Platforms listing ads for mining hardware have been registering declining demand since Bank of Russia’s call for a ban on the minting of digital currencies among other crypto activities. While mining may eventually be legalized, miners can expect to pay higher electricity bills. Supply Exceeds Demand on Russian Market for Mining Chips Mining hardware is…
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House Representative Suzan DelBene, introducing the latest iteration of the bill, said the United States needs to “ensure that our tax code evolves with our use of virtual currency.” A bill previously introduced by Washington Representative Suzan DelBene aims to exempt crypto users from paying taxes on transactions under $200. According to a Tuesday draft…
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Leading exchanges, polled by the Russian press, have indicated they are not afraid of the upcoming strict crypto regulations. A requirement for coin trading platforms to establish a local office is one of the proposals in a regulatory roadmap drafted by the government in Moscow. Cryptocurrency Exchanges to Set Up Shop in Russian Federation Some…
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Russians may own more cryptocurrency than previously thought, a new estimate reportedly used by the government has indicated. The quoted figure amounts to over a tenth of the global holdings and may serve as an impetus for the government to regulate Russia’s crypto market rather than outlaw it. Estimated 12% of Crypto Allegedly Held by…
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“The proposal includes very expansive language, which, together with the chair’s apparent interest in regulating all things crypto, suggests that it could be used to regulate crypto platforms,” said Hester Peirce. Hester Peirce, a commissioner for the U.S. Securities and Exchange Commission known by many in the space as Crypto Mom, is warning that a…
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Uncertainty about crypto regulation can engender internal disagreement even within seemingly monolithic governments. One of the most fascinating implications of the collision between traditional political institutions and the crypto space is how it can reveal the glaring lack of cohesion within power systems that otherwise look monolithic. Digital assets reside in a parallel policy dimension…
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The government of Kosovo has decided to suspend crypto mining activities in the country as part of measures to deal with power shortages this winter. The move has been proposed by a special parliamentary committee tasked with bridging the gap between electricity demand and supply. Kosovo Authorities Ban Crypto Mining to Save Needed Energy The…
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Bukele also envisions an oncoming explosive growth for El Salvador’s two in-house BTC-based initiatives — Bitcoin City and Volcano bonds. On Jan 2, El Salvador President Nayib Bukele shared five bullish predictions on Bitcoin’s (BTC) performance for the year 2022. Last year, El Salvador became the first country to adopt Bitcoin as legal tender under…
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In 2021, mainstream U.S. Democrats’ stance on crypto has tipped towards skepticism and preference for tighter regulation. As 2022 is kicking off, America nears the first anniversary of Joe Biden’s presidency. Following the tenure’s ambitious start, the last few months witnessed some serious tumult around the overall health of the United States economy, the administration’s…
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Corey Frayer has worked as a staff member of the Senate Banking Committee as well as a senior policy adviser for some members of the House Financial Services Committee. United States Securities and Exchange Commission (SEC) chair Gary Gensler has added a new staff member who will offer advice related to crypto policymaking and interagency…
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