NEM(XEM)

The eurozone supervisor is seeking to smooth out a process dominated by German and Luxembourgish banks.

NakaDollar would be created without the services of the traditional banking system, which would exempt it from fiat regulations.

Jimmy Fallon wants out of the BAYC trademark case while Blur is responsible for the NFT market’s 3-month high.

San Francisco, California, 8th March, 2023, ChainwireUnstoppable Women of Web3 Leads Initiative to Provide Web3 and Metaverse Education for 6 Million African Women The initiative will consist of free digital identities, educational streams, online courses, in-person networking, and more to bring more women in Africa into Web3 and the metaverse Metaverse — 8 March 2023 — To celebrate International Women's Day, Unstoppable Women of Web3 (Unstoppable WoW3), a diversity and education group on a mission to equalize the playing field in Web3, today announced a commitment to providing Web3 and metaverse education for six million women in Africa over the next five years. The initiative is launching in partnership with 19+ companies including the African Leadership Group, Africa Women CEOs Network, Chipper Cash, NFT Domains, Polygon Labs, Sankore 2.0, Unstoppable Domains, Uoma Beauty, and the Virtual Brand Group, along with 17 other companies. As a first step towards their goal of onboarding six million women in Africa to Web3 and the metaverse, Unstoppable Women of Web3 and Unstoppable Domains will expand access to user-owned digital identity through free Unstoppable domains, which people can claim for the next 30 days. Web3 domains, like dranino.nft, give people ownership of their identity data – allowing them to create a portable, user-owned reputation across Web3 and the metaverse. “Africa has one of the most rapidly growing Web3 sectors today, but it’s not exempt from the gender equality issues we see across the globe, and we need to make sure everyone has a seat at the table,” said Sandy Carter, Founder of Unstoppable Women of Web3 and COO and Head of Business Development at Unstoppable Domains. “Empowerment starts with education, which is why we’re thrilled to lead this initiative to educate six million more African women on the metaverse and Web3.” In order to meet this commitment, the partner organizations will offer Web3 and metaverse education via a wide assortment of educational streams, programs, learning materials, in-person events, and online courses: The African Leadership Group will offer master classes and content on Web3 and the metaverse to their ongoing training and lifelong learning programs across Africa. Africa Women CEOs Network will present a CEO Education in Masterclass Program designed specifically for women in Africa. Educational programs will be available online on the Unstoppable Women of Web3 official website, and will be translated into Portuguese, French, and Arabic. Chipper Cash will surface Unstoppable Women of Web’s Web3 and metaverse education within its app. Sankore 2.0, an Africa-focused blockchain community builder, will develop and organize online and physical courses on metaverse knowledge and blockchain code development to empower African women in Web3 technology. Unstoppable Women of Web3 and Unstoppable Domains will provide free Web3 domain addresses to expand access to user-owned digital identity. They’ll also launch a set of blogs on digital identity on the Unstoppable Women of Web3 website, available in French and English, and issue special NFT-based Education Badges for women who complete the education programs. Unstoppable Domains and Unstoppable Women of Web3 will launch a blockchain education stream in partnership with Alchemy. Today, Africa is one of the fastest-growing adopters of blockchain, cryptocurrencies, and Web3 technology globally. The continent already features the world’s second-largest Bitcoin market and a government-backed central bank digital currency. Africa also witnessed a 1,200% increase in crypto payments from 2020 to 2021, showing a massive and rapidly growing demand for the nascent technology. “Having started my entrepreneurial career in Nigeria at 17, I know the power and opportunity of Africa. I see technology and innovation as the way to unlock this next generation of women,” said Sharon Chuter, CEO & Founder of Uoma Beauty. However, like many male-dominated tech and engineering sectors, Web3 suffers from uneven representation. In 2021, for example, out of the 121 leading crypto companies, it was discovered that less than 5% were founded by women, and women only represent 10% of partners at crypto funds. Fred Swaniker, founder and CEO of African Leadership Group, said: “By 2035, Africa will have the largest and youngest workforce in the world and will be the primary driver of the 4th industrial revolution. Considering the burgeoning nature of the Web3 industry and the fact that women currently make up 50% of the African continent, it is incredibly important to educate and empower our women with the tools they need to succeed in this field. This partnership will champion not only diversity in Web3 but also enable Africa to continue establishing itself as a global Web3 hub.” Jennifer Kattula, SVP of Marketing at Polygon Labs said: “We believe in diversity and its impact on the web3 industry. We support women on this International Women’s Day and 365 days of the year. We are proud to support Unstoppable Women of Web3 and the Metaverse as they expand into Africa and beyond.” Dr. Anino Emuwa, Managing Director of Avandis Consulting and Founder of Africa Women CEOs Network, said: “This initiative will give women in Africa a chance to participate in one of the fastest growing industries in the modern world. The tech and Web3 industries have historically faced issues with diversity and a lack of representation, but with this new initiative, women in Africa can learn about a burgeoning industry and be part of building its future.” Justin W. Hochberg, CEO and Co-Founder of the Virtual Brand Group, said: “If you can defy gravity in the metaverse, why can’t we defy convention as to who has a voice and the technical skills? This is a once in a generation opportunity to empower diverse talent which will benefit everyone as we collectively build this brave new interconnected world from games to fashion, loyalty to art, sports, music, entertainment and beyond. I challenge everyone to be the change you wish to see in the metaverse and web3 starting here and now with the women of Africa where humankind originated and which over the next decades will be a leading global technology hub.” Laura Kennedy, VP of Corporate Development at Chipper Cash, said: “We are delighted to pledge our support