12 Sep 2022 · 3 min read

Canadian Bitcoiner to Challenge Trudeau in 2025, Huobi Delists XMR & DASH + More News

Source: Jason Hafso/Unsplash

Get your daily, bite-sized digest of cryptoasset and blockchain-related news – investigating the stories flying under the radar of today’s crypto news.

Bitcoin news

  • Canada’s main opposition party, the Conservative Party, has elected a pro-bitcoin (BTC) “populist” leader. Pierre Poilievre, an MP for Ontario, won a “landslide” victory over the former Quebec leader Jean Charest – with the former gathering 68% of the vote, the Globe and Mail reported. Poilievre will now look to lead the Conservatives to victory over Prime Minister Justin Trudeau’s Liberal Party in the forthcoming 2025 general election. Poilievre has previously called for Canadians to “have the freedom to use other forms of money, such as bitcoin” – as he said that the government had “ruined” the fiat Canadian dollar.
  • El Salvador’s Supreme Court says it will issue guidelines on how bitcoin – which was granted legal tender status in the nation just over a year ago – can be used to fund election campaigns. Per El Diario de Hoy, the Supreme Court said that it was “aware of the risks of money laundering” involved in the “use of cryptocurrencies.” However, the court has indicated that it is not prepared to put a cap on crypto donations. Instead, the court stated that it would focus on transparency-related matters. The nation goes to the polls in a general election in 2022.

Regulation news

  • South Korea and the USA will “cooperate” in efforts to stop North Korean crypto hacking efforts, and will look to block Pyongyang’s efforts to launder money using crypto. Per YTN, Washington and Seoul agree that “up to a third” of the money North Korea has used to fund its missile development programs are being “financed” via Pyongyang’s illicit “cyber activities.” Kim So-Jeong, a Senior Research Fellow at South Korea’s National Security Strategy Institute was quoted as stating that efforts to block the use of crypto mixing services would likely “continue.”

Exchanges news

  • The crypto exchange Huobi says that it will delist the privacy coins monero (XMR), dash (DASH), ZCash (ZEC), and a number of other, similar coins. The firm, in an official post, said that it would effectively cease all operations with the coins – barring withdrawals – immediately, and remarked that it had updated its listings policy. Huobi wrote that it “strictly complies with the compliance policies of every country and region” and has “always” endeavored to “safeguard our users’ assets.” A number of nations have barred domestic exchanges from handling XMR and other coins, claiming they can be used to fund money laundering.

CBDCs news

  • Norway’s central bank and its blockchain partner Nahmii say they have made public the source code for an Ethereum-based sandbox created for the nation’s forthcoming central bank digital currency (CBDC). Nahmii published the code on its GitHub pages, and, in a post, stated that the new sandbox would allow parties to interact with the test network to mint, burn, and transfer ERC-20 protocol tokens. But, the firm said, while limited access to the sandbox and its code would be possible for all parties, “access to the full CBDC environment” would be restricted for all but approved companies and developers.

Bitcoin mining news

  • Greenidge Generation, the Nasdaq-listed, Connecticut, United States-based crypto miner, says that it mined some BTC 301 last month, and BTC 1,771 in the first eight months of the year. In a press release, the firm added that it had “approximately 24,500 miners in service as of August 31,” but noted that some “5,000 older, less efficient miners” were taken offline last month. The company said that the rigs had been removed in an effort to “create capacity” for new mining machines that are currently “being delivered.”