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Bitcoin ESG Forecast's recent blog post revealed that the Bitcoin mining sector has reached an unprecedented milestone, utilizing sustainable energy at an all-time high of 54.5%. The data, sourced from the Bitcoin Energy and Emission Sustainability Tracker (BEEST) model, indicates a notable 3.6% increase in sustainable mining activities throughout the 2023 calendar year. Bitcoin mining emerges as the leading user of sustainable energy among various sub-sectors, showcasing its commitment to environmentally friendly practices. The report also highlights efforts by some mining companies to leverage vented methane gas for electricity, contributing to a 7.3% reduction in the Bitcoin network's total emissions without offsets. Tether's hydro mining initiatives in Latin America and the exploration of off-grid methane-reducing mining activities further underscore the industry's dedication to sustainable energy practices. The shift of miners to greener grids in North America, following China's...

Indonesia, known for its rapid adoption of cryptocurrencies, experienced a significant 60% decline in transaction volume on crypto exchanges in 2023 compared to the previous year. Local exchanges attribute the drop in activity partly to the imposition of income and value-added taxes (VAT) on crypto transactions, treating them as commodities. The tax burden, which can surpass trading fees, is seen as a deterrent for traders. To address this issue, some in the local crypto industry advocate for recasting crypto as securities, hoping it would alleviate the tax burden on users. The shift in oversight to the Financial Services Authority (OJK) in January 2025 may pave the way for potential changes in taxation and classification. Until then, uncertainties loom over how local exchanges will navigate further declines in transaction volume. (Source: Coindesk)

Chinese artificial intelligence (AI) firm Baidu is under scrutiny for potential US sanctions following allegations that researchers in China used its Ernie chatbot in collaboration with the People’s Liberation Army (PLA) on military technology. Baidu denies any involvement in the research or authorization of its technology's use for military purposes. The company asserts that Ernie, like other language models, was publicly available and used in various research, including collaboration with the PLA. While no official sanctions have been announced, defense analysts predict possible US controls against Baidu, similar to those imposed on Huawei in 2019. Baidu's stock has already dropped by 12%, reflecting concerns about potential repercussions. The situation raises questions about sanctioning private companies for actions beyond their control and the potential impact on the global development of public-facing large language models. (Source: Cointelegraph)

Cryptocurrency exchange Gemini has received approval to operate as a digital asset services provider (DASP) in France, adding to its presence in over a dozen European jurisdictions. The approval from the Autorité des marchés financiers (AMF) brings Gemini's total number of registrants to 105. The exchange plans to roll out its services in France in the coming weeks, providing access to more than 70 cryptocurrencies for institutional and retail traders. Institutional traders will also have access to Gemini's electronic over-the-counter trading platform. The head of the European Union and Ireland at Gemini, Gillian Lynch, expressed excitement about offering French customers compliant and secure access to the evolving financial landscape. Gemini, currently facing legal challenges in the United States, opened its European office in Ireland in May. (Source: Cointelegraph)

Renowned XRP advocate and lawyer John Deaton praised Coinbase's legal team for filing a Motion to Dismiss (MTD) against the SEC in the ongoing legal battle. Representing over 5,000 Coinbase customers, Deaton acknowledged the team's thorough preparation, anticipating a strong performance against the SEC's perceived overreach. Meanwhile, Ripple CEO Brad Garlinghouse publicly criticized SEC Chairman Gary Gensler, branding him a "political liability" and questioning his effectiveness in crypto regulation. Garlinghouse cited delays in approving bitcoin exchange-traded funds (ETFs) and ongoing litigation against various firms. He advocated for a new SEC chair, emphasizing the need for a different approach to crypto regulation. The SEC recently approved several spot bitcoin ETFs, signaling a shift in its stance, but Gensler expressed concerns about potential market manipulation. Garlinghouse criticized Gensler's consistent legal approach against cryptocurrencies, deeming it futile and...

In a landmark development, Argentina has witnessed its first-ever Bitcoin rental agreement, where a landlord in Rosario, Santa Fe province, has agreed to accept payment in Bitcoin from the tenant. Facilitated by finance company Fiwind, the tenant pays 100 USDT monthly to Fiwind, which converts the amount into Bitcoin and transfers it to the landlord. This groundbreaking deal is a result of President Milei's radical deregulation policies, allowing parties to contracts to agree on payment in peso, foreign currency, or Bitcoin. The policy extends to various designated payment methods, including unconventional ones like kilograms of beef or liters of milk. While celebrated by liberals, Milei's policies have faced protests from some Argentinians opposing emergency decrees to bypass the congressional system. Despite being a small development, the Rosario rental agreement signals a meaningful shift in Argentina towards embracing digital assets and fostering a digital asset economy. (Source:...

