US Treasury Secretary Says She's Seen No Significant Use of Crypto to Evade Sanctions on Russians
Daily Market Wrap
Crypto market cap: 2.02 trillion, up 1.67%
BTC price stands at USD 43,604, up 0.84%
ETH price stands at USD 3,250, up 2.06%
Top gainer: Near Protocol (NEAR), up 14.44%
Top loser: Decred (DCR), down 3.77%
News of the Day
United States Treasury Secretary Janet Yellen has not seen that significant use of cryptocurrency is being used to evade sanctions.
Why it matters:
Janet Yellen, U.S. Treasury Secretary, assured the committee on Wednesday that It is hard to use crypto to evade sanctions
Yellen further added that any large transactions through cryptocurrency would be made note of since blockchains are being “regularly examined”
Yellen also expressed concern about the possibility that cryptocurrency could be used as a tool to evade sanctions and they are carefully monitoring to make sure that doesn’t happen
Crypto daily spotlight
Juno Blockchain, Cosmos’s Layer-1 network, plans to restart Thursday after it remained offline for over 24 hours due to a malicious smart contract attack.
Brief introduction: Juno is a Cosmos-based blockchain that is an interoperable smart contract network and a zone part of the Cosmos Network. This makes the smart contracts fully deployable on any IBC (inter-blockchain communication) connected blockchain with being highly scalable, permissionless, and cheap fees.
Why it matters:
There are over 50 dapps, contracts, and tools built on Juno network suffering the over 24-hour blockchain halt
The Juno core development team says no user funds have been impacted in the course of the network shutdown
This is the second challenge for Juno after the controversial governance vote of removing tokens from a “whale”. JUNO’s price dropped more than 5% after the shutdown
Daily sector tracker
Daily News Roundup
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El Salvador President Cancelled His Planned Participation in the Bitcoin 2022 Conference in Miami https://bit.ly/3x7MNwn
Twitter Founder Jack Dorsey's First Tweet NFT Listed on OpenSea for Sale at 14,969 ETH https://bloom.bg/3O4FjQS
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