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BAN Price:
$16.2 K
All Time High:
Market Cap:
$6.4 M

Circulating Supply:
Total Supply:
Max Supply:


The price of #BAN today is $0.00415 USD.

The lowest BAN price for this period was $0, the highest was $0.00415, and the exact current price of one BAN crypto coin is $0.00414638.

The all-time high BAN coin price was $0.06.

Use our custom price calculator to see the hypothetical price of BAN with market cap of BTC or other crypto coins.


The code for Banano crypto currency is #BAN.

Banano is 5.1 years old.


The current market capitalization for Banano is $6,385,676.

Banano is ranked #640 out of all coins, by market cap (and other factors).


There is a modest volume of trading today on #BAN.

Today's 24-hour trading volume across all exchanges for Banano is $16,191.


The circulating supply of BAN is 1,540,061,675 coins, which is 50% of the total coin supply.


BAN is available on several crypto currency exchanges.

View #BAN trading pairs and crypto exchanges that currently support #BAN purchase.



Banano is Turning 5! Join the Birthday Party on April 1st!

Time flies, and it feels crazy that it’s already 5 years since Banano launched in 2018 and started its entirely free crypto distribution efforts. Banano is turning 5 on April 1st, 2023 — and you should come and celebrate with one of the most wholesome communities in the whole cryptoverse — at Discord and Reddit! All details below! — BANANO — Don’t Let Your Memes Be Dreams!. — This cryptocurrency experiment started on April 1st, 2018 with the launch of the Banano main-net. It all began on the Banano Discord server. Now, 5 years later, everything has grown and evolved a lot and Banano has developedinto one of the most wholesome and fun places in the whole cryptoverse. It’s crazy how much has happened over the years! Meanwhile, Banano is held by almost 200k wallet addresses and Banano has been transacted about 24 Million times on our mainnet (that’s 13k txs per day in average!). Check out the almost complete Banano history with more than 1119 documented airdrops, community events, faucet game runs, dev announcements, and lots of other news here. It’s lots of fun to go through everything that has happened during those years. New to Banano? Curious to learn more? To get an impression what Banano is about, our Yellowpaper is also a fun and informative read! Here’s some more help getting started. — Join the Banano Bday Party at Discord and Reddit!. — As every year, the main p...

BANANO Monthly Update #58 (February 2023)

This BANANO Monthly Update February 2023 summarizes all important news from the BANANO ecosystem in January 2023, which was the 58th month since the BANANO main-net launch. The idea of those monthly updates is to keep our community informed, provide a good starting point for new people looking at the project, and to be transparent about BANANO’s ongoing distribution activities and community growth. — BANANO Ecosphere News from January 2023 (newest first). — 2023–01–29 BANANO Sundays BANFam Community Call #31 recap 2023–01–29 Community Event: BANANO Grammys 2023 2023–01–29 Jungle TV’s Suprise Theme Tunesday 2023–01–29 Comedy feature: Emergency deprediation approved by Jungle Council 2023–01–27 BANANO Monthly Update #57 (January 2023) 2023–01–26 Community Event: Potássio é quase amor 2023–01–18 cryptomonKeys celebrating the release of cryptomonKey No 100: monKey Generator! 2023–01–17 Wrapped Banano (wBAN) Update: Zaps & more! 2023–01–15 BanFeast 2021 Official Digital Cookbook 2023–01–15 BANANO Sundays: recap of the BANFam Community Call #30 2023–01–14 Community Project: monKeyRice — Earn BAN and cryptomonKeys while helping charities 2023–01–12 cryptomonKeys featured on AtomicHub startpage 2023–01–11 cryptomonKeys launching monKeybrigade 2023–01–10 JungleTV Tunesday announcement 2023–01–09 BANANO Team is No 6 on FreeRice! 2023–01...

BANANO Monthly Update #57 (January 2023)

This BANANO Monthly Update January 2023 summarizes all important news from the BANANO ecosystem in December 2022, which was the 57th month since the BANANO main-net launch. The idea of those monthly updates is to keep our community informed, provide a good starting point for new people looking at the project, and to be transparent about BANANO’s ongoing distribution activities and community growth. — BANANO Ecosphere News from December 2022 (newest first). — 2022–12–31 BANANO BANAcademy awards show 2022 2022–12–30 JungleTV Event Announcement: Nifty NFT Raffle 2022–12–29 Next Gen Needs Crypto! BANANO featured in cointelegraph article 2022–12–29 Wrapped Banano (wBAN) Defi Farms Update 2022–12–27 Jungle TV Event Announcement: Tunesday 2022–12–25 The Freerice Banano team reached 100 million grains! 2022–12–25 Merry Xmas! 2022–12–23 [Community Event] Banano World Juniors of Hockey Pickems 2022–12–22 BANANO Monthly Update #56 (December 2022) 2022–12–21 Community Project Announcement: Potassius Beta Wallet 2022–12–20 Community Project: JungleTV Tunesday Scheme Instrumental Event 2022–12–20 Community-organized event: Age of Empires Tournament Update 2022–12–20 Interview with BANANO Contributor Airtune 2022–12–19 BANANO included in Exodus Wallet Voting 2022–12–19 BANANO Xmas Bango Event 2022–12–18 BANANO Xmas Giveaway at Reddit 2022–12–16 BANa...

Wrapped Banano (wBAN) Zaps

A new release of the dApp (v2.6.0) is now available and brings plenty of new features and improvements. — Zap in / Zap out - This is the major feature introduced in the version.Due to high gas prices, we couldn’t test zaps on Ethereum. You can still deposit the “old way” if you want to wait for an official confirmation this is working on Ethereum as well. Zaps on all other networks have been sucessfully tested! When compounding your hard earned wBAN you had to manually perform plenty of actions: swap half of your earned wBAN, via the DEX page, add more liquidity in the pool from wBAN and the other token, via the DEX page, deposit your liquidity pool token in the farm, Now you can easily zap in from either wBAN or the other token and have most of the process automated for you. You don’t need to open any DEX page anymore.Example providing liquidity from 100% wBAN The process is pretty straightforward: zap your tokens (wBAN or the other one) into LP liquidity tokens A new contract will do for you the swap and provide liquidity (so steps 1. and 2. from above process), deposit your LP tokens into the farm, Zap out is almost the same: once you withdraw your liquidity pool tokens from the farm, you will be able to zap out to either wBAN or the other token. This will remove your liquidity (no need to open a DEX page anymore) and ensure all your liquidity is converted to the zap out token you picked.Example r...

