ethena generating $4.62m in daily fees on an $847m market cap. arthur hayes dumped his entire ENA position june 5th. 54.65m ENA OTC'd to galaxy digital same day, 14% drawdown. meanwhile coinbase ventures bought ENA on the open market at the same prices you can, and the first coinbase x ethena product launches this week with native USDe on base. coinbase has 108m verified users. hayes selling into the biggest distribution catalyst ethena has ever had is either the smartest exit or the worst timed one. watch USDe supply over the next 30 days. if it grows $500m+ the distribution thesis is confirmed and the cap makes no sense relative to fees.
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Amendments to the Criminal Code have been drafted for crypto regulation. Violations won't just result in fines.
Digital currency circulation is now a legally defined concept: transactions including transfer from one holder to another.
Russia introduces mandatory identification for all crypto operations. KYC is no longer optional β it's the law.
Digital depositories must notify clients of all changes in operating conditions. Transparency β by mandate.
The law allows using crypto to fulfill obligations under foreign trade contracts. A new channel for international settlements.
Foreign digital rights β those issued outside Russian law. Now they have their own place in legislation.
Shares of private companies can be issued as digital financial assets. Tokenization of equity β now a reality.
Address-identifier is a new legal concept in Russian law. Essentially, it's your crypto wallet with legal status.
A digital depository cannot provide access to your crypto addresses without your consent. At least some protection.