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Miami mayor offers city’s clean nuclear power to Foreign Bitcoin miners

With Bitcoin (BTC) mining concentration expanding in North America, Miami mayor Francis Suarez is looking to position his city as a hub for crypto mining activity.

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With Bitcoin (BTC) mining concentration expanding in North America, Miami mayor Francis Suarez is looking to position his city as a hub for crypto mining activity.

Speaking to CNBC on Thursday, Mayor Suarez said he is inviting foreign mining companies to consider establishing data centers in the city.

According to Suarez, Miami’s ample nuclear electricity supply should attract Bitcoin miners looking to adopt clean energy sources for their operations, especially amid the current spotlight on the supposed carbon footprint of crypto mining.

Mayor Suarez has previously weighed in on the issue claiming back in March that 90% of Bitcoin mining was from “dirty energy.”

At the time, the Miami mayor argued that a shift in mining concentration to the United States may help to ease environmental concerns.

As part of efforts to attract overseas Bitcoin miners, Mayor Suarez stated that city officials were looking to reduce the cost of energy in conjunction with the power companies. Other incentives like favorable taxes and minimal regulations are also on the table, according to the Miami mayor.

By using cheap, clean energy and crypto-friendly regulations, Miami may compete with other emerging mining destinations in Texas and Wyoming.

The plan may also further expand Miami’s crypto adoption drive with the city looking to become the Bitcoin and crypto capital of the world.

Mayor Suarez is himself a crypto proponent and has said previously that he owns both Bitcoin and Ether (ETH). As previously reported by Cointelegraph, the Miami mayor bought BTC after Congress passed the $1.9 trillion stimulus bill back in March.

Suarez’s open invitation to overseas miners is also coming at a time of increasing clampdowns on crypto mining by Chinese authorities. On Friday, reports emerged that crypto miners in Ya’an, a city in the Sichuan Province, have been ordered to shut down their operations.

With anti-crypto mining sentiments seemingly prevalent among authorities in Beijing, friendlier climes like Miami may prove attractive to miners leaving China. Indeed, some miners are already considering plans to leave the country with a spokesperson for BTC.top telling Cointelegraph, “Yes, we want to go overseas.”

Source Credits: Coin Telegraph

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GameStop hints at future Bitcoin purchases following board approval

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GameStop is exploring the possibility of adding Bitcoin to its balance sheet, but any future purchases will require approval from the company’s board of directors. The move signals the gaming retailer’s continued interest in digital assets as it seeks to diversify its financial strategy.

The potential Bitcoin investment aligns with GameStop’s previous forays into the crypto space, including its NFT marketplace and blockchain gaming initiatives. However, the company has not yet committed to a specific timeline or amount for Bitcoin purchases.

Industry analysts suggest that if GameStop proceeds with Bitcoin acquisitions, it could follow in the footsteps of other publicly traded companies, such as MicroStrategy, that have adopted Bitcoin as a reserve asset. The decision could also serve as a signal to retail and institutional investors about GameStop’s long-term outlook on digital assets.

As the company awaits board approval, the broader market will be watching closely to see if GameStop makes a decisive move into Bitcoin, potentially influencing other corporations to consider similar strategies.

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SEC nominee Atkins discloses at least $327M in assets ahead of confirmation hearing

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Paul Atkins, a former commissioner of the U.S. Securities and Exchange Commission (SEC), is under scrutiny over financial disclosures related to his wife. The concerns emerged during a recent hearing, raising questions about transparency and potential conflicts of interest.

Atkins, who served at the SEC from 2002 to 2008, has been a vocal advocate for regulatory clarity in financial markets, including the cryptocurrency sector. However, lawmakers and regulators are now examining whether proper disclosures were made regarding financial assets linked to his wife.

The inquiry reflects broader concerns about ethics and accountability among financial regulators and policymakers. While Atkins has not been formally accused of wrongdoing, the situation highlights ongoing debates over financial transparency in government and regulatory agencies.

As the hearing unfolds, industry observers are closely watching for potential implications on SEC policies and oversight practices. The outcome could influence future regulatory discussions, particularly in areas where financial disclosures intersect with policymaking in traditional and digital asset markets.

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Brazil’s data watchdog upholds ban on World crypto payments

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Brazil’s data protection authority is ramping up its oversight of cryptocurrency payment platforms, reflecting growing concerns over data privacy and regulatory compliance in the digital asset sector. The move aligns with a broader global trend of increased scrutiny on crypto transactions.

The regulatory focus comes as crypto payments gain mainstream adoption in Brazil, with businesses and consumers increasingly using digital assets for everyday transactions. Authorities aim to ensure that companies handling crypto payments comply with data protection laws, safeguarding user information against misuse and security breaches.

This initiative follows global regulatory efforts to address concerns over illicit financial activities and privacy risks associated with digital currencies. While Brazil has been a leader in Latin America’s crypto adoption, regulators are working to balance innovation with consumer protection.

Industry experts believe that stricter oversight could enhance trust in the crypto sector, attracting institutional players while ensuring compliance with international standards. As regulations evolve, businesses operating in the crypto payments space will need to adapt to the changing legal landscape to maintain seamless operations.

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