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Crypto community hopeful about new Senate leader John Thune

Not endorsed by Donald Trump, Senator John Thune defeated the Elon Musk-supported Senator Rick Scott to become the new Senate majority leader.

The cryptocurrency industry has high hopes for regulatory clarity in the United States as the Republican Party elected Senator John Thune of South Dakota as the new Senate majority leader.

Thune won the Senate majority leader race on Nov. 13, defeating the Elon Musk-endorsed Senator Rick Scott of Florida.

“We will work to make America prosperous again by streamlining the bureaucratic machine and overturning costly Biden-Harris regulations,” Thune stated in a speech after winning.

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Cryptoquant Report: Record-Breaking Activity Propels Altcoins to New Heights

Crypto.com sues SEC to ‘protect the future of crypto’ in US

Crypto.com’s lawsuit against the US SEC follows the exchange’s receipt of a Wells notice from the agency.

Major cryptocurrency exchange and service provider Crypto.com is launching a legal battle against the United States Securities and Exchange Commission with the goal of protecting the future of the crypto industry in the country.

Kris Marszalek, co-founder and CEO of Crypto.com, took to X on Oct. 8 to officially announce that the company has filed a suit against the US SEC.

“This unprecedented action by our company against a federal agency is a warranted response to the SEC’s regulation by enforcement regime, which has hurt more than 50 million American crypto holders,” he wrote.

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Cryptoquant Report: Record-Breaking Activity Propels Altcoins to New Heights

Kamala Harris finally breaks silence on crypto: Report

Kamala Harris has spoken publicly about crypto for the first time, pledging support for the industry while stressing consumer protections.

Kamala Harris made her first public statement amid her campaign for the United States presidency — vowing to encourage investment in artificial intelligence and digital assets during a Wall Street fundraiser.

“We will partner together to invest in America’s competitiveness, to invest in America’s future. We will encourage innovative technologies like AI and digital assets while protecting our consumers and investors,” Harris said at a fundraiser in Manhattan, Bloomberg reported on Sept. 22.

“We will create a safe business environment with consistent and transparent rules of the road,” Harris said. “We will invest in semiconductors, clean energy and other industries of the future, and we will cut needless bureaucracy.”

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Cryptoquant Report: Record-Breaking Activity Propels Altcoins to New Heights

Crypto execs plan to raise $100K for Harris at fundraiser: Report

A group of crypto industry players wants to sway Kamala Harris to soften on crypto as she maintains a slight lead in national polling over Donald Trump.

Crypto executives and industry advocate groups are reportedly planning to raise $100,000 for United States Vice President Kamala Harris in a bid to sway her toward a relaxed stance on crypto if she wins the presidency in November.

The group, which includes industry advocate body the Blockchain Foundation, is planning the fundraiser for Sept. 13 in Washington with tickets priced between $500 to $5,000, Reuters reported on Aug. 30.

The effort shows some in the industry are backing Harris over rival Donald Trump despite Harris being relatively quiet on her crypto stance compared to Trump.

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Cryptoquant Report: Record-Breaking Activity Propels Altcoins to New Heights

Peter Schiff Expects Gold Mining to Be Best-Performing Sector This Decade — Foresees ‘Major Bull Market’

Peter Schiff Expects Gold Mining to Be Best-Performing Sector This Decade — Foresees ‘Major Bull Market’Economist and gold advocate Peter Schiff predicts that “precious metals mining will be the best-performing sector” this decade. He highlighted that “gold mining stocks are a steal” and anticipates “a major bull market.” Additionally, Schiff cautioned that the Federal Reserve risks making a policy mistake by cutting interest rates too soon. ‘The Stage Is Set […]

Cryptoquant Report: Record-Breaking Activity Propels Altcoins to New Heights

IMF execs float raising crypto mining electricity prices by 85%

A tax on the energy used by crypto miners could cut emissions by 100 million tons a year, equal to Belgium’s emissions, say two IMF executives.

Two executives from the International Monetary Fund (IMF) say increasing the average crypto mining electricity costs globally by as much as 85% through taxes could put a huge dent in carbon emissions. 

A tax of $0.047 per kilowatt hour “would drive the crypto mining industry to curb its emissions in line with global goals,” the IMF Fiscal Affairs Department’s deputy division chief Shafik Hebous and climate policy division economist Nate Vernon-Lin wrote on Aug. 15.

If accounting for miners’ local impact on health, the tax would rise to $0.089 per kilowatt hour, the pair said.

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Cryptoquant Report: Record-Breaking Activity Propels Altcoins to New Heights

Elon Musk Offers to Assist Donald Trump Boost Government Efficiency

Elon Musk Offers to Assist Donald Trump Boost Government EfficiencyTesla and Spacex CEO Elon Musk has offered to assist former U.S. President Donald Trump in managing government spending if Trump is re-elected, proposing the creation of a government efficiency commission. Trump endorsed the idea, praising Musk as “the greatest cutter” and suggesting he would be a great leader for such a commission. Trump and […]

Cryptoquant Report: Record-Breaking Activity Propels Altcoins to New Heights

Google updates policy to allow ads for US crypto trusts

Google will allow ads for U.S. based-crypto trusts from January, with the change seemingly coming in the same month that spot Bitcoin ETFs are predicted to be approved.

Tech giant Google has updated its cryptocurrency-related advertising policy to allow ads about crypto trusts from the end of January, the same month that spot Bitcoin (BTC) exchange-traded-funds are predicted to be approved in the United States.

