digital

Vietnam issued a warning about % Pi network falls 18% as Vietnamese authorities issued a legal warning Vietnamese authorities issued a warning about the risks associated with the Pi network

They emphasized that #cryptocurrencies , including Pi, do not have the status of a legal asset in the country.
Following the warning, the price of Pi tokens fell 15 percent in less than 24 hours to about $BTC Vietnamese authorities warned citizens of the risks associated with the Pi Network, noting that its tokens have no real value and remain highly speculative.
On March 2, Hanoi police noted a surge of interest in the tokens, attributing it to aggressive promotion on social media and the recent listing after the main network's launch.
authorities warned that Pi Network promotes mining applications with unrealistic expectations of constant price increases. This, they said, attracts users who do not fully understand the risks.
authorities also explained that cryptocurrencies, including PI, do not have the status of a legal asset in Vietnam. Therefore, disputes and financial losses related to PI-related transactions are not protected by law.
additionally, law enforcement authorities warned that the Pi network could be used for fraudulent activities. They emphasized the danger of fake #token scams aimed at stealing user data and laundering money.
Since Pi has no practical use and its value is self-appropriated, many people are unaware of its true value. Some people may use Pi for illegal activities, such as creating fake Pi #cryptocurrency to fund asset misappropriation, developing fake Pi applications to fraudulently collect user data, or gaining unauthorized access to misappropriate assets or cryptocurrency in Pi transactions.
In addition, #digital assets are not recognized as a legal payment method in the country, and organizations using digital assets for transactions may face fines and lawsuits.

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US Digital Assets Subcommittee to hold hearing on bipartisan crypto legislation The US Senate Banking Committee, chaired by Sen. Cynthia Lummis, will hold a hearing titled Exploring Bipartisan Legislation on Digital Assets to examine cryptocurrency regulation.

NEW: The @BankingGOP committee's #Digital Assets Subcommittee, chaired by @SenLummis, will hold a hearing Wednesday titled Examining a Bipartisan Legislative Framework on Digital Assets.
Witnesses include: scheduled for Feb. 26 The hearing, scheduled for Feb. 26, is a new attempt to develop clear guidelines for the digital asset industry, where progress has been stalled by congressional obstruction, according to a statement from
Republican Senator Tim Scott of South Carolina, who currently chairs the committee. Scott has expressed strong support for the #cryptocurrency sector, and there are high hopes that this will be a more constructive discussion.
industry representatives, including legal experts from #Kraken and Lightspark, will talk about what regulatory frameworks can foster innovation and growth in the sector. Lewis Cohen, partner at Cahill Gordon and Reindel LLP, Jonathan Jahim, deputy general counsel and global head of policy and government relations at Kraken, and additional witnesses may be added during the hearing. The hearing comes at a critical time for the crypto industry, which is facing increased regulatory scrutiny and calls for clearer compliance measures
The outcome could shape the direction of U. S. digital asset policy and impact the global crypto economy.
the hearing will be streamed live on the internet, but will not be accessible until after the hearing.
closed captioning, etc. Anyone requiring accessibility services should contact the committee's secretariat at least three business days before the hearing.
According to FOX Business and Punchbowl News, the U. S. Senate Banking Committee will create the first-ever cryptocurrency subcommittee chaired by Senator Cynthia Loomis.
This comes a month after President Donald Trump's inauguration in January.

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#CryptoTrends

Chamber calls for a cryptocurrency-friendly stance in open letter to Vice President Kamala Harris.

Chamber calls for a cryptocurrency-friendly stance in open letter to Vice President Kamala Harris.
On July 22, the Digital Chamber released an open letter to U. S. Vice President Kamala Harris, urging her to take a more cryptocurrency-friendly stance if she wins the Democratic Party's presidential nomination in 2024.The letter emphasizes the need for Harris to embrace the potential benefits of #digital assets and #blockchain technology, and says her campaign could play a key role in changing public perceptions of the Democratic Party's stance on these transformative technologies.The letter outlines three key recommendations for Harris' campaign.First, she advocates for the inclusion of pro-digital asset language in the Democratic Party platform, emphasizing the benefits and innovations of #blockchain technology.Second, it recommends selecting a vice presidential candidate with experience in digital asset policy, and cites Colorado Governor Jared Polis as a candidate with extensive experience in this area.And finally, it calls for engagement with industry leaders to develop supportive policy through an open dialog with digital asset and blockchain experts.The Digital Chamber noted the perception that the Democratic Party has a negative view of digital assets, largely due to the cautious and sometimes Biden himself has publicly stated that he fully supports Harris's candidacy.The announcement of the endorsement follows recent political events that have caused uncertainty in the #cryptocurrency market.In a social media post on July 21, Biden announced that he would not seek re-election because he wanted to focus on his remaining presidential duties.After Biden left office, attention was focused on how a possible Harris presidency would affect the regulation of cryptocurrencies.

