The legislation appeared to be another attempt at the Accountability for Cryptocurrency in El Salvador Act, originally introduced after the country’s Bitcoin Law was enacted. Two United States Senators from opposite sides of the political aisle have reintroduced legislation from 2022 aimed at mitigating perceived risks posed by El Salvador’s adoption of Bitcoin as a…
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DAI stablecoin proprietor MakerDAO offered up an AI-heavy roadmap for the future with plans for a new blockchain. MakerDAO, the decentralized autonomous organization (DAO) behind the Dai stablecoin and its related Maker governance token, recently announced a slew of planned updates to its ecosystem, including a heavy focus on artificial intelligence (AI) technologies and the…
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The Terra Luna crash anniversary sparks reflections on the importance of liquidity, transparency and user protection in the crypto industry. On the anniversary of the Terra Luna (LUNA) crash, the cryptocurrency community reflected on the lessons learned from the event that wiped out $40 billion in value and caused Bitcoin to drop from $28,000 to…
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The majority of crypto companies attracted by the once favorable Estonian regulations have either abandoned or lost their licenses. According to the latest numbers released by the Baltic nation’s anti-money laundering bureau, only 100 businesses are currently authorized to provide digital-asset services. Most Estonian Licenses for Provision of Crypto-Related Services Expire A total of 389…
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The ratings agency looked at five areas of interconnectedness between the crypto ecosystem and traditional finance; its lack of firm conclusions may be telling. Rating provider S&P Global has examined whether or not there is a relationship between crypto assets and macroeconomics in a new report. Its conclusion is a firm “maybe” and the details…
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Authorities in Iran have closed down more than 8,000 underground facilities for cryptocurrency mining in the past three years, local media reported. Despite the government’s crackdown, illegal crypto mining continues to account for a serious amount of energy consumption, official figures suggest. Illegal Crypto Miners in Iran Steal 1.8 Billion kWh of Electricity, Official Says…
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The frozen assets include an apartment complex, an officetel, several imported cars and various financial assets. On May 10, local news outlet Hankyung reported that Do Kwon, co-founder and former CEO of Terraform Labs, had over 233.3 billion Korean won ($176 million) in personal assets frozen as part of ongoing criminal proceedings. Chief Judge Yun…
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Companies attracted by the plan to turn Hong Kong into a hub for digital assets should expect strict regulations, the region has indicated. Authorities are preparing new licensing rules for service providers working with cryptocurrencies and guidelines for banks interacting with crypto firms. Crypto Hub Hong Kong Has No Intentions to Adopt ‘Light-Touch’ Regulations Hong…
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At a recent event, Tom Mutton, the Bank of England’s head of fintech, touted the privacy benefits of CBDCs while denouncing the anonymity of cryptocurrencies. The Bank of England’s director of fintech, Tom Hutton, recently spoke out on the United Kingdom’s plans to institute a central bank digital currency (CBDC) at the Crypto and Digital…
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The growth in BRC-20 tokens comes just two months after the creation of the Bitcoin token fungibility protocol. On May 9, the total market capitalization of BRC-20 Bitcoin tokens surpassed $1 billion, with a total trading volume of $207.7 million in the past 24 hours. Some of the most notable deployed tokens include ordi, nals, VMPX,…
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