Zcash(ZEC)

The profligate spenders at FTX appear to have indirectly spent $3.5 million buying a centuries-old castle-turned-hotel in the Czech Republic.

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.“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.

The new regulations imposed by Dubai's VARA disallowed the employment of privacy coins, such as XMR and ZEC.

YouTuber Logan Paul has promised to drop his threats of filing a defamation lawsuit over a three-part documentary that painted Paul’s CryptoZoo project as a “scam.” No Lawsuit On Coffeezilla Controversial Youtube influencer Logan Paul is once again in the news over his crypto project, CryptoZoo. This time, he has taken back his threats to sue internet detective Stephen “Coffeezilla” Findeisen. Coffeezilla had produced and released a three-part documentary that highlighted Paul’s CryptoZoo project and labeled it a scam. In response, Paul released a video in which he threatened to sue Coffeezilla. However, Paul has deleted that tweet since then, and according to Coffeezilla, also promised not to file the defamation lawsuit. Coffeezilla tweeted, “Logan called me. He said he’s deleting the two responses, and is dropping the lawsuit threats. I believe he’s making a 3rd response, which I’ll be delaying my video to include. Hopefully this time he takes accountability and refunds the victims of CryptoZoo. That’s what matters.” Logan Paul Apologizes The drama started after Coffeezilla dropped the first video of his three-part video series on December 17. In this video, he called out Logan Paul for being the face of an unscrupulous project, which, according to him, had engaged in business malpractices. Paul responded by accusing him of defamation and threatened him with a lawsuit. However, according to Coffeezilla’s recent tweets, the two Youtubers have hashed out their differences. In fact, Coffeezilla even shared a screenshot of a message from Paul’s Discord server, where he apologized. The excerpt from the screenshot reads, “It was rash and misaligned with the trust issue at hand, so I called him today and apologized. The war is not with Coffee. In fact, I’m grateful he brought this to light. I will be taking accountability, apologizing, and coming forward with a plan in the near future,” Problems With CryptoZoo Paul had touted the CryptoZoo project as a fun blockchain game that allows players to earn money as they play. The game, which is still in an unfinished stage introduces a new cryptocoin. Furthermore, players will also be buying and selling eggs that will hatch into animal-based NFTs, in order to breed and create new eggs. Findeisen had conducted a months-long investigation on the same, exposing significant issues in the P2E game. The video reports accused Paul and the development team of shady practices. Controversy has dogged the project from the start. One of the game’s developers, Zech Kelling lied about the number of people working on the game. Reports claimed that Kelling has fled to Switzerland with the game’s code. 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.

Kanga Exchange is a multifunctional cryptocurrency platform. The core product of the exchange is the spot market, where you can find some of the most popular cryptocurrencies, features and a launchpad. Now, Kanga is going a step further by organizing a spectacular IEO. Exchange plans to raise at least $1 million and conduct a historic buy back of KNG exchange tokens. Kanga Exchange - future of the European market (H2) Polish cryptocurrency exchange stands out on the European market by offering innovative solutions for the blockchain industry. It is a quickly expanding system of FinTech products and services with the objective of enabling the adoption of cryptocurrencies in day-to-day life. Kanga Exchange founders have a long list of accomplishments in the FinTech sector. Cryptocurrency exchange and KNG token are their newest inventions. KNG creators have scheduled a number of significant events for their token in the near future. Maximum quantity of the KNG token is 21 million units, which coincides with the supply limit of Bitcoin. KNG, like many of the well-known exchange tokens including BNB, CRO and KCS, is also a utility token, bringing many functionalities to the community. Most valuable features (H2) Without a doubt, exchange points are Kanga's most significant product. Kanga is the market leader with over 350 locations throughout Europe and beyond. Founders like to emphasize that Poland, Czech Republic, and the United Arab Emirates are just the beginning of their expansion. Kanga has also prepared Kanga Local as an additional cryptocurrency exchange option. With Kanga's peer-to-peer system, which features over 300 real people - Locals, anyone wishing to purchase cryptocurrencies may do so with ease. There are various nations where Kanga Locals can be found, including Poland, Germany, Bulgaria, Norway, Sweden, and more. Visiting this page is the simplest way to contact the nearest Locals. On Kanga Exchange you will find many functionalities. The most important of all is the Launchpad, where users can find the latest public sales, private sales and Initial NFT Offerings (INO). It is worth mentioning that KNG has a unique staking system, as it has a special autotransfer, so that the daily rewards for staking are increased by a bonus that grows every day. The second of the functionalities is staking where the community will find the opportunity to earn passive income on tokens and stablecoins. In addition to the aforementioned, Kanga also includes features such as Dust Sweep and SWAP, which make users' lives much easier. KNG token IEO (H2) Founders of Kanga have planned a lot for the end of November. These events will be monumental for the European cryptocurrency exchange sector. Special KNG token IEO will take place on November 29. Community of the project will be given a unique opportunity to purchase tokens. Developers also created the mechanism to prevent price of the token from being dumped. Important aspect of this IEO is that the funds collected will not be used by the exchange for its own goals or technological development. The amount raised will fully benefit the community that rallies around the exchange and the KNG token. What will happen to the minimum of $1 million raised? The result of this IEO will be a historic for the European cryptocurrency scene BUY BACK. KNG tokens Buy Back (H2) Kanga is the first in Europe to plan a historic buy back of its tokens worth at least $1 million. The entire buy back will be conducted openly and everyone will have the opportunity to watch it live. On the exchange's website you will find a counter of bought back tokens and ten recent transactions. Creators are very committed to carrying out the action in full transparency. Start: 01.12.2022 Duration: 100 days Staking Rewards (H2) As a thank you to the exchange's supporters, the developers of Kanga Exchange plan to distribute half of the tokens collected during the buy back as staking rewards. Holders of KNG tokens will classically receive KNG staking rewards (which are generated from all revenues of the exchange) but for a period of at least a hundred days, rewards will be higher by the daily amount of tokens bought back from the market. It is worth noting that tokens will be bought back daily and half of the purchased tokens will immediately go into the pool for staking rewards. KNG token burn (H2) Exchange wanted its token to be deflationary for a long time. They decided that the ideal option would be to burn half of the bought back tokens. In this way, the project will reduce the number of tokens in circulation, which will directly affect the value of the tokens. The amount of tokens that will be allocated for burning will depend on the market price of the KNG token at the time of the buy back. Creators plan to allocate a minimum of half a million dollars for this purpose. As in the case of staking rewards, half of the tokens collected each day will immediately be burned. KNG Priority Pass (H2) Developers have prepared one more bonus for those staking KNG. Holders have the opportunity to take part in auctions before the IEO to guarantee the purchase of tokens at favorable conditions. With this arrangement, KNG holders who are staking their tokens are rewarded for their loyalty to the project. Auctions started on 26th of November with 6 available packages and will end an hour before actual IEO. IEO details (H2) IEO date: 29.11.2022 at 12:00 p.m. UTC Max investment: 2000 KNG KNG price: 50% of the market price from 26.11. Cliff: Tokens will begin to be released after 365 days. Vesting: Tokens will be released for 100 days, transferred directly to staking accounts of the buyers. Token type: ERC20 Mainnet: Ethereum https://trade.kanga.exchange https://kanga.exchange 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