Bans and the growth of cryptocurrencies – interesting and important for the week

In Ukraine, they offered to declare the bitcoin addresses of officials. Such a proposal was received by the head of the National Agency for the Prevention of Corruption Oleksandr Novikov from the organisations Virtual Assets of Ukraine and Blockchain4Ukraine. In the appeal, the authors call it necessary to rename the term "cryptocurrency" to "virtual assets'', which was enshrined in the relevant law. Thus, the legislation will be able to cover not only cryptocurrencies, but also tokens, stablecoins, NFTs, DeFi tokens and game currencies.

On April 15, the Verkhovna Rada of Ukraine supported a bill on criminal liability for hiding cryptocurrencies. Restriction of freedom up to two years and a fine of 3,000 to 4,000 non-taxable incomes of citizens ($121,700) occurs as a result of officials hiding in the declaration from $40,500 in cryptocurrency. Hidden assets in the amount of $162,300 or more face such a fine or more, as well as 2 years in prison.

The bitcoin rate updated its historical maximum, approaching the $65,000 mark. But, after the opening of the American stock market and the listing of Coinbase shares on Nasdaq, it rushed down to $ 63,000. The XRP token continued to grow in price, approaching the $2 mark for the first time in three years. The maximum quotes of $1.96 appeared due to the overall growth of the cryptocurrency market and the petition of the founders of Ripple to dismiss the SEC lawsuit.

Unfortunately, bitcoin failed to hold its position: after the Central Bank of Turkey banned payment for purchases with cryptocurrency, BTC dropped to $60,300. The country's authorities argued the ban was a possible "irreparable" damage to the national currency, which depreciated by 16% in just a month.

The Berlin hard fork occurred on the Ethereum network. The update includes four improvement proposals that will make changes to the commission accrual algorithm. Another event negatively affected the network: there was a failure with OpenEthereum nodes, after which some of its services were unavailable. A node is a computer connected to a blockchain network. On the eve of the hard fork, altcoin updated the historical maximum – $2,480 (an increase of 230% since the beginning of the year).

Dogecoin has once again risen in price against the background of publications by Elon Musk. During the week, the price of the coin has risen more than 5 times, stopping at $ 0.37. The capitalization of the cryptocurrency increased to $38.6 billion, thanks to which it took fifth place in the ranking. Within a day, the Tesla founder posted a post titled “Doge barks at the moon” and commented on another user’s picture that hinted at Dogecoin approaching $0.25

When developing the digital yuan, the expiration date function was tested. This means that after a certain time, the digital currency loses its purchasing power. The Wall Street Journal writes about it. Imagine that you received a salary in digital national currency, and you need to spend it within a month, otherwise it will simply disappear.

Artists from Kyiv tokenized the "hype" journalist Dmitry Gordon. The art association INTROVADERS created a video with his image and put it up for sale in the form of a non-fungible token (NFT). The starting price of the piece GORDONITIGATION is 0.8 WETH. Dmitry himself has not yet commented on this matter.