Tap Send co-founder and CEO Paul Niehaus revealed why his company focused on remittances even though today’s market appears to be congested in comments made after the investment round.

The Russian Central Bank will collect information on crypto-related transactions between individuals.

The Bank of Russia will request further data from financial institutions processing individual transfers as part of its efforts to crack down on some transactions it considers illicit. According to local media, the action affects a variety of platforms that use accounts established in the names of dummy people, including online bookies and websites that provide crypto trading services.

The regulator had handed banks a new transaction reporting form, according to RBC, a Russian business news portal. According to the first report, the CBR aims to obtain data on money transactions between Russians, including the senders’ data and payments’ recipients.

Prosecutors in Germany hired a local bank to 'clean' seized cryptocurrency worth $113 million

The monetary authority later explained in a press release cited by Prime that the measure is "aimed at identifying risk areas connected to the use of payment cards and wallets issued to fictitious people by cryptocurrency exchangers, online casinos, and unscrupulous participants in the financial market for settlements with Russian citizens," rather than imposing total control over individual transactions.

The Bank of Russia went on to say that it only wants to acquire anonymized data from financial organisations that provide payment services to individuals if their platforms are being used for criminal activities. It also stated that it does not intend to implement new reporting processes for all transactions, explaining that it was referring to specific circumstances in which huge sums of money are sent in many transactions to the same recipient within hours.

Ray Dalio, a billionaire, sees a limit on Bitcoin's value and doubts it will ever reach $1 million.

In an interview with Lex Fridman published Saturday, Bridgewater Associates founder Ray Dalio discussed how high he believes the price of bitcoin could go. Dalio is the chairman and co-chief investment officer of Bridgewater Associates. Endowments, governments, foundations, pension funds, and sovereign wealth funds are among his firm's clientele.,

The CEO of Bridgewater Associates was asked if he believes the value of bitcoin may reach a very high level, such as $1 million. Dalio quickly responded:

That isn't possible, in my opinion.

"The way I see it," he explained, "there's a certain quantity of it [bitcoin] and there's a certain amount of gold." "I'll use gold as a standard," he added, noting that bitcoin's market cap is currently at $1 trillion and the total crypto market cap is around $2.2 trillion.

"If you take the amount of money in gold that isn't utilised for jewellery or by central banks — and I think bitcoin won't be used for either — that amount of gold is roughly $5 trillion," he stated. "Right now, if you had a portfolio that included gold and... bitcoin, it would be worth around 20% of the value of gold."

The billionaire stated emphatically that he does not believe bitcoin will ever be more valuable than gold. He confirmed, "I think that 20% seems about right," but admitted, "I honestly don't know what the appropriate answer is."
"If you use gold as a metric, it just makes no sense that it will be utilised that much more," the Bridgewater founder concluded. While acknowledging that he is "not sure about anything," he does say that he is "not sure about anything."

Do you think there is a limit to Bitcoin value, as stated by Ray Dalio?