Bitcoin Regulation

Janet Yellen Warns Bitcoin Is ‘Extremely Inefficient’ and ‘Highly Speculative’ as BTC Price Plunges

<div class=”featured_image_container”> </div> <strong>U.S. Treasury Secretary Janet Yellen has warned about the dangers of bitcoin as the price of the cryptocurrency took a nosedive. She sees bitcoin as a highly speculative asset and is worried about potential losses investors can suffer. Yellen also believes that bitcoin is not widely used as a transaction mechanism due …

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Janet Yellen Stresses Importance of Crypto Regulation, Making Sure Bitcoin Is Not Used in Illicit Transactions

<div class=”featured_image_container”> </div> <strong>U.S. Treasury Secretary Janet Yellen has reaffirmed that it is important to ensure that bitcoin and other cryptocurrencies are not used for illicit financing. In addition, she stresses the importance of regulating institutions that deal with bitcoin.</strong> Janet Yellen Claims It’s Important to Make Sure Bitcoin Is Not Used for Illicit Financing …

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Russian crypto mining firm scrambles to meet foreign demand

Global cryptocurrency mining operators are increasingly moving their equipment to Russia and the Commonwealth of Independent States as they chase lower energy prices. Igor Runets, founder and CEO of Russian crypto mining firm BitRiver, told local news agency Kommersant Thursday that the company is actively building up its power capacity to meet increasing demand from …

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Evolve wins second Canadian Bitcoin ETF as Ontario regulator approves application

North America’s second Bitcoin (BTC) exchange-traded fund received regulatory approval on Tuesday, offering another potential entry point for institutional investors to access digital assets. Less than three weeks after filing a preliminary prospectus for a Bitcoin ETF, Evolve Funds Group Inc announced Tuesday that its fund has been approved by the Ontario Securities Commission, or OSC. …

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Former British MP says central banks should ban Bitcoin

Nick Boles, a former Member of Parliament for Grantham and Stamford from 2010 to 2019, took to Twitter Tuesday to criticize Bitcoin over its negative environmental impact. He retweeted a post from BBC correspondent Rory Cellan-Jones showing that Bitcoin has overtaken Argentina in annual energy consumption. The data was compiled by the University of Cambridge …

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Miami mayor aiming for ‘the most progressive crypto laws’

Francis Suarez, who has served as the mayor of Miami since 2017, wants to make the city the most attractive in the United States for those in the crypto and blockchain industry. In an interview with Forbes published Sunday, Suarez said lawmakers in Miami were looking into the policies of crypto-friendly areas like Wyoming and New …

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Ripple Formally Responds to SEC Allegations — Claims SEC Picking Winners and Losers, Distorting Facts About XRP

<div class=”featured_image_container”> </div> <strong>Ripple Labs has officially responded to the complaint by the U.S. Securities and Exchange Commission (SEC). Besides explaining that the <a class=”lar-automated-link” href=”https://markets.bitcoin.com/crypto/XRP” target=”_blank” rel=”noopener”>XRP</a> cryptocurrency is not a security, Ripple accuses the securities regulator of being out of step, picking winners and losers, as well as distorting facts regarding the cryptocurrency.</strong> …

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Indian Central Bank Sees Cryptocurrencies Gaining Popularity, Exploring Digital Rupee

<div class=”featured_image_container”> </div> <strong>India’s central bank, the Reserve Bank of India (RBI), has published a booklet with a section about cryptocurrency and the digital rupee. The central bank acknowledged that cryptocurrencies have gained popularity in recent years and confirmed that it is exploring the need for a central bank digital currency.</strong> RBI Says Crypto Has …

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Harvard Economics Professor: Governments Will Not Allow Bitcoin on a Big Scale and They Will Win

<div class=”featured_image_container”> </div> <strong>Harvard Professor of Economics and former Chief Economist at the International Monetary Fund (IMF) Kenneth Rogoff believes that governments will not allow bitcoin to flourish on a large scale. “The regulation will come in. The government will win,” he said. The professor also discussed the likelihood of a bitcoin bubble.</strong> Harvard Professor …

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Altcoins rally while Bitcoin bulls are thwarted by resistance at $34K

Bitcoin’s (BTC) tumble below $30,000 was short-lived as the top cryptocurrency found a new wave of support, including a $10 million ‘buy the dip’ moment from MicroStrategy.  Data from Cointelegraph Markets and TradingView shows the strong inflows have helped lift BTC 4.92% to a daily high at $33,866. As the prospect of the Biden administration …

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