#179 news. 14.01.2018

photo kryptomoney.com

Of random events: the Offer is the first multinational cryptocurrency for the BRICS and the EEU; Indonesia vs kryptowalutom; the US wants to control the private BITCOIN wallets of its citizens; Red on the stock exchanges.

• The offer is the first multinational cryptocurrency for the BRICS and the EEU:

At the end of the XII century, suddenly, Genghis Khan created the largest Empire in the world, took control of the trade route «silk Road», which ranged from China to Eastern Europe. Involved in the management of Mongolian, in the period of Pax Mongolica, the silk Road was particularly safe from invaders, as well as taxes, which stimulated free trade between China and Mediterranean countries, providing political and economic stability.

Recently, Russian President Vladimir Putin suggested that larger scale initiatives cybernetycznej than the Pax Mongolica, after consultation with one of the founders of Ethereum, a Blockchain expert Vitalikiem Buterinem and experts from fifteen other countries including USA, India, Israel, Armenia and Turkey about Blockchaina and initiatives kryptowalutowej. Putin for the first time in their cyber initiative connects some of the most promising emerging market economies, which take place in Asia, Eastern Europe, Africa and South America through the Blockchain and smart contract technology, using new multinational cryptocurrency for joint adoption by the BRICS and the countries of the Eurasian Economic Union (EEU) (member States).

Member States, known from the huge potential of economic growth, can boast the first of its kind initiative cyber. In connection with the credit crisis in the years 2007/2008, which blocked their economies. The interest rate on Federal increased the growing debt burden and falling prices for raw materials global prevented the development of exports. The cyber initiative could transform the economy of member States, stimulating technological innovation to increased income and economic prosperity.

According to the Russian source media RT, a few days before the end of 2017, Central Bank of Russia proposed the creation of the first joint multinational kryptowaluty for the BRICS and the EEU. Jointly adopting the new digital currency, member States can boost investment in Blockchain, smart technology contractual commitment to the creation of cashless societies and to improve liquidity management, with significant support from the New Development Bank.

Many economists, experienced bankers and traditional financial institutions have tried to downplay the impact on crypto currency in the global economy, for example, German insurance giant Allianz Chief Economic Advisor Mohamed El-Erian, who said, «the Value of Bitcoin will explode, but mass adoption will not take place. «

And if it is accepted and implemented, the first multinational cryptocurrency can be used by more than 41 percent of the world population. This can potentially increase the efficiency of trade between member States by replacing other currencies of cash used in trade settlements. Can also create a technologically inventive vending unit that can change global trade using Blockchain technology and smart contracts.

In order for this initiative to succeed, among other things, the international law of member States about the crypto currency requires the updates in a synchronized way. Currently, there are significant differences between the legislation of member States in the field of crypto currency, as shown in the following table.

photo cointelegraph.com

In accordance with the instructions of President Vladimir Putin, Russia’s Central Bank and Ministry of Finance jointly prepared a draft law regulating kryptowaluty and ICO, which were submitted to the Duma for approval 28. Dec 2017. The bill will be passed in March and ends at 1. of July 2018.

Russia allows for the ICO, but sets limits to them. Those who are not qualified investors will be able to buy tokens of a certain type in the amount of 50 thousand rubles ($869). The Ministry also provides for the limitation on the maximum amount of funds raised in the ICO of up to one trillion Rubles (17.4 million doalrów).

Currently, the production and trade kryptowalutami not regulated by Russian legislation. The law defines mining to crypto currency and trade as an activity subject to tax. Individual entrepreneurs and legal entities engaged in the extraction kryptowalutowym and commercial activities, being subject to taxation similar to the taxation of entrepreneurial activities.

Trade kryptowalutami not podlegałby of value added tax (VAT).

Cross-border tax policy of the member States on a new multinational kryptowaluty:

The law does not apply to cross-border tax legislation that may apply to transnational transactions kryptowalutowych between member countries in the adoption of new kryptowaluty multinational. Member States, except Armenia, Belarus, Iran, Kyrgyzstan, apply for OECD action plan on BEPS. It is not clear if member States will apply an approach similar to the EU in the development of appropriate transnational tax policy in respect of the new multilateral trade agreements.

