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Pakistan to Ban Online Services Related to Cryptocurrencies
18.5.2023
Authorities in Pakistan intend to prohibit all internet-based crypto services despite significant digital-asset investments made by Pakistanis. The decision comes as government officials in Islamabad take a strong stance against the legalization of cryptocurrencies like bitcoin. Crypto ‘Will Never...
USDC Issuer Circle Moves $8.7B to Repo Agreements to Protect Reserves From U.S. Government Default
17.5.2023
Circle’s reserve fund has ditched Treasury bills that mature beyond May 31, rotating assets to cash and overnight repurchase agreements instead, a company spokesperson said
Bitcoin, Ethereum Technical Analysis: BTC Drops Below $27,000 as US Debt Ceiling Fears Grip Markets
17.5.2023
Bitcoin fell below the $27,000 level on May 17, as market uncertainty remained high amidst the debt ceiling crisis in the United States. Congress continues to negotiate terms of a potential increase to the limit, before the U.S. government runs out of cash on June 1. Ethereum also dropped, breaking...
Tax Authority Slated to Become Main Crypto Regulator in Russia
17.5.2023
Russia’s tax administration is going to be tasked with overseeing the crypto industry in the country, a high-ranking government official has indicated. According to the regulatory concept that’s currently under consideration, the revenue service will also serve as an entry point for market...
OpenAI CEO Sam Altman testifies in ‘historic’ Senate hearing on AI safety
16.5.2023
Altman appeared alongside NYU professor Gary Marcus and IBM’s chief of trust Christina Montgomery to discuss how the U.S. government should regulate the AI industry
Iraq Issues Ban on US Dollar Transactions to Bolster Usage of Iraqi Dinar
16.5.2023
The government of Iraq issued a ban on using the U.S. dollar for conducting business transactions on May 14. The ban, which is already in effect, is designed to bolster the usage of the Iraqi dinar, the fiat currency of the country, and to reduce the influence of the dollar and its exploitation...
Signature Bank failed to understand risks associated with crypto: FDIC chair
16.5.2023
A related report penned down by FDIC Chief Risk Officer cited poor management as “the root cause of Signature Bank’s failure.”
US strips Ethereum dev Virgil Griffith of export privileges for 10 years
15.5.2023
The export privilege bar comes as a consequence of Griffith’s conviction and further impacts his involvement in international trade and transactions
US Government Faces ‘Significant Risk’ of Default in June, Congressional Budget Office Warns
14.5.2023
The Congressional Budget Office (CBO) has stressed that “there is a significant risk that the Treasury will run out of funds at some point in the first two weeks of June” if the debt ceiling is not raised or suspended. The CBO’s projection is in line with the estimate by the Treasury Department...
Inflation in China Down to Lowest Number in More Than Two Years; Analyst Proposes Giving Cash Handouts to Avoid Deflation
13.5.2023
Inflation in China registered an increase of 0.1% year-over-year in April, according to numbers from the National Bureau of Statistics of the country, falling below expectations. Some analysts are already warning about the dangers of deflation, even calling on the Chinese government to deliver cash...
Venom Foundation ventures into Kenya via a Government partnership
11.5.2023
Venom Foundation has announced that it has partnered with the government of Kenya, enabling the firm to venture its blockchain technology in the nation. The partnership is touted to help not just Kenya but other African nations as well. Specifically speaking, Venom Foundation will now establish...
Binance looks to the UK for regulation amid US crypto crackdown
11.5.2023
Binance seeks regulation in the U.K. amid a U.S. crackdown on cryptocurrencies as its chief strategy officer acknowledges the challenging business environment in the U.S
Former US Secretary of Labor Robert Reich Urges Bypassing Congress to Raise Debt Ceiling
11.5.2023
Robert Reich, former secretary of labor in the U.S., has called for the government to bypass Congress in order to raise the debt ceiling unilaterally. Reich states that the constitution of the U.S. gives President Biden the faculty of ignoring this debt limit, declaring it unconstitutional...
JPMorgan CEO Jamie Dimon in Favor of Abolishing Debt Limit; States Getting Close to Default Can Cause Panic
11.5.2023
Jamie Dimon, CEO of JPMorgan, stated that he favored abolishing the debt limit, giving the government the faculties to extend its debt without congressional action. Dimon also stated that even the drama surrounding the build-up to extending or not extending the debt limit could cause panic, as...
Investment Analyst Warns Successful BRICS Currency Could Hurt US Living Standards
11.5.2023
Investment analyst Jon Wolfenbarger has warned that a successful BRICS currency could hurt U.S. living standards and “lead to less power for the U.S. government, similar to the weakening of the UK after World War II.” He stressed: “Due to the Russia-Ukraine war and China’s continued economic...
Iran Shuts Down Over 8,000 Illegal Crypto Mining Farms in 3 Years
10.5.2023
Authorities in Iran have closed down more than 8,000 underground facilities for cryptocurrency mining in the past three years, local media reported. Despite the government’s crackdown, illegal crypto mining continues to account for a serious amount of energy consumption, official figures suggest....
S&P Global attempts to assess crypto assets’ susceptibility to macroeconomics
10.5.2023
The ratings agency looked at five areas of interconnectedness between the crypto ecosystem and traditional finance; its lack of firm conclusions may be telling
OpenAI CEO to testify before Congress alongside ‘AI pause’ advocate and IBM exec
10.5.2023
AI experts from IBM, NYU, and OpenAI will testify before the U.S. Senate on May 16 in a hearing entitled “Oversight of A.I.: Rules for Artificial Intelligence.”
Bitcoin Prices Crash Suddenly, Rumors of US Govt Holdings Being Sold-Off – What’s Going On?
10.5.2023
Speculation swirled on Wednesday on whether the US government's Bitcoin holdings were being sold off in the thousands.
In a tweet, Steven or @Dogetoshi, research director at The Block, found transactions labeled as “Gov: DOJ Confiscated funds.”
It then seemed to be a user mistake.
Crypto...
Crypto Industry Asks UK to Think Globally as Government Closes Consultation on Proposed Rules
10.5.2023
The U.K. opened its plans for regulating the crypto sector for public comment back in February