Crypto Payments May Not Help Russia Bypass Sanctions, Experts Say

Russia is preparing to authorize international crypto payments but people involved in the industry doubt this would allow the country to circumvent sanctions. At the same time, the United States has been tightening the noose, recently targeting the use of cryptocurrencies to dodge the financial restrictions imposed by the West with new legislation in Congress. Russian Crypto Experts Claim Circumventing Sanctions With Cryptocurrency Is a ‘Great Illusion’ This week, Russian authorities announced they had started developing a mechanism for cross-border settlements with crypto assets, with the goal to reduce the sanctions pressure on the Russian economy and trade. The Ministry of Finance said that a bill legalizing such transactions has been agreed upon with the Central Bank of Russia. Moscow is now in a rush to adopt regulations for the issuance, circulation, and various operations with digital currencies, particularly payments for imports and exports restricted by Western sanctions over its invasion of Ukraine. Meanwhile, the House of Representatives of the U.S. Congress approved a new bill with measures aimed at curbing the use of cryptocurrencies to circumvent them. On this backdrop, experts with knowledge of the industry have shared with Russian media their opinions on how realistic it is to…

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Super Typhoon Noru Slams Into the Philippines, Leaving 5 Rescuers Dead

MANILA, Philippines — Typhoon Noru blew out of the northern Philippines on Monday, leaving five rescuers dead, causing floods and power outages and forcing officials to suspend classes and government work in the capital and outlying provinces. The most powerful typhoon to hit the country this year slammed into the coast in Burdeos town in Quezon province before nightfall on Sunday then weakened as it barreled overnight across the main Luzon region, where thousands of people were moved to emergency shelters, some forcibly, officials said. Read more: The Philippines Is the Most Storm-Exposed Country on Earth Gov. Daniel Fernando of Bulacan province, north of Manila, said five rescuers, who were using a boat to help residents trapped in floodwaters, were hit by a collapsed wall then apparently drowned in the rampaging waters. [time-brightcove not-tgx=”true”] “They were living heroes who were helping save the lives of our countrymen amid this calamity,” Fernando told DZMM radio network. “This is really very sad.” On Polillo island in northeastern Quezon province, a man was injured after falling off the roof of his house, officials said. Aaron Favila—APA resident swims along strong waves as Typhoon Noru approaches the seaside slum district of Tondo in Manila,…

First Product From Finity Touch’s Future Ecosystem Officially Launched

press release PRESS RELEASE. Finity Touch will surprise the crypto community with its unique features and an already large but growing ecosystem. The team of Finity Touch is happy to present Finity Skills. Finity Skills is the first product of Ecosystem, which will be available in October 2022. What makes this news even more extraordinary is that the company started the development of the product just in the summer. The amount and quality of the information invested in the product are exceptional. The team understands the value of knowledge about crypto and the Web 3.0 sphere, especially with the oncoming Bitcoin halving. Finity Skills offers users more than just learning blockchain and the cryptocurrency market from scratch. After completing their education, some students will receive employment opportunities. The educational process is entirely online for their convenience. This product is suitable not only for crypto entrepreneurs planning to launch their projects during the next bull market cycle but also for crypto enthusiasts and traders. During the first several months, the reduced course price will be available for everyone; however, by the end of 2022, with the development of a platform, prices will rise. And more products are coming soon! Stay tuned…

WEF Launches Crypto Sustainability Coalition to Leverage Web3 Technologies in Climate Change Battle

The World Economic Forum (WEF) has launched the Crypto Sustainability Coalition, an initiative dedicated to assessing the role of Web3 technologies in the fight against climate change. The organization, which is composed of 30 companies, educative groups, and other institutions, will research the impact of the energy consumption of these technologies, and how they can be used to aid the current decarbonization efforts. WEF to Use Web3 to Fight Climate Change Web3, a term that groups cryptocurrency and blockchain-based technologies, is currently in the spotlight of energy groups that seek to determine if the use of these technologies is pernicious for the environment. The World Economic Forum (WEF) has decided to take these technologies into account, launching an initiative to investigate if they can be useful to the current fight against climate change. The initiative, which was announced on September 21, is called the Crypto Sustainability Coalition, and it is composed of 30 different companies, educative organizations, and other institutions interested in this issue. Among these are known cryptocurrency-linked projects, like Solana, Avalanche, Circle, NEAR Foundation, Ripple, and the Stellar Development Foundation, among others. This coalition, as part of the Crypto Impact and Sustainability Accelerator, another bigger initiative launched this…

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Total crypto market cap shows strength even after the Merge and Federal Reserve rate hike

Many of the top-80 cryptocurrencies dropped by 15%+ in the past week, but the Tether premium in Asia-based futures markets shows traders remain calm.

