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A draft law devoted to the digital ruble has been filed with the State Duma, the lower house of Russian parliament. The legislation introduces rules determining how the new form of national fiat will be issued and amends a series of legal acts to facilitate its implementation. Bank of Russia to Be the Sole Operator of the Digital Ruble Platform A group of Russian lawmakers, led by the Chairman of the Financial Market Committee Anatoly Aksakov, have submitted draft legislation on the digital ruble, the central bank digital currency (CBDC) minted by Russia’s monetary authority. The document suggests legislative changes meant to create the conditions for its introduction. According to the explanatory notes to the bill, quoted by the crypto page of the Russian business news portal RBC, its main purpose is to develop the necessary payment infrastructure for the digital ruble. This, the sponsors believe, would provide Russian citizens, businesses, and the state with access to fast, conven

The last week of 2022 didn't turn out to be a good one as the industry recorded multiple exploits and an exit scam scare. Welcome to Finance Redefined, your weekly dose of essential decentralized finance (DeFi) insights — a newsletter crafted to bring you significant developments over the last week. For DeFi, the last week of 2022 saw another slew of exploits , insider job accusations and exit scam drama . It all started on Christmas, when Defrost Finance, a decentralized leveraged trading platform on the Avalanche blockchain, was exploit ed by a DeFi flash loan attack causing $12 million in losses. However, the hacker behind the attacks reportedly returned a portion of the funds the next day. Security analytic firm Certik looked into the chain of events and concluded that the $12 million of funds drained were a part of an exit scam. On Dec. 26, when the Defrost exploit saga was unfolding, Bitkeep, a multichain wallet, was exploited for $8 million by hackers. Later in an analysis

After climbing to a high of 0.79 ether on Dec. 17, 2022, Donald Trump’s non-fungible tokens (NFTs) have dropped considerably in value over the last 12 days. On Dec. 29, 2022, Trump’s NFT collection has a floor value of 0.15 ether, which is around 81% lower than the floor value highs recorded last week. Trump Digital Collectibles Slide Significantly in Value Since the Launch, After Looking at the Art Trump Was Pleased With His 30-Inch Waistline The 45th president of the United States, Donald Trump, recently released 45,000 non-fungible tokens (NFTs) and during the first day of the sale, each NFT was sold for $99 per unit. Trump’s NFTs started trading on secondary NFT markets on Dec. 15, 2022 and had a floor value of around 0.1 ether or around $125 for the most inexpensive Trump NFTs. Two days later, Bitcoin.com News reported on how Trump’s NFTs skyrocketed in value after being mocked by a large number of left-leaning political commentators. The 45th president of the United States, Do

Source: Mehaniq41/Adobe A South Korean hacker stole $6.7 million from crypto wallets belonging to the deceased CEO of a business empire that included the crypto exchanges Korbit and Bitstamp. Yonhap reported that a branch of the District Court in Eastern Seoul sentenced an unnamed 39-year-old man to six years in prison after finding him guilty of hacking the wallets of the NXC founder Kim Jeong-ju. Kim died earlier this year at the age of 54. The hacker was also fined $89,000. Kim’s business empire included the South Korean gaming giant Nexon, which is listed on the Tokyo Stock Exchange. A keen crypto advocate, Kim also oversaw the purchase of Korbit. The platform is South Korea’s first crypto exchange – and is still one of its largest. He also bought Europe’s oldest crypto trading platform, Bitstamp. In addition to his business activities, Kim was also an avid private crypto investor, and had built up a portfolio of coins that included bitcoin (BTC), ethereum (ETH)

