Biden nominee for Treasury Dept will prioritize crypto regulation
Brian Nelson, President Joe Biden’s nominee for under secretary of the Treasury Department’s division on terrorism and financial crimes, said he would prioritize implementing new regulations around cryptocurrency. In a Tuesday hearing of the Senate Committee on Banking, Housing, and Urban Affairs, Nelson said he would be focusing on Anti-Money laundering (AML) regulations if he were to be confirmed for the position in the Treasury Department’s terrorism and financial intelligence arm, adding that cryptocurrency would be a particular priority.
Bitcoin Tumbles as China Escalates Crypto Mining Crackdown
The price of Bitcoin dropped Monday on recent reports that China has expanded its crackdown on the mining of cryptos. Following this, Bitcoin traded as much as 9% lower Monday morning before recovering slightly. BTC was last trading at about $32,300 per coin as of 7 AM ET, according to CoinGecko. Other cryptos, including Ether, XRP, Cardano, and Dogecoin, also traded lower this Monday.
A New Filing for Morgan Stanley To Give Its Clients Exposure to Bitcoin
NYDIG and FS Investments announced they have filed paperwork with the SEC for a Bitcoin investment fund. Also, the filing will allow Morgan Stanley to give its clients exposure to bitcoin. NYDIG is a leading tech and financial services firm devoted to Bitcoin. And FS Investments, a top alternative investment manager. According to the filing report, Morgan Stanley will receive specific placement and servicing fees for clients it refers to the issuer. Let’s note that in March, Morgan Stanley became the first major US bank to give its clients exposure to bitcoin. This includes the FS NYDIG Select Fund, the Galaxy Bitcoin Fund LP, and the Galaxy Institutional Bitcoin Fund LP. More so, it did it through a trio of funds, one of which NYDIG and FS Investments jointly created.
Following massive BTC purchase announcement, MicroStrategy says it may sell up …
The same day business intelligence firm MicroStrategy announced it would use $488 million from the proceeds of a private offering sale to buy Bitcoin, the company said it may also sell up to $1 billion of its stock for the same reason. In a Monday S-3 filing for the United States Securities and Exchange Commission, MicroStrategy said it would be launching an “at the market” securities offering, which would allow it to sell up to $1 billion of its Class A Common stock over time. The firm said it intended to use the proceeds from the offering “for general corporate purposes, including the acquisition of Bitcoin.”
Musk has spoken again
Musk says Tesla sold about 10% of bitcoin to test market, and will ‘resume allowing crypto transactions’ when 50% of miners use clean energy.
Tanzanian president urges central bank to prepare for crypto
Tanzania appears to be the latest emerging economy poised to embrace Bitcoin and crypto assets. On June 14, Tanzanian president Samia Suluhu Hassan urged the country’s central bank to begin exploring crypto assets. Hassan emphasized the increasing impact of digital assets on global finance, stating: “We have witnessed the emergence of a new journey through the internet.” She highlighted the lack of crypto adoption and development in the East African region, stating: “Throughout the region, including Tanzania, they have not accepted or started using these routes.”
Nigeria’s central bank plans CBDC pilot launch before the end of 2021
Rakiya Mohammed, an IT specialist at the Central Bank of Nigeria (CBN) has announced that the apex bank is making efforts to float a central bank digital currency in the country. According to a report by People’s Gazette, Mohammed made this known after the Bankers Committee meeting held in Abuja on Thursday, telling reporters: “Before the end of the year, the Central Bank will be making a special announcement and possibly launching a pilot scheme in order to be able to provide this kind of currency to the populace.”
El Salvador's president wants to build volcano-powered crypto miners
Nayib Bukele’s plans for crypto in El Salvador are still in motion, with the president now calling for a geothermal power company to make certain facilities available to Bitcoin miners. In a Wednesday tweet from Bukele, the president said he would be instructing Mynor Gil, the president of the state-owned electrical company LaGeo, to facilitate Bitcoin (BTC) mining “with very cheap, 100% clean, 100% renewable, 0 emissions energy” from the country’s volcanoes. The firm operates the only two geothermal power plants in El Salvador based in the regions of Ahuachapán and Berlín, with announced plans to construct new facilities in San Vicente and Chinameca.
