Edge launched its first Bitcoin Confidential Mastercard that does not require personally identifiable information and takes 15 seconds to create. The card would let users use Bitcoin Cash, Dogecoin, Litecoin, and Dash to fund their Mastercard. More: - Edge Co-founder and CEO Paul Puey explains the problem that the company aims to solve: "I've known a handful of people that are unbanked; they simply cannot get a bank account for whatever reason."
- Edge aims to create economic empowerment for people that do not have access to financial instruments.
- Users are not required to provide their name, phone number, email address, or even actual address to create the card on edge.
- To fund their account, customers will need to sell their Bitcoin within their wallet and then send the USD to their Edge Mastercard instead of transferring funds to a bank account. There are no fees to add money to the card.
- The Mastercard has a daily spending limit of $1,000.
- The card can be used with Apple Pay, with Samsung Pay and Google Pay to come later.
- The company will also release a physical card for a $20 fee later this month.
Decrypt 
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Rep. Madison Cawthorn (R-N.C.) faces several ethics complaints over his involvement with cryptocurrency trading. Cawthorn failed to disclose over $900,000 in crypto trades within the required 45 days in a certified document to Congress. More: - Cawthorn is under investigation for violating the federal conflict-of-interest law for failing to disclose the purchase of six types of cryptocurrencies valued at $290,000-$950,000.
- It is not illegal for Cawthorn to buy or sell cryptocurrencies; the issue here is that he reported the transactions six months after making them, which is well over the requirement under the 2012 Stop Trading on Congressional Knowledge Act, or STOCK Act.
- Cawthorn disclosed his crypto trades to the U.S. House of Representatives on Wednesday. His crypto portfolio included:
- Kryll, $116,000 to $265,000
- Ethereum, $61,000 to $215,000
- Solana, $48,000 to $195,000
- Bitcoin, $47,000 to $180,000
- Let's Go Brandon Coin, $15,000 to $50,000
- Request, $3,000 to $45,000
- Cawthorn invested $100,000 to $250,000 in the SPDR S&P 500 ETF, which tracks the S&P 500 index. The congressman also bought $150,000 in "Let's Go Brandon," a crypto coin, in Dec. 2021 and reported the transaction four months past the due date.
Business Insider
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The co-founder and CEO of MicroStrategy, Michael Saylor, believes that Bitcoin will reach the $1M mark as lawmakers establish a regulatory framework for the digital asset. Saylor compared Bitcoin with gold and believes that Bitcoin is a more valuable asset in terms of uniqueness, adoption, and security. Bitcoin also has a unique blockchain that cannot be replicated. More: - Saylor is a keen advocate of Bitcoin and has also expressed his views on Bitcoin being used as a hedge against inflation.
- Despite the crypto winter, he remains bullish about Bitcoin's future. He claims that the near-term volatility is not a concern, and Bitcoin will remain a valuable digital asset.
- Saylor explains that there are two types of belief systems in crypto: the deniers and the skeptics. Both have made negative assumptions about the future of digital currency.
- He believes that Bitcoin will not go to zero, but it will rise to $1M because governments have not banned Bitcoin and are actively seeking ways to regulate and adopt it.
- The MicroStrategy CEO compared Bitcoin to gold by saying: "Bitcoin is better than gold and everything gold wants to be." If BTC were worth only what gold is worth, "Bitcoin would be only five hundred thousand USD per coin."
Crypto Potato
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Russia is introducing a new bill to ban the use of digital assets as payment methods for goods and services. Anatoly Aksakov, the head of the Financial Markets Committee of the Russian parliament's lower chamber, introduced a bill that would prohibit the use of "digital financial actives" (DFA) to pay for commercial use. More: - The Russian authorities seem divided on their views about cryptocurrency. The country's central bank is pushing for a total ban of all digital assets, while the Finance Ministry wants to regulate and adopt digital assets.
- Three weeks ago, Russia's Finance Ministry proposed a bill to legalize cryptocurrencies as a means of payment and foreign trade; however, this week, a new bill was proposed by the Financial Markets Committee seeking to ban the use of crypto for goods and services.
- In 2020, lawmakers were considering prohibiting the usage of crypto and were seeking to impose fines and jail time on those participating in the industry. By March 2022, these plans for abandoned, and instead, authorities were drafting a regulatory framework on the asset class.
- Under the current legislation, employing digital assets as payment is illegal in the country but not prohibited; if the new bill gets passed and approved by President Vladimir Putin, then the ban will become official in Russia.
Coin Telegraph
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Circle announced the launch of its USDC coin, which is supported by the Polygon network. The new Polygon-based USDC is a bridged version of the USDC coin, adding the digital asset to the user's Circle Account and Circle APIs. More: - Polygon ecosystem hosts over 19,000 decentralized applications and 2.7 million monthly active users.
- The new Polygon-based USDC can be used for buying, selling, borrowing, lending, payments, and more.
- The Circle account bridges USDC from Ethereum to Polygon manually through the Polygon bridge, saving users time and improving efficiency.
- The new system will enable users to convert fiat currency to Polygon USDC or convert back to fiat currency from USDC within seconds on the Circle account.
Bitcoin.com
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Legal experts believe that Do Kwon, Terraform Labs CEO, is unlikely to face any criminal penalty in the U.S. over the collapse of Terra (LUNA) and terraUSD (UST). If civil lawsuits are filed, they will most likely come from cryptocurrency investors. More: - Randall Eliason, a professor at George Washington University Law School, believes that Kwon will not be prosecuted because it is difficult to prove the wrongdoing beyond a reasonable doubt. To illustrate his point, he says, "It's not like a homicide where you bring in witnesses to testify to who pulled the trigger."
- In addition, prosecutors and trial attorneys will have to prove the defendant's state of mind beyond a reasonable doubt, which is a challenging task.
- The case of Theranos' former CEO, Elizabeth Holmes, was different because they told investors that they were using their machines to run blood samples, which was not true; they were using another company's machines instead. The intent to deceive and defraud investors was easier to prove in this case.
- Unlike criminal cases, the burden of proof only requires a greater than 50% chance that the claims are valid in civil cases.
- A civil case can be filed by investors of LUNA; Kwon already faces legal action in South Korea: "There are going to be issues with jurisdiction since he's not in the U.S. South Korean authorities might have something to say about possible sanctions," says a legal expert.
- Kwon was also being investigated by the SEC in the U.S., but he filed a motion opposing the regulator.
Bitcoin.com
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 |  | Gia Mattu is based in Calgary, Alberta. She is an entrepreneur with experience in climate technology, drones, AI, machine learning, and blockchain technology. When she's not working, she loves to hike the Canadian Rockies, try new cuisine, and travel. | | | | Editor | Aaron Crutchfield is based in the high desert of California. Over the last two decades, he has spent time writing and editing at various local newspapers and defense contractors in California. When he's not working, he can often be found looking at the latest memes with his kids or working on his 1962 Ford. | |
