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Over 1,000 bitcoin mining machines have been totally destroyed in Malaysia after they were seized for illegally mining the cryptocurrency using stolen electricity. The mining machines, worth about $1.26 million, were steamrolled in the Malaysian city of Miri and eight people have been arrested so far. Over a Thousand Bitcoin Mining Machines Demolished in Malaysia … Read more
The International Monetary Fund (IMF), the World Bank, and the Bank of International Settlement (BIS) have conducted an extensive study of using central bank digital currencies (CBDCs) for cross-border payments. Their report to the G20 states that enhanced cross-border payments “can be achieved … as long as countries work together.” The Committee on Payments and … Read more
Bank of England Deputy Governor Jon Cunliffe believes that cryptocurrencies are not big enough to pose financial stability risk. “They’re not of the size that they would cause financial stability risk, and they’re not connected deeply into the standing financial system,” said the deputy governor. Crypto Poses No Financial Stability Risk, Says Deputy Governor of … Read more
Hong Kong’s Securities and Futures Commission (SFC) has issued a warning about unregulated cryptocurrency trading platforms, particularly Binance. The regulator said that the crypto exchange is offering the trading of “stock tokens.” The SFC issued a statement Friday warning the public about unregulated crypto trading platforms. The regulator addressed Binance in particular, stating that the … Read more
U.S. Treasury Secretary Janet Yellen will convene a meeting with the Biden administration’s working group on financial markets to discuss stablecoin regulation. “In light of the rapid growth in digital assets, it is important for the agencies to collaborate on the regulation of this sector and the development of any recommendations for new authorities,” said … Read more
It’s unclear why authorities outright destroyed the miners rather than attempting to reap some value, but they could still be sold for scrap. Go to Source Powered by WPeMatico
The U.S. Department of State’s Rewards for Justice program is offering a reward of up to $10 million “for information on foreign malicious cyber activity against U.S. critical infrastructure.” The department further said that “Reward payments may include payments in cryptocurrency.” The U.S. Department of State announced Thursday that its Rewards for Justice (RFJ) program … Read more
Binance’s regulatory troubles continue with Lithuania being the latest country to issue a warning about the cryptocurrency exchange. Lithuania’s announcement came one day after Italy issued a similar warning. Lithuania Warns Binance Lithuania’s central bank announced Friday that it has issued a warning to Binance UAB about its unlicensed investment services provided in Lithuania. The … Read more
Former U.S. Treasury Secretary Steven Mnuchin says his viewpoint on bitcoin “has evolved a little bit.” While he personally does not want to have bitcoin in his portfolio, he says if people want to buy the cryptocurrency, “that’s perfectly fine.” Mnuchin Says It’s ‘Perfectly Fine’ if People Want To Buy Bitcoin Former Treasury Secretary Steven … Read more
The Biden administration reportedly intends to ramp up efforts to trace cryptocurrency payments. Go to Source Powered by WPeMatico
