Investment firm Carlyle to buy ManTech in $4.2B deal

U.S. Air Force Airman 1st Class Leann Munoz, 18th Force Support Squadron customer service technician, types on a computer March 29, 2018, at Kadena Air Base, Japan.ManTech, a cyber technology firm that supports defense and other national security agencies, has reached an agreement to be bought by the investment firm Carlyle in a $4.2 billion deal. (Staff Sgt. Micaiah Anthony/Air Force)

WASHINGTON — The global investment firm Carlyle will pay about $4.2 billion to acquire ManTech International, a cyber and technology contractor that works for defense, intelligence and civilian agencies.

In a release announcing the deal, the firms said ManTech stockholders will receive $96 per share, 17% more than the stock’s closing price of $81.97 last Friday. It would be up 32% from the $72.82 share price in early February, before news broke an acquisition was in the works.

ManTech’s board of directors unanimously approved the acquisition and recommended the company’s shareholders vote to OK it. If that happens, and if government regulators approve the deal, it will likely close later this year.

Kevin Phillips, ManTech’s president and chief executive, called the deal an “important milestone” for the company and a sign of its growth and importance in the industry.

Last year, Defense News ranked ManTech 52nd on its list of the top 100 defense firms. In fiscal 2020, ManTech recorded more than $2.5 billion in sales and nearly $2 billion in defense sales alone.

Phillips said the board considered other options before selecting the Carlyle deal, adding that ManTech will take advantage of Carlyle’s “deep knowledge and experience investing in and growing companies.”

Carlyle has a lengthy history in acquiring government contractors, among them United Defense, Booz Allen Hamilton and, more recently, Novetta.

“We have always admired ManTech’s unwavering commitment to support national security customers and their critical missions through differentiated capabilities and technology solutions,” Dayne Baird, an aerospace and government services managing director for Carlyle, said in the release. “Through this partnership, we look forward to leveraging our sector expertise and resources to accelerate growth and innovation and to drive greater value for customers and employees.”

Stephen Losey is the air warfare reporter at Defense News. He previously reported for Military.com, covering the Pentagon, special operations and air warfare. Before that, he covered U.S. Air Force leadership, personnel and operations for Air Force Times.

Source: https://www.defensenews.com/industry/2022/05/16/investment-firm-carlyle-to-buy-mantech-in-42b-deal/

Here Are the Most Popular Cryptocurrencies in South Korea: Report


South Korean investors reportedly own over $5 billion worth of Bitcoin (BTC). Ripple (XRP) is the second most popular digital asset as locals hold nearly $4.8 billion in it.

BTC and XRP Lead the Way

South Korea’s leading crypto exchanges – Upbit, Bithumb, Coinone, and Korbit – conducted a study to determine which digital assets are the most attractive to local investors. The largest cryptocurrency by market capitalization – Bitcoin (BTC) – places first as South Koreans have invested more than $5 billion in it. The native token of Ripple – XRP – ranks second with around $4.8 billion distributed in it.

The third and fourth places belong to Ether (ETH) and Cardano (ADA), respectively. Investors own approximately $4.5 billion worth of the second-largest digital asset and nearly $1 billion in ADA.

Interestingly, the first-ever memecoin – Dogecoin (DOGE) – rounds up the top 5. South Koreans hold almost $900 million worth of it.

The report noted that local investors traded over $7 trillion in digital assets throughout 2021. The figure is more than the entire amount traded on the main Korea Composite Stock Price Index and the transactions on the junior Kosdaq.

South Korea Takes the Crypto Path

Last month, the East Asian country held its most contested presidential election. In the aftermath, the candidate of the Conservative party – Yoon Suk-yeol – collected only 263,000 votes more than his opponent and became South Korea’s next President. What’s more interesting is that he is a keen proponent of the cryptocurrency industry and vowed to turn his homeland into a digital asset hub.

During his campaign, he promised to allow initial coin offerings (ICOs) and increase the minimum threshold for paying capital gains tax on profits from crypto investments. He vowed to change the law and ensure that those who generate revenues of less than $40,000 annually should be exempt from paying taxes. Currently, such taxation is imposed on investors who make more than $2,000 per annum.

Korea Blockchain Association – a lobby group for crypto exchanges – envisioned that the new leader of South Korea will positively impact the local digital asset ecosystem. Secretary-General Yoon Seong-han said:

“We definitely welcome his stance as he is confident about boosting the industry. As ICOs are banned now, we have no choice but to issue coins in Singapore and other countries. Ventures and startups will be able to raise money easily from investors [if the ban is lifted].”