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#CryptoUpdates

A group of Republican lawmakers, including the chairs of key House committees, have asked SEC Chairman Gary Gensler to develop clearer rules for digital assets such as Ethereum (ETH) and their custody by specialized broker-dealers (SPBDs).

Their March 26 letter highlights the critical need for regulatory transparency to make it easier for operators in the digital asset sector to comply with the rules.
The lawmakers' letter emphasizes the SEC's reluctance to clearly classify assets and that the definition of "digital asset securities" remains unclear.
The #SEC is concerned about the lack of clear guidance for SPBDs dealing with #digital assets.
The request concerns whether #BTC should be classified as a security after Prometheum Inc. announced that its subsidiary will offer Ethereum custody services to large investors.
The measure raises concerns about possible negative consequences if it goes forward without a robust regulatory framework.
Lawmakers warn of potential market risks if #ETH is classified as a security.
They argue that it could affect ETH futures trading and disrupt the digital asset market. The letter criticizes the SEC for lacking adequate guidance, making compliance more difficult and contributing to uncertainty in the digital asset market.
Finally, the lawmakers warn that continued regulatory uncertainty will negatively impact the U. S. digital asset market. They emphasize the need for clear and consistent rules to support innovation and growth.
The letter, signed by 48 lawmakers including Patrick McHenry and Glenn Thompson, demands a response from Gensler by April 9, underscoring lawmakers' desire for a more transparent approach to digital asset regulation.
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#CryptoMarketTrends

Donald Trump has doubled his support for cryptocurrencies.

The former president's stance on #cryptocurrencies has changed 180 degrees.
While Trump endorses cryptocurrencies, Biden is in danger because of his anti-cryptocurrency stance.
Former President Donald Trump is diving headfirst into the #cryptocurrency wave, especially now that it means outflanking his main rival, President Joe Biden. The leading Republican candidate has been on the rise lately, and even while accepting campaign donations in various cryptocurrencies, including meme coins like Doge and SHIB, he has embraced the crypto industry with open arms.
In a new post on his social media platform, Trump reiterated his love for cryptocurrencies and said he fully supports #digital assets in the race for the White House.
'I am very positive and open-minded about cryptocurrency companies and everything related to this new and rapidly growing industry,' Donald Trump wrote in his signature style typed in large letters. The former president emphasized that the United States should be the leader, "there is no such thing as second place.
Trump didn't miss the opportunity to throw shade at Biden, saying his rivals hope to bring the crypto industry "a slow and painful death. ""
The former president's new social media post completely reverses the 180-degree stance he took a few years ago when he was skeptical of cryptocurrencies compared to the U. S. dollar.
A man in neat clothes examines documents while sheets of paper fly around him.
Can #Ripple win against the SEC thanks to a new bill?
Two elderly people in wheelchairs, facing each other, show their middle fingers in an old abandoned building.
A robot hand holds a TON token and sends a message via telegram.
"The currency of this world should be the dollar. And I don't think we should have all the bitcoins in the world.

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#CryptoUpdates

XRP investors have made more than $500 million in the past 48 hours.

Short-term holders are responsible for much of the selling after the CME announced #XRP futures.
XRP could fall nearly 20% to $2.62 as bulls show signs of exhaustion. Potential. Ripple's
XRP fell 3% in early trading on Friday as blockchain and technical indicators show bulls are losing momentum
XRP fell 3% in early trading on Friday as U. S. President Donald Trump signed the Presidential Task Force on #Digital Assets. Despite the positive developments surrounding the signing of the executive order creating the Presidential Task Force on Digital Assets, the cryptocurrency showed no signs of recovery.
According to Eleanor Terrett of Fox Business, the Chicago Mercantile Exchange (CME) has not decided to launch a futures contract on XRP. This disappointment could be the reason for the market weakness.
the news caused a wave of negative sentiment in the XRP community, which was waiting for the launch to confirm the possible approval of the Securities and Exchange Commission (SEC) XRP ETF.
as a result, the #token has continued to strengthen, and in the last 48 hours investors have made a profit of $ 500 million.
Realized gains were driven by potential selling activity from short-term holders, as evidenced by small jumps in turnover over 90, 180 and 365 days of hibernation.
additionally, XRP's open interest (OI) growth has stalled over the past few days, reaching up to 2.14 billion XRP from an all-time high of 2.34 billion XRP. Open interest is the total number of open contracts in the derivatives market; a decline in OI indicates that traders are closing positions.
Despite the decline in OI, XRP bulls still dominate the spot market after net outflows increased on #Binance and Kraken last week. dominate the spot market. dominate the spot market. However, Coinbase and Bitstamp saw inflows.

