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What is ORC-20? Guide to minting ORC-20 tokens
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The United Kingdom could potentially regulate cryptocurrencies similarly to gambling, according to critics. If UK lawmakers were to follow their approach, the industry could soon be subject to regulations akin to those imposed on casinos. A recent report from a parliamentary group outlined clear risks associated with unsupported cryptocurrencies, highlighting their lack of intrinsic value and extreme price volatility. These findings suggest that users experience significant gains or losses, resembling gambling more than a financial service. "We are concerned that regulating investment activity and retail transactions involving unsupported cryptocurrencies as a financial service would create a 'halo' effect, leading users to believe that the activity is safer or protected when it is not" #crypto2023
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The difficulty of mining Bitcoin has reached a new all-time high. On Thursday, it increased by 3.22%, driven by a record-high network hash rate. The difficulty adjusts approximately every two weeks and measures the level of work a miner needs to perform to verify transactions on a block. A higher difficulty indicates increased competition in Bitcoin mining. The mining difficulty data reached 49.55 trillion at block height 790,272 during the adjustment on Thursday. #BTC
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Circle is transferring $8.7 billion USD into repo agreements to protect its reserves from the potential default of the US government. USDC issuer, Circle, is moving $8.7 billion USD into repo agreements, hoping to safeguard against the risk of default by the US government. Circle's reserve fund, managed by global investment giant BlackRock, has added money to overnight repo agreements as part of its investment portfolio since May 16, according to the fund's website. A spokesperson for Circle stated, "While this plan has been in progress for several months, including these highly liquid assets also provides additional protection for the USDC reserve in the event of a US default that is uncertain." Circle's CEO, Jeremy Allaire, has also expressed concerns about the potential default of the US government.
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