ChainFabricNews

image source: 99Bitcoins The UK government is facing a major decision regarding the fate of around £5.2 billion worth of Bitcoin confiscated from criminal activities. With the country grappling with financial challenges, officials are debating whether to sell off these digital assets or hold onto them as part of the national reserves. This situation has sparked a wider conversation about the role of cryptocurrency in the UK’s economy and financial policies. How the UK Ended Up with Billions in Bitcoin In recent years, UK authorities have ramped up their efforts to crack down on illicit cryptocurrency transactions. Working closely with the Financial Conduct Authority (FCA), law enforcement agencies have seized significant amounts of Bitcoin from criminals involved in fraud, money laundering, and cybercrime. With Bitcoin’s value soaring, the UK government now finds itself sitting on a digital treasure trove, leaving many wondering what will happen next. Should the UK Sell or Hold Onto Bi...

image source: CNBC Russia has taken a bold step in embracing digital currencies by officially legalizing cryptocurrency mining and allowing its use for international transactions. This decision is seen as part of a larger strategy to reduce the impact of Western sanctions and explore alternative financial systems. The move is a significant milestone for Russia’s crypto industry and could reshape global trade and finance. What This Means for Businesses Under the new law, companies can mine cryptocurrencies and use them for cross-border payments, provided they get approval from the Central Bank. However, using digital currencies for domestic transactions is still off the table. This measured approach highlights Russia’s intent to tap into crypto for international dealings while keeping tight control over its local financial ecosystem. This decision follows long discussions between government officials, financial institutions, and the Central Bank of Russia. Initially, the Central Bank op...