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The New York State Assembly has passed a law prohibiting the use of PoW mines for a period of two years.

new york state assembly approves bill to place 2 year ban on pow mines

As part of New York’s Earth Day Package, the bill was passed. The law has cleared the important stage of earning the State Assembly’s approval, with 95 votes in favour and 52 votes against. Senator Kevin Parker will now carry it forward in the State Senate to get support. Governor Kathy Hochul has the option of signing it or vetoing it.

Crypto and Fed digital dollar can coexist, says Fed Chair Jerome Powell

crypto and fed digital dollar can coexist says fed chair jerome powell

Powell says nothing would prevent a well-regulated stablecoin from coexisting with a US CBDC. He also revealed that a much-awaited report on cryptocurrencies was ready for release within weeks. Cryptocurrencies and a US central bank digital currency can coexist, according to comments made by Federal Reserve Chair Jerome Powell. The Fed chair said this when … Read moreCrypto and Fed digital dollar can coexist, says Fed Chair Jerome Powell

Weekly Report: India looking to transform its crypto sector, potential CBDC trial run on the way

weekly report india looking to transform its crypto sector potential cbdc trial run on the way

The top cryptocurrencies grabbed headlines this week following a market-wide market tumble that saw over $250 billion wiped off the sector Bitcoin slid below $60,000 early on Tuesday and despites effort to bounce back, the crypto coin continued bleeding and is now trading around $58,000. Ether followed a similar path dropping to around $4,200. Both … Read moreWeekly Report: India looking to transform its crypto sector, potential CBDC trial run on the way

Nexo and Celsius ordered to cease operations in New York

nexo and celsius ordered to cease operations in new york

Cryptocurrency lending platforms are facing scrutiny from state regulators in the United States for operating without licences New York Attorney General Letitia James has issued a cease and desist to two cryptocurrency lending platforms. The platforms have been asked to stop operating in the state for failing to register as brokers with the state regulators. … Read moreNexo and Celsius ordered to cease operations in New York

New York Governor asked to refuse permits to crypto miners

new york governor asked to refuse permits to crypto miners

The letter requests that the governor deny Title V Air Permit to the two former fossil fuel facilities that are set to host crypto mining operations  A letter signed by a number of business and labour organisations has been sent to New York State Governor Kathy Hochul asking her to deny permission to convert the … Read moreNew York Governor asked to refuse permits to crypto miners

Rosengren claims US CBDC will be separate from other digital assets

rosengren claims us cbdc will be separate from other digital assets

A digital currency may be coming to the US soon, but blockchain won’t play a crucial role in its development Former President of the Federal Reserve Bank of Boston Eric Rosengren recently revealed that he does not see blockchain’s use in the long-term development of a central bank digital currency (CBDC). Rosengren arrived at this … Read moreRosengren claims US CBDC will be separate from other digital assets

Coinbase lobbies for new crypto regulator in the US

coinbase lobbies for new crypto regulator in the us

Regulators all over the world are struggling to regulate the cryptocurrency space, but efforts are still in the early stages Leading cryptocurrency exchange Coinbase has revealed that it is currently lobbying for the United States government to create a separate regulatory agency to oversee the activities within the cryptocurrency space. Over the years, traditional regulatory … Read moreCoinbase lobbies for new crypto regulator in the US

Russia has no intention of outlawing crypto trading

russia has no intention of outlawing crypto trading

China and Turkey have recently made headlines after authorities in both countries announced nationwide crypto crackdowns According to a report yesterday on local Russian news outlet Interfax, Russia’s Deputy Finance Minister Alexei Moiseev has confirmed that users will not be barred from buying and selling crypto on foreign exchanges. He, however, also retained that the … Read moreRussia has no intention of outlawing crypto trading

El Salvador to offer discount on fuel for payment with Bitcoin

el salvador to offer discount on fuel for payment with bitcoin

Bukele called the fuel price rebate “positive news for the pockets of Salvadorans” El Salvador, the first country in the world to recognise Bitcoin as legal tender, has announced that local consumers who choose to pay with Bitcoin using the government-backed crypto wallet Chivo will receive a price reduction of $0.20 per gallon of petrol. … Read moreEl Salvador to offer discount on fuel for payment with Bitcoin

As the power crisis subsides, crypto mining to resume in Iran

as the power crisis subsides crypto mining to resume in iran

The crypto mining industry in Iran is expected to be worth over $1 billion A three-month ban on crypto mining in Iran imposed by former President Hassan Rouhani has come to an end with the government announcing that it will allow licensed crypto miners to resume operations from today. The announcement is being seen as … Read moreAs the power crisis subsides, crypto mining to resume in Iran

Fed Chair has no intention of banning cryptocurrencies

fed chair has no intention of banning cryptocurrencies

China has taken a tough stance on cryptocurrencies in recent years but not every country is looking to follow that route The chairman of the United States Federal Reserve, Jerome Powell, has stated that he doesn’t intend to ban cryptocurrencies in the country. Powell added, however, that he intends to regulate stablecoins and increase the … Read moreFed Chair has no intention of banning cryptocurrencies

