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Over 1,000 Bitcoin mining machines have been completely destroyed in Malaysia after they were confiscated for illegally mining the cryptocurrency using stolen electricity. The mining machines, valued at around 1.26 million US dollars, have been rolled over in the Malaysian city of Miri and eight people have so far been arrested. Demolished over a thousand bitcoin mining machines in Malaysia The Malaysian authorities completely destroyed 1,069 Bitcoin mining machines, which were seized between February and April, with a steamroller, local media reported on Friday. The mining machines were confiscated in a joint action by the police and Sarawak Energy Berhad (SEB) in Miri, a Malaysian city on the northwest coast of the island of Borneo. Their value is estimated at 5.3 million Malaysian ringgits ($ 1.26 million). All court-settled seizures were disposed of at Miri District Police Headquarters on Friday. Miri Police Chief ACP Hakemal Hawari said eight people were also arrested for...

The leading Korean crypto exchange Bithumb is terminating its branding agreements with two coin trading platforms operating overseas under its brand name. The move comes as the digital asset exchange in South Korea prepares to meet the country’s stricter regulations for the industry, which will be enforced in September. Bithumb Global and Bithumb Singapore change their brand names as Bithumb terminates branding agreements Two cryptocurrency exchanges, Bithumb Global and Bithumb Singapore, will no longer be able to use the brand name and brand Bithumb as of the last day of this month. Bithumb Korea Co., Ltd., operator of the leading South Korean digital currency platform, announced its decision to terminate the trademark license agreements with the two companies. According to the advance notice published this week, the termination date for the contracts has been set for Friday, July 30th, 2021. The non-exclusive trademark license agreements described in the press release apply t...

Jackson, the Mayor of Tennessee, is a fan of Bitcoin and wants the city to become a Bitcoin hub to attract tech companies and innovation. Jackson’s Mayor Scott Conger is discussing creating laws that would allow Jackson residents to pay property taxes using Bitcoin. Jackson, the mayor of Tennessee, is a fan of Bitcoin, wondering why we accept inflation Miami Mayor Francis Suarez isn’t the only bitcoiner trying to bring bitcoin companies and technological innovations to his city. Jackson, the Mayor of Tennessee, is also a Bitcoin fan, and Scott Conger is the third member of his family to be Jackson’s Mayor. Conger noted that inflation rose after the federal government and central bank put massive stimulus in place over the past year and a half. In Conger’s opinion, Bitcoin is the only solution to this problem. Conger three days ago tweeted : Why do we accept inflation? Why are we not demanding more from our federal government 6.3% in 2 years? 172.8% in my life. Every year our ...

The International Monetary Fund (IMF), the World Bank and the Bank for International Settlements (BIS) have carried out a comprehensive study on the use of central bank digital currencies (CBDCs) for cross-border payments. Their report to the G20 states that improved cross-border payments “can be achieved … as long as countries work together”. The Committee on Payments and Market Infrastructures, the BIS Innovation Hub, the International Monetary Fund and the World Bank published a joint report to the G20 on July 9, entitled “The Central Bank’s Digital Currencies for Cross-Border Payments”. The report states: “Cross-border payments are often criticized for their high costs, their slow speed, their limited access and their insufficient transparency.” To meet these challenges, the G20 countries adopted a roadmap in October last year. It was developed by the Financial Stability Board (FSB) and other relevant standardization bodies. Various aspects of central bank digital currenci...

Analysis provider Ecoinometrics has published a tweetstorm that shows that the current downward spiral from Bitcoin’s all-time high is one of the “longest drawdowns Bitcoin had to contend with during a bull market after being halved”. In addition, on the same day, analyst and economist Julio Moreno highlighted in a recently published blog post that “with Bitcoin, volatility is your friend”. Analyst discusses Bitcoin’s second longest drawdown before the next price move Most people in the industry understand that Bitcoin (BTC) prices have seen better days and many viewers are wondering when the crypto asset will bounce back. The fact is, we really don’t know, but people are using previous chart patterns from previous bull markets and have measured a number of time spans. Recently, Bitcoin.com News has published at least two market reports showing that speculators believe this bull run is similar to the 2013 action Ecoinometry , the current downturn is the second longest since 201...

As of July 18, Bitcoin is the most valuable cryptocurrency in US dollars per unit, currently trading for $ 31,693. In addition to all the packaged Bitcoins and synthetic Bitcoin connections, the second highest crypto asset per unit is the longing for financing and the manufacturer follows. Removing market cap positions and looking at crypto assets this way gives a user a completely different perspective. A look at the top digital currencies by unit price At the time of writing, there are only two crypto assets worth five digits and only two worth four. A look at the price of each coin per unit shows how many coins are being traded in certain price ranges. The unit price recorded in this report was recorded at 8:55 a.m. EDT on Sunday, July 18, 2021. The data was collected from the crypto market aggregation sites market.bitcoin.com and coingecko.com. The five most expensive crypto assets per unit include Bitcoin, Long Finance, Maker, Ethereum, and Bitcoin Cash. The per-unit pric...

According to regional reports, the current leadership of El Salvador is in the process of developing a stablecoin that will be backed by the US dollar. Meanwhile, others believe that the stablecoin idea has now been discarded after Nayib Bukele’s government decided to use Bitcoin. Some say the Colón dollar is being developed, others claim the Salvadoran stablecoin idea has been scrapped There is much discussion about a report by the regional news agency El Faro. The investigation claims that Salvadoran President Nayib Bukele and his regime are planning to issue a stablecoin. The El Faro report links to videos showing the president’s brothers discussing the stablecoin called the Colón dollar. The El Faro report notes that a spokesman for the Bukele regime says the stablecoin plans have been scrapped, but “sources familiar with the matter” told El Faro that they disagree. This is because the meetings on the Colón dollar are still ongoing and will take place after Nayib Bukele pas...