More Than a Half Dozen US Securities Regulators File Actions Against Crypto Lender Nexo

Crypto lender Nexo is having issues with state authorities from California, New York, Washington, Kentucky, Vermont, South Carolina, and Maryland. The enforcement actions from multiple state securities regulators detail that Nexo’s Earn Interest Product (EIP) may be in violation of securities laws. Nexo Targeted by Several Securities Regulators Over the Crypto Lender’s Earn Interest Product Following the issues that took place last year against Celsius’ and Blockfi’s interest-bearing accounts, the crypto lender Nexo has been targeted by several state securities regulators concerning the company’s Earn Interest Product (EIP). The state…

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Moscow Exchange Suggests Issuing Crypto Receipts for Those Afraid of Blockchain

The Moscow Exchange has proposed to legalize the issuance of receipts for digital financial assets. The trading platform says this will allow custodians to offer clients who are not ready for distributed ledgers to essentially work with securities. MOEX also plans to become a licensed crypto exchange operator. Largest Russian Stock Exchange Gears Up to Enter Digital Asset Market The leading exchange for equities and derivatives in Russia has drafted new legislation that would authorize depositories to issue receipts for digital financial assets (DFAs). In current Russian law, the broad…

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Framework to ban members of Congress and SCOTUS from trading stocks includes crypto provision

Members of the United States House of Representatives and Senate as well as Supreme Court justices currently trading cryptocurrencies may have to stop HODLing while in office should a bill get enough votes. According to a framework released on Thursday, chair Zoe Lofgren of the Committee on House Administration — responsible for the day-to-day operations of the House — said she had a “meaningful and effective plan to combat financial conflicts of interest” in the U.S. Congress by restricting the financial activities of lawmakers and SCOTUS justices, as well as…

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XRP price breaks out of range with a 25% rally, but why?

Crypto markets are flashing a bit of green on Sept. 22 as Bitcoin (BTC) price tacked on a 4.7% gain to trade above $19,300 and Ether (ETH) surged 6.5% to recapture the $1,300 level.  RSR and Astar Network (ASTAR) also surged by 23% and 17% respectively, but the more notable mover of the day was XRP. Currently, XRP price reflects a near 25% gain and the asset is up 41% in the past month. According to defense lawyer James K. Filan, on Sept. 18, Ripple Labs filed a motion for…

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Ukraine to Revise Virtual Assets Law in Line With EU Crypto Rules

Work is underway in Ukraine to update the legal act that applies to cryptocurrencies in order to align the nation’s legislation with European standards. Several government institutions in Kyiv are preparing changes to the bill “On Virtual Assets,” which was signed into law earlier this year. Ukraine to Transpose European Crypto Regulations Into National Law Ukraine’s law “On Virtual Assets,” the main piece of legislation that concerns the country’s crypto space, will be amended in accordance with the provisions of the European Union’s Markets in Crypto Assets (MiCA) legislative package.…

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Solar-Powered Crypto Farm in Australia to Prove Bitcoin Mining Can Be Green

A crypto mining data center in the state of South Australia will be running mainly on solar-generated electricity, a media report reveals. The coin minting facility has been set up in a region known for its energy-hungry iron ore extraction and steel production. Bitcoin Farm to Mine Cryptocurrency on Solar and Excess Energy in South Australia The ‘Steel City’ of Whyalla in South Australia has become home to a new crypto mining installation that will run on electricity generated from solar power. Operated by the Lumos Digital Mining company, the…

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Time for a breakout? Bitcoin price pushes at key resistance near $23K

On Sept. 12, Bitcoin is doing Bitcoin things as usual. Since Sept. 9 the price has broken out nicely, booking a near 16% gain and rallying into the long-term descending trendline which appears to have resistance at $23,000.  BTC/USDT 1-day chart. Source: TradingView Perhaps BTC and the wider market are turning bullish ahead of the Ethereum Merge which is scheduled for Sept. 14, or maybe the elusive bottom is finally in. Weekly chart data from TradingView shows that on June 27 and Aug. 15, Bitcoin’s relative strength index had dropped…

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3 reasons why Bitcoin traders should be bullish on BTC

Bitcoin (BTC) has been in a rut, and BTC’s price is likely to stay in its current downtrend. But like I mentioned last week, when nobody is talking about Bitcoin, that’s usually the best time to be buying Bitcoin.  In the last week, the price took another tumble, dropping below $19,000 on Sept. 6 and currently, BTC bulls are struggling to flip $19,000–$20,000 back to support. Just this week, Federal Reserve Chairman Jerome Powell reiterated the Fed’s dedication to doing literally whatever it takes to combat inflation “until the job…

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Bitcoin Mining Threatens America’s Climate Change Efforts, White House Science and Tech Department Says

The Biden administration is concerned about digital currency mining operations affecting climate change, after the U.S. Office of Science and Technology Policy published a report that says politicians should take action against crypto mining. The federal government’s entity recommends the Biden administration should encourage more research about mining’s electricity consumption and codify public policy for the entire mining industry. Office of Science and Technology Policy Report Claims Something Needs to Be Done to Stop Crypto Mining Pollution According to the U.S. Office of Science and Technology Policy (OSTP), bitcoin mining…

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UK advertising watchdog cites 2 former reality stars for crypto ads on Instagram stories

The United Kingdom’s independent advertising regulator has upheld a complaint involving former reality show Love Island contestants Eve and Jessica Gale for “triviali[zing] investment in cryptocurrency.” In a Wednesday notice, the U.K. Advertising Standards Authority, or ASA, said the reality stars promoted crypto in an Instagram story in June at the request of an influencer named Elizabeth O’Donell and upheld claims the ad was “misleading” and “irresponsible.” According to the regulator, O’Donell was not only providing trading crypto advice — as the Gales’ stories claimed — but promoting investing in…

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