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Russia and Iran Partner on Stablecoin Initiative
Russia and Iran are reportedly working together to create a gold-backed stablecoin.
according to According to Russian news agency Vedomosti, Iran is working with Russia to create a “Persian Gulf Region token” that will serve as a payment method in foreign trade.
Russia recently started accepting shipments from Iran in a special economic zone called Astrakhan. The proposed cryptocurrency will help facilitate trade in the region.
Russia and Iran are among the countries that have banned the trading of cryptocurrencies such as Bitcoin and Tether, but Russia’s lower house of parliament recently announced a promise to start regulating cryptocurrencies again in 2023.
Russian parliamentarian Anton Tkachev, a member of the Committee on Information Policy, Information Technology and Communications, stressed that a joint stablecoin project would only be possible once the digital asset market is fully regulated in Russia.
Bitcoin back in business?
Bitcoin soared above $21,000 on January 13 and crossed $21,500 on Wednesday. Soaring gains now demand the attention of Bitcoin skeptics, begging the question: Where will Bitcoin go from here?
While technically still in a bear market, investor sentiment is improving. Investor sentiment for the market hit a monthly high, according to the Fear and Greed Index, a crypto-specific metric that measures sentiment using five weighted sources.
However, many analysts stress that Bitcoin must continue above the 21K mark in the past few weeks before sentiment becomes bullish.
Coinbase suspends operations in Japan
Due to domestic trading slump, Coinbase has suspended its operations in Japan.
The cryptocurrency exchange originally started planning its expansion in Japan during the 2018 bear market. Now, with the impact of FTX still impacting the entire market, Coinbase has decided to reorganize and suspend operations in Japan.
coinbase official announced The company announced on Jan. 18 that it was terminating its operations in Japan, citing market conditions, and completely reviewing its operations in Japan.
All Coinbase Japan customers can withdraw their fiat and cryptocurrency holdings from the platform by February 16th. After February 17th, the remaining crypto assets held by Coinbase Japan customers will be converted to Japanese Yen. According to CoinTelegraph, fiat deposits will no longer be available starting Jan. 20.
New Report Names “Crypto Valley” Most Mature Blockchain Hub
of CV VC Top 50 Report 2022 The announcement was made today at Davos, demonstrating that the Crypto Valley, which includes Switzerland and Liechtenstein, is the most mature blockchain hub.
The regulatory jurisdiction and the resolutely decentralized mindset exhibited by the 1,135 entities built from it continued its steady expansion in 2022.
CV VC Top 50 Report 2022 shows that blockchain is developing into a multi-billion dollar industry in Crypto Valley.