Mark T. Uyeda urges regulatory updates for digital assets to boost financial market growth. Continue Reading: SEC Official Calls for Modernized Rules on Asset Tokenization The post SEC Official Calls for Modernized Rules on Asset Tokenization appeared first on COINTURK NEWS .
ZK is consolidating in a narrow weekly range while the main downtrend remains unbroken; $0.0188 support is critical. Bearish bias prevails, BTC weakness may increase alt pressure.
BitcoinWorld Gold Price $5,000: The Puzzling Struggle Against a Supportive Macroeconomic Backdrop Global gold markets present a compelling paradox in early 2025: despite numerous macroeconomic tailwinds that traditionally propel the precious metal higher, the $5,000 per ounce threshold remains an elusive barrier. This resistance persists even as inflation concerns, geopolitical tensions, and currency fluctuations create what analysts describe as a “perfect storm” for gold appreciation. Market data from the London Bullion Market Association shows gold has tested the $4,950-$4,990 range seven times in the past quarter, yet each attempt lacks the momentum for a decisive breakthrough. The failure to establish a firm foothold above $5,000 raises significant questions about underlying market dynamics and investor psychology in the current financial landscape. Gold Price $5,000: Technical Resistance Meets Macroeconomic Support Technical analysts identify the $5,000 level as a major psychological and historical resistance point. Chart patterns from the past decade reveal this threshold has acted as both a ceiling during bull markets and a floor during corrections. Meanwhile, the macroeconomic environment appears overwhelmingly supportive. The Federal Reserve’s latest minutes indicate a cautious approach to interest rate adjustments, typically a positive signal for non-yielding assets like gold. Additionally, central bank gold purchases reached 1,037 metric tons in 2024 according to World Gold Council data, marking the second-highest annual total on record. This institutional demand creates a fundamental floor for prices, yet the breakthrough above $5,000 remains incomplete. Several factors contribute to this price ceiling phenomenon. First, algorithmic trading systems have established automated sell orders clustered around the $4,980-$5,020 range. These automated responses create immediate selling pressure whenever prices approach the threshold. Second, profit-taking behavior emerges consistently near round-number benchmarks. Historical data from the COMEX exchange shows increased selling volume typically occurs at $100 increments, with $5,000 representing the most significant of these psychological barriers. Third, options market activity reveals substantial open interest in $5,000 strike puts, creating natural resistance as market makers hedge their positions. Macroeconomic Backdrop Analysis for Precious Metals The current economic landscape presents multiple supportive elements for gold appreciation. Inflation metrics, while moderating from 2023 peaks, remain above central bank targets in major economies. The European Central Bank reports core inflation at 2.8% as of January 2025, while the Bank of Japan continues its yield curve control policies. Geopolitical tensions in multiple regions have increased safe-haven demand, with the Global Peace Index recording its third consecutive annual decline. Currency markets show particular dollar weakness against emerging market currencies, traditionally a catalyst for dollar-denominated gold prices. Despite these favorable conditions, competing asset classes attract investment flows that might otherwise support gold. Consider these comparative returns from Q4 2024: Asset Class Q4 2024 Return Volatility (Annualized) Gold Bullion +4.2% 14.3% S&P 500 Index +8.7% 16.1% 10-Year Treasury +3.1% 9.8% Bitcoin +22.4% 62.5% This comparative performance reveals gold’s relative underperformance despite its lower volatility profile. The equity market’s resilience, particularly in technology sectors, continues to draw capital that historically flowed toward defensive assets during uncertain periods. Furthermore, real interest rates in the United States have stabilized near 1.2%, reducing the opportunity cost of holding gold compared to yield-bearing alternatives. Expert Perspectives on Market Dynamics Dr. Anya Sharma, Chief Commodities Strategist at Global Markets Research, provides crucial insight into this market anomaly. “The $5,000 resistance represents more than just a technical level,” she explains. “It embodies a fundamental reassessment of gold’s role in modern portfolios. While macroeconomic conditions appear supportive on paper, investors now evaluate gold against a broader array of inflation hedges and safe-haven assets.” Sharma references increased allocations to Treasury Inflation-Protected Securities (TIPS) and select commodities as competing stores of