Will the Harris-Walz presidential campaign prioritize crypto policy?

Pakistan has allocated 2,000 megawatts of surplus electricity exclusively for Bitcoin mining and artificial intelligence centers.The move is part of a broader digital transformation plan spearheaded by the Pakistan Crypto Council and backed by the Ministry of Finance, according to a May 25 report by local news outlet 24NewsHD TV Channel.In the first phase, the government plans to channel excess power into AI infrastructure and crypto mining operations. Finance Minister Muhammad Aurangzeb said the decision is expected to attract billions in foreign investment while generating high-tech employment across the country.The initiative’s second phase will introduce access to renewable energy for mining operations, aiming to balance growth with environmental responsibility.Related: Trump-backed World Liberty Financial partners with Pakistan Crypto CouncilPakistan unveils tax incentives to attract investorsPer the report, interest from international Bitcoin (BTC) miners and AI firms has already picked up. Officials confirmed that multiple foreign delegations have visited Pakistan in recent months to explore potential partnerships.To further incentivize investment, the Ministry of Finance announced a package of tax incentives for AI centers and duty exemptions for Bitcoin miners.Bilal Bin Saqib, CEO of Pakistan’s Crypto Council, reportedly welcomed the development, calling it a “turning point” for the country’s digital economy.Saqib claimed that with clear regulations and a transparent framework, Pakistan could emerge as a significant player in the global crypto and AI sectors.Saqib first proposed using the country’s runoff energy to fuel Bitcoin mining at the Crypto Council’s inaugural meeting on March 21.The meeting included lawmakers, the Bank of Pakistan’s governor, the chairman of Pakistan’s Securities and Exchange Commission (SECP), and the federal information technology secretary.Related: Pakistan proposes compliance-based crypto regulatory framework — ReportPakistan creates Digital Asset AuthorityOn May 21, Pakistan’s Ministry of Finance endorsed the creation of a dedicated body to regulate blockchain-based financial infrastructure in the country.The Pakistan Digital Assets Authority (PDAA) will serve as a regulatory body to oversee licensing and regulating exchanges, custodians, wallets, tokenized platforms, stablecoins, and decentralized finance applications.The PDAA will also be tasked with tokenizing national assets and government debt, facilitating monetization of Pakistan’s surplus electricity through regulated Bitcoin mining, and helping startups build blockchain-based solutions at scale.Pakistan ranked highly in Chainalysis’ 2024 crypto adoption index, coming in ninth, mainly due to strong retail adoption and transactions at centralized services.Pakistan ranked highly in Chainalysis’ 2024 crypto adoption index, coming in 9th. Source: ChainalysisData from Statista also shows Pakistan’s crypto market is “experiencing rapid growth,” estimating the number of crypto users to amount to over 27 million by 2025, out of a population of 247 million.Magazine: Bitcoin bears eye $69K, CZ denies WLF ‘fixer’ rumors: Hodler’s Digest, May 18 – 24

