SBI Crypto shuts Bitcoin mining pool; Russia launches digital ruble Sept 1
In brief
- SBI Crypto shuts Bitcoin mining pool July 31 after five years as 12th-largest globally
- Russia's central bank confirms digital ruble launch September 1 amid EU sanctions
- India's RBI urges lawmakers to isolate banks from crypto exposure and private stablecoins
Mining Shift in Japan
SBI Crypto's mining pool represented a significant presence in the global Bitcoin network. The shutdown marks a notable exit from the mining sector by one of Japan's largest financial institutions, signaling shifting priorities within the cryptocurrency arms of traditional finance.
Russia's Digital Ruble Timeline
Russia's central bank governor, Elvira Nabiullina, confirmed the country was prepared to roll out its central bank digital currency in two months, with September 1 set as the official launch date. The move proceeds despite preemptive sanctions from European Union authorities announced in April in response to Russia's war of aggression against Ukraine.
India's Banking Isolation Strategy
India's central bank took a firmer stance on crypto regulation. RBI Deputy Governor Rohit Jain and Executive Director P. Vasudevan presented the central bank's position to the Parliamentary Standing Committee on Finance on Thursday, urging lawmakers to keep banks insulated from crypto and private stablecoins. The RBI recommended preventing the use of crypto in payments and settlements while restricting banking-sector exposure, though it left room for regulated tokenization projects.
Enforcement and Holdings
In enforcement action, the US Department of the Treasury's Office of Foreign Assets Control sanctioned 134 cryptocurrency wallet addresses identified as belonging to ISIS-Khorasan. Stablecoin issuer Tether froze the balances associated with 131 Tron addresses that were sanctioned by OFAC.
On the investment side, Japanese investment company Metaplanet continued its Bitcoin accumulation strategy. The company acquired 2,823 Bitcoin during the second quarter at a price below its average purchase price, bringing its holdings to more than 43,000 BTC.
