Bitcoin News and Finance: What You Need to Know

The government of India has provided some updates on its cryptocurrency bill and investigations of crypto exchanges in Lok Sabha, the lower house of India’s parliament. “Crypto assets are by definition borderless and require international collaboration to prevent regulatory arbitrage,” said the minister of state in the Ministry of Finance. Indian Government Answers Questions About Crypto Bill and Regulation The Indian government answered two sets of questions about cryptocurrency and its regulation Monday by various members of Lok Sabha, the lower house of India’s parliament. Parliament member Bhartruhari Mahtab asked the minister of finance to state “the current status of the cryptocurrency bill, which was due for being tabled during the winter session, 2021, of the Parliament” and “the timeframe within which the cryptocurrency bill would be tabled and subsequently be open for public inputs.” Pankaj Chaudhary, minister of state in the Ministry of Finance, replied without providin...

Tesla CEO and Twitter chief Elon Musk has promised to step down as head of Twitter. As the billionaire seeks a new CEO to run the social media platform, privacy advocate Edward Snowden threw his name in the hat, stating that he takes payment in bitcoin. “The question is not finding a CEO, the question is finding a CEO who can keep Twitter alive,” Musk clarified. Elon Musk Discusses Finding New Twitter CEO Elon Musk set up a poll on Twitter over the weekend asking his 122.3 million followers whether he should step down as head of the social media platform. The billionaire added that he will abide by the results of the poll, which ended with 57.5% of over 17.5 million respondents wanting him to step down. Responding to a comment about him having a new CEO picked out already and that he will retire to being chairman of the Twitter board, Musk clarified: “No one wants the job who can actually keep Twitter alive. There is no successor.” In another tweet, the Tesla chief explained: Th...

On Dec. 17, reports detail that residents in Lebanon have been staging sit-ins and protests at banks in order to access their own savings accounts. Since the economic collapse in 2019, Lebanon’s banks froze Lebanese bank accounts, and a number of branches have remained closed indefinitely. The deprivation of wealth has caused a few impoverished Lebanese to demand their savings at gunpoint but so far, even these tactics have left most residents walking away or arrested penniless. Lebanon’s Banks Deal With Protests and Gunpoint Demands From People Who Want Their Savings Back In August 2019, it became apparent to the world that Lebanon was suffering from a liquidity crisis, and there have been many reports that say financial coverups and U.S. sanctions put Lebanon’s economy in a vice grip. It has been reported that by late 2018, a handful of Lebanese commercial banks froze people’s accounts and by the first week of March 2020, Lebanon said it would default on its Eurobond debt. Th...

Zhejiang, a coastal province of China, has presented a metaverse development plan that seeks to build a metaverse hub in its territory. The plan aims to entice the creation of a $28.7 billion metaverse industry and construct an ecosystem of several companies integrating this tech as part of its operations by 2025. Zhejiang Presents Metaverse Development Plan Zhenjiang, a Chinese province, presented its metaverse development plan on Dec. 15, aiming to become one of the biggest metaverse hubs in the country. The plan, which contemplates the integration of several active companies into the metaverse, aims to produce a $28.7 billion metaverse industry by 2025. In the document, the province outlines the actions that it will need to reach its goal, starting in 2023. One of these includes the incubation of 10 industry leaders and 50 companies involved in several of the key technologies related to the metaverse, like AI (artificial intelligence), VR (virtual reality), and even blockchain....

Aztec, a Web3 privacy layer, has raised $100 million in a Series B funding round led by the Andreessen Horowitz subsidiary a16z crypto. The organization, which already offers privacy-based services for a slew of Ethereum-based apps, will now focus on constructing an encrypted version of Ethereum, allowing individuals and organizations to transact privately. Aztec Raises $100 Million to Create Interoperable and Encrypted Blockchains Web3 privacy-focused layer Aztec raised $100 million on Dec. 15 as part of its Series B funding round. The resources raised during this round, which was led by a16z crypto with the participation of A Capital, King River, Variant, SV Angel, Hash Key, Fenbushi, and AVG, will be used on building a high-level encrypted version of Ethereum. For Aztec, while today’s focus on interoperable public chains has its virtues, there is also the need for private and confidential transactions that preserve the identity and the data of the ones involved. Joe Andrews, on...