Decentralized Exchange ZkLink Raises $8.5M Ahead of Market Launch

Decentralized exchange (DEX) ZkLink has closed a $8.5 million funding round led by Republic Crypto to help ramp up for its market launch later this year.ZkLink aims to become the first multi-chain DEX to enable one-click, cross-chain transfers across both Ethereum Virtual Machine (EVM) and non-EVM-compatible chains.At launch, the first layer 1 chains to be supported will include Ethereum, Binance Smart Chain, Huobi Eco Chain and Polygon.The cross-chain questDEXs can be difficult for beginner users to navigate.

Republic Closes $150M Series B Funding Round

The investment firm, which includes a crypto arm, follows up a $36 million Series A round in March.

Court Ruling Threatens 17 Crypto Exchanges in Russia

Another batch of Russian online crypto exchanges in Russia face closure following a recent decision by a regional court.

Relocated Chinese miners in Kyrgyzstan will now pay more for electricity

After China banned mining in the country earlier this year, the Kyrgyz Republic had become one of the hotspots for the mining pools. The Kyrgyzstan government, however, recently issued a notice to The post Relocated Chinese miners in Kyrgyzstan will now pay more for electricity appeared first on AMBCrypto.

Iran to allow resumption of Bitcoin mining operations after ban

The Islamic Republic of Iran has always been a "hotspot" for Bitcoin miners across the globe.

China's crypto holdouts: Bitcoin nodes and OTC desks struggle on

There are still a handful of Bitcoin nodes hanging on in China and OTC trading remains viable, but it may not be for long. Despite Beijing’s ever-increasing crackdown on the crypto industry, there are still some signs of life in the People’s Republic regarding the Bitcoin network and OTC trading.China intensified its clampdown on crypto last week in an effort to suppress any remaining activity related to digital assets within its borders.

Tehran Stock Exchange CEO resigns following discovery of Bitcoin miners in basement

Iranian authorities have conducted many raids on crypto miners in abandoned factories, homes, and small businesses — nothing quite as high profile as the country's largest stock exchange. Ali Sahraee, the chief executive officer of the Tehran Stock Exchange since 2018, has reportedly resigned after the discovery of cryptocurrency mining rigs in the building.According to a report from the country’s state-run media, the Islamic Republic News Agency, Tehran Stock Exchange, or TSE, market vice president Mahmoud Goudarzi will be leading the company following the departure of Sahraee.

Intensified Crypto Ban Forces Huobi to Stop Accepting New Users From Mainland China

Following the Republic of China's latest attack on crypto, Huobi said it will no longer allow new registration of Chinese users on its platform. 

SEC Denies Freedom of Information Act Request Concerning Tether Documents

On September 24, the staff writer for The New Republic, Jacob Silverman, tweeted about a Freedom of Information Act (FOIA) request he filed that was ultimately denied.

Abkhazia Seizes 6,000 Mining Devices but Fails to Disrupt Crypto Mining

Authorities in Abkhazia have confiscated thousands of mining machines, closing down all large crypto farms, yet they have admittedly failed to put an end to illegal mining operations.

US Treasury Dept sanctions crypto OTC broker Suex for alleged role in facilitating transactions for ransomware attacks

The government agency hinted at possible additional sanctions for "financial institutions, cyber insurance firms, and companies involved in digital forensics and incident response" that facilitated ransomware payments. The United States Department of the Treasury has announced it will impose sanctions on Czech Republic and Russia-based business Suex OTC for allegedly allowing hackers to access cryptocurrency sent as payment for ransomware attacks.In a Sept.

Turkish central bank taps local tech firms for digital currency R&D

The Central Bank of the Republic of Turkey has singed agreements with various firms to form the Digital Turkish Lira Collaboration Platform. The Central Bank of the Republic of Turkey (CBRT) has made a major step forward with a research and development project that could see the Turkish lira go digital.On Sept.

