Month: June 2023

Blockchain Pioneers Vitalik Buterin, Polygon Co-founder Commit $100M To Pandemic Research

Blockchain pioneers Vitalik Buterin of Ethereum fame and Polygon co-founder Sandeep Nailwal have joined forces with India-based crypto fund Crypto Relief in an extraordinary initiative aimed at combatting the devastating impact of COVID-19. In a remarkable display of solidarity and innovation, they have pledged to contribute a staggering $100 million towards critical areas such as COVID-19 research and the development of essential medical infrastructure.  This groundbreaking collaboration not only showcases the immense potential of blockchain technology but also highlights the profound commitment of these visionary leaders to making a tangible…

Crypto Miner Hut 8 (HUT) Says Repairs to Damaged Equipment at Alberta Site Are Taking Longer Than Expected

“Progress in bringing the equipment back online has been slower than expected given frequent curtailments and hardware failures due to power surges,” the Toronto-based company said on Friday. “As individual miner hashboards are repaired and re-installed, other hashboards are failing and require repair, which is impairing our hashrate and production.” Source

US House committee releases new stablecoin bill draft

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The United States House Financial Services Committee has released the third draft of the stablecoin bill presented by its chair, Representative Patrick McHenry. The latest draft of the bill is bipartisan and includes specific proposals from Republican and Democratic committee members.  The draft bill titled, The Future of Digital Assets: Providing Clarity for the Digital Asset Ecosystem, was first proposed on June 8 and is expected to be discussed during the upcoming committee hearing on June 13. The bill’s latest version proposes the U.S. Federal Reserve as the key regulator…

Binance.US Halts USD Deposits, Blames SEC’s ‘Witch-hunt’ |

Ongoing regulatory pressure has created a difficult working terrain for the banking partners of Binance.US. Binance.US has told its customers that they may not be able to buy crypto with their US dollars from June 13. The Thursday announcement follows after the Securities and Exchange Commission (SEC) filed a lawsuit against the exchange and its founder Changpeng Zhao (CZ) on Monday. SEC insists that Binance had violated the country’s securities laws. The exchange, on the other hand, says the regulator is only leveling “unjustified civil claims” against its business. The…

Kraken NFT exits beta, Coinbase ‘Stand with Crypto’ gains support, and more

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Kraken NFT marketplace exits its beta phase Crypto exchange Kraken has announced that its nonfungible token (NFT) marketplace has exited its beta phase. Along with the launch, the NFT platform highlighted that it has expanded its number of NFT collections. The platform noted that it went from supporting 70 collections to over 250. According to Kraken, it will continue adding even more collections into its marketplace.  We are launching out of BETA! #KrakenNFT is your gateway to buying, selling & learning about NFTs! Browse 250+ collections⛓️ Polygon blockchain IntegrationReddit Collectible…

Free Promotional NFTs, Crypto Airdrops Would Be Banned Under New UK Rules, FCA’s Matthew Long Says

The U.K.’s strict crypto financial promotions rules will come into effect on Oct. 8, according to a report the FCA published on Thursday. Under these rules, crypto will be categorized as a “restricted mass market investment,” and will require adverts on crypto to have clear risk warnings. What’s more, incentives for the general public to invest in cryptocurrencies will be banned. Source

Regulatory Shockwaves: SEC Charges Against Binance US and Coinbase Explained

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In an increasingly digital world, cryptocurrencies have taken center stage, sparking global conversations about their role in financial markets, their potential for innovation, and their regulatory conundrums. Amid this burgeoning industry, two major cryptocurrency platforms, Binance US and Coinbase, have found themselves under intense scrutiny from one of the United States’ top regulatory authorities. The U.S. Securities and Exchange Commission (SEC), a federal agency responsible for enforcing securities laws and regulating the securities industry, has filed a series of charges against both entities. The allegations bring to light significant questions…

EU starts countdown to crypto legislation, adds MiCA to official journal

On June 9, the European Union’s Markets in Crypto-Assets (MiCA) legislation was published in the Official Journal of the European Union (OJEU). This triggers the countdown for the law to come into effect from Dec. 30, 2024. Publication of MiCA in its official journal signals the start of the official process of bringing licencing, stablecoin and anti-money laundering regulations into effect by the end of 2024. The regulations, signed into law on May 31 after first being introduced in 2020, aim to create a consistent regulatory framework for crypto assets among European Union member…

US senators propose AI bills for transparency and innovation

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Lawmakers in the United States have proposed two new bipartisan bills targeting issues of transparency and innovation in artificial intelligence (AI).  On June 8, Democratic Senator Gary Peters, and Republican Senators Mike Braun and James Lankford, introduced the first bill, which would require the government to be transparent with its AI usage. Under such a measure, U.S. government agencies would need to inform the public when it uses AI to interact with them, along with a system for citizens to appeal any decisions made by AI. Braun stated: “The federal…