⚡️ CZ Says Binance Considers Buying Traditional Banks
Thus, CZ wants its crypto exchange to become a bridge between traditional finance and cryptocurrencies.
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#LastNews
🔹️The US Federal Reserve raised the rate by 0.75% to 4%
🔹️MetaMask has integrated a NFT price tracking service
🔹️Hackers hacked Deribit's hot wallet and stole $28 million
🔹️Warner Brothers will release NFT-collection based on the TV series "Game of Thrones"
🔹️UnionBank launched cryptocurrency trading and storage services for retail clients
🔹️Changpeng Zhao: Binance will try to continue serving Russian users
🔹️In Vietnam, miners are now selling their video cards by weight right on the streets of the city
🔹️Binance CEO says he's ready to join the Twitter board of directors if Elon Musk asks him to
🔹️The central banks of France, Switzerland and Singapore will test DeFi protocols in the currency markets
🔹️A user who accumulated coins in 2013-2014 (over 8 years ago) moved 2.37 million DOGE worth over $338,000
🔹️Circle and Paxos Dollar, issuers of USDC and USDP stablecoins, have been licensed by the Monetary Authority of Singapore MAS to provide payment services in the country
🔹The Swiss financial regulator has included cryptocurrency in its anti-money laundering rules - from 2023 you will need to verify your identity when transferring more than $1000
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🇨🇺Cyptocurrency regulation in Cuba
🔹Hide cigars in humidors and open crypto wallets: in Cuba, since 2021, the Central Bank has given the go-ahead for cryptocurrency transactions between users.
🔹And, by the way, the cryptocurrency progress did not stand still: in the spring of this year, the country's financial regulators legalized the work of virtual service providers.
Who and what regulates digital money
The Central Bank of Cuba is the main supervisory authority that determines the legal status of all financial instruments in the state, regulates and controls operations.
▫️The crypt is not recognized as a means of payment, however, its circulation in the country is legalized by the 215th Resolution on Digital Assets.
Taxation
🔺There is no special tax regime for cryptocurrencies in Cuba. However, it is quite likely that personal income tax will be collected at a progressive rate - from 15% to 50%.
🔺For legal entities, such a tax can range from 15% to 35% (if the company is completely foreign).
Activity Licensing
To register a crypto firm in Cuba, you must obtain a license from the Central Bank of Cuba. Spoiler: you will have to store user data, transactions and conduct KYC, everything is in order.
In the next publications of this column, we will tell you more about the regulation of cryptocurrencies in other countries of Asia and North America. And we collect all posts on the topic here. There we have already surveyed Europe, Australia and Oceania.
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Powell:
- a further rate increase is appropriate
- further, the cumulative effect of past rate increases will be taken into account
- will need to slow down rate hikes at some point
Powell: final rate will be higher than previously thought
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🔥Binance launches the Binance Bluebird Index, a price index that includes the average spot value of BNB, DOGE and MASK tokens
Already today, perpetual contracts with leverage up to x26 start 🚀
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⚡️ In October, the loss of the Web3 industry as a result of 44 exploits amounted to about $760.2 million. The cumulative damage for the year approached $3 billion, almost doubling last year's figure.
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#NFTnews
🔹️Apple updates NFT trading rules
Apple Inc. this week updated guidance for users on how to interact with NFTs in the App Store. The update is framed in a typically pompous consumer-advocacy tone. But let's take a look at the pros and cons of NFT trading at Apple.
Plus: non-fungible tokens in the iOS App Store can be afforded by all users. Matthias Tengblad, CEO of Corite, a web-based platform that allows fans to invest in artists, said it was a positive move as Apple has in no way banned NFT-related apps, including those where tokens are bought and sold. That is, everything is simple and easy.
Cons: high commissions. Apple has been sued in the past for charging such transaction fees, but the company doesn't want to change that yet. “NFT is essentially a web3 technology, and applying web2 policies like the Apple App Store is like putting a round peg in a square hole,” De Kok, chief executive of Astaria, told BeInCrypto.
🔹️Top 5 best NFT trading platforms have earned more than $40 billion
During October, the top five NFT marketplaces crossed the $40 billion mark in all-time sales: approximately $41.36 billion on October 29, 2022. Opensea was the largest NFT marketplace, with $32.76 billion in sales recorded on Saturday. dollars.