Uzbekistan has no plans to ease crypto payments ban, says official

One official said that after banning crypto payments in late 2019, Uzbekistan won’t ever reconsider its decision. The Republic of Uzbekistan will never adopt cryptocurrencies like Bitcoin (BTC) as a payment method, according to a central bank official.Behzod Khamraev, deputy chairman of the Central Bank of Uzbekistan (CBU), predicted that local authorities will never allow residents to use Bitcoin as payment, alleging that BTC is backed by nothing.In an interview with local business publication Spot.uz, Khamraev argued that Bitcoin is widely considered “speculative” and will never become equal to fiat currencies like the United States dollar, the euro, the Japanese yen or the Russian ruble.The official pointed out that there are about 28 trillion Uzbekistani soms in circulation, and all of those are backed by the central bank’s assets.“One can even see an inscription about the regulator’s obligations on the banknotes, while cryptocurrency is not backed by anything,” Khamraev added.

Russian Police Arrest 2 Women, High-Ranking Members of Finiko Crypto Pyramid

Law enforcement in the Russian republic of Tatarstan have made new arrests in connection with the crypto Ponzi scheme Finiko.

Report Says Western Union Could Lose $400M if El Salvador’s Chivo Bitcoin Wallet Gains Traction, Tim Berners-Lee Weighs In

The Republic of El Salvador has made many headlines this week as the country adopted bitcoin as legal tender on Tuesday and became the first-known nation-state to purchase the leading crypto asset.

Republic of Panama introduces bill for regulating crypto

New bill in Panama aims to recognize Bitcoin as an alternative payment method and enable freedom to use crypto. Amid Bitcoin (BTC) becoming legal tender in El Salvador, another country in Central America is progressing on its way to enable freedom to use cryptocurrencies like BTC and Ether (ETH).On Sept.

Australia, Singapore, Malaysia, and South Africa to Trial Cross-Border Digital Currency Payments

The central banks of Australia, Singapore, Malaysia, and the Republic of South Africa have set out to test the use of state-issued digital currencies in cross-border payments.

Canadian regulator alleges OKEx operator violated securities law

The commission has made similar allegations against Bybit, crypto exchange KuCoin and Polo Digital Assets. The Ontario Securities Commission claimed Aux Cayes FinTech Company Limited, a legal entity in the Republic of Seychelles that operates crypto exchange OKEx, has failed to comply with the province’s law governing securities.In an Aug.

Humanode Enters Republic Crypto

[PRESS RELEASE – San Francisco, California August 2021] HUMANODE, the world’s first Blockchain project to utilize a consensus mechanism based on crypto-biometric identification, in order to realize their goal of one human = one node = one vote to overcome various known issues in modern-day crypto-economics and governance, has announced their strategic partnership with Republic.co.

Crypto Companies Establish Presence, Hire Talent in Ireland

With a friendly attitude towards financial innovation, the Republic of Ireland has become a desired destination for fintech businesses that need unimpeded access to the common European market.

San Marino approves VeChain eNFT vaccination certificate that's verifiable worldwide

San Marino has approved VeChain’s eNFT backed vaccination passport, dubbed the San Marino Digital Covid Certificate. The Republic of San Marino has approved VeChain’s NFT-based vaccination passport, which is reportedly verifiable worldwide.

VeChain Announces The World’s First National eNFT Adoption, Why It Could Be Huge for VET

The VeChain Foundation and DNV Assurance have partnered with the Republic of San Marino to issue Digital COVID-19 vaccination certificates.

With crypto mining banned in Iran, local authorities seize 7K rigs

The police chief of Tehran said authorities had raided 50 locations across the Iranian capital in the last 48 hours, discovering 3,000 illegally operating crypto miners. Iranian provincial police are continuing their crackdown on crypto miners big and small, with news surfacing that they have confiscated more than 7,000 rigs at a farm operating in the capital of Tehran.According to a Tuesday report from the country’s state-run media, the Islamic Republic News Agency (IRNA), police seized crypto miners that were operating out of an abandoned factory.

