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US Fed Cracks Down on Crypto-Banking : Texas Bank Hit with Cease-and-Desist Order
#USFederal #USFed #usdoller #Texas
#BinanceSquareFamily
The US Federal Reserve has issued a cease-and-desist order against United Texas Bank, citing "significant deficiencies" in its anti-money laundering (AML) compliance related to its crypto dealings.
The Dallas-based bank, one of the few remaining US lenders serving crypto firms, must submit a corrective action plan within 90 days.
This comes as part of a broader crackdown by the Fed on banks working with crypto companies, following the collapse of Signature and Silvergate banks in 2023.
Many US crypto firms are now facing increased difficulties securing banking partners, as regulatory scrutiny intensifies and banks shy away from crypto exposure.
#USFederal #USFed #usdoller #Texas
#BinanceSquareFamily
The US Federal Reserve has issued a cease-and-desist order against United Texas Bank, citing "significant deficiencies" in its anti-money laundering (AML) compliance related to its crypto dealings.
The Dallas-based bank, one of the few remaining US lenders serving crypto firms, must submit a corrective action plan within 90 days.
This comes as part of a broader crackdown by the Fed on banks working with crypto companies, following the collapse of Signature and Silvergate banks in 2023.
Many US crypto firms are now facing increased difficulties securing banking partners, as regulatory scrutiny intensifies and banks shy away from crypto exposure.
Texas Legislators Approve Digital Currency Protection in State's Bill of Rights
Texas lawmakers overwhelmingly passed an update to the state's Bill of Rights, granting Texans the right to own and use digital currencies. Bill HJR 146, introduced by State Representative Giovani Capriglione, received strong support with 139 votes in favor and only two against. The bill aims to protect financial privacy and prevent the devaluation of wealth. It is seen as a favorable alternative to banning central bank digital currencies (CBDCs), rendering them worthless instead. The bill will proceed to further votes before potentially becoming law.
#Binance #crypto2023 #cbdc #Texas #DigitalCurrency
Texas lawmakers overwhelmingly passed an update to the state's Bill of Rights, granting Texans the right to own and use digital currencies. Bill HJR 146, introduced by State Representative Giovani Capriglione, received strong support with 139 votes in favor and only two against. The bill aims to protect financial privacy and prevent the devaluation of wealth. It is seen as a favorable alternative to banning central bank digital currencies (CBDCs), rendering them worthless instead. The bill will proceed to further votes before potentially becoming law.
#Binance #crypto2023 #cbdc #Texas #DigitalCurrency
Graham Steele, a representative of the #U.S. Treasury, advised attendees at a #Texas payments conference that a future #CBDC in the #UnitedStates should take privacy into account.
BitDeer Generates $75 Million Through Cloud Mining, $60 Million In Hosting Segment
BitDeer, a subsidiary of former Bitmain co-founder Jihan Wu, has revealed that its operational capacity has surged to 562 MW at the end of 2022. The company has powered 4.2 EH/s and 6.3 EH/s in proprietary mining and hosting hashrate, respectively, as of June 2022.
BitDeer has made a significant leap in capacity from its operational capacity of 280 MW in September 2021, thanks to the construction in Rockdale, Texas. The company has achieved an operational capacity of 386 MW as of June 2022 and increased the developed capacity of the Texas site to 562 MW by the end of 2022.
The new figures place BitDeer in direct competition with Riot, which claims to have 700 MW in developed capacity in the same Texas city. BitDeerâs diversified business models include proprietary mining, hashrate sharing, and hosting. The company generated $75 million through hashrate sharing, similar to selling cloud mining contracts using its own hashrate.
@azcoinnews
The companyâs revenue diversification breakdown indicates that BitDeerâs three segments played a more equal role in revenue contribution in 2022 compared to previous years. Notably, the revenue from the hosting segment increased from $26 million in FYâ21 to $60 million in the first half of 2022 alone.
@azcoinnews
Texas remains the largest mining hub in North America with about two gigawatts of operating capacity as of Q4 2022, according to an updated North American mining power distribution map by TheMinerMag. Despite industry headwinds, Bitcoin mining is booming in Texas, as reported by Reuters. BitDeerâs success in Texas is a testament to the stateâs friendly regulatory environment for crypto miners.
#Bitdeer #RIOT #Texas #Bitcoinmining #azcoinnews
This article was republished from azcoinnews.com
BitDeer has made a significant leap in capacity from its operational capacity of 280 MW in September 2021, thanks to the construction in Rockdale, Texas. The company has achieved an operational capacity of 386 MW as of June 2022 and increased the developed capacity of the Texas site to 562 MW by the end of 2022.