BigONE Exchange’s Chairman – Anndy Lian – also welcomed the new President of the country:

“He understands the importance of crypto. He understands the future, and it is unstoppable.”

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Source: https://cryptopotato.com/here-are-the-most-popular-cryptocurrencies-in-south-korea-report/

Bank Stocks News: What’s Going on with JPM, BLK, WFC, C, GS Stocks Today?

Today, bank stocks like JPMorgan (NYSE:JPM), BlackRock (NYSE:BLK), Wells Fargo (NYSE:WFC), Citigroup (NYSE:C) and Goldman Sachs (NYSE:GS) are in the spotlight. That’s because two of these companies — JPMorgan and BlackRock — reported earnings for the first quarter this morning. Now, the reports from these two names are setting the tone for the rest of the bank stocks.

hands at desk near laptop computer, with one hand holding a pile of hundred dollar bills

Source: shutterstock.com/CC7

With that in mind, let’s jump into the details. Here’s what investors should know about the recent earnings reports.

Bank Stocks News: JPM Stock and Q1 Earnings

For the period, JPMorgan posted Q1 revenue of $31.59 billion, beating consensus analyst expectations of $30.86 billion. However, profits tallied in at $8.28 billion, which was down a massive 42% year-over-year (YOY). The investment bank attributed the drop in profit to lower investment banking revenue, Russia’s ongoing invasion of Ukraine and “increased costs for bad loans.”

Specifically, investment banking revenue fell 28% YOY for the period, while investment banking fees dropped 31% YOY due to “lower equity and debt underwriting activity.” Meanwhile, JPM reported a $524 million loss due to markdowns and large spreads also caused by Russia’s invasion. JPMorgan increased its credit reserves by $902 million during the quarter as well, in order to insure against potential loan losses. In the report, CEO Jamie Dimon issued a bleak warning on the state of the economy:

“We remain optimistic on the economy, at least for the short term — consumer and business balance sheets as well as consumer spending remain at healthy levels — but see significant geopolitical and economic challenges ahead due to high inflation, supply chain issues and the war in Ukraine.”

Currently, shares of JPM stock are down about 3% on the day.

BLK Stock and Q1 Earnings

This morning, BlackRock also reported earnings. For the period, the bank saw Q1 revenue of $4.7 billion, up 7% YOY and meeting analyst expectations. Furthermore, adjusted earnings per share (EPS) came in at $9.52. That beat expectations of $8.70 per share. BlackRock is known for managing exchange-traded funds (ETFs) and the company disclosed $56 billion of inflows during the quarter. CEO Larry Fink also chimed in on the company’s outlook:

“As the world continues to face geopolitical and economic uncertainty, our investments over the years to build BlackRock’s all-weather platform position us well to advise our clients and help them pursue their long-term financial goals.”

Shares of BLK stock are down less than a percent at the time of writing.

When Will Wells Fargo, Citigroup, Goldman Sachs Report?

Looking forward, Wells Fargo, Goldman Sachs and Citigroup have all confirmed they will report Q1 earnings tomorrow morning, April 14. Tomorrow will likely be a volatile day for bank stocks as these first-quarter company performances become disclosed.

On the date of publication, Eddie Pan did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.

Source: https://investorplace.com/2022/04/bank-stocks-news-whats-going-on-with-jpm-blk-wfc-c-gs-stocks-today/

India-UAE pact: Goyal Invites Cos; Trade May Be $100-Billion in 5 years, $250 Billion by 2030

Union Minister Piyush Goyal (File Image: Money SHARMA/AFP)

Union Minister Piyush Goyal (File Image: Money SHARMA/AFP)

India-UAE trade currently stands at USD 60 billion; Commerce Minister Piyush Goyal said recently signed FTA is a win-win pact for both countries

Commerce and Industry Minister Piyush Goyal invited the business community from the United Arab Emirates (UAE) to capitalise on the business-friendly policies and opportunities that India is offering to global businesses. “With the cost and trust advantage that India offers, it is time to invest in India. As partners, we can secure each other’s economic future and strengthen our partnership in the post-COVID-19 world,” said Goyal, while speaking at India’s Honour Day Celebrations at Expo2020 in Dubai.

