The cryptocurrency community is demonstrating unprecedented support for the newly elected U.S. President. Leading companies in the industry have announced significant donations for the upcoming inauguration of Donald Trump and J.D. Vance, scheduled for January 20.
Among the largest donors is Ripple, a digital payments company whose CEO, Brad Garlinghouse, announced a $5 million donation in XRP cryptocurrency. Other industry leaders are not far behind: the cryptocurrency exchange Kraken and fintech startup Ondo Finance Inc. have each pledged $1 million to the inauguration fund.
Particularly noteworthy is the position of Coinbase Global Inc., which donated $1 million to the Trump-Vance inaugural committee even before the election results were announced. According to Kara Calvert, Coinbase's Vice President for U.S. Policy, this decision reflects the company's desire to establish a constructive dialogue with the incoming administration to create a clear regulatory framework for the cryptocurrency sector.
This election cycle has been marked by record-breaking activity from the cryptocurrency sector in political financing. According to the analytics platform OpenSecrets, just three affiliated super PACs contributed an impressive $133 million to the election campaign. The primary contributors were Coinbase Global Inc., Ripple, and Jump Crypto.
Generous donors to the inauguration will be granted special privileges, including participation in an exclusive reception with the Cabinet, attendance at a Sunday worship service, and the inaugural ball. Calvert emphasized: "We are ready to work with the most pro-crypto administration in U.S. history to shape the future of digital assets in America."

#Cryptocurrency #Blockchain #Regulation #PoliticalDonations #Ripple

The Russian government is considering delaying plans to regulate cryptocurrencies until 2025 due to other priorities held by the country's decision-making bodies.

Anatoly Aksakov, the chairman of the State Duma Committee on Financial Markets, expressed the view that "the legalization of cryptocurrencies in the Russian Federation is only a matter of time." However, he admitted that "appropriate legislative proposals" might not be adopted until between 2024 and 2025, which could be too late for some.
Priority on other fronts
Russia's efforts to regulate cryptocurrencies continue to face challenges. Recently, a representative of the domestic anti-money laundering regulator, Rosfinmonitoring, urged the Kremlin to expedite the cryptocurrency regulation process. Russia also grapples with a decline in its rating of compliance with cryptocurrency regulation by the Financial Action Task Force (FATF).
Although the central bank previously proposed a blanket ban on cryptocurrencies, ministries such as energy and finance are leaning towards regulating and taxing cryptocurrencies instead. This situation leads to uncertainty that Russia cannot afford for long, especially as local companies already actively use cryptocurrencies in international trade, and Russian cryptocurrency mining continues to grow despite lacking legal regulation.
While some media outlets report that up to 29% of Russians aged 22 to 44 own cryptocurrencies, the government estimates that about 10% of citizens have cryptocurrency wallets. However, it seems that lawmakers and regulatory bodies prefer to prioritize other projects, such as pilot programs and legislation related to digital financial assets and the digital ruble, which is Russia's central bank digital currency (CBDC).
Despite appearing calm, Aksakov plans to address Russian cryptocurrency regulation in a timely manner. Politicians seem to agree on utilizing blockchain technology, and discussions of banning cryptocurrencies have ceased. Nevertheless, the recent lack of a legal framework for cryptocurrency mining means the state treasury loses "billions of rubles in tax revenue each year."
#crypto #regulation #Russia

Notice:
,,The information and views presented in this article are intended solely for educational purposes and should not be taken as investment advice in any situation. The content of these pages should not be regarded as financial, investment, or any other form of advice. We caution that investing in cryptocurrencies can be risky and may lead to financial losses.“

The Argentine government is set to introduce regulations for cryptocurrency service providers through an executive order. The aim of this move is to prevent the country from landing on the grey list of the Financial Action Task Force (FATF) and to ensure that cryptocurrency service providers are supervised by Argentina's securities regulatory authority.
Executive order targets crypto service regulation
Under this order, President Javier Milei is expected to issue a special decree establishing rules for operating cryptocurrency service providers under the supervision of the National Securities Commission (CNV). This step follows concerns about Argentina's potential inclusion on the FATF grey list, which occurred between 2010 and 2014 due to ineffective anti-money laundering policies. The anticipated FATF inspection is expected to assess Argentina's anti-money laundering measures and support this new regulation.
New obligations for crypto service providers
According to the proposed decree, all cryptocurrency service providers would need to obtain a license from Argentina's cryptocurrency regulatory authority and register with it, even if they are not physically present in Argentina. Additionally, they would be required to provide information to Argentine financial intelligence in accordance with anti-money laundering laws, including the obligation to prepare risk reports and report suspicious transactions.
Implications for cryptocurrency ecosystems
This regulation could lead to market consolidation in the cryptocurrency sector, as larger providers would likely be able to meet the new requirements immediately. On the other hand, small exchanges and peer-to-peer (P2P) platforms could come under pressure due to their limited ability to comply with the newly established rules.
Deadline for issuing the executive order
The planned issuance of the executive order is set before March 6, when a FATF delegation is expected to visit Argentina. The purpose of this visit will be to assess the effectiveness of anti-money laundering measures implemented by the country since the last evaluation.
#regulation #crypto #Argentina  
 
 
Notice:
,,The information and views presented in this article are intended solely for educational purposes and should not be taken as investment advice in any situation. The content of these pages should not be regarded as financial, investment, or any other form of advice. We caution that investing in cryptocurrencies can be risky and may lead to financial losses.“