The unsustainable financial system in Lebanon has brought some Lebanese to crypto. Locals are mining Bitcoin or storing wealth with cryptocurrency and completing some payments with Tether. Dire Economic Situation in Lebanon In 2019, Lebanon fell into a financial crisis after years of expensive wars and poor spending decisions. A CNBC ground report outlined the…
The Securities and Exchange Commission (SEC) bought charges against five members of a crypto Ponzi scheme – Trade Coin Club that defrauded over 100,000 investors worldwide of 82,000BTC, valued at $295 million at the time, according to a Nov. 4 SEC press release. The Trade Coin Club is a crypto pyramid scheme posed as a…
Costa Rican Congresswoman Johana Obando proposed a bill titled “Cryptoassets Market Law (MECA),” to regulate and recognize cryptocurrency in the Central American country. The bill was proposed alongside Congressmen Luis Diego Vargas and Jorge Dengo, who also mentioned the government should not tax cryptocurrency profits generated from mining, but that profits from crypto trading should…
Twitter user @ODELL called out newly appointed U.K. Prime Minister (PM) Rishi Sunak as “no friend of Bitcoin,” adding that reports of his pro-crypto rhetoric are “misleading.” The basis for @ODELL’s comments came from a video of Sunak talking about Central Bank Digital Currencies (CBDCs,) which are generally viewed by the community as philosophically opposed…
Former U.K. Chancellor, the crypto-friendly Rishi Sunak, has been appointed Prime Minister following a short leadership campaign. Under the leadership campaign rules, each prospective candidate must obtain at least 100 nominations from Members of Parliament (MP) to advance to the next phase – a nationwide ballot of party members. However, Sunak’s remaining rival, Penny Mordaunt,…
Macau Macau’s Executive Council (CE) has submitted a draft of an umbrella regulatory framework that concerns the legal standardization of all currencies in the region, including digital currencies, to the Legislative Council for deliberation, according to a news release by the CE on Oct. 14. If approved, the draft bill — titled “Legal regime for…
Former U.K. Independence Party (UKIP) Leader Nigel Farage likened his experience as a political outcast to what is happening with the Bitcoin movement. Known as a Euro-skeptic, the ex-Member of the European Parliament (MEP), who served until the U.K.’s exit from the EU, has voiced numerous “anti-establishment” opinions in the past, including condemning the wars…
Leading blockchain network Tron has inked an agreement with the government of Dominica to make Tron-native tokens authorized digital currency in the Caribbean Island. Tron founder Justin Sun shared the milestone on Oct. 12, stating that Tron tokens, including TRX, BTT, JST, NFT, USDD, USDT, and TUSD, are accepted as a medium of exchange in…
Japan’s Prime Minister Fumio Kishida announced plans to expand investments into the metaverse and NFTs during a public policy speech delivered before Japan’s National Diet on Oct. 3. Kishida said that the government will continue its focus on supporting the use of digital technology in society and promote initiatives to expand the implementation of Web3…
Matt Hancock, former Secretary of State for Digital, culture, music, and sport, said the U.K. must take a long-term approach and lower crypto taxes to allow digital innovation to grow. “HMRC has taken a revenue-maximizing approach…applying it in a sledgehammer way… what we need to do is take a growth-maximizing view where revenues in the…