The International Monetary Fund (IMF) has released a new report highlighting the rising carbon footprint of the crypto sector and stressing the need for control. To address this, the IMF has proposed a significant tax increase on crypto mining businesses to encourage the adoption of greener practices. According to the…
The Bharat Web3 Association (BWA) met with industry stakeholders in New Delhi on July 11, ahead of the upcoming budget announcement for FY2024-2025. During the meeting, Dilip Chenoy, the chairperson of this Web3 advisory body, said that the industry is ready to be patient and give the government enough time…
Louisiana has become the latest US state to support cryptocurrency mining, as more regions in the country are warming up to digital assets. A newly signed bill is expected to protect the rights of crypto mining individuals and businesses, who can continue to operate in the state as long as…
The crypto mining industry often finds itself under the scanner for being power-intensive and releasing greenhouse gasses into the environment. In a recent development, the South American nation of Venezuela has announced a ban on crypto mining. The massive load of electricity that is used for the mining several cryptocurrencies…
A charge-sheet has been filed under the anti-money laundering law against 299 entities, including 10 persons of Chinese origin, in an investigation linked to alleged duping of investors in the name of mining cryptocurrencies such as Bitcoins, the Enforcement Directorate said on Wednesday. A special court in Dimapur in Nagaland…
Bhutan’s investment arm and Nasdaq-listed company Bitdeer Technologies Group plan to seek investors for a fund worth up to $500 million (roughly Rs. 4,100 crore) that will be used to develop green crypto mining in the Himalayan kingdom. Fund raising targeting institutional investors will begin at the end of May…
The US, in recent years, has emerged as a hotspot for crypto miners to establish their operations, especially after China imposed a blanket ban on all crypto-related activities in 2021. Given the environmental concerns and the power intensive nature of crypto mining, the US is mulling on imposing a punitive…
The US government is considering several ways to balance its destabilised economy by reeling-in more funds into its financial systems. The crypto mining community in the US could face the burn of these tax hikes as the US government has proposed to raise the taxes on the electricity requirement for…
Grayscale, the US-based crypto asset management firm, has decided to take advantage of the low prices surrounding the crypto mining industry. In recent months, the overall crypto sector valuation has dropped under the trillion-dollar mark in the backdrop of the US’ interest rate hikes leading to market pressure amid other…
Binance crypto exchange has signed an agreement with the government of Kazakhstan intending at fostering the crypto and Web3 culture. Kazakhstan’s Financial Monitoring Agency is looking to have Binance provide insights on framing laws around the crypto sector. Both the entities plan to target illicit activities around the virtual digital…
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