Vladimir Putin Signs Law Banning Crypto Payments, Celsius To Get $439 Million, Bitcoin Up 1%

Russia Bans Crypto

Russian President Vladimir Putin signs law that essentially bans crypto payments in Russia. Meanwhile, new information came to light regarding Celsius (CEL). Bitcoin up 1 per cent and Ethereum 2 per cent.

Vladimir Putin, President, Russia, has signed a law which essentially bans digital security and utility token payments across the nation. This law was approved by the Russian Assembly (Duma) on July 8, 2022, and it adds to a previous Russian law formed in 2020 to ban cryptocurrencies being used to facilitate Russian payments, reported Coindesk.

In other news, Celsius (CEL) is owed $439 million by a private lending platform called EquitiesFirst. According to sources privy to Financial Times, EquitiesFirst is currently repaying $5 million per month and the total debt consists of $361 million in cash and 3,765 Bitcoin (BTC).  “EquitiesFirst is in ongoing conversation with our client and both parties have agreed to extend our obligations,” a spokesperson for Celsius told CoinDesk.

Content retrieved from: https://www.outlookindia.com/business/vladimir-putin-signs-law-banning-crypto-payments-celsius-to-get-439-million-bitcoin-up-1–news-209569.