Day: November 14, 2023

Crypto.com Acquires License In Dubai As Cronos (CRO) Price Slips

Crypto.com achieves yet another milestone with its recently acquired license from Dubai’s regulatory authority to offer services in the country by Dubai’s arm CRO DAX Middle East FZE. Significance of Crypto.com Recent License According to the announcement, Crypto.com Dubai’s entity acquired the coveted Virtual Assets Service Provider (VASP) license from Dubai’s Virtual Assets Regulatory Authority (VARA). This marks a major step for the firm as it aims to extend its services worldwide. The recently acquired VASP license will enable the firm to completely satisfy selected conditions and localization requirements outlined…

Lessons from New York for California’s New Crypto Licensing Regime

In this regard, protecting the company against intrusion and attack must be a high priority. For financial services, cybersecurity is a central concern. The biggest risk to business and government bar none is cyber threats. New York’s regulatory standard, written and enforced by DFS, is the national standard and a model for other state and federal regulators, including the National Association of Insurance Commissioners and the Federal Trade Commission. Here, the goal is to guard against theft of assets, crippling of cyber infrastructure, and ransomware attacks. Source

BlackRock’s XRP ETF Filing, Everything You Need To Know

Since Monday, discussions around the mysterious BlackRock XRP ETF filing that appeared in Delaware have dominated the crypto space. The news of the filing was initially debunked by Bloomberg’s Eric Balchunas, but recent developments have raised suspicions that the filing was actually made by BlackRock. BlackRock XRP ETF Could Be Filed By Anyone One interesting revelation that has come from the BlackRock XRP ETF debacle is the fact that pretty much anyone can make an ETF Trust. Pro-XRP attorney Jeremy Hogan revealed this on X (formerly Twitter), saying that anyone…

OKX launches Ethereum layer-2 testnet using ZK-based Polygon CDK

Crypto exchange OKX has launched a testnet for an upcoming Ethereum layer-2 network named “X1,” according to a Nov. 14 announcement. The network is being developed using the Polygon chain development kit (CDK) and will use zero-knowledge proofs to validate deposits and withdrawals between layers. OKX exchange interface. Source: OKX OKX is the sixth-largest centralized crypto exchange by volume, with over $1.8 billion in trading volume per day, according to data from CoinMarketCap. Its token, OKB, has a current market cap of over $3.6 billion, making it one of the top…

Opyn DeFi protocol founders are leaving crypto after CFTC crackdown

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Zubin Koticha and Alexis Gauba, two founders of the Opyn decentralized finance (DeFi) protocol, are stepping down from the project and “leaving crypto,” according to a statement from Koticha posted to social media on November 14. The statement comes approximately two months after Opyn settled an enforcement action against it from the US Commodity and Futures Trading Commision (CFTC). Hey Crypto Twitter, It’s been a while This one’s a tough one… After the regulatory action against Opyn, @alexisgauba and I have made the decision that we are leaving crypto. This…

Bim Afolami takes the reins on UK crypto policy as new Economic Secretary

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King Charles II has approved the appointment of Member of Parliament Bim Afolami to the position of economic secretary to the Treasury of the United Kingdom. In a Nov. 13 notice, the U.K. government said Afolami was one of several appointments in restructuring ministers and secretaries. As economic secretary, he will control many policies affecting the adoption of digital assets and central bank digital currencies in the United Kingdom. Under U.K. Prime Minister Rishi Sunak, former Economic Secretary Andrew Griffith promoted policies turning the country into a crypto hub, including…

Cryptocurrency Exchange OKX Coming Out With Layer 2 ‘X1’ Built on Polygon Technology

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Polygon’s CDK is currently in the mix for consideration for Kraken’s layer 2, according to people familiar with the matter, but Polygon Labs Chief Executive Officer Mark Boiron said he doesn’t think the announcement about X1 – the result of a major deal with a big exchange competitor – would scuttle its prospects. “If anything, frankly, it should be more attractive, including to exchanges,” Boiron told CoinDesk in an interview. Source