US Senator Introduces ‘No Digital Dollar Act’ to Prohibit Treasury and the Fed From Interfering With Americans Using Paper Currency

U.S. Senator Introduces ‘No Digital Dollar Act’ to Prohibit Treasury and the Fed From Interfering With Americans Using Paper CurrencyA U.S senator has introduced the “No Digital Dollar Act to prohibit the U.S. Treasury and the Federal Reserve from interfering with Americans using paper currency” if a central bank digital currency is adopted. The bill further states: “No central bank digital currency shall be considered legal tender under section 16 5103 of title 31, […]

SEC Charges 2 Firms and 4 Individuals in Crypto Pump-and-Dump Scheme

SEC Cracks Down on Crypto Pump-and-Dump Scheme — Files Charges Against 2 FirmsThe U.S. Securities and Exchange Commission (SEC) has taken action against two firms and four individuals allegedly perpetrating a crypto pump-and-dump scheme. “Although this case involves crypto assets, it bears the hallmarks of a classic pump and dump scheme,” said the SEC. SEC Charges 2 Firms in Crypto Pump-and-Dump Case The U.S. Securities and Exchange […]

Bill Aims to Limit Crypto Mining in Kazakhstan Only to Registered Companies

Bill Aims to Limit Crypto Mining in Kazakhstan Only to Registered CompaniesNew legislation proposed in the parliament of Kazakhstan will allow only authorized miners to mint digital currency, if adopted. The draft has been designed to comprehensively regulate the industry and reduce what its sponsors label as uncontrolled consumption of electricity in the sector. Lawmakers in Kazakhstan Submit Crypto Mining Law, Seek to Curb ‘Gray’ Mining […]

Basel Study Shows World’s Largest Banks Are Exposed to $9 Billion in Crypto Assets

Basel Study Shows World's Largest Banks Are Exposed to $9 Billion in Crypto AssetsA first-of-its-kind study published by the Basel Committee on Banking Supervision details that the world’s largest financial institutions are exposed to roughly €9.4 billion (US$9 billion) in crypto assets. The research paper authored by the Basel Committee’s secretariat Renzo Corrias further explains that out of all the banks’ total risk exposure, cryptocurrency exposure is estimated […]

Russia to Supply Electricity to Kazakhstan’s Cryptocurrency Miners

Russia to Supply Electricity to Kazakhstan’s Cryptocurrency MinersRussia is preparing to provide Kazakhstan with additional energy needed to operate crypto mining farms in the Central Asian nation. New arrangements will allow Kazakhstan’s miners to buy electricity directly from the Russian power generation and distribution giant Inter RAO. Miners in Kazakhstan to Source Energy From the Russian Federation Crypto mining enterprises operating in […]

Solana Network Suffers Another Outage — Cyber Capital Founder Says Downtime Is ‘Another Consequence of Bad Design’

Solana Network Suffers Another Outage — Cyber Capital Founder Says Downtime Is ‘Another Consequence of Bad Design’The proof-of-stake (PoS) blockchain network Solana suffered another outage on September 30 and the network restart did not take effect until six hours later on October 1. Solana has suffered a myriad of network outages during the last year, and the blockchain’s latest downtime caused the network’s native currency to slide 4% lower against the […]

Despite the Crypto Market Downturn, DAO Treasuries Grew by $700 Million Since January

Despite the Crypto Market Downturn, DAO Treasuries Grew by $700 Million Since JanuarySince January 2022, the entire crypto economy has shed $1.36 trillion in value, as the market capitalization dropped from $2.34 trillion to today’s $979 billion. While the crypto economy is down in value, trade volumes are lower, and the value locked in decentralized finance (defi) has shed billions, treasuries held by decentralized autonomous organizations (DAOs) […]