Central Bank of Brazil Issues Guidelines for Its CBDC

The Central Bank Of Brazil, the highest monetary authority of the country, has released a note listing the general guidelines for the design of a hypothetical central bank digital currency (CBDC) for the country. While there are still no concrete steps taken in this direction, at least the document recognizes there have been discussions about this possibility in the institution. Central Bank of Brazil Issues General CBDC Guidelines The Central Bank of Brazil, the economic authority of the South American country, has released a document where it specifies the general…

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Sichuan Energy Officials Plan to Meet in June to Discuss Bitcoin Mining Implications

Ever since government officials in China started talking about cracking down on bitcoin mining and reiterating crypto guidelines from 2017, digital currency proponents and the media have been focused on this region. Just recently, a Chinese state-backed online publication revealed that the Sichuan Energy Regulatory Office plans to hold a meeting on June 2, 2021, to discuss the implications of bitcoin mining. Sichuan Energy Regulatory Office to Meet on June 2 to Discuss Crypto Mining In recent times, the Chinese government has been discussing the crypto economy to a greater…

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UK Police Raid Alleged Cannabis Farm, Finds Bitcoin Mining Facility Stealing Power

Police from the UK executed a raid in an industrial unit in the West Midlands county expecting to find a cannabis farm, but instead found a big bitcoin mining facility, that was coincidentally bypassing the controls from the local power utility company to siphon energy from the main grid, stealing thousands of pounds in the process. UK Police Raid Alleged Cannabis Farm, Stumbles Upon Bitcoin Mining Facility The West Midlands Police Department got a real surprise last week when they raided an alleged cannabis farm in an industrial premise, just…

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Chinese Economist Says if Bitcoin Is Widely Adopted: ‘We’re All Going to Die, This Is Not a Joke’

A Chinese economist and assistant director at the International Monetary Institute of Renmin University, Qu Qiang, has predicted that “We’re all going to die” if bitcoin becomes widely adopted as a currency. He foresees our society falling into “a death spiral of deflation,” noting that “the whole society is going to shrink and self-explode.” We’re All Going to Die if Bitcoin Is Widely Adopted, Predicts Chinese Economist An assistant director at the International Monetary Institute of Renmin University, Qu Qiang, was interviewed on CGTN about bitcoin. CGTN is owned by…

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Financial Guru Dave Ramsey Advises Whether One Should Invest in Bitcoin, Other Cryptocurrencies

Financial guru Dave Ramsey has given advice on whether one should invest in cryptocurrencies, like bitcoin. Ramsey sees cryptocurrency as a get-rich-quick scheme, preferring to make his money in a “methodical” and “boring” way. Dave Ramsey’s Advice on Investing in Bitcoin and Other Cryptocurrencies Dave Ramsey has given advice on cryptocurrency investing. Michael from Dayton, Ohio, called into The Ramsey Show saying that he had been looking into cryptocurrency and asked whether he should be investing in it. The episode, entitled “Should I Invest in Cryptocurrency?” was aired on May…

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Major British Bank Natwest Alerts Customers With Tips to Avoid Cryptocurrency Scams

Major British bank Natwest has launched an alert to urgently warn its customers of cryptocurrency scams, which have been on the rise. The bank has provided several tips for customers “thinking of investing in bitcoin or other cryptocurrencies” on how to spot scams involving cryptocurrencies. “If you ignore the above advice, you could lose all of your money,” the bank cautioned. Natwest’s Advice on How to Spot Crypto Scams National Westminster Bank (Natwest), a major retail and commercial bank in the U.K., has launched an urgent cryptocurrency scam alert on…

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Notorious ‘Tiger King’ Joe Exotic Launches ETH-Based Token to Help Legal Fund

The infamous Joseph Maldonado, aka “Joe Exotic,” from the docuseries “Tiger King: Murder, Mayhem and Madness,” has launched his own Ethereum-based token. According to the website tiger-king.org, the project will also feature non-fungible tokens (NFTs) and the proceeds from NFT sales will go toward helping Joe Exotic’s legal defense team and tiger rescue funding. ‘Tiger King’ Joe Exotic Launches an ERC20 Token The costar of the docuseries “Tiger King” has announced the launch of a new crypto asset called “TKING,” according to the reality series star’s official Twitter account. Bitcoin.com…

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EZ Blockchain Partners With Texas-Based Oil Provider to Monetize Wasted Natural Gas With Bitcoin

While a number of media pundits and politicians have been talking about Bitcoin’s energy consumption, there’s been a myriad of firms working toward green solutions well before all the controversy. Unfortunately, critics don’t highlight the amount of renewables miners use or the cogeneration applications. One project called EZ Blockchain has partnered with the Texas-based oil and gas service provider, Silver Energy to monetize wasted natural gas with bitcoin, while reducing emissions. Monetizing Stranded Gas and Reducing Emissions With Bitcoin A firm called EZ Blockchain recently detailed that the company has…

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US Senator Urges Treasury Secretary Yellen to Take Action on Cryptocurrency Scams to Protect Investors

U.S. Senator Rick Scott has urged Treasury Secretary Janet Yellen to take action on cryptocurrency scams, which he said have risen 1,000% in the past year and cost consumers at least $80 million. “This is an unregulated industry, and the alarming amount of criminal activity surrounding cryptocurrency demands action,” he told Yellen. Senator Scott Alerts Janet Yellen to Cryptocurrency Scams Senator Rick Scott wrote a letter to Treasury Secretary Jenet Yellen on Thursday raising concerns regarding the rising number of scams involving cryptocurrencies. The senator wrote: I write today with…

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Brazilians Who Held $1,000 in Crypto Last Year Must Report It on Tax Returns by End of May

Taxpayers in Brazil have only a couple of days left to file their annual tax returns. Investors who had more than 5,000 reals worth of cryptocurrency in 2020, a little less than $1,000, are obliged to report the funds on their income tax declarations this year. Brazilians who fail to do that on time face hefty fines. Deadline for Tax Filing in Brazil Expires Midnight May 31 Brazilian citizens are required to file their 2021 income tax returns before June 1. This year, the deadline was extended by a month…

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