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    Blockchain

    US Debt Ceiling Deal Leaves Out Cryptocurrency Mining Tax, Congressman Confirms

    In a deal by President Joe Biden and Republican House Speaker Kevin McCarthy to raise the US debt ceiling, there is one part notably absent — a tax on cryptocurrency mining.

    Jimbos Protocol hacked for over $7.5 million using flash loan exploit

    Shortly after it fell victim to a hack, Arbitrum-based Jimbos Protocol has decided to seek the help of security researchers and on-chain analysts who collaborated on investigating similar attacks which targeted protocols such as Euler Finance and Sentiment.

    Bali Tightens Regulations: Stricter Measures Implemented to Restrict Foreign Tourists from Using Cryptocurrency as Payment

    The popular Indonesian tourist island Bali will tighten rules around payments to make it harder for foreign tourists to pay with crypto.

    South Korean Court Jails Civil Servant Who Stole Public Funds to Buy Crypto

    A South Korean court has handed a suspended jail term to a civil servant who stole thousands of USD worth of public funds to pay for crypto investments.

    Winklevoss Twins’ Exchange Gemini and Crypto Lender Genesis Ask US Court To Dismiss SEC Lawsuit

    Cryptocurrency exchange Gemini and bankruptcy crypto lending platform Genesis are firing back after being sued by the US Securities and Exchange Commission earlier this year.

    Trezor Sales Skyrocket by 900% Despite Reddit Scam Warnings

    Hardware wallet maker Trezor’s sales just skyrocketed by 900% week-over-week, despite Reddit users warning that fake Trezor phishing websites are being promoted across social media.

    US Sen. Lummis Says President Biden Is Picking ‘Winners and Losers’ With Proposed Crypto Mining Tax

    The Biden administration is picking “winners and losers” in a proposal to tax cryptocurrency miners, US Sen. Cynthia Lummis said in a tweet on Thursday. 

    US Lawmakers Urges the SEC To Include State-Regulated Custodians in New Rule

    Lawmakers urged a US regulator to not further limit certain financial stakeholders in its proposed rule tightening cryptocurrency custody requirements. 

    Crypto Exchange Gemini Selects Ireland for Its European Headquarters

    Crypto exchange Gemini will have a second home in Ireland after co-founder Cameron Winklevoss announced it would make Ireland its European headquarters.

    Nike’s Swoosh Web3 Platform Surpasses $1 Million in Sales

    .SWOOSH, a web3 platform developed by the popular sports brand Nike, has already generated more than $1 million in sales from its first sneaker-themed non-fungible token (NFT) collection.

    EU Investment Firms Should ‘Clearly Disclose’ That Some Assets, Including Crypto Are Unregulated: ESMA

    Investment firms should make sure clients are aware of the regulatory status of the products they offer, including cryptocurrency, according to the latest notice from the European Union’s financial markets regulator. 

    Tradeblock, DCG Subsidiary, to Be Shuttered Due to Crypto Winter 

    Amid an ongoing crypto market downturn, digital asset-focused venture capital firm Digital Currency Group (DCG) has announced it is closing its subsidiary TradeBlock which offers its trading services to institutional investors.

    Microsoft’s Smith Calls for More Regulation of Artificial Intelligence

    Artificial intelligence (AI) may the “the most consequential” technological change in our lifetime, and governments now need to learn how to control it, according to Microsoft President Brad Smith.

    DCG’s Subsidiary TradeBlock Is Shutting Its Doors: Bloomberg News

    TradeBlock, an institutional investor focused subsidiary of Barry Silbert’s crypto conglomerate Digital Currency Group, is closing down, according to Bloomberg News. 

    Seven Central Banks Contemplate the Future of Retail CBDCs in Latest Report

    The Bank for International Settlements, which serves as a “bank for central banks,” released its latest paper examining retail central bank digital currencies, as its members “are approaching a point” as to whether or not they should move forward in their CBDC work.

    Crypto-Assets Impact on Traditional Markets Is Small, but Can Pose Systemic Risk: EU Watchdog

    Europe’s financial overseer does not seem overly concerned about cryptocurrencies’ impact on the financial system, but still said regulators should monitor risks in case.