Rosbank Offers Cross-Border Crypto Payments Despite Ban

Summary

  • The Blockchain Association filed an amicus brief to support a CoinCenter case that defends the coin mixer Tornado Cash.
  • Kristin Smith, CEO of the Blockchain Association, stated that punishing the tool itself simply because it can be used by anyone runs contrary to US values.
  • Marisa Tashman Coppel, Policy Counsel for the Blockchain Association, argued that OFAC could only sanction persons and property.

Russia’s Rosbank Offering Cross-Border Crypto Payments

Despite a nationwide ban on cryptocurrencies in Russia, Rosbank has started offering cross-border crypto payments. This move is part of a larger effort to stay competitive in an increasingly digital world. The bank plans to offer its customers access to global cryptocurrency markets as well as international payments using blockchain technology.

Kakarot zkEVM Secures Backing from StarkWare and Vitalik Buterin

Kakarot zkEVM has secured backing from StarkWare and Ethereum co-founder Vitalik Buterin. The pre-seed round was led by Polychain Capital with participation from Binance Labs, Electric Capital, Multicoin Capital, CMS holdings, and more. Kakarot zkEVM is designed to reduce costs associated with smart contract execution while preserving privacy of data stored on public blockchains such as Ethereum.

China Publishes National Blockchain Standard

The People’s Bank of China (PBOC) recently published a new national blockchain standard which sets out requirements for data security and service capabilities for distributed ledger technology (DLT). The standard will serve as a reference document for companies looking to implement DLT solutions across different industries in China. It also provides guidance on how blockchain networks should operate in order to ensure compliance with existing laws and regulations.

Japanese Regulators Warn OpenAI Against Collecting Sensitive Data

Japan’s Financial Services Agency (FSA) has warned artificial intelligence company OpenAI against collecting sensitive financial data without informing its customers or obtaining their consent first. The FSA advised the firm that it could face fines if it fails to comply with its guidelines regarding customer privacy protection measures when handling personal information.

Coinbase Derivatives Exchange Unveils Bitcoin and Ethereum Futures

Coinbase Derivatives Exchange announced June 2 that it had launched Bitcoin (BTC) futures contracts and Ethereum (ETH) futures contracts on its platform. The exchange also revealed that it now supports up to 50x leverage trading on both BTC/USD and ETH/USD pairs with low fees starting at 0%. Coinbase said the addition of these products will help traders achieve greater capital efficiency by allowing them to open positions with less initial capital outlay than other traditional spot margin products available today.