US lawmakers target perceived risks of crypto adoption in El Salvador with reintroduced bill

[ad_1] Two United States Senators from opposite sides of the political aisle have reintroduced legislation from 2022 aimed at mitigating perceived risks posed by El Salvador’s adoption of Bitcoin as a legal currency.Congressional records showed Idaho Senator James Risch and New Jersey Senator Bob Menendez introduced “a bill to require reports on the adoption of cryptocurrency as legal tender in El Salvador” on May 11. The legislation appeared to be

Binance calls it quits in Canada, blames new rules

[ad_1] Binance will withdraw from the Canadian market, the cryptocurrency exchange announced on Twitter on May 12. It called its withdrawal “proactive” as new guidance issued by Canadian regulators continues to take a toll on the country’s crypto industry.Binance is joining some of its smaller competitors in the Canadian exodus brought on by the introduction of rules by the Canadian Securities Administrators (CSA) on Feb. 22 that required them to

LG Electronics files patent for NFT-trading TV

[ad_1] South Korean tech company LG Electronics has filed a patent application for its blockchain-based Smart TV that allows users to trade nonfungible tokens (NFTs). The information was published on WIPO's global database for intellectual property on May 11. According to WIPO's documentation, a patent application is published 18 months after the filing date or the priority filing. Based on this timeline, LG's application was submitted in November 2021. The next steps

Coinbase establishes advisory council with former US lawmakers

[ad_1] Following some of its leadership team visiting the United Arab Emirates, crypto exchange Coinbase has announced the formation of an advisory council staffed with many former United States lawmakers and industry leadersIn a May 12 blog post, Coinbase said its Global Advisory Council would aim to navigate the “increasingly complex and evolving” crypto landscape globally. Former Pennsylvania Senator Patrick Toomey, former Ohio Representative Tim Ryan, former New York Representative

How will lower interest rates benefit Bitcoin?

[ad_1] Macro Markets, hosted by crypto analyst Marcel Pechman, airs every Friday on the Cointelegraph Markets & Research YouTube channel and explains complex concepts in layperson’s terms, focusing on the cause and effect of traditional financial events on day-to-day crypto activity.Today’s show starts by discussing the economic crisis in Argentina, a Latin American country that is experiencing hyperinflation. After years of populist measures, its local currency, the peso, saw its value

The US should promote USDC — before it’s too late

[ad_1] Ignore the doomsayers. The United States is still the world’s leading economy and will remain so in the future. With its global talent pool and world-class institutions, the U.S. has a competitive edge in virtually every emergent technology. Web3 is no exception. Despite its advantages, America is bungling its chance to dominate the digital economy. In what Messari CEO Ryan Selkis aptly dubs “a colossal public policy failure,” America’s semi-official

BitDAO proposes to replace BIT token in branding revamp

[ad_1] A proposal seeking to apply a "One Brand, One token" principle has been pushed to a vote on BitDAO's Snapshot, calling for substituting BitDAO's token (BIT) under a new governance token. Snapshot serves as an off-chain governance voting platform for decentralized autonomous organizations (DAOs) and other blockchain projects.According to proposal BIP-21, the BitDAO ecosystem — governance (BitDAO) and product (Mantle) — will be unified as Mantle. Governance processes and

MakerDAO publishes 5-phase roadmap featuring funding for open-source AI projects

[ad_1] MakerDAO, the organization behind the DAI stablecoin and its related MKR governance token, recently announced a slew of planned updates to its ecosystem, including a heavy focus on artificial intelligence (AI) technologies and the planned development of a new blockchain. Beginning with an upgrade to unify the organization’s brand, the new roadmap details a five-phase project called “Endgame.” 5 phases of Endgame.Endgame has been defined as an update that employs AI

President Biden announces nominations for key positions at Federal Reserve

[ad_1] United States President Joe Biden has announced his nomination of two people for key positions on the Federal Reserve, including a new Fed governor and economist Philip Jefferson as vice chair.In a May 12 notice from the White House, President Biden said he would put forward Fed governor Philip Jefferson’s name to become the next vice chair of the central bank, replacing Lael Brainard, who resigned in February. The