Asia banking giant DBS jumps into The Sandbox metaverse
The Singapore-based bank said it will buy land in the metaverse to create the ‘DBS BetterWorld’ and build a virtual community.
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Markets: Bitcoin, Ethereum hold gains, Terra Classic soars on Luna airdrop
Bitcoin held onto gains above US$19,000 in late afternoon trading in Asia. Ethereum also rallied to post the biggest gain among tokens in CoinMarketCap’s top 10 by market capitalization. Terra Luna Classic surged more than 50%. See related article: Markets: Bitcoin climbs above $19,000, Ether bounces back, BNB gains on staking Fast facts Bitcoin rose…
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China has seen blockchain’s future and it doesn’t include cryptocurrencies
China’s Blockchain-based Service Network wears two hats in building blockchains: one for business in China and one for everywhere else, but it doesn’t see a role for crypto in either.
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Slowdown in crypto interest to continue for rest of the year: KPMG
A slowdown in crypto investment — particularly in firms offering coins, tokens and non-fungible tokens (NFTs) — will continue in the second half of the current year, according to a new report by global audit and consulting firm KPMG. See related article: Siloed regulatory efforts unlikely to help bring oversight to highly decentralized crypto industry…
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Crypto exchange Bybit barred from brokering securities in Brazil
The Securities and Exchange Commission of Brazil (CVM) has banned Singapore-based cryptocurrency exchange Bybit from brokering “securities” within the country. See related article: Thailand mandates warnings on crypto ads Fast facts The CVM released a declaratory act, in an announcement on Monday, that ordered the suspension of Bybit’s security offerings and intermediation services directly or…
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India crypto exchanges plan long-term future as day traders flee
In facing a government hostile to cryptocurrency trading, Indian exchanges are trying to attract new business with suites of different investment products.
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Thailand mandates warnings on crypto ads
Cryptocurrency advertisements in Thailand must indicate potential risks of investing in the nascent asset class, the nation’s Securities and Exchange Commission (SEC) said in a statement on Thursday. See related article: Singapore central bank warns against crypto marketing, promotion Fast facts Crypto businesses in the Southeast Asian nation must report all details of advertisements and…
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IMF looks to build platform for cross-border CBDC transactions
The director and division chief of IMF’s Monetary and Capital Markets Department will soon publish a paper laying out a blueprint for a platform to support CBDC clearing and settlement transactions between multiple countries. See related article: Inter-country use key for CBDCs to reach potential: report Fast facts See related article: US Digital Dollar Project…
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Director at China’s Securities Regulatory Commission deep-dives into Web 3.0 in new book, a year after China’s crypto ban
Nearly a year after China banned crypto trading and mining, the director of the Technology Supervision Bureau at Chinaøs Securities Regulatory Commission has published a book discussing Web 3.0 and blockchain technology. See related article: Shanghai turns to metaverse, NFTs to counter lockdown economic fallout Fast facts Yao Qian’s book “Web 3.0: Changes and Challenges…
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Bybit to work with Circle to offer USDC spot pairs
Singapore-headquartered crypto derivatives exchange Bybit is partnering with Circle, the issuer of stablecoin USD Coin (USDC), to offer USDC spot pairs. See related article: Bybit to cut up to 30% of its workforce Fast facts Bybit said on Thursday it will offer Circle’s services to its users by expanding its USDC spot pair listings to…