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An amendment to the infrastructure bill introduced by Sens. Ron Wyden, D-Ore.; Pat Toomey, R-Pa.; and Cynthia Lummis, R-Wyo. would clarify the term “broker” doesn’t apply to miners, stakers or software developers.The language in the original bill poses a threat to the innovation and investment in the crypto space, industry advocates said.Some U.S. senators introduced an amendment to the infrastructure bill Wednesday attempting to clear up confusion about cryptocurrency “brokers,” based on language in the existing version that could roil the crypto markets if passed. The update, filed by Sens. Ron Wyden, D-Ore.; Pat Toomey, R-Pa.; and Cynthia Lummis, R-Wyo.…
The Prosecutor General’s Office of Russia has proposed to define cryptocurrency as property in the country’s Criminal Code. Decentralized digital money has already been qualified as such in the provisions of several other laws although various aspects of cryptocurrencies remain unregulated. The Prosecutor General’s Office of the Russian Federation has prepared a draft law to recognize cryptocurrency and other virtual assets as property. The legal definition will be used in court proceedings within the framework of the Criminal Code, Russia’s Prosecutor General Igor Krasnov explained in the State Duma, the lower house of parliament. Krasnov also expressed concerns over the…
With cryptocurrency, a whole new language and technology have come into vogue. While some investors are interested in the returns, others are willing to dive deep and understand the technology on which it is operating. Cryptocurrencies are virtual coins — Bitcoin, Ethereum, and Dogecoin among others — that can be mined, bought, and traded for value. The technology that enables it is called a blockchain. It is a system of recording data in a way that makes it difficult to change or cheat the network. It also makes the data available to everyone at any time, so that all transactions…
The fledgling cryptocurrency Toncoin, originally the brainchild of Russia’s social media tycoons the Durov brothers, has risen to a staggering $20bn implied capitalisation after an open community took over and completed the development process. Just three months after listing on Exmo (Eastern Europe’s largest currency exchange), Toncoin is now the exhange’s leader for turnover, higher even that Bitcoin. It is not unheard of for cryptocurrencies to appreciate in value at such a rate. Squid, a cryptocurrency aimed at fans of the hugely popular South Korean Netflix series Squid Game, shot up by more than 400 times in the week of…
Bitdeer Technologies Holding Co., the Singapore-based Bitcoin mining company controlled by Chinese billionaire Jihan Wu, is merging with Blue Safari Group Acquisition Corp. in an estimated $4 billion SPAC agreement that will allow the firm to trade in the U.S. Wu is considered one of the most influential people in the cryptocurrency markets, having served as head of equipment maker and miner Bitmain Technologies Ltd. before the company broke up. Blue Safari is a special purpose acquisition company that raised roughly $60 million in its initial public offering in June. The transaction as announced does not come with additional funding…
A pandemic-era correlation between Bitcoin and Nasdaq 100 futures is evaporating, stirring the debate about what role the token can play in investment portfolios. The 30-day correlation between the virtual currency and the futures has fallen to almost zero in recent days, from a 2021 peak toward the end of September of 0.56 — a reading that suggested tech stocks and Bitcoin were often moving in tandem. The correlation had generally been positive since February 2020. For Carsten Menke, head of next generation research with Bank Julius Baer in Zurich, the evolution of the relationship between stocks and Bitcoin hurts…
It has been another bumpy week in the world of crypto, as investors in the digital assets were given yet another test of their faith in the form of an eye-watering crash. Bitcoin began to stabilise around $60,000 overnight, but there are still concerns from some experts and investors after this week saw its value drop nearly 15 per cent from an highest near $69,000. Many analysts remain positive about the technology’s lorm-term future, suggesting the current pullback could be short-lived and that the market is heading for a new highest in the coming months. However, there are some warning…
Attorneys for Dr. Craig Wright have filed a motion for judgment as a matter of law in Kleiman v Wright, urging Judge Beth Bloom to deliver an early verdict on six counts and on damages—effectively ending the suit in his favor. A motion for judgment as a matter of law, or JMOL, is available to a party at trial if they feel the jury has no legally sufficient evidentiary basis to find in their opponent’s favor. In other words, the plaintiffs have failed to make out their case to the point that no reasonable jury could find for them. Most…
Tiger King became a global phenomenon at the start of the pandemic, leading to thousands of podcasts and articles (as well as two rival dramas based on the show, only one of which is still in development as of 2021). Though Joe Exotic has been unable to watch the show from prison and celebrate his fame, he has found a way of profiting from his global exposure. In May, he launched his own cryptocurrency, Tiger King Coin, the price of which has been going up and down following the release of Tiger King Season 2. What Is Tiger King Coin?…
The Hollywood studio Miramax filed a lawsuit on Tuesday accusing the director Quentin Tarantino of copyright infringement for his plans to sell nonfungible tokens based on the screenplay for his 1994 movie “Pulp Fiction.” The lawsuit, filed in U.S. District Court for the Central District of California, also accused Mr. Tarantino of breach of contract, trademark infringement and unfair competition, according to court documents. A representative for Mr. Tarantino did not immediately respond to a request for comment on Wednesday. The director announced the sale of the NFTs — blockchain-based collectibles whose popularity is currently booming — at an annual…