Crypto News

https://www.coindesk.com/markets/2023/08/29/bitcoin-jumps-5-on-grayscale-ruling-crypto-related-stocks-soar-more-than-10/

techcrunch.com

Ledger, one of the biggest crypto wallet providers, has launched a new feature called Ledger Recover, and not everyone is happy about it

Ledger, one of the biggest crypto wallet providers, has launched a new feature called Ledger Recover, and not everyone is happy about it. Earlier this week, Ledger launched a subscription service that lets users recover their private keys (AKA what helps them access their hard wallets) if they lose them. The $9-per-month subscription service requires users who opt-in to the service to provide their identification per KYC guidelines. The tool would then encrypt their private keys into three pieces and send them to three different companies: Ledger, Coincover and EscrowTech. The three companies would then use that KYC information to verify wallet holders when they want to use the recovery tool

news.sky.com

The Treasury Committee made the recommendation while describing digital currencies as having "no intrinsic value and no useful social purpose".

The cross-party Treasury Committee claimed digital currencies such as Bitcoin and Ether have "no intrinsic value and no useful social purpose" - and as well as consuming large amounts of energy, they are often used by criminals for scams. It comes after the government announced proposals in February to regulate the crypto industry by bringing it under financial services law. But MPs said a better approach would be to recognise how speculation in unbacked cryptoassets - like Bitcoin - "more closely resembles gambling than a financial service".