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FameEX Morning Crypto News Recap | April 20, 2023

2023-04-20 11:02:10

Hong Kong Judge Declares Crypto Assets as 'Property,' Joining Global Trend of Similar Rulings
Hong Kong Judge Linda Chan has classified crypto assets as "property," bringing clarity to officials, regulators, and other common law jurisdictions, according to law firm Hogan Lovells. A summary of the ruling was published on April 18, 2023. Meanwhile, the US Congress is debating whether some crypto assets should be considered securities or commodities.

Australia Surpasses Asia in Number of Installed Bitcoin ATMs
Australia now has more Bitcoin ATMs than the entire Asian region, which hosts 355 crypto machines, accounting for just 1% of the worldwide number of crypto ATMs installed, according to Coin ATM Radar data. Since the start of 2023, Australia has been steadily adding Bitcoin ATMs, rising to third place globally in the number of crypto machines installed, with 364 ATMs.

Bank of Russia Plans to Establish Entities for Cryptocurrency Mining and Cross-Border Settlement, Report Says
The Bank of Russia intends to establish new entities for cryptocurrency mining and cross-border settlements, including transactions involving digital assets, according to the bank's head, Nabiullina. The plan involves the creation of "special authorized organizations" for this purpose. The bank seeks to streamline international payments and make them more efficient by utilizing blockchain technology.

Russia Collaborating with Partners, Including Turkey, to Create Payment Gateways and Considering Cryptocurrency Settlements
The Bank of Russia is partnering with foreign payment networks, including Turkey, to create a system of gateways. According to the head of Russia's monetary authority, the central bank is also considering allowing the experimental use of cryptocurrencies in foreign economic activities.

Disclaimer: The information provided in this section is for informational purposes only, doesn't represent any investment advice or FameEX's official view.

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