Russian President Vladimir Putin has officially signed a law that legalizes cryptocurrency mining in Russia. According to a report by Russian news agency TASS, the law introduces several key concepts, including digital currency mining, mining pools, and mining infrastructure operators. Mining activities are now recognized by Russia as part of turnover rather than the issuance of digital currency.

The new legislation specifies that only Russian legal entities and individual entrepreneurs registered with the government will be allowed to engage in cryptocurrency mining. However, individual miners can participate without registration, provided their energy consumption remains within…

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Austrian economics dominates the discourse on bitcoin, but it is not the only heterodox economic theory that describes the importance of a type of money that sounds strikingly like bitcoin. Aspects of degrowth and ecological economics promote an end to fiat and inflationary currencies. While we often focus on the benefits of bitcoin mining for the current energy transition away from fossil fuels, bitcoin has an even more important role to play in transitioning our societies to a sustainable and more equitable world.

Bitcoin’s energy consumption is both trivial and not trivial at the same time. The network consumes less than half a percent of the world’s electricity consumption. Some…

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Binance, the world’s leading cryptocurrency exchange, has expanded its offerings with the introduction of Toncoin (TON) spot trading. Starting from August 8, 2024, at 10:00 UTC, Binance users can now engage in immediate buying and selling of TON, providing enhanced trading flexibility. This move shifts TON from being exclusively available for futures trading to the more accessible spot market, signaling a significant enhancement in investor and trader options.

Developed by the team behind Telegram, Toncoin is a high-speed, scalable Layer-1 blockchain designed to support rapid transactions and growth within the crypto ecosystem. This listing is poised to potentially stabilize and increase TON’s value, as spot listings on renowned exchanges like Binance typically elevate market sentiment and liquidity.

The introduction of TON to Binance’s spot market is part of the exchange’s broader strategy to foster innovation and support emerging projects in the Web3 space. Despite some market concerns over new listings, Binance’s commitment to integrating cutting-edge cryptocurrencies like Toncoin demonstrates its ongoing leadership and influence in the digital currency landscape.

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The Brazilian Securities and Exchange Commission (CVM) has approved the country’s first Solana-based exchange-traded fund (ETF). This product, still in its pre-operational stage and pending approval from the Brazilian stock exchange B3, marks one of the first Solana-based exchange-traded products globally. The ETF will follow the CME CF Solana Dollar Reference Rate, developed by CF Benchmarks with the Chicago Mercantile Exchange (CME). QR Asset, a Brazilian asset manager, will offer the ETF, with local fintech Vortx managing it.

This move highlights Brazil’s growing role in regulated crypto investments. The new ETF underscores QR Asset’s dedication to providing quality and diversification to investors, according to Theodoro Fleury, the company’s manager and chief investment officer. Brazil, the largest South American country, has been increasingly accommodating to crypto ETFs, having listed Bitcoin and Ethereum ETFs between 2021 and 2022 and BlackRock’s iShares Bitcoin Trust ETF in March 2024. This development strengthens Brazil’s position as a leading market for crypto asset investments.

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Japanese investment firm Metaplanet has obtained a $6.8 million loan from shareholder MMXX Ventures to bolster its Bitcoin holdings. The loan, carrying a 0.1% annual interest rate and a six-month term starting August 8, is set to be repaid in a lump sum. If entirely allocated to Bitcoin, this loan would allow Metaplanet to purchase an additional 118.5 BTC at current market prices.

This move follows Metaplanet’s announcement to raise $70 million through a stock rights offering, with $58 million dedicated to Bitcoin investments. The firm has so far acquired 246 BTC, valued at $13.95 million, as a hedge against Japan’s mounting debt and the depreciating yen. CEO Simon Gerovich emphasized Bitcoin’s potential to improve the company’s financial stability. Since adopting its Bitcoin strategy, Metaplanet’s stock has surged 290%, though it has recently dipped from its peak due to market volatility.

Long-term Bitcoin holders have demonstrated significant confidence in the cryptocurrency market, acquiring an additional $23 billion worth of Bitcoin in the last 30 days. This surge involves an increase of 404,000 BTC, indicating a strong belief in the currency’s future despite recent concerns about market stability due to issues with major players like Mt Gox and Celsius.

Data from CryptoQuant highlighted in a recent tweet from Bitcoin Archive illustrates a stark rise in permanent holder addresses, juxtaposed against the price volatility over the years. The market appears resilient as these veteran investors continue to accumulate more Bitcoin, suggesting a possible stabilization or even an upward trend in the near future as these large volume purchases could drive up market demand.