to the Unstoppable Women of Web3 initiative. Chipper Cash is a company deeply committed to unlocking global opportunities to connect and uplift Africa. When Chipper launched a crypto product more than two years ago, it was in response to a need expressed by our customers. With this initiative, Chipper and Unstoppable Women share a vision that inclusive access and education are critical to building an equitable online ecosystem where everyone can thrive.” Other partners supporting this initiative are: African Women in Fintech & Payments (AWFP), Afrilabs, Bookings Africa, Ejara, Eloy Awards Foundation, Emerging Africa Group, Futuresoft, Google Cloud, Kenya Blockchain Ladies DAO, Mission Impact Academy, Miss O Cool Girls, NairaEx, SpaceYaTech, The Product House, Thousand Faces NFT, UTU, Women in Management Africa (WIMA), and Women in Tech. This is not the first time Unstoppable Women of Web3 has launched an educational initiative to onboard women from underrepresented communities to Web3. Last October, the organization also announced its mission to educate and onboard over five million Latinas into Web3 by 2030. About Unstoppable Women of Web3 Launched in 2022, Unstoppable Women of Web3 is a diversity and education group focusing on training the next generation of talent, with a mission to equalize the playing field early in the Web3 era. All 206 collaborators have pledged to feature work created by historically marginalized groups in at least half of all materials used for Web3 education. About Unstoppable Domains Launched in 2018, Unstoppable Domains is a Web3 domain name provider and digital identity platform working to onboard the world onto Web3. Unstoppable Domains offers Web3 domains minted on the blockchain that give people full ownership and control of their digital identity, with no renewal fees. With Unstoppable Domains, people can replace lengthy alphanumeric crypto wallet addresses with a human-readable name and log into and transact with more than 720 apps, wallets, exchanges and marketplaces. The company was named by Forbes as one of America's Best Startup Employers in 2022. About African Leadership Group The African Leadership Group (ALG) is an ecosystem of independent entities with a shared vision for transforming Africa by developing three million ethical and entrepreneurial leaders by 2035. Anchored in its unique and effective learning model, ALG has been at the forefront of developing diverse talent for the past two decades, equipping and harnessing the potential of African youth to meaningfully engage with — and contribute to — the global digital economy as leaders and innovators. As a leading technology training provider, its mission is to solidify Africa’s place as the final frontier for technology, while providing a lasting solution to the global technology talent shortage. ALG was named by Fast Company as one of the 50 most innovative companies in the world in 2019. About Africa Women CEOs Network Africa Women CEOs Network, is a community of women leading businesses. Our peer network helps women combat the lonely-at-the -top syndrome supporting their professional growth through the provision of bespoke leadership development and access to business opportunities. As UN Women Generation Equality Action Coalition commitment makers, we collectively contribute to accelerating progress towards gender balanced leadership across the continent through our advocacy and DEI initiatives. About Chipper Cash Chipper Cash is a financial technology company serving more than five million customers across the African continent. In 2018, Chipper Cash revolutionized moving money in Africa with the introduction of fee-free transfers for personal payments—providing a frictionless way to send and receive money cross-border and enabling financial inclusivity across the continent. Since then, Chipper has increased its product suite by offering personal investments and digital business transactions, and expanded its reach into the US. Led by co-founders Ham Serunjogi and Maijid Moujaled, Chipper Cash is focused on its mission to provide the most trusted and accessible financial services for people living in Africa and beyond. For additional information, please visit www.chippercash.com. About Polygon Labs Polygon Labs develops Ethereum scaling solutions for Polygon protocols. Polygon Labs engages with other ecosystem developers to help make available scalable, affordable, secure and sustainable blockchain infrastructure for Web3. Polygon Labs has initially developed a growing suite of protocols for developers to gain easy access to major scaling solutions, including layer 2s (zero-knowledge rollups and optimistic rollups), sidechains, hybrid chains, app-specific chains, enterprise chains, and data availability protocols. Scaling solutions that Polygon Labs initially developed have seen widespread adoption with tens of thousands of decentralized apps, unique addresses exceeding 220.8 million, over 1.18 million smart contracts created and 2.48 billion total transactions processed since inception. The existing Polygon network is home for some of the biggest Web3 projects, such as Aave, Uniswap, and OpenSea, and well-known enterprises, including Robinhood, Stripe and Adobe. Polygon Labs is carbon neutral with the goal of leading Web3 in becoming carbon negative. About Virtual Brand Group The Virtual Brand Group (VBG) is an award-winning metaverse pioneer transforming businesses by strategizing, building, and operating brands in virtual worlds. VBG works in partnership with global intellectual property across entertainment, fashion, retail, lifestyle, and beauty to deliver immersive experiences, social games, digital marketing campaigns, virtual fashion, and next-level token reward programs. The company won Licensing International's "Best Digital Licensed Product" for its work building Forever21's Shop City into the #1 retailer on Roblox (the first-ever metaverse winner). VBG was recently credited with making Forever 21 one of the "top 10 metaverse companies for 2023." Additionally, the company has been featured in over 500 top-tier media outlets for its work with other brands, including Barbie, for which it designed the iconic character's first-ever virtual fashion line and putting "The Voice" singing competition with NBC - airing in 145 territories - into the metaverse for the first time securing record-breaking numbers. VBG is credited with developing "Infinite Loop Marketing,™" the first-ever avatar-to-ecommerce program where items can be sold simultaneously in the metaverse and real life. #GetMetaversed on Twitter and LinkedIn. For more, visit virtualbrandgroup.com. ContactNora [email protected]

