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Binance trial in Nigeria postponed

A Nigerian court has postponed the tax evasion trial against the Binance cryptocurrency exchange and two of its top managers until May 17. This is reported by the local edition of Business Day.

On February 25, Nigerian law enforcement officers detained Tigran Gambaryan, Vice President for Global Intelligence and Investigations of the platform, and Nadim Anjarwalla, director of the exchange in West and East Africa. In March, the latter escaped from custody and illegally left the country.

The reason for the postponement of the trial was the lack of official charges against Binance from the Federal Tax Service of Nigeria. The department's lawyer said that Gambaryan should face charges on behalf of the exchange.

Exline: An excursion into the world of cryptocurrencies – the boundaries are only in your imagination

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Miners will enter the artificial intelligence industry — CoinShares

Last weekend, the cost of mining a block on the Bitcoin network decreased by half, and operating costs increased. According to CoinShares experts, in order to stay afloat, some companies will leave to look for alternative sources of income in the artificial intelligence segment.

James Butterfield, lead author of the CoinShares report, suggests that bitcoin mining may gravitate towards locations with hard-to-access resources. And investments in artificial intelligence will flow to where stable energy sources are located.

This strategic shift will help alleviate the financial strain caused by the holding, as miners will seek to optimize energy costs, increase production efficiency and invest in cost-effective equipment.

Exline: An excursion into the world of cryptocurrencies – the boundaries are only in your imagination

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The Central Bank of the Russian Federation will be allowed to experiment with cryptocurrency

A new bill has been submitted to the State Duma that will allow the use of cryptocurrency in international settlements. If it is accepted, the Central Bank will start creating an experimental platform for working with cryptocurrency from September 1, 2024.

In fact, the new version of the bill differs little from the previous one. There are no specific mechanisms for payments or regulation of cryptocurrency turnover in international settlements. These issues will be resolved by the Central Bank. He received additional powers to create experimental legal regimes (EPR) on cryptocurrency, but must coordinate all stages of the experiment with Rosfinmonitoring, the FSB and the Ministry of Finance.

The bill will circumvent bans on the use of digital currency as a "currency value" and a means of payment for foreign trade contracts.

The experimental regime will allow exporters to legally sell their products on world markets for cryptocurrency.

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The launch of Ethereum-based spot ETFs will be postponed again. What has changed

The British bank Standard Chartered Bank has changed its forecast for the timing of approval by the U.S. Securities and Exchange Commission (SEC) of spot ETFs on Ethereum, CoinDesk reports.

Earlier, the bank expected a positive decision on the Ethereum-ETF by May 23. The revision of the forecast is due to the lack of active dialogue between the U.S. Securities and Exchange Commission (SEC) and potential issuers of ETFs on Ethereum.

On Tuesday, April 23, the SEC postponed a decision on applications for the launch of spot exchange-traded funds for Ethereum from Franklin Templeton and Grayscale on June 11 and June 23, respectively. Earlier, on March 19, the SEC announced the postponement of decision-making on the Ark 21 Shares and Hashdex ETFs with deadlines until May 24 and 30. Last month, Bloomberg senior ETF analyst Eric Balchunas lowered the probability of an Ethereum ETF approval to 25%. A similar opinion is shared by Alex Thorne, head of research at Galaxy Digital, who called the approval of an ETF for Ethereum in May "extremely unlikely."

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Five Russian banks have started test tracking of bitcoin transactions

The Central Bank of the Russian Federation, Rosfinmonitoring and five large banks are implementing a pilot to establish links between fiat and cryptocurrency transactions of users. This is reported by RBC with reference to the statement of Ilya Bushmelev, Director of Project Portfolio Management at Innotech.

The new service "Know your crypto client" is designed to train credit institutions to identify cryptocurrency transactions carried out by customers. Among the tools used is the "Transparent Blockchain" from Rosfinmonitoring. Testing will continue until the end of May, but may be extended indefinitely depending on the results.

"As a result of the pilot, a basic understanding of the necessary actions and tools for credit institutions in terms of conducting crypto compliance, the "Know your crypto client" and "Know your cryptotransaction" procedures should be formed," Bushmelev noted.

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Stripe Resumes Crypto Payments after a Six-Year Hiatus

Stripe payment service is returning to cryptocurrency payments. The platform will start accepting USD Cad (USD) stablecoin in three networks: Solana, Ethereum and Polygon

In 2018, Stripe abandoned crypto transactions due to the volatility of bitcoin (BTC). Six years later, the platform decided to resume operations with digital assets.

Simultaneously with the return of crypto payments, Stripe has revealed a long list of other innovations that await the service. The most notable was the ability to integrate competing payment systems into the platform's financial services package.

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