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Over the last year, a series of court cases have struck the crypto industry. Bankruptcy, liquidity issues and fraud have caused the industry to fall under the microscope of regulators around the world.The former cryptocurrency brokerage company Voyager Digital, Alameda Research - the investment arm of FTX- and cryptocurrency exchange
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The Central Bank of Russia has added another entity to its register of authorized issuers of digital financial assets. The platform, called ‘Masterchain,’ becomes the fifth ‘information system operator’ in the country that can legally tokenize traditional assets and organize their trade. Number of Licensed Digital Asset Issuers in Russia
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Nonfungible tokens (NFTs) prove ownership by creating a unique digital certificate for a specific asset. A decentralized digital ledger that keeps track of all nonfungible token transactions and ownership changes is used to create each NFT. When generated, an NFT has a unique digital signature, signifying the ownership of
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Thailand’s government has said companies that issue digital tokens will receive a waiver that exempts them from paying corporate and value-added tax. According to a report, the Thai government anticipates losing just over $1 billion in tax revenue as a result of the waiver. Relaxation of Tax Rules for Investments
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According to the Central Bank of Brazil, the digital real pilot project will use an Ethereum-compatible, permissioned blockchain for the issuance of the tokenized version of the country’s currency. Hyperledger Besu, the open-source platform elected for the tests, will allow the project to run without any licensing costs and to
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Lego, the Danish toy company famous for its colorful plastic bricks, expects to diversify its entertainment offerings portfolio, targeting the metaverse. The company is preparing to present a virtual world in partnership with Epic Games, the gaming engine company, to continue increasing its market share and growth streak by entering
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Federal Reserve Chairman Jerome Powell has provided an update on the Fed’s central bank digital currency (CBDC) work in a hearing before the House Financial Services Committee. While stating that the Fed is “making progress on technological issues,” Powell stressed that “policy issues are equally important.” Fed Chair Powell on CBDC
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Statements from Republican lawmakers ahead of the inaugural hearing of the United States House of Representatives subcommittee focused on digital assets, financial technology and inclusion suggest partisan divides on crypto regulation.In a March 6 memo, House Financial Services Committee Republicans said the first hearing of the Subcommittee on Digital Assets,
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Notable investors such as Reid Hoffman, Gwyneth Paltrow and Cozomo de Medici participated in the seed funding round. Source
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