Lawmakers in South Carolina, South Dakota, Tennessee, and Utah have proposed bills aimed at preventing the designation of a Central Bank Digital Currency (CBDC) as legal tender. Representative Tyler Clancy introduced a bill in the Utah Senate on January 4, seeking to exclude CBDC from the definition of legal tender within the state. A similar bill was introduced in South Dakota on January 9, explicitly stating that money does not encompass any central bank digital currency. Joining the trend, Tennessee introduced a bill on January 12, stating that the definition of money in the state does not extend to central bank digital currencies. The bills reflect ongoing debates between CBDCs and private cryptocurrencies, with proponents of Bitcoin expressing concerns over potential government control and surveillance associated with CBDC adoption. Last year, Florida Governor Ron DeSantis signed a law preventing the use of CBDCs in the state, emphasizing protection against government overreach...

In a groundbreaking collaboration, Paycorp has joined forces with digital currency payment company Triple-A, revolutionizing financial transactions for South Africans. Through the newly launched CryptoExpress app, Paycorp users can seamlessly convert their Bitcoin (BTC), Ethereum (ETH), USD Coin (USDC), and USD Tether (USDT) holdings into South African Rand at over 3,000 distributed ATMs nationwide. The user-friendly app allows for instant PIN generation, facilitating card-based and non-card crypto asset cash withdrawals at Cash Express ATMs. This innovative move aligns with the growing trend of cryptocurrency adoption in Africa, where the number of Bitcoin ATMs has doubled since 2020. As South Africa takes the lead in integrated cryptocurrency ATM withdrawals, it sets a transformative precedent for the global financial services landscape. Regulatory developments in South Africa, where authorities are considering operational licenses for cryptocurrency-related services, further...

The U.S. Securities and Exchange Commission (SEC) has filed for a postponement of the civil trial against Terraform Labs and its co-founder, Do Kwon. The trial, originally scheduled for January 29, is being delayed to facilitate Kwon's participation amidst ongoing extradition proceedings. Do Kwon recently appealed the Montenegro High Court's decision to uphold extradition requests from the U.S. and South Korea, citing concerns about potential political pressures on the court. The SEC proposes a new trial date of April 15, aligning with Kwon's willingness to attend the trial and consent to extradition from Montenegro. (Source: Crypto.news)

Pro-crypto Republican presidential candidate Vivek Ramaswamy has exited the 2024 presidential race after receiving fewer votes in the Iowa caucuses. Ramaswamy, a vocal supporter of cryptocurrency, plans to endorse Donald Trump in the presidential race. Despite facing attacks from Trump, Ramaswamy has shown significant support for crypto, particularly Bitcoin. In a recent debate, he called for substantial changes in cryptocurrency regulation, highlighting the flaws in the current U.S. financial system and endorsing Bitcoin and digital assets as a viable alternative. (Source: Coingape)

In a temporary relief for businesses navigating the crypto landscape, the U.S. Treasury Department and the Internal Revenue Service (IRS) have announced a postponement of new rules mandating the reporting of digital asset transactions exceeding $10,000. The delay comes as both agencies work to implement regulations in response to the changes introduced by the Infrastructure Investment and Jobs Act, signed into law by President Joe Biden in 2021. While the act equates digital assets with cash for reporting purposes, the recent IRS announcement indicates a transitional phase, stating that businesses are not obligated to report digital asset transactions akin to cash transactions until specific regulations are established. Critics argue that the stringent measures outlined in the infrastructure bill, including personal details disclosure for crypto transactions, may impede industry growth and innovation. (Source: Coingape)

Following the recent ban imposed by India’s Ministry of Finance, Financial Intelligence Unit (FIU) on offshore crypto exchanges, including Binance and OKX, Indian exchanges such as CoinDCX, WazirX, and BuyUcoin are stepping in to assist affected users. CoinDCX has allocated a $1 million fund to facilitate hassle-free asset transfers, offering a 1% bonus to users transitioning from banned foreign exchanges. BuyUcoin is providing zero-fee transfers aligning with the FIU ban, emphasizing support for investor protection and adherence to regulations. WazirX is also offering a 1% bonus for users moving their crypto holdings to its platform. The FIU's notices of non-compliance in December led to the removal of several foreign crypto exchanges from Apple and Google app stores, prompting urgency among users previously avoiding a 30% crypto tax through offshore exchanges. (Source: X)