According to Coinglass, $ 10.

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On Capitol Hill, legislative debate is intensifying on two key cryptocurrency bills.

On Wednesday, the Senate Banking, Housing and Urban Affairs Committee will examine a bipartisan legislative framework for #digital assets.
March 5, the House Financial Services Committee will hear testimony on Stablecoin and
On Tuesday, White House Director of Artificial Intelligence and #Cryptocurrencies David Sachs held his first press conference on cryptocurrencies, outlining legislative priorities, the first time the Trump administration will look to regulate the industry. The key steps are a market structure bill and a comprehensive stable coin bill. At the event, which was attended by key House and Senate leaders, Senate Banking Committee Chairman Tim Scott (Republican) announced his intention to bring both key #cryptocurrency bills to a vote in the Senate before the end of the president's term.
Last year, there was a bipartisan call for a cryptocurrency bill in Congress, but in 2024.
earlier this month, Senator Tim Scott (Republican), chairman of the Senate Banking Committee, tried to fulfill a campaign promise related to the digital asset industry during the 100 days of President Donald Trump's cryptocurrency-friendly administration, and among others involved in pushing for a cryptocurrency bill, promised to pass a bill on the structure of the stablecoin market and regulatory framework.
the Financial Innovation and Technology for the 21st Century Act (FIT21) was passed by the House of Representatives last year. However, as the new Congress begins its work, this market structure bill must be approved again by House members before it moves to the Senate.
Meanwhile, the GENIUS Act, which gives issuers of stable coins, including #Tether and Circle, a federal path to legalization in the U. S. , is gaining momentum.
CBDCs are similar to stable coins as assets tied to the price of fiat currencies such as the U. S. dollar.

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#CryptoUpdates

Permanent link to this post: the House Oversight and Government Reform Committee wants to investigate the FDIC's debanking practices under the previous administration.

Chairman Comey released the agency's uncut records to investigate these cases.
Custodia Bank CEO Caitlin Long says President Trump has done nothing to address the problem of debanking.
The House Committee on Oversight and Government Reform is investigating the actions of the Federal Deposit Insurance Corporation (FDIC) under the previous administration.
The focus of this investigation is whether financial institutions were forced to shun #digital assets.
The focus of this investigation is whether financial institutions were forced to shun digital assets, which could stifle innovation and limit access to banking services for people and businesses.
The new acting FDIC chairman, Travis Hill, said that under President Biden, the agency was concerned about banks' attempts to offer #cryptocurrency services. He expressed concern about the antagonism. One possible reason was reports that some companies and individuals were allegedly forced into bankruptcy because of their alleged involvement in #cryptocurrencies , and he warned of perceived overreach by the regulator.
In early February, the FDIC released a redacted version of a document about its interactions with banks that had been released to the public. Sixty-four documents reveal correspondence with 24 banks that received suspension letters, while 111 documents show records of correspondence with the FDIC and cryptocurrency-related activities of other regulated institutions.
However, House Oversight and Government Reform Committee Chairman James Comer argues that full disclosure of the documents is necessary to better understand the situation. He has already requested access to uncensored FDIC documents to understand why the FDIC ordered banks to refrain from cryptocurrency projects.

He also asked them to share their experiences with the FDIC.

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#BlockchainFuture #TrendingTopic

Hackers attacking decentralized exchange (DEX) KyberSwap have been seen moving millions of digital assets from one blockchain to another.

