Lawmakers are stockpiling bullion and exploring gold-backed debit cards as concerns about the dollar and federal debt grow.
Cash comprised 16 percent of payments during a month-long survey in 2023, compared to 31 percent seven years prior. But cash still remains pervasive among lower-income and older consumers.
Earlier this month, bitcoin’s value rose to an all-time high of more than $73,000. The cryptocurrency has had a highly variable performance in the market, but Miami continues to embrace it.
The Effingham City Council unanimously approved an amendment to the city’s zoning ordinance to regulate cryptocurrency mines and data centers, including their noise generation and physical locations.
Future in Context
New and growing GovTech100 companies are likely to have an outsized role in making government better. Many now come with deep pockets thanks to investments from private equity.
The state’s Division of Motor Vehicles will now take online payments of cryptocurrency through PayPal for drivers’ licenses, identification cards, vehicle registrations or other online services.
A former executive at the disgraced cryptocurrency exchange FTX donated $500,000 to the state’s Democratic Party under a false name. Here are the events that led up to the misreported donation and Oregon’s response.
The state’s attorney general is pressing lawmakers to pass legislation that reduces potential conflicts of interest, requires more public reporting and improves protections for investors within the cryptocurrency industry.
MyEListing allows Texans to list commercial and residential properties in either cash or cryptocurrency. One property is available for $500,000 cash, 17.5 bitcoin or 256 etherium.
In Oregon, data centers and cryptocurrency miners would have to adhere to the same standards as big private utilities. If the bill passes, violation of the rules would result in hefty penalties and withheld tax breaks.
Despite the high-profile collapse of crypto trading platform FTX, the Legislature’s Work Group on Blockchain Matters has established a master plan to propel the state to the forefront of the $5 billion industry.
Auditors revealed that the cyber attack led to money being misappropriated but that port officials have been able to recover approximately $250,000 through insurance so far. The agency has since received federal aid to boost security.
Blockchain technology is starting to revamp corporate governance. There are those who believe it could revamp local government as well.
The enormous energy demands of Bitcoin mining are prompting some U.S. municipalities to impose moratoriums or outright bans on cryptocurrency facilities. Bitcoin mining activity, critics warn, is leading to electricity price hikes and a revival of dirtier sources of power.
The Department of Environmental Conservation rejected an air permit to the power plant near Seneca Lake that used most of its electricity generation to mine the cryptocurrency. Many see it as an environmental win.
Several democratic local officials from the region have said that they won’t vote for Gov. Kathy Hochul if she doesn’t crack down on crypto mining operations across the state, for fear of the industry’s environmental impacts.
Most Read
