Day: February 27, 2023

In Creating Better Web3 Experiences, Developers Must Anticipate Regulatory Scrutiny

But developers are typically less aware of regulatory considerations that also need to be designed around, particularly when it comes to what the dapp’s code is and isn’t programmed to do. For example, dapps may have regulatory issues if the code could have been written to stop a user from performing a problematic transaction, but the developers failed to do so. In other words, if a user needs the dapp in order to sign a transaction, it can be argued that the dapp can unilaterally block a transaction from happening.…

UK banking regulator to propose crypto issuing, holding rules after Basel 3 finalized

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The United Kingdom’s bank regulator, the Prudential Regulatory Authority (PRA), will propose rules for issuing and holding digital assets, Bank of England (BOE) executive director of the Prudential Policy Directorate Vicky Saporta said in a speech at the bank Feb. 27. The rules will be developed with consideration for Basel III rules and the Financial Services and Markets (FSM) bill now being considered by the Parliament.  The FSM bill, which had its second reading in the House of Lords in January, would give the PRA the new secondary objective of…

Optimism DEX Velodrome Generates Record Weekly Fees Following Coinbase Announcement

The recent move in all-time weekly fees follows Coinbase’s announcement last week launching BASE, another layer two network built using Optimism tech, which has sparked interest in Optimism’s ecosystem. The price of Velodrome’s native token VELO, which has a market capitalization of roughly $62 million, has soared 84.3% in the past seven days, despite sliding 8.6% in the past day at time of press, per CoinGecko. In the same week, Velodrome had $263 million in weekly trading volume, a six-month high. Source AnnouncementCoinbaseDEXFeesgeneratesOptimismRecordVelodromeWeekly CryptoX Portal

Trezor Takes Control of Chip Production for Enhanced Security and Faster Production Time – Bitcoin News

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Trezor, the manufacturer of crypto hardware wallets, has announced that it will take control of its wallet chip production process by producing its own silicon chips. The company states that the newly designed “chip wrapper” will enhance device security and considerably shorten lead times for mass production. Trezor ‘Unpacks Process’ and Produces Its Own Silicon Chip On Feb. 27, 2023, the Prague-based cryptocurrency hardware wallet company Trezor announced that it is now responsible for its own silicon chip-making process. According to Trezor CFO Štěpán Uherik, the new “chip wrapper” enables…

Bitcoin bulls remain in charge even in the face of increasing regulatory FUD

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Bitcoin (BTC) price broke above $25,000 on Feb. 21, accruing a 53% year-to-date gain at the time, it made sense to expect the rally to continue after U.S. retail sales data from the previous week vastly surpassed the market consensus. This fuelled investors’ hope for a soft landing and the possible aversion of a recession in the U.S. economy.  The apex of the U.S. Federal Reserve’s strategy success would be increasing interest rates and scaling back its $9 trillion balance sheet reduction without significatively damaging the economy. If that miracle…

Crypto Hedge Fund Arca VP of Portfolio Management Leaves

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