Month: March 2023

Bitcoin Mining In Texas Remains Undeterred Amid Concerns Over Power Consumption

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Texas’ Bitcoin mining industry has shown growth amid turmoil in the crypto industry and concerns over power consumption.  Power consumption of Bitcoin miners in the state has risen 75% over the past year.  Some counties in the state of Texas have offered tax incentives along with wind and solar energy to miners.  A Texas lawmaker recently introduced legislation to protect miners operating in the state.  The ripples from the turmoil in the broader crypto industry seem to have missed the bitcoin mining industry of Texas. The growth in the power…

Bitcoin Advocates Discuss US Government’s Alleged Mission to Eliminate Crypto Access – Bitcoin News

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Since the collapse of three American banks friendly to cryptocurrency businesses and the U.S. government’s insistence that crypto assets are “risky investments,” many speculators believe bureaucrats are purposely closing access to cryptocurrencies. Some refer to the U.S. government’s recent enforcement as “Operation Chokepoint,” a mission aimed at eliminating access to the crypto ecosystem in the United States. Bank Shutdowns Raise Concerns About U.S. Government’s Stance on Crypto In recent weeks, crypto advocates have discussed U.S. government enforcement actions toward digital currency projects and businesses such as crypto exchanges. The collapse…

The world could be facing a dark future thanks to CBDCs

During the financial crisis of 2007–2008, many people lost trust in traditional financial institutions and turned to alternative forms of currency, such as cryptocurrencies. It was a way for people to maintain their financial freedom and privacy in a system that had let them down. However, the rise of central bank digital currencies (CBDCs) raises serious concerns about privacy and freedom. One of the most significant concerns with CBDCs is the death of anonymity. Currently, cash transactions offer the secrecy and anonymity needed for financial freedom. People can use cash…

Bank profits at risk from potential CBDC transformation of global economy: Moody’s

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Emerging central bank digital currency (CBDC) cross-border transaction technology could transform the global economy by providing faster, cheaper and safer services for many of its players. But banks may not fare as well in that new economy, Moody’s Investor Service said in a report dated March 21. Many proposals for the domestic use of CBDCs foresee a crucial intermediating role for banks in their operations, but cross-border CBDC transactions would depend on entirely new infrastructure that reduced the role of banks more severely, Moody’s pointed out. Banks would see benefits…

After Frenzied Arbitrum Airdrop Day, 37% of Eligible Wallets Still Haven’t Claimed Their ARB

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Coinbase CEO calls for action in electing pro-crypto lawmakers following SEC Wells Notice

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Brian Armstrong, the chief executive officer of United States-based cryptocurrency exchange Coinbase, has renewed calls for crypto users to “elect pro-crypto candidates.” In a March 23 Twitter Spaces discussion, Armstrong said Coinbase would be making efforts to organize the roughly 50 million U.S. citizens who use crypto into a political force. His statement followed the U.S. Securities and Exchange Commission issuing a Wells Notice to the crypto exchange, suggesting a potential enforcement action. “What we’re going to do is start putting out content where people can contact their congressman, donate…

Bitcoin Holds Steady Above $28K, Ether Rises in Post Rate Hike Rally

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Crypto’s Tricky Trio Stirs Up Trouble in 2023 – Op-Ed Bitcoin News

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2023 is shaping up to be a painful year for the U.S. Securities and Exchange Commission (SEC) as it finds itself entangled in battles with the ever-evolving and innovative cryptocurrency industry. From Ripple to Coinbase and Tron, the SEC faces fierce opposition with potentially huge consequences. The following opinion editorial was written by Joseph Collement, General Counsel at Bitcoin.com. Ripple Rumble: A Gamble that Could Ripple Through the SEC The SEC’s ongoing legal battle with Ripple Labs is a high-stakes gamble with serious consequences that may soon come to an…