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Maine state treasurer to focus on abandoned crypto accounts

The Office of the Maine State Treasurer issued a program evaluation report in November with the intention to prioritize the management of abandoned cryptocurrency accounts.  Unclaimed cryptocurrencies continue to be a well-known issue in the industry, especially in the Ethereum ecosystem, where millions are believed to lay in unclaimed presale wallets. Cryptocurrency

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Maine state treasurer to focus on handling abandoned cryptocurrency accounts

A report issued by the Office of the Maine State Treasurer highlighted the U.S. state’s interest in officially managing the abandoned and recovered crypto assets.The program evaluation report of Maine uncovered the state’s lack of preparedness when it comes to handling cryptocurrencies. It read:“Our office does not currently handle cryptocurrency,

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India state refiner HPCL uses blockchain to verify purchase orders

India’s state-run refiner Hindustan Petroleum (HPCL), one of India’s largest oil and gas companies, is launching a blockchain system to enable automated verification of purchase orders (POs).HPCL has partnered with the blockchain software firm Zupple Labs to integrate its blockchain-based digital credentialing technology into the purchase order system, the firms

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Indian state governments spur blockchain adoption in public administration

Ever since Bitcoin (BTC) popularized blockchain technology worldwide, the tech has found its way into myriad processes, from finance to public administration.What started as a flex statement for early adopters has now become a way of revamping legacy systems and improving immutability, transparency and decentralization.Despite its proven real-world use cases,

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Elon Musk’s X moves closer to crypto payments with new state license

Rhode Island’s regulators have granted X (Twitter) a currency transmitter license marking a step forward for the company’s foray into the financial services sector. The license is legally required for companies conducting financial activities on behalf of users related to sending and receiving money — a definition that includes both fiat

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FTX-Linked Farmington State Bank Slapped with Fed Enforcement Action

Farmington, which operates under its Moonstone Bank name, “improperly” pivoted to a pro-digital assets business plan in 2022 without notifying, and obtaining approval from, its supervisors, the document said. The joint enforcement action from the Federal Reserve Board and the Washington State Department of Financial Institutions bars the Washington state-based

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