EU Rule Banning Proof-of-Work Rejected in Parliament Vote – March 14


πŸ“ˆ 30 Second Cryptocurrency Price Summary

Current Bitcoin Price:Β $38,697

Bitcoin price has kicked off the week in the $38,000s, following some very choppy sideways action over the weekend.

Top-20 altcoins have mostly seen small drops over the last 24 hours of price action, as Ethereum and BNB fall less than 2%, XRP drops 4% and Terra remains unchanged.

Top Stories for March 14, 2022 πŸ”₯

πŸ‘‰ EU Rule Banning Proof-of-Work Rejected in Parliament Vote

A proposed rule that could have banned proof-of-work (PoW) in the European Union has been rejected by the monetary affairs committee.

The rule looked to restrict the use of digital assets that used PoW mining across all of the EU’s 27 member states. It was voted that the suggested provision would be kept out of the “Markets in Crypto Assets” (MiCA) framework, which is being put together to regulate digital assets.

πŸ‘‰ El Salvador May Sell “Volcano Bond” Backed By Bitcoin

El Salvador is looking to sell around $1 billion worth of “volcano bonds” – debt backed by Bitcoin – in order to steer clear from taking a loan form the IMF.

Finance Minister Alejandro Zelaya has reportedly stated that March 15-20 is the right time to sell the bonds. The Bitcoin backing the debt will be mined using El Salvador’s geothermal energy – hence the name “volcano bond”.

πŸ‘‰ CoinJoin Bitcoin Mixing Service To Block Illicit Funds

Popular Bitcoin mixing service CoinJoin will be blocking transactions that have been identified as coming from illegal sources. The move will also affect Wasabi Wallet, a privacy-focused wallet that incorporates CoinJoin.

The service will block certain unspent transaction outputs (UTXOs) from registering when using the “zkSNACKs” coordinator – a virtual machine that mixes the origin of the transactions. Other coordinators may still be used as normal.