Iran government reportedly bans local blockchain association

A crypto warning list is the main cause of the ban, according to the head of the Iran Blockchain Community. The Ministry of Interior of the Islamic Republic of Iran has blocked the activities of the Iran Blockchain Community (IBC), but the association claims they still haven’t received direct notice.The Social Affairs Organization of the Ministry required reports on IBC’s financial performance and dealings with cryptocurrency exchanges via a notice posted in local newspaper Hamshahri Online last week, according to local sources.

Tehran Government Bans Iran Blockchain Association

The Ministry of Interior of the Islamic Republic has suspended the Iran Blockchain Association (IBA).

Digital land in Decentraland sells for $913K... to a virtual property developer

A virtual real estate investment firm has a new platform record for the most expensive digital land plot in Decentraland’s metaverse after spending $913,000 on 259 parcels. A virtual plot of real estate situated within the Ethereum-based open-world game, Decentraland, has sold for more than $913,000 — valuing the intangible property on par with the average price of a real world house in Brooklyn, New York.Virtual real estate is sold in the form of nonfungible tokens (NFTs) dubbed LAND in Decentraland, with the digital plot being sold to virtual real estate-focussed investment firm, Republic Realm.

NFT Real Estate in Ethereum Metaverse Sells for Record $913K

Republic Realm sets a new all-time high-value LAND sale for Ethereum-based open world crypto metaverse game Decentraland.

Abkhazia Shuts Down 8 Crypto Farms Amid Ongoing Crackdown on Mining

Authorities in Abkhazia, the partially recognized South Caucasus republic, have discovered and closed down eight crypto mining farms in just two weeks.

Cuba’s Central Bank Suspends US Dollar Deposits Nationwide – Officials Cite Embargo ‘Obstacles’

The Republic of Cuba is suspending the use of US dollars due to embargo restrictions with US and foreign banks.

Religious Ban on Cryptocurrencies Provokes Social Media Reproach in Ingushetia

A decision by a prominent religious body in Ingushetia to prohibit dealings with cryptocurrency has sparked controversy in the predominantly Muslim Russian republic.

Crypto-Friendly Investing App Trade Republic Raises $900 Million

Berlin-based fintech firm Trade Republic is now valued at $5.3 billion after raising $900 million in a Series C round led by Sequoia Capital.

One of Africa’s Oldest Wildlife Conservancies Accepts Crypto Donations

One of Africa’s biggest wildlife conservancies, the Virunga National Park, which is situated in the Democratic Republic of Congo (DRC), says it now accepts donations via cryptocurrency.

Iran Warns Crypto Investors Amid Ban on Bitcoin Mined Outside Its Borders

The Central Bank of Iran has issued a warning against unrestrained crypto trading and reminded investors that only cryptocurrencies minted by licensed miners in the Islamic Republic can be used under limited circumstances.

Georgia's central bank is exploring 'Digital Gel' CBDC

The Republic of Georgia's central bank has invited fintech firms and others to participate in the CBDC project. The National Bank of Georgia said that it is considering launching a central bank digital currency. In an announcement today, the central bank hinted at the issuance of a central bank digital currency, or CBDC, in an effort “to enhance efficiencies of the domestic payment system and financial inclusion.” The National Bank of Georgia, or NBG, said it would be inviting fintech firms and other financial institutions to participate in the project, named Digital Gel after the symbol for the country’s fiat currency, the lari. “CBDC holds the promise to unlock the tremendous value of innovative business models for the benefit of society,” said the announcement.

A Year Later: Uzbekistan Plans to Lift its Cryptocurrency Ban

The former Soviet republic could perform a U-turn on trading and using cryptocurrencies and remove its recently-instituted ban.

