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It may come as a surprise to some, but the US is undoubtedly one of the friendliest countries when it comes to cryptocurrencies.
Most Bitcoin and Ethereum nodes and controllers are particularly interested in this topic. In September, President Joe Biden's administration released a series of federal reports discussing possible regulations for cryptocurrencies next year.
Accepting cryptocurrencies
In these documents, the Office of Science and Technology stated that the government's role is to protect people from the harmful effects of cryptocurrency-related pollution and climate change. President Biden's tax cuts are the biggest investment the United States has made in renewable energy, climate change resilience, and reducing greenhouse gas emissions. The $370 billion stimulus fund, including Clean Energy Tax Credits, is intended to encourage the widespread development of clean energy technologies and help electrify American communities.
By enabling the coordination of distributed energy sources, the use of blockchain technology in energy microgrids can "support techno-socio-economic innovations to reestablish a sustainable energy supply chain."
The most popular blockchain, Ethereum, has recently been converted to a green proof-of-concept (PoS) consensus process through a merger event. The network now offers attractive subscription fees, and the update has improved profitability and security, and taken steps to increase scale.
According to a September 2022 report published by the Crypto Carbon Ratings Institute, Ethereum's proof-of-work transition to proof-of-stake reduced the network's electricity consumption and carbon footprint by more than 99.992 percent. This will help the United States achieve its climate goals of "reducing greenhouse gas emissions by 50-52 percent by 2030, achieving a carbon-neutral energy system by 2035, and a net-zero economy by 2050." " According to the Office of Science and Technology.
Accepting Bitcoin
Some of the biggest money managers, including MassMutual and BlackRock, entered the digital asset space due to the crypto market crash. Five years after the firm's CEO, Larry Fink, called bitcoin a "simulation of money," BlackRock has launched a mutual fund that tracks the cryptocurrency's value.
The $491 billion KKR Healthcare Strategic Growth Fund II will be underwritten by digital asset developer Securities Capital. And a new cryptocurrency exchange, ADX Markets, opening in November, was launched by Charles Schwab, Citadel, Fidelity Digital Assets and others.
Meanwhile, the cryptocurrency exchange Coinbase said in September that it was involved in a lawsuit against the Treasury Department, which claims that it exceeded its authority in the purchase of crypto-mingling company Tornado Cash.
The federal government's digital central bank is ready to create money
In the year In July 2022, the Treasury Department's Financial Research Department released a working paper examining the impact of a central bank digital currency (CBCC) on the stability of the larger financial system. Two potential financial stability implications of CBDCs have been identified: "First, banks' depositors will experience less maturity change when they obtain CBCCs, thereby reducing their exposure to deposit flight. Second, by monitoring how money flows into CBCCs, regulators can respond more quickly to stressful situations and depositors and Reducing the incentive for other short-term lenders to exit properties.
Meanwhile, stablecoins and CBDCs were tracked in the Treasury Department's September 2022 Futures of Money and Payments report, which referred to the "natural use case" of CBDCs. The study considers these things to "create the future of money and payments", "promote US global financial leadership", "expand financial inclusion and equity" and "reduce risk".
NFT on the green side
In an interview with me, John Crane, co-founder and CEO of non-fungible token (NFT) platform SuperRare, discussed the impact of PoS, “Artists are always at the forefront of progressive ideas, so make sure Ethereum is real. A game changer in solving one of the biggest challenges in NFT technology.[...]
We believe this will benefit crypto-arts and hopefully only help the industry flourish. According to ConsenSys, founded by Ethereum founder Joe Lubin, the updated Ethereum PoS mainnet will host one of the first collections of NFTs.
Cryptocurrency is used for illegal purposes
According to the Department of Justice, three people were arrested in connection with the "first cryptocurrency insider trading" in June 2022.
Attorney General Merrick Garland said, "As digital assets play an increasingly important role in our global financial system, we must work together with government bodies and agencies to prevent and use these technologies to facilitate crime and harm our national security."
"The development of digital assets has created a new environment for criminals to use creativity to expose serious crimes at home and abroad and crimes that threaten national security," said Assistant Attorney General Kenneth Pollitt Jr. There is a criminal division of the Department of Justice. He added , "By creating the DAC Network, the Crime Division and the National Cryptocurrency Task Force will continue to better position the department and prosecutors to address the ever-evolving criminal use of digital asset technology."
Legal framework
The White House recently released a fact sheet outlining a regulatory framework for digital assets to protect consumers by "creating guidance, increasing enforcement resources, and aggressively prosecuting fraudsters." This was consistent with Biden's executive order to ensure responsible development of digital assets.
The Treasury Department's Office of Foreign Assets Control (OFAC) has also updated guidance for the crypto sector on how individuals and organizations can proceed with sanctions on Tornado Cash, which has been blacklisted due to claims by North Korean hackers. Money is saved for fraud. Depending on the government, individuals may apply for OFAC authorization to withdraw funds related to Tornado Cash.
Presale of IMPT Tokens
IMPT.io , a new project focused on creating a green world using blockchain technology, is currently in pre-sale and has raised over $1.8 million.
This blockchain-based ecosystem aims to transform the opaque carbon credit market by empowering people and businesses to reduce their carbon emissions.
IMPT's main task is to facilitate the process of buying and selling carbon credits, which play a fundamental role in combating climate change. These carbon credits are basically contracts that allow the owner to release a certain amount of carbon into the atmosphere. Each carbon credit is usually associated with one ton of carbon emissions.
Interestingly, these certificates can also be traded, prices are determined based on the laws of supply and demand. The technical documentation of this project is available here.
IMPT raised more than $1.8 million in the first few days of the pre-sale.
The pre-sale of IMPT has started and the project has successfully collected more than 1.8 million dollars. Prices will gradually increase as the presale progresses, meaning early buyers will get the best deals.
Right now, IMPT is in the first phase of the presale, with IMPT tokens selling for as little as $0.018. A total of 600,000,000 tokens (3 billion IMPT is the maximum amount) will be sold in this round, another 660 million will be sold in the second round at $0.023, and another 540 million will be sold in the third and final sale. Level for $0.0280.
Prices will increase incrementally throughout the presale, giving early buyers the best deal.
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