28% of U.S. hashrate in Texas, SEC postpones spot ETF decision and Chase UK bans crypto services

Crypto2Cash
3 min readSep 28, 2023
Photo by Sajad Nori on Unsplash

SEC postpones verdict on Ark 21Shares and Global X spot Bitcoin ETFs

The Securities & Exchange Commission (SEC) recently announced a delay in its verdict on the Ark 21shares Bitcoin ETF. Consequently, the SEC has marked January 10, 2024, as the decisive day to either greenlight or reject the proposed amendment.

A statement from the U.S. securities authority highlighted its decision to push back its judgment on the Ark 21shares Bitcoin ETF, an asset-backed fund aiming for public listing. The filing for this ETF was jointly presented by Cboe BZX Exchange, 21shares, and Ark Invest on April 25, 2023.

This ETF joined the ranks of several spot bitcoin ETF applications, with industry giants like Invesco, Blackrock, Fidelity, Vaneck, Valkyrie, Wisdomtree, and Franklin Templeton all in the queue.

Source: Bitcoin.com

Texas is home to nearly 30% of all Bitcoin hash rate

The U.S. state of Texas accounts for over 28% of all Bitcoin BTC tickers down $26,428 hashing power in the United States, according to the latest Hashrate Map by crypto mining service provider Foundry USA.

The newly updated map shows Texas with 28.5% of all the country’s Bitcoin hash rate, followed by Georgia claiming 9.64% of the hash rate, New York with 8.75% and New Hampshire accounting for 5.33%. Bitcoin’s hash rate represents how fast a mining machine operates when trying to calculate a valid block hash.

A snapshot of Foundry’s pool in December 2021 shows a different picture. Texas controlled 8.43% of the country’s hash rate at the time, while Georgia had 34.17%. Meanwhile, Kentucky stood at 12.40%, and New York held 9.53%. Compared with 2021, more U.S. states are mining Bitcoin in 2023.

Source: Cointelegraph

Chase UK banning crypto services for 1.6 million over scam risks

Starting October 16, Chase UK will no longer permit customers to use their debit cards or bank accounts for cryptocurrency, due to the perceived prevalence of crypto scams and fraud.

“If we think you’re making a payment related to crypto assets, we’ll decline it. If you’d still like to invest in crypto assets, you can try using a different bank or provider instead — but please be cautious, as you may not be able to get the money back if the payment ends up being related to fraud or a scam.”

The move impacts over 1.6 million customers using Chase UK, a digital bank started in September 2021 by JPMorgan Chase, the largest bank in the United States and the world.

Source: MSN.com

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