Uzbek presidential agency proposes legalizing domestic crypto trading

Uzbekistan wants to lift its ban on cryptocurrency purchases after barring residents from buying crypto in 2019. A major governmental agency in Uzbekistan seems to be rethinking its stance on cryptocurrencies. The National Agency for Project Management under the President of the Republic of Uzbekistan, or NAFT, issued an official document proposing several amendments to licensing procedures for crypto trading. NAFT proposed to officially allow local residents to conduct “all types of crypto exchange trades involving crypto assets and tokens in exchange for the national currency and the foreign currency.” The authority stressed that crypto investors would trade and invest at their own risk. The proposal also aims to establish processes for the registration, issuance and circulation of digital assets, authorizing licensed crypto companies in Uzbekistan to issue their own tokens.

Crypto payments banned in Turkey — Is this just the beginning?

Turkey’s vibrant ecosystem took a hit from the new crypto payments ban, and industry participants speak out on potential implications. Buying something with Bitcoin (BTC) in Turkey will soon be illegal, and the topic of crypto payments has become a political debate since the Central Bank of the Republic of Turkey’s April 16 announcement that it will forbid the use of cryptocurrency as a payment method.

Turkey Bans Cryptocurrency Use for Payments as Local Currency Plunges

The Central bank of the Republic of Turkey has issued a cryptocurrency regulation prohibiting the use of cryptocurrencies for payments of goods and services.

Citi and IADB complete cross-border payment pilot with blockchain tech

IADB disbursed tokenized funds to a recipient in the Dominican Republic using the LACChain blockchain network. Banking giant Citigroup has successfully completed a proof-of-concept for blockchain-based cross-border payments in collaboration with the Inter-American Development Bank, or IADB. According to a Thursday announcement, Citigroup’s Citi Innovation Labs and the IADB enabled several disbursements from the United States to a recipient in the Dominican Republic, using the LACChain blockchain network — a proprietary effort by IADB’s regional program LACChain. As part of the project, the IADB deposited tokenized funds denominated in US dollars in a Citi account and transferred the funds using digital wallets, IADB’s blockchain specialist and LACChain technical leader Marcos Allende explained.

CERE Network Introduces Public Sale After Two Years In Development And 80x Oversubscribed Private Round

[PRESS RELEASE – Please Read Disclaimer] MARCH 31, 2021, San Francisco, CA – Cere Network (Cere), the first Decentralized Data Cloud (DDC) platform, today announced their public sale on April 8 on Republic, DAO Maker, and Polkastarter.

Ripple execs refute SEC investigation of personal finances as overreach

“How much they spend at the grocery store” isn't relevant to the SEC's ongoing XRP securities lawsuit, argues the legal team for Bradley Garlinghouse and Christian Larsen. Ripple executives Bradley Garlinghouse and Christian Larsen have rejected demands by the United States Securities and Exchange Commission to provide personal financial information as part of the ongoing investigation into a possible XRP sales securities violation. On March 11, lawyers for the Ripple Labs co-founders requested a protective order regarding their personal information and called for the court to quash subpoenas issued to six of the defendants’ banks. The banking institutions named specifically were SVB Financial Group, First Republic Bank, the Federal Reserve Bank of New York, Silver Lake Bank, Silvergate Bank and Citibank. Lawyers for Garlinghouse and Larsen argued that the SEC had overreached the proper breadth of its investigations when it asserted that the defendants had intermingled their personal finances with those of Ripple Labs.

Korean crypto exchange Bithumb toughens up its Anti-Money Laundering measures

The operator of South Korean cryptocurrency exchange Bithumb has placed restrictions on trading accounts registered in jurisdictions that are deemed to be too lax in curbing money laundering. South Korean cryptocurrency exchange Bithumb is toughening its approach to Anti-Money Laundering enforcement with a series of new measures that include trading restrictions, stronger Know Your Customer checks, and specialized blockchain intelligence solutions. The popular exchange, which has an estimated average of 1 million daily users and a daily transaction volume worth 5–7 billion ($4.4–6.2 million), had a troubled 2020 beset by police investigations over allegations of fraud.   After a series of reported negotiations with various firms for a potential acquisition, major gaming conglomerate Nexon denied it was planning to acquire Bithumb earlier this year. The Korean Herald today cites fresh rumors that JPMorgan and CME Group may now be considering a purchase of majority shares in the exchange. A local commentator cited by the Herald suggests that Bithumb's chairman, Lee Jeong-hoon, may be biding time until the exchange's corporate value “reaches 1 trillion won at least” — a figure similar to the reported value of another top Korean platform, Upbit. Bithumb's new, toughened Anti-Money Laundering regime includes placing restrictions on accounts registered in countries that are on the Financial Action Task Force's “increased monitoring” list for failing to implement measures to combat financial crime, as well as those labeled “high-risk jurisdictions.” Countries on the former list include Myanmar, Barbados, Iceland and 15 others, with the latter list limited to two: Iran and the Democratic People's Republic of Korea.

