Crypto NFT Today: Latest news in blockchain, cryptocurrency and NFT: January 18-24, 2022

Welcome to another edition of Crypto NFT Today! If you enjoy cryptocurrencies, NFTs and an emotional rollercoaster ride, this is the place to be.

Are you ready for the crunch? let’s get started.

Russia and Iran partner on stablecoin initiative

Russia and Iran are reportedly working together to create a stable currency backed by gold.

According to Russian news agency Vedomosti, Iran is working with Russia to create a “Persian Gulf region token” that would serve as a payment method in foreign trade.

Russia recently began accepting Iranian cargo shipments to a special economic zone called Astrakhan, and the proposed cryptocurrency would help facilitate transactions in the region.

Russia and Iran are among the countries that have banned cryptocurrency transactions, including bitcoin and tether, but Russia’s lower house of parliament recently pledged to regulate crypto once again in 2023.

Russian lawmaker Anton Tkachev, a member of the Committee on Information Policy, Information Technology and Communications, stressed that a joint stablecoin project would be possible only after the digital asset market is fully regulated in Russia.

Trending Dr. Wolfgang Smith Combines Physics and Philosophy in New Book

Bitcoin Back in Business?

Bitcoin soared above $21,000 on January 13 and surpassed the $21,500 mark on Wednesday. The early gains are now begging the attention of bitcoin skeptics, begging the question: Where will bitcoin go from here?

While we are still technically in a bear market, investor sentiment is improving. According to the Fear and Greed Index, a crypto-specific metric that measures sentiment using five weighted sources, investor sentiment about the market reached a monthly high.

However, many analysts believe that bitcoin should continue to hover above the 21K mark seen in the past weeks before the price starts to accelerate.

Coinbase to Halt Operations in Japan

Coinbase is halting its operations in Japan due to the business slowdown in the country.

The crypto exchange originally started planning its Japanese expansion in 2018 during the bear market. Now, with the FTX decline still affecting the overall market, Coinbase has decided to regroup and put its Japanese operations on hiatus.

Coinbase officially announced on January 18 that the firm would cease operations in Japan and conduct a complete review of its business in the country due to market conditions.

All customers of Coinbase Japan will have until February 16 to withdraw their fiat and crypto holdings from the platform. After February 17, all remaining crypto assets held by Coinbase Japan customers will be converted to Japanese yen. According to Cointelegraph, fiat currency deposits will no longer be available starting January 20th.

New Report Names ‘Crypto Valley’ Most Mature Blockchain Hub

The CV VC Top 50 Report 2022 was presented today in Davos and shows that Crypto Valley, which includes Switzerland and Liechtenstein, is the most mature blockchain hub.

It continued to expand in 2022 due to its regulatory jurisdiction and a determined decentralized mindset displayed by the 1,135 entities created from there.

The CV VC Top 50 Report 2022 reveals that blockchain is developing into a multi-billion dollar industry in Crypto Valley.

Why Is Bitcoin Rallying?

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