digital assets

The Central Bank of Russia tightens regulations on digital assets and implements stricter standards for foreign exchange business supervision

ChainCatcher news, the Central Bank of Russia has introduced regulations to manage foreign exchange operations involving digital rights. According to Russian law, digital rights include electronic records such as cryptocurrencies, tokenized securities, and digital tokens. These rights represent claims or obligations related to assets or services. The new decree will take effect on January 11 and outlines the obligations of residents engaged in such transactions, aiming to clarify and strengthen the oversight of digital assets used for trade and payment purposes.A key requirement outlined in the regulation is that foreign trade contracts involving digital rights settlements must be registered with authorized banks. The document states: "Foreign trade contracts, including those settled using digital rights, must be registered with authorized banks. The registration thresholds for these contracts remain unchanged: import contracts exceeding 3 million rubles and export contracts exceeding 10 million rubles."In addition to registration, the Central Bank of Russia also explained: "The regulation specifies the documents and information that residents must provide to banks, including transaction data related to the transfer or receipt of digital rights as a means of payment under foreign trade contracts, as well as data related to other foreign exchange operations involving digital rights."By defining these requirements, the Central Bank of Russia aims to integrate digital rights into the broader financial system while reducing the risks associated with their use.

Hong Kong Legislative Council member Wu Jiezhuang advocates for the promotion of "Digital Pass" to allow mainland investors to buy and sell digital assets recognized by Hong Kong

ChainCatcher news, according to Hong Kong Wen Wei Po, Hong Kong Legislative Council member and chairman of the Web3 and Virtual Assets Development Task Force, Wu Jiezhuang, stated that regarding how the Hong Kong virtual asset market can serve the needs of the country in the future, it is possible to explore the introduction of a "Digital Pass," which would open a special channel allowing mainland investors to buy and sell digital assets recognized by Hong Kong. This would further enrich the connotation of connectivity between the mainland and Hong Kong, while also benefiting financial innovation and cultivating new productive forces.The mainland prohibits cryptocurrency trading; however, under "one country, two systems," cryptocurrency trading in Hong Kong is legal. Similarly, while gambling is banned in the mainland, it is legal for mainland citizens to gamble in Macau. Therefore, Wu Jiezhuang believes that the connectivity of financial markets between the mainland and Hong Kong, and whether to allow mainland citizens to invest in virtual assets recognized by Hong Kong in the future, will mainly depend on the overall development of the international situation. He believes that the mainland will adjust its policies in a timely manner. Currently, the United States is actively embracing digital assets, and the mainland also places great importance on developing the digital economy, viewing it as a new productive force. The SAR government is also listening to the voices of the industry and embracing the new track of the digital economy.

Survey: American investors' recognition of digital assets has significantly increased, with 29% of respondents considering cryptocurrency as a long-term retirement strategy

According to ChainCatcher news, as reported by Crowdfund Insider, the results of the 2024 Crypto Literacy Survey released by Crypto Literacy show a significant increase in respondents' recognition of digital assets. The survey found that 98.6% of respondents who consider themselves knowledgeable own cryptocurrency, while only 32% of respondents own cryptocurrency with limited understanding. Key findings of the survey include:Respondents with advanced knowledge are three times more likely to own cryptocurrency than those with limited knowledge, with 31.8% of respondents indicating a deep understanding of cryptocurrency, a significant increase from 11.0% in 2022;29% of respondents view cryptocurrency as a long-term retirement strategy, while 22% use it for daily trading;59% of respondents believe that regulatory clarity is the most important task for the new government;The proportion of respondents who consider cryptocurrency "extremely dangerous" has decreased from 43.1% to 35.2%, with more people viewing it as "some kind of risk" or "neutral"; 26.6% of respondents still have doubts about the source of cryptocurrency's value;Only 22% of respondents correctly identify the importance of private keys, 14% understand the functions of DeFi, and 9% know the role of staking in the blockchain ecosystem.The survey was conducted in October 2024, with 670 U.S. respondents participating, covering various ages, genders, and income levels, aiming to provide actionable insights for education and policy initiatives.
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