, the court published a "notice of suspension" sent by fdic officials to the boards of various U. S. banks whose names were redacted.
According to the letter, sent in 2022, the FDIC asked the agency to "cease all activities related to cryptoassets" due to uncertain regulation of #digital assets.
Fdic will notify all banks supervised by fdic at a later date when a decision has been made regarding the supervisor's expectations for engaging in cryptoasset-related activities, including the need for regulatory filings.
court documents were part of a FOIA lawsuit filed by History Associates on May 6. #Cryptocurrency exchange #Coinbase , which is also involved in an enforcement lawsuit filed by the SEC, hired the company to send FOIA requests to the FDIC in connection with the cryptocurrency company's application for a bankruptcy stay. The request was denied, leading to litigation.
Conspiracy theories or evidence of U. S. government policy?
In other letters released on Dec. 6, the bank was informed that it may need to provide information before providing additional services. Much of the text has been redacted, but some of the FDIC emails indicate that financial institutions are considering cryptocurrency-related activities.
These emails show that the work of Chokepoint 2.0 was not just a cryptocurrency conspiracy theory, Coinbase General Counsel Paul Grewal said in the Dec. 6 release. The FDIC is still hiding behind overly broad restrictions.
Operation Chokepoint 2.0 is a colloquial term used by many in the industry to refer to the U. S. government pressuring banks to cut ties with cryptocurrency companies.

Brian Armstrong, CEO of Coinbase, said at 11:27 a. m.
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In a note to clients released today, Bernstein analysts led by Gautam Chhugani are confident that bitcoin will eventually replace gold as a reliable security asset, the note said.

We expect #bitcoin to become a major asset of a new era over the next 10 years, replacing gold, becoming an integral part of institutional multi-asset holdings and the standard for corporate financial governance.
Bitcoin is up 141% since the beginning of the year. But much of that growth was due to the victory of pro-cryptocurrency Republican candidate Donald Trump in the 11th U. S. presidential election.
After Trump's victory, the #cryptocurrency market saw a surge of optimism as the president-elect is expected to create a favorable regulatory environment for #digital assets. Since 11/4, the total cryptocurrency market has grown from a staggering 2.4 trillion to a staggering 3.9 trillion at the time of writing, representing a staggering 62.5% growth.
In his post, Bernstein predicts that #Btc could rise in value to 200,000 baht by the end of 2025. The trading firm's predictions are in line with those of Charles Edwards, founder of Capriole Investments, and BTC could double in value within weeks as its relatively low market value allows for faster price movements.
Bernstein's optimistic forecast cited mainstream adoption of bitcoin as a key factor in its success. A. It was complemented by Gil Luria, an analyst at Davidson. However, he warned that bitcoin still has a long way to go before it becomes widely accepted as a medium of exchange and unit of account. This is the first time I've ever seen a video with a girl in it. :
Bitcoin is currently being used as a savings vehicle, a low correlation asset that replaces gold as a hedge against declining economic stability.
While bitcoin is not yet widely recognized as a currency, it has gained popularity as a reliable asset class on companies' balance sheets. Recently, Hut8, a leading cryptocurrency mining company, announced plans to create a strategic reserve for btcoin.
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#CryptoMarketTrends

Hackers attacking decentralized exchange (DEX) KyberSwap have been seen moving millions of digital assets from one blockchain to another.

