... blockchain industry stimulates the influx of crypto startups. At the same time, mainland China, while retaining a ban on crypto trading, is focusing on developing its own blockchain solutions and expanding the use of its digital currency (the digital yuan). Middle East: A number of Middle Eastern countries actively promote cryptocurrency initiatives. The United Arab Emirates have created favorable conditions for the industry: Dubai has a specialized regulator (VARA) and a cryptocurrency business ...

... significant portion of other expenses. The company likely maintains an excess of currency liabilities over assets in foreign currency; thus, the ruble's depreciation leads to losses from currency debt revaluations. For instance, eurobonds, loans in yuan, and other foreign currency borrowings have "weighed heavier" when converted to rubles, creating hundreds of billions of rubles in exchange losses. In 2024, a similar mechanism resulted in extremely large negative balances in other operations....

... to advanced data storage systems. Beijing and Shanghai Launch Giant Funds for Tech Startups Event: The largest cities in China are enhancing innovation support: the authorities of Beijing and Shanghai have created state venture funds of 100 billion yuan each (around $13.8 billion) to invest in advanced technology startups. The funds are targeted at projects in the fields of artificial intelligence, robotics, chips, and other strategic areas and will be formed with the participation of private capital....

... Players. On the horizon are new stablecoins, including national ones. The European Union, having adopted MiCA, will likely stimulate the emergence of euro-pegged stablecoins under the oversight of European banks. China is actively testing its digital yuan (e-CNY), although it functions differently and has yet to enter global circulation. In the US, discussions surrounding a digital dollar (CBDC) continue: limited pilots may commence in 2025, but broad accessibility is not expected for several years....