The Hong Kong government has issued a clear directive to virtual asset service providers (VASPs): apply for a license by February 29 or cease operations by May 31. This announcement, made by Christopher Hui, the Secretary for Financial Services and the Treasury, underscores the city’s commitment to regulating the burgeoning virtual asset industry. Hui highlighted...
The Office of the Privacy Commissioner for Personal Data (PCPD) in Hong Kong has initiated an investigation into Worldcoin, the identity verification project co-founded by Sam Altman of OpenAI fame. The probe was launched amid growing apprehensions regarding the handling of personal data by the project, particularly focusing on its iris-scanning technology used for identity...
In a landmark operation, German authorities have confiscated approximately €2 billion ($2.17 billion) worth of bitcoins in Saxony. This seizure of 50,000 bitcoins marks potentially the largest of its kind in German history. The Saxon State Criminal Police Office spearheaded the operation, which is part of an ongoing investigation. The focus of the investigation is...
Darewise Entertainment, creators of Life Beyond, have forged a strategic partnership with DFZ Labs, the minds behind the Deadfellaz universe. This partnership is a significant move in the Web3 community, highlighting a blend of creative talents and community involvement. The two entities are embarking on a journey of collaborative growth and innovation. This partnership, grounded...
In a notable shift within the US political scene, data from Coinbase’s Stand with Crypto indicates a growing support for cryptocurrency among 18 US senators. This trend is predominantly observed within the Republican Party, spearheaded by notable figures such as Cynthia Lumnis and Ted Burr. Pro-Crypto Senators Lead Legislative Efforts Senators Cynthia Lumnis and Ted...
Nornickel, known globally for its nickel and palladium production, has taken a unique step in employee compensation by venturing into the world of digital assets. Last year, the miner initiated the Digital Investor program, where employees receive ‘minetokens’ — digital financial assets linked to the company’s stock. This move, launched in March 2023, represents a...
Despite a significant surge in Bitcoin value in 2023, Indonesia’s cryptocurrency tax revenue experienced a substantial decrease, according to the country’s Ministry of Finance. The total tax revenue collected from cryptocurrency transactions in 2023 amounted to $31.7 million (Indonesian Rupiah 467.27 billion), marking a 62% drop from the previous year. This decline occurred even though...
Unauthorized Post Triggers Bitcoin Frenzy, Raises Cybersecurity Concerns A recent cybersecurity incident involving the US Securities and Exchange Commission (SEC) has raised significant concerns. The SEC’s social media account on X was compromised due to a SIM swap hack, leading to the spread of false information regarding the approval of new bitcoin investment products. This...
In an unexpected turn of events, Terraform Labs, a notable player in the blockchain sector, has filed for bankruptcy. This development sends ripples through the crypto community, marking a significant shift in the landscape of blockchain enterprises. Terraform Labs, known for its innovative approaches in the blockchain domain, has faced numerous challenges leading to this...
Presidential Office Advocates for Spot Bitcoin ETFs South Korea’s Office of the President has made a significant move by urging the country’s financial regulator to consider the approval of a local spot Bitcoin exchange-traded fund (ETF). This initiative demonstrates South Korea’s interest in aligning its financial regulations with international trends, particularly in the realm of...
