National Cryptocurrencies (CBDC)
Main article: National Cryptocurrencies (CBDC)
Cryptocurrencies
- Barca Fan Tokens ($BAR)
- Bitcoen Kosher cryptocurrency
- BitTorrent (cryptocurrency)
- Kodakcoin (cryptocurrency)
- MobiCoin (cryptocurrency)
- MUFG Coin (cryptocurrency)
- RBI Coin (cryptocurrency)
- Venus (cryptocurrency)
- Wells Fargo Digital Cash (cryptocurrency)
- XSGD (digital currency)
Stablecoins
Main article: Stablecoin
Stablecoins are cryptocurrencies whose value is tied to a particular fiat currency (that is, the usual currency - dollar or euro) or physical asset (for example, gold).
- Stablecoin (Norilsk Nickel cryptocurrency) - metal supply
- Tcoin (cryptocurrency) - metal provision
Closed currencies
In the first 9 months of 2022, more than 12 thousand cryptocurrencies practically stopped trading. Since 2021, their number has increased 3 times. Many of these projects are still alive, but of no interest to investors. Because of this, their coins, if trading on them for a month does not show volumes, were nicknamed zombie coins.
Cryptocurrencies in countries around the world
- Cryptocurrencies in Russia
- Cryptocurrencies in Ukraine
- Cryptocurrencies in Belarus
- Cryptocurrencies in Kazakhstan
- Cryptocurrencies in Uzbekistan
Cryptocurrency exchanges
Main article: Cryptocurrency exchanges
Cryptobanks
Main article: Crypto banks
Mining cryptocurrencies
Main article: Cryptocurrency mining
Cryptocurrency fraud
Main article: Cryptocurrency fraud
Dependence on cryptocurrencies
Main article: Dependence on cryptocurrencies
Investments in cryptocurrencies
Cryptocurrencies have no fundamental value, this is just a tool for speculation
- Behind cryptocurrency there are no cash flows as much as behind real assets (shares and bonds) in the form of interest payments or dividends. Behind cryptocurrency are not unique technological solutions, brand strength or formed business processes in the form of competition over the years as much as for real business.
- The belief that cryptocurrency is a protection against inflation is pure fiction, because behind the stability of cryptocurrency is not an attempt to protect against inflation, but a speculative essence of the strength of liquidity.
- Interest in cryptocurrencies lasts as long as this interest is supported by open interest, the influx of fresh money and trading turnover.
- Cryptocurrencies are a trap for "hot and stupid" money, i.e. excess liquidity that is not applied in the real world. Cryptocurrencies are primarily attracted by speculation, not the search for "fundamental value," which is not and never has been.
- Cryptocurrencies are the result of concentrated open interest, expressed in the desire to buy and sell a huge number of people.
- Cryptocurrencies, as a financial asset, have become popular in the era of monetary rabies and excess liquidity and the more they expand, the more bad money in the system.
Cryptocurrency ETFs
Main article: Cryptocurrency ETFs
DeFi
Main article: DeFi (Decentralized Finance)
Decentralized finance, or DeFi, is a financial instrument in the form of services and applications built on the blockchain. The main task of decentralized finance is to become an alternative to the banking sector and replace the traditional technologies of the current financial system with open source protocols. That is, to open up to a large number of people access to decentralized lending and new investment platforms. And allow them to receive passive income from cryptocurrency assets, as well as save on commissions for transfers, loans and deposits.
ICO
Main article: ICO (Initial Coin Offering)
Initial Coin Offering is a mechanism for raising funding for projects or companies in order to develop and release a product (service) to the market. Attracting investments occurs in cryptocurrency (bitcoins, ether, lightcoins, etc.). Unlike the IPO (public offering), the process of placing tokens is not regulated: almost no financial investments are required to carry it out, there are no minimum requirements for the issuer, audit and other related IPO procedures.
An analogue of trading in shares on IPO the cryptocurrency market opened up a new opportunity for investors to increase their investments hundreds or even thousands of times. At the same time, at the initial stage, digital coins are extremely cheap.
Problem
There are also a lot of startups looking to make money on ICOs. According to Blackmoon estimates, by the end of 2017, about a thousand ICOs will take place in the world. At the same time, no one gives guarantees - the industry is not yet regulated at the state level. As a result, among the projects there are scammers who take money from investors and simply disappear. And there are also unprofessional teams, perhaps well-intentioned, but with no relevant experience to successfully implement the project. The ICO market is very risky: you can make good money on it and lose everything.