He added that the country is now at the cusp of growth and development in the years to come. “India provides talent and investor-friendly policies. In most sectors, FDI is open 100 per cent. We have several new initiatives to promote industry like the production-linked incentive scheme and the Make in India policy,” he added. “Come experience India — the land of opportunities,” he said this to the global business community.

Goyal said that the next 25 years in India will signify a strong and inclusive India. He said the word “trust” describes the India-UAE relationship. “Our ties will remain vibrant and grow from strength to strength,” said the minister.

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On the recently signed India-UAE free-trade pact that is likely to come into effect from May 1 this year, the minister said the Comprehensive Economic Partnership Agreement (CEPA) is a win-win agreement for the good of the people of both the countries.

The CEPA, signed in February, aims to boost bilateral trade to USD 100 billion in the next five years, from USD 60 billion currently. Goyal on Monday said both the countries should look at taking the bilateral trade to USD 250 billion by 2030.

The minister said, “The special partnership that Prime Minister Narendra Modi and H H Sheikh Mohammed bin Zayed Al Nahyan share is legendary.”

He added that It’s a bond of eternal friendship symbolising trust and “we are natural partners due to the complementary nature of our economies and increasing trade will always showcase the synergy that the two nations have, strengthening further, our bonds”.

On the grand success of Dubai Expo, the minister said it is victory of courage over adversity. “The Expo will go down in history as a memorable chapter where the two brothers came closer. It will conclude but the memories will remain. The India Pavilion is going to be a permanent structure; it is not going to be dismantled. It will stand as a testimony to our two countries working towards the collective good of the people.”

One of the largest and most iconic pavilions at Expo2020 Dubai, the India Pavilion, which was inaugurated by Goyal, witnessed over 16 lakh footfalls since its inauguration on October 1, 2021. The Expo2020 Dubai is concluding on March 31.

Read all the Latest News , Breaking News and IPL 2022 Live Updates here.

Source: https://www.news18.com/news/business/india-uae-pact-goyal-invites-cos-trade-may-be-usd-100-bn-in-5-yrs-usd-250-bn-by-2030-4923782.html

Why Are Fox Shares Trading Higher Today?

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  • Fox Corp FOX reported second-quarter FY22 revenue growth of 9% year-on-year to $4.44 billion, beating the consensus of $4.26 billion.
  • Affiliate revenues increased 11% Y/Y to $1.69 billion with 12% growth at the Cable Network Programming segment and 10% growth at the Television segment.
  • Advertising revenues increased 6% Y/Y to $2.41 billion, primarily due to continued pricing strength at the FOX Network, underpinned by the strength of the Company’s sports portfolio, and continued growth at Tubi.
  • Other revenues increased 20% to $345 million, led by higher sports sublicensing revenues at the Cable Network Programming segment.
  • Adjusted EPS of $0.13 beat the consensus of $0.03. Fox held $4.3 billion in cash and equivalents.
  • Dividend: Fox declared a dividend of $0.24 per share.
  • Share Buyback: Fox authorized a $4 billion stock repurchase program.
  • “These strong results and broad-based operating momentum are underpinned by the most valuable news franchise in the country, the leading live sports franchise, our top broadcast network reinforced by a strategic stations portfolio, as well as the emerging leader in AVOD,” Chair and Chief Executive Officer Lachlan Murdoch said.
  • Price Action: FOX shares traded higher by 6.86% at $39.90 on the last check Wednesday.

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  • Advertising revenues increased 6% Y/Y to $2.41 billion, primarily due to continued pricing strength at the FOX Network, underpinned by the strength of the Company’s sports portfolio, and continued growth at Tubi.
  • Source: https://www.benzinga.com/news/earnings/22/02/25509411/why-are-fox-shares-trading-higher-today

    3 of the most underrated cryptocurrencies in the market right now

    Analysis

    Making money in the crypto market is not easy these days. However, the surest…The post 3 of the most underrated cryptocurrencies in the market right now appeared first on Coin Journal.

