For the first time since he became president, Trump has published comments on cryptocurrency. He claimed on Twitter that Bitcoin is volatile, does not rely on anything and facilitates illegal activities because it is not regulated.
Trump advertises crypto
I’m not a fan of Bitcoin and other Cryptocurrencies, which are not money, and whose value is highly volatile and based on thin air. Unregulated Crypto Assets can facilitate illegal behavior, including drug trafficking and other illegal activity.
– Donald J. Trump (@realDonaldTrump) July 12, 2019
The crypto community was delighted with the message, although it is critical. Most analysts have pointed out that Trump advertises free crypto. A fact that has been shown by the increase in Google searches for Bitcoin after Trump’s comments have been published.
The American Senate is currently approving the blockchain promotion
The United States Senate Trade, Science and Transport Committee approved the Blockchain Technology Promotion Act.
The draft law, published by CNET, sets up a working group within the Department of Commerce. Members of the working group should be representatives of federal and non-governmental agencies that could use technology in their work.
Within one year of setting up, the working group must submit a report to Congress that includes a definition of blockchain technology. They will also research on the impact of DLT technology, and specifically on possible uses by federal agencies.
4,000 mining equipment confiscated in China
Chinese police arrested 22 people accused of illegal crypto mining activities. They have led to about $ 3 million worth of electricity losses, according to the XinhuaNet local newspaper.
The authorities also seized 4,000 mining equipment that had been illegally installed in nine factories.
According to the report, the Jiangsu police launched a criminal investigation after the local electricity supplier reported abnormal consumption. After two months of investigations, the 22 suspects were accused of electricity theft. The damage is worth 20 million yuan (2.91 million dollars).
Japanese Exchange Bitpoint, victim of a $ 32 million hack
Japanese Exchange Bitpoint suspended all services after it lost 32 million dollars in a hack.
The company announced that Bitcoin, XRP, Litecoin and Ethere crypto monies were stolen from the online exchange wallet.
Bitpoint was one of the many crypto exchanges that received a business improvement order from Japan’s financial regulator. The Financial Services Agency (FSA) has conducted extensive inspections on all exchanges operating in the country.
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