Decision
First, consultants are already working here to help you choose the right project for your investment. Secondly, this can be done on your own by analyzing this or that project for its viability. It is important to assess the stage of its development at the time of ICO. If this is just a raw idea, then the risks are great. If an existing or successfully tested project, there are much more chances to earn money. The second is the idea itself: how relevant and viable it is, how much the project will be in demand in real life. It is also important to have a thoughtful business plan: why the project needs this money, how it will spend it and how much it will earn. The professional team that this business plan can bring to life is also important. These should be specialists not only in the world of IT and their startup, but also in business, economics and finance.
Cryptocurrency millionaires
Main article: Cryptocurrency millionaires
2023: Cryptocurrency venture capital funding falls to lowest level since 2020
In the second quarter of 2023, cryptocurrency venture financing fell to its lowest level since 2020, according to PitchBook.
2022: Institutional investors increasingly turn their attention to cryptocurrency
Amid the events of the last two to three years investors , they are looking for new opportunities to earn money: the consequences pandemics COVID-19 and geopolitical risks are pushing them to find new markets, and many of them are seriously considering cryptocurrencies. This situation is observed not only in Western, countries but also in - Russia if the regulation bill is loyal and allows qualified investors to legally invest in, cryptocurrency the market will see a strong inflow of funds and an increase in prices for major coins. This was announced on June 13, 2022 by Huobi Global. Representatives State Duma and are actively Ministry of Finance RUSSIAN FEDERATION working on loyal regulation of digital currencies. The deputy head of the working group on the legislative regulation of cryptocurrencies under the State Duma of the Russian Federation noted Andrei Lugovoi that the bill is being finalized and can be considered and adopted as early as 2022.
2021 clearly demonstrated an increase in interest from institutional investors: Wall Street Journal it reports that on the the American Coinbase Global crypto site, the volume of trading in institutions amounted to 1.14 trillion, dollars which is almost ten times more than a year earlier - for comparison, the volume of trading in institutions in 2020 did not exceed $120 billion.
Moreover, the volume of trading in institutions at Coinbase Global exceeded the volume of trading in retail investors by more than two times - at the end of 2021, the turnover in retail trade in crypto assets amounted to $535 billion. The rise in professional investors highlights the spread of cryptocurrencies in recent years. Starting in 2018-2019, venture capital funds invested billions in cryptocurrencies, while frustrated retail investors began to withdraw from the market during a protracted "cryptosima."
Of course, retail investors are still present in the market, but are no longer its only driving force. It is assumed that every year the number of institutional investors interested in cryptocurrency will grow, as well as the amount of invested funds. Venture funds, hedge funds, registered investment advisers, family offices and so on have entered the cryptocurrency world. The buyer of bitcoin in 2021 was the first state - El Salvador. Also in 2021, the first futures bitcoin ETFs were launched. In Russia, there are officially no institutionals investing in Bitcoin - the lack of regulatory standards affects - however, large financial companies such as Sberbank are showing high interest in cryptocurrencies and blockchain technologies.
According to to data Bloomberg Intelligence, the number of investment instruments for cryptocurrencies worldwide more than doubled - from 35 to 80 during the previous year. Assets under management at the end of 2021 grew to $63 billion, compared with $24 billion at the beginning of the year. According to a report by the analytical company Crypto Fund Research, this figure is about $69 billion.
At the end of 2021, Grayscale Investments LLC is the largest manager in the field of digital assets, and its Grayscale Bitcoin Trust is rated as the world's largest crypto fund. At the beginning of March 2022, Grayscale manages assets equivalent to more than 33 billion US dollars. Also among the largest funds are Galaxy Digital Holdings and Bitwise Asset Management. In total, according to analysts at Crypto Fund Research, there are 856 crypto funds on the market.
Among the largest corporate holders of bitcoin are MicroStrategy and Tesla. At the beginning of March, the analytical platform CoinGecko reports that Microstrategy owns about 121,000 bitcoins, Tesla - 48,000 bitcoins.
In addition to bitcoin, institutional investors are starting to pay attention to ethereum. According to a study by the American bank JP Morgan, from mid-2021, institutionals began to invest more often in ETH. One of the factors in the growing popularity of the coin is its dynamic growth, as well as the rapid development of decentralized finance (DeFi) sectors, as well as non-replaceable tokens (NFT).
It is likely that demand from investors would be even higher if physical security funds were allowed to be launched in the United States - regulation of this procedure for June 2022 is considered the most pressing issue in the industry within the United States.
American entrepreneur and star of the show "Shark Tank" Kevin O'Leary notes that many representatives of the US Senate positively assess the possibilities of regulation and want to enable institutional investors to invest in cryptocurrency instruments. According to the expert, with a positive outcome, a colossal inflow of funds into the industry can be expected on the horizon of 2-3 years.
