CRYPTO RULES IN U.S. TO BE EFFECTIVE FROM 2022

CRYPTO REGULATIONS TO BE EFFECTIVE FROM 2022, Says U.S. Senators

Including Six U.S Senators have joined together to form an alliance to regulate cryptocurrency in the United States. U.S senators have called upon the federal reserve to regulate cryptocurrency bills as soon as possible before the effective year of the Infrastructure bills.

Source: CNBC
  • Bitcoin Price is up over $46,700 with a gain of +2.47%, ETH price is up about $3,837 (+$300) with +1.62% gain. Even after anti-inflation rule of the Federal Reserve crypto market soared today.
Source: Google

The Biden Administration approved the Infrastructure Investment and Jobs Act(IIIA) of $1.2 Trillion, in the month of November into law. This Act imposes certain transaction reporting requirements on crypto firms, mining companies, wallet companies, exchanges, and individuals who do not control Bitcoin transactions directly. Due to the word “Brokers”, the law drew some controversies at that time and those rules which were going to be imposed on them. This created controversies among some senators who expressed their concerns over a letter that was later published. The letter says in one section that :

“Some market participants have expressed concern that an overly-broad interpretation of … ‘broker’ could capture certain individuals who are solely involved with [validating transactions] and entities solely providing software or hardware solutions enabling users to maintain custody of their digital asset wallets.”

Senators from both parties like Rob Portman, Mark R. Warne, Mike Crapo, Kyrsten Sinema, Pat Toomey, and Cynthia Lummis signed the letter. Some experts like  Jerry Brito, Executive Director of Coin center expressed their concerns over the short time frame that is approved by the lawmakers, which may backfire according to them.

INDIAN PRIME MINISTER TWITTER ACCOUNT WAS HACKED FOR 30 Minutes

INDIAN PRIME MINISTER’s TWITTER ACCOUNT WAS HACKED FOR 30 Minutes?

Prime Minister Narendra Modi’s Twitter Was Hacked For 40 Minutes on 12th December 2021

Indian Prime Minister’s official Twitter accounts were hacked for approximately 40 Minutes of time period on 12th Dec 2021. Afterward, an official statement was announced stating and clarifying the situation. Within the time period of the hacked Twitter account, a Tweet was published stating that “India officially adopted Bitcoin as a legal tender and bought 500 BTC so far”. The same incidents happened previously with Donald Trump (ex-US President), Elon Musk, Jack Dorsey (Ex-twitter CEO), Jeff Bezos (Amazon CEO).

PM’s tweet after account hacked

This is the second time this incident has happened after 1 year. Previous year the hackers had posted tweets related to Bitcoin for the donation to an unknown wallet. But this time the tweet was about something else. Likewise the previous year the post was taken down immediately, this year also after a series of fake tweets the post was taken down and with an immediate response, the official announcement was posted.

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