Zero-knowledge proofs (ZKPs) have been a hot topic in the blockchain community, with many upcoming releases and new applications on the horizon. As a cryptographic tool, ZKPs are a formidable ingredient for decentralized, provable, and private communication. How ZKPs are used and whether they actually preserve privacy is highly dependent on the product’s use case and implementation. In this article, we will explore the concepts of ZKPs, their applications in different use cases like rollups, ZK-VMs, and ZK-EVMs, and how it all relates to Dusk. We also delve into what scaling and virtual machines are from a high level. Locked Boxes and Secret Words - ZKP Intro Zero-knowledge proofs are a way of proving that you know something. However, the superpower of ZKPs lies in the convenience of their verification, rather than the proof generation itself. In fact, the verification of a zero-knowledge proof is so potent, that it can be used to exempt the prover from disclosing his knowledge. Zero-knowledge proofs provethatyou know, or that a transaction is correct, notwhatyou know or what a transaction was. Think of it like a game of 20 Questions: imagine you're playing with someone who is trying to guess a secret word that you know. Normally, you would have to tell them the word if they guessed it correctly, but with zero-knowledge proofs, you can prove that you know the word without actually revealing it. Rather than revealing what the answer is to prove that you know it, you would have a cryptographic proof that proves that you know the answer, but not sharing what the answer actually is. However, sometimes privacy is not the point. Say a complex calculation takes a lot of time to be performed, for example calculating a high number of permutations of DNA, or computing the end result of executing millions of transactions. You can simply provide a ZKP of the correctness of your result and let verifiers skip the calculation and validate that proof instead. In the context of cryptography and computer science, zero-knowledge proofs can be used for a variety of applications, from enhancing privacy to scaling, voting systems, digital identity verification, and more. What makes something zero-knowledge? The requirements to be considered zero-knowledge are; completeness, soundness, and zero-knowledge. Complete; if the statement is true then a verifier will be convinced. It is sufficient and needs no additional proofs or work. Sound; if the statement is false, no amount of cheating can convince the verifier otherwise. Zero-knowledge; no information is leaked and all the verifier learns is that the statement is true. The key feature here is that no information is leaked and all that has been proven is the validity of a given statement. For example, if I want to prove that I am a student and am eligible to receive a student discount, the only information the verifier learns is that “he is eligible for the student discount”. They don’t learn where I’m studying, what I’m studying, when I started studying, and not even if I am actually a student or I acquired the eligibility through some other means (i.e.ad honoris). Just that I meet the criteria. From Traffic Jams to Lunch Rushes - Blockchain Scaling Scaling refers to the ability of a network to increase the processing power of its infrastructure by adding more operators. In decentralized networks, however, it often happens that increasing the number of nodes (operators) results in a much slower capacity to process transactions and increased costs. Think of it like a busy highway: just like how traffic can slow down and become congested on a busy road, networks can become congested and slow down as more users join the network and start using it. This is why the capability of scaling is paramount for a blockchain. You can think of it like a restaurant during the lunch rush. Networks capable of scaling are like establishments that can increase staffing, equipment, and space to keep up with higher demands without customers experiencing any significant degradation of services or higher costs. On the other hand, the networks that are not equipped for scaling are like expensive but poorly managed restaurants where customers get continuously turned away, or have to wait much longer to be served during peak times. In short, if a blockchain is not able to scale it may become slow, expensive, or even crash during peak load. There are several different types of solutions that can be used to scale blockchains. One approach is known as Layer 2 (L2) scaling, which involves creating a secondary ledger that is meant to redirect traffic away from the main blockchain, known as the Layer 1 (L1). Think of it like a subway that runs under a busy street: just like how the subway can sustain a much higher load of travelers than the street above, L2 scaling solutions aim to increase the load of transactions that can be processed by a blockchain without congesting the settlement layer (the main layer or L1). Although the concept might be simple, there is no single implementation that satisfies all cases and researchers have proposed a variety of architectures each presenting different pros and cons. The main ones are State Channels, Rollups, Plasma, Sidechains and Validium/Volition. These architectures normally complement a so-called network partitioning strategy, which involves processing batches of transactions in parallel. The most popular partitioning strategy is called sharding. Sharding involves dividing the main blockchain into smaller, more manageable pieces called "shards." Each shard processes a subset of the network's transactions, which improves the speed and efficiency of the entire network. These subsets can be created based on proximity, processing similarity, or random distribution to balance the workload Sharding can be compared to a restaurant with multiple kitchens, each with its own chef, servers, and maître D. Each kitchen is a shard, calibrated to efficiently serve a specific number of tables. Customers are distributed evenly among the available tables, so each shard can provide the same high level of service without being overloaded. Ultimately, all customers’ payments end up in the restaurant’s bank account, which in this example represents the settlement layer. Similarly, sharding can help to ensure that blockchain transactions are processed quickly and efficiently by breaking the network into smaller pieces that are then presented and settled on the blockchain’s main layer. Exploring Rollups and ZK Rollups are currently one of the most popular scaling solutions for blockchains. They work by aggregating a large number of transactions off-chain and then submitting a single transaction to the main blockchain that represents all of the off-chain transactions. Think of it like a grandma preparing a large batch of cookies: rather than baking each cookie individually, the granny can prepare a large batch of cookie dough and then bake all of the cookies at once. This helps to save time and resources, while still producing the same delicious result. ZK-rollups, or zero-knowledge rollups, are a specific type of rollup that use zero-knowledge proofs to provide additional security guarantees and, in rare cases, some privacy. In a ZK-rollup, transactions are bundled together by the rollup and processed by a smart contract on the main chain. A prover generates a proof that the transactions are valid. This proof is then submitted to the main blockchain, along with a small amount of additional data that is needed to verify the proof. It's worth noting that most ZK-rollups don’t provide any privacy guarantee since they use zero-knowledge proofs for the efficiency of their verification, rather than privacy. Validity rollups, which is the more correct term for most ZK-rollups, simply bundle a large number of transactions together and submit them to the main blockchain as a single transaction, by using zero-knowledge proofs to verify their validity. Technically speaking, they only use the completeness and soundness properties of Zero-knowledge proofs, but not their zero-knowledge property, so while they may not initially share all the details of a transaction in the transaction hash, it is often decodable and not as private as users may think. The primary reason for doing so is to be able to reconstruct the rollup chain in case of failure. Playtime in the Digital Sandbox - Virtual Machines intro A virtual machine (VM) is a software program that emulates a computer, allowing users to run programs in a simulated environment. Think of it like a playpen: just as how children can play in a safe and contained environment without disturbing the rest of the room, developers can run programs on a VM without needing to worry about the physical hardware that is running the code. This can be useful for a variety of reasons, such as providing a consistent development environment across different devices or operating systems. The Ethereum Virtual Machine (EVM) is a specific type of virtual machine that executes smart contracts on blockchains that are compatible with Ethereum. Smart contracts are self-executing programs that can perform various tasks, such as managing digital assets, validating digital identities, or executing financial agreements. To continue on the restaurant metaphor, think of the EVM as the chef in a kitchen. The chef has a set of available ingredients and follows various recipes to prepare different dishes. Just like a recipe, smart contracts can use and combine the available instructions to define complex tasks that the EVM then executes. The ZK-EVM is a special version of the EVM that uses zero-knowledge proofs to provide additional security guarantees for smart contract execution. In a ZK-EVM, the zero-knowledge proofs are used to verify that a smart contract has been executed correctly, which has been a large problem for most ZK-rollups that are currently live. Many ZK-rollups couldn’t leverage the existing Ethereum tooling and ecosystem to build smart contracts and instead had to build their own languages and VMs to support smart contracts. ZK-EVM designs are determined to solve this and prove that a smart contract has been executed correctly according to the EVM specification. Zero-knowledge proofs here are used to verify the correct computation of any arbitrary EVM instruction. How does all of this relate to Dusk? As the leading blockchain platform for confidential smart contracts and regulatory compliance, Dusk Network is at the forefront of leveraging zero-knowledge proofs to ensure privacy and security for its users. By utilizing zero-knowledge proofs, Dusk Network is able to keep transactions private, hiding both the assets and amounts being transferred from other participants on the network. At the core of Dusk Network is the Piecrust VM, a virtual machine that has been designed to be as optimized and efficient as possible when accessing, storing, proving, and verifying zero-knowledge proofs. This VM is specifically designed to be ZK-friendly, meaning that zero-knowledge proofs play a crucial role in every aspect of the network. Dusk Network is not a ZK-rollup or a ZK-EVM, it is a ZK sovereign L1 blockchain that has its own Proof-of-Stake consensus mechanism and doesn't rely on third parties for settlement. Additionally, Dusk Network has its own VM implementation that does not enforce EVM-compatibility, thus allowing the platform to avoid all legacy limitations and trade-offs of the EVM. In fact, smart contracts on Dusk's Piecrust VM compile to the much more modern and portable WebAssembly (WASM) bytecode. For third parties looking to extend Dusk Network's existing ecosystem, creating ZK-rollups and ZK-VMs would provide great ways for Dusk to offload computation from the main blockchain and provide verifiable computation from external sources onto the main blockchain. A ZK-WASM VM could provide a pathway for a ZK-EVM equivalent solution for Dusk, enabling everyone to prove that a certain computation took place and is provably correct. In conclusion, ZKPs have a significant impact on the blockchain industry by enabling more efficient and secure systems. With their potential to improve privacy and scalability, it is worth paying attention to how ZKPs will continue to shape the blockchain landscape in the years to come. ZKP-enabled dApps are still few and far between but will become more common as ZK-friendly blockchains like Dusk enable confidential smart contracts to be built. We encourage readers to learn more about ZKPs and explore the potential applications of this innovative and revolutionary technology. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