value. Michael Chen, Portfolio Manager at Precious Metals Fund Advisors, highlights structural market changes. “The physical gold market shows remarkable strength, with Shanghai Gold Exchange withdrawals reaching record levels. However, paper gold markets, particularly ETF flows, tell a different story. The SPDR Gold Shares (GLD) experienced net outflows of $1.2 billion in December 2024 alone.” This divergence between physical and paper markets creates conflicting price signals that manifest as resistance at key levels. Historical Context and Future Projections Gold’s relationship with round-number thresholds follows established historical patterns. The $1,000 level required twelve separate tests between 2008-2009 before achieving a sustained breakthrough. Similarly, the $2,000 barrier saw multiple rejections throughout 2020-2021 before establishing support. This historical precedent suggests the current struggle at $5,000 represents normal market behavior rather than fundamental weakness. The 200-day moving average currently sits at $4,650, providing substantial technical support approximately 7% below current levels. Future price trajectories depend on several converging factors: Central Bank Policies: The Federal Reserve’s balance sheet normalization timeline Currency Markets: Dollar index performance against major trading partners Geopolitical Developments: Resolution or escalation of current conflicts Inflation Trajectory: Whether disflationary trends continue or reverse Technological Factors: Blockchain-based gold products and their market impact Market participants closely monitor these variables for signals about gold’s next directional move. The Commitment of Traders report shows commercial hedgers maintaining near-neutral positions, suggesting professional traders see balanced risk at current levels. Meanwhile, managed money positions show moderate net longs, indicating speculative interest remains present but cautious. Conclusion Gold’s inability to sustain gains above $5,000 despite supportive macroeconomic conditions reveals the complex interplay between technical factors, investor psychology, and competing asset classes. The precious metal faces not only chart-based resistance but also structural market changes that redefine its role in global portfolios. While fundamental drivers remain broadly positive, breakthrough above this psychological barrier requires either significantly stronger catalysts or a period of consolidation below it. Market participants should monitor physical demand patterns, central bank activity, and currency movements for signals about when the $5,000 gold price level might transition from resistance to support in this evolving financial landscape. FAQs Q1: Why is $5,000 such an important level for gold? The $5,000 level represents a major psychological barrier and historical resistance point. Round-number thresholds often attract significant trading activity, with automated systems placing orders and investors making decisions based on these benchmarks. Historically, gold has struggled at similar round numbers before achieving breakthroughs. Q2: What macroeconomic factors typically support higher gold prices? Several factors traditionally support gold: high inflation eroding currency value, low or negative real interest rates reducing opportunity costs, geopolitical uncertainty increasing safe-haven demand, and dollar weakness making gold cheaper in other currencies. Currently, many of these factors are present yet gold struggles at $5,000. Q3: How do central bank purchases affect the gold market? Central bank purchases create fundamental demand that supports price floors. In 2024, central banks purchased over 1,000 metric tons of gold, providing consistent buying pressure. However, these purchases often occur through bilateral agreements rather than open markets, limiting their immediate price impact while creating long-term support. Q4: What’s the difference between physical and paper gold markets? Physical gold markets involve actual bullion bars and coins, while paper markets include ETFs, futures, and options. Recently, physical markets show strength with record Asian demand, while paper markets experience outflows. This divergence creates conflicting signals about market sentiment. Q5: How long might gold remain below $5,000? Historical patterns suggest gold could test the $5,000 level multiple times before achieving a sustained breakthrough. The $1,000 level required twelve tests over two years, while $2,000 needed eight attempts. Current market conditions suggest continued volatility around this level until a significant catalyst emerges. This post Gold Price $5,000: The Puzzling Struggle Against a Supportive Macroeconomic Backdrop first appeared on BitcoinWorld .
Shiba Inu (SHIB) continued to trade sideways on Monday following a turbulent week, which saw its price revisit key historical support levels.
