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Putin ordered the adoption of laws on cryptocurrency before July 1, the cryptocurrency will be launched on Facebook. Hardfork Constantinople in the Ethereum network was a success.
Russian President Vladimir Putin instructed the legislative and executive branches of government to speed up work on creating a legal framework for cryptocurrency and complete them before July 1, 2019. This message was published on the official website.
Back in March 2018, the draft law “On digital financial assets” was submitted to the State Duma, but so far it has been considered only in the first reading. During consideration, the bill received a number of changes, and now experts doubt its suitability for practical application. In order for it to enter into force before July 1, it will be necessary to pass a law in 2 and 3 reading until the end of March 2019. Such a rush increases the risk that there will be many contradictions and inconsistencies in the new law.
Facebook is developing its own cryptocurrency for use in WhatsApp messenger. The coin, already called Facebook Coin, will allow instant transfers within the network. It is expected that the project will be implemented in the coming months.
The creation of the Facebook Coin began in late 2018. Developers plan to create a token, the rate of which will be tied not only to the dollar. Its price will be fixed against the basket of the most liquid currencies. Experts say that Facebook is able to provide users with not so much a cryptocurrency, as a global financial asset. Due to the presence of a huge number of users, it will become popular in a very short time.
In the Ethereum blockchain, the long-awaited hardfork of Constantinople finally passed. Its launch was planned for October 2018, but due to technical problems, the dates were repeatedly postponed. This time, the fork was supported by 22.1% of users who pre-installed the updated software.
As a result, the complexity bomb was canceled, and the extraction of one block will take no more than 15 seconds. Although the unit remuneration has been reduced from 3 to 2 ETH, a recovery in cryptocurrency emission rates is expected. According to the developer of Ethereum ENS Nick Johnson, possible problems may not come out immediately, but after some time. Now the pair ETH / USD rate remains stable, the second day it keeps around the level of 136-138 dollars.
What awaits Ethereum in the future