• bitcoin hurts Tesla environmental credentials
    Bitcoin,  Politics,  Regulation

    Is Bitcoin endangering the ‘green’ credentials of companies like Tesla?

    Climate-conscious governments and activists are waking up to the fact that BTC is a power-hungry cryptocurrency, which could come back to bite the institutions whose investments are powering its price boom

    BCA Research’s chief global strategist, Peter Berezin, predicted that Bitcoin’s Achilles heel will begin to scare off corporate investors off and cause governments to erect more obstacles to it success. The first to flee will be environmental, social, and governance-focused funds he said, adding that they will shun companies involved with Bitcoin, not just the cryptocurrency itself.

  • Powell Digital dollar high priority
    Cryptocurrencies,  Politics,  Regulation

    Fed’s Powell: 2021 ‘an important year’ for digital dollar

    Federal Reserve Chairman Jerome Powell said 2021 will be a key year for the U.S. as it decides whether to create a digital currency, and what it would look like

    Speaking before the House Financial Services Committee on Feb. 24, Powell said 2021 “is going to be the year that we engage with the public pretty actively” on the digital dollar project. He added that there are still significant technical challenges to be met, as well as major policy decisions to be made, before the U.S. decides to create a digital dollar.

  • Nigeria close crypto bank accounts
    Cryptocurrencies,  Regulation

    ‘Crypto is a threat’: Central Bank of Nigeria closes exchanges’ bank accounts

    An official of the Central Bank suggested that cryptocurrencies are best suited for illegal uses, and said he was alarmed by their use as a speculative asset

    “The question that one may need to ask therefore is, why any entity would disguise its transactions if they were legal," asked Central Bank of Nigeria acting director of corporate communications Osita Nwanisobi. "It is on the basis of this opacity that cryptocurrencies have become well-suited for conducting many illegal activities including money laundering, terrorism financing, purchase of small arms and light weapons, and tax evasion.”

  • Treasury delays cold wallet monitoring
    Regulation

    Good and bad: Treasury delays cold wallet monitoring rule

    The delay gives crypto more time to fight it, but shows that regulators plan to press ahead in the new administration

    Proposed on Dec. 18, the regulation would require exchanges to collect personal know-your-customer data from private or “unhosted” cold wallets on the sending or receiving end of transactions of more than $3,000. The Financial Crimes Enforcement Network (FinCEN) originally gave the proposal a very unusual 15-day comment period, which included the Christmas and New Year’s holidays.