Tag: South

Proposed South Carolina Bill Lets State Treasurer Invest 10% Of State Funds In Bitcoin

coiner

Yesterday, Rep. Jordan Pace reintroduced Bill H. 4256, The “Strategic Digital Assets Reserve Act Of South Carolina”, into South Carolina’s House of Representatives. Highlights from the bill include the fact that it enables the State Treasurer to invest up to 10% of the funds under the state’s management into digital assets, including bitcoin, and that the state’s Strategic Digital Assets Reserve can include up to one million bitcoin. The bill also states that the reason for establishing such a reserve is because “inflation has eroded the purchasing power of assets…

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Latam Insights: South African Ponzi Scheme Boss Dies in Brazil, Argentine House Passes Crypto Tax Regularization Bill

coiner

Welcome to Latam Insights, a compendium of Latin America’s most relevant crypto and economic news during the last week. In this issue: South African Ponzi scheme mastermind dies of a heart attack in Brazil, the Argentine House advances crypto tax regularization bill, and Buenos Aires targets Worldcoin with a new bill. South African Ponzi Scheme […] Source link

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Noones CEO Ray Youssef Blasts Bitcoin Fees: ‘We Have Failed the Global South’

coiner

Ray Youssef, the former Paxful CEO, has commented on the negative impact of high transaction fees on bitcoin adoption in emerging markets. Youssef stated on social media that the recent developments in the bitcoin fee market have pushed users to alternatives such as USDT on the Tron blockchain over bitcoin in Global South countries. Noones […] Source link

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OpenAI CEO highlights South Korean chips sector for AI growth, investment

coiner

Sam Altman, the CEO of ChatGPT developer OpenAI, met with South Korean President Yoon Suk Yeol on June 9 and urged South Korea to play a leading role in manufacturing the chips needed for artificial intelligence (AI) technology. Altman also expressed an interest in investing in Korean startups and collaborating with bigger chipmakers like Samsung Electronics.  According to local news media, the CEO suggested South Korea should focus on chips — as both system semiconductors and memory chips are needed for AI — and reduce corporate regulations to foster AI…

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SEC lawsuit against Binance stalls Gopax acquisition deal in South Korea

coiner

The United States Securities and Exchange Commission’s (SEC) lawsuit against Binance could damage the crypto exchange’s business opportunities in South Korea. A report published in a South Korean daily suggests that the Financial Service Committee (FSC) — the country’s financial watchdog — is reviewing Binance’s acquisition of local crypto trading platform Gopax. Binance acquired a majority stake in Gopax in February, intending to reenter the South Korean crypto market after a two-year hiatus. The FSC has reportedly suspended Gopax’s executive change report filed on March 7, citing the recent SEC lawsuit. The…

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