• Indonesia vs kryptowalutom:

Bank Indonesia issued a press-release 13. February, warned its citizens before using crypto currency for the sale, purchase or trade, saying that virtual currency is not legal in Indonesia.

This statement appears after the September statement, the Bank of Indonesia will not accept Bitcoin as payment, which will lead to the voluntary closure of two exchanges crypto-Indonesian, BitBayar and TokoBitcoin. Bank Indonesia refers to concerns with potential application in the fight against money laundering and the financing of terrorism as the cause of the campaign of anti-kryptowalutowej:

Virtual currency is exposed to risks associated with banks and they tend to be used for money laundering and terrorism financing, therefore, can potentially affect the stability of the financial system and cause financial damage to society.

While there is no official ban on the use of Bitcoin in the country, according to Wikipedia, a press release, which prohibits any activity associated with kryptowalutą has a sharper tone than previous statements, which only encouraged citizens caution against Bitcoin.

The Algerian government also took measures to ban cryptography, and reports about finances in 2018 will make possession and trade in Bitcoin will be illegal across the country. In early January, the Supreme religious official in Egypt, Grand Mufti Shawki Allam said that Bitcoin is illegal in accordance with Sharia law, citing concerns about money laundering and the financing of terrorism.

• The US wants to control the private BITCOIN wallets of its citizens:

The Secretary of the Treasury of the United States, Steven Mnuchin, on Friday submitted a number of statements that relate to international use of digital currencies at the meeting of the Economic Club in Washington, DC.

The Secretary expressed fears that Bitcoin wallets, which can potentially become a modern analogue of an anonymous Swiss Bank account. It intends to cooperate with the G20 countries, offering American skills trace, to prevent such abuses. He said

If you have a purse Bitcoinowy, this company (the owner of the wallet) has the same obligations as the Bank to know who is its owner. We can track these actions. We will work closely with the G20.

Mnuchin, probably, does not understand that not all purses are posted on the «company.»

Industry experts on crypto currency, however, is not so enthusiastic about the idea of more regulation. For example, Sergei Sevriugin, CEO and founder of platform risk sharing REGA, told Cointelegraph:

I think that the decision is regarding crypto currency. Adjustment community, not Central government, is the best type of regulation that may someday exist. Centralized adjustment will kill the idea of crypto currency without any control by the community, this kind of regulation will lead to several problems, including corruption. We all remember that the latest crisis, including the collapse of the system of mortgage lending in 2008, he was under the full control and regulation. To enter kryptowaluty full control, the government must first control the Internet.

Mnuchin reacted to the potential that the state can use digital currencies in order to cope with the existing financial sanctions. He expressed confidence that the risk of such actions is small, saying that «not concerned» that countries such as Russia and Venezuela will be able to function in this way.

• Red on exchanges:

The market for crypto currency is experiencing low level. Only three out of 20. major currencies on CoinMarketCap on the green. The total market value is at a level of 692. billions of dollars, but despite this, still growing after falling from the 11th. Jan-about 630. of billions of dollars.

Ripple, which grew by 18 percent from 12. February, showed about a 10% loss in the last 24. hours. Ripple there is a significant increase after news about the partnership with MoneyGram 11. February. And the price can fall after MoneyGram became clear on Twitter that this partnership concerns the strictly internal use for the pilot program and not for all users.

IOTA has experienced this decline in early December, after explaining that Microsoft wasn’t officially their partner, as indicated by the blog kryptowaluty, but rather their market participant.

Cardano and the Throne noted, respectively, a decline of 13% and 17% within 24 hours, with the gimbal you could sell about 0.76 of the dollar, and the Throne of about 0.92 dollar.

The total turnover on the exchange today amounted to 34.7 billion dollars.

source: cointelegraph.com, coinmarketcap.com.

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