Cryptanalytics Channel

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✝️ A church in Mississippi offers Bitcoin, Ethereum and other cryptocurrencies as a way to donate.

📌 The Back Bay Church in St Martin's, Mississippi, has become the first known Southern Baptist church to offer cryptocurrency as a mode of donation.

❗️ In addition to bitcoin (BTC), the church will include Ethereum (ETH) as well as Bitcoin Cash (BCH), DAI, Dogecoin (DOGE), Litecoin (LTC) and USD Coin (USDC) as donation options.

💬"This is an asset. So if someone wants to donate to our church, as they would with a piece of land, they can do so. Then we can sell it and use that money for God's mission," says Pastor Adam Bennett, who believes cryptocurrency can help in helping countries with troubled or temporarily dysfunctional financial systems.

🇺🇦Zelenski has returned the Virtual Assets Law for reconsideration.

📌 According to the presidential press service, the creation of a new body to regulate the market, as envisaged by the law, will require considerable expenses from the state budget.

Zelenskyy suggested that the regulation of the circulation of virtual assets should be attributed to the National Commission for Securities and Stock Market.

We shall remind you that on 8 September, the Verkhovna Rada passed the law "On virtual assets".

Brazil to increase penalties for cryptocurrency fraud

📌 On 29 September, a statement from the Brazilian Chamber of Deputies was published. It talks about tougher penalties for crimes related to cryptocurrencies.

📌 The amendments are part of bill 2303/15. It approves an increase in fines from one-third to two-thirds of the amount of money laundered. It also proposes increasing the minimum prison sentence from three to four years and the maximum from 10 to 16 years in addition to the fine. The bill will be debated in the House plenary.

📌 MP Aureo Ribeiro stressed that it would help protect Brazilians from cryptocurrency fraud schemes. Around 300,000 people have already been affected by "cryptocurrency pyramid schemes" in Rio de Janeiro. The MP was optimistic about other aspects of the bill. These include regulation of trading, storage, exchange of fiat money and payments.

Russia may restrict unqualified investors from investing in cryptocurrencies.

✅ The State Duma will consider the possibility of legally restricting investments in cryptoassets by unqualified investors. This was announced by Anatoly Aksakov, head of the Financial Market Committee.

🔍 According to his statement, this will protect private investors, as cryptocurrencies are "quite a complex tool" for them.

🔹 Earlier, the head of the Financial Market Committee said that bitcoin should not be legalised because of its volatility, and also proposed to register mining as a type of business activity.

One of the biggest banks in the US will work with cryptocurrencies

📌 Investment managers will be able to store private keys for Bitcoin, Bitcoin Cash and Litecoin wallets at the bank. Support for other cryptocurrencies, such as ether, will be implemented at a later date. The product is aimed at institutional managers managing private funds in the US and the Cayman Islands. In addition, U.S. Bank expects to significantly expand the service's reach if the bitcoin-ETF is approved in the US. The service is provided in cooperation with NYDIG.