Tuesday October 18, 2022
◾ The EU’s Commissioner for Financial Services is calling on the US to follow Europe’s lead and derive its own rules to govern the crypto industry. (FT)
◾ Interpol has formed a specialized team to help countries combat crypto crimes. (Business-standard)
◾ Hong Kong is considering to expanding its “one country, two systems” principle to cryptocurrencies and may allow businesses to sell crypto directly to retail investors. (SCMP)
Government & NGO Actions
◾ Japan’s government agreed to amend existing legislation to prevent criminals from using digital currencies to launder money. (Cryptopolitan)
◾ France is planning to review its tax treatment for digital currencies in 2023 and is not likely to replicate existing equity policies. (Coindesk)
◾ Macau is drafting a bill to define digital forms of currency as legal tender with “equal status” to fiat. (News.bitcoin)
◾ Chile’s Deputy Chamber of Congress approved a bill to regulate crypto activities in the South American country. (New.bitcoin)
◾ Greenland is investing the use of blockchain technology for online voting. (Cision)
◾ Dubai’s police force has become the first global police agency to provide its services to customers through the Metaverse. (Khaleeejtimes)
Public Company Releases
◾ Silvergate Capital (SI) reported net income of $43 million driven by 1,677 digital asset customers and over $112 billion in transactions on the Silvergate Exchange Network during the quarter. (Silvergate)
◾ Marathon Digital (MARA) agreed to settle all claims with former CEO Merrick Okamoto and pay him $24 million. (Marathon)
◾ Blockchain Moon Acquisition Corp. (BMAQ) is acquiring the asset of DLTx ASA (DLTX) a Web3 mining and infrastructure company. (Globenewswire)
Restructuring, Losses and Legal News
◾ The judge in the Celsius bankruptcy has proposed that UK law be considered in the case as there is “no controlling legal precedents” in the US for many cases involving crypto. (Cases.stretto)
◾ US regulators are investigating bankrupt Three Arrows Capital and whether their activities mislead investors. (Bloomberg)
◾ The Texas State Securities Board (SSB) filed an objection in bankruptcy court to FTX’s proposed purchase of Voyager Digital saying the agency is investigating FTX, its principals and subsidiaries for offering unregistered securities. (Cases.stretto)
Protocols, Applications & Business News
◾ Coinbase (COIN) is threatening to sue as many as 100 users who benefited from a pricing glitch to withdraw over 100x of their actual asset values. (Benzinga)
◾ Mastercard (MA) is launching a program to offer crypto trading to their partner financial institutions. (CNBC)
◾ Binance intends to launch a cloud mining business in November. (Coindesk)
◾ Dapper Labs will allow users affected by EU sanctions to withdraw their NFTs to a non-custodial wallet. (Theblock)
Metaverse Briefings & Activations
◾ Decentraland is holding its second annual Metaverse Music Festival on November 10 – 13. (Metaversefestival)
Market Data
◾ The UK’s Financial Conduct Authority reported a 59% annual increase in cryptocurrency scams with 432 opened cases about unregistered crypto businesses. (FCA)
◾ DaapRadar has revised its numbers and now finds Decentraland has 655 daily active users. (DaapRadar)