The importance of regulation is also emphasized by representatives of trading platforms and crypto exchanges. Huobi Global also believes that the positive attitude of regulators, as well as the gradual adoption of investment laws, will open the way for even more institutional investors. For June 2022, most expect signals from supervisory authorities.
According to experts, this situation is observed not only in the United States, but also in Russia - if the regulation bill is loyal and allows qualified investors to legally invest in cryptocurrency, the market will see a strong inflow of funds and an increase in prices for major coins.
Thus, clarity in the regulation of the cryptocurrency sector will only contribute to the arrival of new institutional funds in the industry. Those investments that are being made are only a small fraction of the volume that is just waiting for a clear regulatory framework to enter promising markets. The digital economy so far is only at the very beginning of its development.
History
2024: Gold-backed aUSDT cryptocurrency launched
In late June 2024, Tether officially unveiled Alloy, a new platform to release the aUSDT cryptocurrency backed by Tether Gold Tokenized Gold (XAUT). This innovative asset is designed to combine the stability and recognition of dollar currency with the enduring value of gold. Read more here.
2023
A rating of the countries whose residents most often use cryptocurrency in everyday life has been released. What a place Russia has
India tops the global ranking of countries whose residents most often use cryptocurrency in their daily lives. Nigeria is in second place on this list, and Vietnam closes the top three. Such data are given in a study by Chainalysis, the results of which were released on October 23, 2023.
Analysts use a special methodology to assess the level of adoption of cryptocurrencies. The total volume of cryptocurrency transactions is not a fundamental indicator in the formation of the rating, since in this case the largest and richest states would be among the leaders. The authors of the study take into account how many ordinary people in a particular country use cryptocurrency in their daily lives. Data for analysis is taken from various sources.
The estimate is calculated taking into account many parameters, including population size, purchasing power, etc. Chainalysis emphasizes that there are certain errors, as many users try to hide their cryptocurrency activity by applying specialized tools. Nevertheless, the created rating allows you to get an objective idea of the popularity of digital assets in various regions of the world.
The top ten states in terms of the penetration of cryptocurrencies among the population, in addition to the above countries, included (in order of decreasing the rating), USA,, Ukraine,, and Philippines Indonesia. in Pakistan Brazil Thailand this Russia ranking is in 13th position. At the same time, the United States is leading in terms of the total volume of transactions - more than $1 trillion. This is followed by India (over $250 billion), (about Britain $250 billion), (Turkey approximately $170 billion) and Russia (slightly less than $170 billion). It is said that Ukraine and Russia, as of mid-2023, showed the largest decrease in the volume of cryptocurrency transactions on an annualized basis among all Eastern countries. Europe
The 2023 Geography of Cryptocurrency Report]
Britain's largest bank HSBC begins accepting payments for mortgages and cryptocurrency loans
==
==
==
==
==
==
==
2022
==
==
==
==
==
==
==
==
==
==
==
==
==
==
==
2021
==
==
 |  |
| | |
| | |
==
==
==
==
==
==
==
==
==
==
==
==
Cuba's government allows cryptocurrencies to be used for payments
In August 2021, the government Cubes officially allowed the use of digital currency for payments on the island, guided by "socio-economic interests." The country's central bank announced that it will soon establish new rules for handling cryptocurrency. The most popular digital currency in Cuba has become - bitcoin about 10,000 Cubans use it.
In September 2021, Cuba entered into force resolution 215 of 2021 of the Central Bank of Cuba, which regulates the use of certain virtual assets or cryptocurrencies in commercial operations.
Since cryptocurrency is officially recognized by the Central Bank, now Bitcoin and other cryptocurrencies can be used in the country for commercial transactions and investments.
The resolution also provides for the licensing of virtual asset service providers to conduct financial transactions in Cuba. To this end, the resolution defines as a virtual asset a digital representation of value that can be traded or transmitted digitally and used for payments or investments.
Footballer Messi will receive part of the salary in cryptocurrency
In early August 2021, information appeared that football star Lionel Messi in his new club Paris Saint-Germain (PSG) will receive part of the salary in cryptocurrency. Read more here.
Cryptocurrency capitalization $2 trillion
PayPal launches cryptocurrency wallet
At the end of July 2021, PayPal announced the launch of its own cryptocurrency wallet. We are talking about the creation of the so-called super application, which will support tools for working with high-yield savings accounts, investment services and other services. Read more here.
