Russia Set Legal Framework to Issue State Cryptocurrency
The Russian Duma, the lower house of Russia’s Federal parliament, will reportedly debate and adopt a law on cryptocurrency. Accrding to Igor Yusuf, one of Russia’s retired Energy Ministers, the law will provide a legal basis to create a cryptocurrency. Yusuf speculates that Russia could back the digital currency with its oil reserves or even with Co2 emissions.
Thailand Regulates Tokenized Securities
Thailand will set the legal framework for tokenized securities. The law will amend the existing law of the Securities and Exchange Act to include tokenized securities. The main issue was to set the requirements and regulations for companies that want to issue security tokens.
However, the Thai SEC has yet to elaborate its regulatory framework. Therefore, the law amendment will set into force later this year.
Cryptocurrency Market Volumes Surges Ahead Of A Rally
Cryptocurrency prices are steadily retracing after a prolonged period of a devastating bearish cycle. Despite the steady retraction, daily volumes have spiked to a level last recorded in April 2018. This is an indicator that more investors are participating in the Digital Token market and a widespread market rally is about to break out.