Russia to Test CBDC Next Month: Digital Ruble to Revolutionize Payments

• Societe Generale subsidiary has been granted France’s first crypto services license.
• DeFi bill introduced in Senate to hold major investors responsible for illegal use.
• Russia could begin testing a Central Bank Digital Currency (CBDC) as early as next month.

Societe Generale Subsidiary Receives France’s First Crypto Services License

A subsidiary of Societe Generale, the French investment banking group, has received approval from the Autorité des Marchés Financiers (AMF) to provide cryptocurrency services and custody solutions in France. The AMF granted Terraform Labs the approval on July 16, making it the first regulated entity in the country to offer these types of services.

DeFi Bill Introduced In Senate To Hold Major Investors Responsible For Illegal Use

A new bill introduced in the United States Senate would make major investors responsible for any illegal activities associated with their investments into decentralized finance (DeFi) projects. The bill seeks to prevent fraud and money laundering by holding those who invest large sums accountable for any damage caused by their funding decisions.

Dormant Ethereum Whale Stirs, Sending $116 Million Worth Of ETH To Kraken

A dormant Ethereum whale recently stirred up interest when it sent more than $116 million worth of ETH to crypto exchange Kraken. Several high-profile crypto wallets were among those receiving funds from this transaction, including Do Kwon, Sam Bankman-Fried, and Elon Musk’s wallet address.

Arkham’s Intel Exchange Offers High-Profile Crypto Wallet Bounties

The Intel Exchange developed by Arkham Security announced that it will be offering bounties on several high-profile crypto wallets owned by Do Kwon, Sam Bankman-Fried, and Elon Musk. This initiative is aimed at helping identify security vulnerabilities in these wallets so they can be addressed quickly before any malicious actors exploit them.

Russia Could Begin Digital Rubles Testing As Early As Next Month

According to a July 19 Bloomberg report , Russia could begin testing its Central Bank Digital Currency (CBDC), known as the Digital Ruble, as early as next month if its upper parliament approves the move and President Vladimir Putin signs it into law. The Bank of Russia plans to collaborate with 15 top lenders in order to launch a pilot scheme where individuals and companies can create digital wallets on its platform; transactions made with said wallet would be free for individuals while companies will be charged a 0.3% fee