The Official a2k Bitcoin Schadenfreude Club

Reply Wed 23 Nov, 2022 11:53 am
Hochul signs partial cryptocurrency mining ban into New York law
ALBANY, N.Y. — New York will instate a two-year moratorium on new fossil fuel-powered cryptocurrency mining operations as the state works to balance its economic development and climate goals.

Gov. Kathy Hochul on Tuesday signed the controversial measure into law that would create the first-in-the-nation temporary pause on new permits for fossil fuel power plants that house proof-of-work cryptocurrency mining, which is a process used in the transaction of digital money. Hochul, who had punted on the issue for months after the Legislature passed the bill in June, was elected to a full term Nov. 8.

Upstate New York has become attractive to companies that “mine” digital currencies, including Bitcoin, because of the availability of former power plants and manufacturing sites with unused electrical infrastructure. But Hochul said that the moratorium is an important step to avoid increased emissions from the industry restarting old power plants as she guides the state toward ambitious climate goals.

Wringing its hands over FTX's collapse, Washington hopes to prevent more crypto pain
New uses for old laws
Thousands of FTX's customers are desperately trying to recover money that may be gone for good and the whole world is anxious to contain any damage from the multi-tentacled crypto exchange's bankruptcy.

As lawmakers debate how to respond, regulators and law enforcement agencies have started investigations into the company, once valued at tens of billions of dollars.

The new CEO of FTX has fielded "numerous inquiries" from the Commodity Futures Trading Commission (CFTC), the Securities and Exchange Commission (SEC), and federal prosecutors, according to a court filing.

But when it comes to digital assets, including cryptocurrencies, bureaucrats are locked in a turf war over who is responsible for overseeing what.

The CFTC, top cop for the multi-trillion-dollar derivatives market, argues it should regulate bitcoin.

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bobsal u1553115
Reply Wed 23 Nov, 2022 06:18 pm
For me it was sour grapes. Till now. I can almost say, "See? Tol' ya so!".

For me it was sour grapes, but sometimes there's a benefit to not having money at the time.
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