Coming every Saturday, Hodler’s Digest will help you track every single important news story that happened this week. The best (and worst) quotes, adoption and regulation highlights, leading coins, predictions and much more — a week on Cointelegraph in one link.
Top Stories This Week
Russia to decide between blanket crypto ban and legalizing exchanges in 2022
A recent report shows that Russia could potentially see a countrywide ban on cryptocurrency. Alternatively, it’s possible that crypto trading via regulated exchanges may continue under strict oversight.
On the one hand, Russia’s central bank is said to be behind a potential move to make crypto illegal in the country, according to Reuters. On the other hand, Anatoly Aksakov, who heads the Russian parliament’s Committee on Financial Markets, publicly disclosed that the industry may continue to operate under regulations that would ensure greater tax compliance. However, Aksakov left open the possibility of an outright ban.
US Senate confirms CFTC chair as President Biden announces commissioner picks
The Commodity Futures Trading Commission (CFTC) now has a permanent chairman following approvals by the United States Senate. On Thursday, Rostin Behnam, who had been serving as acting chairman, was given the permanent position. The CFTC is one of three U.S. governing bodies responsible for crypto industry regulatory oversight.
Behnam has previously commented on the crypto space, noting that the CFTC should focus more on the sector. He noted in October: “Given the size, the scope and the scale of this emerging market, how it’s interfacing and affecting retail customers, and with the scale of the growth being so rapid, potential financial stability risks in the future, I think it’s critically important to have a primary cop on the beat.”
The CFTC’s overall brass is also changing. In the coming months, four CFTC commissioner spots must be filled, which is a large number given that the regulatory body typically carries five commissioners.