Bitcoin
Russian Regulators Come to a Common Ground: Bitcoin Can’t be Used for Payments
Russian authorities are yet to reach full consensus on the future of cryptocurrencies but government institutions are on the same side of the fence in their intention to ban bitcoin payments. Representatives of Russian business said that other operations involving digital assets will be legalized and regulated.
Russian Central Bank and Finance Ministry agree to prohibit crypto payments
The Central Bank of Russia and the Ministry of Finance have come to an agreement on how to regulate Russia’s crypto space. Decentralized digital currencies will not be accepted as a means of payment, the head of the Russian Union of Industrialists and Entrepreneurs (RSPP) Alexander Shokhin told reporters following a meeting devoted to digitalization.
Last month, Bank of Russia urged for a wide-ranging ban of crypto-related activities, including their use in payments, exchange and mining. The hardline policy proposal was met with opposition from other institutions, including the finance ministry which came up with its own vision of how cryptocurrencies should be treated. Siding with the treasury’s stance, the federal government adopted a plan which favors regulation over prohibition.
” It is clear that both sides have come closer to this point. According to the daily Izvestia, Shokhin stated that if we talk about prohibitions, it is more about a ban against the use of cryptocurrency for payment. Other aspects, however, are subject to regulation. The report states that coins can be purchased, traded, and sold according to the government-approved regulatory framework.
Vladimir Potanin (co-chairman of RSPP’s Coordinating Council) noted that regulatory bodies are still trying to agree on details of Russia’s crypto framework, but he stressed that they all support a ban against cryptocurrency being used as a legal tender.
” The business community has come to an agreement with the government, central bank, and lawmakers that cryptocurrency regulations are more complex and difficult than those for digital assets,” the billionaire explained, as quoted by Forklog.
While the regulation of certain aspects of crypto economies, such as token issuance, is important, the Russian law “On Digital Financial Assets” (which was enacted in January last year) left many questions unanswered. A working group at the State Duma, the lower house of parliament, is now preparing legislation to fill the gaps.
A new law introducing comprehensive rules for the circulation of cryptocurrencies in Russia, based on the finance ministry’s proposals, is expected by Feb. 18. An earlier announcement by Anatoly Aksakov, chairman of the Financial Market Committee, was that a draft has been submitted to him. It is expected that the draft will be adopted by the Duma’s spring session.
This story contains tags
ban, Bitcoin, Bitcoin Payments, Central Bank, concept, Crypto, crypto payments, Cryptocurrencies, Cryptocurrency, draft law, Duma, finance ministry, Government, Law, lawmakers, legal tender, Legislation, means of payment, parliament, Payments, plan, prohibition, proposal, Regulation, Regulations, Russia, russian, State Duma
Do you expect Russia to regulate cryptocurrencies by the parliament’s summer recess? Let us know in the comments below.
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Bitcoin
$GME ETH Meme Coin: From Disruption to Sustained Value
Meme coins have been instrumental and effective in gaining traction for and within the crypto market recently. By December last year, the meme coin sector was worth more than 11% of the crypto market capitalization, excluding Bitcoin and Ether.
Between Jan 1 and Dec 1 last year, meme coin trading volume grew 979%. It accounted for 5.27% of the entire crypto market’s volume. The data point that is even more telling about the thriving meme coin ecosystem is that approximately 1 million new tokens are created weekly in this space. But do all the coins thrive the same way? The numbers say otherwise.
Coins that Rose and Fell Flat
Dogecoin, one of the most discussed meme coins, fell sharply twice. The coin hit its all-time high in May 2021, when the price reached almost US$0.74. However, the coin failed to sustain its price and currently trades at US$0.15.
The same happened with $TRUMP. Soon after its launch, the token witnessed explosive growth and reached an all-time high of US$75.35. It took only two days for the coin to travel from an all-time low of US$6.24 to an all-time high. However, with the presidential elections over, the enthusiasm around the token largely fizzled out. The token currently trades at a little over US$10.
Nearly the same pattern of fall could be seen in the case of $MELANIA. This meme coin hit its all-time high price of US$13.73 on January 19, 2025. In less than a couple of months’ interval, the price came down to an all-time low of US$0.65.
However, this is not the case for all Meme coins. GME ETH, in particular, is uniquely poised to capture the imminent fresh influx of capital the market is about to witness.
$GME ETH: The Sustained Disruptor
The digital asset space is all set to onboard the largest wave of participants from traditional finance. Bitcoin will likely hit US$100K once again, creating a positive psychological impact for many new investors and skeptics to embrace this asset class. Amid this, $GME ETH is uniquely placed to onboard this group of investors as the Gamestop movement is instantly relatable and familiar to trad-fi participants.
It is possible to buy $GME through conventional avenues using Apple Pay, Google Pay, PayPal, and other trusted payment methods. One can become a $GME owner on more than 35 trusted Centralized Exchange or may get their $GME directly on a Decentralized Exchange, ensuring complete control over your assets and privacy in every transaction.
Inspired by the 2021 stock market short squeeze, GME Ethereum is built on one of the most secure blockchains, Ethereum. It benefits from Ethereum’s robust security, decentralization, and ongoing scalability improvements through Layer 2 solutions.
Over time, the coin has emerged as a community-driven cryptocurrency that embodies resilience, determination, solidarity, and perseverance. It seeks to address challenges that exist in traditional financial markets, including limited information, fewer resources, market manipulation, and high transaction costs.
