While some regulatory agencies and governments are looking to crack down on the cryptocurrency industry, Wyoming is trying to attract it.
State Rep. Tyler Lindholm, a Republican representing the state’s first district, told Cheddar that the state has more than enough energy to support crypto mining.
“We actually only use about 10 percent of the power that we have,” he said during the Thursday interview. “Our wholesale [price for] kilowatt hours is one of the cheapest in the nation. On top of that, It’s diversified. We’ve got wind, we’ve got solar, we’ve got coal, we’ve got gas, and we’ve also got hydro.”
State legislators from both sides of the aisle have put five cryptocurrency-related bills in the pipeline. House Bill 70 is currently awaiting Republican Governor Matt Mead’s signature. If passed into law, it would exempt some crypto assets from securities laws.
State Senator Tara Nethercott (R-District 4) told Cheddar during the interview that Wyoming looks forward to building a partnership with the crypto space.
“I think Wyoming is uniquely situated with the appropriate infrastructure, with the appropriate regulatory environment, the appropriate culture and excitement to be a strong partnership with this particular industry,” she said. “So I have great hope for its future in Wyoming.”
For the full interview, [click here](https://cheddar.com/videos/how-wyoming-is-luring-blockchain-businesses).
New York City ride-hailing app drivers are about to get a pay raise. According to the city's Mayor Eric Adams, New York will increase its minimum driver pay rate for both Uber and Lyft drivers. This means both platforms would now be required to pay their drivers a minimum of $1.61 cents per mile and about 0.50 cents per minute. Ultimately, the move would give riders at least a 5.3% race. New York City Comptroller Brad Lander, joined Cheddar to discuss more.
A Senate bill unveiled on Wednesday looks to tackleonline safety for children by regulating Big Tech and social media platforms to deter users from content that can harm their mental health. Irene Ly, a policy counsel for the age-based ratings and review organization Common Sense Media, joined Cheddar News to break down the potential of the Kids Online Safety Act. "We can't be imposing such a big burden on parents to be doing it all on theirselves," Ly said. "I think you also have to keep in mind that parents often didn't grow up with social media, so they don't understand what it's like to be addicted to social media or really understand how they work."
While many still remain skeptical about the metaverse, big tech firms and even one big bank are ready to expand their virtual worlds. Facebook parent company has pivoted so hard it will now call its employees 'Metamates,' and even JPMorgan Chase has created its own digital lounge on one virtual platform. While the sector remains young, there seems to be significant investment opportunity, especially with companies like Nvidia. Adam Johnson, a portfolio strategist at Adviser Investments, joins Closing Bell to discuss which companies could win in this space, consumer appetite, and more.
Marc Blinder, Co-Founder and CEO of Aikon, joins Cheddar News' Closing Bell, where he discusses how his company is helping businesses use blockchain applications without needing to learn the intricacies of the new technology.
Senators Richard Blumenthal (D-Conn.) and Marsha Blackburn (R-Tenn.) have introduced a new bill to afford greater protection to minors on social media. The genesis of the Kids Online Safety Act came from a Facebook whistleblower case exposing the harm apps can have on the mental health of young girls.
