August 10, 2022

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

  • Indonesia’s council of religious leaders, the National Ulema Council, or MUI, has deemed cryptocurrency as haram, or banned, as it has elements of uncertainty, wagering, and harm, Asrorun Niam Sholeh, head of religious decrees, said on Thursday after the council held an expert hearing, Bloomberg reported. If cryptocurrency as a commodity or digital asset can abide by Shariah tenets and can show a clear benefit, then it can be traded, it added. The decision from MUI doesn’t mean all cryptocurrency trading will be stopped in Indonesia.
  • The US Securities and Exchange Commission (SEC) said it has instituted proceedings against American CryptoFed DAO, a Wyoming-based organization, halting the effectiveness of the company’s registration of two digital tokens as securities. The watchdog’s Enforcement Division alleges that the company had filed a materially deficient and misleading registration form, which purported to register two digital tokens issued by American CryptoFed – called the ‘Ducat’ and ‘Locke’ tokens – as equity securities, so the company will be investigated to determine the best course of action.

Adoption news

  • The City of Miami will soon give out a “bitcoin yield” from the staking of its cryptocurrency to its citizens, Miami Mayor Francis Suarez told CoinDesk TV. According to him, the city will make the payments through a digital wallet.
  • After facing a backlash from the users, Discord CEO Jason Citron now claims that the popular messaging platform currently does not have plans to roll out integration with Ethereum (ETH) wallets.

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