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Mark Karpeles, the former CEO of the infamous Mt. Gox exchange, is set to launch a new cryptocurrency exchange named Ellipx later this month. Based in Poland, Ellipx aims to prioritize transparency and compliance with the European Union’s Markets in Crypto-Assets (MiCA) regulation. The platform will initially operate as a crypto-only exchange, with plans to … Read more
The Central Bank of Brazil has hinted at implementing artificial intelligence (AI) and data monetization processes into Drex, its central bank digital currency (CBDC). In a recent presentation, Roberto Campos Neto, the Central Bank of Brazil’s president, stressed that the bank’s innovation agenda had four blocks: Pix, Drex, Currency Internationalization, and Open Finance. However, he … Read more
Polygon has officially upgraded from MATIC to POL as its network token, marking a significant milestone in its evolution. This community-driven upgrade, effective from September 4, 2024, transitions POL to be the native gas and staking token for the Polygon proof-of-stake network. Users holding MATIC on Ethereum can seamlessly migrate to POL through the Polygon … Read more
The United Arab Emirates (UAE) is committed to supporting the economic development of the Global South through its membership in the BRICS group, according to Younis Haji Al Khoori, Under-Secretary of the Ministry of Finance. The UAE aims to foster cooperation among BRICS countries to achieve shared goals like financial stability, sustainable development, and enhanced … Read more
Tether and Mahidol University International College (MUIC), a prestigious institution in Thailand known for its diverse and international academic programs, have signed a Memorandum of Understanding (MOU) to integrate stablecoin, blockchain, and peer-to-peer (P2P) technology into MUIC’s curriculum. This collaboration will feature workshops, guest lectures, and research projects aimed at enhancing finance education and fostering … Read more
Samsung Next has announced its investment in Startale Labs, a company at the forefront of the Web3 ecosystem. This partnership aims to address the limitations of centralized systems by providing essential tools and infrastructure for decentralized applications (dapps) and smart contracts. Startale Labs, known for its innovative solutions like the Astar Network and Soneium, is … Read more
The Commodity Futures Trading Commission (CFTC) has fined Universal Navigation Inc., operating as Uniswap Labs, $175,000 for illegal trading practices. The decentralized finance (defi) protocol operator was found in violation of the Commodity Exchange Act (CEA) for offering leveraged retail commodity transactions without proper registration. Uniswap Labs, the company behind a popular decentralized digital asset … Read more
Libya’s central bank governor, Sadiq al-Kabir, has fled the country due to threats and intimidation from armed militias. He claims that these actions are aimed at forcing him and other bank staff to return to work and comply with the interim Prime Minister’s attempts to replace him. For his part, Kabir accuses the Libyan premier … Read more
Riot Platforms Inc., the largest shareholder of bitcoin mining firm Bitfarms Ltd. with a 19.9% stake, issued an open letter calling for significant changes to Bitfarms’ governance ahead of the Oct. 29 special meeting. Riot criticized recent board changes as insufficient, emphasizing the need for independent directors to enhance shareholder value. The letter highlights concerns … Read more
The Financial Services Agency has released its tax reform requests for fiscal year 2025, highlighting the need to consider the tax treatment of virtual currency transactions as financial assets. This marks the first time virtual currencies are mentioned in such requests. Industry groups have long called for changes to the tax system for virtual currencies, … Read more