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Marathon Will Only Mine “Fully Compliant” Bitcoin Transactions

Marathon Digital Holdings, an important US-based mining firm, has announced the release of the first North American Bitcoin mining pool that will be “fully compliant with US regulations.”

The announcement came yesterday, and it mentions that the pool follows the US anti-money laundering guidelines and rules that were put in place by the Office of Foreign Asset Control (OFAC). Marathon will make sure that the transactions that are processed by its pool will follow the regulatory standards by using technology licensed exclusively by DMG Blockchain so that the filtering can take place properly.

The company will start diverting 100% of the current hash power to the new pool starting with May 1st. The new pool will also accept hash power pooled from several other US-based miners starting June 1st. By next year, the company predicts it will have deployed 103,120 miners to direct 10.37 exahashes per second to the mining pool – this represents about 6.4% of the current combined hash rate of the Bitcoin network.

Since Marathon will completely avoid transactions made by individuals on the US Department of Treasury’s Specially Designated Nationals and Blocked Persons List, the company says the operations will be completely compliant with regulations.

CEO and chairman of Marathon, Merrick Okamoto, spoke about the fact that, while institutional interest in Bitcoin is growing, the absence of regulations is keeping companies away from taking part in Bitcoin mining:

“While institutional interest in Bitcoin is accelerating, many large funds and corporations have expressed concerns over purchasing Bitcoin that may have been tainted by nefarious actors. While we appreciate some miners’ appetite for processing transactions indiscriminately, it is our belief that as a publicly listed company based in the United States, and as one focused on enabling more institutional adoption of Bitcoin, it is our responsibility to follow U.S. regulations.”

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