Senator Cynthia Lummis has presented a groundbreaking proposal to establish a Bitcoin strategic reserve for the US, aiming to accumulate at least 1 million BTC, which represents 5% of the total supply. This initiative was announced at the Bitcoin2024 conference, with the goal of positioning the US as a Bitcoin “superpower.” Former President Donald J.
Regulation
The Democratic National Committee (DNC) has recently received a letter from a group of Democrat politicians urging the party to shift its stance on cryptocurrency and blockchain technology. The letter emphasizes the importance of embracing digital assets for American innovation, economic growth, and financial inclusion. Current Stance on Crypto Despite some Democrats such as Nancy
President Donald Trump recently made bold claims about his plans for Bitcoin and the cryptocurrency industry if he were to be re-elected. He emphasized the importance of the US becoming a “Bitcoin superpower” and maintaining its lead over competitors like China. Trump expressed his commitment to holding onto the roughly 200,000 Bitcoins that the US
Recent developments in the UK have shed light on the divergent paths taken by two major crypto companies, Coinbase and Revolut, when it comes to regulatory compliance and licensing. While Coinbase’s subsidiary, CB Payments Limited, faced a hefty fine of £3.5 million for Anti-Money Laundering breaches, Revolut secured a restricted banking license from the UK’s
The crypto industry has been facing numerous challenges under the current administration, as highlighted by Andreessen Horowitz (a16z) founders Ben Horowitz and Marc Andreessen. They recently discussed the regulatory hurdles that have been stifling innovation and growth in the sector. One of the key issues they criticized was the Securities and Exchange Commission’s (SEC) lack
The recent move by the Russian State Duma to legalize Bitcoin mining and allow the use of crypto for international trade represents a significant shift in the country’s approach to digital assets. The bill, pending final approval, aims to address the challenges faced by Russian banks due to regulatory constraints and international sanctions. It establishes
Recently, the United States House of Representatives passed the Financial Technology Protection Act to address the increasing concerns over the use of digital platforms for illicit activities and terrorism financing. This bill, introduced by Representative Zach Nunn in April 2023, was unanimously approved by the House on July 22, 2024. The main focus of the
As the digital landscape continues to evolve, the Digital Chamber has urged Vice President Kamala Harris to adopt a forward-looking approach to digital assets and blockchain technology. These technologies hold immense potential for innovation, economic growth, and financial inclusion, making them essential components for the future of the economy. Despite the cautious approach of the
With the recent speculation surrounding former President Donald Trump’s support for Bitcoin, DAIM CEO and founder Brian Korshain has voiced strong optimism about the potential impact it could have on the cryptocurrency. Korshain believes that Trump’s rumored plan to make Bitcoin a strategic reserve asset for the US government is not only possible but could
A recent analysis by 10x Research has raised concerns about the potential consequences of President Joe Biden’s withdrawal from the 2024 presidential race. According to the firm, former President Donald Trump could secure a “decisive victory” in the November election if no credible candidate emerges to challenge him. This prediction has significant implications for both