Belarus government explores potential move into crypto mining

The Ministry of Energy of the Republic of Belarus has launched an investigation into the potential pros and cons of crypto mining.

Kyrgyzstan central bank plans to introduce licenses for crypto exchanges

The central bank of the Kyrgyz Republic wants to provide crypto investors with the same level of protection that is already in place in traditional finance. The National Bank of the Kyrgyz Republic, or NBKR, is reportedly planning to introduce a licensing regime for cryptocurrency exchanges in a move to protect local investors. NBKR chairman Tolkunbek Abdygulov announced that the country’s central bank is planning to start regulating exchange operations involving cryptocurrencies like Bitcoin (BTC), local economic publication Tazabek reports Feb.

Anon-powered options: DeFi platform Premia goes live

An all-anon team is hoping to realize the long-awaited dream of a flexible DeFi options platform The Anon Powered development team has announced today the launch of Premia, the latest decentralized finance (DeFi) options platform live on Ethereum.  In an interview with Cointelegraph, the group of semi-anonymous developers behind Anon Powered — who collectively requested that they be referred to as “members of the Premia Republic,” the name for Premia’s forthcoming DAO — said that out of the gate users will be able to write, sell and exercise “American-style covered calls and puts,” which can be exercised prior to the option expiration date. Premia’s launch adds to an increasingly crowded DeFi options marketplace, joining projects such as Auctus, Hegic, and Opyn.

Kyrgyzstan's central bank opens up crypto draft laws to public discussion

The central bank of The Kyrgyz Republic has drafted regulations that recognize cryptocurrency exchanges in the country for the first time. Kyrgyzstan’s central bank has completed the drafting of two bills designed to recognize and regulate the country’s emerging crypto sector. According to an official announcement, the National Bank of the Kyrgyz Republic has opened up the two bills, "On the Processing of Cryptocurrencies" and "On amendments to legislative acts in the field of virtual assets," to public discussion. Interested parties have until Feb.

Kyrgyzstan Central Bank Is Set to Introduce Bills to Monitor Crypto Exchanges Activities and Forcing Them to Apply for Permits

The National Bank of the Kyrgyz Republic (NBKR) revealed its new-year plans for the national crypto industry.

US Government labels Virgil Griffith's argument to dismiss sanctions charges 'absurd'

Government lawyers implied that citizens could legally pass along nuclear secrets to North Korea if held to the same standards as Griffith. Lawyers representing the United States government have filed a legal memo opposing the dismissal of charges for Virgil Griffith, a former Ethereum Foundation researcher accused of conspiring to violate US sanctions against the Democratic People's Republic of Korea, or DPRK. According to court records filed Nov.

China’s President Urges World Leaders to Support Central Bank Digital Currencies

President of the People’s Republic of China, Xi Jinping, is urging G20 nations to support the emergence of central bank digital currencies (CBDCs).

China Construction Bank to sell bonds worth $3 Billion for Bitcoin

China Construction Bank Corporation which is one of the "big four" banks in the People's Republic of China is reportedly launching the sale of $3 billion worth of debt on a blockchain.

