El Salvador’s finance minister defended the country’s strategy to adopt Bitcoin as legal tender even as critics urge the nation to ditch the experiment as the cryptocurrency world suffers through a bear market. Almost a year into the country’s bet on Bitcoin, Alejandro Zelaya said the digital currency has brought Read more…
A bill was introduced in the Senate today that would prevent Americans from needing to disclose capital gains or losses on most smaller-scale crypto transactions. Introduced by senators Patrick Toomey (R-PA) and Kyrsten Sinema (D-AZ), the Cryptocurrency Tax Fairness Act would exempt reporting crypto transactions of less than $50, or Read more…
“Record-breaking heat across Texas has pushed its fragile power grid to the brink,” reports NBC News. “But extreme temperatures are doing something else in the famously pro-business state: stirring opposition to energy-guzzling crypto miners who’ve flocked there seeking low-cost energy and a deregulatory stance.” Ten industrial-scale crypto miners will consume Read more…
“Russian President Vladimir Putin approved a law Friday prohibiting the use of digital assets as forms of payments in Russia…” reports the tech/policy news site Protocol. The ban on crypto-form payments also apparently applies to NFTs: The new law also includes a provision that requires crypto exchanges and providers refuse Read more…
Nearly all industrial scale Bitcoin miners in Texas have shut off their machines as the companies brace for a heat wave that is expected to push the state’s power grid near its breaking point. From a report: Miners such as Riot Blockchain, Argo Blockchain and Core Scientific, who operate millions Read more…
What exactly happened after El Salvador president Nayib Bukele made Bitcoin a legal tender for the country? “As Bitcoin has dropped more than 50 percent of its value this year, there have been suggestions that El Salvador’s investment has pushed the country to the brink of bankruptcy,” writes a Salvadoran Read more…
A controversial bitcoin mining operation on the largest of central New York’s Finger Lakes does not meet the requirements of state climate laws, New York’s Department of Environmental Conservation ruled Thursday, denying an air permit request the entity’s owner, Greenidge Generation LLC., made in March 2021. Renewing the air permit Read more…