The Unchained Web Daily Crypto News #54

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Monero Wallet Address:

42EkgN23XZoLJXrgMJjrRM7jYpmirk1WvWUWc2SDF6kZAXVzHMGy5XB8JM8Vce3iHGKh9H8ACWF9J6ErrfKCP48mL2yeWcw

Bitcoin Wallet Address: bc1q4283c60tv2p7exfeu2ql7dk2n7utswgl43n2fk

ETH & ERC-20 Address: 0xD16429e3F253f50CfF306B2bE8966ce935332116

BNB & BRC-20 Address: 0xD16429e3F253f50CfF306B2bE8966ce935332116

Reclaim (some) Privacy Webinar Series: Intro to SearXNG & other privacy engines

In April, I am planning my first webinar in a series focused on privacy. The specific webinar will be focused on why Google may not be the best search engine to use and the SearXNG meta search engine and how it can be used to enhance privacy when using a search engine to research or find something to one's interest.

If you are interested in the topic, feel free to click "attend" on the link to the event below: https://www.dhirubhai.net/events/7167975601373458433/about/

Texas House Committee passes bill to create gold and sliver backed crypto-currencies

The Texas House committee passed a bill, HB4903, which would create 100% reserve gold and silver-backed transactional currencies. This would provide an alternative to a central bank digital currency (CBDC) and compete with Federal Reserve notes. The state comptroller would establish and provide for the issuance of gold and silver-backed digital currencies, which would be 100% redeemable in cash, gold, or silver. The Texas Bullion Depository would be authorized to issue gold and silver specie, which could be used as legal tender to pay off debts or transfer to others. This legislation aims to promote sound money and undermine the Federal Reserve's monopoly on money. Supporters have created an online tool for residents of Texas to register support for the bill to move to the House for a debate and vote. Click here for more.

Forget FOMO—JOMO Effect NFT Project Aims to Boost Mental Health in Web3

The JOMO Effect NFT project aims to spread joy of missing out (JOMO) in the Web3 community and raise money for mental health charities. The project features a collection of 40 unique digital art collectibles focusing on wellness and mental health, available via the Magic Eden marketplace and minted on the Ethereum scaling network, Polygon. Proceeds from the drop will benefit five mental health charities. Collectors buying at least five JOMO Effect NFTs will receive a special edition Adam Bomb Squad NFT for every set of five, and those who collect all 40 unique NFTs will receive extra perks. The project also offers access to Peace Inside Live’s library of classes and meditations, discounts on metaphysical and wellness services, and an exclusive online meditation with Deepak Chopra’s Seva Love. Click here for more.

Block Demand Leads to Fee Spike as Bitcoin-Based Memecoins Flourish

Fees on the Bitcoin blockchain have surged to two-year highs due to rising demand for block space caused by the Ordinals protocol and the ‘Bitcoin Request for Comment’ (BRC-20) tokens. The number of non-fungible tokens (NFTs) tied to the Bitcoin blockchain surged above 3 million last week after a one-day spike in activity that mainly consisted of text-based assets. The BRC-20 token standard allows users to issue transferable tokens directly through the network, and data from OrdSpace shows over 11,000 tokens issued on Bitcoin are available on the open market as of Monday with a cumulative market capitalization of $1.6 billion. Meanwhile, network congestion has briefly caused problems at crypto exchanges such as Binance, which paused bitcoin withdrawals twice over the weekend. Click here for more.

Defending against SEC to cost Ripple $200M, CEO Brad Garlinghouse says

Ripple has spent $200 million on its legal battle with the US Securities Exchange Commission (SEC), according to CEO Brad Garlinghouse. Speaking at the Dubai Fintech Summit on 8 May, Garlinghouse said the US was stuck compared with the regulatory progress of the UAE and the European Union. He criticised the country's politics, which he said had been put ahead of policy, and advised entrepreneurs not to start companies in the US. Ripple has been involved in a two-and-a-half-year legal battle with the SEC, which claims Ripple illegally sold XRP tokens as an unregistered security. Click here for more.

China is developing AI without US chips: Here’s how

Chinese tech firms are reportedly exploring ways to develop artificial intelligence (AI) without relying on the latest hardware technology from the United States due to current sanctions. Sanctions imposed by the US against China in October 2022 have deprived Chinese companies of accessing the most advanced chips on the market. This includes Nvidia’s A100 chips and the latest version, the H100, which are the most popular options in AI development. The report said researchers and analysts believe creating alternatives to such chips will be difficult for Chinese tech firms, but some experiments have shown “promise.” Click here for more.