Cardano’s native token ADA is caught between emerging institutional interest and persistent selling pressure, with prices trading in a tight range around roughly $0.27 as of this week. Related Reading: Convicted FTX CEO SBF Cries ‘Biden Lawfare’ In Trump Pardon Pitch According to current market data, ADA’s price sits near $0.2670, with modest intraday fluctuation and a market capitalization approaching $9.6 billion. This reflects a notable slide from its 2021 peak above $3 but shows the coin remains among the top crypto assets by market cap. The broader picture emerging from price action, on-chain metrics, and derivative markets points to a market at a crossroads. Sellers still influence price direction, yet some signals hint at a potential shift if conditions change. Cardano (ADA) Selling Pressure Persists Amid Structural Weakness Technical indicators in recent market reports show Cardano (ADA) struggling to break above key resistance zones, reinforcing the idea that sellers currently hold the upper hand. Price action remains below several important moving averages, a sign traders interpret as a bearish bias, and momentum oscillators such as the RSI and MACD reflect neutral to weak momentum. Volume metrics are also subdued, running below their averages, suggesting limited conviction behind price moves. Chart patterns further underscore this uncertainty. Analysts have noted Cardano trading within a long-standing descending formation, a structure that historically signals continued downside risk if breached to the downside. A failure to hold critical support levels near recent lows could exacerbate losses, with analysts pointing to deeper retracement zones if sellers regain aggressive control. Despite these pressures, some on-chain indicators show that selling incentives have eased, with a significant drop in the share of ADA held in profit compared to recent weeks. Institutional Interest and Market Dynamics Parallel to the technical backdrop, institutional engagement with Cardano has increased. Regulated futures products recently launched on major exchanges have broadened access for professional investors, marking a milestone that places Cardano derivatives alongside established assets like Bitcoin and Ethereum. Grayscale and other funds have also reportedly adjusted allocations to include ADA, signaling a degree of longer-term interest from some financial firms. Related Reading: Important Bitcoin Macro Cycle Durations You Should Know About However, open interest in Cardano futures has at times shown sharp declines, an indicator that leverage and speculative positioning have cooled. This divergence between structural adoption and active trading participation highlights the complexity of Cardano’s current market environment. Cover image from ChatGPT, ADAUSD chart on Tradingview
BitcoinWorld Vega Security’s Revolutionary $120M Funding Fuels AI-Powered Cybersecurity Transformation In a significant development for enterprise cybersecurity, Vega Security has secured $120 million in Series B funding to challenge the decades-old security information and event management (SIEM) model dominated by Splunk. The funding round, led by Accel with participation from Cyberstarts, Redpoint, and CRV, values the two-year-old startup at $700 million and signals a major shift in how organizations approach threat detection in cloud environments. This investment comes as enterprises struggle with exploding data volumes and the limitations of centralized security architectures. Vega Security’s Distributed Approach to Cybersecurity Modern enterprises face unprecedented cybersecurity challenges as data volumes explode across distributed cloud environments. Traditional SIEM solutions require organizations to centralize all security data before analysis, creating significant cost, complexity, and latency issues. Vega Security fundamentally rethinks this approach by implementing security where data already lives—within cloud services, data lakes, and existing storage systems. The company’s AI-native security operations suite enables real-time threat detection without massive data migration. This distributed architecture represents a paradigm shift from the centralized models that have dominated cybersecurity for twenty years. Consequently, organizations can achieve faster threat response while reducing infrastructure costs and operational complexity. The Legacy SIEM Challenge Legacy SIEM systems like Splunk, which Cisco acquired for $28 billion in 2024, face mounting criticism for scalability limitations in cloud environments. These systems struggle to process the exponential data growth driven by artificial intelligence adoption and cloud migration. Shay Sandler, Vega’s co-founder and CEO, explains that the traditional model not only proves “crazy expensive” but also increases exposure to threat actors in complex cloud architectures. Andrei Brasoveanu, Accel partner, emphasizes the fundamental problem: “Splunk and every contender since has always centralized the data, but by doing that you essentially hold the customer hostage.” This centralized approach creates vendor lock-in, limits flexibility, and forces enterprises into costly data management practices that don’t align with modern cloud architectures. Market Validation and Enterprise Adoption Despite being only two years old, Vega Security has demonstrated remarkable market traction. The 100-person startup has secured multi-million-dollar contracts with major banks, healthcare companies, and Fortune 500 firms, including cloud-heavy organizations like Instacart. This rapid adoption signals strong market demand for alternatives to traditional SIEM solutions. Sandler attributes this success to addressing a critical pain point: “The only reason they would do that with a two-year-old startup is because the problem is so painful and other solutions on the market require an unrealistic expectation that the enterprise change the way