Belarusian President Aleksandr Lukashenko has urged officials to strengthen the country’s energy infrastructure and consider cryptocurrency mining to utilise surplus electricity.
Addressing newly appointed Energy Minister Aleksei Kushnarenko, he highlighted the need to upgrade 5,700km of power networks essential for homes and electric vehicles. While high-voltage systems are stable, weaker areas require reinforcement to prevent outages like those in the Gomel Region.
Belarus has been exploring crypto mining for years, with Energy Minister Viktor Karankevich confirming in 2021 that a feasibility study was conducted.
Lukashenko wants to accelerate these efforts, citing global demand for digital assets and the country’s potential to attract investors or establish state-backed mining operations. Officials have been given responsibility for streamlining regulations and presenting concrete plans.
Alongside crypto mining, Lukashenko promotes increased electricity use for heating and hot water, supported by plans for a second nuclear power plant.
He sees this as a long-term strategy to ensure energy reliability and economic growth, positioning Belarus as a key player in the digital asset space and sustainable energy development.
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US District Judge Yvonne Gonzalez Rogers ruled that Musk did not meet the high standards required to block the move. However, the judge indicated that she would expedite a trial on the matter, which is expected to take place later this year.
Musk, who co-founded OpenAI in 2015 but left before its major success, argued that OpenAI had initially sought his charitable funding to create AI for the public good, but has since shifted its focus towards making profits.
His lawyer, Marc Toberoff, expressed satisfaction that the judge had agreed to a swift trial, claiming that the case involves urgent public interest concerns.
OpenAI, which is seeking to become a for-profit entity to attract the necessary capital for its AI projects, welcomed the court’s decision.
The company emphasised that its goal is to develop advanced AI models to benefit society. Musk’s legal action, which also includes antitrust claims, stems from his frustration with OpenAI’s shift in direction since he departed from the organisation.
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The International Monetary Fund (IMF) has urged El Salvador to stop public-sector Bitcoin purchases as part of its $1.4 billion funding deal with the country. In newly issued documents, the IMF stressed that the government should not voluntarily accumulate Bitcoin or issue any debt instruments tied to it.
Méndez Bertolo, the IMF’s executive director for El Salvador, stated that the fund aims to improve governance, transparency, and economic resilience while mitigating Bitcoin-related risks.
Recent amendments to the Bitcoin Law have clarified Bitcoin’s legal nature, ensuring that its acceptance remains voluntary and that tax payments continue in US dollars. The public sector’s role in Bitcoin adoption has also been scaled back.
The IMF reaffirmed its stance that El Salvador’s Bitcoin engagement should remain limited, in line with international financial policies.
The government has committed to enhancing regulation and supervision of digital assets, aligning with evolving global standards. Despite these restrictions, President Nayib Bukele has continued to acquire Bitcoin, with the country’s holdings now reaching 6,100 BTC.
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India’s Enforcement Directorate (ED) has chosen CoinDCX to manage and store seized digital assets as part of a crackdown on cryptocurrency-related financial crimes.
The partnership follows high-profile fraud cases like GainBitcoin and BitConnect, which have raised concerns over investor protection. CoinDCX will offer secure custody services to safeguard these assets, implementing advanced security protocols to ensure their integrity.
In a recent case, the ED seized digital assets worth approximately $198 million linked to the BitConnect scam, which defrauded investors worldwide.
Earlier, the Central Bureau of Investigation (CBI) had seized $2.88 million in the GainBitcoin scam, uncovering evidence of financial misappropriation and cross-border transactions. These actions highlight the increasing efforts by authorities to tackle large-scale cryptocurrency fraud.
As cryptocurrency adoption rises in India, regulatory bodies are focusing on stronger enforcement to protect investors from fraudulent schemes.
The collaboration with CoinDCX is part of a broader strategy to ensure transparency in the handling of seized funds and to maintain the integrity of ongoing investigations.
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Nvidia and Broadcom are conducting manufacturing tests with Intel’s advanced 18A chip-making process, signalling potential confidence in the struggling company’s technology.
Sources indicate that the tests, though preliminary, could lead to major contracts worth hundreds of millions of dollars. Advanced Micro Devices (AMD) is also evaluating Intel’s capabilities, though it is unclear if it has sent test chips for validation.
Despite the interest, Intel’s foundry business has faced repeated delays, with its 18A process now pushed back another six months due to challenges in qualifying essential intellectual property.
The company has struggled to secure major external clients, with most of its foundry revenue still coming from its own chip production.
The US government sees Intel as critical to restoring domestic semiconductor manufacturing and has explored deals to strengthen its position, including potential partnerships with TSMC.
Intel has signed agreements with Microsoft and Amazon for chip production, though details remain vague. Industry experts suggest that many chip designers are waiting to see if Intel can reliably deliver on its foundry promises before committing to large-scale production.
Financial setbacks have placed additional pressure on Intel, with its foundry revenue declining 60% last year and break-even projections now delayed until at least 2027.
