Aptos, the newly launched blockchain built by the team that worked on Facebook’s axed Diem cryptocurrency, has issued a $50,000 grant to a Lorenzo Alvisi, a Cornell University computer science professor who specializes in blockchain and Web3 technology, according to a press release shared with CoinDesk. Source link
The protocol will be available on Osmosis, Cosmos’ largest decentralized exchange (DEX) with total value locked (TVL) of $180 million. Users will borrow and lend Cosmos-based tokens, while those that stake the MARS token will receive a portion of fees as a reward. Source
The United States Federal Reserve Board said on Jan. 27 that both insured and uninsured banks will be subjected to limits on certain activities including those that are associated with crypto assets. The board’s latest action does not preclude a state member bank or prospective applicant from providing crypto-assets safekeeping services. Limiting Regulatory Arbitrage The United States Federal Reserve Board has issued a new policy statement which says that both insured and uninsured banks under its supervision will be subjected to the “same limitations on activities, including novel banking activities,…
When preparing their applications, crypto firms should include details of a business model, roles and responsibilities of business partners, and demonstrate comprehensive business-wide risk-assessment capabilities. It should also show that the business has policies, systems and controls to manage risk, the FCA said. Source
The Securities and Exchange Commission (SEC) of Thailand has issued new regulations on custodied cryptocurrencies. Companies offering crypto custody services are now required to “establish a digital wallet management system to accommodate efficient custody of digital assets and keys and ensure safety of clients’ assets,” the regulator described. Thai SEC’s New Crypto Rules Thailand’s Securities and Exchange Commission (SEC) announced Tuesday that it has issued new rules on the “management of digital wallets for custody of digital assets and keys.” The new regulations went into effect on Jan. 16. The…
The EU deferred its final MiCA legislation vote for the second time in two months. The European Union (EU) has postponed the final vote on its Markets in Crypto Assets regulation (MiCA) until April this year. Due to a technical issue, the 27-member state intergovernmental union decided to defer the decisive vote on its highly anticipated crypto ruleset. Reports state that the guiding 400-page legal document could not be translated into the Union’s official 24 languages. It is mandatory that legal documents, such as the MiCA, comply with EU regulations…
The regulations took affect on Monday and offer policy and guidelines for overseeing the management of digital wallets and keys plus procedures for designing digital wallets. The regulation also sets out the need for a contingency plan in case an event occurs that could affect the management system of digital wallets and keys. Source
The World Economic Forum (WEF) released a “toolkit” for decentralized autonomous organizations (DAOs) on Jan. 17. More than 100 experts contributed to the document’s attempt to provide “a starting point for DAOs to develop effective operational, governance and legal strategies.” The 37-page so-called toolkit is explanatory in nature, with concise but encyclopedic entries on DAOs and related topics. It described the toolkit as “a set of adaptable resources for key stakeholders to help realize the full potential of this emerging form.” DAOs have “the potential to address many of the shortcomings of…
The Massachusetts Institute of Technology (MIT) Digital Currency Initiative (DCI) and associated organizations marshaled a sizable team of researchers in four low- and middle-income countries — India, Indonesia, Nigeria and Mexico — to study inclusion issues related to retail central bank digital currency (CBDC) design. They released the results of their 15-month research project on Jan. 13. In spite of a growing body of work related to CBDCs, “few if any proponents have offered practical insight into how CBDC will promote greater access to financial services,” the DCI, along with…
A Chivo wallet programmer has opened up about the different problems that the flagship cryptocurrency wallet of El Salvador faced during its initial stages. Shaun Overton, who alleges he was hired to help in the handling of the issues, has talked about ID theft, money laundering problems, and the tech issues he observed while working with the Chivo team. Chivo Wallet Problems Deconstructed Shaun Overton, a developer that supposedly was part of the team for Chivo Wallet, has talked about the different problems that the flagship cryptocurrency wallet, created by…