Indian Finance Minister Pushes for International Cooperation on Crypto Regulation — Discusses Awareness Campaign
Indian Finance Minister Nirmala Sitharaman has stressed the importance of international cooperation in order to regulate the crypto sector. She also confirmed that Indian regulators’ crypto awareness campaign will continue to alert people about the risks of investing in crypto.
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Indian Finance Minister Nirmala Sitharaman has stressed the importance of international cooperation in order to regulate the crypto sector. She also confirmed that Indian regulators’ crypto awareness campaign will continue to alert people about the risks of investing in crypto.
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Dapper Labs' NBA Top Shot Moments NFTs are securities, federal judge rules
NBA Top Shot Moments NFTs meet the requirements to be considered a security, a federal judge said in a court filing on Wednesday, giving the green light to a class-action lawsuit against Dapper Labs. The judgment is not a final decision in the lawsuit against Dapper Labs.
The judge denied a motion by Dapper Labs CEO Roham Gharegozlou to dismiss a lawsuit that alleges his firm violated securities laws by selling NBA Top Shot Moments NFTs without standard registration and disclosure applied to other investment contracts. “Not all NFTs offered or sold by any company will constitute a security, and each scheme must be assessed on a case-by-case basis,” Marrero wrote.Judge Victor Marrero’s decision is narrow, he noted in a court filing, and may not apply to other NFTs.
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NBA Top Shot Moments NFTs meet the requirements to be considered a security, a federal judge said in a court filing on Wednesday, giving the green light to a class-action lawsuit against Dapper Labs. The judgment is not a final decision in the lawsuit against Dapper Labs.
The judge denied a motion by Dapper Labs CEO Roham Gharegozlou to dismiss a lawsuit that alleges his firm violated securities laws by selling NBA Top Shot Moments NFTs without standard registration and disclosure applied to other investment contracts. “Not all NFTs offered or sold by any company will constitute a security, and each scheme must be assessed on a case-by-case basis,” Marrero wrote.Judge Victor Marrero’s decision is narrow, he noted in a court filing, and may not apply to other NFTs.
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Tencent to Offer Metaverse-Building Services for Asian Markets
Tencent, the Chinese software and tech company, has announced its metaverse suite of services designed to target Asian markets. The company revealed that it will revamp its media offering with its new “metaverse-in-a-box” proposal, which aims to facilitate the task of building.
Tencent, one of the biggest Chinese tech companies, has revealed its hand regarding the future of its metaverse strategy. The company announced that it will focus on offering “metaverse-in-a-box” services to its customers through its cloud division. This move, which comes as a complement to the media services offering that the company launched last year, aims to facilitate the task of developing virtual worlds for Tencent customers. The tools launched by Tencent will reportedly be used to build and design these metaverse spaces.
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Tencent, the Chinese software and tech company, has announced its metaverse suite of services designed to target Asian markets. The company revealed that it will revamp its media offering with its new “metaverse-in-a-box” proposal, which aims to facilitate the task of building.
Tencent, one of the biggest Chinese tech companies, has revealed its hand regarding the future of its metaverse strategy. The company announced that it will focus on offering “metaverse-in-a-box” services to its customers through its cloud division. This move, which comes as a complement to the media services offering that the company launched last year, aims to facilitate the task of developing virtual worlds for Tencent customers. The tools launched by Tencent will reportedly be used to build and design these metaverse spaces.
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Solana Blockchain Experiences Technical Glitch Causing Transaction Slowdowns
The Solana smart contract token network experienced a technical glitch on Saturday, February 25, 2023, known as a “large forking event,” causing transaction failures for some users. Solana’s incident report referred to it as “cluster instability” and indicated that a coordinated restart was launched to accelerate block finalization.
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The Solana smart contract token network experienced a technical glitch on Saturday, February 25, 2023, known as a “large forking event,” causing transaction failures for some users. Solana’s incident report referred to it as “cluster instability” and indicated that a coordinated restart was launched to accelerate block finalization.
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Trip Hawkins, Founder of Electronic Arts, Enters The NFT Gaming Industry
Trip Hawkins worked for Apple and founded EA. Now he’s looking for the next big thing, and NFT games are the answer. Despite the ups and downs of the crypto market, the Web3 and the NFT gaming industries continue to attract the attention of business leaders who are betting on technological.