BANANO Monthly Update #56 (December 2022)

This BANANO Monthly Update December 2022 summarizes all important news from the BANANO ecosystem in November 2022, which was the 56th month since the BANANO main-net launch. The idea of those monthly updates is to keep our community informed, provide a good starting point for new people looking at the project, and to be transparent about BANANO’s ongoing distribution activities and community growth. Also, the BANANO team wishes everyone a very Merry x-mas! — BANANO Ecosphere News from November 2022 (newest first). — 2022–11–29 BANANO Monthly Update #55 (November 2022) 2022–11–29 wBAN farm on Ethereum has been extended, 450k BAN rewards! 2022–11–24 Community project: BananoSports Betting Pools Announcement 2022–11–23 JungleTV Event: Rice Night- Food Videos Edition 2022–11–19 BANANO Cookie’s Cup — Mario Kart Tour Tournament 2022–11–19 cryptomonKeys Colouring Contest: Winter Edition 2022–11–16 XGO x Banano Announcement 2022–11–13 Banano Sundays Community Call #27 2022–11–11 BANANO FIFA World Cup 2022 Community Event Announcement 2022–11–08 BANANO ENS Party 2022–11–10 BANANO sending commiserations to FTX victims 2022–11–06 BANANO Bancademy Awards 2022 Announcement 2022–11–06 Dungeons & Banano’s D&D Live Stream: The Icebox with JungleTV! 2022–11–05 Banano BoomPow Update 2022–11–01 Wrapped Banano (wBAN) is now Live on Ethereum and ...

Wrapped Banano (wBAN) is now Live on Arbitrum and SushiSwap!

TLDR: Go to, select Arbitrum network, do the bridge setup and you’re ready to start wrapping your BAN, swapping and soon farming. — Transaction Fees - Gasless wraps & swaps are enabled on Arbitrum: you can start your Arbitrum journey only from BAN! Like for the other network having gasless feature enabled (all but ETH) you can do a single gasless wrap if you never wrapped before, and a single gasless swap if you don’t already hold a lot of ETH on Arbitrum. This is to make onboarding into Arbitrum a little easier. For transactions after that, expect wrap/unwrap transaction fees to be about $0.05 and “complex swap” to be close to $0.15 (at current prices).Remember the permit feature we added for wBAN? wBAN dApp uses the same principles now for the farms (Ethereum & Arbitrum networks only): you don’t need to approve the LP tokens for the farms. When you’ll make a deposit, it will ask for a permit signature, then submit the deposit transaction, to have both approval and deposit done in a single transaction. — Farming - Attention monkeys, this time the farming period will start 24h after this annoucement is made. This should give you plenty of time for setting up and staking your liquidity, and be on the first line to grab the following juicy rewards: A single farm is available, for wBAN-ETH liquidity. This farm will distribute an initial round of rewards of 500k wBAN until Dec 31...

BANANO Monthly Update #55 (November 2022)

This BANANO Monthly Update November 2022 summarizes all important news from the BANANO ecosystem in October 2022, which was the 55th month since the BANANO main-net launch. The idea of those monthly updates is to keep our community informed, provide a good starting point for new people looking at the project, and to be transparent about BANANO’s ongoing distribution activities and community growth. — BANANO Ecosphere News from October 2022 (newest first). — 2022–10–30 Banano Sundays Community Call #26 2022–10–26 Community Event Announcement: Haunted Mansion Bash 2022–10–25 BANANO Monthly Update #54 (October 2022) 2022–10–23 Community Event Announcement: Creepy Costumes and Monster Makeup 2022–10–21 Banano Sundays Community Call #25 2022–10–17 cryptomonKeys Event announcement: Horror stories on cryptomonKeys 2022–10–16 Event announcement: Spooky Bango 2022 2022–10–14 Community Event announcement: Wicked Mask 2022–10–07 Community Event announcement: All in for your Life — Poker Tournament 2022–10–05 Community Event announcement: Banano Hit’Em Up — MLB Bracket Pick’em 2022 2022–10–03 Community Project Announcement: Dungeons & Banano: Ban Games Halloween Edition (Part 2) 2022–10–03 Giveaway at Banano Community Project/Faucet Nanswap 2022–10–02 Community Project Announcement: 2022–10–02 Celebrating 4.5 years of BANANO (Red...

Wrapped Banano (wBAN) is now Live on Ethereum and Uniswap!

TLDR: Go to, select Ethereum network, do the bridge setup and you’re ready to start wrapping your BAN, swapping and farming. Have a look at Transaction Fees section below, though. — Why wBAN on Ethereum? - Monkeys may wonder why we made the bridge available on Ethereum, one of the blockchains with the highest transaction fees.No, that’s not the reason ;) After careful consideration, we have decided that we are finally ready to graduate from “fee-less” to “more fees than you want to shake a banana at”. 🍌 Here are some reasons we’re crossing this bridge: Having wBAN on Ethereum may enable us to get more traction with DeFi users who don’t know about Banano., Ethereum ecosystem is a very vibrant one. It might enable synergies with other projects. Who wants to buy an ENS domain from wBAN (swapped to ETH)? ;), Lastly we are hoping to get higher TVL and volumes., — Farm - A single farm is available, for wBAN-ETH liquidity. This farm will distribute at a rate of 500k wBAN over 4 weeks, but this may be revisited after this initial round of rewards. — Transaction Fees - Gasless wraps & swaps are not enabled for quite obvious reasons. It is wise to wait for low gas prices to submit your transactions. Usually weekends have lower gas prices, and the 1am-3am UTC interval is often a good one.Remember the permit feature we added for wBAN? wBAN dApp uses the same principles now...

BANANO Monthly Update #54 (October 2022)

This BANANO Monthly Update October 2022 summarizes all important news from the BANANO ecosystem in September 2022, which was the 54th month since the BANANO main-net launch. The idea of those monthly updates is to keep our community informed, provide a good starting point for new people looking at the project, and to be transparent about BANANO’s ongoing distribution activities and community growth. — BANANO Ecosphere News from September 2022 (newest first). — 2022–09–30 Community event announcement: Paranormal Emoji Contest 2022–09–29 BANANO Monthly Update #53 (September 2022) 2022–09–25 Banano-Chan’s JungleTV TakeOver 2022–09–18 Community events announcement: Halloween Events! 2022–09–17 Official BANANO giveaways at Twitter and Reddit 2022–09–15 BANANO Hackathon — Booster 2 Winners Announcement! 2022–09–14 Hotbit Banano withdrawals have been enabled 2022–09–13 PRE-MORTEM: Bananochan’s JungleTV takeover 2022–09–06 BANANO featured on Nano Community Twitter Space 2022–09–05 Community event announcement: monKeypicK’em — Win cryptomonKeys NFTs & Banano for picking NFL games 2022–09–05 Community project announcement: goes live 2022–09–04 Community project announcement: a new interactive faucet 2022–09–04 BANANO Community Calls #22 Recap 2022–09–04 Community-organized Event: BANANO Emmys 2022 2022–...

