Bitcoin News and Finance: What You Need to Know

International Monetary Fund (IMF) Managing Director Kristalina Georgieva says India is “a country that is on the frontline of digital currencies,” especially “how it handles a reduction of risk from crypto assets for the Indian people and businesses.” She met with Indian Finance Minister Nirmala Sitharaman to discuss crypto regulation. IMF’s Chief Comments on Indian Crypto Policy IMF Managing Director Kristalina Georgieva commended the Indian government’s approach to cryptocurrency at an IMF press conference Wednesday. Responding to a question about “what role India can play in improving the global economic situation so as to safeguard the interests of the most vulnerable,” the IMF chief said, “India already plays a very important international role.” She elaborated: And it is a country that is on the frontline of digital currencies, especially central bank digital currency and how it handles a reduction of risk from crypto assets for the Indian people and businesses. The IMF b...

Twenty-three U.S. lawmakers have called on the U.S. Environmental Protection Agency (EPA) to increase oversight of cryptocurrency’s environmental impacts. “We request that the EPA evaluate ‘Proof-of-Work’ mining facilities’ compliance with environmental statutes,” they said. Lawmakers Want More Oversight of Bitcoin Mining Industry U.S. Representative Jared Huffman (D-CA) and 22 other Congress members jointly sent a letter to Environmental Protection Agency (EPA) Administrator Michael Regan regarding cryptocurrency mining operations Wednesday. The congressman from California is the chair of the United States House Natural Resources Subcommittee on Water, Oceans and Wildlife. He is also a member of the House Select Committee on the Climate Crisis. The letter calls for “increased oversight of cryptocurrency’s environmental impacts,” Rep. Huffman’s office announced Thursday. In their letter, the lawmakers described: We have serious concerns regarding reports that cryptocurrency faci...

Cryptocurrency exchange Binance has been accused in a media report of agreeing to provide user data to Russia’s financial watchdog. The trading platform has refuted the allegations. It also insists it’s complying with Western sanctions imposed over Moscow’s invasion of neighboring Ukraine. Binance Consented to Russian Request for Customer Info, Reuters Claims in ‘Special Report’ Binance, the world’s leading digital asset exchange, has agreed to hand over customer data to Russia’s financial intelligence agency, a report by Reuters suggests. The article refers to messages allegedly sent by Binance’s regional head Gleb Kostarev to a business associate revealing that the Russian officials asked for such information, including names and addresses, during a meeting last April. The Federal Financial Monitoring Service of the Russian Federation (Rosfinmonitoring) saw its request supposedly motivated by the need for help in the fight against crime. Quoting an anonymous source familiar with...

Forty-six European crypto businesses and organizations have asked finance ministers in 27 European countries to loosen some regulatory requirements for the crypto industry. For example, they asked for decentralized finance (defi) projects to be excluded from the requirements to register as legal entities. Crypto Industry’s Letter to EU Policymakers Forty-six European crypto businesses and organizations have sent a letter to 27 EU finance ministers regarding disclosure requirements for crypto transactions, Reuters reported this week, noting that it has seen the letter. In the letter, dated April 13, the businesses and organizations asked EU policymakers to ensure their regulations do not extend beyond the existing rules that are in line with the standards set by the Financial Action Task Force (FATF). They raised concerns about the rules requiring crypto firms to obtain information on parties involved in digital currency transfers. Specifically, they asked that the EU excludes dec...

Kadena, a proof-of-work-based cryptocurrency that also has the possibility of supporting smart contracts, has announced a new set of grants directed to incentivize the creation of Web3 experiences. This $100 million grant fund is part of the Kadena Eco initiative, whose objective is to offer builders a complete suite to deploy their solutions on top of the chain. Kadena Grants Seek to Attract People to Ecosystem Kadena, a top-100 cryptocurrency project that is based on proof-of-work (PoW) consensus but also offers the possibility of executing smart contracts, has revealed a new set of developer grants seeking to attract builders to its chain. The grant program, which will have $100 million available for interested teams, is part of the Kadena Eco program, which presents a set of other initiatives directed to help teams, companies, and startups to produce Web3 experiences. The Kadena Eco program includes several other aspects that are to be developed in the near future. Among them ...