Cryptocurrency
Authorities Reportedly Raid Nexo’s Bulgarian Offices
  • The probe into Nexo’s activities in Bulgaria was launched several months ago, after international services detected suspicious transactions aimed at circumventing Russian sanctions.
  • Reports suggest that Nexo is also being investigated for allegedly committing major financial crimes, and participating in money laundering activities.
January 12, 2023, 11:14 AM
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Israel’s Securities Regulator Proposes Crypto Legal Framework
  • ISA is looking to squeeze digital assets into already existing securities laws, which would allow it to treat them as financial investments.
  • Another proposal will define crypto as “digital representations” of value that are used for financial investment that can be transferred using a distributed ledger.
January 4, 2023, 1:00 PM
The national flag of Israel

The national flag of Israel. Shutterstock

Genesis Could File for Bankruptcy Without Funding
  • Bloomberg sources have said that Genesis warned investors it could possibly file for bankruptcy if it fails to cover a $1 billion shortfall caused by the collapse of FTX.
  • Crypto exchange Gemini, whose Earn program was affected by Genesis’ withdrawal suspension, noted it continues to work with the company to fulfil its obligation to Earn users.
November 22, 2022, 10:29 AM
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Genesis Global Pauses Withdrawals, Gemini’s Earn Program Affected
  • Crypto lender Genesis Global has temporarily suspended redemptions and new loan originations as abnormal levels of withdrawals had exceeded the firm’s current liquidity.
  • Crypto exchange Gemini revealed that Genesis Global was the lending partner of its Earn program, and that it will not be able to meet customer redemptions within its SLA of 5 days.
November 16, 2022, 5:28 PM
genesis

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Nov 4, 2022
Elrond to Focus on Metaverse Development, Rebrands as MultiversX
  • Blockchain developer Elrond is switching its focus to the metaverse, and in order to reflect that has now rebranded itself as MultiversX.
  • The company has also introduced three new metaverse products, which include a metaverse portal, digital assets holder, and a deployable blockchain module.

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Oct 31, 2022
India’s Central Bank to Launch Wholesale CBDC Pilot in November
  • The Reserve Bank of India will launch a wholesale CBDC pilot on Tuesday, and has selected nine locally operated banks to participate in the trial.
  • The central bank noted that it also plans to conduct retail CBDC trials within a month, allowing households and businesses to make payments using the digital rupee.
Oct 27, 2022
Google Cloud Launches Blockchain Node-Hosting Service
  • The “Blockchain Node Engine” was designed to be a fully managed service that would help Web3 developers build and deploy new products for the blockchain.
  • It features a number of security features, such as Google’s Cloud Armor that helps prevent DDos attacks from slowing down a network.
Oct 21, 2022
Interpol Enters the Metaverse
  • Interpol’s metaverse was designed to streamline communication between agencies around the world, and provide online education and training courses to new recruits.
  • The move was made to prepare Interpol for the rising popularity of the technology, which will inevitably increase the number of crimes being committed on the metaverse.
Oct 17, 2022
MasterCard to Help Banks Offer Crypto Trading
  • The new program will see MasterCard act as a “bridge” between Paxos and financial institutions, allowing them to offer crypto trading services to their clients.
  • The payments giant will also assist institutions with regulatory compliance and security, two reasons banks cite for avoiding the asset class.
Oct 5, 2022
European Parliament Tries to Streamline Rules on Crypto Taxation
  • The European Parliament said crypto assets must be subject to “fair, transparent and effective taxation”, and called for simplified tax treatment for small transactions.
  • The resolution, which passed with an overwhelming majority, also recommends the use of blockchain technology as it can “facilitate efficient tax collection”.
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