Senator believes the tax could push industry out of the country and into the arms of other countries.She also noted that the Treasury’s reasons for introducing the tax are based on outdated views about energy use and technology.Lummis cited the Bitcoin Energy Sustainability and Emissions Tracker as evidence that Bitcoin mining is cleaner than commonly thought, noting that up to 52.6%of BTC mining could be emissions-free.The politician also drew attention to the growing role of Bitcoin mining facilities in ensuring the security of the energy system.Mining operations present large, dynamic electrical loads that can be used to balance and redistribute energy across electrical networks as needed.Lummis also called the proposal a poorly conceived policy that could harm the very goals it is intended to achieve.Thus, the Administration claims that Bitcoin mining threatens the operation of local energy systems but does not provide any evidence.However, research shows that Bitcoin mining strengthens energy networks.
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FTX founder Sam Bankman-Fried was charged with directing $40 million in bribes to one or more Chinese officials to unfreeze assets relating to his cryptocurrency business in a newly rewritten indictment unsealed Tuesday. The charge of conspiracy to violate the anti-bribery provisions of the Foreign Corrupt Practices Act raises to 13 the number of charges Bankman-Fried faces after he was arrested in the Bahamas in December and brought to the United States soon afterward. The indictment was returned on Monday.
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The Financial Supervisory Service of South Korea (FSS) has developed a 24/7 monitoring system for local crypto exchanges that will track suspicious activity in the digital asset market. According to the agency, the FSS, the system should track large transactions and transactions whose execution is delayed for a long time. This year, the FSS has already introduced a standardized reporting format for local crypto exchanges, which must report suspicious transactions to the agency. To identify abnormal transactions, the FSS used the criteria of the Korean Exchange (KRX), preparing special models and metric indicators that should filter out any unusual transactions. Large exchanges, which account for 99.9% of cryptocurrency transactions in South Korea, have already created a monitoring system based on their own criteria, the agency clarifies. The regulator recommended that exchanges form a special team to monitor transactions.
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