US is not moving fast enough to develop a CBDC, says former CFTC chair
“We should act now to improve access to financial services through other means as well — the need is too great,” said Tim Massad. Go to Source Powered by WPeMatico
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Acting OCC head calls for consolidated supervision for crypto firms
Michael Hsu said this approach would require more cooperation from both federal and state regulators, with “less regulatory competition” and “more interdependence.” Go to Source Powered by WPeMatico
Kyrgyzstan Shuts Down Cryptocurrency Farm With 2,500 Mining Rigs
Authorities in Kyrgyzstan have uncovered and shut down a large crypto mining farm in the north of the country. Law enforcement officials claim the illegal coin minting facility has inflicted “colossal damage” to the nation’s power grid and that they are still trying to estimate the losses. Underground Crypto Farm Busted in Kyrgyzstan The region … Read more
US Justice Dept is selling $56M in crypto to compensate victims of BitConnect’s fraud
“This liquidation is the largest single recovery of a cryptocurrency fraud by the United States to date,” said the Justice Department. Go to Source Powered by WPeMatico
China warns state-owned enterprises to cease involvement in Bitcoin mining
China is considering imposing harsh penalties on state-owned firms that continue mining cryptocurrencies. Go to Source Powered by WPeMatico
Infrastructure bill can still be remedied: DeFi dev-turned Congress candidate
Matt West, DeFi developer by night and a Democratic candidate by day, believes there is still time to remedy the anti-crypto provisions of the U.S. Infrastructure Bill. Go to Source Powered by WPeMatico
President Biden signs infrastructure bill into law, mandating broker reporting requirements
Crypto was absent from every speaker’s lips during the signing ceremony, with bipartisanship and jobs seeming to be the theme of the afternoon. Go to Source Powered by WPeMatico
‘Invisible Aether’: World’s largest museum launches NFT art exhibition
After raising $440,000 selling NFTs on Binance, the Hermitage is now curious if NFTs are about the art, or rather just the money. Go to Source Powered by WPeMatico
US Congress plans ‘demystifying crypto’ committee hearing for Nov. 17
Representative Don Beyer — who has previously proposed legislation expanding the regulatory and legal framework for digital assets in the U.S. — will be chairing the hearing. Go to Source Powered by WPeMatico
Russian Duma creates working group to tackle crypto mining regulations
Some regulators feel that a lack of clear laws for the industry is helping crypto miners avoid paying taxes. Go to Source Powered by WPeMatico