In recent weeks, news about the crypto industry did not leave the headlines in the most popular mass media, more countries are increasingly thinking about the regulation of cryptocurrencies.
We prepared for you digest about the most interesting events in crypto ✨
- Mining is more and more difficult
After the latest recalculations, the complexity of mining has increased by 0.5% to 36.95, reaching an all-time high. The complexity depends on the required processing power and the creation of a new block in the chain. This parameter changes approximately every two weeks.
Mining is often criticized for high power consumption and environmental damage. So on November 22 the state of New York imposed restrictions on mining – a two-year moratorium on mining was imposed on fossil fuel power plants.
- Brazil took a step in crypto regulatory laws
The Brazilian Congress approved a law that strengthens regulation of cryptocurrency in the country. It introduces punishment for crypto-fraud, as well as the need to obtain licenses for companies working in the crypto industry. Now the law only needs to pass the president’s signature. The Securities Commission and the Central Bank of Brazil will tentatively deal with the regulation.
- Domino effect: BlockFi files for bankruptcy
Cryptocurrency lender BlockFi filed for Chapter 11 bankruptcy in the United States. According to a BlockFi executive, the collapse of FTX created a liquidity crisis that hit BlockFi as well.
- Telegram want to launch own decentralized crypto products
Another echo of the FTX collapse was Pavel Durov’s announcement of his intention to launch Telegram’s own crypto-wallet and exchange. The head of one of the largest messengers said that, the blockchain industry had at its core decentralization, but now all the power was still in the hands of a few players, which lead to the fact that many users have lost their assets when FTX collapsed. Now Telegram plans to create its own decentralized exchange and non-custodial wallet.
- OpenSea Adds Support for BNB Chain NFTs
One of the largest blockchains by daily active users, will allow sales of its non-fungible tokens on OpenSea by the end of the year.