Our weekly roundup of news from East Asia curates the industry’s most important developments. South Korea invests another $51M in metaverse tech South Korea’s plans for metaverse domination are gathering pace. A Mar. 8 document prepared by the Ministry of Science and Information and Communication Technology (ICT), the National IT Industry Promotion Agency, and the Korea Radio Promotion Association, says…
Republican House Majority Whip Tom Emmer (R-MN) warned against a central bank digital currency (CBDC) Thursday, assailing the technology as an affront to American values of privacy, individual sovereignty, and free markets. The lawmaker’s comments came during a panel hosted by the Cato Institute, a libertarian think tank headquartered in Washington D.C. He described CBDCs as a struggle for power…
According to the Central Bank of Brazil, the digital real pilot project will use an Ethereum-compatible, permissioned blockchain for the issuance of the tokenized version of the country’s currency. Hyperledger Besu, the open-source platform elected for the tests, will allow the project to run without any licensing costs and to deal with maintenance costs later, if the platform is definitely…
According to the Central Bank of Brazil, the digital real pilot project will use an Ethereum-compatible, permissioned blockchain for the issuance of the tokenized version of the country’s currency. Hyperledger Besu, the open-source platform elected for the tests, will allow the project to run without any licensing costs and to deal with maintenance costs later, if the platform is definitely…
March started off on a low due to a resurrection of inflationary fears. On March 7, hawkish comments from U.S. Federal Reserve chairman Jerome Powell amplified the market’s expectation of a 50-basis point hike in the upcoming policy rate meeting on March 22 to March 23. On March 8, the U.S. government’s $1 billion Bitcoin (BTC) transfer of assets seized…
Block.one, the Peter Thiel-backed crypto startup that famously raised $4 billion in an ICO for Ethereum competitor EOS, said in a press release Wednesday that it has sold its entire Silvergate Bank equity position. In a statement, Block.one said that it “exited” its equity position following Silvergate’s announcement last week that it would not file its annual report with the…
Block.one, the Peter Thiel-backed crypto startup that famously raised $4 billion in an ICO for Ethereum competitor EOS, said in a press release Wednesday that it has sold its entire Silvergate Bank equity position. In a statement, Block.one said that it “exited” its equity position following Silvergate’s announcement last week that it would not file its annual report with the…
Voltz Labs CEO: DeFi Innovation Is Moving Offshore Because of US Regulatory Severity Voltz Labs Co-founder and CEO Simon Jones talks to Decrypt’s Jason Nelson at ETH Denver about using DeFi for interest rate swaps, the unfriendly regulatory environment in the US right now, emerging economies becoming crypto hubs, and the “cartoonishly large” market opportunity for DeFi. Source: https://decrypt.co/videos/live-events/3fFVrd6t/voltz-labs-ceo-defi-innovation-is-moving-offshore-because-of-us-regulatory-severity
A phased-in 30% tax on cryptocurrency mining electricity costs has been proposed by United States president Joe Biden in his administration’s 2024 fiscal year budget. A Department of the Treasury supplementary budget explainer paper released Mar. 9 said any firm using resources — whether they be owned or rented — would be “subject to an excise tax equal to 30…
GQ is the latest legacy print magazine to make moves in Web3 with the launch of its GQ3 community and the associated Ethereum NFT drop, which promised various benefits to buyers. But the men’s lifestyle magazine failed to sell out its mint, and now the brand is apparently trying to keep NFT buyers happy as resale prices fall. The GQ3…