Despite difficult macroeconomic conditions, the increase in crypto usage has been significant in 2022. The number of cryptocurrency owners surpassed the 400 million mark in November 2022, hitting 402 million. According to Crypto.com, the average monthly growth rate in adoption over the year was 2.9%. Considering that 2022 was one of the worst years for the industry, the growth is commendable. The exchange’s study noted that in 2023, global cryptocurrency owners could reach 600-800 million, nearly doubling in size. Source: Crypto.com What about other crypto sectors? The study also highlights that we could see several AAA blockchain gaming titles in the next few years. Blockchain gaming was one of the least affected sectors in the 2022 market correction. This is attributed to the fact that the gaming industry caters more to innovation than profit-making. Additionally, the report mentioned another possible market driver which might be the growing number of applications for

Expect blockchain adoption to increase in the year ahead — in addition to the culture wars surrounding it. This year has been a particularly tumultuous one for the crypto market, with many decentralized and centralized entities failing or struggling to stay afloat. It feels as though we are in the final stages of the bear market, with bad actors and practices being purged in a process that is both dramatic and necessary for the maturity of the entire system. Despite this, the Web3 technologies that emerge from this crypto winter will change everything.  Web3 represents the next evolution of information exchange, with similarities to the transformation from a largely agricultural society to a more industrial one. It is a computing fabric that is designed to put humans at the very center and prioritizes privacy. Blockchain technology will bring about a new way of interacting with the internet and will fundamentally change how we engage with each other. As we move into the future, here a

Join Our Telegram channel to stay up to date on breaking news coverage DeGods and Y00ts, two of the top Solana non-fungible token (NFT) project s, were rumored to be departing the SOL ecosystem for months until the project team on Sunday announced the migration on Twitter. DeGods will officially bridge to Ethereum in Q1 of 2023. The bridge is not the destination. It is on the path to get there. pic.twitter.com/Wy8CbGx5VZ — DeGods III (@DeGodsNFT) December 25, 2022 According to the team, Y00ts and DeGods will switch to Polygon and Ethereum, respectively, in the first quarter. According to Rohun Vora, aka Frank, the project ’s leader, There’s an argument to be made that [DeGods] has topped out on Solana. It’s challenging to acknowledge, but achieving the growth rate we desire has been challenging. If Ethereum is where we need to go to continue expanding, then that’s what we must do. The two collections are among the most talked-about in the Solana NFT market, with DeGod

A community member pointed out that the lack of movements may be because of the controversies surrounding centralized exchanges. Traders looking forward to a rally during Christmas were disappointed as the markets turned out to be steady as many celebrated the holidays. Crypto community members expressed their disappointment by sharing memes, with some even employing their creativity through poetry.  On Dec. 23, Data tracker Coinstats shared an image showing positive market movements and floating the idea of a potential “Santa Claus rally .” Is that the beginning of the Santa Claus Rally? pic.twitter.com/zf1WDNaGpm — CoinStats (@CoinStats) December 23, 2022 However, with Bitcoin’s volatility index hitting record lows on Dec. 25, any thoughts of having a merry BTC rally on Christmas were put to a stop. Data from Cointelegraph Markets Pro showed that the top crypto hovered around $16,800 on holiday.  A community member pointed out that the lack of a rally this Christmas may be b

Join Our Telegram channel to stay up to date on breaking news coverage Despite the current market conditions, a growing number of new crypto projects have potential to return high gains in 2023. Now is a good time to begin constructing a diverse cryptocurrency portfolio. These projects have to be on your attention for investment, they are currently in the presale phase and can expect to provide early investors with 10x returns. Let’s dig in and explore the exciting crypto projects that are featured below as this post highlights the best crypto for 2023. Dash 2 Trade Dash 2 Trade‘s goal is to create a dependable and long-lasting center point built on a Web3 platform. Dash 2 Trade was created for and by traders. In order to create a one-stop turn-key solution that provides the specialized intelligence that enables retail investors to consistently outperform the market and the procedure to change the crypto trading space for good, it is delivering professional institutional-gr