BANANO Monthly Update #53 (September 2022)

This BANANO Monthly Update September 2022 summarizes all important news from the BANANO ecosystem in August 2022, which was the 53rd month since the BANANO main-net launch. The idea of those monthly updates is to keep our community informed, provide a good starting point for new people looking at the project, and to be transparent about BANANO’s ongoing distribution activities and community growth. — BANANO Ecosphere News from August 2022 (newest first). — 2022–08–30 BANANO Monthly Update #52 (August 2022) 2022–08–28 JungleTV Tunesday EVent Announcement: Suprise Theme Edition 2022–08–28 Community Event Announcement: LowCostPlay Contest 2022–08–26 BoomPow V2 Dashboard release 2022–08–23 Community Event Announcement: Monkey Web Coding Challenge #3 2022–08–21 Banano Sundays Community Call #21 2022–08–19 Community Event Announcement: Banano MTV Video Music Awards 2022 2022–08–17 JungleTV Update: SoundCloud tracks can now be enqueued on JungleTV 2022–08–16 Community Event Announcement: Potassium Bullet Tournament 2022–08–15 Banano Sundays Community Call #20 2022–08–13 Dungeons & Banano LiveStream with JungleTV 2022–08–11 Announcing BoomPoW V2 — A complete rewrite and redesign of the BoomPoW protocol 2022–08–01 JungleTV Tunesday Theme: 2010’s All-time BANANO News list at — What the Fork is BANANO?. — For those of you...


Bitcointalk Forum to Enforce Mixing Talk Ban

    Bitcointalk, a historic Bitcoin-focused forum, has announced it will start banning mixer-related topics next year. Forum administrator Theymos argued that while these services were not necessarily illegal, a pattern has emerged where these platforms are consistently being taken down by law enforcement. Bitcointalk Forum Announces Upcoming Ban on Mixing Topics Bitcointalk, a historic forum platform where Bitcoin creator Satoshi Nakamoto often wrote posts, has announced that it will enforce a ban on mixing related talk. The ban will start to be applied next year, affecting topics that describe the use of these platforms focused on increasing privacy and obscuring the source of the bitcoin held in an address. Theymos, the administrator of the Bitcointalk platform, clarified that starting January 1, all old posts referring to mixers will be locked and archived, while new posts directing people to the use of mixers could lead users to be banned from the site. Mixer addresses will be filtered, and any attempts to go over this filter will also be ban-worthy. Theymos stated that discussing mixers 'in a general sort of way' will still be allowed. While Theymos acknowledges that cryptocurrency mixers are not illegal per se, he stressed it was 'no longer reasonably possible to allow linking to mixers.' He stated: A clear pattern has emerged where mixers pop up, last for a little while, and then get taken down by law enforcement once they get too big. Allowing mixers to be posted ... read More

Brian Armstrong Criticizes Chase UK's Ban on Crypto-Related Payments

    Coinbase co-founder and CEO Brian Armstrong has condemned the planned move by Chase UK, a subsidiary of the US-based multinational financial services behemoth JPMorgan, to restrict its clients in the United Kingdom from making cryptocurrency transactions. The Coinbase chief advised UK crypto holders to close their accounts with Chase in response to the bank's ban. Armstrong Not Pleased With Chase UK Crypto Restrictions Brian Armstrong took to X to slam Chase UK's crypto restrictions, labeling the bank's actions as 'totally inappropriate.' The Coinbase CEO went ahead to tag the UK Prime Minister Rishi Sunak and the country's Economic Secretary to Secretary Andrew Griffith, stating that the decision by Chase UK seemed to be different from their policy goals. Totally inappropriate behavior from @Chase UK (this is their UK bank only is my understanding)@RishiSunak @griffitha It appears @Chase UK does not respect your policy goals - thoughts? UK crypto holders should close their @Chase accounts if this is how they're going to be… — Brian Armstrong (@brian_armstrong) September 26, 2023 Sunak and Griffith are both keen on seeing the United Kingdom establish itself as a major cryptocurrency hub. The Financial Services and Markets Bill, which paves the way for crypto regulation, received royal assent after a majority of the members of the House of Lords voted in favor of the bill. Armstrong previously lauded the UK's efforts towards creating cle... read More

Singapore's Monetary Authority Issues 9-Year Ban on Three Arrows Capital...

    The Monetary Authority of Singapore (MAS) has issued nine-year prohibition orders against Three Arrows Capital (3AC) founders Zhu Su and Kyle Davies, banning them from regulated financial activities in the country. The orders come after a MAS investigation that reportedly uncovered multiple violations of securities laws by the now-defunct crypto hedge fund and its directors.MAS Slaps 9-Year Ban on Three Arrows Capital Founders Over Violations The prohibition orders prevent Zhu and Davies from performing any regulated activity or taking part in managing or becoming a major shareholder of any Singapore capital market services firm. The notice disclosed that the bans took effect on September 13. MAS first reprimanded 3AC in June for providing false information and exceeding assets under management limits. Further investigation found 3AC failed to notify regulators about hiring a portfolio manager, gave false information about the manager's role, and lacked an adequate risk management framework for its cryptocurrency investments. As directors of 3AC, Zhu and Davies were primarily responsible for ensuring compliance with regulations, MAS detailed. “MAS’ investigation showed that they had failed to discharge their duties and were responsible for TACPL’s breaches,” the entity wrote in the press release. MAS Assistant Managing Director Loo Siew Yee stated: “Senior management of fund managers are required to implement robust risk management measures to pr... read More

Kuwait Capital Markets Authority Reaffirms Comprehensive Crypto Asset Ba...

    In a circular released by the Capital Markets Authority of Kuwait, the regulator reaffirmed its position that Kuwait strictly prohibits the use of virtual currencies and bans mining activities within the Gulf state. The authority also emphasized the importance for businesses to inform customers about potential “risks that may arise” with dealing with crypto assets not prohibited outside of Kuwait. Kuwait's Regulator Warns Businesses of Consequences for Non-compliance Toward Crypto Ban On July 18, 2023, Kuwait's Capital Markets Authority, the regulator for financial instruments and securities in the Gulf nation, reiterated its ban on crypto assets. The authority states the rules align with enhancing efforts to combat money laundering and terrorist financing. The regulations also comply with Financial Action Task Force recommendations and standards. Kuwait's regulator underscores five critical rules which stipulate an “absolute prohibition of using virtual assets as a payment instrument/method.” Moreover, Kuwaiti businesses are forbidden from engaging with virtual assets as an investment vehicle, requiring firms in the Gulf state to avoid “offering this type of service to any customers.” Crypto asset mining and related activities are also strictly prohibited, and Kuwaiti citizens and businesses must abstain from participation. Any business violating the regulator's rules may face penalties, including the potential loss of their business lice... read More

