“The crypto mining industry is a massive energy user,” Vitali said at the time. “Globally, crypto mining consumes more energy than the countries of Argentina and Australia. This high level of energy usage places more stress on the environment and accelerates the climate crisis, in addition to raising costs for consumers.” Source
Under the proposals, which would take effect in 2025, “banks would be required to disclose qualitative information on their activities related to cryptoassets and quantitative information on exposures to cryptoassets and the related capital and liquidity requirements,” said the committee, which is linked to the Bank for International Settlements, a network of central banks based in Basel, Switzerland. Source BanksBaselCommitteeCryptoDiscloseExposuresGlobalRegulator CryptoX Portal
The duo currently have three other joint side hustles like DimeADozen with plans to create even more. Two friends have recently leveraged their rare artificial intelligence (AI) skills to build a six-figure business. According to a CNBC report, it took the friends – Sal Aiello and Monica Powers – only about four days to build the side hustle called “DimeADozen”. DimeADozen is an AI-backed research tool that helps budding entrepreneurs research their markets in the best way possible. Aiello and Powers met last year at a virtual startup founder meetup…
Shiba Inu (SHIB) has recently embarked on a surprising journey, defying the odds and setting the stage for a potential game-changing reversal. A recent report unveils fascinating insights into SHIB’s price action, highlighting both optimism and caution in equal measure. SHIB, currently priced at $0.00000705 according to CoinGecko, has exhibited remarkable resilience in the face of adversity. Over the past 24 hours, it faced a modest 0.9% decline, while the seven-day dip amounted to 1.6%. However, the most intriguing aspect of SHIB’s journey lies in its confrontation with a critical…
Despite the current AI Hollywood writers are not completely out of their fight with the use of AI. Some experts have shared some areas of concern. The Writers Guild of America recently signed a labor deal with Hollywood Studios, in what seems to be a victory for the Guild. The labor deal involves implementing guardrails for the use of artificial intelligence (AI). For years, writers and actors have expressed apprehension about the growing prevalence of AI, primarily out of fear that this technology might render them unnecessary in the realm…
The U.S. Securities and Exchange Commission (SEC) may have found additional ammunition to deny future Bitcoin ETF applications following a recent misinformation debacle. The latest development involved false reports claiming the SEC’s approval of a Bitcoin ETF from BlackRock, which led to significant market volatility. Fake news on Bitcoin ETF On Oct. 16, cryptocurrency media outlet Cointelegraph erroneously reported that the SEC had approved a spot Bitcoin ETF from BlackRock’s iShares. The false news was widely circulated on social media, causing Bitcoin’s (BTC) price surge. BlackRock quickly clarified that its…
The United States-based cryptocurrency exchange Coinbase is removing dozens of trading pairs in order to improve liquidity on its platform. Coinbase has suspended 80 non-USD trading pairs, including those with cryptocurrencies like Bitcoin (BTC), stablecoins like Tether (USDT) and fiat currencies like the euro. Announcing the news on Oct. 16, Coinbase said that the trading pairs’ removals aim to improve “overall market health and consolidate liquidity.” The trading pairs were removed from the Coinbase exchange and other platforms like Advanced Trade and Coinbase Prime at 19:30 UTC on Oct. 16.…
Nishad Singh told a jury on Monday that his September meeting with Bankman-Fired was the first time he realized that Alameda, FTX’s sister trading firm, had spent billions of dollars of FTX user deposits, and had left a gaping hole in both companies’ balance sheets. Source
“Opaque group structures may also render it difficult for clients of service providers to know which entity they are dealing with and its regulatory status,” ESMA said in a statement today, adding that some existing crypto companies “may lack a strong compliance culture … and their large scale and geographic scope allow them to maintain a high level of agility in terms of where they can operate, increasing the risk of conflicts of interest, regulatory arbitrage and an unlevel playing field.” Source
British citizens that hope to access legal assistance through the proposed ‘Help with Fees’ (HwF) scheme will not have cryptocurrency holdings classified as disposable income. The Ministry of Justice published its response following public consultation over its proposed legal aid scheme aimed at providing equal access to the justice system. HwF is aimed at providing financial support towards court or tribunal fees to individuals with low income and minimal savings. The scheme intends to ensure that individuals are not prevented from accessing courts and tribunals due to an inability to…