Thailand allows Ethereum-based real estate IFOs

El Salvador's government bought an additional 150 BTC, while the Bank of Russia spoke "strongly against" cryptocurrencies - these and other cryptocurrency market news in our daily review.

El Salvador's President Nayib Buquele said the authorities bought an additional 150 bitcoins on the first crypto's slideup to $45,000.

The Turkish authorities and the central bank have no problem with openness to cryptocurrencies, on the contrary, they are "waging a separate war and fight" against them, President Recep Tayyip Erdogan said, BloombergHT writes. According to him, the country will not promote the spread of private digital assets, but will continue to use its owncurrency.

The Central Bank of Russia is paying close attention to cryptocurrencies due to their use in anonymous settlements between citizens, Interfax wrote with reference to Ilya Yasinsky, director of the financial monitoring and currency control department of the regulator. According to him, due to the high volatility of digital currenciescannot be considered by Russians as an investment instrument.

"The policy of the Bank of Russia at the moment is that we are categorically against crypto," Yasinsky said.

Metropolitan law enforcers have detained a man suspected of defrauding a Moscow resident in apurchase of cryptocurrency. According to the Interior Ministry, the victim transferred bitcoins worth more than 7 million rubles to the fraudster during a personal meeting.

Bitcoin is a monetary standard, which one day may become the world's reserve currency. This opinion was expressed by SkyBridge Capital CEO Anthony Scaramucci on Career Stories podcast.

The Securities and Exchange Commission of Thailand (SEC) has granted a subsidiary of Hong Kong-based fintech startup Fraction Group a dedicated service license/ The firm is allowed to place and trade Ethereum tokens for physical and digital assets.

The firm was founded three years ago by former Lazard investment bank partner Eka NiraEka Nirapathpongporn (Eka Nirapathpongporn). It positions the platform as a place to invest, sell and manage stakes in assets ranging from urban condominiums to artwork to private foundations.

"Fraction offers the first SEC-approved implementation of Ethereum-based blockchain technology for equity managementm ownership of multiple assets," said Sean Sales, the firm's co-founder and CTO.

Under the first IFO, investors will be offered stakes in landmark properties built by developers Magnolia Quality Development Corporation, Charn Issara and Nirvana Daii in the capital and islands. They have a combined value of 15 billion Thai baht ($462 million).

For the pThe minimum lot is sufficient for investors to have 5,000 Thai Baht (~$150). The first IFO is expected to launch in the first quarter of 2022.

Secondary circulation of tokens will be implemented through Fraction's global liquidity pool through an SEC-licensed digital asset broker called KULAP.

As a reminder, the first regulatedSE Digital, a subsidiary of financial services provider Seamico Securities, has become the portal for ICOs in Thailand in late 2019.

In March 2021, Sumitomo Mitsui Trust Bank and security token issuance technology provider Securitize conducted a private placement of the first such instrument in Japan in accordance with local legislation.

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