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A Bitcoin Mining Pool: We only approve transactions that comply with US law!


Marathon Digital Holdings intends to devote all its hashtag power to the new bitcoin mining pool, which is subject to anti-money laundering regulations, from May 1; This means that only transactions that are not on the US Treasury Department’s blacklist are approved by this pool.

to the Report Coin Telegraph, a large marathon mining company formerly known as the Marathon Patent Group, has announced the launch of the first bitcoin mining pool in North America, which it says is “fully in line with US regulations.”

According to a statement issued yesterday, the pool adheres to US anti-money laundering guidelines and regulations set by the Office of Foreign Assets Control (OFAC).

The marathon will use a special technology to ensure that transactions processed by this pool meet regulatory standards. [آمریکا] Correspond. This technology is licensed exclusively by DMG Blockchain and allows the transfer of filters.

From May 1, the company will transfer 100% of its current hash power to the new pool. The new marathon pool will also begin accepting hash power from other US-based extractors on June 1.

The marathon expects to employ 103,120 miners by 2022 to increase the pool’s hash power to 10.37 exacerbations per second. This hash power is approximately equal to 6.4% of the current bitcoin network hash rate.

Marathon refuses to accept transactions made by individuals on the US Treasury Department’s blacklist, claiming that its operations will be in full compliance with US regulations.

The announcement does not specify how demo technology identifies transactions issued by individuals on the US Treasury Department’s blacklist.

Merrick Okamoto, chairman and CEO of Marathon, said that despite the recent increase in bitcoin acceptance by institutions, the lack of regulatory guarantees has led many companies to withdraw from bitcoin mining.

Okamato said:

While institutional interest in bitcoin is accelerating, many funds and large corporations have expressed concern about the purchase of bitcoins contaminated by criminals.

He added:

We appreciate the willingness of some miners to process transactions without discrimination, but we believe that as a public listed company in the United States, and a company focused on increasing the institutional acceptance of bitcoin, we have a responsibility to comply with US regulations. .

Despite the apparent reluctance of institutions to participate in bitcoin mining, analysts believe that some US investors have traded in shares of large mining companies as a way to gain legal access to bitcoin markets.

Last week, the Telegraph reported that the performance of bitcoin mining stocks had averaged 455 percent better than Bitcoin (BTC) over the past 12 months. This means that at the same time that Bitcoin has experienced 900% growth, these stocks have grown by almost 5000%.

Leeor Shimron, Vice President of Digital Asset Strategy at Fundstrat, speculated:

Until a tradable bitcoin hedge fund is approved, investors may consider publicly traded companies as the only way to invest in bitcoin.

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