On February 24, Trip Hawkins, one of the founders of Electronic Arts (EA), announced he was joining the Web3 gaming startup Games for a Living (GFAL) as co-founder and chief strategist. During a press conference, Hawkins stated that “Web3 is the bridge to the metaverse,” which is why he wants to build a more secure metaverse that is less prone to hacking. GFAL develops a set of tools that allow the development of Web3 games. Its main goal is to support the creation of AAA-category video games that can be easily integrated into the blockchain.
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Trip Hawkins worked for Apple and founded EA. Now he’s looking for the next big thing, and NFT games are the answer. Despite the ups and downs of the crypto market, the Web3 and the NFT gaming industries continue to attract the attention of business leaders who are betting on technological.
On February 24, Trip Hawkins, one of the founders of Electronic Arts (EA), announced he was joining the Web3 gaming startup Games for a Living (GFAL) as co-founder and chief strategist. During a press conference, Hawkins stated that “Web3 is the bridge to the metaverse,” which is why he wants to build a more secure metaverse that is less prone to hacking. GFAL develops a set of tools that allow the development of Web3 games. Its main goal is to support the creation of AAA-category video games that can be easily integrated into the blockchain.
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Germany’s DZ Bank to Offer Crypto Custody With Swiss Firm Metaco
The second-largest bank in Germany, DZ Bank, is preparing to become a provider of custody services for crypto assets. The offering will be facilitated by a partnership with Metaco, a Swiss company that specializes in helping financial institutions to operate in the digital asset space.
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The second-largest bank in Germany, DZ Bank, is preparing to become a provider of custody services for crypto assets. The offering will be facilitated by a partnership with Metaco, a Swiss company that specializes in helping financial institutions to operate in the digital asset space.
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Emojis now represent financial gains, will have legal consequences
Emojis such as the stock chart, rocket ship and money bags indicate a financial return on investment as ruled by the U.S. District Court judge.
Lisa Braganca, former U.S Securities and Exchange Commission (SEC) branch chief, took to Twitter to warn users about the possible legal consequences of utilizing emojis that might hint at future profits.
In the filing, the judge mentioned that certain tweets by the NBA Top Shot Twitter account include emojis that represent financial gains. Though none of the tweets mentioned the term ‘profit,’ emojis used like stock charts, rocket ships and money bags definitely mean a monetary ROI.
NFT platform Enjin’s chief legal officer Oscar Franklin Tan commented on the matter. Tan said that the decision of Dapper Labs shouldn’t lead to a dangerous rule that emojis make non-fungible tokens securities.
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Emojis such as the stock chart, rocket ship and money bags indicate a financial return on investment as ruled by the U.S. District Court judge.
Lisa Braganca, former U.S Securities and Exchange Commission (SEC) branch chief, took to Twitter to warn users about the possible legal consequences of utilizing emojis that might hint at future profits.
In the filing, the judge mentioned that certain tweets by the NBA Top Shot Twitter account include emojis that represent financial gains. Though none of the tweets mentioned the term ‘profit,’ emojis used like stock charts, rocket ships and money bags definitely mean a monetary ROI.
NFT platform Enjin’s chief legal officer Oscar Franklin Tan commented on the matter. Tan said that the decision of Dapper Labs shouldn’t lead to a dangerous rule that emojis make non-fungible tokens securities.
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Crypto and blockchain education becomes priority at top universities
Universities worldwide are beginning to offer cryptocurrency-related courses to cater to this new paradigm. Due to rising demand, many of the world’s top universities offer crypto-related courses.
There’s been a lot of hype regarding cryptocurrencies — mainly due to their disruptive potential — and the rise of crypto education has strongly coincided with this. According to a 2022 survey from Study.com, about two-thirds of American parents and college students conversant with cryptocurrencies thought the topic should be taught in schools as mandatory.
A recent poll conducted by Grayscale Investments, in conjunction with The Harris Poll, revealed that approximately 53% of Americans viewed cryptocurrencies as the future of finance.
Such positive perspectives regarding cryptocurrencies have given credence to introducing related courses in institutions of higher learning.
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Universities worldwide are beginning to offer cryptocurrency-related courses to cater to this new paradigm. Due to rising demand, many of the world’s top universities offer crypto-related courses.
