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Hardware Worth $1.9 Million Stolen in Russia’s Crypto Mining Capital

Russian law enforcement is looking into the alleged theft of mining hardware valued at around $1.9 million. The powerful computing equipment disappeared from a crypto mining hotel in Irkutsk, the owners of which have been accused of large scale fraud. 100 Russians Lose Mining Machines Worth 100 Million Rubles Police in the Russian Irkutsk Oblast …

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Singapore: Is the City-State Ready to Become Asia’s Next Crypto Hub?

In a speech at the opening of the Point Zero Forum on 22 June 2022, Heng Swee Keat, Singapore’s Deputy Prime Minister and Coordinating Minister for Economic Policies, said that the country is keen to work with “responsible” blockchain and digital asset players for the growth of Singapore’s crypto ecosystem. The recent comments from Swee …

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FTX US President: Stablecoins Will Bounce Back after UST Debacle

According to Harrison, Terra’s issue points to the role of exchanges in investor protection such as screening out assets that appear illegitimate or lack transparency and long-term value. FTX US president Brett Harrison belFTX US president Brett Harrisonieves that the growing demand for stablecoins will help the fiat-backed stablecoin survive Terra’s collapse. Speaking during an …

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White House prepares policy to fight Bitcoin mining environmental impact

The United States government plans to unveil the first-ever policy targeting Bitcoin mining to address factors like the sector’s energy regulation and climatic impact. The policy proposal is expected to be out by August and will review some of the industry’s criticism, including claims of lacking a societal benefit, Bloomberg Law reported on June 2. …

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Bank of England Lambasts Stablecoins for Being “Unstable”

Bloomberg has reported that an official at the Bank of England (BoE) has criticized stablecoins, saying that they are unstable, meaning UST and USDT in particular. “Stable they are not.” Stablecoins that are meant to be an alternative to traditional currencies aren’t steady enough for widespread use by consumers, a Bank of England official says https://t.co/AvBatOeGjr …

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