Opensea is followed by Axie Marketplace ($4.26B), Magic Eden ($1.83B), Looksrare ($1.62B) and X2Y2 ($891M).
Despite a significant decline in monthly sales, over $40 billion in lifetime sales across the top five markets is quite a feat.
🔹️SeatlabNFT revolutionizes digital ticketing
Selling tickets using NFTs is becoming more and more popular and could significantly change the industry. Binance said in a statement a few months ago that NFT tickets will end scalping and ticket forgery, which will help eliminate conflicts, for example, at sporting events. For NFT tickets, the exchange has partnered with SS Lazio.
"Our Star" will show itself on November 2, 2022: SeatlabNFT will sell the only available VIP seats at the 8,000-person Elrow XXL event in February 2023 in Dubai. This will be the first time NFT has been used to host such a massive VIP event.
The SeatlabNFT app has been officially launched on the App Store and Google Play, making it available to millions of music lovers around the world.
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🇭🇹Regulation of Cryptocurrency in Haiti
Have you been to Haiti? It is possible that you should not rush. In terms of the level of cryptocurrency security, Haiti practically closes the list of 270 countries (212th place) and received 1.4 out of 10 points in terms of adoption at the state level.
🔹 However, it's not all bad. Haiti is home to many cryptocurrency projects, such as AgriLedger and the Blockchain Cotton Project, and the Central Bank of the country even announced in 2019 that it was going to issue a state-owned crypt - CBDC.
Who and what regulates digital money
The Bank of Haiti is the main supervisory authority that determines the legal status of all financial instruments in the state, regulates and oversees operations.
▫️Crypto is not recognized as a means of payment and is not integrated into the legal field of the country.
Taxation
🔺There are no tax requirements for crypto in Haiti. Nevertheless, if we assume that they will try to recover money from you in favor of the state, it will be 15% for individuals and 30% for legal entities.
Activity Licensing
No permits are required to register a crypto firm in Haiti. Most likely, you can’t even register a crypto firm there - everything is at your own peril and risk.
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▫️ Vitalik Buterin shared his vision of how the digital asset market should be regulated and stated that the crypto ecosystem is not yet mature enough for a significant injection of institutional money
Ethereum co-founder Vitalik Buterin believes that the crypto ecosystem should evolve and comply with regulatory policies that allow crypto projects to operate freely, and not chase after institutional funds.
Buterin believes that regulation should ensure the internal independence of crypto projects, even if this hinders the mass adoption of digital assets.
“Actually, I'm a little relieved that many exchange-traded funds (ETFs) are being delayed. The ecosystem needs time to mature before we get even more attention,” he added.
He also opined that the use of KYC in decentralized finance (DeFi) interfaces has a detrimental effect on users, but does not ensure their security.
However, he highlighted the need for KYC on crypto exchanges, which have become widespread.
“KYC on DeFi interfaces will annoy users, but will do nothing against hackers. Hackers are already writing their own code to interact with contracts,” Buterin said.
Buterin added that regulators can help develop the market by imposing restrictions on the use of leverage and conducting code audits. The creator of Ethereum also emphasized that the requirements for clients should not be based on their capital, but on knowledge about cryptocurrencies.
He also noted that the regulation should be written in such a way that its requirements can be satisfied with the help of zero-knowledge proofs (ZKP).
“In addition, I would like the rules to be written in such a way that the requirements can be met as much as possible by the ZKP. ZKP offers many new opportunities to achieve registration policy goals while maintaining privacy, and we should take advantage of this!” he concluded.
Buterin's opinion was also supported by the founder of the FTX exchange, Sam Bankman-Fried.
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#LastNews
🔹️BNB Chain overtakes Ethereum in number of unique addresses
🔹️Bank of America posted a position for a Digital Assets Regulatory Expert
🔹️DOGE grew by 150% in a week and overtook Cardano in market capitalization
🔹️Cosmos developers will vote on Cosmos Hub update on October 31st
🔹️Vitalik Buterin shared his vision of how the digital asset market should be regulated and stated that the crypto ecosystem is not yet mature enough for a significant injection of institutional money
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⚡️ According to Reuters, Binance is building a team to help Twitter. She will explore how blockchain and crypto can solve Twitter's problems, including the influx of bots.