Blockchain technology can serve the entire financial market. Digitization on top of blockchain will mean transactions that are settled immediately, that remove third parties, and that are faster and cheaper. An antiquated financial system According to Emanuele Francioni, founder of Dusk Network, our current financial system is sorely in need of innovations that can cut out the inefficiencies of third parties. He states: "Often multiple intermediaries are needed to process something administratively. A good example is keeping records of shareholder registers. With every trade you have to go to a notary who, after everything has been passed, manually updates the shareholder register. A time-consuming job and on top of that you pay a lot of money for it. He continues: The administration at large custody companies may go digital, but even here the processes are often needlessly complex and dependent on multiple intermediaries who have to keep and submit their own records. For example, it can take up to two days for a transaction on a trading platform to be processed in all administrations." For Francioni, these are problems that can be solved by digitizing them on top of blockchain. He affirms: “You can process transactions on a blockchain in real time, and on our blockchain these transactions are also immediately final. You thereby remove a lot of administrative hassle and you take out all kinds of parties. It becomes faster, cheaper and often safer.” Blockchain provides truth With record keeping in the financial system there are times when certain records just don’t match up. With various intermediaries involved in any one process there is always room for one or more to have a different total to the others. With blockchain this is never the case. There is always a clear overview of who owns what, and this provides simplicity to any business process.However, the transparency of the blockchain can cause problems of its own, especially in regulated markets. This is where Dusk Network comes in. The Dusk Network blockchain is tailored in such a way that all the transactions and the personal data that goes with it can be verified with official agencies, but all this data is completely protected and anonymized from those a user transacts with. It means that a user can transact in full safety while institutions know that their regulatory obligations are being fully complied with. The Dusk Network smart contracts also prevent any user or institution from any erroneous transactions that might break compliance. European regulations incoming With the incoming Markets in Crypto Assets regulation (MiCA) it is becoming clear that Europe does want to support the shift towards blockchain. The MiCA initiative defines how digital transactions on a blockchain must comply. A pilot scheme beginning in 2023 will allow for large regulated trading platforms and custody companies to adopt blockchain technology for full tokenization. Francioni says of the scheme: “The scheme will allow these parties to apply for an exemption from a good number of 'restrictive' obligations. A huge boost for blockchain adoption in the industry, as they can immediately enjoy the benefits in their own systems." He adds: "We believe the world is currently in a transition phase to a fully digitized economy. That transition is now also being reinforced from Europe. I am proud that we play a fundamental role in this and can help our clients take the first step." Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

