🇰🇪Kenyan President Requests 💰 Bitcoin Miner Marathon Digital to Review Nation’s Cryptocurrency Regime
Kenyan President William Ruto recently announced that his government has requested Bitcoin miner Marathon Digital to review the country’s cryptocurrency regime. Ruto stated that the U.S.-based Bitcoin miner will also discuss electricity usage in cryptocurrency mining with the Kenyan Energy Ministry. The apparent acceptance of crypto and Bitcoin mining by the Ruto-led Kenyan government seems to be a shift from the stringent approach previously adopted by the Central Bank of Kenya (CBK) and other government entities.
🇰🇪Kenyan President Requests 💰 Bitcoin Miner Marathon Digital to Review Nation’s Cryptocurrency Regime
Kenyan President William Ruto recently announced that his government has requested Bitcoin miner Marathon Digital to review the country’s cryptocurrency regime. Ruto stated that the U.S.-based Bitcoin miner will also discuss electricity usage in cryptocurrency mining with the Kenyan Energy Ministry. The apparent acceptance of crypto and Bitcoin mining by the Ruto-led Kenyan government seems to be a shift from the stringent approach previously adopted by the Central Bank of Kenya (CBK) and other government entities.
Bitcoin is a decentralized digital currency that you can buy, sell and exchange directly, without an intermediary like a bank. Bitcoin’s creator, Satoshi Nakamoto, originally described the need for “an electronic payment system based on cryptographic proof instead of trust.” Each and every Bitcoin transaction that’s ever been made exists on a public ledger accessible to everyone, making transactions hard to reverse and difficult to fake. That’s by design: Core to their decentralized nature, Bitcoins aren’t backed by the government or any issuing institution, and there’s nothing to guarantee their value besides the proof baked in the heart of the system. “The reason why it’s worth money is simply because we, as people, decided it has value—same as gold,” says Anton Mozgovoy, co-founder & CEO of digital financial service company Holyheld.
The STAR Market, as is implied by the name, is heavily geared toward smaller innovative tech companies, in particular those engaged in strategically important fields, such as biopharmaceuticals, 5G technology, semiconductors, and new energy. The STAR Market currently has 340 listed securities. The STAR Market is seen as important for China’s high-tech and emerging industries, providing a space for smaller companies to raise capital in China. This is especially significant for technology companies that may be viewed with suspicion on overseas stock exchanges.
