The world of cryptocurrency has taken a hit. “Crypto winter” is a term we will have to get used to and despite some minor improvement of the value of the market over the past days, we are in a bearish market and that is evident.
Starting this week’s Ledger, we will briefly mention that cryptocurrency crime is still very much an issue with Australians losing $113m to it over the first months of the year.
But despite the crypto coldsnap and proliferation of crime, Bermuda is pushing ahead to become a hub for cryptocurrencies, nevertheless.
The plan has been long in the making and Bermuda is unlikely to be cowered by the most recent events.
Meanwhile, the highly-publicized Johnny Depp lawsuit launched by his former wife, Amber Heard, and the favorable ruling for Depp, prompted the arrival of 4,000 NFTs featuring the embattled actor.
A mayor in Australia wants to see more people start paying local tax in cryptocurrencies, but his ambitions may be cut short because of sobering reality. Banks in Australia are reluctant to enable retail customers to access cryptocurrencies at the time, citing fears of regulation and volatility as the reason why.
A retirement trust is now picking a bone with Gemini, a cryptocurrency exchange, for a $36m hack that hurt the trust’s savings. IRA Financial Trust argues that Gemini had made it possible for the trust to lose $21m in Bitcoin and $15m in Ethereum.
Meanwhile, the debate whether fossil-fuel energy sources should be allowed in crypto mining continue to split politicians. Right now, the mayor is undecided whether she should back the move with a new bill or veto it.
Cryptocurrency companies have stopped hiring, and one of them is Coinbase. But the exchange is hoping it can win people over and remain on professionals’ wish list by creating something called a “talent hub”. The initiative has prompted people to ask WTF is going on with Coinbase?
The US is doubly determined to lead the offensive against global crypto crime. Both the Department of Justice and the president seem to be determined that such a move is necessary and they are now calling on global allies to join the crusade against illegal organizations using cryptocurrencies to conduct crimes.
A new crypto law has bene pitched by two US senators who are hoping to see it through. The plan will cover the entirety of crypto assets and will make any transactions below $200 non-taxable. The Commodity Futures Trading Commission will be granted new powers to exercise oversight and so will a new regulatory body.
This was the week in crypto. If you want to spend your weekend gaming, we recommend going to 1xBit, FortuneJack or Bitcasino.io!