The FrenchNational Assembly has voted on new measures for crypto regulation, requiring a new set of compliance frameworks for new crypto firms registering operation in the country. As market turmoil in the crypto industry has reached new heights in 2022, global regulators have been at the forefront of making sure that the industry is run safely and securely. As a result, France has been no exception to this heightened regulatory scrutiny, caused in part by the widening influence of crypto and blockchain-based technologies which, in turn, has also led to the proliferation of exploits and even large-scale fraud, as was the case with FTX, a now-defunct crypto exchange which embezzled billions worth of holdings. Senator Hervé Maurey, representing the French Senate's Eure department, was among the first proponents of tigher crypto regulation in the country. Senator Maurey published an initially sketched proposal back in December 2022, at the height of the U.S. SEC's investigation on Sam Bankman-Fried. French solons voted 109-71 in favor of a bill which indexed plans for implementing new requirements on internal controls, cybersecurity procedures, and conflicts of interest. A previous note on the matter was published by the Autorité des marchés financiers (AMF/Financial Markets Authority), and was also voted positively by the French Senate. Sections from the bill state that new crypto firms who are in the process of obtaining a license will face new requirements from the regulator, with the said requirements being made in order to create a more viable and stable environment for crypto services and products across the market. This is also in alignment with the country's efforts to abide by and conform to the European Union's legal initiatives to create the Crypto Assets Regulation (MiCA) and position it as a globally-recognized standard or rulebook for other nations to follow for their localized crypto regulations. Top crypto exchanges such as Bitstamp and Binance have already acquired licenses for operation in France through the AMF, and will be exempted from the new categories, unless otherwise amended by the regulator. The registration framework for new crypto firms in France involves audits on a prospective company's governance and anti-money laundering mechanisms, two fronts of crypto services which are often scrutinized for products or platforms that involve custody and trading, such as exchanges. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

In an objection to Voyager's proposed restructuring plan, the commission argued some of the involved parties should not be exempt from certain financial claims in the future.

The arrival of the Ordinals Protocol, which allows for the creation of Bitcoin NFTs, has coincided with a big jump in the price of bitcoin. Add that to the SEC's exemption of Bitcoin from the label of security, and we see a bullish bitcoin picture emerging.

While the Senator did not expand on other details of the upcoming bill, she suggested that DeFi should not be exempt from AML laws.

The Luxembourg-based Bitstamp became the latest cryptocurrency trading venue to receive the green light from the French regulators.