On February 26, analytics firm PeckShield detected the moves from the attacker's wallet address to KyberSwap.
According to the #blockchain data, the hacker moved 798.8 Ether (ETH) worth nearly £2.5 million from Arbitrum to the #Ethereum network.
In addition to the £2.5 million, the hacker also transferred about $1 million in stable coins. A wallet associated with Exploiter transferred £826,500 in stable #Dai (DAI) coins to another wallet.
The KyberSwap hack was one of the biggest hacks of 2023, with DEX notifying the community on November 23 that a "security incident" had occurred and advising users to withdraw funds.
It was initially reported that around £46 million of #digital assets had been withdrawn as a result of the hack. However, it was later revealed that the total loss amounted to £49 million.
That day, the hacker also left a message online for the KyberSwap team saying that negotiations would begin "after a full rest".
In response, the KyberSwap team offered a reward of £4.6 million in exchange for 90% of the stolen funds.
However, the reward negotiations took a nasty turn when hackers began to express their dissatisfaction with KyberSwap's approach.
On November 29, the hacker posted online that he would postpone negotiations if the KyberSwap team continued to threaten legal action or threats, which the hacker described as unfriendly.
The hackers then made an unexpected demand, demanding full control of KyberSwap and all of its assets.
The hackers also claimed temporary full right and possession of KyberDAO, which acts as Kyber's governance structure, and all Kyber-related documents.
The company was given until December 10, 2023 to make a decision before the "contract expires.

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#CryptoAdoption

It's still taxpayer money, and we have a responsibility and a duty to protect it, state Rep. Stephen Kelly said on the House floor Feb. 22, adding that this type of investment is too risky

State #Rep . Bill Mercer also didn't like the idea of a Montana Investment Commission. That's not why I'm here, he said, adding, like another legislator, I smell speculation.
Montana Update: #Bitcoin Reserve Bill HB 429 failed to pass its second reading in the Montana House of Representatives. The bill was effectively repealed.
the vote was 41 to 59. The vote was largely along party lines, with many Republicans voting against the bill.
analysis However, Representative Lee Deming argued that Montana should strive to maximize the use of its tax dollars, and this bill would help with that.
If we're going to keep the tax, I think we have an obligation to get the most out of the money that's out there.
The only risk is not passing this bill, said bill sponsor Curtis Schommer, who said the Montana Investment Commission Continuing the Investment Commission's investment in bonds would result in a loss of purchasing power, he emphasized. Montana State Representative Steve Fitzpatrick said the Montana Investment Commission has a lot of bank deposits that could be better utilized by investing in precious metals and #digital assets
we can return those funds to the taxpayers and ultimately return more money, lower taxes and provide the economic relief that people have been waiting for.
Other lawmakers saw potential in Bill 429, but called for more amendments. This was the first time the Montana Business and Labor Committee voted in favor of it on February 19. It came just days after the Montana Business and Labor Committee passed Bill 429 by a 12-8 vote.
Twenty-four states, including New Hampshire, New Mexico, New Mexico, North Dakota, Ohio, Ohio, Oklahoma, Pennsylvania, South Dakota and Texas, have introduced a bitcoin reserve bill.
According to Bitcoin Laws, bills in 20 of those 24 states Utah made the most progress among U. S.
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Senator Cynthia Lummis is actively working on a bill to create a bitcoin reserve in the U.S. and has scheduled a meeting in Washington on March 11 to discuss the initiative with industry leaders, Bitwise CEO Hunter Horsley told CNBC Fast Money this week. He told CNBC Fast Money this week.

Asked about the seeming lack of movement on the possibility of creating a strategic #bitcoin reserve in the U. S. , Horsley confirmed that the concept is definitely in play.
It's one of the things we need to evaluate. . It was in President Trump's executive order shortly after he took office. It's on the Treasury Department's agenda, Horsley said. Senator Lummis is working on a related bill.
Moreover, on March 11, she will be hosting a meeting where I and many other CEOs will be in Washington, D. C. , to discuss this initiative, he added.
Horsley also noted that various countries are embracing bitcoin, citing the recent purchase of bitcoin by investment firm Mubadala as an example. According to recent SEC filings, Abu Dhabi's sovereign wealth fund invested about $437 million in Blackrock's bitcoin fund, iShares Bitcoin Trust.
According to the Bitwise co-founder, about 11 countries are now using bitcoin to some degree. to some degree. are using bitcoin. This fact confirms the legitimacy of bitcoin as a strategic asset.
Believe it or not, but it is quite real, he said.
Bitcoin's exchange rate has been volatile in recent weeks amid macroeconomic uncertainty. On Thursday, BTC fell below $80000 for the first time since November.
Commenting on bitcoin price volatility, Horsley said it is a well-known feature of #digital assets, but it still surprises people.
He said that historically, the first quarter is the best time for investors to
Mr. Horsley also noted that during this period of bitcoin price volatility, Bitwise has attracted the attention of more traditional investors such as asset managers, wealth managers and banks.
I think price is always the story in this sector.

the US Securities and Exchange Commission recently dismissed enforcement actions against #Coinbase and #Uniswap .

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#DigitalCurrency