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The new legislation aims to protect crypto investors from disputes, manipulation or fraud potentially stemming from transactions occuring off-chain. A new bill in the United States aims to require cryptocurrency service providers to report all blockchain transactions to a government repository. On Sept. 28, U.S. Democrat Representative Don Beyer introduced the “Off-Chain Digital Commodity Transaction Reporting Act,” requiring trading platforms to report all transactions to a repository registered with the Commodity Futures Trading Commission (CFTC). The new legislation aims to protect cryptocurrency investors from disputes, manipulation or fraud potentially stemming from transaction s occurring off -chain , or transaction s that take place beyond the blockchain network. Unlike on -chain transaction s, off -chain crypto transaction s are not instantly logged on a blockchain but are processed through secondary layers, thus creating some difficulties in being tracked. With the emergenc...

Florida's current governor announced his bid for the 2024 U.S. presidency during a Twitter Space with Elon Musk and rounded off with remarks on the cryptocurrency. Ron DeSantis, the current governor of Florida, has officially thrown his hat in the 2024 United States presidential ring and has notably promised to “protect” Bitcoin (BTC) if he gets the job. On May 24, Twitter boss Elon Musk joined DeSantis and around 520,000 live listeners in the Twitter broadcast of his announcement, which was moderated by venture capitalist David Sacks. “As president , we’ll protect the ability to do things like Bitcoin,” said DeSantis. He added “there’s risks involved with it,” but the people interested in the cryptocurrency “are sophisticated” and “can make decisions.” “You have every right to do Bitcoin. The only reason these people in Washington don’t like it, is because they don’t control it.” DeSantis called those on Capitol Hill “central planners” who “want to have control over society.” ...

Also Read: XRP And Cardano Records Buying Amid Largest Crypto Funds Outflow advertisement X Crypto License: What Next With the license approval in Rhode Island, the platform will be able to legally offer cryptocurrency wallet services. X users will now be able to store, send, and receive various cryptocurrencies, which could turn out to be a game changing move in the platform’s payments space. This move would also help introduce cryptocurrencies to a broader audience, and effectively expand the Crypto Market to new users. Interestingly, it remains to be seen how Dogecoin (DOGE) would fit in in the Twitter crypto wallet plans considering that the memecoin has a history of Tweet mentions from Elon Musk. Many a time in the past, the DOGE price would grew sharply when Musk mentioned something about the crypto token. Elon Musk & The Everything App The crypto wallet launch plans could also help Musk expand the platform into other financial service...

Also Read: Terra And Do Kwon Cite XRP Ruling As Precedent To Dismiss US SEC Lawsuit advertisement The FTX collapse had a blanket effect on cryptocurrency prices for over a month’s time in the last quarter of 2022, as retail and institutional investors lost millions of dollars in investments. Ellison reportedly wrote in her personal notes three months before the collapse that she was “unhappy and overwhelmed” with her job as Alameda CEO. Caroline Ellison’s Personal Notes The FTX management is currently fighting several lawsuits across the world over allegations of fund mismanagement. As part of the ongoing trial of Sam Bankman-Fried , prosecutors have accessed documents and notes belonging to Ellison. According to The New York Times report, the Alameda CEO felt like going home and turning off her phone to escape from the drama around FTX and Alameda Research. Ellison reportedly wrote in an online note: “I have been feeling pr...

This week’s episode of Market Talks discusses the future of BTC mining and how miners can maximize profits, as well as the upcoming Bitcoin halving and its impact on the mining industry. On the latest episode of Cointelegraph’s Market Talks , host Ray Salmond spoke with Dan Rosen, associate director of derivatives at Luxor, a United States-based Bitcoin (BTC) mining pool, research hub and service provider. The show touched on a number of broad topics, including Rosen’s view on how the upcoming Bitcoin halving will impact BTC price, why Bitcoin’s volatility is set to remain in the double-digits for years to come, and miners’ ability to hedge their operations via hash rate derivatives. According to Rosen: “Any maturing asset goes through experiences of high volatility when it first launches, and if you compare Bitcoin to the tech stocks of the early 90s, like Apple and Google, their volatility was astronomical. Bitcoin has also touched crazy high levels of volatility in the 70% to 100...

Marathon Digital also noted that the decrease in transaction fees for June was not a cause for concern, highlighting that Bitcoin Ordinals had provided a boost in the previous month. Bitcoin mining company Marathon Digital has linked the recent slump in its total amount of Bitcoin's (BTC) mined in June to the weather conditions in Texas and a drop in transaction fees. According to a July 5 statement, Marathon Digital experienced a “21%" decline in June for the total amount of Bitcoin mined compared to the previous month of May.  The primary reason cited for the decline of production in June – which saw 979 Bitcoin produced throughout the month – was the impact of the weather conditions in Texas, where Marathon's main operations are located.  It's worth noting that June marks the transition from spring to summer in Texas. “The decreased production relative to last month was due to weather-related curtailment in Texas and a significant decrease in transaction fees.” ...

US Denies Contingency Plan According to a report by WSJ, Treasury officials had quietly been preparing for the possibility of delaying certain payments after June 1. With the deadline fast approaching and Congress yet to raise the debt limit, the Treasury was seeking flexibility by considering payment delays until it had sufficient funds to cover the full day’s bills. While discussions surrounding this plan had taken place across the government, no instructions were given to agencies to alter their payment procedures. advertisement Read More: McCarthy Stays Optimistic, Claims “We Could Get Debt Ceiling Deal Any Time” Earlier reports had revealed that the Treasury reached out to counterparts in federal agencies to explore the option of delaying payments due before early June. By postponing payments until June 15, the expected influx of quarterly tax payments could potentially provide additional funding, thereby extending the default deadline into...

Banking Crisis To Deepen? Larry McDonald, a prominent market researcher and the founder of The Bear Traps Report, has voiced his concern regarding the FDIC’s desire to allow JPMorgan to take over more than 10% of deposits made by US citizens. McDonald brings up the special exemption the banking giant acquired from the FDIC, which further proves the existence of inherent desperation as the buyout bids over the weekend turned out to be incredibly weak. An unfruitful bidding could have made FRC wind up in government receivership. advertisement Read More: LUNC Developer Teases AI App Chain “Block Entropy”, LUNC Price Eyeing $0.1? In addition, while discussing his perspectives on the upcoming FOMC meeting, McDonald expressed his suspicion that the Federal Reserve needs to “tone down” their rate hikes because anything on the hawkish side might result in an even greater degree of financial instability in the market. Recently, the banking r...

Musk Unveils Subscription Feature Twitter’s most recent modification, which emphasizes user-focused enhancements, intends to improve follower engagement and develop new revenue streams on the site by enabling people all over the world to monetize different kinds of tweets. Twitter users now have the opportunity to charge a monthly fee to their followers by using the newly launched “Subscriptions” feature. Users can choose one of the price points that Twitter has established for this service and once the payment has been processed, subscribers are granted access to the creator’s exclusive content, which is hidden from the view of the general public. advertisement Support content creators around the world in near & far away places! For many this represents a vital source of income & enables them to put more time into creating great content for you. https://t.co/XzrFMLPytB — Elon Musk (@elonmusk) April 29, 2023 ...