Ukraine accepts BTC and ETH, largest single-day pump for Bitcoin since early 2021 and no ban in EU for PoW
Ukrainian governments accepts Bitcoin and Ethereum
The Ukrainian government is seeking donations in cryptocurrency as the country seeks to repel the invasion by Russia.
The Bitcoin and Ethereum wallets listed by the government on Twitter have already received around $19 million worth of crypto in total. The Ethereum wallet has received just over $9.5 million in donations so far. The Bitcoin wallet has received $9.3 millionas of the same time, with some of the bitcoin having already been sent out.
The addresses have been confirmed by vice prime-minister Fedorov.
Bitcoin sets record for largest single day pump after one year
Last week, Bitcoin recorded its largest single-day pump in a year as the Russian ruble tanked 20% in its value against the dollar.
The most influential countries in the world have imposed penalties on Russia aiming for its economic collapse to stop Putin’s efforts to invade Ukraine. However, it is not only politicians who are threatened by penalties but common citizens.
As per Arcane Research data, the bitcoin price increased 14.5% on Monday, its largest pump since February 8th, 2021, when the cryptocoin reacted positively being shot up to an ATH after Elon Musk announced Tesla had bought $1.5 billion in bitcoin.
EU revises legislation targeting Proof-of-Work mining
A piece of European regulation has been revised to remove language that proposed a ban on mining-based cryptocurrencies.
The law in question is Markets in Crypto-Assets (MiCA), which proposes regulations around the use of cryptocurrencies. The law was first proposed by the European Commission in September 2020.
The amendment in the law said that, beginning in 2025, cryptocurrencies created and admitted in the EU should “not be based or rely on environmentally unsustainable consensus mechanisms.”
However, this is not the objective of MiCA, which seeks to regulate businesses instead of ban currencies. Hence, the Commission decided to remove the paragraph regarding the potential ban.
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