Spielworks, a blockchain-based gaming firm, has collaborated with Web3 platform Mycelium Network to provide a refund scheme for sales of non-fungible tokens (NFTs). In a press release, the team noted that participants in the program who purchase “Reverties” (a kind of NFT) are entitled to a complete USDC return. Users
July 12, 2023 2 mins read
In an effort to boost market transparency, the Financial Services Commission (FSC) of South Korea has mandated that beginning in 2024, crypto firms that issue or possess cryptocurrencies include particular crypto disclosures in their financial statements. The new law mandates that cryptocurrency enterprises disclose their coin’s revenues, volume, and market
July 12, 2023 1 min read
cheqd, a business that enables users and organizations to acquire control and portability over their data, has launched Credential Service, which provides organizations with an easy-to-use, plug-and-play solution for issuing and maintaining digital credentials. The “Credential-as-a-Service” provided by cheqd is a ready-made software-as-a-service solution that can be quickly implemented into any
July 12, 2023 3 mins read
Arcadia Finance, a protocol for non-custodial decentralized finance (DeFi), was hacked for over $455,000 due to a flaw in the code. The breach on Arcadia Finance was brought to light by blockchain investigator PeckShield. It attributed it to “the lack of untrusted input validation.” It was claimed that the code
July 11, 2023 1 min read
Prosecutors have summoned Terra co-founders Daniel Shin and 7 others to court on several accusations as South Korea pursues the extradition of Terra co-founder Do Kwon from Montenegro. In the first trial in South Korea, a court heard charges of fraud, breach of duty, embezzlement, and violation of the Capital
July 10, 2023 1 min read
Cameron Winklevoss, the co-founder of Gemini, has declared that he has sued the Digital Currency Group (DCG) and its CEO, Barry Silbert, in his personal capacity. The complaint claimed that DCG and Silbert defrauded creditors by keeping their money. This comes after Winklevoss, earlier this week, made the last offer
July 7, 2023 2 mins read
The Canada Securities Administrators (CSA) have issued new rules for investment funds that hold or intend to engage in crypto assets, focusing particularly on meeting the requirements of securities legislation. Unlike the US SEC, Canada is acknowledging the benefits of crypto and Bitcoin and is progressively loosening restrictions on investment
July 7, 2023 2 mins read
Bakkt CEO Gavin Michael has said that the business is considering expanding internationally to Hong Kong, the United Kingdom, and the European Union. This is because of the absence of a stable regulatory environment in the United States. The CEO stated: “We’re particularly focused on Hong Kong, the UK and
July 6, 2023 2 mins read
The successful conclusion of its independent Type 2 SOC 2 audit today represented a key milestone for Nexo, the leading institution for digital assets worldwide. With this move, Nexo demonstrates its dedication to providing clients with industry-leading client data protection and guarantees a superior user experience for the company’s continuously expanding
July 6, 2023 2 mins read
A central bank digital currency (CBDC) created by the United Kingdom is being discussed by financial institutions there. One of the major financial membership organizations in the United Kingdom, U.K. Finance, has responded to a consultation of the Bank of England on the potential introduction of a digital pound by
July 4, 2023 1 min read