Crypto investors have been feeling rejuvenated since the start of 2023. The market has become favorable and new projects like Orbeon Protocol (ORBN) have boosted investors&rsquo; confidence. Meanwhile, VeChain (VET) and Decentraland (MANA) have also posted growth. However, Orbeon Protocol (ORBN) has easily surpassed VeChain (VET) and Decentraland(MANA) with a growth rate of 1675% during its presale. >>BUY ORBEON TOKENS HERE>BUY ORBEON TOKENS HERE>BUY ORBEON TOKENS HERE<< Orbeon Protocol (ORBN) Heads Toward 6000% Return On Investment Orbeon Protocol (ORBN) is a perfect mix of the conventional tools of crowdfunding, venture capital industry, and the blockchain. Orbeon Protocol (ORBN) is a blockchain-powered platform that mints digital tokenized versions of company shares on behalf of startups seeking to raise funds. The Orbeon Protocol (ORBN) platform mints equity-based NFTs for businesses, which are in their nascent stage. Orbeon Protocol (ORBN) also permits retail, small investors to become venture capitalists by investing as low as $1. Orbeon Protocol (ORBN) has a tool, NFTs-as-service (NFTaas), which enables companies to raise capital without any friction. Orbeon Protocol (ORBN) benefits companies as well as investors. The platform enlists only real-world vetted businesses for investment procedures. Thus, Orbeon Protocol (ORBN) helps users make value-based investments in growth-bound businesses. Additionally, the platform also ensures that users do not get trapped in financial scams during the fundraising process. OrbeonProtocol (ORBN) has a built-in &ldquo;Fill or Kill&rdquo; mechanism that assures people will get their invested money back if a project fails to amass the minimum amount. Four essential constituents, i.e. Orbeon Exchange, Orbeon Wallet, Orbeon Swap, and a Metaverse, form the ecosystem of Orbeon Protocol (ORBN), run by ORBN tokens. These tokens have dual use cases because they can be used as governance and transactional cryptocurrencies. Besides, ORBN holders will earn many rewards, like the right to vote on important matters of the platform, and receive discounts on trading fees and cashback rewards. Following the gigantic success of the first six stages, the seventh stage of the OrbeonProtocol (ORBN) presale is moving forward with flying colors. The market price of ORBN tokens has increased from the tag of $0.004 to $0.071 in just a few weeks. Orbeon Protocol (ORBN) is anticipated to register an exemplary growth rate of 6000% in the coming months. ORBN tokens are also forecasted to reach the price of $0.24 before the presale phase culminates. Find Out More About The Orbeon Protocol Presale Website: https://orbeonprotocol.com/ Presale: https://presale.orbeonprotocol.com/register Telegram: https://t.me/OrbeonProtocol Disclaimer: This is a sponsored press release and is for informational purposes only. It does not reflect the views of Crypto Daily, nor is it intended to be used as legal, tax, investment, or financial advice.

The country's Virtual Assets and Regulatory Authority (VARA) has released a new set of regulations for the any crypto-linked firm attempting to set up a business in its jurisdiction. Among these new regulations is one that might not come off as a surprise: privacy. Dubai has been known for its stringent measures in terms of crypto-related activities, and this is yet another step taken to ensure that crypto firms abide by the laws of the country. The regulator has set down a total ban on privacy-focused crypto projects and assets such as Monero (XMR) and Zcash (ZEC). Other privacy-focused cryptocurrency projects such as DASH, Horizen (ZEN), Verge (XVG), and Beam will also be affected. The regulator did not specify, however, whether third-party dApps such as Tornado Cash will also be included in the ban. The move comes after a number of privacy coins have started to gain traction in the crypto industry, with many crypto investors turning to them as a way to protect their funds from government regulations. To combat this, Dubai has implemented a policy that crypto firms must be able to demonstrate the origin of crypto funds and crypto assets present in their systems. Licensing must also be obtained only from the regulator, with no other recourse for any crypto firm but to comply to its regulatory framework to obtain an operational license. According to the VARA's recently released statement, anonymity-enhanced cryptocurrencies pose a threat to the country's financial stability, such that any token or cryptocurrency operating from this notion must be banned to prevent and miscalculations on the part of the regulator.&ldquo;Anonymity-enhanced cryptocurrencies prevent the tracing of transactions or record of ownership through distributed public ledgers and for which the virtual asset service provider [VASP] has no mitigating technologies or mechanisms to allow traceability or identification of ownership," the document details.According to VARA, crypto firms and individuals found to be in violation of the compliance framework may be subjected to a hefty fine of up to 20 million Dirhams, which is roughly the equivalent of $5 million in USD. Institutionally-tied projects may be fined much more, running up to 50 million Dirhams ($13 million) for any action construed as a violation of VARA's terms.There's a bit of relief here though: these new rules will only apply to crypto and digital asset firms operating in Dubai. Those which are located in the Dubai International Financial Centre (DIFC) economic zone will be exempt from these regulations, given that they are under the jurisdiction of a separaate regulator. Despite this, VARA insists that everyone in Dubai's crypto market should still abide by the regulations for advertising and marketing their products and services.This latest development is a bit concerning, though. Dubai has been known for its crypto-friendly business environment, with Binance chief Changpeng Zhao even considering to put up headquarters for their exchange in the country. It can also, to a certain degree, become a setback for crypto projects that have privacy features in terms of adoption. While this could prove to be beneficial in the long run, setting limitations on what crypto assets and tokens could and could not do may be counterintuitive to what the values of crypto and decentralization represent. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

But the country’s financial watchdog says it will “take a consistent approach to that taken for other high-risk investments,” when the time comes to set up enforcement rules.

