New US Bill Seeks Reporting On Environmental Impact Of Crypto Miners – December 9

πŸ“ˆ 30 Second Cryptocurrency Price Summary

Current Bitcoin Price:Β $17,172

Bitcoin price has reclaimed the $17,000 mark once again, trading within a small range above the level over the last 24 hours.

Top-20 altcoins have seen small gains, as Ethereum and a handful of other tokens (Solana, Uniswap, Avalanche) rise 2%, while BNB advances 1%.

Top Stories for December 9, 2022 πŸ”₯

πŸ‘‰ New US Bill Seeks Reporting On Environmental Impact Of Crypto Miners

Three US lawmakers have introduced legislation that would require the Environmental Protection Agency (EPA) to report on the energy usage and environmental impact of crypto miners.

California Representative Jared Huffman and Massachusetts Senator Ed Markey said that Bitcoin miners consumed roughly 1.4% of the US’s electricity. The lawmakers introduced the Crypto-Asset Environmental Transparency Act to instruct the EPA to report on mining activity consuming more than five megawatts.

The bill cited concerns over climate change and claimed miners cause “noise and water pollution”.

πŸ‘‰ Bybit Exchange Introduces New KYC Requirements

Crypto exchange Bybit has announced that it will require updated Know-Your-Customer (KYC) verification checks for certain products from December 15th.

This will apply to one-click buys, fiat deposits, and peer-to-peer trading, as well as NFT purchases and sales of over $10,000 on the secondary marketplace. Compulsory KYC for NFT deposits, withdrawals, and purchases on the primary marketplace will be enforced from December 30th.

The exchange has also stated that it may further expand its KYC requirements in the future.

πŸ‘‰ Grayscale Launches DeFi-Focused “DEFG” Fund

Digital asset manager Grayscale Investments has launched a decentralized finance (DeFi) fund that is trading on over-the-counter markets.

The new DeFi fund is designed to give investors exposure to a basket of digital assets via a single investment vehicle on the stock market, rather than buying the cryptocurrencies directly. It tracks the CoinDesk DeFi Index.