The new figures place BitDeer in direct competition with Riot, which claims to have 700 MW in developed capacity in the same Texas city. BitDeerâs diversified business models include proprietary mining, hashrate sharing, and hosting. The company generated $75 million through hashrate sharing, similar to selling cloud mining contracts using its own hashrate.
@azcoinnews
The companyâs revenue diversification breakdown indicates that BitDeerâs three segments played a more equal role in revenue contribution in 2022 compared to previous years. Notably, the revenue from the hosting segment increased from $26 million in FYâ21 to $60 million in the first half of 2022 alone.
@azcoinnews
Texas remains the largest mining hub in North America with about two gigawatts of operating capacity as of Q4 2022, according to an updated North American mining power distribution map by TheMinerMag. Despite industry headwinds, Bitcoin mining is booming in Texas, as reported by Reuters. BitDeerâs success in Texas is a testament to the stateâs friendly regulatory environment for crypto miners.
#Bitdeer #RIOT #Texas #Bitcoinmining #azcoinnews
This article was republished from azcoinnews.com
đ°đ Austin, Texas Makes History: $1.3 Million Distributed to Needy Residents! đșđČđ€
In a bold and pioneering move, Austin, Texas, the 10th largest city in the US, is breaking barriers by allocating a staggering $1.3 million through its expanded "Family Stabilization Grant Program."
This visionary program, designed to aid 135 households, builds upon the resounding success of its initial 2022-2023 pilot, which provided $1,000 per month to low-income families with no strings attached.
According to the Urban Institute, participants in the pilot predominantly directed the funds towards housing, resulting in significant enhancements in housing security. Employment rates remained steady, with a mere 9 percent reporting reduced working hours. Notably, half of the participants utilized the additional time to "skill up" for future endeavors, while the other half took on caregiving responsibilities.
Food security witnessed a steady uptick throughout the pilot, showcasing the transformative impact of guaranteed income on meeting essential needs.
While mental health indicators generally showed improvement, certain metrics, such as persistent worry, saw marginal setbacks at the conclusion of the 12-month period. This underscores the importance of continual evaluation and adjustments to ensure the holistic well-being of program participants.
Meanwhile, in Harris County, Texas, a parallel initiative is underway, with 1,928 households slated to receive $500 per month for eighteen months in a separate basic income trial. These groundbreaking endeavors signify a promising shift towards fostering financial security and stability for individuals and families facing economic hardship.
As these innovative programs unfold, they serve as a beacon of hope and inspiration, setting a precedent for other cities and counties to follow suit. Together, we embark on a journey towards creating a more equitable and supportive future for all. đ±đ«
#Texas #usa #Write2Earn #TrendingTopic #BTC
In a bold and pioneering move, Austin, Texas, the 10th largest city in the US, is breaking barriers by allocating a staggering $1.3 million through its expanded "Family Stabilization Grant Program."
This visionary program, designed to aid 135 households, builds upon the resounding success of its initial 2022-2023 pilot, which provided $1,000 per month to low-income families with no strings attached.
According to the Urban Institute, participants in the pilot predominantly directed the funds towards housing, resulting in significant enhancements in housing security. Employment rates remained steady, with a mere 9 percent reporting reduced working hours. Notably, half of the participants utilized the additional time to "skill up" for future endeavors, while the other half took on caregiving responsibilities.
Food security witnessed a steady uptick throughout the pilot, showcasing the transformative impact of guaranteed income on meeting essential needs.
While mental health indicators generally showed improvement, certain metrics, such as persistent worry, saw marginal setbacks at the conclusion of the 12-month period. This underscores the importance of continual evaluation and adjustments to ensure the holistic well-being of program participants.
Meanwhile, in Harris County, Texas, a parallel initiative is underway, with 1,928 households slated to receive $500 per month for eighteen months in a separate basic income trial. These groundbreaking endeavors signify a promising shift towards fostering financial security and stability for individuals and families facing economic hardship.
As these innovative programs unfold, they serve as a beacon of hope and inspiration, setting a precedent for other cities and counties to follow suit. Together, we embark on a journey towards creating a more equitable and supportive future for all. đ±đ«
#Texas #usa #Write2Earn #TrendingTopic #BTC
A proposed 25% tax on unrealized gains would undoubtedly stir significant controversy, and if....
