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Review of the Main Events in January in the Crypto Space

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Review of the main events in January in the crypto space

In the first month of winter, several events will take place at once, which may affect both the cost of individual coins and the crypto market as a whole.

Law on digital financial assets in Russia

On January 1, the Law on Digital Financial Assets entered into force in Russia. The law was adopted on June 22, 2020, three years after President Vladimir Putin gave the first order to develop it. Now cryptocurrency is recognized as property, but in Russia, it is still prohibited to use it to pay for goods and services. Read more here.

Updating on the NEM Network

On January 14th, a snapshot of the NEM (NIS1) network will be taken and users will receive XYM tokens on the new NIS2 network at a 1: 1 ratio. The update has supported most of the major exchanges and wallets. For the launch of the update, the NEM developers have prepared several events for users: a meme contest, a trading contest with a $ 100,000 prize fund, a hackathon with a $ 22,000 prize fund, and the opportunity to get into the NEM Ignite incubator program. It will end with the Symbol update launch party. Learn more about the launch of a new blockchain on the project website.

Can be affected on NEM price

Delisting XRP from exchanges and wallets

From January 5, Swipe users will not be able to fund their XRP (Ripple token) account and exchange it. The withdrawal option will remain. Binance.US has also been delisting XRP since January 15, and since January 19, Crypto.com clients from the United States will not be able to replenish their balances and trade XRP.

Representatives of the Binance.US and Crypto.com exchanges emphasized that despite the delisting, they will continue to support the free distribution of Spark (FLR) tokens of the Flare Network project for XRP holders. A snapshot of the balances was taken on December 12, 2020, and the FLR token distribution will occur in the first half of 2021. Read more here.

At the end of last year, the US Securities and Exchange Commission (SEC) accused the creators of the Ripple project of selling unregistered securities for $ 1.3 billion, after which the value of XRP fell sharply.

Can be affected on XRP Price

Several projects have a hard fork planned for the first month of 2021. Blockchains of several small projects will be updated: Zcoin, Grin, Peepcoin, Ergo, Vertoing. The developers remind that it will be necessary to update their software to the current version (nodes, wallets, miners).

Can be affected on the cost of Zcoin, Grin, Peepcoin, Ergo, Vertoing.

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Disclaimer: Bitxmi News is a news portal and does not provide any financial advice. Bitxmi's role is to inform the cryptocurrency and blockchain community about what's going on in this space. Please do your own due diligence before making any investment. Bitxmi News won't be responsible for any loss of funds.

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