Pakistan to Ban Online Services Related to Cryptocurrencies

    Authorities in Pakistan intend to prohibit all internet-based crypto services despite significant digital-asset investments made by Pakistanis. The decision comes as government officials in Islamabad take a strong stance against the legalization of cryptocurrencies like bitcoin.Crypto ‘Will Never Be Legalized in Pakistan,’ Minister Tells Senators Pakistan’s government announced on Wednesday its decision to suspend cryptocurrency services offered online in the country, local media reported. One of the declared goals of the measure is to prevent illegal transactions with digital assets. The State Bank of Pakistan (SBP) and the Ministry of Information Technology have already started working on banning cryptocurrencies, Minister of State for Finance Aisha Ghaus Pasha revealed during a meeting of the Senate Standing Committee on Finance and Revenue. Cryptocurrency will “never be legalized in Pakistan,” Pasha insisted, quoted by the News International daily. She cited requirements by the Financial Action Task Force (FATF), the international body combatting money laundering and terrorism financing, that the country must meet. According to the Pakistani newspaper, the government official was referring to potential risks for Pakistan following its removal from the FATF’s ‘grey list’ last fall. The country had been on it since 2018 due to “strategic counter-terrorist financing-related deficiencies.” Pasha has been quoted as s... read More

Iraq Issues Ban on US Dollar Transactions to Bolster Usage of Iraqi Dina...

    The government of Iraq issued a ban on using the U.S. dollar for conducting business transactions on May 14. The ban, which is already in effect, is designed to bolster the usage of the Iraqi dinar, the fiat currency of the country, and to reduce the influence of the dollar and its exploitation in black markets. Iraq Issues Ban on U.S. Dollar-Based Transactions The Iraqi Ministry of Interior has issued a ban on using the U.S. dollar for conducting personal and business transactions in the country. According to local reports, the ban, which was enacted on Sunday, is designed to bolster the usage of the local currency, the Iraqi dinar, and reduce the advance of dollarization in Iraq. The measure also seeks to lower the difference between the official exchange rate offered by the government, and the exchange rate offered on the black market, which has fueled price rises. The ministry stated: The dinar is the national currency in Iraq. Your commitment to transact in it instead of foreign currencies boosts the country’s sovereignty and economy. Furthermore, it remarked that dealing in currencies other than the Iraqi dinar was punishable by law and that it was committed to 'hold accountable anyone who attempts to undermine the Iraqi dinar and the economy.' Enforcement and Fines For the enforcement of this ban, the Interior Ministry's Anti-organised Crime Directorate has moved to request traders to sign pledges assuring they will only conduct business using the I... read More

Nigeria Passes 'National Blockchain Policy,' Industry Player Says Centra...

    The Nigerian Federal government said on May 3 it had passed what it called the 'national blockchain policy.' The Nigerian minister of communications and digital economy, Isa Pantami, said the new policy is a product of consultations with 56 institutions and personalities. Lucky Uwakwe, the founder of the technology service delivery company Sabi Group, said the Central Bank of Nigeria (CBN) is unlikely to reverse its stance on privately issued digital currency.Blockchain Policy a Product of Widespread Consultations The Nigerian Federal government recently approved what Isa Pantami, the country’s minister of communications and digital economy, has described as the country’s 'national blockchain policy.' According to Pantami, the new policy is a product of widespread consultations with some 56 Nigerian institutions and personalities. Remarking on what this feat means for Nigeria's blockchain industry, Pantami, who spoke after a Federal Executive Council meeting chaired by outgoing president Muhammadu Buhari, said: With the approval of the national blockchain policy for Nigeria today, we can safely say that blockchain technology with all its components and types have been institutionalized in the country. The minister added that the country’s security council and the National Information Technology Development Agency (NITDA) have been asked to jointly develop and formulate regulatory instruments for all sectors. CBN Crypto Directive Following the announcement, ... read More

North Carolina House Votes in Favor of CBDC Ban

    North Carolina’s House of Representatives unanimously voted in favor of a bill banning the acceptance of Central Bank Digital Currencies (CBDCs) by government entities.  The legislation follows a wave of vocal opposition to CBDCs from the Republican party, alongside some critics from the Democrat side.  North Carolina Rejects CBDCs The vote on May 3 saw 118 House members agreeing to pass House Bill 690, while just two members abstained from the vote, and none voted against it.  Alongside the acceptance ban, the bill would also prohibit the state from participating in Federal Reserve branch testing of a potential CBDC.  The bill was initially proposed to the House in April titled “AN ACT TO PROHIBIT PAYMENTS IN CRYPTOCURRENCY TO THE STATE,” but was modified on May 2 to substitute the word “cryptocurrency” with “central bank digital currency.” The latter is defined as “a digital currency, a digital medium of exchange, or a digital monetary unit of account issued by the US Federal Reserve System or a federal agency that is made directly available to a consumer by such entities.” After three readings in the House and a successful pass, the legislation now must pass through the Senate, and then through Governor Roy Cooper before it can be signed into law.  North Carolina isn’t the first to oppose CBDCs: Florida governor Ron DeSantis called on the state legislature to ban CBDC use as money within F... read More

Robert Kennedy Jr: Government Could Ban, Seize Bitcoin — CBDCs Cou...

    Presidential hopeful Robert F. Kennedy Jr. has issued a warning regarding the Federal Reserve’s new Fednow system and the potential risks of central bank digital currencies leading to financial slavery and political tyranny. He additionally warned: “We should not be blind to the obvious danger that this is the first step in banning and seizing bitcoin as the Treasury did with gold 90 years ago.'Robert F. Kennedy Jr. Warns about Fednow and CBDCs Lawyer and vaccine skeptic Robert F. Kennedy Jr. criticized the Federal Reserve's Fednow system and central bank digital currencies in a tweet on Wednesday — the same day he filed paperwork to run for president in 2024. He is President John F. Kennedy’s nephew and U.S. Senator Robert F. Kennedy’s son. “The Fed just announced it will introduce its ‘Fednow’ Central Bank Digital Currency (CBDC) in July,” he wrote, elaborating: CBDCs grease the slippery slope to financial slavery and political tyranny. Fednow is the Federal Reserve's real-time gross settlement (RTGS) system for instant payments. However, the Fed’s CBDC development is separate from Fednow, and Fed Chair Jerome Powell said last month that the central bank’s CBDC work is still in the early stages of experimentation. “While cash transactions are anonymous, a CBDC will allow the government to surveil all our private financial affairs. The central bank will have the power to enforce dollar limits on our tran... read More

Bitcoin Creator Satoshi Nakamoto Turns 48 Today, Coinciding With the Ann...