they operate or do two years of data migrations.” Vega’s “plug and play” approach enables immediate detection response value without requiring organizations to overhaul their existing infrastructure. Vega Security Funding and Market Position Metric Value Series B Funding $120 million Total Funding $185 million Valuation $700 million Company Age 2 years Team Size 100 employees Key Investors Accel, Cyberstarts, Redpoint, CRV Founder Expertise and Industry Background Vega’s leadership brings substantial cybersecurity credibility to the venture. Shay Sandler served in the Israeli military’s cybersecurity unit before becoming a founding employee at Granulate, which Intel acquired for $650 million in 2022. After a year at Intel, Sandler decided to pursue a larger opportunity in cybersecurity. This pedigree attracted investor attention and provides Vega with deep industry understanding. The company’s approach combines technical innovation with practical enterprise experience. Sandler emphasizes that Vega’s “North Star” was building a solution that is not only more cost-effective and better at threat detection but also “no drama, as simple as possible for the biggest, most complex enterprises in the world to adopt it within minutes.” This focus on enterprise usability differentiates Vega from many cybersecurity startups that prioritize technology over implementation practicality. Industry Context and Competitive Landscape The cybersecurity market continues evolving rapidly as organizations accelerate cloud adoption and digital transformation. Several key trends are shaping the competitive landscape: Cloud Migration Acceleration: Enterprises are moving critical workloads to cloud environments at unprecedented rates, creating new security challenges that legacy tools weren’t designed to address. AI and Machine Learning Integration: Security platforms increasingly incorporate artificial intelligence for threat detection, pattern recognition, and automated response capabilities. Data Volume Explosion: Organizations generate security data at rates that overwhelm traditional centralized processing architectures. Regulatory Pressure: Compliance requirements across industries demand more sophisticated security monitoring and reporting capabilities. Vega Security enters this market with timing that aligns with enterprise needs for cloud-native security solutions. The company’s distributed approach addresses fundamental architectural limitations of traditional SIEM systems while leveraging modern cloud capabilities. This positions Vega to capture market share as organizations reevaluate their security infrastructure investments. Investment Rationale and Growth Plans Accel’s leadership in the funding round reflects confidence in Vega’s approach and market potential. The $120 million investment will support several strategic initiatives: Product Development: Further enhancement of Vega’s AI-native security operations suite with additional detection capabilities and integration options. Team Expansion: Building out go-to-market teams to support enterprise sales and customer success initiatives. Global Growth: Expanding operations internationally to address growing demand across geographic markets. Technology Partnerships: Developing integrations with major cloud platforms, data management systems, and security ecosystems. This substantial funding enables Vega to scale operations while maintaining technological innovation. The company’s valuation increase from previous rounds demonstrates investor confidence in both the team and the market opportunity. Technical Architecture and Innovation Vega Security’s platform represents a fundamental rethinking of security operations architecture. Rather than forcing data centralization, the system processes security information where it resides. This distributed approach offers several advantages: Reduced Latency: Threat detection occurs closer to data sources, enabling faster response times. Lower Costs: Organizations avoid expensive data transfer and storage requirements associated with centralized SIEM systems. Improved Scalability: The distributed architecture scales naturally with cloud environments and data growth. Enhanced Privacy: Sensitive data can remain within controlled environments rather than being transferred to external systems. The platform’s AI-native design enables sophisticated threat detection without requiring massive data aggregation. Machine learning algorithms analyze patterns across distributed data sources while maintaining data locality. This approach aligns with modern data governance requirements and cloud security best practices. Enterprise Implementation and Migration Vega emphasizes simplicity in enterprise adoption, recognizing that complex migration processes often hinder security modernization. The platform integrates with existing infrastructure through several mechanisms: Cloud Service Integration: Direct connections with major cloud platforms including AWS, Azure, and Google Cloud. Data Lake Compatibility: Support for popular data lake architectures and storage systems. Legacy System Connectivity: Integration capabilities with existing security tools and monitoring systems. API-First Design: Comprehensive APIs for custom integration and automation scenarios. This integration approach enables organizations to implement Vega’s platform incrementally while maintaining existing security investments. The company’s focus on “no drama” implementation reflects practical understanding of enterprise technology adoption challenges. Market Impact and Future Outlook Vega Security’s funding and growth trajectory signal broader industry shifts in cybersecurity architecture and investment. Several factors suggest continued momentum for distributed security approaches: Cloud-Native Adoption: As organizations build new applications using cloud-native architectures, they require security solutions designed for