Legal
Exchanges
Coinbase introduces KYC rules for its Netherland users to comply with local legislation
The rule will require users to provide information of recipients when making transfers to wallets off Coinbase.
Taxes
Conservative MP Matt Hancock advocates for “attractive” tax and regulatory regimes in the U.K.
The Conservative MP Matt Hancock stated that the UK needs to be more liberal in its approach to crypto regulation.
People
Experts say the crypto downturn shouldn’t affect the U.S economy
The massive crypto sell-off has sparked fears of a recession in the broader economy. Experts say the losses are too insignificant, and its influence is too little to cause this.
Hacks
Chainalysis unveils a 24/7 hotline for victims of cryptocurrency crimes
Chainalysis response service will match crypto crime victims with a team of investigative experts to trace the funds and attempt their recovery.
NFTs
eBay acquires KnownOrigin marketplace, expanding NFT business
KnownOrigin said it believes the acquisition would "help bring even more creators and collectors into the space."
Regulation
The U.K makes a turnaround on KYC rule
The new rule only requires crypto insitution facilitating the transaction to collect personal data on transactions to unhosted or private wallets.
NFTs
Osmosis unveils a demo NFT builder
The NFT builder will allow users to customize their NFTs and earn accessories as they interact with the ecosystem.
Stablecoins
U.S. Fed says recent strain highlights ‘structural fragilities’ in stablecoin sector
The Fed states that vulnerabilities in stablecoins may be further heightened by the absence of transparency about the riskiness and liquidity of assets backing them.
NFTs
Rolling Stone to release 2 NFTs in partnership with BAYC
The NFT release will be accompanied by a collectible art sale which is available to the public.
Lending
Babel Finance suspends withdrawals due to “unusual liquidity pressures”
The crypto finance provider is pausing withdrawals and redemptions in response to harsh market conditions.
Hacks
Inverse Finance suffers another attack; Hacker steals $1.3 million, causes $5.8 million protocol loss
Inverse Finance said an oracle price manipulation exploit allowed a hacker to steal about $1.3 million, resulting in a loss of $5.8 million for the protocol.
Payments
Elon Musk advances support for integrated crypto payment system on Twitter
The CEO claims the move will allow for seamless transactions between users and make Twitter an everyday necessity.