CRYPTOCURRENCY
Elliptic Debunks Claims of Substantial Crypto Funding to Hamas
Elliptic, a blockchain analytics firm, refuted claims of significant cryptocurrency funding to Hamas, following a wave of reports and a letter from US lawmakers to the White House. The firm highlighted the lack of substantial evidence supporting the alleged $130 million crypto funding between August 2021 and June 2023. Despite historical endeavors by Hamas to solicit crypto donations, recent analysis reveals that the amounts garnered remain minuscule compared to the figures cited in misinformed reports.
Federal Reserve's Bowman Discusses Digital Currency Innovations Amid CBDC Debate
Federal Reserve Governor Michelle Bowman, in a discussion at Harvard Law School, explored the evolving digital payment landscape, touching on CBDC, stablecoins, and the necessity for a robust regulatory framework. While recognizing the potential of digital assets, she emphasized a cautious approach, underscoring the importance of continued research and international collaboration to navigate the digital transformation responsibly.
Prometheum's License Approval: Republican Lawmakers Challenge SEC and FINRA Decisions
Prometheum Ember Capital's designation as the first digital asset SPBD has raised concerns among Republican House Committee members.
Federal Reserve Governor Michelle W. Bowman Stresses Banking Supervision including Digital Assets
Governor Michelle W. Bowman, a member of the Board of Governors of the Federal Reserve System, emphasized the need for a responsive and responsible regulatory framework in the banking sector.
Texas lawmakers propose gold-backed state digital currency
Two Texas lawmakers have introduced bills proposing a state-based digital currency backed by gold, with each unit of the currency representing a fraction of a troy ounce of gold held in trust. The bills are set to take effect in September 2023, but have yet to be passed or presented for a vote. This move comes despite objections from several U.S. lawmakers who are against the introduction of a central bank digital currency (CBDC).
Silvergate Bank Voluntary Liquidation Sparks Controversy in Crypto Industry
The recent announcement of Silvergate Bank’s voluntary liquidation has led to a heated debate in the crypto industry, with some lawmakers labeling the sector as “risky” and “volatile.” Crypto executives and commentators have criticized these remarks and suggested that government investigations and legal attacks hastened the bank’s collapse. As Silvergate winds down, some crypto firms are seeking alternative banking partners amid concerns of regulatory crackdowns and proposed tax law changes.
Bitcoin Faces Major Resistance at 200-Week Moving Average
Bitcoin’s consolidation in the lower $20K level continues as the leading cryptocurrency has lacked significant momentum to breach this zone.
EU Lawmakers Urged to Speed Up Passage of Crypto Law
Controversial provisions of the MiCA framework aim to simplify the rise of crypto businesses across the EU's 27 member nations.
Spanish Lawmakers Receive Bitcoin in Cryptocurrency Education Campaign
All 350 Deputies of the Spanish Congress have received Bitcoin as part of an educational campaign aiming to teach legislators about the uses and functions of crypto.