There’s been a lot of hype regarding cryptocurrencies — mainly due to their disruptive potential — and the rise of crypto education has strongly coincided with this. According to a 2022 survey from Study.com, about two-thirds of American parents and college students conversant with cryptocurrencies thought the topic should be taught in schools as mandatory.
A recent poll conducted by Grayscale Investments, in conjunction with The Harris Poll, revealed that approximately 53% of Americans viewed cryptocurrencies as the future of finance.
Such positive perspectives regarding cryptocurrencies have given credence to introducing related courses in institutions of higher learning.
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JPMorgan to Open Blockchain Innovation Lab in Greece
Financial giant JPMorgan has announced it will open a new blockchain innovation lab in Greece. The lab will be focused on the development of applications on top of Onyx, the blockchain platform launched by the bank in 2020, and on digital identity solutions.
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Financial giant JPMorgan has announced it will open a new blockchain innovation lab in Greece. The lab will be focused on the development of applications on top of Onyx, the blockchain platform launched by the bank in 2020, and on digital identity solutions.
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NFT weekly trading volume on Ethereum rises to highest level since May
The lull in NFT activity is showing signs of subsiding with weekly trading level on Ethereum last week hitting its highest level since May, according to data from The Block. The spike was driven by an increase of activity on NFT marketplace Blur, which has overtaken trading volumes.
The launch of Blur's native token, coupled with continued token incentives, have created a "powerful cocktail" that has reinvigorated NFT trading activity, according to Thomas Bialek, an analyst at The Block Research. Last week, two NFT holders from trading firm Degenz Finance cashed out their collection of Bored Ape Yacht Club to the tune of more than 6,000 ETH ($10 million). They had been considering how they would be able to cash out without affecting the market, they explained, and saw the spike on Blur as an opportunity.
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The lull in NFT activity is showing signs of subsiding with weekly trading level on Ethereum last week hitting its highest level since May, according to data from The Block. The spike was driven by an increase of activity on NFT marketplace Blur, which has overtaken trading volumes.
The launch of Blur's native token, coupled with continued token incentives, have created a "powerful cocktail" that has reinvigorated NFT trading activity, according to Thomas Bialek, an analyst at The Block Research. Last week, two NFT holders from trading firm Degenz Finance cashed out their collection of Bored Ape Yacht Club to the tune of more than 6,000 ETH ($10 million). They had been considering how they would be able to cash out without affecting the market, they explained, and saw the spike on Blur as an opportunity.
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Eclipse to Launch Rollup Blockchain for Polygon Network with Solana Compatibility
Customizable rollup provider Eclipse announced that the startup is launching a scaling solution that is compatible with Solana and Polygon. Eclipse disclosed that the Layer 2 blockchain can run smart contracts on Solana, and decentralized applications (dapps) will be easily migratable to the Polygon Sealevel Virtual Machine (SVM).
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Customizable rollup provider Eclipse announced that the startup is launching a scaling solution that is compatible with Solana and Polygon. Eclipse disclosed that the Layer 2 blockchain can run smart contracts on Solana, and decentralized applications (dapps) will be easily migratable to the Polygon Sealevel Virtual Machine (SVM).
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Japanese Tech and Finance Giants Launch Japan Metaverse Economic Zone
Several Japanese tech and finance giants have signed a document to create the Japan Metaverse Economic Zone, a multipurpose virtual universe that will have its base in a platform called Ryugukoku. The virtual world will allow these companies to share their technology with users as it lets them roam this role-playing-game-like world as online avatars.
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Several Japanese tech and finance giants have signed a document to create the Japan Metaverse Economic Zone, a multipurpose virtual universe that will have its base in a platform called Ryugukoku. The virtual world will allow these companies to share their technology with users as it lets them roam this role-playing-game-like world as online avatars.
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Tel Aviv Stock Exchange Takes Steps to Allow Crypto Trading
Israel’s public stock exchange is suggesting regulatory amendments that would permit some clients to trade crypto assets. The proposals, which have been put forward for public consultation, come at the backdrop of a growing number of regulated institutions getting involved in the digital asset market, the exchange noted.
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Israel’s public stock exchange is suggesting regulatory amendments that would permit some clients to trade crypto assets. The proposals, which have been put forward for public consultation, come at the backdrop of a growing number of regulated institutions getting involved in the digital asset market, the exchange noted.
