Blockchain DXB: 🔴 14th Jan 🔴 🚀Bitcoin Mining Difficulty 🚀Tether relocation to El Salvador 🔮NYDFS exchange program with Bank of England 💯Loss for SEC chair Gary Gensler

14th Jan: Blockchain DXB Podcast
🚀Bitcoin Mining Difficulty 🚀Tether relocation to El Salvador 🔮NYDFS exchange program with Bank of England 💯Loss for SEC chair Gary Gensler
❗ Bitcoin's difficulty has increased for the eighth consecutive time, driven by a rising hash rate.
- Similar streaks of positive adjustments occurred during the 2018 bear market and the 2021 bull market.
- Currently, the hash rate stands at 775 EH/s (7-day average) and is projected to reach 1 ZH/s by the next halving.
🎙️ Check out the Blockchain DXB episode today, we will share more information on this. We explain, how BTC mining works & the difficulty adjustment occurs every 2,016 blocks, recalibrating to maintain an average block mining time of 10 minutes & more
The next Bitcoin difficulty adjustment is estimated to take place on Jan 28, 2025, 07:17:40 AM UTC
🟢Tether.io and its subsidiaries are about to complete all formalities to relocate to El Salvador, following the successful acquisition of a Digital Asset Service Provider (DASP) license and as a stablecoin issuer. Official info here https://shorturl.at/kdYrA Key highlights of this move include:
- Aligning with El Salvador’s Bitcoin-first economy to empower individuals and businesses.
- Enhancing operational flexibility to drive innovation in a supportive ecosystem.
- Establishing a headquarters in a forward-looking jurisdiction to support Tether’s long-term
🚨Crypto-Related - New York State Department of Financial Services exchange program with Bank of England
The NYDFS and Bank of England launched the Transatlantic Regulatory Exchange (TRE), enabling senior staff exchanges to share expertise in digital payments and emerging financial technologies. Starting February 2025, the program aims to strengthen global financial stability, foster regulatory collaboration, and support innovation between New York and London. Participants will return to their organizations with enhanced insights to improve digital asset regulation.
💯 Partial win for Coinbase
A federal court has ordered the U.S. Securities and Exchange Commission (SEC) to explain why it refused to establish clear rules for crypto securities. The ruling, from a case involving Coinbase, criticized the SEC's actions as "arbitrary and capricious" and required the agency to provide a more detailed explanation. This decision, which comes as SEC Chair Gary Gensler prepares to step down, could open the door for new leadership to revise the SEC's stance on digital assets. Coinbase has been pushing for clear regulations to define whether crypto assets qualify as securities.
🟠 Two UAE news (see slides)
⚡ HashKey Receives In-Principle Approval for Dubai VASP License Hashkey World
⚡ Halo AI raises $6 million to impact brand-creator collaborations