    According to the P2P Foundation forum, the mysterious creator of Bitcoin, Satoshi Nakamoto, has ostensibly turned 48 today on April 5, 2023. More than 14 years ago, Nakamoto introduced Bitcoin to the forum members, noting that the inventor 'developed a new open-source P2P e-cash system called Bitcoin.'The Significance of April 5 in the History of the U.S. Monetary System and Its Connection to Bitcoin's Creator Just over 14 years ago, Satoshi Nakamoto registered with the P2P Foundation forum to share information about Bitcoin. According to Nakamoto's P2P Foundation page, the mysterious creator chose a birthday of April 5, 1975. In addition to revealing the birthday date, Nakamoto identified as male and claimed to be from Japan. Other than those sparse details, no additional information about Nakamoto can be gathered from the P2P Foundation forum. If the registered April 5, 1975, birthday is factual, Nakamoto would have turned 48 years old today. On Wednesday, cryptocurrency proponents discussed the relevance of Nakamoto's alleged birthday and why Bitcoin's creator may have chosen that specific date on the Reddit forum r/cryptocurrency. The Redditor who started the discussion explains how many Bitcoiners believe that April 5 was chosen because it was the day U.S. president Franklin D. Roosevelt confiscated gold from Americans and banned its ownership. Ratified in 1933, Executive Order 6102, signed by FDR, forbade 'the hoarding of gold coin, gold bullion, and gold certificates w... read More

Controversial 'Tiktok Ban Bill' Sparks Concerns Among Cryptocurrency and...

    Cryptocurrency and technology proponents have recently been discussing a new bipartisan bill called the 'Restricting the Emergence of Security Threats that Risk Information and Communications Technology (RESTRICT)' Act. In addition to targeting firms such as Kaspersky, Huawei, and Tiktok, opponents of the bill believe one of its provisions will punish ordinary Americans for leveraging a virtual private network (VPN). However, a spokesperson for Democratic senator Mark Warner insists the 'legislation is aimed squarely at companies' and 'not at individual users.'Concerns Over the RESTRICT Act's Potential Impact on Cryptocurrency and VPN Use Since the bill was introduced in March, the RESTRICT Act, sponsored by over a dozen bipartisan politicians and initiated by senator Mark Warner (D-VA), has been the center of controversy. A great deal of attention has been focused on the bill targeting Tiktok, and several reports say the legislation could be used to ban the app in the United States. The act would give the U.S. president and secretary of commerce the ability to regulate technologies that can be tied to nations such as Russia, China, Venezuela, North Korea, Cuba, and Iran. Tech advocates and cryptocurrency supporters are concerned about the bill and have been discussing its implications on forums and social media. One particular provision in Warner's RESTRICT Act has caused many people to believe that Americans could be jailed for using a virtual private network (VPN). The bil... read More

US Senator Introduces Bill to Ban Direct-to-Consumer Central Bank Digita...

    U.S. Senator Ted Cruz has introduced 'legislation to prohibit the Federal Reserve from developing a direct-to-consumer' central bank digital currency (CBDC). The lawmaker warned that it 'could be used as a financial surveillance tool by the federal government.' Another senator stressed: 'The American people ought to be able to spend their money how they choose without the possibility that every transaction could be tracked by the government.'Senator Ted Cruz's CBDC Bill U.S. Senator Ted Cruz (R-TX) announced Tuesday that he has reintroduced 'legislation to prohibit the Federal Reserve from developing a direct-to-consumer central bank digital currency which could be used as a financial surveillance tool by the federal government.' The bill, cosponsored by Senators Braun (R-IN) and Grassley (R-IA), was first introduced in March of last year. The announcement highlights the importance of ensuring that the U.S. digital currency policy 'protects financial privacy, maintains the dollar's dominance, and cultivates innovation.' Cruz warned: CBDCs that fail to adhere to these three basic principles could enable an entity like the Federal Reserve to mobilize itself into a retail bank, collect personally identifiable information on users, and track their transactions indefinitely. The senator from Texas noted that unlike decentralized cryptocurrencies, such as bitcoin, CBDCs 'centralize Americans' financial information, leaving it vulnerable to attack.' He cautioned, 'The federal govern... read More

FL Gov. DeSantis Proposes Ban on Central Bank Digital Currency Use as Mo...

    Governor Ron DeSantis of the U.S. state of Florida has proposed legislation to prohibit the use of central bank digital currency (CBDC) as money in his state. 'The Biden administration's efforts to inject a centralized bank digital currency is about surveillance and control,' the governor warned.Governor Ron DeSantis Proposes Law to Prevent Financial 'Weaponization' Through a CBDC Florida Governor Ron DeSantis announced 'comprehensive legislation' Monday to protect consumers and businesses in his state 'from the Biden administration's weaponization of the financial sector through a central bank digital currency (CBDC).' Governor DeSantis warned: The Biden administration's efforts to inject a centralized bank digital currency is about surveillance and control. He added that the proposed legislation will protect consumers and businesses in his state 'from the reckless adoption of a 'centralized digital dollar' which will stifle innovation and promote government-sanctioned surveillance.' The governor also noted that CBDCs are not the same as decentralized cryptocurrencies, such as bitcoin (BTC). The legislative proposal prohibits the use of a federally adopted central bank digital currency as money within Florida's Uniform Commercial Code (UCC), the announcement details, adding that it also prohibits any CBDCs issued by a foreign reserve or foreign-sanctioned central bank. Foundation for Government Accountability CEO Tarren Bragdon noted that this proposal pushes back on 'an ove... read More

Chair of EU Parliament's Committee on Budgets Calls for Crypto Ban Amid ...

    A European lawmaker has urged authorities to impose a ban on cryptocurrencies citing the current crisis in the banking sector as a reason. Johan Van Overtveldt, former finance minister of Belgium, believes these assets bring no economic or social value.Belgium’s Ex-Finance Minister Suggests Ban on Decentralized Digital Currencies Member of the European Parliament, Johan Van Overtveldt, has insisted that governments should prohibit cryptocurrencies like bitcoin. His call comes amid a crisis sparked by the failure of several banking institutions, including two crypto-friendly banks in the U.S. “Another lesson to be learned from the current banking commotion. Enforce a strict ban on cryptocurrencies,” the lawmaker, who has previously praised blockchain technology, tweeted on Friday. “Speculative poison and no economic or social added value. If a government bans drugs, it should also ban cryptos,” he argued. Nog een les te trekken uit de huidige bankcommotie. Leg een strikt verbod op cryptocurrencies op. Speculatief gif en geen enkele economische- of sociale toegevoegde waarde. Als een overheid drugs verbiedt, moet ze ook crypto’s verbieden. — Johan Van Overtveldt (@jvanovertveldt) March 17, 2023 Van Overtveldt is a Belgian journalist and politician from the New Flemish Alliance (N-VA) party, who served as his country’s minister of finance between 2014 and 2018, in the government of Prime Minister Charles Michel. He was elected to ... read More

Republican Congressman Tom Emmer Introduces Bill to Ban Fed's CBDC

    On February 22, Republican Congressman Tom Emmer of the US House of Representatives introduced a bill to ban the Federal Reserve (Fed) from issuing a central bank digital currency (CBDC). The 'CBDC Anti-Surveillance State Act' aims to protect the financial privacy of American citizens by prohibiting the creation of a CBDC by the Fed without prior review and approval from Congress. Emmer argued that creating a CBDC could negatively impact financial privacy and individual freedom, as authorities and regulatory entities could use it as a tool to track and control citizens' spending. Today, I introduced the CBDC Anti-Surveillance State Act to halt efforts of unelected bureaucrats in Washington, DC from stripping Americans of their right to financial privacy. — Tom Emmer (@GOPMajorityWhip) February 22, 2023 Emmer further explained that the bill prohibits the Fed from issuing a CBDC directly to anyone, prevents it from using a CBDC to implement monetary policy and control the economy, and sets the frame for more transparency on such projects. The congressman clarified he is not opposed to technological innovation that could come with the creation of a CBDC. However, he maintained that these innovations should not infringe on citizens' rights. Financial Privacy Is a Priority The creation of a CBDC could have a significant impact on financial privacy. Since CBDC transactions would be recorded on a blockchain, authorities could track and trace finan... read More

Coinbase CEO Brian Armstrong Expresses Concern Over Rumors of SEC Ban on...

