White House calls for crypto mining standards
The White House Office of Science and Technology Policy called for the U.S. to conduct further research on the energy impact of crypto mining in order to set standards for the industry. Crypto mining, particularly Bitcoin (BTC) mining, uses a lot of electricity, which undermines U.S. sustainability goals. The Biden administration also wants energy regulators and grid operators to ensure that crypto mining does not drive up prices for consumers.
Crypto prices today: Bitcoin up 7.3%, ETH rises 5%
Bitcoin is currently trading at $20,647.08, an increase of 7.25% over the previous day. Ethereum is up 4.9% over the last 24 hours to $1,708.37. Solana rose 8.6% to $35.26, while Cardano is trading higher by 3.6% at $0.493. Polygon (MATIC) rose 5% to $0.879. The global crypto market cap stands at $1.03 trillion, a 5.14% increase over the previous day.
Florida man pleads guilty to stealing $100 million in crypto Ponzi scheme
The U.S. Department of Justice said a Florida man pleaded guilty in federal district court to participating in a crypto-based Ponzi scheme that defrauded investors of approx. $100 million. Joshua David Nicholas acted for nearly two years as the so-called “head trader” of EmpiresX, a crypto investment platform that promised investors daily profits of 1%.
Queen Elizabeth II ETH NFT tribute project holds final auction
QueenE, an Ethereum-based NFT project, is holding its final Gen1 artwork auction following the death of England’s Queen Elizabeth II. The project launched in July 2022 and has released 73 total pieces of artwork. It was designed to launch new procedurally generated pieces at a steady clip for the rest of the Queen’s life.
Crypto intermediaries should register with US SEC: SEC Chair
Companies that help facilitate transactions in the crypto market should register with the U.S. Securities and Exchange Commission (SEC) just like other market intermediaries, said the agency’s chair Gary Gensler. He said intermediaries in the crypto market provide a range of functions regulated by the SEC, including operating as an exchange, broker-dealer, clearing agent, and custodian.
“Of the nearly 10,000 tokens in the crypto market, I believe the vast majority are securities,” he said.
