After long months of legal uncertainty, Russia has reversed its decision on crypto showering bitcoin with love by announcing it will regulate BTC as a currency. Speaking of adoption, Abu Dhabi Customs Authority is implementing blockchain technology!
Without any further ado, let's dive in, but first let's check out the charts!
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Abu Dhabi Customs Authority Teams up with Blockchain Tradelens
UAE Abu Dhabi Customs has announced the joining of Blockchain Trade platform Tradelens to digitized transportation documentation and streamline processes in customs declaration processes, Unblock reported.
Yanal Qasim Mohammad Alkhasoneh, Division Director – Information Technology, Abu Dhabi Customs Authority, told the news outlet: “Abu Dhabi Customs is excited to work with a group of importers and exporters to explore the benefits that collaboration using blockchain can offer to all those involved. This joint approach is critical to create time savings in the process and to improve access to international trade to all entities that trade with Abu Dhabi. We really believe TradeLens will be bringing a lot of benefits to our ecosystem here in Abu Dhabi”.
Russian to Treat Bitcoin as a currency
The Russian government and central bank have both agreed to regulate cryptocurrencies and consider bitcoin a legit currency, according to a Tuesday announcement.
The statement revealed that the purpose of the regulation is to “integrate the mechanism for the circulation of digital currencies into the financial system and ensure control over cash flows in the circuit of credit institutions”.
Such regulations will bring the digital currency industry out of the shadows and create the possibility of legal business activities.
Netflix to Make Series on Bitfinex Hack
Streaming giant Netflix has announced the production of a new documentary series that will cover the married couple’s alleged scheme to hack Bitfinex crypto exchange which took place in 2016, stealing and laundering 119,756 Bitcoin (BTC) — worth $72 million at the time.