One of the world's top banks issues bonds that can be bought with Bitcoin

China Construction Bank has used blockchain technology to issue the first tranche of a planned $3 billion worth of debt. China Construction Bank has partnered with a Hong Kong-based fintech to issue the first-ever blockchain-based digital security issued by a Chinese financial institution. One of the "Big Four" banks in the People's Republic of China, CCB is ranked the second largest bank worldwide by total assets as of fall 2020. The megabank's plan with the new blockchain-based debt issuance is to raise up to $3 billion in total, starting with a tranche of $58 million, from individuals and institutions.

Argentinian Central Bank to Lift Freeze on Bank Fee Increases: Sets the Ceiling for Future Hikes at 9%

The Central Bank of the Argentine Republic says starting in January 2021, financial institutions will be able to increase the fees or commission they levy for services rendered.

New Siberian Bitcoin mining center set to provide 100 jobs to locals

13.6 acres of cold and barren land in Siberia will be put to good use with the support of international investors. The governor of the Republic of Buryatia, Russia signed a decree allowing for the construction of a 13.6 acre data center in Southeastern Siberia.

China's Vice President Wang Qishan: World Economy In Deep Recession, Finance Is The Core of Modern Economy

During Qishan Wang's speech, the Vice President of the People's Republic of China gave an overview of the world trend in economic development and finance.

China's central bank lays regulatory foundation for CBDC

The new draft law legitimizes digital yuan and may criminalize the issuance of yuan-backed stablecoins by third parties China’s central bank, the People’s Bank of China (PBOC), published a draft law this Friday that aims to provide regulatory framework and legitimacy for a forthcoming central bank digital currency (CBDC), the digital yuan.  The draft law states that the yuan is the official currency of the People's Republic of China whether in physical or digital form. The draft law also appears to take aim at third-party efforts at yuan-backed digital currencies, stating that individuals and institutions are prohibited from making and issuing a currency designed to “replace” digital yuan circulation.

Ethereum researcher Virgil Griffith files motion to dismiss North Korea conspiracy charge

Griffith argues that because his April 2019 conference presentation consisted of widely-available public information, he was not providing a "service" to North Korean officials Virgil Griffith, the former Ethereum Foundation researcher accused of conspiring to violate US sanctions against the Democratic People's Republic of Korea, filed a motion on Thursday to dismiss the charge against him on the grounds that prosecutors from the Southern District of New York have failed to properly state Griffith’s crime.  Griffith, 37, was arrested by FBI agents on Nov.

North Korean crypto hacking: Separating fact from fiction

"The small IP space/access to the internet in the DPRK, as well as its less connected nature to global/online systems, arguably offers it an asymmetric advantage in relation to cyber operations." The Democratic People’s Republic of Korea is widely considered to be a state sponsor of cryptocurrency hacking and theft.

Kyrgyzstan’s central bank suspends SWIFT to prevent capital outflow

The bank is shutting down the SWIFT network as protests rocked the country. The central bank of Kyrgyzstan has disabled cross-border transactions on the SWIFT financial network amid widespread unrest over the country’s disputed parliamentary elections. Aida Karabaeva, an official representative of the National Bank of the Kyrgyz Republic, announced a temporary suspension of SWIFT in Kyrgyzstan in a statement on Oct.

Mark Cuban Wants an Expiration Date on Stimulus Checks: Critics Says Proposal Is Right out of a Banana Republic Playbook

US billionaire Mark Cuban wants the next stimulus check to come with an expiration date in order to force Americans to spend the funds.

Slobloco: Innovations Project and Taxation in Blockchain Technology

[Featured Content] SLOBLOCO 2020 is the first Slovak Blockchain Congress with international participation that will run from November 16th-18th based in Samorin, Slovak Republic.

Bitcoin’s Energy Consumption Grows, Now Comparable to Czech Republic

As the hash rate reaches new highs, the estimated environmental impact of the network continues to climb as well.

“Bitcoin Has Depreciated in Half” Says Clueless Chechen Republic Leader Kadyrov

Ramzan Kadyrov, the Head of the Chechen Republic has a strong distrust of Bitcoin, along with a profoundly confused understanding of BTC price.

