The digital tenge, Kazakhstan’s central bank digital currency (CBDC), has been declared a success after a month-long pilot project. A host of business, regulatory and technical improvements are lined up for it in 2024. During its pilot run, the digital tenge was used to provide schoolchildren with free lunches in Almaty through the local Onay!…
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The United States Securities and Exchange Commission has denied a Coinbase petition for rulemaking on transactions with cryptocurrencies that are securities. Coinbase filed the petition in July 2022 and pushed steadily for a response. SEC Chair Gary Gensler announced the commission’s decision in a Dec. 15 statement. He gave three reasons for denying Coinbase’s petition,…
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The North American Electric Reliability Corporation (NERC), a nonprofit corporation that oversees regional organizations that support energy reliability, has released its annual long-term reliability assessment of the United States electrical grid. It identified large portions of the United States and Canada as high- or elevated-risk areas for energy reliability. Those areas included Texas, where the…
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Crypto companies and institutions holding crypto assets will be able to record the value of their crypto more realistically under accounting rule changes in the United States. The Financial Accounting Standards Board (FASB) finalized the new rules on Dec. 13. The FASB is the organization that sets accounting and reporting standards for the U.S. Generally…
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Bitcoin life insurance innovator Meanwhile Group has come out with a private credit fund denominated in Bitcoin (BTC). The closed fund will offer investors a “conservative” yield in Bitcoin and lend funds in BTC to institutional counterparties at the managers’ discretion. Meanwhile Advisors are targeting a 5% yield on the Meanwhile BTC Private Credit Fund…
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Anatoly Legkodymov, co-founder and former CEO of cryptocurrency exchange Bitzlato, pleaded guilty to one count of operating an unlicensed money services business on Dec. 6. Legkodymov appeared in New York Eastern District Court in Brooklyn before Judge Eric Vitaliano. In court, Legkodymov agreed to dissolve Bitzlato and forfeit $23 million in cryptocurrency. He had filed…
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Elon Musk’s X-linked AI modeler xAI has an agreement for the private sale of $865.3 million in unregistered equity securities, according to a filing with the United States Securities and Exchange Commission (SEC) made on Dec. 5. xAI filed the SEC’s Form D to allow it to engage in the private sale of securities without…
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The New Jersey General Assembly may consider a bill that would decide when a digital asset or “virtual currency’ is a security under state law. All virtual currencies issued and sold to institutional investors would be considered securities in the U.S. state of New Jersey under the bill introduced by Democratic Assemblymember Herb Conaway, Jr.…
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Bitcoin (BTC) miner Core Scientific has released a presentation outlining its plans to emerge from bankruptcy in early January 2024. The presentation is based on the third amended joint Chapter 11 plan filed on Nov. 16 and includes an audio commentary by CEO Adam Sullivan. Common shareholders and holders of two series of convertible notes…
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Charlie Shrem paid a steep price for his place in crypto history. Major figures in the crypto world were part of his story, and his personal life was transformed as he went from online retailer to CEO of Bitcoin (BTC) exchange BitInstant and convicted felon before he was even 30. Today he is an investor…
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