    Brian Armstrong, CEO of Coinbase, expressed concern about rumors that the U.S. Securities and Exchange Commission (SEC) may eliminate cryptocurrency staking for retail customers in the United States. Armstrong insisted that 'staking is not a security' and that the trend allows users to 'participate directly in running open crypto networks.'Coinbase CEO Vocalizes Worry Over US Stifling Crypto Staking and Innovation Coinbase CEO Brian Armstrong said he has heard rumors that the U.S. Securities and Exchange Commission (SEC) plans to eliminate cryptocurrency staking for retail customers in the U.S. Armstrong shared his views on Twitter and stated that he doesn't believe the top securities regulator should ban cryptocurrency staking in the country. 'I hope that's not the case,' Armstrong wrote, 'as I believe it would be a terrible path for the U.S. if that were allowed to happen.' Sharing a “primer” on the subject written by Paradigm, Armstrong stressed that staking is not a security. “Staking is a really important innovation in crypto,” the Coinbase CEO said. “It allows users to participate directly in running open crypto networks. Staking brings many positive improvements to the space, including scalability, increased security, and reduced carbon footprints.” Armstrong argued that new technologies need to be fostered, not stifled, in the U.S. and that it is important for the country to have clear rules for financial services and Web3 industri... read More

Charlie Munger Urges US Government to Ban Crypto Like China Has Done

    Warren Buffett's right-hand man and the vice chairman of Berkshire Hathaway, Charlie Munger, has urged the U.S. government to ban cryptocurrencies like China has done. 'A cryptocurrency is not a currency, not a commodity, and not a security. Instead, it's a gambling contract with a nearly 100% edge for the house,' he stressed.Berkshire Vice Chair Charlie Munger Wants Cryptocurrencies Banned Berkshire Hathaway Vice Chairman Charlie Munger has urged the U.S. government to ban crypto in an opinion piece titled 'Why America Should Ban Crypto,' published by the Wall Street Journal Wednesday. The Berkshire executive wrote: A cryptocurrency is not a currency, not a commodity, and not a security. Instead, it's a gambling contract with a nearly 100% edge for the house, entered into in a country where gambling contracts are traditionally regulated only by states that compete in laxity. 'Obviously the U.S. should now enact a new federal law that prevents this from happening,' Munger stressed. The Berkshire vice chair proceeded to reference two precedents that may provide insight into how to ban cryptocurrency effectively. The first is China's crypto ban, he said, adding that the Chinese government 'wisely concluded that they [cryptocurrencies] would provide more harm than benefit.' The second is that from the 1700s, England faced a severe depression after a speculative trading scheme failed. In response, the country banned public trading in new common stocks for 100 years, Munger explai... read More

Billionaire Investor Charlie Munger Reiterates US Should Ban Bitcoin

    Charlie Munger, the Vice Chairman of Berkshire Hathaway and Warren Buffett's right-hand man, reiterated his stance against Bitcoin and the entire crypto industry. This time, the American billionaire investor urged the United States government to ban all cryptocurrencies as they are bound to cause more harm than good. Munger Attacks Again In an opinion published on mainstream media, the Wall Street Journal (WSJ), Munger argued that unvetted private companies are issuing thousands of cryptocurrencies, citing the gap in crypto regulation in the U.S. as a reason for that. These digital assets have become publicly traded without governmental pre-approval of disclosures and pose a risk to the country's economic health. The billionaire investor likened such a level of capitalism to a remark attributed to renowned American writer Mark Twain: 'A mine is a hole in the ground with a liar on top.' While blaming the government's lack of regulation, Munger argued that such digital assets were neither currencies nor commodities and securities. He classified cryptocurrencies as gambling contracts in a country where they are traditionally regulated by 'states that compete in laxity.' The Berkshire vice-chairman insisted that the U.S. enact a new federal law to ban cryptocurrencies and prevent such incidents from continuing. An Example of 'Uncommon Sense' To support his point, Munger cited two precedents. The first was the case where China's communist government recently banned cryptocurrencie... read More

Chinese Economist Urges Government to Reconsider Crypto Ban — Warn...

    An economics professor and former adviser to the People's Bank of China has urged the Chinese government to reconsider its ban on cryptocurrencies. He warned that banning crypto activities could result in missed opportunities that are 'very valuable' to regulated financial systems.Chinese Economist Warns of Missed Opportunities Due to Crypto Ban A former adviser to the Chinese central bank, the People's Bank of China (PBOC), has called on the Chinese government to reevaluate its cryptocurrency ban, the South China Morning Post reported Monday. Huang Yiping served as a member of the Monetary Policy Committee at the People's Bank of China between 2015 and 2018. He is currently a professor of finance and economics at Peking University's National School of Development. While acknowledging that a cryptocurrency ban may be practical for China for the time being, the former central bank adviser stressed that the government should consider whether such policies will be sustainable in the long run. He cautioned that a permanent ban on crypto-related products could result in missed opportunities in technologies like blockchain, which are 'very valuable' to regulated financial systems. In September 2021, the Chinese government declared all crypto activities illegal, claiming that crypto disrupted the country's economic and financial order while providing a breeding ground for criminal activity. Despite the ongoing crackdown by the Chinese government, a significant number of cryptocurren... read More

Ban on Crypto Mining in Residential Areas Proposed in Russia

    Advisors to the Kremlin have suggested that home crypto mining should be banned in Russia, or in some of its regions. The stated motive for the proposal is to prevent fires in residential buildings. Amateur miners have been blamed for high loads on the grid causing breakdowns and blackouts. Energy Experts Want to Prohibit Mining Cryptocurrency in Russian Homes The Energy Committee of the State Council, an advisory body to the Russian president, has recommended imposing a ban on the minting of digital currencies in residential areas. Its members believe the measure will reduce fire hazards, local media reported. The idea is to completely prohibit the production of cryptocurrencies in apartment blocks and houses in the country, or at least in parts of Russia experiencing energy deficits. Among them are Moscow and the Moscow Oblast, the region adjacent to the Russian capital. The crypto-related activity, which is a source of additional income for many ordinary Russians, especially in places with access to cheap electricity, is not regulated yet. A bill tailored to do that is currently under review in the State Duma, the lower house of Russian parliament. The energy experts also suggested that the federal government should grant regional authorities powers to impose additional taxes on cryptocurrency mining, the daily Izvestia revealed in a report, quoting the minutes from a meeting of the committee held in mid-December. Anton Tkachev, member of the State Duma Committee on Infor... read More

