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Showing 1-10 of 86

satoshin • Aug 9, 2024, 3:21 pm EDT

The War on Crypto is Alive and Well, Unfortunately

The Fed’s Power Grab: Operation ChokePoint 2.0 Still in Full Swing Yesterday, August 8th, a 13-page enforcement action was issued against Customers Bank, one of the few remaining crypto-friendly banking institutions in the United States. The move has raised significant concerns about the future of financial services available to the bitcoin and cryptocurrency industry. The enforcement action is characterized by vague language and complex requirements that obscure its true impact. A close reading of the document reveals a concerning development: the Federal Reserve now requires Customers Bank to provide 30 days’ advance notice before establishing any new banking relationship with

2 minutes

arusso • Aug 7, 2024, 1:54 pm EDT

RFK’s Bitcoin Journey

Robert F. Kennedy Jr. has emerged as an unexpected but powerful Bitcoin advocate, positioning himself as one of the most knowledgeable and passionate political figures championing the asset. His first public endorsement of Bitcoin was last year at the Miami Bitcoin Conference in 2023 and the depths of his understanding have clearly evolved based on his policy proposals at this year’s conference in Nashville. RFK Jr. has proven that he is not just another politician with surface-level understanding—he’s done his homework, and he’s ready to reshape the financial future of America. Miami 2023 When RFK Jr. first spoke about Bitcoin

4 minutes

johnd • Aug 2, 2024, 10:50 am EDT

Pro American Policy is Now Pro Bitcoin Policy

The Bitcoin 2024 Conference in Nashville has benchmarked a new chapter in American Policy. The Bitcoin 2024 conference in Nashville marked a historic moment in the intersection of cryptocurrency and American politics. With the theme “Bitcoin is now American Policy,” the event drew unprecedented attention, including speeches from two presidential candidates—Donald Trump and Robert F. Kennedy Jr. The presence of a former U.S. president and the national spotlight on the event signaled that Bitcoin has firmly entered the mainstream political discourse. Trump’s Historic Appearance Former President Donald Trump’s keynote speech was the highlight of the conference. As the first former

5 minutes

satoshin • Jul 9, 2024, 10:09 am EDT

RNC Embraces Pro-Bitcoin Stance in 2024 Party Platform

In a significant move, the Republican National Committee (RNC) has endorsed a pro-crypto, pro-Bitcoin stance in its draft of the 2024 party platform. Titled “America First: A Return to Common Sense,” the document was approved by an RNC panel and is set to face a final vote on Tuesday. The draft includes a dedicated section on digital assets and Bitcoin, emphasizing the party’s support for the growing digital asset sector. Chapter three of the platform, “Build the Greatest Economy in History,” outlines the RNC’s commitment to defending the right to mine bitcoin and ensuring every American can self-custody their digital

3 minutes

johnd • Jul 1, 2024, 12:29 pm EDT

Mt. Gox Set to Return Billions in Bitcoin to Victims: A Decade-Long Wait Finally Ends

In the cryptocurrency world, few stories are as infamous as the rise and fall of Mt. Gox, the Tokyo-based bitcoin exchange that once dominated the market. Now, after a decade-long legal and financial odyssey, Mt. Gox is set to repay its users nearly $9 billion worth of tokens. This momentous event, scheduled to begin in early July, marks a significant milestone for the thousands of creditors who have waited years for restitution. Mt. Gox’s downfall began in early 2014, when a series of devastating hacks led to the loss of up to 950,000 bitcoins, valued at over $59 billion today.

3 minutes

arusso • Jun 27, 2024, 12:48 pm EDT

Louisiana Passes Landmark Bill to Protect Bitcoin Rights and Ban CBDCs

In a groundbreaking move, Louisiana has become the fourth state to pass a law defending Bitcoin rights, joining the ranks of Oklahoma, Montana, and Arkansas. The Satoshi Action Fund successfully championed House Bill 488, which Governor Jeff Landry signed into law following bipartisan approval from both the House and Senate. This landmark legislation, led by Representative Mark Wright and supported by Senator Jean-Paul Coussan, is designed to ensure continued access to Bitcoin while placing restrictions on Central Bank Digital Currencies (CBDCs). Key Features of HB 488 The new law enshrines several critical protections for Bitcoin holders and miners, signaling Louisiana’s

4 minutes

carlp • Jun 22, 2024, 12:36 am EDT

Winklevoss Twins Donate Over $2 Million in Bitcoin to Trump: A Stand Against the Biden Administration’s Crypto Policies

In a significant show of support for former President Donald Trump, Cameron and Tyler Winklevoss have donated 30.94 Bitcoin, valued at over $2 million, to his campaign. The Winklevoss twins, renowned for their early investment in Bitcoin and the founding of the Gemini cryptocurrency exchange, made the announcement on X, expressing their discontent with the Biden Administration’s aggressive and hostile approach to bitcoin and cryptocurrency regulation. A Unified Front for Crypto Advocacy The Winklevoss twins are not alone in their support for Trump. Their donation is part of a broader trend among prominent figures in the cryptocurrency community, including Bitcoin

3 minutes

johnd • Jun 4, 2024, 3:12 pm EDT

Australia Launches Its First Spot Bitcoin ETF

Australia is set to launch its first spot Bitcoin exchange-traded fund (ETF). Monochrome Asset Management is heading the project, offering the ETF as a regulated investment vehicle designed to provide investors direct exposure to Bitcoin. Bitcoin ETFs are a growing trend globally with other recent approvals in the EU and Hong Kong. Details of the New Bitcoin ETF The ETF, set to begin trading tomorrow, will be listed on Cboe, making it the first Australian exchange to host a Bitcoin ETF. Cboe is getting out ahead of the larger Australian Securities Exchange (ASX), which is also expected to approve its

2 minutes

carlp • Jun 3, 2024, 1:32 pm EDT

Biden Blocks Crypto Accounting Reform Despite Bipartisan Support

President Biden Vetoes Bill to Overturn SEC Crypto Accounting Standards In a significant move that underscores the ongoing regulatory tensions surrounding the cryptocurrency industry, U.S. President Joe Biden has vetoed H.J.Res. 109, a congressional resolution aimed at overturning the Securities and Exchange Commission’s (SEC) Staff Accounting Bulletin 121 (SAB 121). This bulletin provides guidance on how banks should account for customers’ crypto assets, requiring these assets to be treated as liabilities. Details of the Veto President Biden justified his decision by emphasizing the need for appropriate consumer and investor “protections.” “Appropriate guardrails that protect consumers and investors are necessary to

3 minutes

carlp • May 24, 2024, 1:42 pm EDT

The Financial Innovation and Technology for the 21st Century Act

In a significant development for the cryptocurrency industry, the U.S. House of Representatives passed the Financial Innovation and Technology for the 21st Century Act (FIT21) on Wednesday. This landmark legislation aims to provide much-needed regulatory clarity for crypto businesses, a step the industry has long been advocating for. The bill passed with bipartisan support, 279-136, including 71 Democrats voting in favor. A Shift Towards Regulatory Certainty The FIT21 Act addresses a major concern for the cryptocurrency industry: the lack of clear regulatory guidelines. For years, crypto companies have struggled to navigate the murky waters of U.S. regulations, often facing the

3 minutes