The Russian Ministry of Finance is moving forward with its cryptocurrency management strategy. The financial institution has been working on its central bank digital currency (CBDC), the digital ruble, and has proposed sanctions for crypto buying and selling and mining. This move follows FTX’s announcement last year that it planned to invest $100 million with two partners to promote the incorporation of the Solana blockchain into video games.
The Russian Ministry of Finance is moving forward with its proposal to handle cryptocurrencies, according to CoinDesk on Monday, February 21. On February 18th, a bill was offered to parliament that was basically dependent on the authorised roadmap from several government governmental organisations. According to the report, the Ministry of Finance is adopting a different approach to cryptocurrency within the country.
In opposition to the Ministry of Finance, the Financial Institution of Russia is in favour of regulating cryptocurrencies. Alternatively, the Financial Institution of Russia would want to see crypto mining and trading prohibited. The banking institution has been working on its central bank digital currency (CBDC), the digital ruble, and has proposed fines of up to 500,000 rubles for purchasing, trading, and mining crypto.
In other news, crypto exchange FTX is launching a gaming business to encourage people to invest in cryptocurrencies, blockchain, and non-fungible tokens (NFTs), Bloomberg reported on Monday. This system will be known as FTX Gaming, and it will be operated by the FTX U.S. branch, with a “crypto-as-a-service” platform. Through this, gaming businesses will be able to distribute tokens and assist NFTs.
This move follows FTX’s announcement last year that it planned to invest $100 million with two partners to promote the incorporation of the Solana blockchain into video games. The crypto sector has been attempting to integrate additional with the gaming trade, which has sparked debate among followers and builders who favour “play-to-earn” styles, in which gamers might profit financially from blockchain-based video games.
Meanwhile, Gunnercooke, a London-based law firm, is expected to be the first in the United Kingdom to accept cryptocurrencies as payment, Metropolis A.M. reported Monday. The decision comes after a number of medium-sized U.S. law firms began taking cryptocurrency funds in 2017.
Gunnercooke has expanded rapidly in the preceding decade, and the company is said to have a fixed-fee pay structure and a decentralised enterprise model. To make all of this happen, the company struck a deal with Compass, a British crypto exchange. The company stated that it received its first ethereum payment last week from ether staking firm Attestant.