On February 26, analytics firm PeckShield detected the moves from the attacker's wallet address to KyberSwap.
According to the #blockchain data, the hacker moved 798.8 Ether (ETH) worth nearly £2.5 million from Arbitrum to the #Ethereum network.
In addition to the £2.5 million, the hacker also transferred about $1 million in stable coins. A wallet associated with Exploiter transferred £826,500 in stable #Dai (DAI) coins to another wallet.
The KyberSwap hack was one of the biggest hacks of 2023, with DEX notifying the community on November 23 that a "security incident" had occurred and advising users to withdraw funds.
It was initially reported that around £46 million of #digital assets had been withdrawn as a result of the hack. However, it was later revealed that the total loss amounted to £49 million.
That day, the hacker also left a message online for the KyberSwap team saying that negotiations would begin "after a full rest".
In response, the KyberSwap team offered a reward of £4.6 million in exchange for 90% of the stolen funds.
However, the reward negotiations took a nasty turn when hackers began to express their dissatisfaction with KyberSwap's approach.
On November 29, the hacker posted online that he would postpone negotiations if the KyberSwap team continued to threaten legal action or threats, which the hacker described as unfriendly.
The hackers then made an unexpected demand, demanding full control of KyberSwap and all of its assets.
The hackers also claimed temporary full right and possession of KyberDAO, which acts as Kyber's governance structure, and all Kyber-related documents.
The company was given until December 10, 2023 to make a decision before the "contract expires.

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#CryptoAdoption

In this post. Economist Peter Schiff expressed pessimism about the duration of the global economic boom after Trump won the presidential election.

According to the economist, the boom was driven by consumer #optimism fueled by misplaced confidence in the president-elect.
U. S. stock indexes and #digital assets reached all-time highs and the U. S. dollar reached its highest level in almost a decade.
Peter Schiff believes that Trump's economic boom is gradually gaining momentum. The economist added that consumer optimism will not last long, as the current economic problems will worsen.
economist Peter Schiff expressed concern about Trump's current economic boom. The economist's comments sparked a discussion on website X, with more people voicing their opinions on the possible consequences of the economic boom.
Peter Schiff said that consumer optimism about the economy has been gradually increasing since Trump's victory. He added that while the booming economy is likely to continue for some time, it will not solve the problems that voters expected Trump to solve.
Consumer optimism is growing and will continue to grow for some time, as false confidence in the boom caused by Trump continues to spread. However, the good mood won't last long as all the economic problems that voters hoped Trump would solve have worsened.
After Trump was re-elected president of the United States, U. S. stocks hit new highs and the dollar rose against other international currencies.
According to CoinMarketCap, #bitcoin also hit an all-time high a few days after the president-elect's victory. During the campaign, Trump announced his intention to prioritize digital assets, fueling current consumer optimism.
During the campaign, Trump also promised to make the U. S. a global bitcoin superpower.
Among his promises is the removal of U. S. Securities and Exchange Commission Chairman Gary Gensler, who led various crackdowns on digital asset companies during the Biden administration.

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#CryptoTrends #TokenEconomy

Vietnam issued a warning about % Pi network falls 18% as Vietnamese authorities issued a legal warning Vietnamese authorities issued a warning about the risks associated with the Pi network

They emphasized that #cryptocurrencies , including Pi, do not have the status of a legal asset in the country.
Following the warning, the price of Pi tokens fell 15 percent in less than 24 hours to about $BTC Vietnamese authorities warned citizens of the risks associated with the Pi Network, noting that its tokens have no real value and remain highly speculative.
On March 2, Hanoi police noted a surge of interest in the tokens, attributing it to aggressive promotion on social media and the recent listing after the main network's launch.
authorities warned that Pi Network promotes mining applications with unrealistic expectations of constant price increases. This, they said, attracts users who do not fully understand the risks.
authorities also explained that cryptocurrencies, including PI, do not have the status of a legal asset in Vietnam. Therefore, disputes and financial losses related to PI-related transactions are not protected by law.
additionally, law enforcement authorities warned that the Pi network could be used for fraudulent activities. They emphasized the danger of fake #token scams aimed at stealing user data and laundering money.
Since Pi has no practical use and its value is self-appropriated, many people are unaware of its true value. Some people may use Pi for illegal activities, such as creating fake Pi #cryptocurrency to fund asset misappropriation, developing fake Pi applications to fraudulently collect user data, or gaining unauthorized access to misappropriate assets or cryptocurrency in Pi transactions.
In addition, #digital assets are not recognized as a legal payment method in the country, and organizations using digital assets for transactions may face fines and lawsuits.

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