bonnies6ja

@bonnies6ja

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According to the DARI report, BTC mining offers a cleaner and more cost-effective solution where miners operate continuously and generate revenue while remaining able to reduce energy consumption when needed during peak demand.

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Gas peaker plants have been criticized for inefficiencies and their contribution to greenhouse gases while sitting idle for most of the year, releasing hundreds of thousands of tons of carbon dioxide (CO2) into the atmosphere annually.

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Hamada said: “I think Japan should follow the example of the United States and consider turning some of its foreign exchange reserves into crypto assets such as Bitcoin.”

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The response came after a question from Satoshi Hamada, a member of the House of Councilors from the Party to Protect the People from NHK, on Japan’s “movement of introducing Bitcoin reserves that the United States and other countries are proceeding with.”

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Japan’s prime minister said his government lacks enough information about the United States and other countries’ plans for a Bitcoin strategic reserve to determine whether Japan should implement one.

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While issuers like Tether discontinued its Euro-backed stablecoin, compliant issuers have thrived. By November, MiCA-compliant stablecoins captured most of the market, with Circle, Societe Generale and Banking Circle’s stablecoins holding a 91% market share by late 2024.

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On Dec. 18, research firm Kaiko and Netherlands-based crypto exchange Bitvavo reported that the introduction of MiCA significantly shifted the stablecoin landscape in the region.

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If the bill is enacted, Hong Kong may witness a shift in stablecoin use similar to that in Europe when the Markets in Crypto-Assets (MiCA) regulations came into force.

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The bill provides protections for consumers that affect the various market participants, including issuers and distributors.

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The regulator would evaluate the issuer and its controllers, resources, stablecoins, reserve assets and the mechanism stabilizing its value. Only regulated entities and platforms will be allowed to offer stablecoins in Hong Kong or to market them to the public.

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If the bill is signed into law, issuers of stablecoins in Hong Kong must obtain a license from the Hong Kong Monetary Authority (HKMA), the region’s central bank. Issuers must comply with the comprehensive requirements to obtain a license.

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According to law firm King & Wood Mallesons, the Stablecoins Bill has three key components. They include stablecoin issuer licensing and requirements, a specified stablecoin offering, and marketing restrictions with broader consumer protections.

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Bitcoin has continued to trade below $100,000 at $98,805, according to CoinMarketCap data. It first reached the six-figure milestone price on Dec. 5.

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The last time the ETH/BTC ratio tapped 0.04 was on Dec. 8, when ETH traded just above the $4,000 psychological price level at $4,018.

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On Dec. 16, the US Bitcoin funds collectively broke $129 billion in assets under management (AUM), surpassing US gold ETFs, which held just shy of that figure, according to K33 Research’s head of research, Vetle Lund.

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Meanwhile, net assets in US Bitcoin ETFs surpassed gold funds for the first time on Dec. 16, according to K33 Research.

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TradingView shows Ether’s relative strength to Bitcoin — the ETH/BTC ratio — is currently at 0.035. Some analysts say that ETH may outperform Bitcoin in January 2025.

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Bitcoin was trading at $98,035, up 4.59% in the last 24 hours, while Ether was trading at $3,420, up 3.28% over the same time, according to CoinMarketCap data at the time of writing.

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However, since late November, the Ether ETFs have gained traction, having seen an 18-day inflow streak that was broken on Dec. 18.

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Launched in July, the Ether funds had a slow start compared to the strong early momentum that spot Bitcoin ETFs saw after their January launch.

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