This Week In Crypto

  • Bank of Russia to set up entities for crypto mining. The head of the central bank, Elvira Nabiullina, announced that the Bank of Russia would allow cryptocurrency to be used in external settlements in a pilot program. The move, however, does not signal a change in the country's crypto environment. This bill is also being prepared in the form of an experimental legal regime.
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  • Euro-pegged stablecoin to launch on Ethereum. Societe Generale's crypto arm, Forge, announced plans to launch a euro stablecoin, "CoinVertible," on the Ethereum blockchain. CoinVertible will offer "robust" settlement options for on-chain transactions, on-chain liquidity, and a solution for intra-day liquidity needs, such as margin calls.

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