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The United States Senate has voted 70-27 to overturn an IRS rule that would have imposed new tax reporting requirements on decentralised finance (DeFi) brokers.
The decision, backed by both parties, follows concerns that the rule was impractical for platforms that do not operate like traditional financial institutions. Critics, including the digital asset think tank Coin Centre, argued that enforcing such measures would be ‘technologically unfeasible’.
The rule, introduced in December, aimed to broaden the definition of ‘brokers’ to include DeFi platforms, requiring them to report user data.
However, the resolution must still pass the House of Representatives before reaching President Trump, who is expected to sign it into legislation. If enacted, it would prevent the IRS from imposing similar rules in future, marking a significant victory for the cryptocurrency industry.
The Blockchain Association, representing firms like Coinbase and Kraken, welcomed the decision, saying it protects DeFi innovation from unnecessary restrictions.
The Senate’s move also aligns with previous efforts to reverse SEC standards on digital assets. It could pave the way for broader cryptocurrency regulations, with stablecoin and market structure laws expected to be discussed next.
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Vietnam‘s Prime Minister Pham Minh Chinh has instructed officials to fast-track approval for Elon Musk’s Starlink satellite internet service under a pilot programme.
Speaking to US business representatives in Hanoi, Chinh highlighted the country’s commitment to attracting foreign investment while maintaining control over key sectors. Vietnam recently adjusted its regulations to allow satellite internet providers to operate locally under strict government oversight.
Alongside discussions on Starlink, Chinh addressed Vietnam’s growing trade surplus with the United States.
The Southeast Asian nation, which recorded a record trade surplus last year, is under pressure to increase imports of American goods such as aircraft, arms, liquefied natural gas, and pharmaceuticals. By doing so, Vietnam hopes to avoid potential tariffs threatened by President Donald Trump.
Vietnamese officials are engaging in talks with US businesses and foreign investors to ease concerns over trade tensions and their impact on the country’s export-driven economy.
Further meetings with international companies are planned as the government works to strengthen economic ties while managing geopolitical challenges.
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BankPozitif, a leading digital bank in Turkey, has partnered with Swiss firm Taurus to provide institutional-grade cryptocurrency safekeeping services. This move places BankPozitif at the forefront of Turkey’s rapidly growing digital asset sector, as fintech adoption surges across the country. The bank will integrate Taurus-PROTECT™, a safekeeping platform for cryptocurrencies and tokenised assets, along with Taurus-EXPLORER™, which enables blockchain connectivity.
Chairman Dr Erkan Kork highlighted Turkey’s expanding banking sector, now worth 30 trillion liras, and the increasing demand for digital asset services. The partnership aligns with BankPozitif’s focus on innovation and digital transformation, reinforcing its commitment to staying ahead in the evolving financial landscape.
Taurus, which already collaborates with financial giants like Deutsche Bank and State Street, sees Turkey as a key market for the adoption of digital assets. With strong institutional interest and a constructive regulatory environment, the partnership signals a broader trend of traditional banks embracing crypto services to meet growing demand.
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CoreWeave, backed by Nvidia, announced on Tuesday that it is acquiring AI developer platform Weights & Biases as part of its efforts to expand its cloud platform ahead of its upcoming IPO. The deal will merge CoreWeave’s infrastructure and managed cloud services with Weights & Biases’ AI model training and monitoring tools, which are used by major tech companies such as OpenAI and Meta.
While the financial terms of the deal were not disclosed, technology news site The Information reported that it could be valued at approximately $1.7 billion. CoreWeave, based in Roseland, New Jersey, has seen significant growth, with an eight-fold increase in revenue forecast for 2024.
CoreWeave, whose customers include companies like Meta, Microsoft, and hedge fund Jane Street, is aiming for a valuation exceeding $35 billion in its IPO later this year. The acquisition is seen as a move to strengthen CoreWeave’s position in the competitive AI market ahead of its New York listing.
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South Korea’s financial regulators are closely monitoring Japan’s moves towards approving Bitcoin exchange-traded funds (ETFs), with reports suggesting that Seoul may follow suit if Tokyo takes further action. Since late last year, South Korea’s Financial Services Commission (FSC) has discussed Bitcoin ETF approval, but it has maintained a cautious stance towards crypto. However, recent developments in Japan have sparked new responses from South Korean regulators.
The Japanese Financial Services Agency (FSA) is reportedly considering reclassifying cryptocurrency as an investment tool and approving Bitcoin and altcoin ETFs. This potential shift has caught the attention of South Korean regulators, who have reviewed Japan’s policies and shared their findings within Seoul. The FSA aims to implement new crypto regulations by June, and this could set the stage for further legislative changes by 2025 or 2026.
While South Korean regulators have traditionally been hesitant, some financial chiefs have expressed concern over the country lagging behind rival nations. The FSC has recently indicated that it is unlikely to approve virtual asset ETFs shortly, citing Japan’s approach as a key reason. As Japan pushes ahead with its plans, it remains to be seen how South Korea will respond to these growing crypto policy shifts.
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