A proposed 25% tax on unrealized gains would undoubtedly stir significant controversy, and if Vice President Kamala Harris were to support such a measure, it could lead to substantial backlash. Unrealized gains refer to the increase in value of an asset that has not yet been sold. Taxing these gains before they are realized could be seen as unfair, as it forces individuals to pay taxes on income they have not actually received.
Critics argue that this type of taxation could particularly hurt small investors, retirees, and those who rely on long-term investments for financial security. It might also create economic instability, as investors could be forced to sell assets prematurely to cover the tax bill, potentially leading to market volatility.
Furthermore, implementing such a tax would be administratively complex and could face legal challenges. Many see it as a radical departure from traditional tax principles, where taxes are typically levied on actual income or profits.
If Kamala Harris were to push for such a policy, it could alienate moderate voters and further polarize the political landscape, leading to significant opposition and potentially harming her political standing.#KamalaHarris2024 #Texas #VOTEme #kamala
Critics argue that this type of taxation could particularly hurt small investors, retirees, and those who rely on long-term investments for financial security. It might also create economic instability, as investors could be forced to sell assets prematurely to cover the tax bill, potentially leading to market volatility.
Furthermore, implementing such a tax would be administratively complex and could face legal challenges. Many see it as a radical departure from traditional tax principles, where taxes are typically levied on actual income or profits.
If Kamala Harris were to push for such a policy, it could alienate moderate voters and further polarize the political landscape, leading to significant opposition and potentially harming her political standing.#KamalaHarris2024 #Texas #VOTEme #kamala
Texas Senator discloses up to $100K BTC after blockchain endorsement
30X Profit Expected from AIG Token: AI Games has launched its native token (AIG). 1 AIG Token Price Is $0.01 & Exchange Listing Price $0.30, Donât miss this opportunity; join the pre-sale at the official website (PlayAiGames.Online)
Ted Cruz, the junior United States senator representing Texas, disclosed he purchased up to $100,000 worth of Bitcoin through financial services firm River Financial.
In an Aug. 13 disclosure filing with the US Senate, Cruz revealed he bought between $50,001 and $100,000 worth of Bitcoin (BTC) as part of his personal holdings in 2023. The filing came just one day after the advocacy group Texas Blockchain Council endorsed the senator for his 2024 reelection campaign, highlighting his views on crypto.
The Texas senator also reported he purchased Bitcoin in 2022, declaring between $15,001 and $50,000 worth of the cryptocurrency. His 2023 disclosure form did not include three BTC miners he claimed to have purchased in May, which will likely be officially reported sometime in 2025.
#Texas #US #Crypto #Trum #Bitcoin $BTC $ETH $SOL
30X Profit Expected from AIG Token: AI Games has launched its native token (AIG). 1 AIG Token Price Is $0.01 & Exchange Listing Price $0.30, Donât miss this opportunity; join the pre-sale at the official website (PlayAiGames.Online)
Ted Cruz, the junior United States senator representing Texas, disclosed he purchased up to $100,000 worth of Bitcoin through financial services firm River Financial.
In an Aug. 13 disclosure filing with the US Senate, Cruz revealed he bought between $50,001 and $100,000 worth of Bitcoin (BTC) as part of his personal holdings in 2023. The filing came just one day after the advocacy group Texas Blockchain Council endorsed the senator for his 2024 reelection campaign, highlighting his views on crypto.
The Texas senator also reported he purchased Bitcoin in 2022, declaring between $15,001 and $50,000 worth of the cryptocurrency. His 2023 disclosure form did not include three BTC miners he claimed to have purchased in May, which will likely be officially reported sometime in 2025.
#Texas #US #Crypto #Trum #Bitcoin $BTC $ETH $SOL
" Bitcoin Bonanza: Riot Unleashes Massive Mining Fleet in #Texas "
#GOATMoments #crypto2023 #BTC #bitcoin
$BTC $LTC $SOL
#GOATMoments #crypto2023 #BTC #bitcoin
$BTC $LTC $SOL
Crypto exchanges in Texas will now have to prove that they have the reserves to back up the coins they trade. This is a big win for investors, who will have more protection against fraud.
#Binance #crypto2023 #Texas
#Binance #crypto2023 #Texas
Texas City Distributes $1.3 Million To Those In Need. đșđČđ€
In a groundbreaking move, Austin, Texas, the 10th largest city in the US, is set to distribute a total of $1.3 million to those in need through its expanded "Family Stabilization Grant Program."