    3 of the most underrated cryptocurrencies in the market right now

    Making money in the crypto market is not easy these days. However, the surest way to earn your way into millions is to buy undervalued, unknown, and underrated coins that will ultimately explode in the future. Here is why underrated coins are often perfect:It takes time before the market uncovers the true value of these coins and if you got in early, you will make money.In most cases, underrated coins tend to fly under the radar as well and don’t get too much coverage.Most underrated coins can explode in a few weeks but others may take months or years to reach full potential.For folks who are interested in these underrated coins, we have come up with a top 3 list here below for you:Enjin Coin (ENJ)Enjin Coin (ENJ) is an innovative blockchain designed to provide an interconnected ecosystem for blockchain gaming. In essence, it is trying to create an elaborate infrastructure for the development of blockchain games in the future. Data Source: TradingviewThe coin is seen as a crucial part of the metaverse as well. With a market cap of $1.8 billion, ENJ can still grow. At press time, it was trading for $2.16.Filecoin (FIL)Filecoin (FIL) is not a small project per se. It already has a market cap of around $3 billion. It is also one of the older blockchain projects. However, the coin is yet to achieve its full potential.Filecoin is designed to offer decentralised file storage. As concerns over privacy and information security grow, decentralised storage will become the center of the solutions. FIL is likely to benefit a lot from that in the future.The Graph (GRT)This important indexing protocol is being used to power many DApps and other blockchains. It has seen a lot of growth as well with a market cap of around $2.2 billion. But GRT is still expected to keep pushing further and increasing in value.The post 3 of the most underrated cryptocurrencies in the market right now appeared first on Coin Journal.

    Source: https://bitotal.com/news/3-of-the-most-underrated-cryptocurrencies-in-the-market-right-now

    Private-equity giant KKR in talks to back Animoca Brands in latest funding round doubling the metaverse-maker’s valuation to $5 billion

    • Private equity giant KKR is in talks to back Sandbox-owner Animoca Brands in its latest funding round.
    • KKR’s investment would bring the funding round to a total of $500 million, Bloomberg reported.
    • Animoca Brands said it’s targeting another round as early as this year.

    Loading Something is loading.

    The owner of the hit metaverse known as The Sandbox may get backing from private equity behemoth KKR.

    KKR is in talks to back Animoca Brands’ latest funding round, according to a Wednesday report from Bloomberg that cited people familiar with the matter. With an infusion from KKR, the company’s latest funding round would hit approximately $500 million, Bloomberg reported.

    The metaverse creator initially announced a $358 million funding round in January involving the Winklevoss Twins and billionaire investor George Soros. KKR, according to Bloomberg, is in talks to add to that round. KKR declined to comment on the matter. A representative from Animoca Brands did not immediately respond to Insider’s request for comment.

    The funding round valued Animoca Brands at $5 billion, more than doubling a prior funding round from October. Bloomberg said the company is aiming for another funding round as early as this year to bring its valuation to $10 billion.

    Insider previously reported that the company plans to use the cash infusion to fund acquisitions, product development, and licenses for intellectual property. Animoca Brands has been focused on the booming market for digital collectibles known as NFTs as well as the emerging virtual venue known as the metaverse.

    The company is invested in more than 150 of these types of businesses, including metaverse-game Axie Infinity, NFT-marketplace OpenSea, and CryptoKitties-maker Dapper Labs.

    In the metaverse — a virtual reality where people interact and play as digital avatars — property sales are booming. On top of that, sales of NFTs have also surged. Last year, the market grew to $41 billion, according to one estimate.

    NFTs and the metaverse run on the blockchain, the same technology that powers cryptocurrencies. Venture capital funds from the Winklevoss Twins and Andreessen Horowitz have been pouring into the crypto world. For private-equity firm KKR, Animoca Brands could become one of several blockchain-related companies it has invested in recently, Bloomberg said.

    Deal icon An icon in the shape of a lightning bolt.

    Keep reading

    More: MI Exclusive Sandbox Metaverse NFTs

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    Source: https://markets.businessinsider.com/news/currencies/kkr-animoca-brands-funding-round-winklevoss-twins-george-soros-2022-2?op=1

    3 of the most underrated cryptocurrencies in the market right now

    Making money in the crypto market is not easy these days. However, the surest way to earn your way into millions is to buy undervalued, unknown, and underrated coins that will ultimately explode in the future. Here is why underrated coins are often perfect:

    • It takes time before the market uncovers the true value of these coins and if you got in early, you will make money.

    • In most cases, underrated coins tend to fly under the radar as well and don’t get too much coverage.

    • Most underrated coins can explode in a few weeks but others may take months or years to reach full potential.

    For folks who are interested in these underrated coins, we have come up with a top 3 list here below for you:

    Enjin Coin (ENJ)

    Enjin Coin (ENJ) is an innovative blockchain designed to provide an interconnected ecosystem for blockchain gaming. In essence, it is trying to create an elaborate infrastructure for the development of blockchain games in the future.