distributed environments. Edge Computing Growth: The expansion of edge computing creates additional distributed security challenges that centralized tools cannot effectively address. AI-Driven Security: Advanced threat detection increasingly relies on machine learning algorithms that benefit from distributed data processing. Cost Optimization Pressure: Enterprises seek security solutions that reduce total cost of ownership while improving protection capabilities. The cybersecurity market continues evolving toward more distributed, intelligent, and automated solutions. Vega’s approach aligns with these trends while addressing specific pain points in enterprise security operations. The company’s rapid customer acquisition demonstrates market readiness for alternatives to traditional SIEM systems. Conclusion Vega Security’s $120 million Series B funding represents a significant milestone in the evolution of enterprise cybersecurity. The investment validates the company’s distributed approach to threat detection and positions it for accelerated growth in the competitive security market. By challenging the centralized SIEM model that has dominated for decades, Vega addresses critical limitations in traditional security architectures while leveraging modern cloud capabilities and AI technologies. The company’s focus on practical enterprise implementation, combined with strong technical innovation, creates a compelling value proposition for organizations struggling with cloud security challenges. As data volumes continue exploding and cloud adoption accelerates, Vega’s distributed security approach offers a path forward for enterprises seeking effective threat detection without the cost and complexity of traditional solutions. The substantial funding enables Vega to scale its vision while maintaining the technological edge that has driven early market success. FAQs Q1: What problem does Vega Security solve for enterprises? Vega addresses the limitations of traditional SIEM systems in cloud environments by providing distributed threat detection that processes security data where it resides, eliminating the need for costly data centralization while improving detection speed and reducing infrastructure expenses. Q2: How does Vega’s approach differ from traditional SIEM solutions? Unlike traditional SIEM systems that require data centralization before analysis, Vega’s platform performs threat detection within existing cloud services, data lakes, and storage systems. This distributed architecture reduces latency, lowers costs, and improves scalability for cloud-native environments. Q3: What is Vega Security’s funding status and valuation? The company has raised $185 million in total funding, including a recent $120 million Series B round led by Accel. This investment values Vega at $700 million and will support product development, team expansion, and global growth initiatives. Q4: Which types of organizations are adopting Vega’s platform? Vega has secured multi-million-dollar contracts with major banks, healthcare companies, Fortune 500 firms, and cloud-heavy organizations like Instacart. These enterprises are attracted to Vega’s ability to provide immediate detection capabilities without requiring extensive data migration or infrastructure changes. Q5: What makes Vega’s founders qualified to address enterprise cybersecurity challenges? CEO Shay Sandler served in the Israeli military’s cybersecurity unit and was a founding employee at Granulate, which Intel acquired for $650 million. This combination of cybersecurity expertise and enterprise technology experience provides Vega with deep understanding of both security challenges and practical implementation requirements. This post Vega Security’s Revolutionary $120M Funding Fuels AI-Powered Cybersecurity Transformation first appeared on BitcoinWorld .
Ethereum was trading between $2,014 and $2,028 per coin on Feb. 10, while derivatives markets told a far louder story beneath the surface. Futures open interest remains elevated, options positioning is heavily skewed toward calls, and max pain levels across major exchanges cluster uncomfortably close to spot. Ethereum Derivatives Flash Mixed Signals Across Binance, OKX,
Backpack links its token launch to an upcoming U.S. IPO to protect investors. Continue Reading: Backpack Unveils Innovative Tokenomics Model Tied to U.S. IPO Plans The post Backpack Unveils Innovative Tokenomics Model Tied to U.S. IPO Plans appeared first on COINTURK NEWS .
Polymarket will partner with Kaito AI, the popularity-focused aggregator. The prediction platform may launch markets based on popularity and opinion. Polymarket may open markets for the influence and popularity of trends, brands, and people. The prediction market partnered with Kaito AI, one of the leading influence-tracking and SocialFi platforms. We're taking the next step into Attention Markets, built in partnership with @Polymarket – the next stage in predicting internet trends! Prediction Markets are becoming a core part of not only crypto, but everyday life more widely. Measurable attention opens up a new way for… pic.twitter.com/cI8E6b2RFV — Kaito AI 🌊 (@KaitoAI) February 10, 2026 The partnership arrived just weeks after Kaito had to reinvent its model. After X revoked access to its API for SocialFi projects, Kaito switched to other metrics of popularity and influence. On its side, Polymarket kept offering a wider variety of small markets, with a test run of ‘attention markets’ in January. Polymarket is quick to expand to new areas of interest, including the recent AI agent trend, Moltbook . Polymarket to track public attention Polymarket has mostly focused on organic events and politics for its markets. Attention markets will be a novel way to track trends and influence. ‘ These new markets will quantify the volume and changes in public attention based on data from social media, ’ said Kaito CEO Yu Hu. Polymarket and Kaito will