Aave DAO Passes Proposal to Deploy on Ethereum Layer 2 Metis Network

Aave's version 3 (V3) will be deployed on the Ethereum layer 2 ecosystem Metis Network after receiving 100% support from voters in a community vote on Aave’s governance forum. The move is expected to increase liquidity for both ecosystems and allow Metis users to benefit from Aave's borrowing and lending features. Metis is offering liquidity incentives to Aave users on its network, including 100,000 native metis (METIS) tokens as a liquidity mining incentive and a token mining reward program. Click here for more.

‘No other options’: Hong Kong moving forward with crypto licensing, FinTech chair says

Hong Kong is still pushing for crypto trading despite other jurisdictions stepping back, according to the chair of the FinTech Association of Hong Kong. On June 1, a licensing regime for crypto exchanges will come into effect, and is expected to include retail trading. Hong Kong is attracting talent and infrastructure providers, and it's necessary to have the infrastructure in place for Hong Kong to realize its virtual asset hub ambitions. The opening of the financial industry to digital assets was "just a natural progression" as cryptocurrencies "become a little bit more prominent". Click here for more.

Kazakhstan collected $7M in crypto mining taxes in 2022

Kazakhstan's government received approximately $7 million in tax payments from crypto mining entities in 2022 following an amended law on the fiscal burden of mining cryptocurrencies, according to local media reports. However, mining fees collected by April 27, 2023, were much lower than in the first quarter of 2022. Kazakhstan is one of the world's top Bitcoin mining hubs and introduced taxes on digital mining on January 1, 2022, based on electricity consumption by mining entities. Recently, the government announced plans to introduce new crypto regulations to curb tax fraud and unlawful business operations. Click here for more.

Deloitte integrates blockchain for digital credentials

Deloitte has partnered with Polkadot-based KILT Protocol to enable the issuance of reusable digital credentials for its customers in a digital wallet. The integration aims to streamline the verification processes for Deloitte's customers, such as Know Your Customer (KYC) and Know Your Business (KYB) certification, by storing verification credentials in a single digital wallet. The credentials will also help improve data privacy and reduce the risk of identity theft, as all data will be stored on the customer's device under their control. The new wallet will support various use cases, including banking, decentralized finance (DeFi), age verification, and fundraising. Click here for more.

Aragon Fires Back at Activist Investors in Early Stages of DAO Governance Fight

Aragon's backer, the Swiss nonprofit Aragon Association, has defended its decision to ban several members from its Discord server for spamming with questions on its finances. The association argued that while Discord servers and other coordination platforms are used by DAOs, they are not DAOs. A DAO, or decentralized autonomous organization, is a governance structure that relies on blockchain voting to make decisions. Aragon Association is itself governed by a DAO and is building tools to assist other DAOs. However, the move raised concerns over the appropriate implementation of crypto governance. Aragon has given no timeline for reinstating the banned members or the transfer of the treasury to community control. Click here for more.

Bitcoin takes flight in Liechtenstein: Minister proposes government services paid in crypto

Liechtenstein Prime Minister Daniel Risch has announced that the micro-European nation will begin accepting Bitcoin as payment for government services. The country is unlikely to hold onto the cryptocurrency, instead opting to exchange it immediately for Swiss francs to avoid volatility. Liechtenstein is part of the European Economic Area and the EU's Markets in Crypto-Assets regulation could apply. The country passed the Liechtenstein Blockchain Act in 2019, which has resulted in several crypto-focused businesses setting up operations there. Like Zug and Lugano in nearby Switzerland, Liechtenstein has embraced the use of Bitcoin for some taxes and public services. Click here for more.

If you enjoy and find value in the newsletter, please feel free to donate for its upkeep and independent nature as much as you think is fair:

Monero Wallet Address:

42EkgN23XZoLJXrgMJjrRM7jYpmirk1WvWUWc2SDF6kZAXVzHMGy5XB8JM8Vce3iHGKh9H8ACWF9J6ErrfKCP48mL2yeWcw

Bitcoin Wallet Address: bc1q4283c60tv2p7exfeu2ql7dk2n7utswgl43n2fk

ETH & ERC-20 Address: 0xD16429e3F253f50CfF306B2bE8966ce935332116

BNB & BRC-20 Address: 0xD16429e3F253f50CfF306B2bE8966ce935332116

Reclaim (some) Privacy Webinar Series: Intro to SearXNG & other privacy engines

In April, I am planning my first webinar in a series focused on privacy. The specific webinar will be focused on why Google may not be the best search engine to use and the SearXNG meta search engine and how it can be used to enhance privacy when using a search engine to research or find something to one's interest.

If you are interested in the topic, feel free to click "attend" on the link to the event below: https://www.dhirubhai.net/events/7167975601373458433/about/

Brought to you by?Alexandros Ntolgkov