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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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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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The bill provides protections for consumers that affect the various market participants, including issuers and distributors.
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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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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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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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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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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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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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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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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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bonnies6ja
@bonnies6ja
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.”
0 reply
1 recast
5 reactions
bonnies6ja pfp
bonnies6ja
@bonnies6ja
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.
0 reply
1 recast
1 reaction
bonnies6ja pfp
bonnies6ja
@bonnies6ja
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.
0 reply
1 recast
1 reaction
bonnies6ja pfp
bonnies6ja
@bonnies6ja
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.
0 reply
1 recast
1 reaction
bonnies6ja pfp
bonnies6ja
@bonnies6ja
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.
0 reply
1 recast
1 reaction
bonnies6ja pfp
bonnies6ja
@bonnies6ja
The bill provides protections for consumers that affect the various market participants, including issuers and distributors.
0 reply
1 recast
1 reaction
bonnies6ja pfp
bonnies6ja
@bonnies6ja
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.
0 reply
1 recast
1 reaction