• digital dollar private sector powell
    Cryptocurrencies,  Politics,  Regulation,  Technology

    Building digital dollar requires private sector’s help: Fed Chairman

    Jerome Powell told an international financial conference that ‘the private sector has the experience and expertise’ needed to help build digital currencies

    The chairman of the Federal Reserve said today that the U.S. government will have to work with private firms to improve the way money is moved around the world. Speaking via video at a Bank for International Settlement (BIS) conference in Basel, Switzerland on March 18, Jerome Powell acknowledged that the current system of cross-border payments needs to be improved and digitalized. He said: “The COVID crisis as brought into even sharper focus the need to address the limitations of our current arrangements for cross-border payments.” It has, he said, “shined a light on the less efficient areas of our current payment system and accelerated the desire for improvement and digitalization.” A key…

  • Arthur Hayes arrest
    Regulation

    Arthur Hayes agrees to arrest on Bank Secrecy charges

    The former CEO of the BitMEX crypto derivatives exchange will turn himself in to U.S. authorities, be released on bail and allowed to return to Singapore

    Benjamin’s filing with the court noted that after “extensive discussions” Hayes and the DoJ agreed to a $10 million bond secured by $1 million in cash, to be co-signed by his mother. In a very unusual agreement, Hayes will be allowed to retain his passport and reside in Singapore during the trial, returning as needed. He will sign a waiver of extradition form.

  • Chinese firm buys $155M bitcoin mining machines
    Bitcoin,  Cryptocurrencies,  Regulation

    Chinese firm enters Bitcoin mining with $155M ASIC machine order

    Despite China’s growing pollution-based crackdown on Bitcoin production, Zhongjia Bochuang wants 2,000 crypto mining machines running by May, with plans to grow to 20,000

    While the mining machines are a new business line for ZJBC, it is not the AI and cloud communications-focused company's first foray into the cryptocurrency mining business. It noted that one of its subsidiaries, Changshi Telecommunication, has been building and maintaining blockchain mining farms since 2018.

  • markets report bitcoin price
    Bitcoin,  Regulation

    Markets Report: Bitcoin sees $6K drop as Grayscale CEO eyes ‘buying opportunity’

    Concerns that India will enact a full cryptocurrency ban are once again back in the spotlight after a report in mainstream media

    Bitcoin is trailing as it starts a new week thanks to fresh worries over a blanket ban by India—is that it for the bull run? After hitting new all-time highs of almost $62,000 over the weekend, Indian lawmakers have burst Bitcoin’s bubble, sparking the biggest daily losses in history.