Kiffmeister’s #Fintech Daily Digest (05/26/2021)*

FYI I’ve updated my central bank digital currency (CBDC) explorer tabulation for the latest developments out of Indonesia and South Africa. 

Iran bans cryptocurrency mining for 4 months amid power cuts

Iran banned the mining of crypto-assets after a series of blackouts across major cities. The ban is effective immediately and will last until September 22. Iranian officials blame a surge in mining — as well as increased manufacturing and a drop in hydroelectricity supply — for blackouts that are playing havoc with businesses and daily life. 

Crypto banking legislation signed into law in Nebraska

The Nebraska Financial Innovation Act was signed into law. The legislation creates a new state banking charter for digital asset depository institutions, modeled after similar legislation passed last year in Wyoming, that paved the way for Kraken to become the first official state-level crypto bank in the US. Japan-based Telcoin, a blockchain-based fintech, drafted the legislation as it seeks to bring its digital asset-backed financial services to US consumers. 

*For those interested in intra-day updates and news that didn’t make the Daily Digest cut, please check out my Diigo fintech bookmarks: