Day: October 7, 2023

Taiwan to propose crypto regulation in November

Taiwan is moving forward with plans to regulate the crypto industry by proposing a draft special law for first reading by the end of November, according to a lawmaker. Yung-Chang Chiang, a member of Taiwan’s parliament, said in an interview with The Block published on October 6 that a dedicated crypto asset act is necessary to oversee crypto firms, arguing that crypto diverges from traditional finance and requires tailored oversight. Chiang held a public hearing to discuss a draft proposal for the law. It would require all crypto platforms operating…

Sam Bankman-Fried goes on trial: A week in review

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Luxury real estate, political donations, investments, and magazine covers. A year ago, that was the life of Sam Bankman-Fried, Assistant U.S. Attorney Thane Rehn remarked during the opening statements of the world’s most famous crypto trial. “All of it was built on lies,” Rehn continued, claiming that the co-founder of Alameda Research and FTX “lied to the world” to get richer and increase influence by lobbying in Washington, D.C. Rehn’s statement apparently affected even Bankman-Fried’s defense counsel, who responded with a lukewarm remark. His attorney, Mark Cohen, portrayed his client…

First tokenized security launched on Coinbase’s Base protocol

The first tokenized security of the protocol was just launched on Coinbase’s scalability layer Base. Decentralized finance (DeFi) startup Backed.fi announced today that it has issued the first tokenized security on Base – bIB01, a tokenized short-term US treasury bond ETF. This launch transaction marks the first tokenized real-world asset (RWA) on Base, Coinbase’s layer 2 network built for scalable applications. Backed is utilizing Base to tokenize financial assets like ETFs and make them freely transferable across wallets while remaining fully collateralized. bIB01 tracks the iShares $ Treasury Bond 0-1yr…

Solana Enhances Privacy Offerings As SOL’s Uptrend Persists With 4% Gains

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Solana (SOL), a layer 1 proof-of-stake blockchain, has introduced version 1.16, which enhances user privacy through “Confidential Transfers.” This update includes encrypted Solana Program Library (SPL) token transactions, ensuring confidentiality rather than anonymity.  The adoption of version 1.16 by Solana’s network of validators has reached a majority after ten months of development and an audit by Halborn, a blockchain security firm. Solana Labs Rolls Out Privacy-Enhancing Update According to the announcement made by Solana’s infrastructure provider Helius, The update has undergone rigorous testing, with v1.16 running on testnet since June…