The Joseph Biden administration has proposed to the Senate that a former crypto industry consultant be approved for the position of vice chairman of the US Federal Reserve. Michael Barr was nominated by the President of the United States on April 15. Now the US Senate, which rejected Biden’s previous choice, Sarah Bloom Raskin, must vote to nominate a new Federal Reserve Vice Chair. The White House presented Michael Barr as someone who “dedicated his

Member of the Irish House of Representatives Darra O’Brien proposed to ban political parties from accepting donations in cryptocurrencies due to fears of interference in election campaigns. Darragh O’Brien has sent a letter to Ireland’s political party leaders asking them to amend the Electoral Reform Bill 2022, according to local media reports. He stated the need to review political funding, in particular financial support for parties or individuals, and prohibit them from accepting digital assets.

The Canadian Central Bank (CB) has deployed a quantum computer to calculate the implications of cryptocurrencies and their compatibility with the traditional financial system. The Sun became the first regulator of the G7 countries to decide to use quantum computing to model scenarios for the coexistence of digital and fiat currencies. The project is being developed by the startup Multiverse Computing, according to Decrypt. The quantum computer model used is capable of evaluating more than

A member of the California House of Representatives proposed using blockchain technology to prevent employment fraud. Jordan Cunningham has introduced a bill that would require the California Office of Digital Innovation (ODI) to explore the possibility of applying blockchain to employment, employment, and social security. According to the parliamentarian, this would speed up identity verification in the state unemployment insurance system, increase the efficiency of social benefits payments and their calculations, and also simplify the

Three Chinese government associations have come forward with a proposal to tighten regulation of non-fungible tokens to prevent the risks of illegal financial activities. The National Internet Finance Association of China (NIFA), the China Banking Association (CBA), and the China Securities Association (SAC) have launched a joint initiative to tighten controls on NFTs. They noted that in recent years, the Chinese NFT market has begun to develop very rapidly. On the one hand, collectible tokens

Former Ethereum developer Virgil Griffith has been sentenced to 63 months in prison and fined $100,000 for holding a training presentation in North Korea. In 2019, Virgil Griffith attended a conference in North Korea where he gave a presentation on cryptocurrencies and blockchain. Upon his return to the US, Griffith was arrested and taken into custody. He was charged with violating the Emergency Economic Action Act (IEEPA) and could receive 20 years in prison. Virgil

According to a study by cryptocurrency exchange KuCoin, 35% of Nigerians between the ages of 18 and 60 have traded or owned cryptocurrencies in the last six months. Analysts of the company in their report Into the Cryptoverse Report note that a total of 33.4 million Nigerians dealt with digital assets. At the same time, more than half of them (52% or 17.36 million) invested more than half of their savings in crypto assets. Cryptocurrencies

The Bataan Freeport Area Authority (FAB) plans to make the province an offshore financial center for the development of the latest technologies, including blockchain. Through the passage of Republican Law No. 11659, FAB will be able to register and issue licenses to commercial organizations working in the field of artificial intelligence (AI), cybersecurity, virtual reality, Internet of Things (IoT), and smart city construction. The agency will also oversee the activities of companies related to blockchain

The Binance trading platform continues its expansion into the Middle East. The company has obtained permission to operate in the capital region of the United Arab Emirates. Binance, the world’s largest cryptocurrency exchange in terms of trading volume, has received a license to operate in Abu Dhabi. This is the third such document for Binance from regulators in the Middle East, after Bahrain and Dubai. The Abu Dhabi Global Market (ADGM) approval will allow Binance

One of the largest investment companies in the Middle East has announced the opening of a fund to support blockchain companies. Bahrain’s second largest investment company, Investcorp Holdings, has launched its first global institutional fund, eLydian Lion. The company is going to distribute the fund’s funds among blockchain startups. Now the company is trying to attract investors to raise funds. The fund will exist as an independent legal entity. Investcorp said that the new fund