Tag: Digital

House Republicans directly criticize Biden administration for digital asset policies

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Statements from Republican lawmakers ahead of the inaugural hearing of the United States House of Representatives subcommittee focused on digital assets, financial technology and inclusion suggest partisan divides on crypto regulation. In a March 6 memo, House Financial Services Committee Republicans said the first hearing of the Subcommittee on Digital Assets, Financial Technology, and Inclusion would focus on the Biden administration’s “attack on the digital asset ecosystem”. The hearing is scheduled to take place on March 9 as one of the first since Representative Patrick McHenry became committee chair at…

Digital Art Platform and Residency Program Wildxyz Raises $7M

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Digital Asset Inflows Will Slow Without On-Ramps Between Fiat and Crypto: Morgan Stanley

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Marathon Digital terminates credit facilities with Silvergate Bank

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Bitcoin mining firm Marathon Digital has paid off its term loan and terminated its credit facilities with crypto-friendly Silvergate Bank, just as the bank announced it will be winding down operations. Marathon announced on Mar. 8 that it had prepaid its outstanding loan balance earlier that day, and would be terminating the revolving line of credit facility between the firms after providing Silvergate Bank with the required 30-day notice in early February. Marathon Digital Holdings has repaid its term loan and terminated its credit facilities with Silvergate Bank, reducing Marathon’s…

Bitcoin Miner Marathon Digital Terminates Credit Facility With Crypto Bank Silvergate

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Marathon said that on March 8, the term loan prepayment was completed, and the company’s credit facilities with Silvergate Bank were terminated, reducing its debt by $50 million, according to a statement. The debt paydown also increased its unrestricted bitcoin holdings by 3,132 as the bitcoin that was being held as collateral by a third-party custodian, were returned to the miner, the statement said. Original

CFTC continues to explore digital asset policy considerations in MRAC meeting

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The United States Commodity Futures Trading Commission, or CFTC, was a part of discussions on a regulatory framework for digital assets as well as use cases for blockchain technology. In a March 8 meeting of the CFTC’s Market Risk Advisory Committee, commissioners, regulators, and industry representatives were scheduled to discuss “critical policy considerations” as part of the commission’s efforts to develop a regulatory framework for digital assets. In addition, industry leaders including Uniswap Labs CEO Hayden Adams and Chainalysis’ global head of public policy Caroline Malcolm were part of a…

Crypto Could Help Flatten the Digital Gender Gap

Still, the fact remains that too many people, both men and women, do not have access to the internet and the digital devices they need to benefit from a digitizing economy. Women, particularly in developing countries, may not have the same level of access to digital devices and the internet as men. According to a report by the International Telecommunication Union, the gender gap in internet use is highest in the least developed countries, where women are 33% less likely to use the internet than men. Source

WeChat Incorporates Digital Yuan Payment Functionality to Bolster Appeal

Chinese super app WeChat is the second multipurpose social media platform in the country, after Alipay, to integrate digital yuan payments. WeChat has integrated the digital yuan into its platform to facilitate faster and more seamless user payments. The move by the leading Chinese social networking and payment app also serves to broaden the appeal of e-CNY. WeChat is the second local payment platform to support the digital yuan after Alipay. According to Kandong researcher Hu Hao: “As the two mobile payment giants [in China], WeChat Pay and Alipay are…

Federal Judge Gives Voyager Digital Approval to Conclude Billion-Dollar Deal with Binance.US

The regulatory body raised concerns that there is no proof that the transaction complies with US Securities law.  A federal bankruptcy judge in the US, Michael Wiles, has given Voyager Digital the go-ahead with its modified restructuring plans, which include Binance.US buying its assets. The crypto exchange emerged as the highest bidder for Voyager’s asset in December, with the deal valued at $1.022 billion. While Binance was to make a $10 million deposit, it was also supposed to offer up to $15 million to Voyager for certain expenses. However, the…

ICO statement on re-introduction of Data Protection and Digital Information Bill

Today, Wednesday 8 March, the Data Protection and Digital Information (DPDI) Bill is due to be re-introduced to Parliament. The ICO has issued the following statement and a full press release from the Department of Science, Innovation and Technology can be viewed here. “I welcome the reintroduction of the Data Protection and Digital Information Bill and support its ambition to enable organisations to grow and innovate whilst maintaining high standards of data protection rights. Data protection law needs to give people confidence to share their information to use the products…