    Data Source: Tradingview

    The coin is seen as a crucial part of the metaverse as well. With a market cap of $1.8 billion, ENJ can still grow. At press time, it was trading for $2.16.

    Filecoin (FIL)

    Filecoin (FIL) is not a small project per se. It already has a market cap of around $3 billion. It is also one of the older blockchain projects. However, the coin is yet to achieve its full potential.

    Filecoin is designed to offer decentralised file storage. As concerns over privacy and information security grow, decentralised storage will become the center of the solutions. FIL is likely to benefit a lot from that in the future.

    The Graph (GRT)

    This important indexing protocol is being used to power many DApps and other blockchains. It has seen a lot of growth as well with a market cap of around $2.2 billion. But GRT is still expected to keep pushing further and increasing in value.

    Source: https://coinjournal.net/news/3-of-the-most-underrated-cryptocurrencies-in-the-market-right-now/

    Mid-Afternoon Market Update: Dow Surges Over 150 Points; Tyson Foods Beats Views

    US stocks traded higher later during the session, with the Dow Jones index adding more than 150 points on Monday.

    Toward the end of trading Monday, the Dow traded up 0.49% to 35,260.47 while the NASDAQ rose 0.23% to 14,130.97. The S&P also rose, gaining, 0.26% to 4,512.09.

    Check out this: Executives Buy Around $62M Of 3 Stocks

    Leading and Lagging Sectors

    Energy shares rose by 1.6% on Monday. Meanwhile, top gainers in the sector included Calumet Specialty Products Partners, L.P. (NASDAQ:CLMT), up 7% and Aemetis, Inc. (NASDAQ:AMTX) up 10%.

    In trading on Monday, communication services shares tumbled by 1.7%.

    Top Headline

    Tyson Foods Inc (NYSE:TSN) posted better-than-expected earnings for its first quarter on Monday.

    Tyson Foods posted quarterly earnings of $2.87 per share, beating analysts’ estimates of $1.90 per share. The company’s quarterly sales came in at $12.93 billion, versus market expectations of $12.18 billion.

    Tyson Foods expects FY22 sales to be in the upper end of $49 billion – $51 billion, versus the consensus of $50.35 billion.

    Equities Trading UP

    Anghami Inc. (NASDAQ:ANGH) shares shot up 52% to $18.27 following its recent listing on NASDAQ.

    Shares of Nuvectis Pharma, Inc. (NASDAQ:NVCT) got a boost, shooting 183% to $9.20. The company, on Friday, priced its IPO at $5 per share.

    Origin Agritech Limited. (NASDAQ:SEED) shares were also up, gaining 31% to $6.20 after the company said it expects FY22 sales to exceed RMB150 million.

    Executives Buy More Than $28M Of 4 Stocks

    Equities Trading DOWN

    Statera Biopharma, Inc. (NASDAQ:STAB) shares tumbled 26% to $ 1.01 as the company announced a registered direct offering of $2 million common stock and warrants.

    Shares of Dermata Therapeutics, Inc. (NASDAQ:DRMA) were down 35% to $1.44. Dermata Therapeutics has requested the FDA to waive the requirements to complete a 90-day dermal minipig study and a standard dermal pharmacokinetics study before the End of Phase 2 meeting for its DMT310 acne program.

    Cerence Inc. (NASDAQ:CRNC) was down, falling 34% to $42.19 after the company issued Q2 sales guidance below estimates and lowered FY22 sales guidance below estimates. The company also said CFO Mark Gallenberger will retire effective March 11, 2022.

    Also check out these insider buying in penny stocks here

    Commodities

    In commodity news, oil traded down 1.3% to $91.00, while gold traded up 0.8% to $1,821.70.

    Silver traded up 2.6% Monday to $23.055 while copper fell 0.2% to $4.4780.

    Euro zone

    European shares were mostly higher today. The eurozone’s STOXX 600 gained 0.68%, London’s FTSE 100 gained 0.76%, while Spain’s IBEX 35 Index fell 0.36%. The German DAX rose 0.71%, French CAC 40 rose 0.83% and Italy’s FTSE MIB Index fell 1.03%.

    Economics

    Data on consumer credit for December will be released at 3:00 p.m. ET.

    Check out the full economic calendar here

    COVID-19 Update

    The U.S. has the highest number of coronavirus cases and deaths in the world, reporting a total of 78,026,020 cases with around 926,090 deaths. India confirmed a total of at least 41,272,010 cases and 502,900 deaths, while Brazil reported over 26,536,590 COVID-19 cases with 632,280 deaths. In total, there were at least 397,270,730 cases of COVID-19 worldwide with more than 5,762,160 deaths.

