Virginia county Fairfax has begun investing a portion of a $35 million allotment into a cryptocurrency lending fund managed by global asset managers VanEck. The firm announced that it had received an initial tranche of the investment commitment from Fairfax County, which is allocating funds from two retirement systems into a variety of cryptocurrency-focused investment avenues. Fairfax County had previously hinted at delving into the world of decentralized finance (DeFi) yield farming as part of its progressive attitude toward the cryptocurrency space. The county began investing a small portion of holdings from its employees’ retirement system and the police officers’ …

The past week in the decentralized finance (DeFi) ecosystem saw many new developments from an adoption perspective and protocol developments. The European Commission added a new chapter on DeFi, showing the growing impact of the nascent ecosystem, while a county in the United States State of Virginia wants to put its pension fund in a DeFi yield. DeFi exploits became the center of attention again as recent research shows that in the first two quarters of 2022, DeFi protocols have lost $1.6 billion to various exploits. Rari Fuze hacker, who got away with $80 million worth of funds, was offered …

The United States Senate unanimously approved a bill amendment request that now allows traditional banks operating in the Commonwealth of Virginia to provide virtual currency custody services. Delegate Christopher T. Head introduced the bill (House Bill No. 263) back in January 2022, seeking an amendment to allow eligible banks to offer crypto custody services: “A bank may provide its customers with virtual currency custody services so long as the bank has 26 adequate protocols in place to effectively manage risks and comply with applicable laws.” The bill passed Senate with a sweeping 39-0 vote and is waiting to be signed …

In the United States, Virginia’s state legislature looks to study blockchain to improve elections and voting. Prefiled on Dec. 27 and scheduled for offering on Jan. 8, a new bill requesting further study into blockchain-based elections has emerged in Virginia’s General Assembly. The bill, House Joint Resolution 23, asks the Department of Elections to determine whether blockchain technology should be considered to secure voter records and election results. What the bill could mean for Virginia’s elections The bill’s patron is state delegate and cybersecurity specialist Hala Ayala (D-51). It is currently waiting for committee assignment, and will have a long …

Fairfax county of the United States state of Virginia, has invested $21 million in Morgan Creek Blockchain Opportunities Fund, according to an official note published on Feb. 13. Jeff Weiler, Executive Director at Fairfax County Retirement Systems, clarified the terms of recent investments in Morgan Creek Digital that reportedly amounted to $40 million. The statement’s aim was to qualm pensioner concern over the recent investment, as some were worried that their pensions could be lost due to volatility in cryptocurrency markets. In this context, Weiler explained that the county has invested money in the underlying technology of crypto, claiming that …

West Virginians have begun using a blockchain-based mobile voting app for casting absentee ballots in the upcoming midterm elections, Slate reported September 25. Citizens of West Virginia that currently live overseas have reportedly started using a blockchain-enabled application for voting on Friday, September 21. The application — dubbed Voatz — will allow voters registered in 24 countries to cast absentee ballots via smartphone, mainly targeting military members stationed abroad. The pilot project for remote voting, which was only available to a select group of voters, started in March and was successfully completed on May 8, the day of West Virginia’s …

Free and fair elections are one of the pillars of healthy democracies. From the United States to Sierra Leone, advocates of blockchain believe that the technology can bring a new level of transparency, fairness and efficiency to the electoral process. In spite of the enthusiasm of the blockchain community — and tentative support from political bodies — attempts to implement the technology have enjoyed mixed success and have faced impassioned criticism. Japan’s scientific hub trials blockchain In late August, the Japanese city of Tsukuba trialed the use of blockchain technology in its voting system. Tsukuba is a city already closely …

U.S. troops serving overseas will be able to use a smartphone app based on blockchain technology for casting federal election ballots in West Virginia this November, CNN reports August 6. The mobile voting platform, Voatz, employes facial recognition software to ensure that each voter matches their government-issued identification. CNN notes that the West Virginia will limit the use of the mobile app mainly to troops currently abroad. The West Virginia Secretary of State, Mac Warner, and Voatz, the Boston-based app developer, told CNN that they believe the app is secure after successful tests in two counties for the state’s spring …

A 17-year-old jihadist teenager from Virginia faces up to 15 years in prison for blog and Twitter posts about encryption and Bitcoin, Bitreserve has announced that it is dropping fees for currency conversions, and more top stories for June 12. Jihadist US Teen Faces Prison for Blog and Tweets About Encryption and Bitcoin A 17-year-old Virginia teenager faces up to 15 years in prison for blog and Twitter posts about encryption and Bitcoin that were geared at assisting ISIL. The teenager, who contributed to the Coin Brief news site, pleaded guilty to a federal charge of providing material support to …