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Crypto

Tether halts Bitcoin mining in Uruguay amid rising energy costs

Tether, issuer of the USDT stablecoin, has halted Bitcoin mining in Uruguay. The company said it ended operations but remains committed to long-term plans in Latin America. The move came weeks after reports that Tether owed 4.8 million dollars in power fees to Uruguay’s state utility. Tether notified the labour ministry of the shutdown and reportedly dismissed 30 local staff. It had partnered with a licensed firm on mining since May 2023.

Crypto

Uzbekistan allows pilot use of stablecoin payments

Uzbekistan is adopting a new regulatory system that allows stablecoins as an official payment method, according to local media cited by Cointelegraph. A tightly controlled sandbox will host the pilot. The central bank and NAPP are jointly running the programme, which includes distributed ledger technology projects. Companies will be allowed to issue tokenised stocks and bonds from 2025. The central bank is considering a CBDC but not a retail version. A Telegram subscription notice was included.