In a Dec. 6 policy change log, Google said its crypto and related products ad policy will be updated on Jan. 29, 2024, to allow ads from “advertisers offering Cryptocurrency Coin Trust targeting the United States.”

Cryptocurrency Coin Trusts were exampled as “financial products that allow investors to trade shares in trusts holding large pools of digital currency” — likely including ETFs.

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Cryptoquant Report: Record-Breaking Activity Propels Altcoins to New Heights

Ripple Labs chair slams Biden, Gensler for having ‘screwed up’ on crypto

Ripple Labs chair Chris Larsen commented on the recent cases involving Ripple, Grayscale, and the SEC, arguing it is time for Congress to take the lead on crypto policy.

The United States’ legal system is set to bring the crypto industry “back in the game” after the Biden administration “screwed up” its crypto policy, says Ripple Labs chair and co-founder Chris Larsen.

Speaking to Bloomberg on Sep. 7 about his firm’s July partial win against the Securities and Exchange Commission, Larsen argued the regulator lost on “everything that was important to [it] and important in the regulation of the industry.”

“The U.S. screwed up here on crypto and blockchain policy. This is the beginning now through the courts, unfortunately instead of through regulators, to get that clarity and get us back in the game.”

Larsen also commented on the latest court judgment in favor of Grayscale over its application to convert its Bitcoin (BTC) trust into a spot Bitcoin ETF, noting it “really admonished the SEC [...] in a way that you don't really see very often.”

Larsen argued the ruling was proof that SEC chair Gary Gensler knows crypto laws aren’t clear and simply likes the lack of clarity so “he can go after anybody and make up the rules as he goes along through bullying.”

“That's not the American way. We should have clear rules from the legislatures, not through these unelected, power-hungry and really misplaced decision-makers that you see in Gary Gensler.”

Gensler has however previously claimed that the crypto market is full of “fraudsters” and “Ponzi schemes” and that the SEC’s securities laws would help to clean it up.

Biden ‘killed’ San Fran blockchain hub

In another part of the interview, Larsen claimed Biden’s crypto policies “pretty much killed” San Francisco from being the “blockchain capital of the world” despite Silicon Valley’s tech hub reputation.

Related: Grayscale asks SEC to meet on ‘way forward’ for Bitcoin ETF conversion

“We owned it and we don't anymore because the Biden administration, for whatever reason, decided they wanted to push this industry offshore,” Larsen added.

“That was a missed opportunity. It's really unfortunate. Hurt the city.”

He pointed to London, Singapore and Dubai as global blockchain capitals for their “clear rules that protect consumers and also celebrate innovation.”

“Why isn't America leading that call?” Larsen asked. “That's what we've always been, and we've got to get back to it.”

Magazine: Opinion: GOP crypto maxis almost as bad as Dems’ ‘anti-crypto army’

Cryptoquant Report: Record-Breaking Activity Propels Altcoins to New Heights

OpenAI launches web crawler ‘GPTBot’ amid plans for next model: GPT-5

ChatGPT users have the option to scrap the web crawler by adding a “disallow” command to a standard file on the server.

Artificial intelligence firm OpenAI has launched “GPTBot” — its new web crawling tool which it says could potentially be used to improve future ChatGPT models.

“Web pages crawled with the GPTBot user agent may potentially be used to improve future models,” OpenAI said in a new blog post, adding it could improve accuracy and expand the capabilities of future iterations.

A web crawler, sometimes called a web spider, is a type of bot that indexes the content of websites across the internet. Search engines like Google and Bing use them in order for the websites to show up in search results. 

OpenAI said the web crawler will collect publicly available data from the world wide web, but will filter out sources that require paywalled content, or is known to gather personally identifiable information, or has text that violates its policies.

It should be noted that website owners can deny the web crawler by adding a “disallow” command to a standard file on the server.

Instructions to “disallow” GPTBot for ChatGPT users. Source: OpenAI

The new crawler comes three weeks after the firm filed a trademark application for “GPT-5,” the anticipated successor to the current GPT-4 model.

The application was filed at the United States Patent and Trademark Office on July 18, and covers the use of the term “GPT-5,” which includes software for AI-based human speech and text, converting audio into text and voice and speech recognition.

However, observers may not want to hold their breath for the next iteration of ChatGPT just yet. In June, OpenAI’s founder and CEO Sam Altman said the firm is “nowhere close” to beginning training GPT-5, explaining that several safety audits need to be conducted prior to starting.

Related: 11 ChatGPT prompts for maximum productivity

Meanwhile, Concerns have been raised over OpenAI’s data-collecting tactics of late, particularly revolving around copyright and consent.

Japan’s privacy watchdog issued a warning to OpenAI about collecting sensitive data without permission in June, while Italy temporarily banned the use of ChatGPT after alleging it breached various European Union privacy laws in April.

In late June, a class action was filed against OpenAI by 16 plaintiffs alleging the AI firm to have accessed private information from ChatGPT user interactions.

If these allegations are proven to be accurate, OpenAI — and Microsoft, who was named as a defendant — will be in breach of the Computer Fraud and Abuse Act, a law with a precedent for web-scraping cases.

Magazine: AI Eye: AI travel booking hilariously bad, 3 weird uses for ChatGPT, crypto plugins

Cryptoquant Report: Record-Breaking Activity Propels Altcoins to New Heights