A Manhattan crypto investor is facing serious charges after allegedly kidnapping and torturing an Italian man in a disturbing bid to extract access to digital assets.John Woeltz, 37, was arraigned on Saturday in Manhattan criminal court following his arrest on Friday. He stands accused of holding a 28-year-old Italian man captive for weeks inside a luxury townhouse in Soho, reportedly rented for $30,000 per month.According to police reports cited by The New York Times, the victim arrived in the US on May 6 and was allegedly abducted by Woeltz and an accomplice.The attackers are said to have stolen the man’s passport and electronic devices before demanding the password to his Bitcoin (BTC) wallet. When he refused, the suspects allegedly subjected him to prolonged physical abuse.Source: Mario NawfalRelated: Violent crypto robberies on the rise: Six attacks that targeted investorsCrypto victim beaten, electroshockedThe victim described being beaten, shocked with electricity, assaulted with a firearm and even dangled from the upper floors of the five-story building.He also told police that Woeltz used a saw to cut his leg and forced him to smoke crack cocaine. Threats were also reportedly made against his family.Photographic evidence found inside the property, including Polaroids, appears to support claims of sustained abuse. The victim managed to escape on Friday and alert authorities, leading to Woeltz’s arrest.Woeltz was charged with four felony counts, including kidnapping for ransom, and entered a plea of not guilty. Judge Eric Schumacher ordered him to be held without bail. He is expected back in court on May 28.A 24-year-old woman was also taken into custody on Friday in connection with the incident. However, she was seen walking freely in New York the next day, and no charges against her were found in the court’s online database.Authorities have yet to clarify the relationship between the suspect and the victim or whether any cryptocurrency was ultimately stolen.Related: Crypto crime goes industrial as gangs launch coins, launder billions — UNCrypto executives turn to bodyguardsExecutives and investors in the crypto industry are increasingly seeking personal security services as kidnapping and ransom cases surge, especially in France.On May 18, Amsterdam-based private firm Infinite Risks International reported a rise in requests for bodyguards and long-term protection contracts from high-profile figures in the space.French authorities have responded by introducing enhanced protections for crypto entrepreneurs and their families, including security briefings and priority access to police assistance.This comes amid a recent surge in kidnappings and ransom attempts. David Balland, the co-founder of hardware wallet company Ledger, was kidnapped in January 2025 and held for ransom for several days before being rescued by French police.In May 2024, the father of an unnamed crypto entrepreneur was freed from a ransom attempt after French law enforcement officials raided the location in a Paris suburb where the individual was being held hostage by organized criminals.Magazine: Bitcoiner sex trap extortion? BTS firm’s blockchain disaster: Asia Express

President Donald Trump is facing scrutiny after speaking at a private event for top investors in his $TRUMP memecoin while standing behind a lectern emblazoned with the official presidential seal — a move that may violate federal law.The event took place Thursday at Trump National Golf Club in Virginia, where Trump addressed 220 investors in his cryptocurrency project.According to US law, the presidential seal cannot be used in any manner that could imply government approval or sponsorship. Violators can face fines or up to six months in prison.Trump, who arrived at the club aboard a military helicopter, praised attendees and took aim at the Biden administration’s crypto stance.When asked about potential conflicts of interest, White House Press Secretary Karoline Leavitt said the president’s involvement was personal. “It is not a White House dinner,” she told reporters. “It’s not taking place here at the White House.”Related: Pictures give glimpse inside Trump’s memecoin holder dinnerTrump features presidential seal at private propertiesThis isn’t the first time Trump has featured the presidential seal at his private properties. Forbes has previously reported its use as golf markers at several Trump-owned clubs.In a May 22 letter to the Justice Department, 35 House members asked the public integrity section acting chief, Edward Sullivan, to launch an inquiry over the memecoin dinner to determine whether it violated the federal bribery statute or the foreign emoluments clause of the US Constitution. Under the emoluments clause, a US president is barred from accepting any gift from a foreign state without the approval of Congress.Source: Molly PloofkinsBloomberg reported that a majority of the attendees at the memecoin dinner were likely foreign nationals based on their connections to crypto exchanges. “US law prohibits foreign persons from contributing to US political campaigns,” said the letter. “However, the $TRUMP memecoin, including the promotion of a dinner promising exclusive access to the President, opens the door for foreign governments to buy influence with the President, all without disclosing their identities.”Related: US lawmaker introduces anti-corruption bill ahead of Trump’s dinnerTrump embraces crypto despite previous skepticismTrump’s embrace of crypto marks a sharp turn from his skepticism during his first term. The $TRUMP memecoin, launched earlier this year, peaked at $74.34 before falling to $14.44 by May 22.High-profile guests at the dinner included Tron founder Justin Sun, ex-NBA player Lamar Odom, and Asian crypto executives Sangrok Oh and Vincent Liu.Sun, who reportedly invested over $40 million in $TRUMP tokens and spoke at the dinner, also has deep ties to Trump’s crypto ventures. He’s the top backer of World Liberty Financial, a Trump-affiliated firm currently under regulatory scrutiny.Magazine: Crypto scam hub expose stunt goes viral, Kakao detects 70K scam apps: Asia Express