The U.S. may impose additional tax on cryptocurrency mining (cryptomining) operations. According to the White House, the tax is intended to offset the expenses that cryptomining operations place on society.

Coinbase publicly responded to the SEC’s Wells notice and now is trying to force the regulatory agency to respond to a petition for rulemaking that the company filed last summer aiming to get proper regulation rules for digital assets.

The protracted legal dispute between Ripple, a California-based tech company, and the U.S. SEC has lasted for more than 28 months, prompting widespread speculation regarding the date of the final ruling. Ripple supporters suggest that the verdict may be announced by the end of April.

At a Subcommittee hearing of the House Committee on Financial Services last week, the USDF Consortium asked for a reduction in regulation on blockchain use by federally-insured banks, arguing that the technology should not be unfairly conflated with cryptocurrency.

FTX’s collapse revealed numerous skeletons in the closet of the company. One of the skeletons appeared to be U.S. Farmington State Bank, which FTX owned through a subsidiary.

The New York Innovation Center (NYIC), a joint project of US Fed and BIS, is launching a proof-of-concept project to explore the feasibility of an interoperable network of digital central bank liabilities and commercial bank digital money using distributed ledger technology.

The blockchain project LBRY that is developing “decentralized” Youtube, Odysee, lost the court case against SEC. Observers see a precedent for the Ripple case.

FED is trying to stifle high inflation by rising interest rate and - surprisingly - by provoking unemployment as fears of recession escalate. The crisis could expand around the globe and lead to a contraction in the world’s economy.