If the 2024 halving follows the same pattern as earlier ones, the BTC mining industry would see “lower competitive intensity” due to the sector’s wipe-out in the bear market of 2022, and higher bitcoin prices, which would deliver improved profitability before additional mining capacity comes online, the report added.
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“The silver lining, to the extent there is one of this type of development, is that it will force the establishment of case law that will inform how crypto is regulated and it will set some rules of the road for crypto to comply with,” Quick said.
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Crypto executives have expressed irritation over the latest White House economic report — which notably features an entire chapter dedicated to casting doubts on the merit of digital assets.The Economic Report of the President, released March 20, marks the first time the White House has included a section on digital CryptoFUDHouseindustryOutragedReportSlamsWhite Read More
Taiwan’s Financial Supervisory Commission is set to be announced as the body that will oversee and regulate the virtual asset industry. According to a report, the collapse of crypto exchanges like FTX prompted Taiwanese officials to seek ways of protecting users against similar events should they recur.
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USD Coin (USDC), the world’s second-largest stablecoin, may simply have been in the wrong place at the wrong time. The place was Silicon Valley Bank (SVB), a commercial bank with $209 billion in assets, where USDC issuer Circle had deposited $3.3 billion of its cash reserves for safekeeping. The time was BitcoinCryptocryptoexchangeDePegEmergeExchangesindustryRattledStrongerUSDC Read More
“Our next steps would be for the virtual asset service provider industry to collaborate with the FSC to define regulatory operations,” he said, saying one of the first steps is to form an industry self-regulatory body to help develop a set of rules.
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The organization representing Russia’s crypto sector has asked the government in Moscow to clarify a proposal to introduce criminal liability for “gray” miners. The draft legislation seeks to punish those who fail to report their income to the state and share information about their digital assets.
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Many outside the crypto industry first heard of nonfungible tokens only within the last year or so, with most mainstream coverage focused on the digital artwork market. Those not in the know may well have thought NFTs would amount to nothing more than digital collectibles. However, industry pioneers grasped the industryLeadersNFTsRegulatorsScrutinizeStartTips Read More
The downfall of Silvergate, Signature and Silicon Valley banks have wounded digital assets. But crypto might one day work with big banks if the industry can mature, WAX CEO William Quigley and Maicon CEO Alex Liu suggested.
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“Web 3 can be one of the biggest factors in bringing to fruition India’s dream of becoming a $5 trillion economy. Negative focus on cryptocurrency, a bit obsessive in the earlier years, has affected the perception about Web3 and its usage. The blockchain narrative needs a paradigm shift from the CryptoEngagingFinallyIndiasindustryLawmakersSees Read More