Russia Testing Digital Ruble Next Month: The Future of Financial Independence?

• Societe Generale, a French company, has received the country’s first crypto services license.
• A DeFi bill was introduced in the Senate to hold major investors accountable for illegal use.
• Russia could begin testing a Central Bank Digital Currency (CBDC), Digital Ruble, as early as next month.

Societe Generale Subsidiary Receives France’s First Crypto Services License

Societe Generale, a French banking group, has been granted France’s first crypto services license by the Autorite des Marches Financiers (AMF). The subsidiary of Societe Generale will now be able to provide custody and trading services for cryptocurrencies. They have also appointed Chris Amani to serve as CEO and replace former CEO Do Kwon.

DeFi Bill Introduced in Senate

A new bill that would regulate Decentralized Finance (DeFi) protocols was recently introduced in the United States Senate. This bill aims to hold major investors responsible for any illegal activities conducted with cryptocurrencies or digital assets on decentralized networks. The proposed legislation also calls for greater transparency and accountability when it comes to DeFi platforms and smart contracts.

Dormant Ethereum Whale Awakens

An Ethereum whale stirred from their slumber this week after sending $116 million worth of ETH to Kraken from an inactive wallet address that had not seen any activity since 2017. This transaction is being closely monitored by analysts due to its size and potential implications for the crypto market.

High Profile Crypto Wallet Bounties on Arkham’s Intel Exchange

Do Kwon, Sam Bankman-Fried and Elon Musk are among some of the high-profile individuals who have placed bounties on their own wallets through Arkham’s Intel Exchange platform. This platform allows users to place bounties on wallets they believe may contain ill-gotten funds or suspicious activity in order to incentivize hackers with rewards if they manage to uncover any illicit activities or connections associated with those wallets addresses.

Russia Could Begin Testing Digital Rubles Next Month

The Western superpowers‘ sanctions on Russia have accelerated its efforts towards financial autonomy, which could include beginning testing of its digital currency, called “Digital Ruble“. If approved by Russia’s upper parliament and signed into law by President Vladimir Putin, then 15 top lenders would collaborate with the Bank of Russia in running a pilot scheme where individuals and companies can create digital wallets via the bank’s platform at no charge (companies will incur a 0.3% fee).