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2022-09-25 19:40:00 California Governor Vetoes Bill to Establish Licensing Framework for Crypto Companies

The Governor of California, Gavin Newsom, has vetoed a proposed bill that seeks to create license requirements for crypto companies in the state. The bill sponsored by Democrat Assemblyman Tim Grayson was passed by the state assembly and senate last month. The Digital Financial Assets Law will create a much-needed framework for the crypto space. The bill was first read on the floor of the California State Assembly in February this year. Both the senate and state assembly eventually passed it on August 30. But Newsom doesn’t think it is necessary, citing the cost of a new regulatory program.

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2022-09-25 14:40:07 Guatemalan Town Cleans Local Lake Using Bitcoin Miners

Bitcoin use is spreading in Guatemala as mining becomes a popular solution for helping the environment. A Guatemalan circular Bitcoin economy known as “Bitcoin Lake” is leveraging Bitcoin ASICs to clean the nearby Lake Atitlán while generating income for the community. Bitcoin Lake Founder Patrick Melder explained, the “Kaboom” mining project is repurposing used cooking oil to help mine Bitcoin. Bitcoin Lake shared a video of the project in action earlier this month. Under one tent, the founder kept multiple containers of used cooking oil, a generator, ASICs, and a laptop tracking the hashes being generated.

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2022-09-25 08:40:04 Ethereum's Vitalik Buterin 'Very Hopeful' Dogecoin Moves to Proof of Stake

Now that the Ethereum merge is complete, Vitalik Buterin thinks other blockchains like Dogecoin and Zcash should follow suit. “As proof of stake matures, I expect it to just increase in legitimacy more and more over time,” Vitalik said over video chat at the Messari Mainnet conference on Friday. Ethereum executed its long-awaited merge event, moving its main network from the energy-intensive proof-of-work (PoW) model to the more energy-efficient proof-of-stake (PoS) model. The high-stakes event went smoothly, said Buterin, despite every test network merge experiencing “some kind of bug.”.

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2022-09-25 02:10:05 New Kraken CEO Ripley seeks growth, not a clash of crypto titans

Although incoming Kraken CEO Dave Ripley acknowledges he has "big shoes to fill," he laid out an ambitious strategy on how the company plans to navigate global regulations, the challenges it faces, and how it plans to target retail investors. Kraken has grown into a global digital currency exchange responsible for $16.25 billion. The most fundamental role that Kraken has played from the early days is being a bridge,” Ripley said in a wide-ranging interview with The Block. “Initially it was just a bridge to crypto generally. To buy and use bitcoin. But I think looking forward we want to extend that bridge to many other areas of crypto.

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2022-09-24 19:01:02 Framework to ban members of Congress and SCOTUS from trading stocks includes crypto provision

A bill based on the proposed framework banning crypto investments could help to "restore the public's faith and trust in their public officials," according to Zoe Lofgren. Members of the United States House of Representatives and Senate as well as Supreme Court justices currently trading cryptocurrencies may have to stop HODLing while in office should a bill get enough votes. According to a framework released on Thursday, chair Zoe Lofgren of the Committee on House Administration — responsible for the day-to-day operations of the House — said she had a “meaningful and effective plan to combat financial conflicts of interest” in the U.S. Congress by restricting the financial activities of lawmakers and SCOTUS justices, as well as those of their spouses and children.

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2022-09-24 16:10:05 JPMorgan voices doubts over Ethereum’s future post-Merge

Ethereum (ETH) network was implemented, officially marking the blockchain’s transition from the proof-of-work (PoW) to the proof-of-stake (PoS) validation algorithm, some organizations have expressed concerns over what this means for Ethereum’s future. On top of that, the institution’s report has also noted the sharp drop in the price of Ethereum. Indeed, the price of Ethereum since September 15, when the Merge took place, has so far dropped around 20%.

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2022-09-24 09:03:01 Dogecoin Whales Scoop Up 620M DOGE in Anticipation of Price Breakout

Dogecoin (DOGE) price has finally taken a turn towards gains as the $0.06 support maintains its stance, but can a true reversal take place. The global cryptocurrency market cap moved back above the $945 billion mark after a 3.34% increase over the last day. During this time, altcoins took the lead in terms of market gains. DOGE’s 4.5% gains on the daily chart weren’t massive compared to some of its altcoin peers, however, changes in certain long-term technicals and on-chain signals gave way to higher social anticipation among DOGE HODLers. The DOGE price has made lower lows on the daily chart since Sept. 13. Prior to that, the meme token managed to make occasional gains owing to the larger market’s short-term bullishness or high social anticipation.

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2022-09-24 03:41:01 SBF Surprised by FCA’s Warning Against FTX, Says They’ve Been in Talks

Despite not agreeing with the FCA’s warning, Sam Bankman-Fried vowed to abide by the regulator’s requirements and settle the issues. Sam Bankman-Fried – Co-Founder and CEO of FTX – said the tension between his company and the top financial watchdog in the UK – the FCA – was unexpected. In his words, the two sides have been discussing regulatory requirements “for a while.”. Earlier this week, the British agency insisted that FTX does not have the necessary license to offer its crypto products and services in the country. In an interview for The Financial Times, Sam Bankman-Fried revealed that FTX and the UK FCA have been “in a discussion about licensing for a while.” As such, he was surprised that the watchdog alerted British consumers that the exchange lacks the authorization to operate in the Kingdom.

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2022-09-23 21:22:10 The SEC is Angling to Take Authority Over All Ethereum Transactions in SPRK Suit

An overlooked part of a lawsuit the SEC filed Monday over a 2018 ICO for Sparkster (SPRK) made the rounds Wednesday. Apparently, the U.S. Securities Commission is angling to assert its regulatory authority over all Ethereum transactions. The computer engineer and data scientist has appeared prominently on investment programs such as CNBC, Forbes, Business Insider, and Entrepreneur Magazine. The SEC filed the civil complaint in Austin, Texas, over the initial coin offering for the Ethereum-based token Sparkster. The commission alleges improper consumer disclosures regarding Ballina’s compensation from the 2018 ICO. That means the Ethereum token doesn’t meet all of CMC’s guidelines for tracked listings.

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2022-09-23 16:15:05 EU MiCA Bill Takes One More Step Towards Adoption

The European Union’s Markets in Crypto Assets (MiCA) bill has reportedly been finalized and left open for comments. While the bill has largely focused on stablecoins and has been largely silent on the non-fungible token and decentralized finance industries, the latest draft’s implicit inclusion of nonfungible tokens may catch enforcers napping. Leaked on Sep. 20, 2022, the new bill encourages enforcers to consider “substance over form” strategy, which means that certain tokens like NFTs with a certain degree of fungibility could fall under the bill’s remit.

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