SEC chair Gensler said he supports a Bitcoin futures ETF

sec chair gensler said he supports a bitcoin futures etf

The United States Securities and Exchange Commission (SEC) is yet to approve a single cryptocurrency exchange-traded fund (ETF) application The United States Securities and Exchange Commission (SEC) currently has numerous cryptocurrency exchange-traded fund (ETF) applications to consider. However, the federal regulator is yet to approve a single one of them. Last month, the SEC chair … Read moreSEC chair Gensler said he supports a Bitcoin futures ETF

Industry giant Bitmain to halt sales in China

industry giant bitmain to halt sales in china

The cryptocurrency hardware firm is reportedly seeking to move out of the Chinese market Crypto equipment manufacturer Bitmain is reportedly planning to halt sales in China as the company adjusts to the changing Crypto landscape in the Asian country. Citing three sources in the know — two clients of the company and one working for … Read moreIndustry giant Bitmain to halt sales in China

Sparkpool suspends operations as China intensifies crypto crackdown

sparkpool suspends operations as china intensifies crypto crackdown

The real-time Ethereum hash rate connected to Sparkpool drops as the mining pool decides to cease all operations Hangzhou-based mining pool Sparkpool has officially announced that it will be shutting down operations both within China and abroad in order to protect users’ assets amid the regulatory crackdown in China. The announcement comes days after popular … Read moreSparkpool suspends operations as China intensifies crypto crackdown

CSA issues guidelines to prevent gambling-like crypto marketing

The CSA might examine marketing material during the review process for an exchange’s registration The Canadian Securities Administrators (CSA) and the Investment Industry Organization of Canada (IIROC) have issued warnings against crypto trading platforms in the country, accusing them of using gambling-like marketing practices. The warnings come amid multiple regulatory bodies expressing concern over consumer … Read moreCSA issues guidelines to prevent gambling-like crypto marketing

Huobi to discontinue accounts in Mainland China

huobi to discontinue accounts in mainland china

China issued a ban on cryptocurrency transactions last week, and it is already having some consequences for traders in the country Huobi Global, one of the leading cryptocurrency exchanges in the world, announced over the weekend that it would slowly retire existing mainland China users on its platform. This is due to the recent ban … Read moreHuobi to discontinue accounts in Mainland China

Regulatory troubles push Binance to stop offering derivatives in Australia

regulatory troubles push binance to stop offering derivatives in australia

Binance continues to partly shut down services in a number of countries amid ongoing global regulatory scrutiny The world’s largest crypto exchange by volume, Binance announced yesterday that it will be limiting operations in Australia to abide by local regulations.  The island country is the latest addition to the list of nations including Singapore, the … Read moreRegulatory troubles push Binance to stop offering derivatives in Australia

Bank of Russia’s new crypto crackdown won’t affect BitRiver: CEO

bank of russias new crypto crackdown wont affect bitriver ceo

The Russian central bank announced that it will work with local banks to slow down payments to crypto exchanges In a statement to CoinTelegraph, Igor Runets, the founder and CEO of Russia’s largest crypto mining colocation services provider BitRiver, asserted that the Russian central bank’s new regulatory crackdown is unlikely to affect the firm. Runets … Read moreBank of Russia’s new crypto crackdown won’t affect BitRiver: CEO

Regulation via litigation: Crypto community reacts to Coinbase vs SEC

regulation via litigation crypto community reacts to coinbase vs sec

Coinbase likely to take the SEC to the court, says Celsius CEO Alex Mashinsky Support has poured in from all corners of the crypto community after Coinbase CEO Brian Armstrong revealed that the US-based cryptocurrency exchange was being threatened with prosecution by the Securities and Exchange Commission (SEC) over its proposed Lend programme. The Coinbase … Read moreRegulation via litigation: Crypto community reacts to Coinbase vs SEC

Grayscale CEO says SEC is shortsighted after recent ETF comments

grayscale ceo says sec is shortsighted after recent etf comments

The United States SEC has delayed approving an ETF tied to Bitcoin but said it is open to granting one tied to Bitcoin futures Michael Sonnenshein, CEO of Grayscale Investments, believes that the US Securities and Exchange Commission (SEC) is shortsighted regarding its take on the Bitcoin exchange-traded funds (ETFs) currently filed by investment firms … Read moreGrayscale CEO says SEC is shortsighted after recent ETF comments

El Salvador buys 200 BTC amid the rollout of its new Bitcoin law

el salvador buys 200 btc amid the rollout of its new bitcoin law

The purchase is part of El Salvador’s $150 million Bitcoin Fund to facilitate the implementation of its controversial law recognising Bitcoin as legal tender As El Salvador gets ready to implement its new law that recognises Bitcoin as legal tender, President Nayib Bukele has confirmed that the country has purchased 200 Bitcoin as part of … Read moreEl Salvador buys 200 BTC amid the rollout of its new Bitcoin law

Regulators penalise traditional banks and brokers more than crypto exchanges

regulators penalise traditional banks and brokers more than crypto exchanges

Unregistered securities offerings are the most common cause of crypto-related fines, the report revealed Be it the recent US infrastructure bill or the numerous scuffles with the US Securities and Exchange Commission (SEC), the crypto industry’s relationship with lawmakers is not one to be proud of. On one hand, regulatory bodies continue to view crypto … Read moreRegulators penalise traditional banks and brokers more than crypto exchanges

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