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Fed interest rate hike rattles the crypto market: Dig deeper with Market Talks

The Fed has once again increased interest rates by another 75 basis points. Join us as we discuss this and more with Tim Warren, co-host of Coffee N Crypto, and Yashu Gola, a Cointelegraph market analyst.

California Governor Newsom Vetoes Bill to Regulate Crypto — Calls for ‘More Flexible Approach’

California Governor Gavin Newsom has vetoed a bill to regulate crypto in his state. He stressed that “a more flexible approach is needed” to “keep up with rapidly evolving technology and use cases” in the crypto sector. Bill to Regulate Crypto in California Vetoed by Governor Newsom The governor of the U.S. state of California, Gavin Newsom, vetoed a number of bills Friday, including Assembly Bill 2269 (AB 2269) which will establish a licensing and regulatory framework for cryptocurrency. Assembly Bill 2269, titled “Digital financial asset businesses: regulation,” was introduced earlier this year by California Assembly Member Timothy Grayson. It passed the California State Senate on Aug. 29 and the California State Assembly the next day. “AB 2269 would establish a licensing and regulatory framework, administered by the Department of Financial Protection and Innovation, for digital financial asset activity,” the governor detailed, adding: Digital assets are becoming increasingly popular in our financial ecosystem, with more consumers buying and selling cryptocurrencies each year. He then referenced the executive order he issued on May 4 to create “a transparent and consistent business environment for companies operating in blockchain, including crypto assets and related financial technologies, that harmonizes federal and California laws, balances…

US Court Authorizes IRS to Issue Summons for Crypto Investors’ Records

The Internal Revenue Service (IRS) has obtained a “court order authorizing summons for records relating to U.S. taxpayers who failed to report and pay taxes on cryptocurrency transactions.” The IRS commissioner commented: “The government’s ability to obtain third-party information on those failing to report their gains from digital assets remains a critical tool in catching tax cheats.” IRS Seeks Crypto Investors’ Records From Bank The U.S. Department of Justice (DOJ) announced Thursday that the Internal Revenue Service (IRS) has obtained a “court order authorizing summons for records relating to U.S. taxpayers who failed to report and pay taxes on cryptocurrency transactions.” U.S. District Judge Paul G. Gardephe entered an order on Sept. 22 “authorizing the IRS to issue a so-called John Doe summons requiring M.Y. Safra Bank to produce information about U.S. taxpayers who may have failed to report to the IRS, and pay taxes on, cryptocurrency transactions,” the DOJ detailed, noting: Specifically, the IRS summons seeks information about customers of SFOX, a cryptocurrency prime broker, who used banking services that M.Y. Safra Bank offered to SFOX customers engaged in cryptocurrency transactions. SFOX is a cryptocurrency dealer and trading platform with over 175,000 registered users who have collectively transacted cryptocurrencies…

Jihan Wu-Backed Crypto Miner Bitdeer Acquires ‘Singapore’s Fort Knox’ for $28.4 Million

Sources have disclosed that the digital currency mining operation, Bitdeer Technologies, has purchased a high-security storage and display facility in Singapore called Le Freeport for $28.4 million. Bitdeer’s chairman, Jihan Wu, confirmed the vault acquisition via a text message following the reports that revealed the mining firm purchased Le Freeport. Bitdeer Purchases Maximum Security Vault Le Freeport From Yves Bouvier, DBS After the co-founder of Bitmain Technologies Jihan Wu left the company, he co-founded a firm called Matrixport and he’s also the chairman of Bitdeer Technologies. According to a report published by Bloomberg, that cites sources familiar with the matter, Bitdeer paid S$40 million ($28.4 million) for the maximum security vault known as Le Freeport. The vault was originally constructed to be similar to the high-security storage vaults located in Luxembourg and Geneva. Freeport has also been dubbed “Singapore’s Fort Knox for fine art and collectibles.” Freeport was originally built for S$100 million and the latest acquisition by Bitdeer paid off a significant amount of debt to creditors like DBS and the vaults former owner Yves Bouvier. Le Freeport Singapore interior. Photo courtesy of SGPMX. The vault has been for sale since 2017, and the high-security storage facility has had…

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Italy’s far right set to win election – exit poll

Giorgia Meloni is on course to become Italy’s first female PM, exit polls say.

