US House panel to review crypto’s environmental impact
A United States House Energy and Commerce subcommittee is all set to investigate the environmental impact of cryptocurrencies tomorrow. This is a significant move as the US Congress begins to pay more attention to cryptos and related policies. Environmental activists have been trying to draw attention to the high emissions from Bitcoin mining and electricity consumption for a while now.
Crypto prices today: Bitcoin Falls 1.7%, ETH Down 4%
Bitcoin is currently trading at $41,393, a 1.7% decline over the previous day. Ethereum fell 3.9% over the last 24 hours to $3,067. Solana fell 3.2% to $135, while Cardano has fallen heavily by 11.5% to $1.38. Polygon (MATIC) has slumped 8% to $2.03. The global crypto market cap stands at $1.96 trillion, a 2.51% decline over the previous day.
Intel to reveal ‘energy-efficient’ Bitcoin mining chip
Technology giant Intel is set to enter the Bitcoin mining business, with the reveal of a new Bitcoin mining “Bonanza Mine” chip at the International Solid-State Circuits Conference in February. The Bonanza Mine chip is described as an “ultra-low-voltage and energy-efficient Bitcoin mining hardware (ASIC)”.
AMC rewards 580K shareholders with free NFTs
AMC has deployed exclusive “I Own AMC” NFTs to more than 580,000 shareholders who registered via AMC’s Investor Connect portal by the December 31 deadline. The NFTs were minted on WAX, a platform designed for high-volume applications such as large NFT drops and video games. Last year, the movie later chain had revealed plans to begin accepting crypto payment via Bitcoin, Ethereum, Litecoin, and Dogecoin.
India’s crypto sector likely to update code of conduct
Indian cryptocurrency exchanges are weighing updates to their self-regulatory code of conduct to avoid run-ins with regulators. The move comes amid heightened scrutiny of the sector from regulatory bodies, including the Income Tax department and the Enforcement Directorate. As per an ET report, leading crypto exchanges such as WazirX, CoinDCX, CoinSwitch Kuber, and other members of the Blockchain and Crypto Assets Council (BACC) are working to update the ‘Code of Conduct (COC)’.
Crypto ATMs offline as Singapore seeks to regulate impulse trading
Cryptocurrency automatic teller machines (ATMs) in Singapore are being taken offline as its central bank limits consumer advertising of crypto. Crypto ATMs enable users to trade digital payment tokens (DPT) like Bitcoin and Ether with fiat money or government-issued currency. The Monetary Authority of Singapore (MAS) has stated that such convenient access may mislead the public to trade “on impulse”.