Altogether, $GME has moved beyond the role of playing a disruptor and emerged as a coin that could offer sustained value and build a loyal ecosystem by offering a lot more than appreciation in prices. It offers educational opportunities, access to a community of investors and traders, a wide wallet distribution, and low gas fees. Overall, it’s a wholesome place for any investor—new or experienced—to thrive!
Editor-in-Chief of CoinCentral and founder of Kooc Media, A UK-Based Online Media Company. Believer in Open-Source Software, Blockchain Technology & a Free and Fair Internet for all. His writing has been quoted by Nasdaq, Dow Jones, Investopedia, The New Yorker, Forbes, Techcrunch & More. Contact Oliver@coincentral.com
Bitcoin
BinoFi (BINO) Rivaling Bitcoin (BTC) as 2025’s Most Talked-About Crypto Investment
While Bitcoin (BTC) has long been the crown jewel of crypto investments, a new contender, BinoFi (BINO), is swiftly gaining traction among industry insiders.
Its cutting-edge hybrid exchange, innovative features, and accelerating adoption have many asking: Could BinoFi rival Bitcoin as the most talked-about cryptocurrency by 2025?
Here’s an in-depth look at what makes BinoFi unique and why it’s capturing the attention of both novice and seasoned investors.
The BinoFi Revolution: What Sets It Apart?
BinoF is a next-generation hybrid exchange designed to combine the best of centralized (CEX) and decentralized exchanges (DEX). This revolutionary approach aims to address long-standing issues in crypto trading, such as inefficiencies in liquidity, slow transactions, and security concerns.
Here’s what makes BinoFi stand out:
- Hybrid Liquidity Model: BinoFi offers the flexibility of tapping into both centralized liquidity pools for speed and decentralized smart contracts for security. This ensures trades are executed at the best possible price with minimal slippage.
- Cross-Chain Trading Without Bridges: Unlike most platforms reliant on wrapped assets or third-party bridges, BinoFi enables direct trading across blockchains. This feature significantly reduces operational risks and improves user confidence.
- AI-Driven Trading Tools: BinoFi introduces AI-powered smart trading bots, market alerts, and automated risk analysis tools that enable users to trade smarter and capitalize on market opportunities.
- Non-Custodial Security: Thanks to its Multi-Party Computation (MPC) wallets, users maintain full control over their assets while enjoying the conveniences of traditional exchanges like gasless transactions and account recovery
- Proof-of-Reserves Transparency: BinoFi uses on-chain proof-of-reserves to ensure liquidity, minimizing risks of insolvency that plague centralized exchanges.
These cutting-edge innovations position BinoFi as a versatile, secure, and user-friendly exchange platform that appeals to both professional traders and everyday users.
Bitcoin’s Legacy vs. BinoFi’s Potential
Bitcoin is undeniably a trailblazer, having introduced blockchain technology and decentralized finance to the mainstream. However, as the market evolves, Bitcoin’s limitations have become evident. Its scalability issues and slow transaction speeds make it hard to compete with modern solutions like BinoFi.
BinoFi is already achieving milestones that bolster its trajectory toward becoming a powerhouse in cryptocurrency. Its listing on CoinMarketCap marks its arrival on the global stage.
BinoFi’s fast-moving presale has made headlines with an extraordinary level of participation. Early backers are increasingly optimistic, and analysts believe the token could surpass the $1 mark by mid-2025, offering early investors life-changing returns.
Bitcoin’s strength lies in its community, but BinoFi is forging its own robust following. From its $1 million giveaway to its gamified trading system, BinoFi is building an ecosystem driven by engagement and innovation.
Features such as Trade-to-Earn and social trading further enhance its appeal, catering to a new wave of crypto enthusiasts.
Crypto analysts are increasingly bullish on BinoFi. A well-known industry expert highlighted, “BinoFi’s hybrid model is not just innovative; it’s a game-changer. By balancing speed, security, and transparency, it addresses fundamental flaws in current crypto exchanges. Its potential to scale and attract institutional adoption is immense.”
Could BinoFi Be Your Golden Opportunity?
With growing market traction and innovative technology, BinoFi represents a fresh perspective on crypto trading. While Bitcoin paved the way for decentralized finance, BinoFi is arguably the next step in its evolution. Whether you’re an investor who missed Bitcoin’s early days or someone looking to diversify, BINO offers a compelling case.
The cryptocurrency market is no stranger to swift transformations, and those who act early often reap the greatest rewards. The buzz surrounding BinoFi’s presale, expert predictions, and $1 million giveaway are not just hype but signals for a future ready to disrupt the crypto world.
Conclusion
BinoFi is more than just a cryptocurrency; it’s a movement redefining how assets are traded and managed. Its hybrid model and innovative technology could make it the centerpiece of the next generation of blockchain solutions.
For those seeking a high-potential investment opportunity, BinoFi offers an exciting chance to be part of what could become 2025’s most talked-about crypto investment.
Website: https://binofi.com
Whitepaper: https://whitepaper.binofi.com
Giveaway: https://giveaway.binofi.com
Telegram: https://t.me/binofilabs
Twitter: https://x.com/Binoficom
CoinMarketCap: https://coinmarketcap.com/currencies/binofi/
Disclaimer: This is a Press Release provided by a third party who is responsible for the content. Please conduct your own research before taking any action based on the content.
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