The United Kingdom (U.K.) has opened a consultation on new rules for regulating the crypto sector. The government intends to regulate cryptoassets, including trading, lending, and custody, similarly to that traditional finance (TradFi). The U.K. has set out plans to regulate cryptocurrencies and protect consumers. H.M. Treasury issued a press release earlier today in which it opened consultation surrounding a set of &ldquo;ambitious plans to robustly regulate cryptoasset activities &ndash; providing confidence and clarity to consumers and businesses alike.&rdquo; The U.K. government&rsquo;s actions to regulate cryptocurrencies have been driven by Prime Minister Rishi Sunak&rsquo;s plans to attract more crypto business and investment in the country and to make the U.K. a global crypto-asset hub, and out of a need to better protect consumers against volatile market conditions such as those experienced in recent months. U.K. Announces &ldquo;Robust&rdquo; Plans to Protect Consumers and Grow the Economy As cryptoassets, or &ldquo;crypto,&rdquo; as they are more commonly known, are a new, diverse, and evolving class of assets that have so many benefits to offer; they do, however, come with risk to consumers. As is the nature of emerging technology markets, cryptos remain highly volatile, and the recent failures of some of the top industry players have &ldquo;exposed the structural vulnerability of some business models in the sector.&rdquo; The U.K. argues that its robust approach to regulating the crypto sector will mitigate some of the most significant risks while benefiting from the advantages of the digital asset market. The consultation was published on February 1, and Treasury will continue to seek responses until April 30. Andrew Griffith, Economic Secretary to the Treasury, said in the press release: We remain steadfast in our commitment to grow the economy and enable technological change and innovation &ndash; and this includes cryptoasset technology. But we must also protect consumers who are embracing this new technology - ensuring robust, transparent, and fair standards. U.K.&rsquo;s Approach to Regulating Cryptoassets is Consistent with its Approach to TradFi The Treasury has said it will seek to regulate cryptoassets in an approach consistent with traditional finance. The first of the U.K.&rsquo;s robust approach to regulation is to place the responsibility on crypto trading venues for defining detailed content requirements for admission and disclosure documents, ensuring that crypto exchanges have fair and robust standards. The government has also proposed strengthening the rules around financial intermediaries and custodians. These entities enable the transacting and storage of customers&rsquo; cryptoassets. The proposed regulations also address industry concerns about the limited number of Financial Conduct Authority (FCA) authorized cryptoasset firms who can issue their own promotions. According to reports by Bloomberg, many crypto companies raised concerns over the government&rsquo;s proposals on cryptoasset promotion, arguing that firms which have already met the FCA&rsquo;s standards should be able to issue their own advertisements without having an authorized third-party sign-off. To address this, H.M. Treasury is introducing a time-limited exemption to this rule. The exemption will allow cryptoasset businesses registered with the FCA for anti-money laundering purposes to issue their own promotions for the time being while the broader cryptoasset regulatory regime is being introduced. FCA Rejects Most Crypto Companies The U.K. should receive H.M. Treasury&rsquo;s proposed regulation well, given that issues with the FCA have recently come to light beyond those mentioned above. Recent reports revealed that the FCA has thus far only given regulatory approval to 41 of the 300 crypto-related companies registered with the agency. The agency made an announcement regarding the fact that only about 15% of companies have gained regulatory approval. Still, it gave no decisive reason why the agency has successfully approved so little. The FCA said: The FCA has been the anti-money laundering and counter-terrorist financing (AML/CTF) supervisor of U.K. cryptoasset businesses since January 10, 2020. Since then, we have received over 300 applications for registration under the MLRs and have determined over 260 as of January 2023. Of the applications we determined, we approved and registered 41 (15%), 195 (74%) were either refused or withdrew their application, and we rejected 29 (11%) submissions. Global Cryptoasset Regulation Appears Imminent The U.K.&rsquo;s effort to regulate the crypto sector aligns with the global approach to cryptoassets. In April, the European Union (E.U.) will have its final vote on its wide-ranging Markets in Cryptoasset bill (MiCA), while the Biden Administration announced a framework for reducing the risks associated with cryptoassets last week. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

The Treasury also gave crypto companies a time limited exemption to approve their own crypto promotions until more regulation comes.

State Senator Wendy Rogers of Arizona introduced two bills to make Bitcoin legal tender in the state and allow state agencies to accept Bitcoin. Sen. Wendy Rogers (R-AZ) introduced a set of bills to make bitcoin legal tender in Arizona and one that would allow state agencies in Arizona to accept Bitcoin. The bill to make Bitcoin legal tender in the state aims to have Bitcoin recognized as a legal form of currency in Arizona, meaning that individuals and entities may use it to pay debts, taxes, and further financial obligations. Essentially, this means that all transactions currently conducted in U.S. dollars could be done in Bitcoin and would afford businesses and individuals the option to use the currency as they see fit. Rogers Introduces Two Bills That Would Allow the Use of Bitcoin in Arizona The bill regarding Bitcoin as legal tender specifically mentions Bitcoin alone and defines it as: The decentralized, peer-to-peer digital currency in which a record of transactions is maintained on the Bitcoin blockchain and new units of currency are generated by the computational solution of mathematical problems, and that operates independently of a central bank. The second bill, which involves state acceptance, appears to be broader and does not mention only Bitcoin as a currency that state agencies could accept but refers to &ldquo;cryptocurrencies.&rdquo; The bill states: A state agency may enter into an agreement with a cryptocurrency issuer to provide a method to accept cryptocurrency as a payment method for fines, civil penalties or other penalties, rent, rates, taxes, fees, charges, revenue, financial obligations, and special assessments to pay any amount due to that agency or this state. Rogers Continues to Push for the Acceptance of Bitcoin Senator Rogers previously introduced a bill proposing making Bitcoin legal tender in Arizona. The bill, introduced in January 2022, did not come to fruition. Rogers, fellow senators Sonny Borelli, and Justine Wadsack recently introduced new legislation that allows voters to decide in 2024 if virtual currencies should be classed as tax-exempt property. As it stands in Arizona, all public debts, certain household goods, and all federal, state, county, and municipal property are tax-exempt. According to reports by Market Watch, Roger&rsquo;s tax bill defines virtual currencies as tokens that do not represent the U.S. dollar or a foreign currency and is not Arizona&rsquo;s first bill that pertains to crypto taxes. In 2018, a bill was proposed that would give Arizona residents the option to pay taxes using cryptocurrencies, but it was ultimately vetoed in May 2018. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

Should the bill pass the legislature, Arizona voters could choose whether virtual currency is tax exempt as part of a November 2024 ballot measure.

