Starting next year, the Russian government has sanctioned a list of regions and territories where cryptocurrency mining will be prohibited.
Here are the latest updates from the crypto world
Starting next year, the Russian government has sanctioned a list of regions and territories where cryptocurrency mining will be prohibited.
According to a report by the local news agency TASS on December 24, crypto mining will be completely prohibited in ten Russian regions for six years, beginning on January 1, 2025. This ban will stay in place until March 15, 2031.
Russian legislators have also sanctioned seasonal limitations in major cryptocurrency mining areas to avert power outages.
The limitations are in accordance with Russia's cryptocurrency mining regulations, which were signed by the president in August and October 2024.
Crypto.com has introduced an institutional cryptocurrency custody service in the United States as part of its broader strategy to expand its footprint in the country, the crypto exchange announced on Dec. 23.
Named Crypto.com Custody Trust Company, the chartered trust is authorized to hold assets for US institutions and high-net-worth individuals, according to Crypto.com.
Digital assets belonging to Crypto.com’s customers in the US and Canada will be transferred to Crypto.com Custody Trust Company “over the coming weeks,” the exchange stated.
“This move demonstrates our confidence in the North American market,” said Kris Marszalek, CEO of Crypto.com, in a statement. It also supports Crypto.com’s plan for “growing our business and presence in two of the most significant and active crypto markets globally — the US and Canada,” Marszalek added.
According to the Malaysian Securities Commission’s website, Malaysia’s securities regulator has included Atomic Wallet, a Web3 wallet service, on the list of financial firms banned from operating in the country.
Atomic Wallet was flagged for “operating a digital asset exchange (DAX) without registration,” according to the website.
The regulator did not provide additional details, but Atomic Wallet was hacked for over $100 million in 2023 and has faced lawsuits since then.
It adds to the list of cryptocurrency-related companies that the commission has prohibited from operating in the Asian country, such as Crypto Trade Malaysia and Best Exchange.
Atomic Wallet promotes itself as a safe, decentralized, and anonymous cryptocurrency wallet that allows staking and exchanging of over 100 digital assets.