What happens when the leaders of the world’s seven richest economies meet in a city that suffered the horror of an atomic bomb? so what they talk about how to stop two countries that have nuclear weapons and that they don’t like very much: China and Russia. This was the last meeting of the G7 in Hiroshima.
The European Union fined Meta a record for violating personal data protection regulations. The penalty is 1.2 billion euros and gives Meta six months to stop processing data on European citizens in the United States. Meta said that the fine was unjustified and that he would appeal it. It seems that Meta does not like to have their data messed with.
TikTok sued Montana over its decision to ban the social media app, the first statewide ban on TikTok in the United States. The Chinese company argues that the ban is unconstitutional and that Montana’s claim that TikTok shares data with the Chinese government is based on “unsubstantiated speculation.” Will it be true or will it be a tik-tok?
Meanwhile, on the crypto planet: With blockchain analysis, we can check the conviction of the base. Not much new money coming in. And it doesn’t seem like the institutions are queuing up to get in… This half-year rally has been driven mainly by retail enthusiasm. Old bitcoiners have returned and bought again. They are very firm. They do not sell their coins even if the price moves a lot. They don’t buy much either, because there is little volume of transactions. Probably, because they already ran out of fiat. It’s time to cross your fingers. We are in a moment of cautious calm because the uncertainties are many.
Now, let’s talk about the top crypto news of the week according to Cointelegraph in Spanish: This is not a news summary. This is an opinion article. The intention is to reflect on the following headlines in a skeptical and critical way. This is an article for free thinkers.
Montenegrin prosecutor’s office appeals Do Kwon’s bail
Do Kwon, the co-founder of Terraform Labs, a cryptocurrency company that went under in 2022, is in trouble. They arrested him in Montenegro with false documents and they want to extradite him to South Korea and the United States, where they accuse him of various financial crimes. A court granted him bail of 400,000 euros, but the prosecution disagrees and has appealed the decision. Now he will have to wait for the Superior Court to resolve the appeal. Meanwhile, he remains under house arrest and has his passport confiscated. His trial is scheduled for June 16. Will he be able to escape justice or will he have to pay for his mistakes? We will find out in the next chapter of this crypto novel.
Texas Reserves Test Bill Approved in the Senate
Can you imagine cryptocurrency exchanges having to prove that they have enough money to pay their clients? Well, that is what could happen in Texas, if a bill that has already passed the House of Representatives and is now in the Senate is approved. The bill would force exchanges to maintain reserves equal to or greater than the value of their obligations to clients, and submit an annual report to the Banking Department. If they don’t comply, they could lose their license. The idea is to protect users from possible fraud or bankruptcies of the exchanges. But it could also make it more difficult for new competitors to enter the market. Will it be a prudent measure or an unnecessary barrier? Lor we will know if the governor signs the bill and makes it law.
Fintech business guide launched in El Salvador
Would you like to invest in Fintech businesses in El Salvador? Well, you’re in luck, because there is a guide that explains everything. This is a research paper prepared by Torres Legal, a firm specializing in new technologies and cryptocurrencies. Apparently, The guide offers you an in-depth and practical vision of the legal, regulatory and financial aspects that you must take into account when doing Fintech business in the country.. In addition, it informs you about emerging trends in the field of cryptocurrencies and Blockchain, the role of Neobanks and financial inclusion initiatives. The guide has been recognized by CasaTIC as a valuable document for those interested in the Fintech sector.
Vitalik Buterin recommends against overloading the Ethereum consensus layer
Would you like to use the Ethereum consensus for things other than validating blocks and securing the network? Well, be careful, because Vitalik Buterin, the co-founder of Ethereumadvises against it. In a blog post, Buterin warned of the dangers of “stretching” the Ethereum consensus beyond its basic functions. According to him, using consensus for price oracles, rethinking initiatives, or recovery of Layer 2 projects could bring “high systemic risks” to the ecosystem. For example, there could be bugs, attacks or bribery that affect the stability and security of the network. Buterin advocated preserving the minimalism of the Ethereum consensus and not overloading validators with other things.
Ledger users’ private seed phrases could be shared with governments if ordered to do so
Ledger offers an optional upgrade that splits your seed phrase into three parts and saves them in different places. If the government asks for your phrase, they could have access to your cryptocurrencies.
Do you know what the underlying problem is in this toxic relationship between the citizen and the government? The crisis of representation and polarization. We are all anarchists with ourselves. We believe that laws are not necessary for us, only for others. For example, if you are an American libertarian and cryptocurrency user, you get furious when you read that the US and European governments have power over your money. But if you read that Texas is messing with centralized exchanges and that El Salvador has become a crypto haven, you clap your hands. So, It is not a fight against the government per se, but rather a matter for my side or your side.. Isn’t it ironic?
Disclaimer: The information and/or opinions expressed in this article do not necessarily represent the views or editorial line of Cointelegraph. The information presented here should not be taken as financial advice or investment recommendation. All investment and commercial movement involve risks and it is the responsibility of each person to do their due research before making an investment decision.
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