UPD Reuters lied. At least CZ denied the news on his Twitter. However, do not write off the opportunities of Binance, taking into account the investment polarity
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🇱🇦Regulation of Cryptocurrency in Laos
✅ Mining and trading of digital assets is allowed in the country in "test mode" from September 2021, but only to selected local companies. At the same time, a special working group was organized from representatives of the Central Bank of Laos, various ministries and the state energy company to "determine the responsibilities, rights and obligations of various departments and companies when working with cryptocurrencies."
🌊 Mining permission is associated with an excess of electricity produced in Laos by hydroelectric power plants. Cryptocurrency mining will allow “absorbing” energy surpluses, as well as attracting wealthy miners from China to the country, officials say.
Previously, the Central Bank of Laos (BOL) warned citizens against using, buying and selling digital currencies, and also stated that:
🔺operations with crypto-currencies in the republic are illegal;
🔺financial institutions are prohibited from dealing with digital assets, in particular investing in them;
The regulator is unable to ensure the safety and protection of the rights of crypto market participants in case of fraud.
Taxation
◾️The state corporation Électricité du Laos, which manages the import and export of electricity from the national electric grid, is exempt from paying taxes for the supply of electricity to mining companies.
◾️Corporate income tax on crypto exchanges is levied at a rate of 15%.
Activity Licensing
Crypto service providers are required to obtain a perpetual license from the Central Bank of Laos. The state fee for issuing a permit is $1 million, while companies are required to make a deposit in BOL in the amount of $5 million to confirm their solvency.
🧐Cryptocurrencies have not yet found wide application in the republic, even only 20% of the country's inhabitants have access to the Internet. The legal regimes for crypto and NFTs in Laos’ immediate neighbors Thailand, Vietnam, and Cambodia differ significantly.
In the next publications of this column, we will tell you more about the regulation of cryptocurrencies in other countries of Asia and North America. And we collect all posts on the topic here. There we have already surveyed Europe, Australia and Oceania.
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📶 The first McDonald's to accept bitcoin appeared in El Salvador. And now in Switzerland. I wonder what country the next one will be in?
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🔹️GameStop has integrated trading of game assets from Immutable
The American video game retailer GameStop has added support for Immutable's Ethereum layer 2 protocol on its NFT marketplace. Platform users can now access the digital collectibles of the startup’s blockchain games (Gods Unchained, Guild of Guardians) on the Immutable X network.
The beta version of the GameStop NFT marketplace was introduced in March. The basis for the trading platform was the Loopring L2 solution. Initially, the American company announced a partnership with Immutable.
🔹️Basketball player Stephen Curry filed for trademark registration in web3
World famous basketball player, NBA star Stephen Curry has filed an application for registration of the CURRYVERSE trademark. The request was submitted to the US Patent and Trademark Office in early October. According to experts, the trademark application covers many services related to the web3 industry.
Stephen Curry is expected to promote a variety of merchandise on the Metaverse: virtual shoes, clothing, duffel bags, watches, belts, hats, and more. The application includes uploaded and authenticated goods using non-fungible NFT tokens. Curry's team will also offer digital platforms for consumers to create, promote and share NFTs. And the basketball player himself plans to personally appear in the Metaverse as a professional athlete.
🔹️OpenSea trading volumes hit their lowest level since early summer
Trading volumes on the NFT marketplace OpenSea fell 13% in October to $303 million, the lowest since June 2022 and 94% of the all-time high of $4.86 billion reached in January 2022. Since the beginning of the year, trading volumes in ETH have fallen by about 86%, according to Dune Analytics.
Statistics from DappRadar also show a sharp drop in NFT transactions in the secondary market: from $406+ million in May 2022 to $7.63 million at the moment. The drawdown size is 98%.
