Regulation

MicroStrategy recently made public plans to offer $400 million worth of senior secured notes to purchase additional bitcoins. The company, founded in 1989, would be acquiring its third security debt offering with over $2 billion worth of Bitcoin invested through credit raised from the sale of convertible security tokens and direct cash purchases. The fortune 500 company intends to offer senior secured notes due 2028. However, it will depend on market conditions like volatility, among others. The company has no…

The Financial Conduct Authority (FCA) has announced that a “significantly high number” of crypto firms operating in the UK are failing to meet current anti-money laundering (AML) rules. The regulator pointed out that up to 50 companies dealing in crypto had withdrawn applications for the Temporary Registrations Regime (TRR) issued last year. The permit allowed crypto service providers to continue trading until the FCA could formally approve or reject their operations. We are extending the Temporary Registrations Regime for existing…

Input-Output Hong Kong, one of the companies behind the Cardano blockchain, has unveiled its plan for the rollout of its new smart contract platform on May 27. Alonzo will be implemented in September 2021 as the next step in a series of upgrades to the blockchain. It is a hard fork that consists of a series of color-coded testnets. IOG has started the Alonzo Blue test, which will bring new features like smart contracts on the Cardano network and a…

According to Governor Perry Warjiyo, Bank Indonesia aims to introduce a digital rupiah currency. The country’s Central Bank has not yet decided which platform to use to utilize the currency, but the debate is ongoing. Indonesia saw a rise in digital currency transactions from the onset of the global pandemic COVID-19. As more countries continue to adopt the Central Bank-issued digital currencies, Indonesia doesn’t want to lag. In a report released last year, the number of crypto users in the…

Director of Research at the IOTA Foundation, Billy Sanders, said the IOTA congestion control algorithm is now implemented into GoShimmer, and soon they will release the Nectar. The IOTA Congestion Control Algorithm (ICCA) remodels the transaction process to reduce potential congestion and regulate writing access to the ledger. The ICCA accomplishes this through the scheduler, the rate setter, and the blacklister. The scheduler decides the transactions that are written into the ledger and gossiped. The rate setter uses a classical…

American stockbroker and founding member of the Euro Pacific Asset Management Peter Schiff is skeptical about Elon Musk's idea of a sustainable BTC mining practice. The Tesla CEO attended a meeting hosted by Micro Strategy's head Michael Saylor to urge the North American Bitcoin miners and the global mining community to publish their current and planned energy usage.  In addition to that, the miners in attendance agreed to develop a Bitcoin Mining Council that will encourage sustainable initiatives on a…

Elon Musk's claims of Dogecoin's superiority sparked a critical view from Ethereum's creator Vitalik Buterin, who firmly disagrees with him. In a blog post published on May 23, Vitalik gave some detailed thoughts on blockchain scalability. In part, the post refuted Elon's claim that a massive increase to Dogecoin's block size would scale the network to a victorious extent. On May 15, Elon claimed that if Doge speeds up block time 10X, it increases block size 10X & drops the…

The Treasury Department has made it official that any cryptocurrency transfer worth $10,000 or more will be reported to the Internal Revenue Service.  The step marks the first of many in the crackdown on cryptocurrency markets and transactions. The Treasury Department said that cryptocurrency already presents a significant detection issue by enabling criminal activity in broadest measure, including tax evasion. U.S. Treasury's Crypto Clampdown Bitcoin has always struggled to marginalize official bodies. Janet Yellen, known for her crypto skepticism, and…

In the hope of profiting from Biden's move toward a new zero-emissions goal, Tesla Inc. (TSLA.O) seeks to enter a multimillion-dollar US renewable credit market. Elon Musk also announced that Tesla had suspended car shopping using Bitcoin to raise concerns concerning cryptocurrency's climate effect. The electric car manufacturer is one of around eight companies with a pending application for power generation and renewable credits in the EPA. The Environmental Protection Agency generates a list with some information, but not names…