Tag: Government

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India Considers Allowing Only Preapproved Cryptocurrencies — Crypto Regulation Expected by Year-End: Report

November 19, 2021

India is reportedly considering allowing only preapproved cryptocurrencies to be listed and traded on exchanges. In addition, the government aims to both introduce and pass a cryptocurrency law by year-end. Indian Crypto Regulation and Preapproved Cryptocurrencies India is considering allowing only cryptocurrencies that have been “preapproved by the government” to be listed and traded on…
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U.S. is not moving fast enough to develop a CBDC, says former CFTC chair

November 18, 2021

“We should act now to improve access to financial services through other means as well — the need is too great,” said Tim Massad. Tim Massad, who served as chair of the Commodity Futures Trading Commission until 2017, said the United States is too slow in developing a plan to modernize its payment systems. In…
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Kyrgyzstan Shuts Down Cryptocurrency Farm With 2,500 Mining Rigs

November 17, 2021

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…
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US Justice Dept is selling $56M in crypto to compensate victims of BitConnect’s fraud

November 16, 2021

“This liquidation is the largest single recovery of a cryptocurrency fraud by the United States to date,” said the Justice Department. The United States Department of Justice is planning to sell $56 million worth of cryptocurrency seized in connection with its case against Ponzi scheme BitConnect. In a Nov. 16 announcement, the Justice Department said…
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Infrastructure bill can still be remedied: DeFi dev-turned Congress candidate

November 16, 2021

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. The controversial U.S. infrastructure bill was signed into law by President Joe Biden this morning, with the legislation passing without amendments made to the broad provisions that could…
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President Biden signs infrastructure bill into law, mandating broker reporting requirements

November 16, 2021

Crypto was absent from every speaker’s lips during the signing ceremony, with bipartisanship and jobs seeming to be the theme of the afternoon. After months of scrutiny from both the United States Senate and House of Representatives, the infrastructure bill — criticized by many crypto advocates — is now officially the law of the land.…
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US Congress plans ‘demystifying crypto’ committee hearing for Nov. 17

November 11, 2021

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. The Joint Economic Committee, which includes Republican and Democratic members of both the U.S. House of Representatives and Senate, will be holding a hearing on the role of…
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‘Invisible Aether’: World’s largest museum launches NFT art exhibition

November 11, 2021

After raising $440,000 selling NFTs on Binance, the Hermitage is now curious if NFTs are about the art, or rather just the money. The Russian State Hermitage Museum continues diving in the nonfungible tokens (NFTs) industry by debuting its first fully-virtual exhibition of digital art. Shortly after raising over $400,000 via its first NFT auction…
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Indonesia’s national Islamic council reportedly declares Bitcoin haram

November 11, 2021

While the MIU is a government-funded organization, its latest decision is not legally binding in Indonesia. The National Ulema Council (MUI), Indonesia’s top Islamic scholarly body, has reportedly found cryptocurrencies like Bitcoin (BTC) to be haram, or forbidden, by the tenets of Islam.  Asrorun Niam Sholeh, chairman of MUI’s Fatwa Commission, confirmed the religious authority’s…
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The city of Philadelphia rolls out its own blockchain initiative

November 11, 2021

City official said they are seeking comments from crypto innovators on how to integrate blockchain within the municipal government. City of Philadelphia Chief Innovation Officer Mark Wheeler announced an initiative to bring blockchain technology to city government on Monday. The project has invited people working in the blockchain and smart contracts space to contact staff…
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