Monday October 24, 2022
◾ UK Parliament introduced regulation banning unlicensed companies from offering crypto-asset services and running related advertisements. (Parliament.uk)
◾ Russia’s State Duma voted to reject the current draft of the nation’s crypto mining bill for failing to properly formulate regulatory mining principles like taxation policies. (News.bitcoin)
◾ South Korea’s Financial Service Commission plans to monitor crypto whales with $100 million in digital assets to prevent any money laundering or illicit activity. (Beincrypto)
Government & NGO Actions
◾ Argentina’s tax authority commenced 70 raids on crypto-mining farms leading to the arrest of 40 people. (Coinrepublic)
◾ Interpol has launched a metaverse allowing registered law enforcement users to tour a virtual facsimile of the INTERPOL General Secretariat headquarters in France, interact with other officers via their avatars, and take immersive training courses in forensic investigation and other policing capabilities. (Interpol)
Public Company Releases
◾ Canaan (CAN) launched its next generation of high-performance bitcoin mining rigs with a hash rate of 130TH/s and a power efficiency of up to 25J/TH. (Cision)
Restructuring, Losses and Legal News
◾ Asian crypto lender Vauld has applied to receive an additional four month creditor moratorium. (TheBlock)
◾ Staking platform Freeway temporarily froze buybacks / withdrawals due to “unprecedented volatility in the foreign exchange cryptocurrency markets[s].” (Freeway)
Protocols, Applications & Business News
◾ CoinDesk is reporting that Core Scientific (CORZ) is raising its hosting rates to just under $0.10 kw/hour. (Coindesk)
◾ Japanese credit card firm Japan Credit Bureau is testing infrastructure for a CBDC. (Cointelegraph)
◾ Failed Australian ACX exchange co-mingled customer accounts into a single fund with company money. (Smh)
◾ Spanish crypto exchange Bit2Me acquired blockchain software development company Dekalabs. (Coindesk)
◾ FTX is compensating users $6 million for losses in a phishing scam but stressed this is not a precedent and the company will “not making a habit of compensating for uses getting phished by fake versions of … companies!.” (Twitter)
◾ Gavin Wood, the co-founder of Ethereum (ETH) and Polkadot (DOT), is stepping down as CEO of Parity allowing him to focus his time on developing new technology. (Parity)
◾ Fidelity is increasing its headcount by 25% and hiring an additional 100 people in its digital asset unit. (Bloomberg)
◾ Santander is testing a blockchain platform for transferring ownership of used cars in Brazil. (Cointelegraph)
Market Data
◾ Bitcoin’s difficulty increased 3.4% yesterday moving positive for the last 6 out of 7 adjustments. (Btc.com)