Sen. Elizabeth Warren Introduces Crypto Bill Targeting Russia – March 17

πŸ“ˆ 30 Second Cryptocurrency Price Summary

Current Bitcoin Price:Β $40,762

Bitcoin price has picked up from around yesterday’s levels, continuing to sit in the high $40,000s to begin Thursday.

Top-20 altcoins continue to perform, as Ethereum and BNB each gain 3%, XRP rises 2% and Avalanche leads with a 14% gain.

Top Stories for March 17, 2022 πŸ”₯

πŸ‘‰ Sen. Elizabeth Warren Introduces Crypto Bill Targeting Russia

Senator Elizabeth Warren has introduced a new crypto-related bill that focuses on enforcing sanctions on Russia.

According to a leaked draft, the Digital Asset Sanctions4Compliance Enhancement Act would require a report on all crypto companies affiliated with Russia. It would also enable the Treasury to block any services from transacting with addresses linked to the country.

It has also been noted that the bill provides a very ambiguous definition for “digital asset transaction facilitators”, which will likely be contested.

πŸ‘‰ Do Kwon Confirms Purchase Of $10B BTC Is Underway For UST Reserves

Terra blockchain founder Do Kwon has confirmed the the purchase of $10 billion worth of Bitcoin is already underway, for Terra USD (UST) reserves.

Bitcoin was chosen earlier this year as a supplementary asset to back the popular UST token, due to its lower volatility and decentralized nature. UST is currently mostly backed by Terra’s LUNA token and has a market cap of over $15 billion.

πŸ‘‰ Mina Foundation Raises $92M For Adoption Efforts

The Mina Foundation, behind the zero-knowledge proof Mina protocol, has raised $92 million via a token sale to begin pushing for adoption of the network.

The funding round included leading investments from FTX Ventures and Three Arrows Capital, with further contributions by, Circle Ventures and more.