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Saudi economy to receive a $7.6bn boost funding via Metaverse
According to new research, Saudi Arabia‘s economy might benefit from the metaverse for $7.6 billion annually by 2030 as the country increasingly diversifies its economy to achieve the objectives specified in its Vision 2030.
Apart from this, a survey published by Strategy & Middle East, a member of the PwC network, the UAE’s 3D-rendered internet sector might bring in about $3.3 billion by the end of this decade, in addition to the Kingdom.
Furthermore, by 2030, it is anticipated that Qatar and Kuwait will benefit from developing technology to the tune of $1.6 billion and $1 billion, respectively.
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According to new research, Saudi Arabia‘s economy might benefit from the metaverse for $7.6 billion annually by 2030 as the country increasingly diversifies its economy to achieve the objectives specified in its Vision 2030.
Apart from this, a survey published by Strategy & Middle East, a member of the PwC network, the UAE’s 3D-rendered internet sector might bring in about $3.3 billion by the end of this decade, in addition to the Kingdom.
Furthermore, by 2030, it is anticipated that Qatar and Kuwait will benefit from developing technology to the tune of $1.6 billion and $1 billion, respectively.
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Survey shows 74% participants buy NFTs for status
According to MetaJuice, three among the four NFT collectors on the platform buy non-fungible tokens for rarity, status, and aesthetics.
Though NFT sales are not as high as they were in 2021, users are still purchasing NFTs for one reason or another.
MetaJuice has mentioned in an announcement that around 6,000 NFT users were surveyed by their team to identify the motivations behind buying them. As per the results of the survey, standing out and using NFTs in the form of their avatar were the major reasons.
Moreover, 74% of the respondents mentioned that the reason behind their interest in non-fungible tokens is the status offered by them. However, 13% of the participants shared the reason behind purchasing the NFTs is to resell them later in the future.
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According to MetaJuice, three among the four NFT collectors on the platform buy non-fungible tokens for rarity, status, and aesthetics.
Though NFT sales are not as high as they were in 2021, users are still purchasing NFTs for one reason or another.
MetaJuice has mentioned in an announcement that around 6,000 NFT users were surveyed by their team to identify the motivations behind buying them. As per the results of the survey, standing out and using NFTs in the form of their avatar were the major reasons.
Moreover, 74% of the respondents mentioned that the reason behind their interest in non-fungible tokens is the status offered by them. However, 13% of the participants shared the reason behind purchasing the NFTs is to resell them later in the future.
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Solana Selected As A Place To Sell Real Estate-backed NFT
A property-backed NFT on Solana was offered by real estate company Homebase, letting users purchase tokenized homes. Via the scheme, users can invest in single-family rental homes. A limited liability corporation with Homebase NFTs as its owners holds title to each residence. A company announcement states that after the investment, they would start getting monthly rent in USDC.
According to the company, the goal is to improve access to wealth-building through on-chain real estate. In McAllen, Texas, Homebase is introducing its first product: fractional house ownership. An IRR of 10.13% is projected for the three-bedroom house. There is presently a token sale. The security is accessible to authorized investors because it is offered under Regulation D. You’ll pay $100 to own a part of the first home on the platform, a three-bedroom home in McAllen, Texas. A total of 2,468 tokens worth $246,800 are available.
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A property-backed NFT on Solana was offered by real estate company Homebase, letting users purchase tokenized homes. Via the scheme, users can invest in single-family rental homes. A limited liability corporation with Homebase NFTs as its owners holds title to each residence. A company announcement states that after the investment, they would start getting monthly rent in USDC.
According to the company, the goal is to improve access to wealth-building through on-chain real estate. In McAllen, Texas, Homebase is introducing its first product: fractional house ownership. An IRR of 10.13% is projected for the three-bedroom house. There is presently a token sale. The security is accessible to authorized investors because it is offered under Regulation D. You’ll pay $100 to own a part of the first home on the platform, a three-bedroom home in McAllen, Texas. A total of 2,468 tokens worth $246,800 are available.
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France on the verge of passing stringent crypto firm licensing laws
The French National Assembly has voted in favor of legislating stricter licensing rules for new cryptocurrency firms in order to harmonize local laws with proposed European Union (EU) standards.