Sotheby's auction allowed cryptocurrency painting to be paid for the first time
In early May 2021, the auction house Sotheby’s announced that it would begin to accept cryptocurrency as payment at the upcoming auction the paintings of street artist Banksy "Love is in the Air." More. here
Meitu invested $90 million in cryptocurrency
In mid-March 2021, the Hong Kong company Meitu, which develops photo editing software, announced new investments in cryptocurrency. This time, the company acquired 386.08 bitcoins through its Miracle Vision subsidiary for $21.6 million and 16 thousand. Ethereum for $28.4 million. The crypto assets were purchased for cash on the open market as part of transactions completed on March 17. Read more here.
2020
Russia ranked second in the percentage of the population owning cryptocurrency
Russia ranked second in terms of the percentage of the population owning cryptocurrency. Such data at the end of 2020 were provided by analysts of the Triple A payment platform in early October 2021.
It is reported that by the end of 2020 in Russia there were about 17.4 million users of bitcoins and other digital currencies, or about 11.9% of the total number of officially registered people in the country. A higher figure was recorded only in Ukraine - 12.7% (about 5.6 million Ukrainians noticed cryptocurrency).
In third place among the countries with the largest share of citizens using cryptocurrency is located Venezuela with a result of 10.34% (2.9 million people). The top five also included Kenya and. USA
It is noted that in 2020, Ukrainians earned about $400 million from investments in bitcoins, which made Ukrainian investors one of the richest in the world in this indicator. The craze of Ukrainians with bitcoins is not limited to ordinary citizens, it was supported by civil servants of Ukraine. It is alleged that by the end of 2020, bitcoins worth more than $2.6 billion officials in Ukraine, and "the largest number of cryptocurrency owners work in city councils, the Ministry of Defense and the National Police."
From July 2019 to June 2020, Ukraine conducted cryptocurrency transactions with the world in the amount of $8.2 billion and received back cryptocurrencies in the amount of $8 billion.
As for Russia, according to Triple A analysts, cryptocurrency is one of the five most popular investment instruments in Russia with a share of 17%, ahead of gold (16%), as well as shares (10%). Data from the Paxful marketplace indicate that the P2P cryptocurrency trade in Russia in 2020 soared by 350% with an average monthly volume of transactions of $4 million.[1]
Russians earned $600 million on cryptocurrency in a year. This is the fifth indicator in the world
At the end of 2020, Russians earned $600 million on bitcoins. This is the fifth indicator in the world. Such data in June 2021 led to the analytical company Chainalysis.
The leading country in cryptocurrency income was the United States: American investors raised $4.1 billion. In second place is China ($1.1 billion), in third - Japan ($900 million), in fourth - Great Britain ($800 million).
As part of the study, analysts calculated profits based on information about deposits, withdrawals and Internet traffic on cryptocurrency exchanges. Experts stressed that earnings on digital assets are difficult to calculate due to the decentralized nature of the industry.
As prices rose, Bitcoin holders around the world sold coins to new investors. Analysts suggested that residents of the United States traded cryptocurrency at higher prices.
| | Cryptocurrency owners in almost all countries recorded the largest increase by the end of the year. It was then that American investors "broke away from the pack" and most of their profits came from activity on Coinbase, the Chainalysis report said. | |
According to the researchers, historically the highest volume of transactions with cryptocurrency is recorded in China, but at the end of 2020 it was the US crypto exchanges that received a large inflow of funds. American investors on Bitcoin in 2020 earned three times more Chinese colleagues.
Analysts also note that the development of the economy of a particular country is not always associated with the popularity of cryptocurrencies there. Thus, Vietnam in terms of profit from investments in bitcoins at the end of 2020 took 13th place ($351 million), and in terms of GDP - 53rd ($262 billion). In the first indicator, Vietnam was ahead of such developed states as Australia, Saudi Arabia and Belgium.[2]
Introduction of 20% tax on cryptocurrency revenues in South Korea
On July 22, 2020, it became known that South Korea is introducing a 20 percent tax on revenues from cryptocurrency trading. This was announced by the country's Finance Minister Hong Nam Ki during a speech in parliament.
According to him, South Korea continues to carry out a reorganization of the tax system in order to comply with changes in market conditions. 2020 will be devoted to determining the list of taxation objects, as well as tax types. For tax purposes, cryptocurrencies were included in the category of "other income."
According to the Cryptotips portal, over the past few years in South Korea there has been an increased interest in cryptocurrencies, including bitcoin and Ethereum, from local investors who want to quickly make money on the volatility of coin rates.
