Crypto.com Granted In-Principle License in Singapore
- One of the advantages of receiving a Major Payment Institution license is that it allows companies to provide Digital Payment Token services to customers in Singapore.
- In order to acquire the license, Crypto.com was obliged to act in accordance with AML and CFT legislations, as well as comply with a number of legal demands.
June 22, 2022, 1:33 PM
Kris Marszalek, Co-Founder and CEO at Crypto.com, on the MoneyConf Stage during day two of RISE 2018 at the Hong Kong Convention and Exhibition Centre in Hong Kong. Seb Daly/RISE via Sportsfile
U.K. Backtracks Controversial Crypto Data Collection Proposal
- The rule, which was proposed last July, would have required all senders of crypto to collect the personal information of the recipient, even if they were using private wallets.
- Her Majesty’s Treasury decided to not enforce the rule following the feedback it received on its consultation paper, which was also released last July.
June 20, 2022, 7:02 PM
Big Ben (Elizabeth Tower) stands at the north end of the Palace of Westminster, the meeting place of House of Commons and House of Lords, London, United Kingdom, April 19, 2017. Shutterstock
Musk Hints at Crypto Payments on Twitter
- During a Twitter virtual all hands on deck meeting, billionaire Elon Musk said “it would make sense to integrate payments into Twitter”, including crypto.
- The CEO of Tesla and SpaceX also noted that his goal for Twitter was to “maximize the usefulness of the service”, and that enabling convenient payments was one way to do it.
June 17, 2022, 11:53 AM
Tesla CEO Elon Musk in California City, California, USA on 14 December 2020. Shutterstock
Japan Passes Stablecoin Bill to Protect Investors
- After the bill takes effect in 2023, only licensed banks, registered money transfer agents, and trust companies will be allowed to issue stablecoins in Japan.
- The bill notes that in order for stablecoins to be considered digital money, they must be linked to the price of yen or another legal tender.
June 3, 2022, 1:28 PM
Court of justice sign written in Japanese outside court. Shutterstock
May 31, 2022
Singapore’s MAS to Explore Blockchain and DeFi Use Cases
- Called Project Guardian, the new MAS pilot will be led by financial heavyweights J.P. Morgan, DBS Bank, and Marketnode.
- The first pilot of the project will explore DeFi applications in wholesale funding markets through the creation of liquidity pool of tokenized bonds and deposits.
May 26, 2022
Tether Launches Mexican Peso-Pegged Stablecoin
- Dubbed MXNT, the new stablecoin is aimed at Mexican companies, 40% of which were reportedly looking to “adopt blockchain and crypto”.
- The fourth fiat-pegged Tether stablecoin will initially be available on the Ethereum, Tron, and Polygon blockchains.
May 25, 2022
Decentralized Exchange Uniswap Surpasses $1T in Total Trading Volume
- Uniswap can be considered the largest DEX by trading volume, having surpassed $1 billion in trading over the past 24 hours.
- Uniswap was able to onboard millions of users to the world of DeFi, lower the barrier for liquidity providers, and also introduced fair and permissionless trading.
May 23, 2022
GameStop Launches Crypto and NFT Wallet
- GameStop’s self-custodial browser extension wallet will run on Ethereum’s Loopring layer-2 scaling protocol, enabling cheaper and faster transactions.
- The GameStop wallet will also allow users to connect to the GameStop NFT marketplace, which is expected to launch in the second quarter of the company’s financial year.
May 19, 2022
FTX.US Launches Stock Trading Platform in Beta
- The exchange noted that FTX Stocks will be the first platform of its kind to allow users to fund their accounts using fiat-backed stablecoins like USDC.
- The new platform will offer users no-fee brokerage accounts, commission-less trading, and free access to market and company fundamental data.
May 9, 2022
Meta to Start NFT Tests on Instagram This Week
- Mark Zuckerberg revealed that Instagram will be the first app under Meta’s control to start NFT tests, and that Facebook could soon see a similar functionality.
- Meta’s CEO also noted that the company was working on augmented reality NFTs, which will allow users to place their digital art into physical spaces.