Cryptocurrency lender Nexo Capital has agreed to a fine of $45 million to settle charges brought against it by the United States Securities and Exchange Commission (SEC) and state regulators over its failure to register its crypto asset lending product. On Thursday, the SEC announced that it charged Nexo with failing to register its retail crypto asset lending product called Earn Interest Product (EIP). In order to settle the charges brought against it, Nexo agreed to a pay penalty totaling $45 million. Nexo has agreed to pay $22.5 million to the SEC, and a further $22.5 million in fines to state regulators. In September 2022, Nexo came under regulatory fire for its EIP by eight states in the U.S.. including California, Kentucky, New York, Maryland, Oklahoma, South Carolina, Washington andVermont. State regulators alleged that Nexo offered its product without them being registered as securities and without disclosing them properly to customers. The SEC alleges that Nexo began offering its EIP in June 2020 which allowed U.S. investors to hand their crypto assets over to the company in exchange for a promise of interest. Nexo ceased offering its product to new investors after the SEC brought similar charges against another company in February 2022. The SEC issued a press release which states: According to the SEC&rsquo;s order, in or around June 2020, Nexo began to offer and sell the EIP in the United States. The EIP allowed U.S. investors to tender their crypto assets to Nexo in exchange for Nexo&rsquo;s promise to pay interest. The order states that Nexo marketed the EIP as a means for investors to earn interest on their crypto assets, and Nexo exercised its discretion to use investors&rsquo; crypto assets in various ways to generate income for its own business and to fund interest payments to EIP investors. The order finds that the EIP is a security and that the offer and sale of the EIP did not qualify for an exemption from SEC registration. Therefore, Nexo was required to register its offer and sale of the EIP, which it failed to do. Nexo Finds Itself the Subject of Investigations Despite the charges brought against the lender by the SEC and state regulators, Nexo is also the subject of a large-scale investigation in Bulgaria relating to allegations of money laundering, computer fraud, tax offenses and various other crimes. The company&rsquo;s offices in Bulgaria were raided by over 300 police officers. Nexo further filed suit against the Cayman Islands Monetary Authority (CIMA) for rejecting its application to become a virtual asset service provider (VASP) in the country. Nexo&rsquo;sdecision to sue CIMA comes after the regulator denied it registration as a VASP due to the regulatory issues and enforcement that currently surround the lender. CIMA argues that &ldquo;Nexo posed a risk to market confidence, consumer protection and the reputation of the Islands as a financial centre.&rdquo; Nexo seeks that CIMA&rsquo;s decision be overturned and for the lender to be awarded a VASP registration. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

Cryptocurrency lender Nexo Capital has agreed to a fine of $45 million to settle charges brought against it by the United States Securities and Exchange Commission (SEC) and state regulators over its failure to register its crypto asset lending product. On Thursday, the SEC announced that it charged Nexo with failing to register its retail crypto asset lending product called Earn Interest Product (EIP). In order to settle the charges brought against it, Nexo agreed to a pay penalty totaling $45 million. Nexo has agreed to pay $22.5 million to the SEC, and a further $22.5 million in fines to state regulators. In September 2022, Nexo came under regulatory fire for its EIP by eight states in the U.S., including California, Kentucky, New York, Maryland, Oklahoma, South Carolina, Washington, and Vermont. State regulators alleged that Nexo offered its product without them being registered as securities and without disclosing them properly to customers. The SEC alleges that Nexo began offering its EIP in June 2020 which allowed U.S. investors to hand their crypto assets over to the company in exchange for a promise of interest. Nexo ceased offering its product to new investors after the SEC brought similar charges against another company in February 2022. The SEC issued a press release that states: According to the SEC&rsquo;s order, in or around June 2020, Nexo began to offer and sell the EIP in the United States. The EIP allowed U.S. investors to tender their crypto assets to Nexo in exchange for Nexo&rsquo;s promise to pay interest. The order states that Nexo marketed the EIP as a means for investors to earn interest on their crypto assets, and Nexo exercised its discretion to use investors&rsquo; crypto assets in various ways to generate income for its own business and to fund interest payments to EIP investors. The order finds that the EIP is a security and that the offer and sale of the EIP did not qualify for an exemption from SEC registration. Therefore, Nexo was required to register its offer and sale of the EIP, which it failed to do. Nexo Finds Itself the Subject of Investigations Despite the charges brought against the lender by the SEC and state regulators, Nexo is also the subject of a large-scale investigation in Bulgaria relating to allegations of money laundering, computer fraud, tax offenses, and various other crimes. The company&rsquo;s offices in Bulgaria were raided by over 300 police officers. Nexo further filed suit against the Cayman Islands Monetary Authority (CIMA) for rejecting its application to become a virtual asset service provider (VASP) in the country. Nexo&rsquo;s decision to sue CIMA comes after the regulator denied its registration as a VASP due to the regulatory issues and enforcement that currently surround the lender. CIMA argues that &ldquo;Nexo posed a risk to market confidence, consumer protection, and the reputation of the Islands as a financial centre.&rdquo; Nexo seeks that CIMA&rsquo;s decision is overturned and for the lender be awarded a VASP registration. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

2022 was a challenging year for many crypto companies, but some maintained exemplary performance.

The measure should help British funds dealing with foreign investors adopt digital assets in their portfolios.

Kathleen Breitman, co-founder of the Luxembourg-based blockchain platform, discusses why the collapse of FTX is a “massive distraction” for the industry but has made it prime time for hiring developers.

Project founders will no longer be subject to hefty taxes which forced them abroad from next April onwards.