Iran’s Ministry of Industry, Mine and Trade reportedly dismissed claims by leading power company Tavanir that blamed illegal cryptocurrency miners for the ongoing power shortages in the country. According to a report by the Financial Tribune, Alireza Hadi, the ministry’s director of investment and planning, said that the figures announced by Tavanir “seem to be
Regulation
The central banks of Australia, Singapore, Malaysia and South Africa have announced a joint initiative to trial international settlements using central bank digital currencies (CBDCs). The initiative, dubbed Project Dunbar, will prototype shared platforms enabling direct transfers between institutions using digital currencies issued by multiple central banks. The pilot’s findings will be used to inform
Curtis Sliwa, a beret-wearing Republican running to be the mayor of New York City, said one of the goals of his campaign is to focus on crypto. In a Wednesday tweet, Sliwa said he would be focusing on creating greater financial inclusivity in New York City by opening more crypto ATMs and incentivizing businesses to
A large-scale poll across 12 European Union member states reveals that a majority of Europeans would prefer local governments to create and regulate cryptocurrencies. Redfield & Wilton Strategies carried out a survey for Euronews, polling 31,000 respondents from Estonia, France, Germany, Greece, Hungary, Italy, Latvia, Lithuania, the Netherlands, Poland, Portugal and Spain. Against the backdrop of the
El Salvador’s Legislative Assembly has passed legislation creating a $150 million dollar Bitcoin Trust and supporting the development of crypto infrastructure and services across the country. The bill passed on Aug. 31, with 64 officials voting in favor and 14 opposing the trust’s creation. The Trust is designed to facilitate conversion of Bitcoin into U.S.
According to local media reports, the Financial Administration of the Republic of Slovenia, or FURS, is considering imposing a 10% taxable income bill on cryptocurrency asset activity in the near future. Under the current legislation method, the authority analyses an individual’s digital asset activity on a case-by-case basis by trawling through their buy and sell
Lesetja Kganyago, governor of the South African Reserve Bank (SARB), has argued against classifying crypto as currencies. According to a report by MoneyWeb, the central bank chief likened crypto to assets rather than currency during an interactive session at the Wits Business School Leadership Dialogues. According to South Africa’s central bank governor, cryptocurrencies only meet
The chief executive of crypto derivatives exchange FTX, Sam Bankman-Fried (SBF), has argued that derivatives are vital for the efficiency of the digital asset markets. In an interview with Forbes published Aug. 30, the crypto billionaire claimed that crypto derivatives are “misunderstood,” asserting that critics fail to recognise the vital role derivatives play in bolstering
Ripple has filed a motion to compel the United States Securities and Exchange Commission, or SEC, to disclose its internal cryptocurrency trading policies as part of the ongoing legal battle with the securities regulator. James Filan, an attorney closely following the SEC’s case against Ripple, shared a new motion document seeking to bring clarity whether
Although the cryptocurrency sector may still be considered the “Wild West” by some governments and regulators, continued adoption and emerging use cases show that digital currencies are here to stay. Some even argue that blockchain-based networks and decentralized finance, or DeFi, platforms may soon replace traditional financial systems. Yet despite ongoing progress, the crypto industry
China has reportedly doubled down on its crypto crackdown with a public reminder stating that Bitcoin (BTC) and other digital currencies “are not legal tender and have no actual value.” In a local media briefing, Yin Youping, the deputy director of the Financial Consumer Rights Protection Bureau of the People’s Bank of China (PBoC), said
On August 10, the United States Senate voted to pass a $1 trillion bill to revitalize America’s infrastructure. From the standpoint of the crypto community, miners in particular, the Senate’s foray into crypto legislation has been a disaster. Unless the language defining brokers in the bill is clarified, it will singlehandedly thwart the growth of
The Cuban government is reportedly planning to recognize and regulate cryptocurrencies for payments. According to Aljazeera, the Caribbean nation’s central bank will establish rules for mainstreaming cryptocurrency transactions. Cuban authorities are also expected to distribute relevant licenses to businesses based on the crypto-related services they provide. Some sources claim that the move to allow cryptocurrency
Coming every Saturday, Hodler’s Digest will help you track every single important news story that happened this week. The best (and worst) quotes, adoption and regulation highlights, leading coins, predictions and much more — a week on Cointelegraph in one link. Top Stories This Week Congress has put forward 18 bills on digital assets in
The entire cryptocurrency industry is waking up to a new reality. Politicians and regulators have decided to wade into the space, which had flown mainly under their radar until now. A House committee chair is launching a working group; the Securities and Exchange Commission is seeking new authorities to regulate digital assets as securities; and
When does decentralization stop being an experiment in technological democracy and start being a way to avoid accountability? That’s the question at the heart of a potential $100 million arbitration lawsuit against cryptocurrency exchange Binance, where close to 1,000 traders seek damages for losses suffered during the site’s outage on May 19. Binance experienced technical