Russia Plans to Block Cryptocurrency Exchanges

Russia plans to block cryptocurrency exchanges

  • In September, cryptocurrency exchanges in China, where digital money is bought and sold for cash, stopped serving customers in the country to comply with government directives.
  • Now, Russia is planning to follow suit and block cryptocurrency exchanges within its borders, CNBC and Russian outlet RBC report.
  • According to CNBC, first deputy director of Russia’s central bank Sergei Shvetsov said at a conference in Moscow on Tuesday morning that the government will block cryptocurrency exchanges.
  • Russian news outlet TASS reported in September that the government was working on some new legislation to cover cryptocurrencies, which will be presented later in October.
  • If Russia blocks cryptocurrency exchanges, it means that the digital currency will lose yet another market.

Bitcoin takes another hit abroad.
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New Ethereum-based Platform VOISE promises more freedom to independent artists

  • With this scenario in mind, Isaac Rodriguez, Ivan Rossetti and Ying Hao Chen designed VOISE, a decentralized music streaming and downloading platform that aims to monetize independent artists.
  • “In order to promote the VOISE platform between artists and users that are not very familiar with cryptocurrency we would like to make it easier for them to pay and get paid with their country’s currency if they want to.
  • We plan to give benefits to artists and users who use VOISE tokens to promote the usage of cryptocurrency but both artists and users will be free to use their currency.”
  • Although most of the artists are unfamiliar with crypto currency they liked the idea to be featured on the platform and they just asked to receive credit for their music.
  • Built around Ethereum’s smart contract technology, the users can store the tokens on their personal desktop wallets or on the VOISE platform, send them to their friends or trade on the cryptocurrency exchanges, just like any other ETH token.

It is not a big secret there are a lot of money in the music industry, specially for the music labels, and now in the digital age, for the few dominant download platforms as well. Although in the last decade a lot of things changed in the distributions model, not very much changed in the pockets of independent artists.
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