    AMTX

    Source: https://markets.businessinsider.com/news/stocks/mid-afternoon-market-update-dow-surges-over-150-points-tyson-foods-beats-views-1031168395?op=1

    Russian Government to Present Regulatory Scenarios for Cryptocurrencies Within a Week, Report – Regulation Bitcoin News

    Russian Government to Present Regulatory Scenarios for Cryptocurrencies Within a Week, Report

    The federal government of Russia should be ready with different regulatory scenarios for the country’s crypto market by the end of next working week, documents from a recent meeting have indicated. The executive power in Moscow favors regulation over the prohibition of cryptocurrencies and related activities.

    Government Inclined to Legalize Rather Than Ban Cryptocurrency in Russia

    The Russian government, which is hosting the ongoing debate on the future of decentralized digital money in Russia, is going to produce alternative scenarios for crypto regulation by Feb. 11. The Russian business daily Kommersant broke the news, quoting documents from a meeting held at the White House in Moscow last week.

    The fate of cryptocurrencies in the country is likely to be decided by the outcome of a clash between two opposing views. While the Central Bank of Russia proposes a blanket ban on crypto-related activities such as issuance, exchange, and mining, the Ministry of Finance pushes for legalization under strict rules and without recognizing bitcoin as a means of payment.

    Most government institutions, including relevant ministries, have supported the approach suggested by the treasury department. If it is adopted, Russians owning digital coins will be able to operate with them as with investment assets under the watchful eye of the government, make transactions through Russian banks and pay taxes.

    Bank of Russia elaborated its position on cryptocurrencies in a consultation paper published last month. It says that all transactions with private digital currencies should be conducted outside Russian jurisdiction and without using Russia’s financial infrastructure. On the other hand, the Finance Ministry insists that authorities should differentiate between “white” and “black” crypto market activities. Both agree, however, that cryptocurrencies should not be granted legal tender status.

    Last week, RBC reported that the government has drafted a regulatory roadmap, signed by Deputy Prime Minister Dmitry Chernyshenko. According to Kommersant, its concept about the regulation of the crypto market has been outlined in a letter by Finance Minister Anton Siluanov to Prime Minister Mikhail Mishustin. It has been agreed with other departments and regulatory bodies, including the ministries of economy and digital development, Russia’s financial watchdog, Rosfinmonitoring, the Federal Tax Service and the Federal Security Service.

    According to Siluanov, Russian citizens have 12 million crypto wallets with coins worth around 2 trillion rubles (almost $26.5 billion). However, knowledgeable sources quoted by Bloomberg have recently revealed that the government is also working with a much higher estimate, according to which Russians own $215 billion in cryptocurrency.

    Tags in this story

    Central Bank, concept, Crypto, crypto regulations, Cryptocurrencies, Cryptocurrency, finance ministry, Government, proposal, Proposals, Regulation, Regulations, regulatory scenarios, Roadmap, Russia, russian

    Do you think Russia will legalize cryptocurrencies in the near future? Tell us in the comments section below.

    Lubomir Tassev

    Lubomir Tassev is a journalist from tech-savvy Eastern Europe who likes Hitchens’s quote: “Being a writer is what I am, rather than what I do.” Besides crypto, blockchain and fintech, international politics and economics are two other sources of inspiration.

    US Lawmakers Introduce ‘Virtual Currency Tax Fairness Act’ to Strengthen Legitimacy of Cryptocurrency, Expand Crypto Use for Payments

    Indian Government Official Discusses Cryptocurrency Regulation, Global Crypto Consensus, G20 Meeting

    Image Credits: Shutterstock, Pixabay, Wiki Commons

    Last week, RBC reported that the government has drafted a regulatory roadmap, signed by Deputy Prime Minister Dmitry Chernyshenko. According to Kommersant, its concept about the regulation of the crypto market has been outlined in a letter by Finance Minister Anton Siluanov to Prime Minister Mikhail Mishustin. It has been agreed with other departments and regulatory bodies, including the ministries of economy and digital development, Russia’s financial watchdog, Rosfinmonitoring, the Federal Tax Service and the Federal Security Service.

    Source: https://news.bitcoin.com/russian-government-to-present-regulatory-scenarios-for-cryptocurrencies-within-a-week-report/