The European Parliament has voted against a proposed ban on proof-of-work cryptocurrencies, which would have blocked member states from mining bitcoin.The Markets in Crypto Assets (MiCA) framework proposed that bitcoin and other energy-intensive cryptocurrencies would need to “set up and maintain a phased rollout plan to ensure compliance with such requirements”.In centred on the proof-of-work…
European Union parliamentarians will vote on whether to ban bitcoin mining on Monday amid concerns about its environmental impact.The draft framework could outlaw cryptocurrencies that rely on an energy-intensive process known as proof-of-work, whereby computers perform complex mathematical puzzles in order to generate new units of the digital asset.Bitcoin is among several leading cryptocurrencies that…
The cryptocurrency market has crashed spectacularly – after a brief positive bounce.Over Wednesday, most large coins saw considerable gains after the White House revealed its plans for the regulation of cryptocurrency. The plans – which were published early, seemingly by accident – were largely received positively by those who back digital currencies.But early on Thursday, cryptocurrencies…
US President Joe Biden has issued an executive order to ensure “responsible development” of cryptocurrencies like bitcoin, marking the first time the world’s largest economy has made a move to regulate cryptocurrency.The order acknowledges the popularity of cryptocurrencies – the overall crypto market is currently worth more than $1.8 trillion – as well as their…
The price of bitcoin has shot up more than 10 per cent overnight after a draft executive order from US President Joe Biden was inadvertently published.The cryptocurrency reached above $42,000 on Wednesday morning when a statement from Treasury Secretary Janet Yellen about the order appeared online. It has since been removed, but a cached copy…
Crypto analysts say bitcoin could serve as a safe-haven asset during times of geo-political uncertainty (Getty Images/iStockphoto)The price of bitcoin has dropped below $40,000 at the start of the week, having climbed above $44,000 at the beginning of March.Russia’s invasion of Ukraine initially sparked a mass sell-off, causing BTC to plummet from $39,000 to below…
Crypto analysts say bitcoin could serve as a safe-haven asset during times of geo-political uncertainty (Getty Images/iStockphoto)The price of bitcoin surged to a two week high above $44,000 this week, climbing more than $10,000 over the last seven days.Russia’s invasion of Ukraine initially sparked a mass sell-off, causing BTC to plummet from $39,000 to below…
In the first five days following Russia’s invasion of Ukraine, the price of bitcoin shot up by 20 per cent. In that same time, the ruble collapsed against the dollar by almost the exact same amount.The dramatic swings saw the cryptocurrency overtake the ruble, leading many Russians to turn to crypto exchanges in an attempt…
Ukraine’s vice prime minister has requested dogecoin donations as part of fundraising efforts following Russia’s invasion of the eastern European country. Mykhailo Fedorov, who also serves as Ukraine’s Minister of Digital Transformation, said the funds will “contribute to the Ukrainian victory as well as support civil people”.Follow our live coverage of the crypto marketThe country…
Ukraine has announced a cryptocurrency “airdrop” on 3 March as part of its fundraising efforts towards its defence against Russian invasion.Crypto airdrops are typically used to send free tokens of a digital currency to people in order to encourage broader adoption, though it is not yet clear what form Ukraine’s airdrop will take.“Airdrop confirmed,” the…