Binance Banking Partner to Ban Crypto Trading Transfers Under $100K

    Clients of one of the banks facilitating fiat operations with Binance will not be able to trade crypto through SWIFT transfers of less than $100,000. The transaction minimum, aimed at reducing exposure to digital assets, will be introduced by the financial institution in February.Bank Working With Binance Sets $100,000 Transaction Minimum for Crypto Traders A bank serving some clients of the world’s largest cryptocurrency exchange, Binance, will only process customer transactions exceeding $100,000, starting from the first day of February. The new minimum will be imposed as part of the lender’s decision to limit its exposure to digital-asset markets. “One of our fiat banking partners, Signature Bank, has advised that it will no longer support any of its crypto exchange customers with buying and selling amounts of less than $100,000 as of February 1, 2023. This is the case for all of their crypto exchange clients,” Binance said in a statement shared with Bloomberg on Saturday, elaborating: As a result, some individual users may not be able to use SWIFT bank transfers to buy or sell crypto with/for USD for amounts less than 100,000 USD. The measure concerns retail traders with accounts serviced by Signature and the exchange assured customers it’s actively seeking a new partner for SWIFT transfers in U.S. dollars. SWIFT is the most widely used global system for interbank transfers. Only 0.01% of Binance’s monthly users are serviced by Signatur... read More

Japanese Regulators May Reverse Ban on Foreign Stablecoins: Report

    Japan became one of the first big countries to establish a legal framework for stablecoins in June. Six months later, it is taking yet another crucial step to tweak the existing ban as the Financial Services Agency (FSA) is looking to lift the ban on foreign-issued stablecoins. It is still unclear which tokens will be made available. However, Circle and Coinbase-backed USDC and Tether's USDT are expected to make a comeback. As per the report by the local news agency Nikkei, the new stablecoin regulation is likely to be introduced in 2023. Japan's Easing Stance on Stablecoins Under the new rules, distributors will be tasked with handling the stablecoins instead of the foreign issuers to protect their value. The digital asset exchanges in the country will be able to handle stablecoin trading under the condition of asset preservation by deposits and an upper limit of remittance. The FSA has proposed a maximum amount of remittances for such stablecoins to be capped at 1 million yen (or $7,500 per transaction). For domestically minted stablecoins, on the other hand, the issuer will be required to prepare assets as collateral. Moreover, only banks, fund transfer service providers, and trust companies can be issuers in the Japanese stablecoin market. The FSA will mandate stablecoin distributors to record transaction details such as user names as part of anti-money laundering (AML) measures. The financial regulator also plans to start collecting feedback on proposals for its draft gu... read More

Russia to Ban Banks From Using Messengers Like Telegram to Contact Custo...

    Financial institutions in Russia will not be able to communicate with clients through instant messengers based outside the country, local media revealed. A new law passed by the State Duma also prohibits banks from using chats to send personal data and payment documents.Bill Restricts Russian Banks and Brokers From Sending Sensitive Information Through Foreign Messengers Banks in the Russian Federation will not be allowed to contact their customers on a number of popular messengers, according to new legislation approved by the lower house of parliament. The ban applies to foreign-based platforms. A list of the affected apps is yet to be published by Roskomnadzor, the Federal Service for Supervision of Communications, Information Technology and Mass Media, but Telegram, Whatsapp, Viber, and the like fit the description, the business daily Kommersant reported. The draft law, passed by the State Duma in the third reading, also restricts the use of this type of messaging service for correspondence containing sensitive information like personal data or documents related to payments and money transfers. The restrictions concern not only banks but all other financial organizations as well, including brokers, companies operating in the securities market, management firms, investment funds, and private pension funds and depositories, the article details. Digital Development Ministry to Oversee the Implementation of the New Restrictions According to Anatoly Aksakov, head of the parlia... read More

The United States Might Need to Ban Crypto, Says Banking Committee Chief

    U.S. Senator and chairman of the Senate Banking Committee, Sherrod Brown (D-OH), spoke on Sunday about what actions regulators need to take after the implosion of FTX.  He suggested that crypto may be something that “ought to be banned” if not for the risk of sending the industry offshore.  Banning Crypto Speaking with NBC’s Chuck Todd on Meet the Press, Brown agreed that Sam Bankman-Fried – FTX’s former and disgraced boss – used political favor and donations to create an illusion of credibility around himself, presenting a flaw within the current political system.  However, he claimed the FTX collapse represents just one large part of the dangers of crypto, which includes Ponzi schemes, poor consumer protections, and national security threats. Among those threats are “Korean cybercriminals,” “drug trafficking,” “human trafficking,” and terrorist financing.  Brown said he’d already asked the secretary of the Treasury to conduct a government-wide assessment of crypto involving various regulatory agencies. He noted that the Securities and Exchange Commission (SEC) has been particularly aggressive, but that legislative action may also be necessary.  “I’ve spent much of the last year and a half in this job… trying to educate the public about crypto and the dangers that it presents to our security as a nation, and to consumers that get hoodwinked by it,” ... read More

Canadian Securities Regulators Ban Crypto Margin Trading

    With FTX’s collapse spurring global regulators into action against the crypto industry, the Canadian Securities Administrators (CSA) are no exception. On Monday, the association announced an expanded ruleset pertaining to crypto trading platforms in Canada, which would bar them from offering margin or leverage trading to Canadian clients.  No More Leverage As announced by the regulator on Wednesday, its new rules will apply to any platform within the country subject to securities legislation, including crypto trading platforms that are yet to register.  Unregistered platforms will soon be given a deadline by which they must submit a pre-registration undertaking (PRU) to its principal regulator, in which it promises to comply with the requirements expected of already registered entities. If they don’t, they may face enforcement action.  The expanded terms for compliant platforms include requirements to keep Canadian clients’ assets held with an “appropriate custodian,” and to segregate those assets from the company’s proprietary business. They also prohibit  “offering margin or leverage for any Canadian client.” “Custodians will generally be considered qualified if they are regulated by a financial regulator in Canada, the U.S., or a similar jurisdiction with a supervisory regime for conduct and financial regulation,” read the regulator’s statement.  Though the regulator did not mention ... read More

Full Ban on Crypto in Russia Would Be Counterproductive, Rosfinmonitorin...

