New regulations for virtual asset service providers (VASPs) in Dubai have been announced by the Virtual Asset Regulatory Authority (VARA). It is the government body in charge of regulating cryptocurrencies there. Irina Heaver, a lawyer specializing in blockchain and cryptocurrencies located in the United Arab Emirates. She has informed that
February 7, 2023 1 min read
The Financial Conduct Authority (FCA) has warned that businesses that promote cryptocurrencies outside of one of four approved channels might be subject to criminal penalties including up to two years of jail time. Any advertising under the new regulations must be produced by or with the consent of an individual
February 6, 2023 1 min read
On Monday, Binance, the biggest cryptocurrency exchange in the world, said that it will be supporting the Terra Classic (LUNC) upgrade. At block height 11,543,150, the Terra Classic (LUNC) network will be upgraded, likely on February 14th. Proposal 11310 is a part of the Joint L1 Task Force development group.
February 6, 2023 1 min read
At the StarkWare Sessions 2023, Visa’s head of crypto business Cuy Sheffield said that the corporation aims to create a “muscle memory” to settlements by enabling clients to convert digital assets to fiat currency on its platform. In a fireside discussion during the conference, Sheffield said: “We’ve been testing how
February 5, 2023 2 mins read
While in Sri Lanka this week to film an edition of his “Meet the Drapers” TV programme with local businesses, billionaire investor and venture capitalist Tim Draper allegedly sought to persuade the government and central bank to accept bitcoin. According to Bloomberg, on Tuesday the billionaire met with Sri Lankan
February 5, 2023 1 min read
Interfax reported that Moscow-based state-owned financial services provider Sberbank is developing a decentralized finance (DeFi) application. According to Konstantin Klimenko, head of products for the blockchain lab at Sberbank, the platform is now under closed beta testing. Based on Ethereum, the platform will be compatible with the Web3 wallet MetaMask.
February 4, 2023 2 mins read
BitMEX founder Arthur Hayes said on Saturday that the founders of Three Arrows Capital, Kyle Davies and Zhu Su, and CoinFLEX, Mark Lamb and Sudhu Arumugam, have successfully secured funding for their new cryptocurrency exchange GTX. By the end of February, the exchange’s founders want to have marketed themselves, as
February 4, 2023 2 mins read
As private sector demand has decreased in tandem with the sell-off in cryptocurrencies for much of the last year. Chainalysis is laying off around 44 of its 900 workers, or 4.8% of its staff. According to Maddie Kennedy, the company’s senior director of communications, the layoffs will mostly affect members
February 2, 2023 1 min read
Post the FTX fiasco, regulators and authorities around the world are cautious about crypto exchanges. Indonesia, one of several nations rapidly adopting cryptocurrencies, wants to build the world’s first government-backed crypto exchange by June 2023 at the earliest. The Ministry of Trade of Indonesia had planned to debut the market
February 2, 2023 2 mins read
Affyn, a blockchain startup based in Singapore, is getting ready to launch London (750 plots), Dublin (500 plots), and Glasgow (500 plots) as part of Wave 1 in conjunction with the 44-city reveal of their flagship metaverse, NEXUS World. This comes shortly after the success of their “City Launch Wave
February 2, 2023 2 mins read
