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“# Norwegian FSA sees urgent need for crypto investor protection ” Amid Bitcoin’s (BTC) drop to six-month lows below $30,000 on Tuesday, a Norwegian financial regulator warned investors that the cryptocurrency industry is largely unregulated in the country. The Financial Supervisory Authority of Norway, or Finanstilsynet, published June 22 a statement on consumer protection of…
“# Denied electricity, world’s 5th-largest mining pool leaves China for Kazakhstan ” BTC.com — a major crypto mining pool that is operated by BIT Mining and owned by the NYSE-listed Chinese lottery service provider 500.com — has announced the successful relocation of its first batch of mining machines to Kazakhstan. BTC.com was founded by Jihan…
“# Nvidia GPU prices in China fall amid crypto mining crackdown ” Amid the ongoing crackdown on cryptocurrency mining in China, prices of graphic cards from major GPU providers like Nvidia and Asus are becoming more affordable. According to a Monday report by South China Morning Post (SCMP), prices of some graphic cards have tumbled…
“# El Salvador adopting Bitcoin could make it lose market dominance ” El Salvador recently added Bitcoin as legal tender. In barely over a decade, an open-source, cypherpunk, radically new money system, with no publicly known creator and open to participation in both using and building from anyone in the world, has gone from zero…
“# Banks fall in line as China’s central bank cracks down on crypto accounts ” The Agriculture Bank of China (AgBank) — the world’s third-largest bank by assets — is set to implement Beijing’s firm anti-cryptocurrency measures and rigorously vet its clients to ensure they are not engaged in any form of illegal activities involving…
“# How smart regulation can improve the future of blockchain ” With extreme positions on both sides, some would have us believe that decentralized technology and regulation are mutually exclusive. As pervasive as that narrative has become, a more evolved view is that both decentralization and regulation are inevitable, so the best results will flow…
“# Smart contracts and the law: Tech developments challenge legal community ” Smart contracts are an important element of the blockchain revolution, although they predate blockchain. According to most sources, it was Nick Szabo who coined the term “smart contract” in the 1990s. The mechanism of a vending machine has since been frequently given as…
“# Democratic lawmakers have formed group to address regulatory concerns around crypto ” Maxine Waters, who represents California’s 43rd congressional district in the U.S. Congress, said she had organized a group of Democratic lawmakers for a deep dive on cryptocurrencies and central bank digital currencies. In a Tuesday virtual hearing of the U.S. House of…
“# El Salvador reportedly weighing paying employees in Bitcoin ” Rolando Castro, the Minister of Labor and Social Welfare in El Salvador has said that the government is discussing whether companies in the country should pay their employees in Bitcoin. According to local radio station 107.7 Fuego GMV, Castro has discussed the issue of employers…
“# ‘Bitcoin is not an asset that is designed to be leveraged’ says Caitlin Long ” All eyes are on Bitcoin (BTC), as the largest cryptocurrency shot up past $40,000 on June 14. Unsurprisingly, the price increase happened shortly after Tesla CEO Elon Musk tweeted that the electric-car company would potentially accept BTC payments once…