Here’s why the Head of the Chechen Republic has such a strong disdain for cryptocurrencies

Kadyrov does not seem to understand cryptocurrencies very well. The Chechen leader Ramzan Kadyrov shared some harsh comments about cryptocurrencies amid growing interest in the technology amongst Chechnya’s citizens. According to Pravda, Kadyrov claimed that the media is presenting crypto “as the new gold,” provoking what he calls a kind of Bitcoin (BTC) “fever”: "People take loans, save on themselves and their families, invest their last money in digital assets that promise incredible profits." The head of the Chechen Republic, a federal subject of the Russian Federation, also warned that excess profit is tied with “big risks.” He also claimed that over the past month, “Bitcoin has depreciated in half” — a statement which can be disproven by anyone with a quick Google search. Kadyrov said that people dream of easy money, and this creates a false promise of wealth that crypto does not offer and has never offered.

Here’s What’s Actually Going on With the SEC and Republic’s STO

Republic is trying to swap one SEC exemption for another to move its security token from the private to public markets. On Aug.

Authorities Find Illegal Bitcoin Mining Farm in Kyrgyzstan Free Economic Zone

Government authorities and executives at Free Economic Zone “Bishkek” are reportedly involved in running a large-scale illegal mining farm. Law enforcement authorities in Kyrgyzstan have reportedly detected an illegal cryptocurrency mining farm on the territory of a local free economic zone (FEZ). The State Service for Combating Economic Crimes, an anti-corruption service in the Kyrgyz Republic, has reportedly discovered a large-scale mining farm at FEZ Bishkek.

Republic Cuts Through SEC Red Tape to Raise $16M via Security Token Sale

Under a pair of SEC regulations, crowd-equity platform Republic has raised $16 million through the sale of its Republic Note security token.

Iranian Authorities Greenlight Power Plants Mining Bitcoin

According to Iranian authorities, power plants can mine cryptocurrencies like Bitcoin, but will not be able to take advantage of subsidies. Iran has announced that it will now allow industrial-scale power plants in the country to operate as Bitcoin miners —- provided they don’t use subsidized fuel. In a statement to the Islamic Republic News Agency (IRNA) on July 27, Mostafa Rajabi Mashhadi, a Deputy Managing Director at Tavanir, Iran's Power Generation, Transmission and Distribution Management Company, said power plants in the country could operate as Bitcoin mines “if they comply with approved tariffs" and have the necessary licenses. Mashhadi said that any power plant considering such a venture could not use subsidized fuel for crypto mining. "Now we’re in a situation where the supply of electricity is of great importance to the public,” the energy spokesman said.

Illegal Crypto Mining is Booming in the Republic of Abkhazia

The republic still allows the import of crypto mining rigs despite the ban. The Republic of Abkhazia is witnessing a surge in crypto mining activities despite crypto-related activities being illegal since 2018.

Bitcoin Mining Rigs Are Pouring into Abkhazia…Where Mining Is Illegal

Illicit crypto mining appears to be booming in the South Caucasus region, with Abkhazia where crypto rigs are reportedly flooding over the border – despite the fact that mining is officially illegal under Abkhazian law. The largely unrecognized Republic of Abkhazia in the South Caucasus is recognized by most countries as an autonomous republic of Georgia.

Kazakhstan Needs National Crypto to Fight Corruption, Says Local Official

Kazakhstan’s digital tenge has the potential to provide “full transparency in movement of budgetary funds,” chairman at local anti-corruption service says. The Chairman of Kazakhstan's anti-corruption service has called on the government to develop a national digital currency to fight corruption in the country. Alik Shpekbayev, chairman of Anti-corruption Agency of the Republic of Kazakhstan, reportedly said that national digital currencies like China’s digital yuan should contribute to a more transparent financial system.

Over 6,000 Participants Help Republic Note Rocket Past $8 Million Target

The crowdfunding model in crypto is far from dead, as Republic illustrates with a compliant profit-sharing token that distributes the proceeds from successful equity investments. The crypto industry has long been a testing ground for crowdfunding initiatives.