Crypto News, March 8: Is U.S. Clampdown Imminent?
Crypto News

Crypto News, March 8: Is U.S. Clampdown Imminent?

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8 months ago

Also today, an awkward Twitter row breaks out, a crypto influencer denies pump-and-dump allegations, and Binance unveils its fiat-to-crypto payments platform.

Crypto News, March 8: Is U.S. Clampdown Imminent?

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Biden executive order on crypto looms 🇺🇸

Joe Biden is set to sign an executive order on crypto regulations within days. The president is planning to ask four government departments to scrutinize digital assets, and recommend how they should be regulated. They'll also be tasked with determining whether the U.S. should push ahead with the creation of a digital dollar. In other developments, the European Parliament's Economics Committee is set to vote on a crypto regulation bill next week. It's hoped that the Markets in Cryptoassets Directive — otherwise known as MiCA for short — will ensure that EU regulations are "friendly" toward innovation and do not pose "obstacles to the application of new technologies."

Binance launches fiat-to-crypto payments platform 🚀

Binance has announced that it is launching its own fiat-to-crypto payments platform that is designed to "connect businesses, merchants and millions of users to the world of crypto and blockchain."  The new service — known as Bifinity — aims to help companies get "crypto ready," putting them in a position where they will be able to accept digital assets as a payment method. More than 50 cryptocurrencies are being supported by this new payments provider — alongside major, more traditional networks offered by the likes of Visa and Mastercard.

Crypto Banter rejects allegations 👀

A crypto influencer has been accused of dumping an altcoin while promoting it to his audience. Ran NeuNer — the founder of Crypto Banter — has dismissed the allegations as "FUD." A YouTube video posted by Crypto Exposed claimed that NeuNer sold Alien Worlds tokens on the same day he performed a live interview with one of the project's team members. In a 30-minute video uploaded to the Crypto Banter page, NeuNer acknowledged that a mistake was made. However, he said that this represented 1% of his platform's holding in TLM, and it was used to finance other investments.

Awkward Twitter row breaks out 😬

An awkward row has broken out between Cardano founder Charles Hoskinson and journalist Laura Shin. She has just released a new book that documents the early days of crypto, and talks about Hoskinson's involvement. Hoskinson recently described her book as a "great work of fiction," but she replied in a brutal fashion, writing: "Hi Charles, speaking of fiction, do you want to address the discrepancies between your claims of dropping out of a PhD program and the schools' assertions that you were enrolled as an undergrad?" Ouch.

Were crypto Super Bowl ads worth it? 🧐

The barrage of cryptocurrency adverts at the Super Bowl raised awareness about digital assets — but didn't necessarily make American consumers more likely to buy them, according to new research. Consumers who watched adverts during the NFL game were asked to name which crypto brands they remembered seeing. Crypto.com came out on top, with 34% of those polled saying they remembered its commercial with LeBron James. Coinbase lagged behind on 25%, with FTX on 21%. Overall, Crypto.com and FTX saw the biggest increases in brand recognition, but The Harris Poll says there's been little change in the number of people who say they are possibly or absolutely likely to use these brands in the future.

Illegal mining rig busted in China 🚨

An illegal mining operation has been busted in the Chinese city of Guangzhou — with 190 professional rigs worth $800,000 seized by police. According to local media, the machines were hidden in a charging station for electric vehicles — all in the hope of evading detection because of the high amounts of power already being used. The mining rigs were hidden behind a fence and a locked door, and had reportedly consumed more than 90,000kWh of electricity.

Binance announces SHIB giveaway 💰

Binance has announced that it is giving away $100,000 in SHIB to new users on a first-come-first-served basis. According to the crypto exchange, a welcome bonus of anywhere between 100,000 SHIB ($2.59) and 308,000 SHIB ($7.98) will be available. An additional promotion is available for those who accumulate a trading volume of at least $1,000 on eligible SHIB trading pairs — and those who meet this requirement will share $20,000 in SHIB token vouchers.

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