Joe Biden's White House is expected to issue an executive order in the coming weeks on the actions that the US government will take regarding digital assets. The White House wants to bring order to the ‘haphazard approach’ that is currently being employed by regulators to Bitcoin and cryptocurrency. The order is set to come under the umbrella of national security efforts as the administration seeks to analyze cryptocurrencies and employ a cohesive regulatory framework that would cover cryptocurrencies, stablecoins, and NFTs.
$8 Billion New York Commercial Bank to Offer Bitcoin Service
Flushing Financial Corporation, the parent company of New York-based Flushing Bank, has partnered with crypto firm New York Digital Investment Group (NYDIG) to offer Bitcoin (BTC) services to its customers. The bank was founded in 1929 and had assets of more than $8 billion with net income of about $200 million at the end of 2021, according to the fourth quarter report.
IRS Special Agent: "Crypto is Future, But Fraud Everywhere"
A special agent from the Internal Revenue Service (IRS) says that the tax office has highlighted mountains of fraud in this crypto area. The IRS criminal investigation unit is trying to train all its agents on cryptocurrency and NFT issues because “this space is the future,” Korner said.
Axie Infinity's Blockchain Launches Governance Token
Sky Mavis, the founder of Axie Infinity, has launched the RON token, which will govern the Ronin blockchain. The founder of the blockchain game Axie Infinity created the Ronin blockchain to scale the game’s success.
The Sandbox (SAND) Announces $50,000,000 Accelerator Fund for Metaverse Start-Ups
Popular gaming crypto The Sandbox (SAND) is partnering up with a global venture company to open an acceleration fund for developing metaverse start-ups. According to a news release, SAND will invest $250,000 in 100 new metaverse altcoins.
XLM Smart Contracts Are Coming to Stellar Network
Smart contracts are set to be launched on the Stellar ($XLM) network, as the Stellar Development Foundation (SDF) keeps looking at new ways to “further trust-minimized innovation” and enable “equitable access to the financial system.”
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