The Morning Bag

EU Parliament To Vote On Bitcoin Mining Ban Over Environmental Concerns

Today, the European Union (EU) parliamentarians, will vote on proposed legislation that could effectively ban the mining of bitcoin and other cryptocurrencies using proof-of-work consensus mechanisms across the EU due to environmental concerns. The economic and monetary affairs committee will be voting on a draft of the Markets in Crypto Assets (MiCA) [https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=CELEX%3A52020PC0593] package today, legislation aiming to ban cryptocurrencies using environmentally unsustainable consensus mechanisms by 2025. The package would require the EU to switch over to more environmentally friendly cryptocurrencies, like Algorand [https://www.algorand.com/], a green, carbon negative cryptocurrency, that uses a proof-of stake consensus mechanism. Find out the difference and hear the responses!  For more crypto news and discussion be sure to follow @TheMorningBag on Twitter and Instagram or read these stories in article form at themorningbag.com [//themorningbag.com]

Worldwide Crypto Moves This Week - Here's What Happened In The U.S., UAE, and South Korea

This week will go down as a historic one as many parts of the world are beginning to make moves towards mass adoption of cryptocurrency. On Wednesday, the White House released a fact sheet [https://www.whitehouse.gov/briefing-room/statements-releases/2022/03/09/fact-sheet-president-biden-to-sign-executive-order-on-ensuring-responsible-innovation-in-digital-assets/] highlighting President Joe Biden’s “whole-of-government strategy” executive order [https://themorningbag.com/2022/03/10/biden-signs-executive-order-on-responsible-development-of-digital-assets/] on the responsible development of digital assets here in the United States. At almost the same time as the press release from the White House - Sheikh Mohammed bin Rashid Al Maktoum, the Ruler of the Emirate of Dubai, tweeted; "The future belongs to whoever designs it.. Today, through the virtual assets law, we seek to participate in the design of this new and rapidly growing global sector." And finally, South Korea elects a crypto-friendly President who gave out 22,000 NFT's of himself! For more crypto news & discussion be sure to follow The Morning Bag [https://themorningbag.com/] on Twitter [https://twitter.com/themorningbag], Instagram [https://www.instagram.com/themorningbag/], & YouTube [https://www.youtube.com/channel/UChMwF47DFGYeGLsGCZpOB2A]

Biden Signs Executive Order on Responsible Development of Digital Assets, Brother & Sister Pair Charged In $124 Million Cryptocurrency Scheme

On Wednesday, March 9, the White House briefing room released a fact sheet [https://www.whitehouse.gov/briefing-room/statements-releases/2022/03/09/fact-sheet-president-biden-to-sign-executive-order-on-ensuring-responsible-innovation-in-digital-assets/] outlining President Biden’s new “whole-of-government strategy” executive order ensuring the responsible development of digital assets in the United States. Find out the details! Also, Is it better to have had $100 million dollars and go to prison for the rest of your life, or to never have had $100 million dollars at all? That’s the question brother and sister pair, John and JonAtina Barksdale [https://www.sec.gov/litigation/litreleases/2022/lr25341.htm] (41 and 45), are asking themselves after John was arrested on criminal charges and both had civil charges brought against them for their role in Ormeus Coin. For more crypto news and discussion be sure to follow @TheMorningBag [https://twitter.com/themorningbag] on Twitter [https://twitter.com/themorningbag] and Instagram [https://www.instagram.com/themorningbag/] or read these stories in article form at themorningbag.com

The U.S. Treasury Leaks Secretary Janet Yellen's Press Release On Biden's Cryptocurrency Executive Order

The U.S. Treasury Leaks Secretary Janet Yellen's Press Release On Biden's Cryptocurrency Executive Order. Yellen’s statement was supposed to be released Wednesday morning but was posted on accident before being quickly deleted. The overall sentiment of the press release seemed to be bullish for the future of cryptocurrency in the United States. Secretary Yellen used positive language such as the executive order could “result in substantial benefits for the nation, consumers, and businesses,” and seems determined to work with interagency and international partners “on the future of money and payment systems.” For more crypto news & discussion be sure to follow The Morning Bag [https://themorningbag.com/] on Twitter [https://twitter.com/themorningbag], Instagram [https://www.instagram.com/themorningbag/], & YouTube [https://www.youtube.com/channel/UChMwF47DFGYeGLsGCZpOB2A] or visit the morningbag.com to read this story and more in article form.

Coinbase Blocks 25,000 Russian Crypto Addresses, Biden To Sign Cryptocurrency Executive Order, Andre Cronje Leaves DeFi

Coinbase, the largest cryptocurrency exchange in the United States, announced it has blocked 25,000 Russian crypto addresses of individuals and entities it believes to have engaged in illicit activity. This week, President Biden will take the first step towards regulating how cryptocurrency is traded in the United States when he signs an executive order requiring federal agencies to report on what actions they’ve taken regarding cryptocurrencies so far, and what they need to do to develop policies and regulations moving forward. The order is even expected to address the possibility of a U.S. Central Bank Digital Currency [https://www.federalreserve.gov/faqs/what-is-a-central-bank-digital-currency.htm], or CBDC. Prolific DeFi developer, Andre Cronje, and his frequent collaborator, Anton Nell, announced on Twitter Sunday that the two would be “closing the chapter” on developing in decentralized finance and the crypto space and will be terminating 25 of their apps and services on April 3, 2022.  This caused panic amongst DeFi investors in the space and left tokens seeing sharp declines.  For more crypto news and discussion be sure to follow @TheMorningBag [https://twitter.com/themorningbag] on Twitter [https://twitter.com/themorningbag] and Instagram [https://www.instagram.com/themorningbag/] or read these stories in article form at themorningbag.com