    Russian citizens and businesses already own cryptocurrencies, which is why a complete crypto ban would be counterproductive, according to a top executive of Rosfinmonitoring, Russia’s financial intelligence agency. At the same time, the regulator supports prohibiting payments with digital coins and their advertising.Rosfinmonitoring Backs Government’s Strategy to Strictly Regulate Cryptocurrencies in Russia The Federal Financial Monitoring Service of the Russian Federation (Rosfinmonitoring) supports the adoption of strict rules for cryptocurrencies, as per the regulatory concept approved by the government, the agency’s Deputy Director Herman Neglyad said in an interview with Izvestia. However, the official also indicated to the Russian daily that a full ban is unlikely, elaborating: We understand that citizens and legal entities already own digital currency and in such conditions, it would be counterproductive to introduce a complete ban on the circulation of cryptocurrencies. Neglyad explained that Russia’s financial watchdog favors proposals to prohibit settlements in cryptocurrencies and their advertising, as envisaged in a bill submitted to the lower house of Russian parliament in November. It also recognizes the need to raise awareness about the nature of cryptocurrency as a high-risk asset. “We believe that virtual assets or digital currencies should be legally equated to property, which entails their recognition as the subject of crimes,&... read More

Elon Musk Lifts Twitter Ban On Dogecoin Accounts; DOGE Pumps 7% – ...

    Amidst all of the hustle and bustle surrounding the reorganization of Twitter and the revelations of the 'Twitter Files,' Elon Musk took the time a few hours ago to fix a pressing problem for the Dogecoin community. In recent days, Musk had declared war on the spam bots on Twitter. In doing so, the algorithm and the Twitter team may have been a bit too harsh. Musk Stands By For The DOGE Community Dogecoin founder Billy Markus wrote on Twitter that more than a dozen Dogecoin Twitter accounts were suspended last weekend, even though they were mainly just tweeting DOGE memes. Markus wrote that these accounts were unjustly suspended: A whole bunch of accounts of people who, as far as I know, generally don't do anything but tweet memes and positivity are being suspended. Pretty weird man. Twitter CEO Elon Musk, who through a representative is part of the Dogecoin Foundation's five-member advisory team alongside Markus and Vitalik Buterin, responded to the tweet within three hours. Musk wrote that his Twitter team had been a bit too aggressive with the suspension of spam bot accounts. 'Team was a bit too intense with spam/bot suspensions. Moving to chill mode,' Musk replied. Dogecoin founder Markus then confirmed that the accounts have been reactivated 'Welcome back Doge accounts. ty @elonmusk,' Markus added. welcome back doge accounts ty @elonmusk — Shibetoshi Nakamoto (@BillyM2k) December 5, 2022 Remarkably, this wasn't the only incident where Elon Musk showed his love ... read More

NY Attorney General Urges Congress to Ban Crypto in Retirement Accounts

    New York Attorney General Letitia James has urged Congress to pass a law prohibiting crypto investments in retirement accounts. 'Hardworking Americans should not have to worry about their retirement savings being wiped out due to risky bets on unstable assets like cryptocurrencies,' she stressed.NYAG Letitia James Urges Congress to Prohibit Crypto Investments in Retirement Accounts New York Attorney General Letitia James announced Tuesday that she has 'urged congressional leaders to adopt legislation that would prohibit investing retirement funds in digital assets, such as cryptocurrencies, digital coins, and digital tokens.' In the letter she sent to Sen. Ron Wyden (D-OR), Sen. Mike Crapo (R-ID), Rep. Richard Neal (D-MA), and Rep. Kevin Brady (R-TX) Tuesday, James wrote: On behalf of the people of the state of New York, I urge Congress to pass legislation to designate digital assets — e.g., cryptocurrencies, digital coins, and digital tokens — as assets that cannot be purchased using funds in Individual Retirement Accounts (IRAs) and defined contribution plans, such as 401(k) and 457 plans. James provided a few reasons why cryptocurrencies are too risky to be allowed in retirement plans. In addition to having no intrinsic value, she said they are extremely volatile and 'often an instrument for fraud and crime.' The attorney general also referenced the terra crash and FTX meltdown, both of which were followed by crypto market sell-offs. Crypto exchange FTX filed f... read More

Amendments to Russia's Digital Asset Law Aim to Allow Mining, Ban Crypto...

    Russian lawmakers have proposed changes to the current law “On Digital Financial Assets” in order to regulate crypto mining while banning the circulation of cryptocurrencies in the country. The legislation also prohibits the non-targeted advertising of crypto-related products and services.New Attempt to Legalize Cryptocurrency Mining in Russia After months of deliberations, efforts continue in Moscow to establish a more comprehensive regulatory framework for cryptocurrencies. The latest initiative in that direction comes from a group of high-profile deputies from the lower house of parliament, the State Duma, including the head of the Financial Market Committee, Anatoly Aksakov. The lawmakers have filed a bill amending the law “On Digital Financial Assets,” in force since January of 2021. The draft is meant to regulate the extraction of cryptocurrencies as well as the taxation of the generated income. It permits the sale of the minted coins “without using Russian information infrastructure” or through authorized entities operating “within experimental legal regimes.” The document introduces a detailed definition of crypto mining which makes reference to the use of computing equipment and distributed ledger technology. It also describes mining pools and obliges miners to share information with the state in accordance with the tax legislation of the Russian Federation. Under the proposed provisions, crypto mining activities will b... read More

Coin Center Sues US Treasury Over Tornado Cash Ban — Lawsuit Says ...

    The non-profit that focuses on policy issues facing cryptocurrencies, Coin Center, has filed a lawsuit against the Treasury department, the secretary of the Treasury Janet Yellen, and the Office of Foreign Assets Control's (OFAC) director Andrea Gacki. Coin Center's court filing says that the government's sanctioning of Tornado Cash exceeds the Treasury's statutory authority. The Coin Center lawsuit insists that Americans have a right to privacy and a right to protect their property, as Tornado Cash can be used for these benefits in a legitimate fashion.Coin Center's Lawsuit Insists the US Treasury and OFAC Banning Tornado Cash Exceeded Their Statutory Authority Coin Center is following Coinbase's lead as it has sued the U.S. Treasury over the Tornado Cash ban, according to a court filing registered on October 12. Coinbase announced its lawsuit against the government's department on September 8, 2022, in a blog post called 'Defending Privacy in Crypto.' The non-profit Coin Center, an organization that specializes in addressing policy toward cryptocurrencies and blockchain tech, hinted at engaging with the Treasury on August 15. The blog post published in mid-August said that by the U.S. Treasury treating autonomous code as a 'person,' 'OFAC exceeds its statutory authority.' The lawsuit filed on Wednesday names OFAC director Andrea Gacki, and the current secretary of the Treasury Janet Yellen. The suit highlights that the Treasury's 'defiance of this statutory element assumes ... read More

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