In less than two months of existence, the BlackRock iShares Bitcoin ETF (IBIT) has accumulated more bitcoin {{BTC}} than the largest corporate holder, MicroStrategy (MSTR). Source
Congressional inaction, the decline of the Chevron doctrine, and regulation by enforcement are decentralizing policy-making power over emerging technologies like blockchain and AI, says Michele Neitz. Source
The CBDC Anti-Surveillance State Act, aimed at preventing “unelected bureaucrats in Washington” from issuing a central bank digital currency (CBDC), has taken one step further on its procedural journey after it passed the House Financial Services Committee. According to a press release distributed by the bill’s author, Representative Tom Emmer, on Sept. 20, the CBDC Anti-Surveillance State Act was passed out of the committee and favorably reported to the House floor. That means the bill will next face a congressional vote. Emmer stressed that the bill has already gained the…
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The American central bank has determined that all 23 of the country’s largest banks would be able to survive a severe recession following its “stress tests.” The report issued on June 28 also showed relative weakness among the midsize and regional banks, however, the stress test only requires the 23 banks to participate in testing,. The list comprises of the country’s largest lenders. In light of the banking crisis earlier this year, Fed policymakers hinted that stress testing could be made harder in the future. Fed vice-chair for supervision, Michael Barr,…
The French National Assembly has voted in favor of legislating stricter licensing rules for new cryptocurrency firms in order to harmonize local laws with proposed European Union (EU) standards. The vote was passed with 109 votes (60.5%) in favor to 71 (39.5%) against. With the French Senate having already passed the bill, it will now be passed to president Emmanuel Macron who has 15 days to either approve it or send it back to the legislature. ✅ Projet de loi DDADUE dans les domaines de l’économie, de la santé, du…
A cryptocurrency mining rights bill with laws that would prohibit the discrimination of crypto miners is one step closer to fruition after passing the Montana Senate. The proposed laws would enshrine a “right to mine digital assets” and would prohibit “discriminatory” electricity rates being charged to crypto miners, protect mining that occurs “at home” and strip local governments of the power to use zoning laws to stop crypto mining operations. It also prohibits additional taxes on the use of crypto as a payment method and would consider “digital assets,” including…
Bitcoin (BTC) returned to intraday resistance on Sep. 30 as analysis predicted that $20,000 could break before a new comedown. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Crunch time for $20,000 Data from Cointelegraph Markets Pro and TradingView followed BTC/USD as it circled $19,600 at the time of writing. The pair had seen a bout of more volatile behavior the day prior, briefly losing $19,000 before bid support took the market higher. The day looked to be an important one for bulls, with the monthly close combining with European Consumer…
Proposals in crypto help communities make consensus-based decisions. However, for decentralized music platform Auduis, the passing of a malicious governance proposal resulted in the transfer of tokens worth $5.9 million, with the hacker making away with $1 million. On July 24, a malicious proposal (Proposal #85) requesting the transfer of 18 million Audius’ in-house AUDIO tokens was approved by community voting. First pointed out on Crypto Twitter by @spreekaway, the attacker created the malicious proposal wherein they were “able to call initialize() and set himself as the sole guardian of…
Friday, June 3rd, was a landmark event for the Japanese. The federal parliament successfully passed a law that legalized and regulated stablecoins. This event occurs a month after Terra’s UST stablecoin collapsed and caused multi-billion dollar losses in the crypto industry. Japan’s new bill is an example of how stablecoins can be utilized to uphold public trust, regulate the industry, and reduce financial crimes like fraud and embezzlement. Japan Legalizes Stablecoins Among the major economies in the world, Japan has become the first country to legalize and establish a framework…