Morewine

• South Dakota Governor Kristi Noem vetoed a bill that would have excluded cryptocurrencies like Bitcoin from the definition of money.
• The bill classified Central Bank Digital Currencies (CBDCs) as money instead, creating a loophole for the federal government to adopt them.
• Critics argued that the bill would only legalize CBDCs while outlawing other digital assets, prompting Gov. Noem to veto it.

South Dakota Governor Vetoes Bill Excluding Crypto From Money Definition

South Dakota governor Kristi Noem has formally rejected legislation that would have excluded bitcoin (BTC) and other cryptocurrencies from being defined as „money“ in the state. House Bill 1193, introduced by Republican Mike Stevens, was intended to amend provisions of South Dakota’s Uniform Commercial Code but instead opened the door for central bank digital currencies (CBDCs) to be adopted by the federal government.

What Was Included in HB 1193?

The 117-page bill defined money as a medium of exchange only if it is „authorized or adopted“ by a government, thereby excluding privately created digital currencies such as bitcoin (BTC). This meant that while CBDCs such as China’s Digital Yuan were classified as money, all other digital assets were not.

Criticism of HB 1193

Critics believed this bill would make it so that only governments could create „money,“ legalizing CBDCs while outlawing all other digital assets. Dennis Porter, CEO and co-founder of Satoshi Action Fund, stated there is an attempt to push this policy in 21 different states across the U.S., which could lead to a coalition of pro-CBDC states where crypto is not recognized as money.

Gov. Noem’s Veto

Explaining why she vetoed the bill, Gov. Noem said explicitly excluding crypto as money would disadvantage South Dakota residents when trading with people in other states and limit their ability to use their crypto holdings freely. She also noted that the legislation could create a loophole for the federal government to adopt central bank digital currencies and make them the only viable forms of digital currency available in America.

Conclusion

In conclusion, Gov. Noem’s decision to veto House Bill 1193 is widely seen as beneficial for cryptocurrency users in South Dakota and beyond who will now be able to continue using their crypto without fear of government interference or restrictions on its usage within the state boundaries

• Tron’s native token (TRX) has experienced a 13.6% price increase over the past 30 days, outperforming Bitcoin and Ethereum.
• Factors influencing TRX’s market performance include demand and supply, network development, market sentiment, and macroeconomic factors.
• Recent developments on the Tron network include a rapid surge in burned TRX tokens and an increase in burning activity.

TRX Price Up 13.6%

The past month has seen many cryptocurrencies experience upward price changes, with the Tron network’s native token (TRX) being one of them. According to CoinMarketCap data, TRX was trading at about $0.06073 on Jan 25th and reached a high of $0.07249 on Feb 20th – representing an 19.36% hike from its Jan 25th price. Currently, TRX is priced at $0.06902 – a 13.6% rise over the past month despite Bitcoin and Ethereum losing their last day’s gains throughout this time period as well as decreasing total market value for all cryptos.

Factors Influencing TRX Market Performance

The prices of cryptocurrencies are often impacted by demand & supply dynamics, network development initiatives, market sentiment & macroeconomic factors such as geo-political events or regulation changes amongst others. CoinStats‘ Fear and Greed Index currently places TRON’s market sentiment at 53 – firmly in the greed category; further adding to positive momentum for its price movement over the past few weeks..

TRON Network Developments Drive Activity

The Tron network is working hard to bolster its community by introducing new projects and initiatives that demonstrate its creators’ vibrancy & enthusiasm for improvement & progress across various fronts; including scalability & sustainability efforts etc., . On Feb 20th -the day that TRX hit its highest level in the last 30 days -Tron released a report highlighting significant network changes -including a rapid surge in burned TRX tokens which topped 15 billion -leading many to suggest further deflationary pressure upon the coin’s price going forward..

Burning Activity Up 60%

Over recent weeks there has been an observed increase in burning activity on Tron according to data from TronScan; with daily token burn rates increasing by 60% from the previous month alone due to multiple factors including increased staking rewards & transaction fees amongst others.. Moreover, other developments such as smart contract deployment have also led to additional fees being burnt leading experts to believe that higher levels could be sustained going forward..

Conclusion The present situation looks positive for TRON overall with multiple drivers contributing towards increased activity across various aspects of its ecosystem allowing it to retain its strong upwards price trend despite downward pressures from other coins within its space.. This suggests further increases may be expected going forward although caution should still be used when investing during these volatile times..

• Connext and Optimism Protocol have launched a donation system to help victims of the earthquake in Turkey and Syria.
• The system allows for noncustodial donations, ensuring transparency and accountability.
• Optimism Protocol has also launched Optimism Agora, an on-chain governance portal.

Earthquake Relief Donation System Launched

As Turkey recovers from the earthquake that took thousands of lives, several blockchain projects have launched donation campaigns to assist the affected regions. Connext, a decentralized exchange and payment network, announced they had created a system to allow TurkeyReliefDAO to accept donations across multiple chains. Shortly after this announcement, Optimism Protocol tweeted that they had set up a donation address through which people could send support directly to the affected areas. This coordinated effort by Connext and Optimism Protocol is an example of how blockchain can be leveraged for social good, allowing people to contribute without relying on centralized intermediaries.

