- The Ukrainian cryptocurrency industry will reward people who submit clues relating to their Russian politicians.
- According to Rakuten's press release, an issuing and trading functionality will not be accessible until next year.
Authorities in Kyiv have issued a social media request for details regarding cryptocurrency wallets managed by Russian and Belarusian officials. Ukraine's Deputy Prime Minister, Mykhailo Fedorov, said on Twitter on Saturday that the nation's cryptocurrency industry will reward people who submit clues relating to their identity.
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As per Artem Afian, an attorney in charge of the initiative, private funds will pay the incentives. According to Bloomberg, the initiative has gotten clues identifying public individuals with bitcoin wallets. The intention is to disclose them to major exchanges and Chainalysis, a blockchain forensics company tracking Russian deals. According to Afian,
“We need them to know that they are not accepted in Ukraine or the cryptocurrency world.”
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According to another source, various trading sites have implemented limitations on Russian Federation users. Forklog has learned that the Ukrainian crypto platform Kuna has withdrawn all pairs with the Russian ruble and has halted transactions. Whitebit does not welcome new Russian registrations, and Cex.io does not welcome or serve users from Russia, Belarus, or Ukraine.
While increasing Russian soldiers, the Kyiv authorities have pushed for further restrictions on Moscow. The move to block Russian officials' wallets occurs when Ukraine relies on bitcoin to fund its military efforts. Since the war began, the nation has received almost $17 million in cryptocurrency contributions.
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Rakuten Introduces a Non-Fungible Token Exchange
Rakuten, the Japanese online retailer, has been dabbling in virtual currencies and blockchain technologies over the past couple of years. Rakuten started a crypto exchange in the summer of 2019 and enabled users to deposit bitcoin into their Rakuten Pay wallets in the spring of 2021. Rakuten has disclosed creating a new platform named Rakuten NFT, the firm's first foray into the NFT space.
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The news release states, "Rakuten NFT is a service that offers a platform for consumers to buy NFTs, as well as peer-to-peer purchasing and selling of NFTs, in a variety of fields such as sports and entertainment, encompassing music and anime." "It also includes a one-stop facility that allows IP holders to create their site to issue and trade NFTs." Customers can receive and spend Rakuten Points by using their Rakuten ID while buying products. Any NFTs bought can be added to a collection on the purchaser's website, or they can be listed on the platform and auctioned."
Rakuten has been tracking a lot of firms that have established NFT markets in the last year. Marketplace platforms specialized in non-fungible token (NFT) assets have been developed by Coinbase, FTX, Crypto.com, and others. In fact, top NFT market sites such as Opensea, Rarible, Looksrare, and Magic Eden compete with Rakuten NFT. According to Rakuten's press release, an issuing and trading functionality will not be accessible until next year.
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"In 2023 or after, a system for peer-to-peer issuing and sale of NFT content will be launched, allowing IP holders in Japan and throughout the globe to issue NFTs and spurring the establishment of a world market for NFTs." According to Rakuten's launch release, "plans also call for the implementation of a variety of alternative payment options."
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