Regulatory Boost for Bitcoin Mining in Brazil Amid Stablecoin Peg Wobble
Regulatory Boost for Bitcoin Mining in Brazil Amid Stablecoin Peg Wobble
Recent events highlight varied dynamics in the crypto market. One article details a brief de-pegging incident for a significant stablecoin, attributed to a coordinated attack, which quickly recovered. Another report focuses on a positive regulatory development for Bitcoin, as Brazil eliminates import duties on specialized mining hardware, potentially fostering a shift towards renewable energy sources for mining operations.
Stablecoin Peg Wobbles Amid Coordinated Attack
World Liberty Financial's stablecoin slipped to $0.994 on Feb. 23, a 0.6% deviation that lasted minutes before recovering. For a token backed one-to-one by dollars and government money market funds, with over $5 billion in circulation and the fifth-largest market share among stablecoins, the wobble wasn't supposed to happen. But it did, and the gap […]
Brazil Boosts Bitcoin Mining with Zero Import Duty
On Feb. 20, Brazil's foreign trade council published a technical resolution reducing import duties to zero for a narrow class of hardware: SHA256 Bitcoin miners exceeding 200 terahashes per second with energy efficiency below 20 joules per terahash. Three days later, French state-owned energy giant Engie told Reuters it was considering installing Bitcoin miners at […]