Major Developments in the World of Crypto: Marathon Digital Increases Hash Rate Target, ConsenSys Sues SEC Over Ether Regulation, US Senators Address Cryptocurrency’s Role in Child Exploitation Trade
In the fast-paced world of cryptocurrency, major developments are constantly shaping the industry. From Marathon Digital increasing its hash rate target to ConsenSys suing the SEC over Ether regulation, and US Senators addressing cryptocurrency’s role in child exploitation trade, the crypto world is abuzz with activity.
Marathon Digital, a prominent player in the Bitcoin mining industry, is ramping up its operations with an ambitious goal of achieving a hash rate of 50 EH/s by 2024. Recent acquisitions have enabled the company to double the scale of its mining operations, with its stock price rising by over 15% since the fourth Bitcoin halving event. The company’s confidence in the growth potential of Bitcoin mining is evident as it aims to establish itself as a major player in the industry.
On the regulatory front, ConsenSys has taken a bold step by filing a lawsuit against the SEC and its commissioner over attempts to regulate Ether as a security. The company warns that such actions could have detrimental effects on the Ethereum network and innovation in the United States. The lawsuit seeks to clarify the regulatory status of ETH and ensure that ConsenSys’ operations are not deemed as unregistered broker-dealer activities.
Meanwhile, US Senators Elizabeth Warren and Bill Cassidy are addressing the role of cryptocurrency in the sale of child abuse material. They are urging federal agencies to enhance their technical capacity to track down crypto transactions linked to these heinous crimes. The senators’ efforts to combat the illicit use of cryptocurrency in child exploitation trade highlight the importance of regulatory oversight in the crypto space.
As the world of cryptocurrency continues to evolve, these major developments underscore the need for clear regulations, responsible mining practices, and efforts to combat illicit activities. Stay tuned for more updates on the dynamic world of crypto.