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Typhoon Noru: Evacuations in Philippines as explosive super typhoon nears

By Laura Bicker in Manila and Elsa Maishman in London BBC News 3 minutes ago About sharing People in vulnerable areas have been evacuated as the super typhoon approaches. Thousands of people have been evacuated and government offices have been closed as a a super typhoon bashes the Philippines eastern islands. Typhoon Noru has caused gusts of up to 240kph (149mph) on the main island Luzon, where more than half of the country’s 110 million population live. Forecasters say the storm experienced an “explosive intensification” as it made landfall west of Luzon. The storm could cause landslides, flash flooding and dangerous storm surges. More than 8,400 people have already been evacuated from its path, and officials have issued warnings of “serious flooding” in areas of the capital, Manila. The storm’s speed increased by 90 km/h in 24 hours. Weather forecaster Robb Gile told news agency AFP that its increased speed was “unprecedented”. The Philippine weather service has issued a wind signal five for Luzon, the highest warning level which marks Noru as a super typhoon. Richard Gordon, chairman of the Red Cross in the Philippines, told the BBC that heavy rainfalls had filled many of the country’s dams, leading to…

Ethereum Classic Hashrate Slides 46% Since The Merge, PoW ETH Forks Gather Double-Digit Gains

The day of The Merge, Ethereum Classic’s hashrate soared to new highs tapping 306 terahash per second (TH/s) ten days ago on September 15. Since then, however, Ethereum Classic’s computational power has dropped 46.16% lower from the high to today’s 164.75 TH/s. Furthermore, ethereum classic’s market valuation has dropped by two positions and lost 26.7% against the U.S. dollar during the last two weeks. Ethereum Classic’s Hashrate and Price Sinks, While the 2 New PoW Ethereum Forks Jump Higher in USD Value After Ethereum transitioned from proof-of-work (PoW) to proof-of-stake (PoS) the lion’s share of Ethereum’s hashrate moved over to the Ethereum Classic (ETC) network. Data from 2miners.com shows ETC’s hashrate jumped to an all-time high on September 15, 2022, the day of The Merge. That day, ETC’s computational power reached 306 TH/s after climbing 482.85% higher than the 52.5 TH/s recorded on September 12. Six days beforehand, ETC’s price tapped a high of $41.80 per unit on September 6. Both ETC’s USD value and computational power are down today after reaching record highs just prior to The Merge. Ethereum Classic (ETC) hashrate on Sunday, September 25, 2022. Today, data indicates that ETC’s overall hashrate is 164.75 TH/s, which is…

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Russian Exodus Grows Amid Fears Kremlin May Restrict Borders for Mobilization-Eligible Men

Russian men and their families flooded to the border over the weekend as speculation grew that the Kremlin may bar mobilization-eligible men from leaving the country. Witnesses reported hours-long lines at the main airport in Moscow and at land crossings into Kazakhstan and Georgia as reports spread that those subject to the call-up may be banned from leaving as soon as this week. The government sought to assure people that the rules of the “partial” mobilization that President Vladimir Putin declared Sept. 21 would be enforced after stories of ailing, old or otherwise exempt people being conscripted went viral on social media. [time-brightcove not-tgx=”true”] Putin late Saturday decreed a deferral for some students at state vocational schools and universities, after the Defense Ministry’s assurances failed to calm the public. Vyacheslav Volodin, the speaker of the lower house of parliament, on Sunday promised an “individual” approach to each complaint received, reiterating assurances from some regional governors. But the Federal Security Service, or FSB, has begun stopping men from leaving the country on the orders of military commissariats, Russian lawyer Pavel Chikov, who advises on conscription cases, said in his Telegram channel Sunday. He posted photos of two notices handed out at…