Month: March 2023

Texas lawmaker introduces resolution to protect Bitcoin miners and HODLers

boss

Cody Harris, a member of the Texas House of Representatives, has introduced a resolution aiming to have the legislature say the “Bitcoin economy is welcome” in the state. In a resolution released on March 21, Harris encourages Texas lawmakers to “express support for protecting individuals who code or develop on the Bitcoin network” as well as miners and Bitcoiners operating in the Lone Star State. The state representative added that Texas’ constitutional rights concerning “all unreasonable seizures or searches” should extend to attempts to go over residents’ digital asset holdings. “Individuals…

This Ukrainian Startup Is Looking to Automate Crypto Crime Reporting Using Smart Contracts, AI

In the future, HAPI is considering using AI to automate report approval, too, Letsyuk said: “We’re now feeding the reports we get to the [latest AI product by OpenAI] GPT-4 – it looks very raw at this point, but promising. Not trying to catch some hype here, but we believe that it can be helpful in the near future.” Source AutomateContractsCrimeCryptoReportingSmartStartupUkrainian CryptoX Portal

Coinbase Argues an Arbitration Case in U.S. Supreme Court as Crypto Makes Its Debut

In Tuesday’s case, Coinbase Inc. v. Bielski, customer Abraham Bielski had initially accused Coinbase of lax protections when a scammer stole $31,000 from his account. A court found that he could go ahead and pursue that complaint in the courts, which Coinbase appealed. When the matter kept moving in court, the company argued its appeal should have stopped it. Source ArbitrationArguesCaseCoinbaseCourtCryptoDebutSupremeU.S CryptoX Portal

Bitcoin holds $28K due to spot buying, but institutional investors are still selling

boss

Bitcoin’s (BTC) price broke above the February 2023 highs of $25,200 after U.S. inflation data was in consensus with the market expectation. The potential fallout of the global banking system further promoted Bitcoin investment as a non-correlated global hedging instrument similar to gold in March. The correlation between gold and BTC has been rising since the start of the month. Correlation coefficient between BTC and gold. Source: TradingView However, institutions have become net sellers of Bitcoin in 2023, which raises some red flags. Bitcoin whales, holding between 10 and 10,000…

Ethereum jumps while bitcoin maintains its pace

boss

The price of ethereum (ETH) has increased tremendously, from $1,760 to $1,820 as of March 21, as bitcoin (BTC) remains steady after a surge in the last few days. Ethereum surged to $1,820 and then slightly corrected. Bitcoin maintained its new high of $28,000 after it went bullish. Ethereum to USD price chart | Source: CoinMarketCap Ether’s value against bitcoin had decreased since March 12, when the TradFi scene started facing a crisis. Any specific event has not triggered the sudden surge of ETH.  The ratio rose from 0.072 bitcoin…

Crypto Ads in Belgium to Feature ‘Punchy Warning’ of Risks, New Rules Imply – Regulation Bitcoin News

boss

The financial regulatory body of Belgium has been tasked by the government to regulate advertisements for cryptocurrencies. New rules, set to enter into force in May, oblige advertisers to clearly warn investors of the risks associated with the digital assets. Belgium Poised to Protect Consumers From Misleading Crypto Advertisements Belgium’s Financial Services and Markets Authority (FSMA) has been granted powers to strictly regulate crypto-themed advertising. The new rules, which will be applied in less than two months, are meant to ensure that the risks linked to virtual currencies are “sufficiently…

Bitcoin hits new 9-month highs above $28K as markets flipflop over FOMC

boss

Bitcoin (BTC) headed to new nine-month highs after the March 21 Wall Street open as a crucial Federal Reserve interest rate decision loomed. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Bitcoin price climbs despite conservative Fed view Data from Cointelegraph Markets Pro and TradingView showed BTC/USD approaching $28,500 on Bitstamp. The latest in a succession of multi-month highs, the latest BTC price action precedes what promises to be a volatile day for markets. The Fed will announce how far — if at all — it will hike its baseline interest…

CryptoUK calls on regulators to address de-banking of digital asset firms

boss

The self-regulatory trade association CryptoUK has proposed providing a ‘white list’ of registered firms in the United Kingdom to address banks limiting or banning transactions to crypto companies. In separate letters to U.K. Economic Secretary Andrew Griffith and members of the Financial Conduct Authority and Payment Systems Regulator dated March 21, CryptoUK said many banks had begun imposing blanket bans on dealing with crypto firms “instead of taking a risk-based and case-by-case approach.” The association proposed the creation of a ‘white list’ of registered crypto companies allowing them to conduct…