The program, set to assist 135 households, expands on the success of its initial 2022-2023 pilot that distributed $1,000 per month to low-income households with no strings attached.
According to the Urban Institute, participants in the pilot predominantly used the funds for housing, leading to substantial improvements in housing security. Employment remained stable, with only 9 percent reporting reduced working hours. Notably, half utilized the extra time to "skill up" for future work, while the other half took on caretaking responsibilities.
Food security showed a steady improvement throughout the pilot, highlighting the positive influence of guaranteed income on essential needs.
While mental health measures generally improved, some metrics, such as constant worry, saw worse outcomes at the end of the 12-month period. This underscores the need for ongoing evaluation and adjustments to ensure holistic well-being.
Harris County, Texas, is also part of the guaranteed income movement, with 1,928 households set to receive $500 per month for one and a half years in a separate basic income trial. These initiatives mark a promising shift towards creating a more financially secure and stable future for individuals and families in need.
As these innovative programs unfold, they set a precedent for cities and counties to explore similar paths, fostering a positive change toward economic stability and support for those facing financial challenges.
#Texas #usa #Write2Earn #TrendingTopic #BTC
In a groundbreaking move, Austin, Texas, the 10th largest city in the US, is set to distribute a total of $1.3 million to those in need through its expanded "Family Stabilization Grant Program."
The program, set to assist 135 households, expands on the success of its initial 2022-2023 pilot that distributed $1,000 per month to low-income households with no strings attached.
According to the Urban Institute, participants in the pilot predominantly used the funds for housing, leading to substantial improvements in housing security. Employment remained stable, with only 9 percent reporting reduced working hours. Notably, half utilized the extra time to "skill up" for future work, while the other half took on caretaking responsibilities.
Food security showed a steady improvement throughout the pilot, highlighting the positive influence of guaranteed income on essential needs.
While mental health measures generally improved, some metrics, such as constant worry, saw worse outcomes at the end of the 12-month period. This underscores the need for ongoing evaluation and adjustments to ensure holistic well-being.
Harris County, Texas, is also part of the guaranteed income movement, with 1,928 households set to receive $500 per month for one and a half years in a separate basic income trial. These initiatives mark a promising shift towards creating a more financially secure and stable future for individuals and families in need.
As these innovative programs unfold, they set a precedent for cities and counties to explore similar paths, fostering a positive change toward economic stability and support for those facing financial challenges.
#Texas #usa #Write2Earn #TrendingTopic #BTC
đšBREAKINGđš
U.S. SENATOR TED CRUZ ANNOUNCED THAT HE BOUGHT 3 BITCOIN MINERS AND STARTED MINING IN TEXAS.
#MiningToMillions #BTC #Texas #Update #BTC
U.S. SENATOR TED CRUZ ANNOUNCED THAT HE BOUGHT 3 BITCOIN MINERS AND STARTED MINING IN TEXAS.
#MiningToMillions #BTC #Texas #Update #BTC
State Digital Currency Backed By Gold Being Proposed By Texas Politicians
Despite opposition from some US senators against the introduction of a central bank digital currency (CBDC), two #Texas lawmakers have submitted identical proposals to establish a state-based #digitalcurrency backed by gold.
On March 10, Senator Bryan Hughes submitted Senate Bill 2334, and on the same day, Representative Mark Dorazio introduced House Bill 4903, both of which stated that the new digital currency would be backed by a fractional equivalent amount of genuine gold.
The bills stated:
âEach unit of the digital currency issued represents a particular fraction of a troy ounce of gold held in trust.â
One of the legislation' text. Source: capitol.texas.gov
The comptroller would utilize the funds collected to acquire an equivalent amount of gold once a person purchases a specific amount of digital currency, according to the measure.
The buyer would then get a digital currency equivalent to how much gold the comptroller bought with the money they gave them.
A unit of digital currency must be worth the same amount at the moment of the transaction as the relevant fraction of a troy ounce of gold.
The legislation said:
âThe trustee shall maintain enough gold to provide for the redemption in gold of all units of the digital currency that have been issued and are not yet redeemed for money or gold.â
The possibility of establishing a fee "at any rate necessary" to cover the expenses of administering this chapter was introduced.
Both bills say that this act will go into effect on September 1, 2023, despite neither having been passed or put to a vote.
Recently, a number of US senators have argued against the country establishing a CBDC.
In a March 20 press conference, Florida Governor Ron DeSantis claimed that #cbdc would give the government "more power" and provide it "a direct view of all consumer activities."
