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Europe's Expanding Crypto Landscape: DeFi and Web3 on the Rise
18.10.2023
The digital asset ecosystem in Europe expands as institutions broaden their services to decentralized finance (DeFi) amid market turmoil.
A new market report released by on-chain analytics from Chainalysis shows industry growth in Central, Northern, and Western Europe (CNWE) as well as the United...
FTX Scandal: What the Latest Testimony Means for the Cryptocurrency Industry
18.10.2023
As the FTX trial is unfolding, recent testimony has revealed major internal issues at the cryptocurrency exchange, raising questions about the industry at large. The revelations come amid a week of heated courtroom debates and could reshape the way cryptocurrency exchanges operate in...
TRON achieves significant milestones in Web3
18.10.2023
TRON is currently the second-highest blockchain in terms of Total Value Locked (TVL). It has achieved this feat along with others, like averaging 5 million transactions every day for a total of 6.5 billion transactions to date. If anything, this reflects inventors’ trust and confidence in...
Europe’s Data Agencies Express Concerns Over Privacy Standards with The Digital Euro
18.10.2023
The European Union (EU) data protection agencies have flagged possible areas concerning user privacy exposures of the proposed digital euro.
In a joint release on Oct 18, the European Data Protection Board (EDPB) and the European Data Protection Supervisor (EDPS) highlighted their opinion on...
Global Regulator: Crypto Exposure Reporting Should Be Mandatory for Banks
18.10.2023
The Basel Committee on Banking Supervision has underscored the importance of disclosing banks' cryptoasset exposures, emphasizing the need for standardized reporting and greater transparency in the crypto space.
In a consultative document, the committee proposed mandatory reporting requirements...
Coinbase Lobbying Strategy Faces Hurdles Following Hamas Crypto Use: Berenberg
18.10.2023
Financial analysts at Berenberg view recent reports of Hamas crypto donations as a major stumbling block to the pace of positive crypto regulations globally.
In an Oct 18 research document, the wealth manager stated that Coinbase's intense digital asset lobbying efforts in the United States might...
Calgarians Lost $22.5 Million in 340 Reported Crypto Scams This Year, City Police Warns
18.10.2023
Citizens of the Canadian city of Calgary have fallen victim to 340 crypto-related scams, losing over $22.5 million in this year alone, claims report.
The Calgary city police service said in a report Monday that the city residents have so far lost more than $22.5 million in cryptocurrency scams,...
Singapore Establishes Task Forces to Assist Police in Crypto-Related Crimes
18.10.2023
Singapore's Attorney-General's Office has officially established two specialized task forces, comprising approximately 20 prosecutors, tasked with addressing the crypto related crimes.
Deputy Chief Prosecutor of the Attorney-General's Chambers, Ong Shouren, told a local news outlet that...
Major Japanese Businesses Ask Gov’t to Reform Crypto Tax System
18.10.2023
Some of Japan’s biggest businesses have asked the nation’s government to make crypto tax reforms, as the country continues to pivot to Web3 and crypto.
Per an official Japan Association of New Economy (JANE) announcement, the group has submitted a tax reform proposal to Tokyo.
JANE has asked...
South Korean Regulator to Establish Standards for Issuance and Distribution of Crypto
18.10.2023
South Korea’s Financial Supervisory Service (FSS) is looking to establish comprehensive guidelines for the issuance and distribution of cryptocurrencies to enhance the Virtual Asset Users Protection Act passed earlier this year.
Under this new legislation, authorities are mandated to formulate...
Fidelity Digital Assets Become First Corporate Client to Leverage EY’s Blockchain Analyzer
18.10.2023
‘Big Four’ accounting behemoth Ernst & Young (EY) unveiled Tuesday that Fidelity Digital Assets, the digital asset arm of Fidelity Investments, has adopted EY’s latest blockchain analytic tool.
Dubbed EY Blockchain Analyzer: Reconciler, the tool is available through EY Blockchain’s Software as...
‘Crypto Rug Pull’ Leaves ‘Hundreds’ of Central African Republic Investors ‘Penniless’
18.10.2023
Police in the Central African Republic suspect a rug pull after the operators of a crypto firm “vanished overnight.”
The news outlet RFI reported that the Research and Investigation Section (SRI) of the National Gendarmerie (the CAR’s police force) have “launched an investigation” into the firm....
Fantom Foundation Faces Major Security Breach – $6.7 Million Lost
18.10.2023
The Fantom Foundation, the team dedicated to building the Fantom network, has reportedly fallen victim to a hack that led to a significant loss of approximately $6.7 million worth of digital assets.
On October 17, the Fantom Foundation encountered a hacking incident, as reported by on-chain...
Feds’ Bowman Dampens Hope of a US-backed CBDC in the Future
18.10.2023
Federal Reserve Governor Michelle Bowman believed that implementing U.S. central bank digital currency (CBDC) could pose significant risks and tradeoffs for the country’s economic system.
The Fed’s Governor announced this at the Harvard Law School event in Washington on October 17.
Bowman...
Binance US Ends FDIC Insurance for Crypto Holdings, Citing Updated Terms of Service
18.10.2023
The US Branch of the world's largest crypto exchange, Binance US, recently communicated to its users that their cryptocurrency deposits are no longer covered by Federal Deposit Insurance Corporation (FDIC) insurance.
In an email sent to its customers on October 16, Binance US announced updates...
EU Crypto Investor Protections Won’t Kick In Until Dec. 2024: ESMA
17.10.2023
European crypto investors will have to wait a little longer for the full provisions of Markets-in Crypto Assets (MiCA) to kick in, according to the European Securities and Markets Authority (ESMA).
In an October 17 official release, ESMA stated that crypto investor protections would take longer...
Bankrupt Crypto Lender Genesis Faces Deadline: New York Court Orders Compliance With Terra Subpoena Within 5 Days
17.10.2023
After failing to respond to a prior order, embattled crypto lender Genesis has been subpoenaed by a New York court to produce documents related to the collapse of the algorithmic stablecoin TerraUSD (UST) last year.
In a court order dated October 13, Judge Jed Rakoff noted how Genesis hadn’t...
Ethereum Layer-2 Scaling Solution Scroll Goes Live
17.10.2023
Scroll, an Ethereum layer 2 (L2), has announced the launch of its zkEVM mainnet, which allows developers to have increased speeds, latency, and lower fees to build decentralized applications (dApps).
According to the open letter by the L2 network blog on October 17, the launch of Scroll mainnet...
Crypto Political Capital Grows: University of Arkansas Partners with Coinbase and Haun Ventures
17.10.2023
Crypto-focused investment firms Coinbase Ventures and Haun Ventures are joining forces with the University of Arkansas to support a technology accelerator program, strengthening the US state of Arkansas's position in the crypto landscape.
Arkansas offers a unique blend of entrepreneurial spirit...
Bank of Canada Assesses DeFi’s Innovation and Challenges on Financial Markets
17.10.2023
The Bank of Canada published a staff analytical note that mirrors the development of decentralized finance (DeFi) alongside possible routes of wider market regulations.
The staff note released on Oct 17 shows the development stages of the cryptocurrency market, its benefits to challenges facing...