New German government cites crypto in the coalition agreement

Three German political parties agreed to a coalition deal this week where they said that they will advocate for an equal playing field between traditional finance and cryptocurrency. The coalition calls for a new “dynamic in relation to the opportunities and risks from new financial innovations” such as crypto assets and blockchain businesses.

South Korean regulator proposes strict new rules for token issuers

South Korea’s Financial Services Commission (FSC) has issued a report outlining its new definition of cryptocurrencies, along with proposed procedures for token issuers and punishments for non-compliance. The FSC would require these entities to submit a white paper, obtain a favourable rating from a recognised token evaluation service, obtain a legal review of the project, and disclose regular business reports to users.

Thai lawmakers urged to approve tourism crypto to entice digital nomads

The Tourism Authority of Thailand has been planning to launch its utility coin to attract tourists. Reports said that the infrastructure is ready and they are waiting for the government to approve.

Report claims each Solana TX uses less energy than 2 Google searches

Reports said that Solana TX uses very little energy. The blockchain consumes 24 times less energy than charging a phone. The Solana network is less decentralised than Bitcoin or Ethereum with 1,196 validator nodes that process an estimated 20 million transactions per year. The report states the Foundation will further reduce the network’s energy usage by implementing a program before the end of this year to become carbon-neutral and offset the environmental footprint of the ecosystem.

India cannot risk being a late mover in accepting crypto: Ashish Singhal

Ashish Singhal, CEO of CoinSwitch Kuber, said that cryptocurrencies provide India with an opportunity to turn into a net exporter from a net importer of technology. Industry experts and lawyers expect that cryptocurrencies will be regulated and there will not be an outright ban.