Analysis
Regulation
UAE’s new anti-money laundering regulations incorporate FATF travel rule
UAE financial authority will enforce the FATF Travel Rule to curb anonymity in crypto transactions.
Regulation
Industry participants say UK’s Digital Securities Sandbox is a step in the right direction
UK Treasury's Digital Securities Sandbox consultation receives industry support, although with calls for further clarity.
Exchanges
Bybit extends proof-of-reserves to include 32 digital assets
Bybit's proof-of-reserve attestation showcases 100-124% collateralization across 32 assets as risk management takes center stage.
Exchanges
FTX and Bahamas subsidiary strike deal to unify asset distribution efforts
FTX and its Bahamian subsidiary, FTX Digital Markets, agree on a global settlement to align customer reimbursement efforts.
Politics
Elizabeth Warren criticizes crypto industry for extensive recruitment of former national security officials
In a letter to the Blockchain Association, Warren demanded details on the former intelligence, defense, and law enforcement officials hired to lobby for the crypto industry.
Regulation
Revolut to suspend crypto services for UK businesses amid regulatory overhaul
In light of the FCA's upcoming crypto policy changes, Revolut has suspended cryptocurrency services for UK business clientele.
Technology
Zilliqa block production ‘interrupted’ by critical technical snag
The core team announced it had encountered block production hurdles but reassured the community that assets were secure.
Legal
Coinbase plans new lawsuit, two SEC commissioners dissent in wake of SEC’s petition denial
Coinbase's chief legal officer, Paul Grewal, said the Commission's refusal amounted to an 'abdication of its duty.'
Layer-2
Arbitrum suffers 2-hour partial outage after ‘significant’ surge in traffic
The Arbitrum team has pledged a comprehensive post-mortem following an unexpected system interruption.
CBDCs
Korean central bank governor urges CBDC development to compete with stablecoins
Chang-yong Rhee warned of stablecoins undermining central banks and advocated for CBDCs to preserve monetary control.
Adoption
Japan’s web3 ecosystem aims to attract 5,000 international firms
The Asia Web3 Alliance Japan's efforts support web3 education and stablecoin usage to revolutionize Asia's tech horizon.
Crime
DOJ targets cryptocurrency scammers in $80 million ‘pig butchering’ scheme
The DOJ indictment targets four individuals behind an $80 million crypto investment scam, with over $20 million laundered through shell companies.