2021-12-17 15:09:10
COIN BUREAU NEWSFLASH! – (17/12/21)
Here are some of today’s most important headlines:
Binance’s American wing, Binance.US, has hired a very impressive risk officer in the form of Sidney Majalya. Majalya has a wealth of experience at Intel Corp. and Uber too.
He expects his time at Binance to be altogether different from his experience at other traditional companies. Binance has come under regulatory fire the world over, despite establishing itself as the world’s leading centralised cryptocurrency exchange.
According to Majalya, Binance “Is not a company where I have to come in and do convincing about the importance of compliance”. The world’s biggest exchange certainly knows that appeasing regulators is going to play a crucial part in the long-term success of the organisation. This is especially the case if Binance’s plans to go public are to be realised in the coming years.
After former Comptroller of the Currency during the Trump administration, Brian Brooks, stepped down as CEO over “differences over strategic direction”, Binance hired Brian Shroder, who also has serious experience at Uber. I wonder if this related in any way to the appointment of Sidney Majalya.
https://www.bloomberg.com/news/articles/2021-12-16/binance-us-hires-intel-s-majalya-as-first-chief-risk-officer
According to a recent survey, President Bukele of El Salvador, has maintained high approval ratings despite some public disagreement over his decision to make Bitcoin legal tender in the country, earlier this year.
According to a Salvadoran paper, Bukele’s overall approval stands at 85.1%! Imagine what UK or US politicians would do for similar levels of faith from the electorate. Of those that did not approve, only 11.7% actively disapproved and 3.2% did not deign to answer.
Bukele’s executive decision to make the world’s largest cryptocurrency legal tender in the nation has been criticised by the IMF, World Bank and JP Morgan too. However, some 9.6% of El Salvadorans dislike the move too, making it his least popular major decision.
It’s possible that this disapproval of the policy is partly caused by the problems encountered regarding the Bitcoin wallet that was introduced. The wallet has seen issues ever since its inception…
https://decrypt.co/88546/el-salvador-president-nayib-bukele-unpopular-bitcoin-law
Putin and the Russian government are set to reach a major decision regarding the future of cryptocurrencies, blockchain and digital assets in the country. There have been conflicting reports this week about exactly what that decision will entail.
A report by Reuters seems to suggest that a blanket ban may be applied to cryptocurrency in Russia, with the possibility of it causing financial instability seen as the cause. Indeed, at an investment forum in the Russian capital, Putin pointed out the “high risks” associated with digital assets
That said, Anatoly Aksakov, chairman of the Russian Parliamentary Committee on Financial Markets, had the following to say, earlier this week:
“There exists a very tough approach about the complete prohibition of cryptocurrencies, such as acquisition or ownership. There exists an approach where there must be appropriate crypto exchanges, where everything is legalized, transparent, and understandable to regulatory bodies. It would be easier for the Federal Tax Service of Russia to tax such [exchange] transactions.”
I will certainly be keeping an eye on political sentiment around cryptocurrencies in Russia. Based on the above comments, it seems it could go either way
https://cointelegraph.com/news/russia-to-decide-between-blanket-crypto-ban-and-legalizing-exchanges-in-2022
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