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New Jersey State Considering New Bill to Set New Requirements for Cryptocurrency Businesses
The New Jersey state legislature received a new bill, the Digital Asset and Blockchain Technology Act by Assemblywoman Yvonne Lopez. This new bill would require cryptocurrency and virtual currency to obtain a license to operate, allowing for more consumer-friendly protections.
Andreessen Horowitz Names New York Stock Exchange’s Top Regulator to Head Its Cryptocurrency Unit
Andreessen Horowitz venture capital firm hires the current head of the New York Stock exchange (NYSE)’s regulatory unit.
Bitfinex and Tether's Appeal Rejected by New York Judge
Judge Cohen reportedly decided to give a 90-day extension to the case, which will give the New York Attorney General’s office to continue investigating. Judge Cohen also dismissed Bitfinex and Tether’s motion to appeal after the ruling.
New York Man Charged with Defrauding Investors $4.5 Million in Cryptocurrency Investment Scheme
A New York man has been charged in US federal court with defrauding investors out of millions of dollars in crypto assets that he used on offshore gambling sites. A criminal complaint was filed on July 9, and the US Attorney’s Office charged Douglas Jae Woo Kim, 27 years old, with wire fraud in which he allegedly conned three investors out of over $4.5 million of Ethereum and Bitcoin.
US CFTC Charges New York Crypto Trader with Fraud Involving Digital Asset Ponzi Scheme
A New York native has been charged with fraud for allegedly scamming $5 million from more than 175 investors using a crypto Ponzi scheme.
New York-Based Power Plant Greenidge Generation Mines $50,000 Worth of Bitcoin on a Daily Basis
Greenidge’s 65,000-square-foot facility was initially built in 1937 as a coal plant before eventually being closed down in 2011. The plant remained dormant for five years before Atlas Holdings, Connecticut-based private equity company, converted it into a natural gas plant in 2016 to generate clean energy. Because of the high power that crypto mining machines use in their operations, countries have initiated stricter measures to discourage miners from conducting their mining activities. Some of these measures involve increased electricity fees, which have compelled most miners to move to other cities with favorable electricity billing.
Democrat Andrew Yang Wants New York City to Be a Hub For Bitcoin and Crypto
Democratic candidate for the office of New York Mayor, Andrew Yang wants to turn the city into a hub for Bitcoin (BTC), and other cryptocurrencies.
Brock Pierce Served for Securities Fraud in Connection with His Blockchain Company Block.one During Electoral Campaign
Presidential hopeful Brock Pierce was served a court summons during his electoral rally at his new headquarters in New York City today.
New York Supreme Court Declares NYAG has Jurisdiction over Bitfinex
The New York State Supreme Court ruled that the New York Attorney General (NYAG) has jurisdiction over the case with cryptocurrency exchange Bitfinex, regarding fraud allegations.
IBM Opens Quantum Computation Center in New York
On September 18th, IBM announced the opening of the IBM Quantum Computation Center in New York State which will house the world's largest fleet of quantum computing systems for commercial and research activity that exist outside of an experimental lab environment.
Billionaires and Bitcoin: Stan Druckenmiller’s Alarming Warning on Stocks While Paul Tudor Jones Remains Bullish on Bitcoin
Billionaire Stanley Druckenmiller said during a webcast held by The Economic Club of New York that the risk-reward calculation for equities is the worst he has ever seen in his career. The billionaire expressed his doubts about the US equities’ possibility of logging a V-shaped recovery. He added that government stimulus programs will not be enough for the economic recovery post-pandemic. Druckenmiller believes that cash liquidity required to pump assets that are considered risky will shrink shortly as the US Treasury will soon end the private economy which could overwhelm the Fed purchases through borrowing consistently.
Grayscale Adds Five New Crypto Investment Trusts including One for Chainlink and Filecoin
Grayscale Investments has expanded its product line by launching new investment trusts including Chainlink, Filecoin, and Basic Attention Token.