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Crypto Mining Firms Targeted: U.S. Treasury Proposes 30% Tax on Electricity Costs
10.3.2023
Crypto mining firms based in the United States could be subject to a 30% tax on electricity costs under a new budget proposal aimed at reducing mining activity.
According to a March 9 supplementary budget explainer paper by the Department of the Treasury, any firm using owned or rented mining rigs...
Biden budget proposes 30% tax on crypto mining electricity usage
9.3.2023
The tax would be phased-in at 10% per year over three years and covers electricity generated from both on and off-grid sources
SEC accuses Utah firm of 'fraudulent' $18M crypto mining scheme
7.3.2023
The SEC said Green United’s operation was a fraud and the community was quick to quell fears of the SEC classing crypto mining as a security in the suit
US Sentences Man to 3 Years in Prison for Defrauding Investors in Crypto Mining Scheme
6.3.2023
A U.S. district judge has sentenced a man to three years in prison in a fraudulent cryptocurrency mining scheme. The defendant “misappropriated his victims’ money and failed to provide them with the miners and miner-hosting services they had purchased from him,” according to...
US Legislators Call for Greater Transparency on Crypto Mining Emissions – Regulation Incoming?
4.3.2023
US lawmakers have expressed intentions to reintroduce a bill that would require crypto mining companies to disclose emissions data for operations that use more than five megawatts of electrical power.
On Friday, United States Senator Edward Markey and Representative Jared...
Investment Fund Focused on Crypto Mining to Be Created in Russia
3.3.2023
The establishment of Russia’s first mutual investment fund dedicated to financing cryptocurrency mining operations is underway. According to a report by the Russian press, it will be available to qualified investors and will finance the acquisition of coin minting equipment. Russian Crypto Mining...
Advisors: Learn Crypto, or Your Clients Will
2.3.2023
The disconnect between financial advisors and their clients around crypto has become increasingly apparent, given that 37% of advisors personally invested in crypto compared to 83% of their clients that have, according to one 2023 survey
What is opportunity cost? A definition and examples
1.3.2023
Opportunity cost is the potential benefit that is missed out on when choosing one option over another
Lawmakers to Resubmit Russia’s Crypto Mining Bill, Introduce Liability for ‘Gray’ Miners
26.2.2023
The draft law legalizing cryptocurrency mining will be resubmitted to Russian parliament which will postpone its adoption, one of its sponsors announced. Members of the lower house are also working on a separate bill that will introduce liability for those who mint digital coins illegally. Adoption...
Montana’s ‘right to mine’ crypto bill moves closer to passing as law
24.2.2023
The bill seeks to enshrine crypto miners' rights and will still have to pass muster in the states House before its signed into law by the governor
Court to Try 2 Russians for Stealing 86 Bitcoins From Crypto Miner
16.2.2023
Two residents of the Russian city of Tomsk will be tried for “large-scale robbery” involving the theft of cryptocurrency worth millions of rubles from a local miner. The digital coins were stolen from the owner at gunpoint, authorities said, adding that both criminals are now...
Bitcoin miners already made nearly $600K from Ordinals' NFT transactions
14.2.2023
The Ordinals hype is real with the NFT inscriptions now regularly taking over 50% of Bitcoin block space
Daily Raids on Crypto Farms as Abkhazia Intensifies Mining Crackdown
12.2.2023
Authorities in Abkhazia are stepping up efforts to clamp down on cryptocurrency mining amid electricity shortages in the winter months. The government of the breakaway Georgian region announced it’s also taking measures to prevent imports of mining equipment. Abkhazia Creates Headquarters to Combat...
State-backed Crypto Mining Farm under Construction in Russia’s Buryatia
11.2.2023
A new crypto mining facility is being built in the Russian Republic of Buryatia with support from a government-affiliated company. Construction of the infrastructure for the large-scale project is already underway, carried out by a subsidiary of Russia’s largest mining operator, Bitriver. Bitriver...
Kazakhstan Law Limiting Crypto Miners’ Consumption of Electricity Enters Into Force
11.2.2023
A new law expanding the regulatory framework for cryptocurrency miners while restricting their access to low-cost electricity has entered into force in Kazakhstan. The legislation introduces a licensing regime for mining with two different categories of licenses that companies will have to renew...
Abkhazia Police Seize 396 Crypto Mining Rigs in 48 Hours as Electricity Woes Continue
9.2.2023
Police in Abkhazia have confiscated 396 crypto mining rigs in the space of just 48 hours – as the de facto state continues its battle against illegal miners. The government has blamed illegal miners for crippling power shortages and rolling blackouts that have left thousands without electricity....
Crypto Miners Blamed for Abkhazia Power Outages
7.2.2023
Major power blackouts in Abkhazia have been blamed on illegal crypto miners, marking a fresh setback for the region.
News headlines have been dominated by bitcoin (BTC) and altcoin mining in recent years in the de facto Caucasus-based state. Abkhazia sits in the northwestern corner of Georgia...
Russia Expands Its Crypto Mining Capacity, Report Reveals
5.2.2023
The total capacity of crypto mining facilities in Russia has been increasing in the past year, despite the market downturn and sanctions, according to a survey of leading operators. Depressed prices of mining equipment and stronger interest from domestic customers have been identified as major...
Kazakhstan Launches Consultation on Proposals to Improve Crypto Trading
4.2.2023
Financial authorities in Kazakhstan are starting a public consultation on draft changes to the country’s framework for digital-asset trading. The proposals include measures to reduce risks in the crypto market and improvements to the structure of exchange platforms. Kazakhstan’s Financial Hub Seeks...
Police Raid ‘Illegal Marijuana Plantation’ – But Find BTC Mining Farm Instead
2.2.2023
Spanish police got more than they bargained for when they went in search of a marijuana farm – and ended up unearthing an illegal bitcoin (BTC) mining operation instead.
Per Xataka and an official police report, officers were investigating what they initially thought was an “indoor marijuana...