The Ministry of Finance said that the plan to introduce a 20 percent tax on income from cryptocurrency trading has been approved. The innovation will primarily affect those citizens who, using crypto tools, earned over 2.5 million won ($2 thousand) per year. Income below this amount is not subject to taxation. Authorities classified revenues from cryptocurrency trading as other revenues rather than capital gains. Until now, in South Korea, other income included income from lectures, lottery purchases and prizes.
Hong Nam Ki noted that the introduction of a tax on cryptocurrencies will increase tax revenues to the country from foreign firms. Meanwhile, non-residents and foreign companies that trade on South Korea's exchanges will also be forced to pay tax. According to the amendments, local exchanges will be responsible for deducting tax from the profit from the transaction and depositing it into the accounts of Korean customs.
The new rules will come into force on October 1, 2021.
Hong Kong equates cryptocurrencies with precious metals and jewelry
In early March 2020, it became known that Hong Kong decided to equate cryptocurrencies with precious metals and jewelry. Thus, the special administrative region of the PRC tightens the regulation of the cryptocurrency market.
Anti-money Hong Kong laundering (AML) and terrorism financing (CTF) requirements are being strengthened as recommended by the international Financial Action Development Group (money laundering FATF), Finance Minister Paule Chiang said.
| | Hong Kong is the first jurisdiction in the Asia-Pacific region to successfully pass the FATF assessment. The government will continue to work to boost the AML/CTF regime and is considering including virtual currency service providers and dealers in a regulatory framework covering precious metals, stones and jewellery, he stated. | |
Hong Kong is considered one of the main jurisdictions in the cryptocurrency industry, as it is here that many crypto companies are located, including exchanges and OTC platforms. The activities of these companies are controlled by the local financial regulator SFC (Hong Kong Securities and Futures Commission). Amid protests in Hong Kong, cryptocurrencies have gained immense popularity as tools to move away from government oversight.
According to the SFC requirement, if an investment fund has 10% or more of digital assets, it needs to obtain a license. And even then, companies will only be able to sell their products to professional investors.
The SFC wants to create a voluntary scheme where exchanges can test their digital assets in what is considered a "temporary regulatory" sandbox, after which they can decide whether they need to obtain a licence[3]
2019
Switzerland began issuing licenses to cryptocurrency banks
==
| | |
==
2018
==
==
==
==
| | |
| | |
| | |
| | |
==
==
==
==
| | |
==
==
2017
==
| | |
==
- shall be subject to exchange;
- must be a means of saving, etc.
5. Australia, Israel, Scandinavian countries. Cryptocurrency received the status of a tangible asset capable of being taxed.
6. Russia.
In Russia, cryptocurrency regulation is fragmentary and not systematic:
- In 2014, the Central Bank of the Russian Federation published an information letter prohibiting banks from having any relationship with bitcoin business. As a basis, the arguments are given: Bitcoin is a money surrogate (prohibited in the Russian Federation), as well as the statement that cryptocurrency can be used in laundering money obtained by criminal means.
- Rosfinmonitoring confirmed the conclusions of the Central Bank of the Russian Federation.
- MingFin bills with administrative and criminal liability for actions with cryptocurrency.
- deputy bills involving administrative punishment for any actions with cryptocurrency.
- 2016 (October) - a letter from the Federal Tax Service of the Russian Federation (which can be considered as the official position of the state): operations with cryptocurrency are not prohibited; cryptocurrency transactions are similar to foreign exchange transactions, so they will be considered by the Federal Tax Service as foreign exchange transactions. Conclusion: The Federal Tax Service looks at cryptocurrency as an object with which to make transactions; but without the claim that cryptocurrency can be used as a means of payment.
Scenarios for the development of cryptocurrency regulation
- Pessimistic: the legislator will ban the use of cryptocurrency and impose liability. Business, as after the letter of the Central Bank of the Russian Federation, will try to withdraw its assets from the country.
- The likely option: there will be no clear position of the state on this issue, consideration of the issue will be postponed. Wait-and-see attitude.
- Optimistic scenario: Cryptocurrency will be recognized as legal tender. The state will consider all points of view, hear business, take into account world practice, analyze them.
World Cryptocurrency Distribution Map
- mainly - exchange transactions;
- the popularity of cryptocurrencies is associated with the stock crisis of 2015-2016;
- renminbi depreciation;
- the ability to withdraw funds due to excessive state control over the movement of capital.
- investments;
- purchases in stores (offline and online), web services;
- gambling.
==
| | |
==
==
==
==
==
==
==
| The site content is translated by machine translation software powered by PROMT. The machine-translated articles are not always perfect and may contain errors in vocabulary, syntax or grammar. Read original article If you find inaccuracies or errors in the results of machine translation, please write to editor@tadviser.ru. We will make every effort to correct them as soon as possible. |