Nauru has recently passed a bill establishing the Command Ridge Virtual Asset Authority (CRVAA) to regulate virtual assets, digital banking, and Web3 innovation. CRVAA to Issue VASP licences Nauru, the tiny island nation in the South Pacific Ocean, recently passed a bill establishing a dedicated virtual asset regulatory authority. The bill, which passed June 17, […] Source CryptoX Portal
Opinion by: Jin Kwon, co-founder and chief strategy officer at Saga Crypto has come a long way in boosting transaction throughput. New layer 1s (L1s) and side networks offer faster, cheaper transactions than ever before. Yet, a core challenge has come into focus: liquidity fragmentation — the scattering of capital and users across an ever-growing maze of blockchains. Vitalik Buterin, in a recent blog post, highlighted how scaling successes have led to unforeseen coordination challenges. With so many chains and so much value splintered among them, participants face a daily…
Jeju Island, South Korea’s special self-governing province, plans to introduce NFT-based digital resident tourism cards in the second half of this year. Jeju Authorities Target Millennial and Gen Z Visitors South Korea’s special self-governing province, Jeju Island, has announced plans to issue a non-fungible token (NFT)-based digital resident tourism cards in the second half of […] Source CryptoX Portal
In the latest episode of Regina’s Web3 Gaming Odyssey, she dives headfirst into Nifty Island—a metaverse brimming with customizable islands, NFT integration, and social interaction. Last week’s quick recap Last episode’s livestreamed game showcased Spellborne’s side quests. After delving into Spellborne’s side quests, I also shared my personal insights and explored the game’s tokenomics. Want […] Source CryptoX Portal
The Central Bank of Iran (CBI) has announced the initiation of a pilot scheme to introduce the country’s central bank digital currency (CBDC) on the southern island of Kish. The CBI stated on Tuesday that the digital rial will be available to banking customers and tourists in Kish starting on the first day of the […] Source CryptoX Portal
A group of 85 economists has supported the Honduran government’s decision to leave the World Bank’s arbitration body, the International Centre for Settlement of Investment Disputes (ICSID), amidst a legal conflict with the crypto island project Próspera Inc., which seeks $10.8 billion in compensation after losing its special economic status due to legislative changes in […] Source CryptoX Portal
The government of Palau is set to begin a pilot project for a United States dollar-backed stablecoin on July 26. The new coin will be issued on XRP Ledger. The country will release the first Palau Stablecoins (PSCs) in the pilot project to government employees. This comes after several days of testing using volunteers to make purchases with various devices. The PSC, nicknamed the Kluk, possibly due to its bird logo, is the latest project to run on the Ripple CBDC Platform that debuted in May. Ripple claimed at that…
Gabriel Bankman-Fried, the brother of former FTX CEO Sam Bankman-Fried, had a plan to survive a global catastrophe using funds from the now-defunct cryptocurrency exchange. According to a July 20 filing with the United States Bankruptcy Court for the District of Delaware, Gabriel planned to purchase the island nation of Nauru in the Pacific using allegedly misappropriated funds through the FTX Foundation. Projects with the charity “that served little purpose other than to enhance the public stature of Defendants,” according to court documents, included a $300,000 book grant on “humans’…
Gabriel Bankman-Fried, the brother of former FTX CEO Sam Bankman-Fried, had a plan to survive a global catastrophe using funds from the now defunct cryptocurrency exchange. According to a July 20 filing with United States Bankruptcy Court for the District of Delaware, Gabriel planned to purchase the island nation of Nauru in the Pacific using allegedly misappropriated funds through the FTX Foundation. Projects with the charity — “that served little purpose other than to enhance the public stature of Defendants,” according to court documents — included a $300,000 book grant…
The financial and advertising regulators of the United Kingdom have teamed up to send a warning to social media “finfluencers” telling them to stop promoting illegal “get rich quick” schemes or face law enforcement. The Financial Conduct Authority (FCA) and the Advertising Standards Authority (ACA) made reference to cryptocurrencies and nonfungible tokens (NFTs) in its April 6 statement in its seven-part checklist to ensure finfluencers stay within the bounds of the law. The checklist asks finfluencers to consider whether they’re the “right person” to be promoting the financial product and…