Benefits of Non-Custodial Donations

By creating a system for noncustodial donations, these organizations are enabling people to contribute to relief efforts with transparency and accountability. This helps ensure funds reach those in need quickly and efficiently. Additionally, non-custodial donations reduce the overhead costs associated with traditional methods of donating as there is no need for any middlemen or fees associated with transferring money across borders or through different currencies.

Launch of Optimism Agora

Optimism Protocol also announced the launch of Optimism Agora – an on-chain governance portal built by Agora that brings Token House votes to full on-chain operations. This new addition will enable users to directly cast their votes using tokens stored in their wallets rather than relying on third party voting services – providing more security and reducing operational costs associated with polling activities such as audits or data analysis services traditionally used in voting processes.

Blockchain Projects Assist Earthquake Victims

The launch of this donation system as well as other initiatives taken by blockchain projects demonstrate how technology can be used for social good in times of crisis – providing fast access to resources that can help those affected rebuild their lives faster than ever before possible before blockchain was available. By utilizing these technologies, relief efforts can be made more efficient while still being accountable and transparent with funds going directly where it is needed most without any custodians involved in between steps making it easier for those who wantto donate but do not know how or lack access due financial restrictions they may face otherwise when donating through traditional methods like banks etc..

Conclusion

The emergence of blockchain technology has enabled unprecedented levels of efficiency when it comes to social good initiatives such as aiding those affected by natural disasters such as earthquakes, floods or other calamities around the world – making it much easier for donors to provide direct support wherever needed faster than ever before possible thanks its non custodial nature which eliminates middlemen fees & provides greater transparency & accountability overall when compared against traditional methods used prior its integration into aid relief systems globally .

• North Korean hackers allegedly laundered another tranche of funds stolen last year from Harmony’s Horizon Bridge.
• The hackers allegedly moved 11,304 Ethereum (ETH) over the weekend, worth approximately $17.7 million.
• Crypto investigator ZachXBT claims the funds were consolidated into two primary addresses before being sent to six different crypto exchanges.

According to a self-styled crypto investigator going by the social media moniker ZachXBT, actors allied to the Democratic People’s Republic of Korea (DPRK) have laundered another tranche of funds stolen last year from Harmony’s Horizon Bridge. Over the weekend, the hackers allegedly moved 11,304 Ethereum (ETH) worth approximately $17.7 million.

The crypto analyst claims that the rogue state, or people acting on its behalf, consolidated the stolen funds into two primary addresses before sending them to six different crypto exchanges. He then added that he had discovered another address with 5,974 ETH worth $9.4 million, bringing the entire haul laundered over the weekend to 17,278 ETH with a market value of $27.1 million.

At the time of writing, ZachXBT had mapped out 895 bitcoin (BTC) withdrawals to 14 addresses from the exchanges. At current rates, the BTC withdrawn by the hackers is worth about $20.6 million. This is not the first time the Lazarus Group, the team reportedly behind the $100 million Harmony Bridge hack, has allegedly laundered funds. On Jan. 15, the same crypto investigator claimed that the hackers had moved 41,000 ETH worth $63.5 million.

The hackers reportedly laundered the money through Railgun, a privacy and anonymity protocol. It is unclear at this time if the six exchanges that received the ETH over the weekend have taken any action to freeze the funds or if the hackers have been able to withdraw any of the ETH. It is also unclear if the funds were used to purchase any other digital currencies or if they were sent to any other crypto exchanges.

• Argo Blockchain announced that they have regained compliance with Nasdaq Listing Rules after fulfilling the minimum bid price required.
• The cryptocurrency miner had received a notice from Nasdaq on Dec. 16, 2022, stating that their stock closed below the minimum $1.00 for 30 consecutive trading days.
• Argo fulfilled the requirement on Jan. 13, 2023 and Nasdaq has confirmed the matter to be closed.

Argo Blockchain, a major cryptocurrency mining company, has won back compliance with Nasdaq Listing Rules after fulfilling the minimum bid price required by Nasdaq. On January 23, 2023, Argo Blockchain released a press statement announcing that they had received a notification from Nasdaq’s Listing Qualifications Department informing them that they had regained compliance with the listing rule of the American stock exchange giant.

The cryptocurrency miner had received a notice from Nasdaq on December 16, 2022, stating that the company’s stock closed below the minimum $1.00 for 30 consecutive trading days. This meant that Argo was required to rectify the situation by June 12, 2023. Fortunately, Argo fulfilled the requirement on January 13, 2023 and Nasdaq has confirmed the matter to be closed.

The news of Argo’s compliance with Nasdaq’s rules comes as a relief to the company, who had been facing liquidity issues and making efforts to avoid filing for bankruptcy. The company had even asked the UK Financial Conduct Authority (FCA) to restore trading of its ordinary shares on the London Stock Exchange in an effort to raise enough funds to keep their operations going.

With Argo now back in compliance with Nasdaq’s rules, the company can rest assured that their stock will remain on the exchange. This will give Argo the opportunity to continue their operations and serve as a beacon of hope for other cryptocurrency miners in similar situations.