Proposed Directors of Tirupati Graphite explain why they have requisitioned an GM. Watch the video here.
https://cointelegraph.com/news/breaking-us-lawmakers-behind-crypto-amendments-to-infrastructure-bill-introduce-compromise
Remember that thing we were worried about yesterday !
Compromise amendment now being put forward.
Reading the RNS again -at Argo’s choice we have deposited $5m with ePIC.
So initial order cancelled as machines not meeting requirements or too costly but we give $5m to ePIC so that we can work with them to develop the machines we need. Sure in one of the recent videos mentioned how we were working with ePIC to develop state of the art machines. You don’t just cancel an order and then give the company $5m unless a strong relationship exists. In the coming weeks expect positive RNS about rig development.
https://www.proactiveinvestors.co.uk/companies/news/957124/argo-blockchain-reports-record-profit-amid-bitcoin-price-boom-957124.html
As the article and the RNS states priority for 2021 remains expansion of mining capacity. Don’t think they would highlight that if wasn’t something in the pipeline.
Assumed that to be allowed to mine in US the US mining operation would need to meet US regulations , but not sure. At least it wouldn’t apply to Canadian operations. Would hope that as not really meant to apply to miners would get sorted eventually but might cause some short term doubts.
Like you hoping it is overblown. One argument I have seen is that it is impossible for miners to meet the regulations as they won’t be able to comply with the information requirements ie as don’t know their customers. So suggestion is it will leave miners not knowing if they can comply with the regulations- obviously not good if just setting up a US mining operation. At least we should know soon. Any of the 3 amendments will stop POW miners needing to meet the requirements.
A lot of the main people involved in crypto feel it is absolutely a threat. If it goes through without amendments it will cause a large amount of uncertainty. Establishment is trying to stop Crypto by piling on regulations that cannot be met. Having said that hopefully with the arguments put forward by crypto supporters an amendment will be agreed today or over the coming days.
Waiting to see what happens later today re the crypto amendments to the Infrastructure Bill before I get to excited about Monday.
If an amendment isn’t agreed will be bad news for Miners. If any of the 3 possible amendments are agreed will at the very least exclude POW miners from the regulations.
https://www.newsbtc.com/analysis/btc/bitcoin-rally-in-early-stages/
https://www.fxstreet.com/cryptocurrencies/news/janet-yellen-has-been-lobbying-against-wyden-lummis-toomey-crypto-amendment-report-202108061357
Janet Yellen getting involved.
Likely to be a vote tomorrow.