Cryptocurrency Analysis and News Portal
The Financial Stability Board (FSB) — the global body that monitors the financial services industry — released a report on Nov. 28 claiming the crypto industry might need additional regulations to prevent another catastrophe on the scale of the FTX scandal.According to the report, the FSB said the market turmoil
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The FSB, which monitors financial systems and proposes rules to help prevent financial crises, said it was assessing the financial stability implications of multifunction crypto-asset intermediaries (MCIs) in July. MCIs are individual firms or groups of affiliated firms that combine a broad range of services, products and functions typically centered
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Menon mentioned how Project Guardian, led by MAS and industry partners, is tokenizing foreign exchange, bonds, and funds to enhance global liquidity, streamline cross-border transactions, and improve operational efficiency in financial markets, with trials by major global banks. Original Source
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Crypto lender Hodlnaut’s days appear to be numbered after the High Court of Singapore ended judicial management and ordered its liquidation. Users’ funds have been frozen since August 2022. Former Hodlnaut interim judicial manager (IJM) Aaron Loh Cheng Lee announced in a letter dated Nov. 10 and posted on the website
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Stablecoin issuer Circle Internet Financial is considering going public, although no final decision has been made yet. USDC issuer Circle Internet Financial Ltd. is weighing an IPO in 2024, three years after the firm announced its plans to go public via a special purpose acquisition company (SPAC) deal with Concord Acquisition
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Non-fungible tokens (NFTs) witnessed a 15% surge in trading volumes thanks to the U.S. Securities and Exchange Commission’s (SEC) failure to file an appeal in the Grayscale Bitcoin Trust case. According to on-chain data aggregator CryptoSlam.io, the NFT ecosystem encountered a substantial 15% uptick in the past 24 hours. Total trading volume
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The Taiwanese government is planning to release guiding principles by the month end, in order to boost information disclosure for crypto exchanges. Taiwan is preparing to introduce some sweeping regulatory changes while restricting offshore exchanges from operating in the country without any proper compliance in place. The Financial Supervisory Commission (FSC)
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Harvard legal scholar and Yeshiva University law professor Christine Kim recently published a research paper detailing arguments for not only taxing the metaverse but treating it as “a laboratory for experimenting with cutting-edge policy.”In the paper, dubbed simply “Taxing the Metaverse,” Kim argues that the metaverse allows participants to create
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In response to critics who claim Web3 gaming isn’t sustainable or fun (which may have held merit at one point), the industry has invested heavily in R&D, user experience and collaborating with traditional gaming businesses. The down market washed away a lot of flawed models and uninspiring storylines, and reignited
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The EOS Network Foundation (ENF) is the latest entity to initiate legal action against major investor Block.one (B1) over failure to honor $1 billion investment commitments.On July 25, ESN founder and CEO Yves La Rose took to Twitter to announce that the ESN is preparing a lawsuit against B1 for
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