#Original #gold
This news is republished from https://coinaquarium.io/
On March 10, Senator Bryan Hughes submitted Senate Bill 2334, and on the same day, Representative Mark Dorazio introduced House Bill 4903, both of which stated that the new digital currency would be backed by a fractional equivalent amount of genuine gold.
The bills stated:
âEach unit of the digital currency issued represents a particular fraction of a troy ounce of gold held in trust.â
One of the legislation' text. Source: capitol.texas.gov
The comptroller would utilize the funds collected to acquire an equivalent amount of gold once a person purchases a specific amount of digital currency, according to the measure.
The buyer would then get a digital currency equivalent to how much gold the comptroller bought with the money they gave them.
A unit of digital currency must be worth the same amount at the moment of the transaction as the relevant fraction of a troy ounce of gold.
The legislation said:
âThe trustee shall maintain enough gold to provide for the redemption in gold of all units of the digital currency that have been issued and are not yet redeemed for money or gold.â
The possibility of establishing a fee "at any rate necessary" to cover the expenses of administering this chapter was introduced.
Both bills say that this act will go into effect on September 1, 2023, despite neither having been passed or put to a vote.
Recently, a number of US senators have argued against the country establishing a CBDC.
In a March 20 press conference, Florida Governor Ron DeSantis claimed that #cbdc would give the government "more power" and provide it "a direct view of all consumer activities."
#Original #gold
This news is republished from https://coinaquarium.io/
Samsung Secures $6 Billion Funding from U.S. Government to Boost Semiconductor Production. đ±đșđČ
In a significant development for the tech industry, Samsung has received a substantial $6 billion grant from the U.S. government. This funding comes at a crucial time for Samsung's Texas facilities, which have been grappling with escalating costs.
The primary purpose of this funding injection is to bolster Samsung's semiconductor production capabilities, a vital component of modern technology infrastructure. This move follows in the footsteps of Intel, as Samsung becomes the latest beneficiary of U.S. government support amid ongoing global economic challenges.
The motivation behind the government's initiative to support semiconductor technologies is clear: to ensure the United States remains competitive in the face of stiff competition from China and Taiwan. By providing financial assistance to industry leaders like Samsung, the U.S. aims to maintain its technological leadership and safeguard national interests.
The impact of this funding is expected to be substantial. Samsung intends to utilize the grant to create jobs and make strategic investments in its semiconductor facilities. This investment is crucial not only for Samsung's growth but also for the broader technological ecosystem.
On a global scale, this move by Samsung reflects broader trends within the semiconductor industry. Companies like TSMC are also making significant strides in innovation and investment, highlighting the increasing importance of semiconductor technologies in today's digital landscape.
The public response to the government's funding of Samsung is mixed. Some applaud the support for key industries, while others question assistance for such a large company. However, many see it as vital for technological sovereignty and innovation. Samsung's use of the funding to bolster semiconductor capabilities is closely watched by the tech industry, highlighting the significance of such investments.
#Samsung #usa #Texas #China #TSMC
In a significant development for the tech industry, Samsung has received a substantial $6 billion grant from the U.S. government. This funding comes at a crucial time for Samsung's Texas facilities, which have been grappling with escalating costs.
The primary purpose of this funding injection is to bolster Samsung's semiconductor production capabilities, a vital component of modern technology infrastructure. This move follows in the footsteps of Intel, as Samsung becomes the latest beneficiary of U.S. government support amid ongoing global economic challenges.
The motivation behind the government's initiative to support semiconductor technologies is clear: to ensure the United States remains competitive in the face of stiff competition from China and Taiwan. By providing financial assistance to industry leaders like Samsung, the U.S. aims to maintain its technological leadership and safeguard national interests.
The impact of this funding is expected to be substantial. Samsung intends to utilize the grant to create jobs and make strategic investments in its semiconductor facilities. This investment is crucial not only for Samsung's growth but also for the broader technological ecosystem.
On a global scale, this move by Samsung reflects broader trends within the semiconductor industry. Companies like TSMC are also making significant strides in innovation and investment, highlighting the increasing importance of semiconductor technologies in today's digital landscape.
The public response to the government's funding of Samsung is mixed. Some applaud the support for key industries, while others question assistance for such a large company. However, many see it as vital for technological sovereignty and innovation. Samsung's use of the funding to bolster semiconductor capabilities is closely watched by the tech industry, highlighting the significance of such investments.
#Samsung #usa #Texas #China #TSMC