The chairman of the U.S. Securities and Exchange Commission (SEC), Gary Gensler, has revealed that the regulator will use all available tools to bring crypto platforms into compliance with its rules. In addition, the SEC chief said: “Proof of reserves is neither a full accounting of the assets and liability of a company, nor does it satisfy segregation of customer funds under the securities laws.” SEC Chair Gensler on Crypto Regulation SEC Chairman Gary Gensler stressed the importance of bringing crypto platforms into compliance after the securities regulator filed charges against former Alameda Research CEO Caroline Ellison and former FTX executive Gary Wang for their role to defraud equity investors. The SEC boss tweeted Wednesday: Until crypto platforms comply with time-tested securities laws, risks to investors will persist. It remains a priority of the SEC to use all of our available tools to bring the industry into compliance. In an interview with Bloomberg Thursday, Gensler

Join Our Telegram channel to stay up to date on breaking news coverage Propy (PRO) price is hovering at $0.46, up by over 20% in the last 24 hours and recording a live market cap of $38.39 million alongside a 24-hour trading volume of $1.47 million. It currently ranks #381 on CoinMarketCap . The recent Propy price rally is attributed to the news of a partnership with its NFT industry peer, SEEN.HAUS, coming in to prop up Propy’s real estate NFT dominance where it would sell NFTs representing physical assets like cars, jewelry, watches, and physical collectibles. Propy is a platform for international real estate transactions powered by PRO crypto, an Ethereum-based token used to pay for platform fees like modifying and creating title and deed contracts. Propy is a solution in itself, creating an innovative real estate transaction platform based on blockchain technology. The core objective of the Propy project is to serve the real estate industry by providing a centralized prope

The cryptocurrency realm has always been destined for widespread adoption. Numerous well-known platforms, companies, and governments have openly embraced cryptocurrency. Particularly, Dubai has become a hub for the cryptocurrency industry.  Dubai is unquestionably a crypto enthusiast’s dream location thanks to the government’s interest in the metaverse and the legal framework that has allowed for the establishment of numerous cryptocurrency businesses. Moreover, payments with cryptocurrency have been a dream of many. Even though cryptocurrencies are progressing in that direction slowly, Dubai is also two steps ahead. In one of the latest reports, it was revealed that XRP users can pay for homes in the UAE with the XRP token. You could buy a swanky Keturah Reserve home in Dubai using #XRP, among other things.https://t.co/rYYDah5qbB — WrathofKahneman (@WKahneman) December 21, 2022 XRP payments for home made possible by Keturah Reserve As per the details in the broc

Shaktikanta Das. Source: a video screenshot, Reserve Bank of India / YouTube The governor of the Reserve Bank of India (RBI), Shaktikanta Das, suggested that cryptocurrencies should not be regulated - they should be banned altogether, lest they lead to the next financial crisis. Speaking at the Business Standard BFSI Insight Summit on Wednesday, and asked about the war on crypto in India, Das said that "there is no war or anything like that."  While different countries have different views on how to deal with crypto, he said, "Our view is that it should be prohibited because if it is allowed to grow - and if you try to regulate it and allow it to grow - please mark my words, the next financial crisis will come from private cryptocurrencies." He went on to say that it is the position of the central bank that "private" cryptocurrencies - meaning, those not issued by governments and/or banks - have "huge" inherent risks for the

Disclaimer: The Industry Talk section Features insights by crypto industry players and is not a part of the editorial content of Cryptonews.com. Miami, United States, 21st December, 2022, Chainwire The highly anticipated digital collectible experience is coming on January 10, 2023, with additional releases to follow. Earlier this fall, Nifty’s, the platform for NFT-powered fan communities, and Warner Bros. Discovery Global Consumer Products announced its most recent partnership: Game of Thrones: Build Your Realm, bringing fans of the global phenomenon into the world of digital collectibles and experiences. Today, the partnership is excited to share the details of the Game of Thrones: Build Your Realm Hero Box. This will be the first look into the digital collectible experience, highlighting some fan favorites from the beloved series.  “The Game of Thrones experience has been a long time coming,” said Jeff Marsilio, CEO and Co-founder of Niftys. “Our teams have dili