Quote of the week: “Bitcoin being the first man-made incorruptible money and social institution we’ve ever had, is potentially the most important invention in human history.” – Robert Breedlove
Source: https://bitcoinist.com/day-two-key-quotes-and-ideas-from-of-the-bitcoin-2021-conference-in-miami/
Top Headlines
Market Influences: Donald Trump
On Tuesday, June 8 the cryptocurrency market dropped by 5-10% after former president Trump stated that Bitcoin was a scam in an interview. Source:
United States Defense: Officials from the United States government task force have recovered $2.3M in crypto from Colonial Pipeline ransom. The task force “found and recaptured” 63.7 Bitcoin connected to Russian DarkSide hackers. Source: https://cointelegraph.com/news/us-officials-recover-2-3m-in-crypto-from-colonial-pipeline-ransom
International regulation: On June 9, The Legislative Assembly of El Salvador passed a bill, introduced by the president, that made Bitcoin a legal tender in the nation. Source: https://cointelegraph.com/news/el-salvador-president-bitcoin-law-will-be-approved-tonight
Bitcoin News: On Thursday, after the Basel Committee’s proposal gave banks a green light to hold cryptocurrencies and digital assets, Bitcoin hit highs above $38,000. The Basel Committee on Banking supervision is a council that sets international banking standards. Source: https://www.coindesk.com/bitcoin-peeps-above-38k-on-basel-news
A Change of Heart for New York: On June 8, New York senators amended a proposal to ban all crypto mining for three years. Now, New York is seeking to only halt mining firms that rely on carbon-based fuel sources; thus, the state will allow green projects. The bill passed in the senate and now is at the state assembly for review, before heading to Governor Cuomo to approve or veto the legislation. Source: https://cointelegraph.com/news/proposed-new-york-mining-ban-watered-down-to-allow-green-projects