News Commentary #1,597 – DollarBill | Russian View On Crypto And $11 Billion In Criminal Crypto Activity ..?

This time, you are presented with two updates from the DollarBill (reviewed here) platform, which keeps inform its members of around-the-globe news, this way (together with all payouts in time) being working rather active.

I think that investors and members will appreciate this approach to work from team behind this investment platform. As you know – the more stability – the more benefits for everyone involved. 

Let’s read more in details below:

Russian Government and Central Bank Take Opposing Views on Crypto

The Russian government and its central bank have conflicting views over the legality of crypto and are attempting to form a unified stance. The government believes that regulating crypto could boost foreign investment and help monitor the market, while the central bank believes there are too many risks involved.

Russian authorities are struggling to come up with a unanimous stance on the crypto asset class, according to a report by Bloomberg, which managed to see a letter between the country’s Finance Minister Anton Siluanov and Prime Minister Mikhail Mishustin.

The Russian government is looking to legalize cryptocurrencies in a bid to attract foreign investment, while the central bank is taking a negative stance and saying that they will be used for illegal activities. So far, it does not seem like the two groups are not able to reconcile on the matter.

 

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Illicit crypto wallets hold over $25B as hacks, thefts mushroom

Major criminal wallets hold over $25 billion in cryptocurrency, new data showed on Wednesday, with the majority of illicit funds coming from theft with criminals engaged in increasingly brazen activities involving digital tokens.

Following last week’s seizure by the U.S. Department of Justice of $3.6 billion in Bitcoin (BTC-USD) stolen from a 2016 hack against crypto exchange Bitfinex, blockchain analysis firm Chainalysis found more evidence showing illicit cryptocurrency flows.

Funds from illicit sources surged from $3 billion in 2020 to $11 billion of funds, with theft accounting for 93% of those balances, or $9.8 billion in cryptocurrency, the firm found. During the same period, however, Chainalysis estimated that total criminal activity made up a scant 0.15% of all blockchain economic activity.

“The highest net worth criminals have murky networks of foreign banks and shell corporations to obfuscate their holdings.

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