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• Merchants who supported digital yuan for real-world testing said they didn’t have to pay any transaction fees, unlike when they use third-party payment providers.
• The government has sent mixed signals about whether the central bank digital currency will compete with Alipay and WeChat Pay.

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Very low spot volume Thursday isn’t helping bitcoin’s price.

“I think we need to look closely at how to encourage their use for legitimate activities while curtailing their use for malign and illegal activities,” Janet Yellen wrote.

No coins were added to the bitcoin supply, as some headlines might lead you to believe.

A small band of Ethereum miners are trying to pick off larger mining pools’ subscribers in a bid to shoot down EIP 1559.

Georgetown Law professor and former CFTC Commissioner nominee Chris Brummer is reportedly Joe Biden’s leading candidate to succeed Heath Tarbert, who announced his resignation Thursday.

Heath Tarbert, the chairman of the Commodity Futures Trading Commission, said Thursday that he is stepping down as head of the agency.

Tarbert, the CFTC said Thursday, will continue serving as one of the agency’s five commissioners. His term lasts until April 2024. Tarbert had previously indicated his plans to step down as chairman, as reported in December.

In a statement, Tarbert cited U.S. President Joe Biden’s ascent to office as a motivating factor.

“It has been the highlight of my professional career to serve the American people as this agency’s 14th Chairman and Chief Executive,” Tarbert said. “It is bittersweet to step down from a role that I have enjoyed so much, but it is important to clear the way for President Biden’s selection of a permanent chair. The peaceful transfer of power is a hallmark of the American system of self-government, and I am proud of our efforts to uphold that tradition here at the CFTC.”

Tarbert notably stated in 2019 that it was “[his] view as chairman of the CFTC that ether is a commodity,” a declaration that earned plaudits from the crypto industry. Under Tarbert, the CFTC has devoted sources to both crypto-related enforcement as well as regulatory guidance for related activities.

© 2021 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

As BlackRock gets ready to make its first foray into bitcoin, innovation-focused ARK ETF flows surpass that of BlackRock.

SEC commissioner Allison Herren Lee has been named acting chairwoman of the U.S. securities regulator, according to a statement from the agency released Thursday.

Lee, who became an SEC commissioner in mid-2019, will serve in an acting capacity as newly-inaugurated president Joe Biden’s pick, Gary Gensler, awaits confirmation in the U.S. Senate.

“It’s an honor to continue my service on the Commission in this new role,” Lee said in a statement. “I have tremendous respect for my colleagues on the Commission and the exceptional staff across the agency, and look forward to working closely with them. Together we will continue the agency’s work of protecting investors and ensuring market integrity.”

Gensler, a former CFTC chairman, was officially nominated earlier this week. The role of SEC chair requires confirmation in the U.S. Senate, though it is unclear at this time when Gensler will begin that process. 

© 2021 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

A technical manifesto, the Bitcoin white paper was released in 2008 under an MIT public license for all to learn from, share and enjoy.