EU Lawmakers Won’t Ban Crypto After All
According to a report published by German news outlet BTC-ECHO, the European Union (EU) has reversed its controversial plan to restrict the energy-intensive proof-of-work consensus process. The EU’s Amendment The latest version of the EU’s “Markets in Crypto-Assets” or MiCA legislation has been stripped of a clause that many believed would lead to a ban […]
Would There be a Decline In Dollar rates as Biden sets to Issue Executive Crypto Order?
President Joe Biden of the United States is expected to release an executive order on cryptocurrency this week, according to a senior administration official with an understanding of the facts. Why Release a Crypto Executive Order (EO)? The Executive Order will direct government entities to conduct in-depth investigations into various aspects of the crypto asset environment in […]
SEC charges BlockFi with a $100 million fine for failure to comply with regulatory law
The SEC has charged crypto lending business BlockFi with a $100M penalty for failing to register high-yield interest accounts that the agency considers securities. The penalty also requires the business to stop onboarding new customers to its unregistered service, BlockFi Interest Accounts. The Securities and Exchange Commission, or SEC, took action against crypto lending business […]
Kazakhstan’s President Reportedly Calls for Tax Increase on Crypto Mining
Kassym-Jomart Tokayev, Kazakhstan’s president, called for a higher tax on cryptocurrency mining just weeks after a new charge went into force. Tokayev stated the present rate of 1 Kazakh tenge ($0.0023) per kilowatt of power is insignificant, and he ordered the government to raise the tax as quickly as possible, as well as come up […]
Russia’s Finance Minister Suggests Allowing Banks to Sell Cryptocurrencies
Unlike the Bank of Russia, Siluanov Russia’s Finance minister believes banks may be licensed to provide crypto exchange services. According to Russian newspaper Kommersant, Russian Finance Minister Anton Siluanov repeated the ministry’s stance on regulating rather than prohibiting cryptocurrency and urged allowing cryptocurrency trading through banks in a letter written to Prime Minister Mikhail Mishustin […]