still track data across X, TikTok, Instagram, and YouTube, using Kaito’s method of determining mindshare. The tracking will also produce a positive or negative sentiment metric. Based on the data, Polymarket will be able to launch new pairs, such as the sentiment on companies or VIPs. Polymarket has already launched other markets powered by Kaito, including the tracking of its own mindshare. Dozens of attention markets are expected in March Dozens of new attention markets are expected in early March, and thousands by the end of the year. Attention markets can also track individual influencers or KOLs in the crypto space and general social media circles. Polymarket will offer a way to tokenize and trade Internet celebrity events and trends. Attention markets are yet another trend somewhat similar to current news tokens or content-based memes, which track short-term Internet news or events. ‘ It’ll be a completely new experience when people can scroll through social media and realize they can express their views on what they are seeing and take a side with it on these markets, ’ said Polymarket’s head of crypto, Thibault Alizard. Currently, the focus of Polymarket is on specific personalities and events, but it may broaden to AI topics and even more niche Internet events. Polymarket still carries peak activity Polymarket still carries near-peak activity based on active wallets and transactions. Most of the platform’s users trade five or more pairs, but a growing number only choose one market. Most of the bets are made for markets with 40% to 60% probability, with only 0.5% of all bets placed on odds below 5%. Those low-probability bets are used for trading in a small range, often leading to 100% growth. Polymarket predictions now carry relatively small volumes. The leading pair on potential US strikes on Iran reached a volume of $282M, while the next Fed decision invited over $82M in trading. Other pairs are smaller, with volumes often under $1M. The smartest crypto minds already read our newsletter. Want in? Join them .
Members of the Russian parliament have passed provisions allowing the state to treat cryptocurrency as property as part of criminal proceedings. The new legislation unties the hands of law enforcement and judicial authorities in a growing number of cases requiring the seizure of digital assets. Russian lawmakers adopt law regulating crypto seizure The State Duma, the lower house of the Russian legislature, approved a law introducing a procedure for seizing and confiscating cryptocurrency in crime-related cases. The legislation, which amends the country’s Criminal Code and Criminal Procedural Code, recognizes digital currencies like Bitcoin (BTC) as property. On Tuesday, members of the chamber passed the federal Law on its third and final reading, the Interfax news agency and the business news outlet RBC reported. It regulates the actions of investigators as well as the methods employed to conduct the seizure of such assets, allowing them to either establish control over physical devices like servers, computers, and hardware wallets or transfer the coins to dedicated safe addresses, if possible. The document establishes a mechanism for seizing cryptocurrency for the purpose of subsequent confiscation or to secure a civil claim, the reports noted. The protocol for each crypto seizure must specify the type of currency, its amount, and the respective addresses. Access information and storage media must be kept sealed. The bill was first submitted to the Duma in the spring of last year. It’s expected to be approved by the Federation Council, the upper house of parliament, and enter into force 10 days after its publication. The executive power in Moscow will then introduce the necessary bylaws governing the storage and transfer of seized crypto funds. Crypto confiscation gets regulated before other operations Russia is yet to properly regulate the full spectrum of crypto-related transactions in its jurisdiction. According to officials in Moscow, this is going to happen by July 1, at the latest. Upcoming legislation will be based on a new regulatory concept unveiled by the Central Bank of Russia (CBR) in late December 2025, as reported by Cryptopolitan. The document envisages recognizing cryptocurrencies and stablecoins also as “monetary assets,” widening investor access and legalizing trading on licensed exchanges. The rules for coin seizure come after Russia’s Constitutional Court upheld the rights of cryptocurrency owners, including to judicial protection. The review was prompted by the case of a Russian citizen who sought the return of 1,000 USDT he had temporarily transferred to an acquaintance. Lower courts had rejected his claim based on his failure to inform the Federal Tax Service (FNS) about his holdings. There have been a few similar precedents in the country. In January, local media revealed that the office of the Federal Bailiff Service in the Krasnodar Krai region had seized the digital assets of a man who failed to pay child support to his ex-wife. Other cases have been only partially resolved. A Russian court recently ordered the seizure of the property of a former employee of the interior ministry convicted of accepting a 5 billion-ruble bribe in cryptocurrency. It remained unclear whether his digital holdings were actually arrested. Deputy Justice Minister Elena Ardabyeva was quoted as stating earlier that the new law consolidates the existing practice of seizing digital assets during investigations, both from cold and hot wallets. Russian authorities plan to also rely on the cooperation of foreign exchanges for such measures. Law enforcement and judicial officials will also be able to request quotes for the market value of cryptocurrency holdings and seize other assets within that total to cover financial losses inflicted by persons and entities. If you're reading this, you’re already ahead. Stay there with our newsletter .