Coinbase expands internationally
The largest cryptocurrency exchange in the US just introduced The Coinbase International Exchange, which will provide access to digital assets for institutional clients. After receiving regulatory clearance from the Bermuda Monetary Authority (BMA), the new firm will begin offering perpetual futures for Bitcoin and Ethereum.
Perpetual futures do not have an expiration date, allowing traders to hold their holdings indefinitely. This is in contrast to conventional futures, which have and require that buyers and sellers execute the contract on that day regardless of the state of the market.
Bitcoin miners earned $50 billion in block rewards
Based on estimations by on-chain analytics startup Glassnode, miners have received approximately $50 billion in fees and block reward subsidies since 2010.
New data indicates that miners are likely to be profitable over the long run, despite ongoing discussion surrounding miner expenses and their vulnerability to a fall in the price of bitcoin.
According to Glassnode, the total lifetime earnings of miners will be $50.2 billion, which is around 40% greater than their expected costs of $36.6 billion.
France to approve social media promotion of Cryptocurrencies
The French Senate’s Economic Affairs Committee has approved an amendment to pending legislation that permits licensed cryptocurrency firms to use social media influencers for marketing and promotional purposes.
A translation of the legislation indicates that it would let companies that are accredited by France’s Financial Markets Authority (AMF) use influencers for their products.
Governor of Montana signs a bill that supports Bitcoin mining
Greg Gianforte, the governor of Montana, has signed a bill that essentially prohibits local governments in the state from passing laws that outlaw cryptocurrency mining.
According to the Montana legislature’s records, Gianforte approved S.B. 178 on May 2 after it passed both the state House and Senate. The plan enshrines the rights of cryptocurrency miners in the state by changing existing legislation, prohibiting disparate electrical rates for mining operations, and restricting taxes on cryptocurrencies used as a means of payment.
Kenya suggests taxing the transfer of cryptocurrencies
A recently made suggestion calls for Kenya’s parliament to levy a 15% tax on commercially exploited online content and a 3% tax on transfers of cryptocurrencies and nonfungible tokens.
Kenyan Finance Bill 2023, which was presented to the nation’s government on May 4, would implement a tax on “income derived from the transfer or exchange of digital assets,” and it also contains particular provisions for NFTs.
The New York Attorney General has announced a plan to enforce strict cryptocurrency regulations
Letitia James, the attorney general of additional York, has announced additional controls on the cryptocurrency industry to protect investors, consumers, and the economy.
The law aims to improve investor protection and boost transparency by removing conflicts of interest. These laws would follow the same rules as those that govern other financial services.
PEPE hits $1 billion market cap
The largest exchange in the world decided to accept Pepe Coin, the newest trendy meme coin because interest in it has skyrocketed. Binance has revealed that Pepe (PEPE) will be featured in the Innovation Zone in an article.
According to the announcement, Binance will initially provide two spot trading pairs: PEPE/USDT and PEPE/TUSD. Even though it has been claimed that the famous meme coin’s listing fee is 0 BNB.
Although Pepe has no mechanism to sustain its utility or value, Binance warned its users that trading in meme-coins is extremely risky.
Binance is charged with breaching Russian sanctions
The largest cryptocurrency exchange in the world, Binance, is being investigated by the U.S. Justice Department for possible violations of Russian sanctions. The authorities are looking into whether Binance Holding was inappropriately misused by Russia to get over American financial sanctions.
Sources claim that the Justice Department’s national security division has launched an inquiry to see whether Binance or any of its many employees have been able to dodge sanctions connected to the Russian invasion of Ukraine. Bloomberg sources verified that this probe, which has not yet been made public, is going on in addition to the one the criminal division has already begun.
SEC announces a $279 million reward for whistleblowers
The U.S. Securities and Exchange Commission (SEC) recently made history by awarding the largest-ever whistleblower pay, totaling an astounding amount of over $279 million. This extraordinary feat surpasses the SEC’s previous record-breaking $114 million whistleblower reward from October 2020.
Gurbir S. Grewal, the director of the SEC’s Division of Enforcement, expressed his joy at the size of the prize. He emphasized that such a big sum creates enormous incentives for whistleblowers to come forward with correct information regarding potential violations of securities law, in addition to highlighting the remarkable success of the SEC’s whistleblower program.
