US Senator Cynthia Lummis has criticized President Biden’s proposed tax on cryptocurrency miners, calling it a “blatant attempt by the administration to pick winners and losers.” The Wyoming Republican accused the administration of attempting to tax the digital asset industry out of existence. She also spoke out against the proposal at the Bitcoin 2023 conference
Blockchain
Nike’s web3 platform, .SWOOSH, has reportedly generated over $1 million in sales from its first sneaker-themed non-fungible token (NFT) collection. The success of the sales suggests that the demand for well-designed shoes in the metaverse is high, despite some initial technical difficulties and delays. The .SWOOSH platform was launched in November 2022, with the aim
Microsoft President Brad Smith has called for the government to take a more active role in controlling the development of artificial intelligence (AI). Speaking at a panel discussion in Washington, Smith stated that AI may be the most consequential technological change in our lifetime and that the government needs to move faster to stay on
The European Union’s financial markets regulator, the European Securities and Markets Authority (ESMA), has released an investor protection statement warning investment firms to ensure clients are aware of the regulatory status of the products they offer, including cryptocurrency. ESMA is concerned about investment firms that offer unregulated products and services in the EU. Regulatory Status
Cabin, a digital-native coliving city project, has announced the launch of the first-ever network city, which aims to revolutionize its initiative by integrating crypto governance. The globally-distributed property is designed for remote workers and creators who love nature and seeks to provide an affordable and accessible alternative to traditional neighborhoods. The network city is a
Binance, the world’s largest cryptocurrency exchange, has reportedly mixed its customer funds with company revenues in the United States. According to a Reuters report, this practice has occurred regularly in bank accounts held by the exchange at the now-defunct crypto-friendly bank Silvergate. The report cited an individual who was privy to Binance’s group finances. Violation
China Central Television recently aired a segment on virtual assets that caught the attention of people worldwide. The brief segment featured bitcoin, nonfungible tokens, and announced the implementation of a mandatory licensing system for virtual asset trading platforms by Hong Kong’s Securities and Futures Commission starting June 1. Guidelines for Virtual Asset Trading Platforms As
The National Anti-corruption Bureau of Ukraine (NABU) has joined forces with the United States Embassy to explore the country’s cryptocurrency sector in a bid to expose money launderers. The NABU has declared that its efforts will be supported financially by the US State Department’s Bureau of International Narcotics and Law Enforcement Affairs. NABU’s Cryptocurrency Investigation
Republican Senator Tim Scott has formally announced his candidacy for the US presidency, joining a list of candidates that includes former President Donald Trump. Scott, who is South Carolina’s first Black senator and the ranking member of the Senate Banking Committee, has been an advocate for digital assets regulation and consumer protection. He aims to
Coinbase, a cryptocurrency exchange, is launching a new TV campaign in Washington DC this week to promote the future of cryptocurrency amid its ongoing fight with US regulators. The CEO of Coinbase, Brian Armstrong, stars in the almost two-minute-long video, in which he lays out the benefits of crypto and calls out its “naive view”.