{"id":7644,"date":"2023-05-12T03:14:25","date_gmt":"2023-05-12T07:14:25","guid":{"rendered":"https:\/\/ifintechworld.com\/markets\/crypto\/ny-proposes-bill-to-allow-stablecoin-payments-for-bail-bonds-franklin-templeton-plans-second-blockchain-fund-circle-wont-hold-treasurys-past-june-bittrex-allowed-to-borrow-7m\/"},"modified":"2023-05-12T03:14:26","modified_gmt":"2023-05-12T07:14:26","slug":"ny-proposes-bill-to-allow-stablecoin-payments-for-bail-bonds-franklin-templeton-plans-second-blockchain-fund-circle-wont-hold-treasurys-past-june-bittrex-allowed-to-borrow-7m","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=7644","title":{"rendered":"NY Proposes Bill to Allow Stablecoin Payments for Bail Bonds, Franklin Templeton Plans Second Blockchain Fund, Circle Won&#8217;t Hold Treasurys Past June, Bittrex Allowed to Borrow $7M"},"content":{"rendered":"<div>\n<p><i>Get your daily, bite-sized digest of cryptoasset and blockchain-related news \u2013 investigating the stories flying under the radar of today\u2019s crypto news.<\/i><br \/>__________<\/p>\n<h2 style=\"text-align:justify;\">Regulation news<\/h2>\n<ul>\n<li style=\"text-align:justify;\">New York, USA, proposed a bill that would allow payments in stablecoins for bail bonds. New York Assembly Bill 7024, introduced Wednesday, \u201cauthorizes fiat-collateralized stablecoins as a form of bail; directs the commissioner of taxation and finance, in conjunction with the chief justice of the unified court system and the director of the office of information technology services, to promulgate rules and regulations identifying forms of fiat-collateralized stablecoin acceptable for posting bail to establish a system for the administration of the acceptance, recording and processing of stablecoins as a means of securing bail.\u201d<\/li>\n<\/ul>\n<h2 style=\"text-align:justify;\">Investment news<\/h2>\n<ul>\n<li style=\"text-align:justify;\">Global investment firm <strong>Franklin Templeton<\/strong> plans to add to its crypto market offerings with a second blockchain fund, according to a filing with the US <strong>Securities and Exchange Commission<\/strong> (SEC). The Blockchain Fund II is a private equity fund and will carry a minimum investment of $100,000.<\/li>\n<li style=\"text-align:justify;\"><strong>Circle<\/strong>, the US company behind the popular stablecoin USDC, refuses to hold Treasurys that mature beyond early June amid concerns that US politicians will not raise the debt ceiling, risking a default on the government debt. CEO Jeremy Allaire told Politico: \u201cWe don\u2019t want to carry exposure through a potential breach of the ability of the U.S. government to pay its debts.\u201d<\/li>\n<\/ul>\n<h2 style=\"text-align:justify;\">Exchange news<\/h2>\n<ul>\n<li style=\"text-align:justify;\">Bankrupt crypto exchange <strong>Bittrex<\/strong><strong> <\/strong>received court permission Wednesday to borrow $7 million in Bitcoin (BTC) to fund the start of its Chapter 11 case, Reuters reported.<\/li>\n<li style=\"text-align:justify;\">An email sent out to <strong>Coinbase<\/strong> customers allegedly describes the Pepe meme as a \u201chate symbol\u201d, <a rel=\"nofollow noopener\" href=\"https:\/\/twitter.com\/3orovik\/status\/1656453389192921088\" target=\"_blank\">according<\/a> to a screenshot of a newsletter shared by crypto influencer Borovik.eth. Starting as a meme, based on Pepe the Frog, \u201cover time it has been co-opted as a hate symbol by alt-right groups, according to the Anti-Defamation League,\u201d said the post.<\/li>\n<li style=\"text-align:justify;\"><strong>OKX<\/strong> published a new ad, as part of its \u201cRewrite the System\u201d campaign, <a rel=\"nofollow noopener\" href=\"https:\/\/twitter.com\/okx\/status\/1656059833215250436\" target=\"_blank\">stating<\/a> that the financial \u201csystem doesn\u2019t need an update. It needs a rewrite.\u201d It presents inflation, censorship, and data breaches among issues that are part of the \u201cbroken\u201d system.<\/li>\n<\/ul>\n<figure class=\"media\"><oembed data-embedo-height=\"400\" data-embedo-url=\"https:\/\/twitter.com\/okx\/status\/1656059833215250436\" loading=\"lazy\"><\/oembed><\/figure>\n<h2 style=\"text-align:justify;\">Legal news<\/h2>\n<ul>\n<li style=\"text-align:justify;\">Bitcoin mining firm <strong>Marathon Digital Holdings<\/strong> said it received another subpoena from the US SEC regarding alleged violations of securities laws. \u201cThe Company received an additional subpoena from the SEC on April 10, 2023, relating to, among other things, transactions with related parties,\u201d Marathon said in a filing. \u201cWe understand that the SEC may be investigating whether or not there may have been any violations of the federal securities law.\u201d The company added that it is cooperating with the regulator.<\/li>\n<\/ul>\n<h2 style=\"text-align:justify;\">Mining news<\/h2>\n<ul>\n<li style=\"text-align:justify;\">US-based Bitcoin mining company <strong>CleanSpark<\/strong> assured investors during its Q2 earnings call that it is rapidly growing and focusing on efficiency. It doubled the number of BTC mined last quarter compared with Q2 of last year, while its revenue increased by 14%. CleanSpark&#8217;s CFO Gary A. Vecchiarelli said that the stunted revenue growth was largely a result of low Bitcoin prices, Decrypt reported.<\/li>\n<\/ul><\/div>\n<p><script async src=\"\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><br \/>\n<br \/>Read the full article <a href=\"https:\/\/cryptonews.com\/news\/today-in-crypto-ny-proposes-bill-to-allow-stablecoin-payments-for-bail-bonds-franklin-templeton-plans-second-blockchain-fund-circle-wont-hold-treasurys-past-june-bittrex-allowed-to-borrow-7m.htm\" target=\"_blank\" rel=\"noopener\">here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Get your daily, bite-sized digest of cryptoasset and blockchain-related news \u2013 investigating the stories flying under the radar of today\u2019s crypto news.__________ Regulation news New York, USA, proposed a bill that would allow payments in stablecoins for bail bonds. New York Assembly Bill 7024, introduced Wednesday, \u201cauthorizes fiat-collateralized stablecoins as a form of bail; directs [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":7645,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[243],"tags":[83],"class_list":["post-7644","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto","tag-featured"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>NY Proposes Bill to Allow Stablecoin Payments for Bail Bonds, Franklin Templeton Plans Second Blockchain Fund, Circle Won&#039;t Hold Treasurys Past June, Bittrex Allowed to Borrow $7M | iFintechWorld<\/title>\n<meta name=\"description\" content=\"Get your daily, bite-sized digest of cryptoasset and blockchain-related news \u2013 investigating the stories flying under the 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