Kripto Maksima is one of 25 crypto exchanges registered with Indonesia’s Commodity Futures Trading Regulatory Agency, known as Bappebti. The regulator stopped issuing new registration certificates for crypto firms earlier this month, with the aim of making trading activities “transparent, efficient and effective,” Tech in Asia reported, referencing a Bappebti statement. Source
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Singapore-based crypto lending firm Hodlnaut was placed under interim judicial management, a form of creditor protection program, by the Singapore court on Aug. 29. The court orders came three weeks after Hodlnaut froze all trading activities and withdrawals on its platform citing a liquidity crisis. In an official blog post on Aug. 30, the crypto lending platform notified its users that Ee Meng Yen Angela and Aaron Loh Cheng Lee, care of EY Corporate Advisors, were appointed as interim judicial managers. The blog post read: “The Court has delivered judgment…
Iran’s Industry, Mines and Trade ministry has approved the use of cryptocurrency for imports into the country amid ongoing international trade sanctions. According to local news reports, trade minister Reza Fatemi Amin confirmed that detailed regulations have been approved outlining the use of cryptocurrencies for trade and supplying fuel and electricity to Bitcoin (BTC) and crypto miners in the country. Amin outlined the regulatory change at an automotive industry exhibition on Aug. 28, just a week after the country had placed a first-ever import order for vehicles, to the tune…
Phil Spencer, head of the Xbox brand, believes that the metaverse has been with us since 30 years ago, when digital gaming was largely introduced. However, Spencer criticized play-to-earn (P2E) models, stating that they create a workforce out of a kind of gamer who needs to monetize the time spent playing. Xbox Boss Phil Spencer Believes the Metaverse Has Been Here for Some Time The metaverse and its current conceptions have been the subject of debate and criticism. The current head of the Xbox brand and CEO of gaming at…
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On Aug. 29, Hodlnaut’s legal representatives attended a court hearing alongside two creditors, both of which submitted nominations for IJM candidates. The judge appointed Ee Meng Yen Angela and Aaron Loh Cheng Lee, care of EY Corporate Advisors Pte. Ltd., as Hodlnaut’s interim judicial managers. Source
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The family of the world-renowned painter Frida Kahlo released never before seen art and memorabilia tied to the artist into the metaverse. The content debuted in a permanent exhibition during the third-annual Metaverse Art Week in Decentraland, held on Aug. 24–28. Metaverse users are now able to experience the art, along with personal anecdotes told by close family members in a digital replica of the “Red House.” The house represents the real-life version of the Red House, owned by the family, which stands in Mexico City. The Red House in…
The warning comes after a slew of DeFi hacks this year, which has led to investors losing billions of dollars worth of crypto. Source