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“# U.S. is not moving fast enough to develop a CBDC, says former CFTC chair ” Tim Massad, who served as chair of the Commodity Futures Trading Commission until 2017, said the United States is too slow in developing a plan to modernize its payment systems. In a Wednesday hearing of the Joint Economic Committee…
“# Acting OCC head calls for consolidated supervision for crypto firms ” Michael Hsu, the acting head of the United States Office of the Comptroller of the Currency, hopes to address gaps in supervision for companies dealing with cryptocurrencies. In published comments before the Federal Reserve Bank of Philadelphia on Tuesday, Hsu called for consolidated…
“# Navigating CityCoins: Miami citizens to earn Bitcoin despite the city not holding crypto ” Miami is quickly becoming the crypto capital of the United States. In August of this year, the Magic City was the first state in the U.S. to launch MiamiCoin (MIA), its very own cryptocurrency used for civic engagement. A few months…
“# US Justice Dept is selling $56M in crypto to compensate victims of BitConnect’s fraud ” The United States Department of Justice is planning to sell $56 million worth of cryptocurrency seized in connection with its case against Ponzi scheme BitConnect. In a Tuesday announcement, the Justice Department said it would sell the seized crypto…
“# China warns state-owned enterprises to cease involvement in Bitcoin mining ” China is pressuring its own state-owned businesses to cease mining cryptocurrencies, and the government is considering harsh penalties on firms that continue, including higher energy expenses. According to reports, Meng Wei, a spokesperson for the National Development and Reform Commission (NDRC), said at…
“# Infrastructure bill can still be remedied: DeFi dev-turned Congress candidate ” The controversial U.S. infrastructure bill was signed into law by President Joe Biden this morning, with the legislation passing without amendments made to the broad provisions that could impose stringent reporting requirements on crypto network validators and software developers. However, DeFi strategist-turned Democratic…
“# President Biden signs infrastructure bill into law, mandating broker reporting requirements ” After months of scrutiny from both the United States Senate and House of Representatives, the infrastructure bill — criticized by many crypto advocates — is now officially the law of the land. In a ceremony in front of the White House on…
“# Chinese provincial official expelled for violating crypto mining ban ” The Central Committee of the Chinese Communist Party (CCP) expels a top provincial official after investigations suggest unlawful emgagement with crypto mining activities among other abuse of power. The Central Commission for Discipline Inspection (CCDI) alleged that Xiao Yi, former vice-chairman of the Chinese…
“# ‘Invisible Aether’: World’s largest museum launches NFT art exhibition ” The Russian State Hermitage Museum continues diving in the nonfungible tokens (NFTs) industry by debuting its first fully-virtual exhibition of digital art. Shortly after raising over $400,000 via its first NFT auction on Binance in September, the Hermitage is now hosting a free exhibition…
“# US Congress plans ‘demystifying crypto’ committee hearing for Nov. 17 ” The Joint Economic Committee, which includes Republican and Democratic members of both the U.S. House of Representatives and Senate, will be holding a hearing on the role of government concerning crypto. According to the Joint Economic Committee’s, or JEC’s schedule for next week,…