Nasdaq-listed cryptocurrency exchange Coinbase has revealed it blocked over 25,000 cryptocurrency addresses linked to Russian individuals or entities that it believes have been engaging in illicit activity.

U.S. President Joe Biden is set to sign a long-awaited executive order directing the Justice Department, Treasury, and other agencies to study the legal and economic implications of creating a U.S. central bank digital currency.

Canadian cryptocurrency mining firm HIVE Blockchain has revealed it signed a deal with chipmaker Intel to buy the company’s new ASIC mining chips in a deal that could increase its aggregate BTC mining hashrate by as much as 95%.

CryptoCompare's Digital Asset Summit is returning on 30th March at Old Billingsgate, London. As Europe's flagship institutional summit for digital assets, this is the perfect opportunity to connect with key industry decision-makers and leading names in finance who are adopting and embracing the digital asset revolution.

Top stories in the Crypto Roundup today:

• Coinbase Blocks 25,000 Russia-Linked Crypto Addresses
• U.S. President Joe Biden to Order Studies on Regulating Crypto
• HIVE Blockchain Signs Deal to Buy Intel Mining Chips
• What is Merged Mining?
• CCDAS Summit - Get 10% Off for Being a Loyal Reader

Coinbase Blocks 25,000 Russia-Linked Crypto Addresses

Nasdaq-listed cryptocurrency exchange Coinbase has revealed it blocked over 25,000 cryptocurrency addresses linked to Russian individuals or entities that it believes have been engaging in illicit activity.

The block addresses represent about 0.2% of Coinbase’s 11.4 million month transacting users. In a blog post, Paul Grewal, Coinbase’s Chief Legal Officer, said the firm banned access for sanctioned individuals and is using blockchain analytics to identify addresses potentially linked to them. Grewal wrote:

“Today, Coinbase blocks over 25,000 addresses related to Russian individuals or entities we believe to be engaging in illicit activity, many of which we have identified through our own proactive investigations.”

Coinbase has shared the addresses with the government “to further support sanctions enforcement.”

U.S. President Joe Biden to Order Studies on Regulating Crypto

U.S. President Joe Biden is set to sign a long-awaited executive order directing the Justice Department, Treasury, and other agencies to study the legal and economic implications of creating a U.S. central bank digital currency.

The White House has said it was considering a wide-ranging oversight of the cryptocurrency market last year to deal with growing threats including ransomware attacks. Biden’s order sets a 180-day deadline for a series of reports on the “future of money” and the role cryptocurrencies will play in it.

The order will also direct the Justice Department to look at whether a new law is required to create a new currency, while the Federal Trade Commission and the Consumer Financial Protection Commission will study its potential impact on consumers.

Other studies would analyze the impact of cryptocurrency on competitiveness, the market infrastructure needed to support it, and the environmental impact of BTC mining.

HIVE Blockchain Signs Deal to Buy Intel Mining Chips

Canadian cryptocurrency mining firm HIVE Blockchain has revealed it signed a deal with chipmaker Intel to buy the company’s new ASIC mining chips in a deal that could increase its aggregate BTC mining hashrate by as much as 95%.

HIVE detailed that an original design manufacturer will incorporate Intel’s chips into an air-cooled BTC mining system. The system is expected to be delivered over a period of 12 months, starting in the second half of the year.

The Canadian company currently mines Bitcoin, Ethereum, and Ethereum Classic. It also announced a preliminary deal with mining infrastructure provider Compute North to host 100 megawatts of capacity at a renewable energy facility.

The deal could see HIVE move into the United States for the first time through an operation entirely powered by renewable energy.

What is Merged Mining?

Merged Mining is a process that enables cryptocurrency miners to mine two or more blockchain networks simultaneously; this allows them to compete for, and claim, separate block rewards without sacrificing their overall mining performance.

Whilst this method of mining is not as well known as others, it has historically been used by some very well-known projects, such as Litecoin and Namecoin, to piggyback onto larger blockchains that tend to be more active and secure.

This creates exposure for the network in question and provides additional security as more miners are incentivized to secure the network due to the additional block rewards.

Learn more about merged mining via CryptoCompare’s guide.

CCDAS Summit - Get 10% Off for Being a Loyal Reader

CryptoCompare's Digital Asset Summit is returning on 30th March at Old Billingsgate, London. As Europe's flagship institutional summit for digital assets, this is the perfect opportunity to connect with key industry decision-makers and leading names in finance who are adopting and embracing the digital asset revolution.

Time is running out to secure your place at The CryptoCompare Digital Asset Summit! CryptoCompare readers can save 10%  today with code NEWSLETTER10. You can find more information here

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