MiamiCoin has generated nearly $8 million prior to now two months, Decrypt reported.
Mayor Francis Suarez’s ambitions for the challenge embrace making the town a “cryptocurrency innovation hub,” and he’s stated crypto might assist change the way in which native applications are funded and permit the Metropolis of Miami to generate as much as $60 million within the subsequent yr, in keeping with the report. He stated this might assist to unravel points reminiscent of poverty.
The coin was launched in August and has been powered by CityCoins, a blockchain challenge permitting individuals to spend money on cities by means of shopping for or mining their tokens, which may earn them yields in bitcoin or Stacks tokens, the report said.
In different information, Iran has executed away with a ban on bitcoin mining that the nation carried out in Might to assist curb vitality use with the summer season’s excessive temperatures approaching, Bitcoin Journal reported. This may enable licensed farms to come back again on-line.
Iran has low cost electrical energy, and this has confirmed to be a boon for bitcoin miners, who’ve tended to go there to assist get higher revenue margins, in keeping with the report.
However the summer season months, with their elevated vitality demand as residents use extra air-con to chase away the warmth, prompted leaders to place a ban on bitcoin mining that has now been eliminated because the temperatures cool, the report said.
In the meantime, KuCoin has stated it’s leaving China as a result of elevated strictness of crypto guidelines there, Crypto New Media reported
By the tip of the yr, all customers ought to withdraw their funds and shut their accounts from the alternate agency, in keeping with the report.
KuCoin stated the choice was prompted by China’s latest ban on crypto. KuCoin has left China earlier than, in 2017, when related crackdowns have been taking place, the report said.
Lastly, Bitcoin was up 5.23% as of Thursday (Sept. 30), including $2,174.07 to its earlier shut, Channel Information Asia reported.
The crypto has gained 57.6% from the yr’s low in January when it sat at $27,734, in keeping with the report.
Additionally, ether rose 5.26%, hitting greater than $3,000 and including $150.08 to the earlier shut, per the report.