El Salvador Now Offers Permanent Residency for 3 BTC
President Nayib Bukele said El Salvador would grant permanent residency for immigrants that post 3 Bitcoins ($100,432 at the time of writing). According to Bukele, the government will launch a Bitcoin wallet for its citizens, but people will be able to use any wallet.
Record $141M outflow from Bitcoin products signals institutions are bearish on …
Institutional investors withdrew a record $141 million from Bitcoin investment products this past week.
Hacktivist collective Anonymous takes aim at Elon Musk. Who cares?
It’s the classic Anonymous modus operandi: a monologue worthy of a super villain, a perceived attack on an individual right or public good, some guy in a Guy Fawkes mask, and a whole lot of fizzbang-wowie video effects and voice distortion. But as the hacktivist collective takes aim at a new target in Elon Musk, the latest “expect us” threat prompts the question: who cares?
Elon Musk breaks up with bitcoin? Cryptic tweet has some crypto bulls fearing t…
Crypto bull Elon Musk on Thursday evening issued a cryptic tweet that many in the world of digital assets were interpreting as the billionaire’s breakup with bitcoin. A number of Musk’s recent tweets have sparked in the crypto community a mix of ebullience, confusion, apprehension and, at times, dread. His social-media missives have had outsize influence on the prices of dogecoin and bitcoin and he’s at least partly blamed for the extant slump in bitcoin and the broader crypto complex. An article last month in The Wall Street Journal described him as bitcoin’s biggest influencer.
Former congressman Ron Paul: Bitcoin is money and should be taxed the same
Former presidential candidate and congressman Ron Paul has renewed calls for Bitcoin to be legalized as money and not taxed. Paul is a staunch libertarian and author of the Bitcoiner favorite “End the Fed,” who has advocated for the legalization of Bitcoin and other cryptocurrencies in the past. The former congressman has also regularly taken aim against the Federal Reserve for its unchecked money printing since the pandemic began.
Google to accept cryptocurrency exchange, wallet advertisements in August
Google will begin accepting advertisements of cryptocurrency exchanges and digital wallets targeting U.S. consumers on its platform beginning Aug. 3. The tech giant said it will update its financial products and services policy in August to "clarify the scope and requirements to allow the advertisement of cryptocurrency related business and services." A cryptocurrency wallet is an app that allows users to store and retrieve their digital assets from crypto exchanges, such as Coinbase. Once stored in the digital wallet, a user can then use those holdings to make transactions.
Funds locked in Aave soar past $20 billion amid layer-two embrace
Aave has surged to the top of the DeFi ranking by total value locked (TVL) amid its recent embrace of layer-two for scaling. According to Aave’s website, the v2 and Polygon deployments of the popular crypto-powered money market protocol currently represent more than $20 billion in locked capital, holding more than $12.6 billion and $7.8 billion in the respective versions.
Singapore’s DBS Bank launches digital bond security token
Singapore-based multinational banking corporation, DBS Bank, has launched its first-ever security token offering, or STO, by issuing a digital bond. The DBS digital bond has been priced at $11.35 million and comes with a six-month tenor and coupon rate of 0.60% annually. The offering was carried out through a private placement hosted by DBS Digital Exchange, or DDEx, marking DDEx’s first STO.
Bitcoin tackles $40,000 as Biden unveils new $6 trillion federal spending budget
Bitcoin (BTC) may get a boost to finally clear $40,000 at the expense of the U.S. dollar as United States President Joe Biden's new $6 trillion federal spending budget proposal is unveiled. On May 28, the United States president will announce the massive fiscal policy, the largest since the Second World War, to ensure investments in major infrastructure, education and healthcare projects, reported The New York Times on May 27.
‘This Isn’t the Start of OPEC’: New Bitcoin Mining Council Just Wants to Promot…
The new Bitcoin Mining Council, the Saylor- and Musk-led group has no intention of altering the cryptocurrency’s software and merely wants to promote sustainable energy practices and transparency in the industry.
Half of hedge funds are now investing in crypto, says PwC report
PwC and Elwood Asset Management have published their third annual report on the global crypto hedge fund landscape.
Elon Musk Clarifies Tesla Hasn’t Sold Any Bitcoin: BTC Spikes $2500
After several controversial Twitter comments on bitcoin and Tesla, the electric vehicle giant’s CEO clarified that the firm still holds all of its coins. As a result, the price of the asset saw a sudden increase of over $2,000.