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The rule was first proposed by a U.S. money-laundering watchdog FinCEN in late 2020. Treasury Secretary Janet Yellen (Anna Moneymaker/Getty Images, modified by CoinDesk) A controversial proposed rule that would enforce know-your-customer rules on unhosted or self-hosted crypto wallets may again be under consideration by the U.S. federal government. The rule was first proposed at the end of 2020 by...
A provision in the America COMPETES Act would give the Treasury Secretary the power to block U.S. firms from interacting with some crypto transactions or exchanges, if it becomes law. Rep. Jim Himes (D-Conn.) introduced a provision allowing the Treasury Secretary to block certain financial transactions to a bill aimed at spurring competition with China. (Al Drago/Bloomberg via Getty Images)...
TheInternational Monetary Fund’s board urged El Salvador to strip Bitcoin of its status as legal currency due to its large risks, highlighting a major obstacle for the nation’s efforts to get a loan from the institution. El Salvador last year sought a $1.3 billion IMF loan, but talks have been stymied by the lender’s Bitcoin concerns, and any program would...
The nation now has over 1,500 bitcoins and plans to issue a $1 billion, 10-year bitcoin bond this year. El Salvador bought 410 bitcoin for $15 million Friday, the country’s President Nayib Bukele said on Twitter. “Some guys are selling really cheap,” he added in his tweet. It is difficult to verify such claims on the public blockchain, since a...
Last week, A16z reportedly said it would raise $3.5 billion for its VC fund, as well as another $1 billion for Web3 seed investments. Last week, A16z reportedly said it would raise $3.5 billion for its VC fund, as well as another $1 billion for Web3 seed investments. A16z, a VC company with investments in Protocol Labs, Polychain Capital and...
Solana and other blockchains may snag market share from Ethereum over time, the bank said in a research note. TheSolanablockchain could become the “Visa of the digital asset ecosystem” as it focuses on scalability, low transaction fees and ease of use, Bank of America told clients in a research note after hosting Solana Foundation member Lily Liu. Solana has experienced...
Even if a country doesn’t agree with the fundamentals of bitcoin, they will be forced to acquire some as a form of insurance, Fidelity wrote in a recent report. While 2020 and 2021 are considered the years of bitcoin’s institutional adoption,in a new reportFidelity Digital Assets wrote that 2022 might be the era of adoption of bitcoin by sovereigns. The...
Users can purchase belt buckles, chargers, and other merchandise as of Friday. Portrait of cute red Shiba Inu dog looking at camera (Federico Moreno via Getty Images) What to know Dogecoin (DOGE) payments wentlive on the Tesla storein Asian hours on Friday, with prices seeing an 11% increase shortly afterward. Thestoredisplays pricing information in both U.S. dollars and dogecoin. The...
The famed fund manager had invested heavily in bitcoin in his funds before. Bill Miller (Tim Boyle/Bloomberg via Getty Images) Nelson Wang is CoinDesk's news editor for the East Coast. He holds BTC and ETH above CoinDesk's disclosure threshold of $1,000. Market-beating fund manager and billionaire Bill Miller is so bullish on bitcoin that it and investments tied closely to...
The development of an in-house stablecoin was first discovered in the source code of Paypal’s iPhone app by developer Steve Moser. The development of an in-house stablecoin was first discovered in the source code of Paypal’s iPhone app by developer Steve Moser. American fintech giant PayPal Holdings has reportedly confirmed its intent to launch its own stablecoin named PayPal Coin....