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⚡️ Elon Musk bought Twitter and attracted the attention of the US Department of the Treasury, who wants to check the deal and whether Musk has connections with the authorities of other states, as well as foreign investors, because. it concerns US national security interests
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#LastNews
🔹️STEPN launched a new marketplace MOOAR
🔹️Binance Opens Seventh Branch in Ireland
🔹️MakerDAO co-founder found dead after conflict with CIA
🔹️Withdrawn 1,400,000 BNB worth $456M in one transaction today from Binance
🔹️Stablecoin Celo Euro CEUR on the Gate exchange was trading at $2000 at the moment
🔹️NEAR will open a regional center in South Korea with a focus on Web3 games
🔹️Visa and CryptoCom released NFT collection in honor of the World Cup
🔹️According to the results of October, Bitcoin has risen in price by 5.56%, and Ethereum has grown by more than 18%
🔹️MoneyGram has integrated cryptocurrency trading and storage services into its application
🔹️South Africa's largest retailer Pick n Pay has started accepting bitcoin as a payment method
🔹️In October, the amount of transactions with cryptocurrencies on exchanges amounted to $543 billion (against $733 billion in September) - this is the lowest level since December 2020
🔹️Binance CEO Changpeng Zhao said that cryptocurrencies should be integrated into Twitter - however, he believes that the platform should support more than one specific digital currency, be it DOGE and BNB, but also many other cryptocurrencies
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🚀 Important events for the markets
On November 2, the Fed will meet, at which they plan to raise the Fed rate again.
We will know the interest rate decisions at 21:00 Moscow time, and at 21:30 there will be a press conference by Jerome Powell, where he will answer questions and perhaps hear something interesting about the Fed's future plans to fight inflation.
Previous – 3.25%
Forecast – 4.00% (+0.75%)
Now let's talk about predictions:
🔹️Goldman Sachs - We add another 25bp raise. to our own forecast, which now calls for a 75bp Fed rate hike. in November, 50 b.p. in December, 25 b.p. in February and 25 b.p. in March, and now we see a ceiling of rates at the level of 4.75-5%
Inflation is likely to remain uncomfortably high for some time, which could make further Fed rate hikes in small steps the path of least resistance.
🔹️The Fed may need to do more if the coming reversal triggers early monetary easing.
🔹️Bank of America BofA and Morgan Stanley - Predict that the Fed will stop raising rates in 1H 2023, then we can expect the beginning of the formation of a bottom in US stocks.
🔹️Nomura and Morgan Predict Bottom in Asian Stocks in 1H 2023
Many experts traditionally expect BTC bull market to resurface in 2024 after halving
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#LastNews
🔹️HUSD lost parity with the dollar and fell to $0.28 after delisting from Huobi
🔹️Reserve Bank of India will start testing its own wholesale digital currency on November1
🔹️Thailand and Hungary partner to support blockchain adoption in the financial sector
🔹️Mining company Argo Blockchain announced that it may cease its activities due to lack of funding
🔹️Apollo Global Management, a $512.8 billion asset manager, has begun offering cryptocurrency storage services to customers
🔹️After switching Ethereum to Proof-of-Stake PoS on September 15, 2022, the power consumption of the network of the second cryptocurrency fell by more than 99.9%
🔹️Tether continues to increase its issuance - 1 billion USDT was printed today - Previously, USDC lost 20% of capitalization over the past 2 months - during the same time BUSD and USDT strengthened their positions
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😁 New Twitter logo
The founder of Cardano, Charles Hoskinson, rightly suggested that now Dogecoin can be integrated with the social platform Twitter and proposed to transfer the meme-cryptocurrency to the ecosystem of his project
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⚡️ CZ Changpeng Zhao, said he is ready to help Elon Musk transform Twitter into Web3, and is also preparing to implement crypto as a means of payment on the platform
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🥳 Little bitcoin date!
Exactly 14 years ago, Satoshi Nakamoto published the whitepaper of his electronic P2P system called bitcoin.
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#NFTnews
🔹️Aptos NFT marketplace is growing
With more and more NFT marketplace appearing in the world, Aptos now wants to join the fight against OpenSea and Magic Eden. Aptos' NFT marketplace called Topaz is expanding. It has already reached an NFT trading volume of $5.46 million. The leading project on the platform is Aptos Monkeys. The volume of trading in these tokens exceeded $2.3 million over the past 24 hours.
Aptos Monkeys tops the chart in terms of trading volume, outperforming all other NFT collections on Solana and Ethereum, including CryptoPunks. Solana's recent decision not to pay out royalties has forced the authors to look for alternatives. Projects such as Zodiac World and Mogu Dragonz have said they are switching to Aptos to capitalize on this hype.
🔹️Startup MyNFT to install NFT vending machine in London
Bitcoin ATMs may well be called a miracle of the technological world, but they will probably not stay in this status for long, since vending machines for selling non-fungible tokens can take their place.
Tech startup MyNFT will install the first NFT vending machine in the European Union next week. It will be exhibited in London, and the device will also be presented at the NFT.London conference, which will be held at the Queen Elizabeth II Center.
