Chain News by Thebittimes.Com

According to official data available publicly, the state of Maine currently holds over $328 million in unclaimed property. A report issued by the Office of the Maine State Treasurer highlighted the U.S. state’s interest in officially managing the abandoned and recovered crypto assets. The program evaluation report of Maine uncovered the state ’s lack of preparedness when it comes to handling crypto currencies. It read: “Our office does not currently handle cryptocurrency, but programs like Unclaimed Property may need to start addressing the situation of abandoned cryptocurrency accounts.” According to official data, the state of Maine currently holds over $328 million in unclaimed property. The website requires the name, address and property ID information of claimants searching for an unclaimed property. Form for searching unclaimed property in the U.S. state of Maine. Source: maine.gov  The report also uncovered the state treasurer’s interest in implementing reforms for emerging i...

The accounts had over 8 million in combined followers before they were removed. Sina Weibo, one of the most popular Chinese social media apps with over 258 million daily active users, has removed 80 influencer accounts promoting crypto currency activities citing official legislation. According to the Sept. 5 announcement, 80 crypto influencer accounts with over 8 million in total followers had been "proactively removed" by Weibo. The accounts were accused of breaching eight regulations related to telecommunications, finance, banking, online marketing, securities, exchanges, and internet safety for their role in promoting cryptocurrencies.  The platform has been periodically sweeping out crypto accounts ever since China's crypto currency ban took effect in September 2021. In March, Weibo removed 131 accounts linked to crypto and stock trading activities.  The largest nationwide crackdown occurred in August 2022 when the Cyberspace Administration of China (CAC) remo...

On July 13, Coinbase CEO Brian Armstrong ran a poll on Twitter to assess whether Bank of America (BoA) is closing account s that transact with the exchange as alleged. Is Bank of America closing accounts of Coinbase clients? The poll has over 13,100 responses, with 8% of respondents saying their accounts have been closed. Still, this represents a minority of the total who are voting to mostly deny this claim. Voting ends in 11 hours when writing on July 13. Has @BankofAmerica closed your account due to transactions with @coinbase? Curious if this is the issue. — Brian Armstrong ️ (@brian_armstrong) July 13, 2023 The recent vote was prompted by Muneeb Ali’s claim that his bank account was abruptly closed after being active for 15 years. He appears to blame his interactions with Coinbase as a reason. Ali is the co-founder of Stacks that enable smart contracts on the Bitcoin network. Nonetheless, it should be noted that crypto is legal in the United States. Additiona...