Cryptocurrency Bulletin

The digital ruble, the central bank digital currency (CBDC) project of the Bank of Russia, is slated for release in the next year. But, the country is already making plans for what it intends to do with the currency, including using it for making payments to its key ally i.e. China. Authorities in Moscow are hoping that other countries will also be ready to adopt the digital currency for trading purposes, thereby allowing Russia to circumvent the sanctions imposed on it due to the Russian invasion. The digital ruble The Central Bank of Russia is preparing to introduce settlements with…

A crackdown was launched by the Department of Financial Protection and Innovation (DFPI) in California against 11 crypto firms that are believed to be in violation of California’s securities laws. Reports indicate that nine of the companies had solicited funds from investors for trading cryptocurrencies on their behalf. One of the companies that have been accused had presented an alleged metaverse software development project, while another one advertised itself as a decentralized finance (DeFi) platform. Crypto companies The financial regulator in California has been targeting crypto companies operating in the state and on Tuesday, the DFPI cracked down on almost…