News overview: cryptocurrencies and blockchain [3.06.2022] | posts

Kryptowaluty & blockchain, news from June 3, 2022


5 p.m.

The New York Senate Passed a Restriction on Bitcoin Mining

A law passed by the New York State Assembly imposes a two-year moratorium on all new projects in the cryptocurrency mining market based on the Proof-of-Work (PoW) algorithm. The mining industry believes the new rules are effectively an “unconditional ban” on large-scale bitcoin mining in the state. -> learn more

BTC miners’ daily earnings are at their lowest in 11 months

Daily Bitcoin mining revenue fell by more than 1/4 in May. Additionally, mining profitability also declined, which was the weakest this month since October 2020. -> learn more

daily mining income
Daily BTC mining revenue

Cryptocurrency dating scams are booming in the US

Cryptocurrency scams in dating apps resulted in losses estimated at $429 million last year, according to the FBI. The so called “pig slaughter”, “pig slaughter” or “slaughter” is about building a close and virtual relationship with a future victim who ends up being commissioned by a fictitious investment platform or by extortion. -> learn more

Japan passes legislation to regulate stablecoins

The Japanese parliament has introduced a legal framework for stablecoins, which will need to be backed by the yen or other traditional currencies and guarantee investors to exchange at the appropriate rate. These regulations follow recent developments around TerraUSD. -> learn more

El Salvador continues to postpone issuing bitcoin bonds

According to the Salvadoran Minister of Finance, there are still no favorable conditions for the issuance of the long-awaited bitcoin bonds. Initially, the sale of securities worth $1 billion was to begin in mid-March. Currently, no one even gives an approximate date of their release. -> source: The Block

US Department of Labor sued over cryptocurrency activities in pension plans

The United States Department of Labor (DOL) has opened an investigation into cryptocurrency pension companies. One of them did not like this, who sued the institution, arguing that its actions were arbitrary, capricious and illegal. -> learn more

Kenyan energy company invites BTC miners

Kenya’s largest power producer, KenGen, is inviting cryptocurrency miners to a new industrial park in Olcaria. BTC mining companies could use surplus renewable energy generated by a nearby geothermal power plant. -> source: Cointelegraph

The White House is studying the energy consumption of cryptocurrencies

The White House task force analyzes energy consumption and emissions related to cryptocurrency mining. His report is due out in August with the aim of providing appropriate policy recommendations to the Biden administration. -> learn more

Johnn Depp’s NFT collection price rises after winning lawsuit

Johnn Depp’s NFT collection started gaining popularity after he won a lawsuit against Amber Heard. The series called “Never Fear Truth” on OpenSea is a collection of 3,850 generative graphics based on the actor’s drawings. -> source: decrypt

I only have cryptocurrencies and no FIAT currencies, says CZ

In a recent interview on CNBC, Binance founder Changpeng “CZ” Zhao said he doesn’t own any traditional currencies and pays for everything with cryptocurrencies. The Chinese-born billionaire is considered the richest person in the cryptocurrency industry. -> source: CryptoPotato

news review of 3.06.2022

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