The vote was passed with 109 votes (60.5%) in favor to 71 (39.5%) against. The French Senate has already passed the bill, which now goes to President Emmanuel Macron, who has 15 days to either approve it or send it back to the legislature.
If passed, the new law would oblige France-based cryptocurrency service providers to comply with stricter anti-money laundering rules, show that customer funds are segregated, adhere to new guidelines on reporting to regulators and provide more detailed risk and conflict of interest disclosures as a means to strengthen consumer protection.
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The French National Assembly has voted in favor of legislating stricter licensing rules for new cryptocurrency firms in order to harmonize local laws with proposed European Union (EU) standards.
The vote was passed with 109 votes (60.5%) in favor to 71 (39.5%) against. The French Senate has already passed the bill, which now goes to President Emmanuel Macron, who has 15 days to either approve it or send it back to the legislature.
If passed, the new law would oblige France-based cryptocurrency service providers to comply with stricter anti-money laundering rules, show that customer funds are segregated, adhere to new guidelines on reporting to regulators and provide more detailed risk and conflict of interest disclosures as a means to strengthen consumer protection.
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Binance’s AI-backed NFT generator Bicasso mints 10,000 NFTs in 2.5 hours
On March 1, Binance released Bicasso, its AI-backed NFT generator, to produce digital art to the fullest of its potential. Within only 2.5 hours of its launch, the NFT generator reached a cap of 10,000 NFT mints.
Changpeng Zhao, CEO of Binance, told users via a tweet that they could convert their creative ideas into non-fungible tokens with the help of AI.
The system is a tool based on artificial intelligence and is similar to DALL-E, an AI-art platform. Users upload an image, like a profile picture, to allow the AI to work on it. They can type in creative prompts too for the generation of a customized image developed with AI.
9,909 owners created a minimum of one NFT, according to the initial mint data. Since the images belonged to the pilot, they can’t be resold. Users were quite excited to share their creations on crypto Twitter.
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On March 1, Binance released Bicasso, its AI-backed NFT generator, to produce digital art to the fullest of its potential. Within only 2.5 hours of its launch, the NFT generator reached a cap of 10,000 NFT mints.
Changpeng Zhao, CEO of Binance, told users via a tweet that they could convert their creative ideas into non-fungible tokens with the help of AI.
The system is a tool based on artificial intelligence and is similar to DALL-E, an AI-art platform. Users upload an image, like a profile picture, to allow the AI to work on it. They can type in creative prompts too for the generation of a customized image developed with AI.
9,909 owners created a minimum of one NFT, according to the initial mint data. Since the images belonged to the pilot, they can’t be resold. Users were quite excited to share their creations on crypto Twitter.
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Streaming service Spotify has announced it is testing a new option that will allow NFT owners to connect to exclusive content.
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Gritti Launches Metaverse Marathon, the First-Ever Phygital NFT Medal
Gritti, the revolutionary social fitness company, has launched its Global Running Infinity Tour (GRIT), a series of online and offline running events around the world. Headlining the tour is the world’s first ‘Metathon’, which will allow runners from all walks of life to enjoy metaverse-based running events curated by Gritti.
With an estimated market value of over US$500 billion, the marathon and sports industry is a major building block of the global economy. Gritti’s Metathon is set to democratize participation in marathons, which have historically had a very high barrier to entry. Notably, the ticket cost of entering into one of the “Six Major” Marathons can be well over US$3,000 per runner, and the need for qualifying times leaves many amateur runners unable to participate. Gritti will significantly lower entry barrier for all runners and create many inclusive.
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Gritti, the revolutionary social fitness company, has launched its Global Running Infinity Tour (GRIT), a series of online and offline running events around the world. Headlining the tour is the world’s first ‘Metathon’, which will allow runners from all walks of life to enjoy metaverse-based running events curated by Gritti.
With an estimated market value of over US$500 billion, the marathon and sports industry is a major building block of the global economy. Gritti’s Metathon is set to democratize participation in marathons, which have historically had a very high barrier to entry. Notably, the ticket cost of entering into one of the “Six Major” Marathons can be well over US$3,000 per runner, and the need for qualifying times leaves many amateur runners unable to participate. Gritti will significantly lower entry barrier for all runners and create many inclusive.
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