Bitcoin News Recap

4th week of March

Malaysian minister proposes government adopting Bitcoin as legal tender

Malaysia’s Communication Ministry has proposed to the government that crypto currency such as Bitcoin be adopted as legal transfer, its deputy minister Zahidi Zainul Abidin told Parliament on Monday.

If approved this would be the third case of a jurisdiction using Bitcoin as legal tender.

US state of New York may ban Bitcoin mining for two years

The Environmental Conservation Committee of the New York State Assembly voted on Tuesday afternoon to move along a proposed law that would ban proof-of-work (PoW) Bitcoin mining for two years.

The bill was put together under the auspices of the state’s Climate Leadership and Community Protection Act.

Bitcoin miners started building “greener” power infrastructure in Texas, USA

Facing criticism from politicians and environmentalists, the mining industry started a rebranding effort to challenge the view that its electricity-guzzling equipments are bad to the environment.

The largest publicly traded Bitcoin mining companies say they are building or already operating plants powered by renewable energy.

US Florida state will accept Bitcoin for taxes

Florida Governor Ron DeSantis says he’s taking steps to enable firms to pay taxes in cryptocurrencies.

“We will accept bitcoin, we’re working on doing that for payments in the state of Florida,” he said.

A Wall Street bank will offer Bitcoin trading to its institutional clients

Boutique investment bank Cowen Inc. started a digital asset unit offering institutional clients access to spot Bitcoin trading, a step that puts it at the front of Wall Street’s push into the expanding industry.

The world’s largest oil and gas company is now mining Bitcoin

Exxon Mobile, the world’s largest oil and gas company is running a pilot program to take gas from an oil well pad in the Bakken shale basin to power mobile generators used to run Bitcoin mining servers on site. The oil giant has an agreement with Crusoe Energy Systems Inc to run the process.

Russia open to taking payments for natural gas in Bitcoin

Russia is open to accepting bitcoin for its natural resources exports, the chairman of the country’s Congressional energy committee, Pavel Zavalny, said in a press conference on Thursday.

With this movement Russia could set the stage for an upcoming trend where nations choose to transact in the stateless global monetary system.

Israeli bank Leumi to launch Bitcoin trading platform

In a collaboration recently finalized between Leumi Group and the US company Paxos, the platform “PEPPER INVEST” by Leumi will enable trading in Bitcoin and other cryptocurrencies.

Pepper might be required to trace cryptocurrency transactions from purchase until an eventual conversion to fiat currency, according to the Bank of Israel.

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