An NFT vending machine that will help lower entry barriers for potential Web3.0 users who are interested in purchasing NFTs. Unlike NFTs, which can be purchased at auctions for millions of dollars in cryptocurrencies, the collection of MyNFTs available at these vending machines will cost between £10 and £100.
🔹️LooksRare has become another royalty-free NFT marketplace
Royalties are fees that are meant to be paid out for each NFT trade and are usually sent to the collection creator from the point of sale. Major NFT marketplace LooksRare has joined the growing list of NFT marketplaces that have decided to waive royalties by joining SudoSwap, X2Y2 and, most recently, Magic Eden.
LooksRare has said it will instead distribute a quarter of its protocol fees to creators in an attempt to find a middle ground in the ongoing royalty debate. According to the statement, the marketplace currently distributes 25% of its 2% commission to contributors. This results in an effective licensing fee of 0.5% of transactions for all collections, which is much lower than most other platforms that offer royalties to contributors.
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🇲🇽 "I'm starting the Bitcoin adoption process in Mexico" - Mexican Senator Indira Kempis
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#NFTnews
🔹️Twitter will allow users to buy and sell NFTs via tweets
The social media platform has announced that it will allow users to buy, sell and display NFTs directly via tweets in partnership with four marketplaces. The integration, called MFT Tweet Tiles, displays the NFET cover in a dedicated panel within the tweet and includes a button that allows users to navigate to the marketplace listing.
The integration, which is still in testing, is currently working with marketplaces from four specific partners: Solana-focused marketplace Magic Eden, multi-platform NFT marketplace Rarible, blockchain creator Flow Dapper Labs, and sports-focused platform Jump.trade.
🔹️In the UK, the third case of filing a lawsuit in the form of NFT was recorded
An unknown person received a claim in the form of NFT, which says that the assets he stole from the user and located on Huobi are frozen. British lawyer Stephen Murray noted that this is already the third case in judicial practice, when “a statement of claim in the form of NFT is sent to the crypto wallet operator and redirected to the defendant’s wallet”: “Thus, with full compliance with all formalities, within a couple of weeks, the user was returned 100% of the stolen he has 1.85 million pounds worth of bitcoin ($2.1 million).”
Murray explained that, according to the law, the plaintiff, from whom the cryptocurrency was stolen, must send the defendant, that is, the hacker, a statement that he is filing a lawsuit to freeze the stolen cryptocurrency. Thus giving the defendant the opportunity to defend their rights in court. Traditionally, the claim is sent by e-mail. In the case of a hacker, only the address of his crypto wallet is known. Therefore, the plaintiff sends an application to the wallet, in the form of NFT. The non-fungible token differs from traditional media formats and is a link to a regular web page where the claim is located.
🔹️Polkastarter announces the first ever Hackathon NFT
Polkastarter is one of the most well-known web3 fundraising platforms in the industry. His focus is on helping web3 projects launch decentralized and fixed exchange token pools and invest in blockchain initiatives like NTF. It is this commitment to web3 and blockchain that led Polkastarter to launch its hackathon.
The goal of the project is to help people connect to and use NFTs without deep knowledge of the technology. Hackathon NFT will be held in Lisbon from 11 to 13 November, those who wish can join online.
#LastNews
🔹️Google Cloud launched a service for easy deployment of blockchain nodes
🔹️Huobi to stop supporting HUSD stablecoin and convert user assets to USDT
🔹️Decentralized finance protocol UvToken was hacked, losing nearly $1.5 million in cryptocurrency
🔹️The National Bank of Kazakhstan integrates its state digital currency CBDC into the BNB Chain blockchain
🔹️The Bitcoin network yesterday transferred 81842 BTC worth more than $1.7 billion - while the transaction fee was 0.00003392 BTC (~$0.70)
🔹️Visa may launch its own crypto wallet - trademark applications related to cryptocurrencies, NFTs and metaverses indicate this
🔹️Binance launched a trading platform in Bahrain. The new exchange will be fully regulated by the Central Bank of Bahrain and will offer the full range of Binance services
🔹️The world's largest Bitcoin miner Core Scientific announced that it is on the verge of bankruptcy and will not make payments to customers that are due in the next few days
🔹️Visa launches a debit card with 1% cashback in crypto - at the moment the card can only be ordered in the US, but from 2023 it will become available for residents of other countries
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