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Today in Crypto: Saga Pulls Back From Blockchain Gaming, Bitfinex Recovers More Stolen Assets, BarnBridge DAO Members Told to Stop 'All Work' Amidst Investigation, Lightning Labs Releases Tools for Bitcoin Lightning & AI Devs
7.7.2023
Get your daily, bite-sized digest of cryptoasset and blockchain-related news – investigating the stories flying under the radar of today’s crypto news.__________...
Read More: Today in Crypto: Saga Pulls Back From Blockchain Gaming, Bitfinex Recovers More Stolen Assets, BarnBridge DAO Members Told...
Multichain Woes: Users Informed of an ‘Abnormal’ Transfer of Assets to Unknown Address
7.7.2023
Users of the cross-chain protocol Multichain were on July 6 informed of an abnormal transfer of lockup assets on the Multichain MPC address to an unknown address. While the Multichain team has urged users to stop using the cross-chain protocol, Binance CEO Changpeng Zhao (CZ) told his followers...
IMF Working Paper Urges Tax System Overhaul to Tackle Crypto’s Tax Collection Challenges
7.7.2023
A research paper published by the International Monetary Fund (IMF) warns that tax collection is significantly more challenging with cryptocurrency assets, and current tax systems are not designed to handle them. The IMF’s working paper emphasizes that certain crypto assets may not persist...
BAYC-Centric Apecoin Hits All-Time Low, Suffers 92% Decline From Last Year’s Peak
6.7.2023
In the midst of a considerable drop in the base price of non-fungible tokens (NFTs) from the Bored Ape Yacht Club, the related cryptocurrency, apecoin (APE), has likewise suffered due to the bearish trends in that specific market. While many crypto assets have seen an increase in worth over...
Anchorage Digital's Assets Under Custody Surge Amid Increased Demand for Safe Crypto Storage
6.7.2023
The San Francisco-based crypto bank Anchorage Digital has seen a surge in its business this year, as institutions seek safer ways to store their crypto, Bloomberg has reported.
In the first quarter of 2023, Anchorage Digital’s assets under custody rose 80% compared to the prior quarter, the report...
The EU’s Leaked Metaverse Strategy Proposes Global Regulatory Governance Rules
6.7.2023
The race to build the perfect virtual ecosystem, popularly termed the metaverse is taking shape with huge technology-driven companies at the fore.
However, regulators within the European Union (EU) have warned of a possible monopoly at the detriment of smaller companies that can lead to...
Namibia passes bill to regulate crypto and virtual assets
6.7.2023
The purpose of the legislation is to establish a framework for licensing and regulating virtual asset service providers
Report: Namibian Parliament Passes Crypto Regulation Bill
6.7.2023
The Namibian parliament recently passed a bill that aims to establish a regulatory regime for cryptocurrencies. According to the Namibian Finance Minister, safeguarding the interests of consumers and combating market abuse are some of the reasons why parliament has taken this step. Mitigating Money...
Saxo Bank Ordered to Liquidate Its Portfolio of Crypto Assets by Danish Financial Regulator
6.7.2023
According to a July 4, 2023 press release from the Danish Financial Supervisory Authority, Denmark’s Saxo Bank has been instructed to liquidate its holdings of cryptocurrency assets. The financial regulator maintains that Saxo Bank’s portfolio of crypto assets falls “outside...
Bitcoin Leaves Major Assets in the Dust: Surges 80% in the First Half of 2023, Soars to 12th Largest Global Asset
5.7.2023
In the first half of 2023, eye-opening statistics reveal that bitcoin (BTC), the leading cryptocurrency, demonstrated remarkable performance by surpassing various significant assets such as the Nasdaq Index, Nikkei 225 Index, Dow Jones, S&P 500, Russell 2000, spot gold, the U.S. Dollar Index...
Denmark Financial Watchdog Directs Saxo Bank to Liquidate its Crypto Assets
5.7.2023
Denmark’s Financial Supervisory Authority (FSA) has directed Saxo Bank, a Copenhagen-based multi-asset broker, to dump its cryptocurrency holdings.
The bank’s trading in crypto assets for its own account is found to be “outside the legal business area of financial institutions,” the regulator...
New BRC69 Token Standard Promises 90% Savings for Bitcoin’s Ordinal Inscriptions
5.7.2023
While Ordinal inscriptions continue to rise, nearing the 15 million range, a new token standard was revealed on July 3 called BRC69. According to the creators of the concept, it can reduce the costs of inscriptions for Ordinal collections by over 90%. The launchpad Luminex, which announced...
Reality TV Star Phaedra Parks Empowers 13-Year-Old Son With $150,000 to Invest in Cryptocurrency and Rental Properties
4.7.2023
According to a recent interview with “Real Housewives of Atlanta” cast member Phaedra Parks, the reality TV star gave her son $150,000 to invest and learn about building wealth. Parks mentioned that her 13-year-old son, Ayden, is particularly interested in rental properties...
Report: Revolut to Delist Polygon, Solana, and Cardano Amidst Evolving US Regulations
3.7.2023
According to a report published on Monday, the British fintech firm Revolut plans to delist the cryptocurrency assets polygon, solana, and cardano from its U.S.-based platform. Revolut cited evolving regulations in the United States, and users will need to sell the three tokens by September 18th....
UK Law Commission recommends 'distinct' legal category for crypto
3.7.2023
The U.K.’s Law Commission highlights four major recommendations to reform laws relating to cryptocurrency use and ownership
Singapore to require crypto firms to put user assets into trusts by year-end
3.7.2023
MAS is also working to restrict crypto service providers from facilitating lending or staking for retail customers, but not for institutional ones
Thai SEC bans the use of customer crypto assets for lending and investment
3.7.2023
Investor protection regulations have been under discussion since September 2022 amid the crypto lending crisis that saw firms such as BlockFi and Celsius declare bankruptcy
OKcontract joins the Sandbox for Metaverse Assets!
3.7.2023
The Sandbox, a leading decentralized virtual world with over 400 global partners, initiated its Partners Day event in Singapore on June 27, showcasing its expanding Singapore ecosystem. Introducing the Lion City, a neighborhood of 512 virtual LANDs within The Sandbox metaverse, the event saw...
Singapore's MAS Orders Crypto Firms to Keep Customer Assets in a Trust by Year-End
3.7.2023
Crypto service providers in Singapore are now required to safekeep customer assets under a statutory trust before the end of the year
Poly Network urges users to withdraw after exploit affects 57 crypto assets
3.7.2023
The Poly Network has been exploited again, this time due to compromised private keys according to blockchain security firm Dedaub