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Rise and shine, fellow bitcoiners! Welcome to Money Badger, where we serve up the hottest sips of Bitcoin news with a side of cheeky memes, making sure you're caffeinated and informed on the ever-evolving world of digital sound money.
In today's news:
👩⚖️ SEC Sue Binance
🌋 El Salvador unleashes Volcano Bitcoin Mining
🍊 Philippines gradual orange adoption
☠ EU regulation could harm open source development
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SEC Sues Cryptocurrency Exchange Binance Alleging Violations Of U.S. Securities Laws
The U.S. Securities and Exchange Commission (SEC) has filed a complaint against Binance, accusing the cryptocurrency exchange of violating federal securities laws.
The SEC alleges that Binance unlawfully solicited U.S. investors to trade crypto asset securities and made false representations about surveillance and controls.
The complaint states that Binance operated as an unregistered exchange, broker-dealer, and clearing agency, and conducted unregistered offers and sales of its own cryptocurrency assets.
Binance is accused of evading U.S. laws and regulation and depriving investors of material information.
The company expressed disappointment, highlighted its cooperation with the SEC's investigations, and intends to vigorously defend its platform.
El Salvador Unleashes "Volcano Energy" With 241 Megawatt Planned Bitcoin Mining Operation
El Salvador plans to establish itself as a major player in the Bitcoin mining industry through the creation of "Volcano Energy," harnessing its natural resources.
The country aims to construct a renewable power generation park combining solar and wind projects, with a capacity of 169MW of solar energy and 72MW of wind energy.
The initial computational power is expected to exceed 1.3 EH/s. The $1 billion project will involve collaboration between Bitcoin industry leaders, renewable energy technology manufacturers, and global Bitcoin mining experts.
El Salvador's government will have a significant role, ensuring 23% participation and reinvestment in expanding energy production and advancing Bitcoin mining.
Over 400 Small Businesses In The Philippines Are Now Accepting Bitcoin Payments
Pouch.ph, a bitcoin payment firm, is enabling over 400 small businesses in the Philippines to accept Bitcoin payments.
The platform uses the Lightning Network to facilitate fast and affordable digital payments, converting bitcoin to pesos for seamless transactions.
By accepting bitcoin, businesses can reach customers without credit cards and expand their customer base.
Pouch has successfully on boarded merchants in various cities and offers a Batch Pay feature for instant payments.
This move allows small businesses to tap into the growing number of internet and smartphone users in the Philippines while offering diverse payment options.
EU’s Proposed Cyber Resilience Act Raises Concerns for Open Source and Cybersecurity
The proposed Cyber Resilience Act (CRA) in the EU aims to bolster cybersecurity, but it may unintentionally penalize open source developers and expose vulnerabilities to a larger audience, undermining its purpose.
Open source software plays a crucial role in today's internet, and developers deserve compensation for their work.
Additionally, the requirement to disclose vulnerabilities within 24 hours could result in hasty patchwork fixes and increase the risk of cyber warfare.
European lawmakers should consider these concerns and make necessary amendments to ensure the CRA achieves its intended goals of enhancing cybersecurity.
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