TL;DR Breakdown Indonesia has taken a significant step in regulating cryptocurrencies by launching its national crypto exchange and clearing house.  The move aims to provide a safe and transparent platform for crypto trading, attract investors, and curb illicit activities associated with digital assets.  With the exchange overseen by the Financial Services Authority (OJK), investor confidence is expected to rise, leading to increased economic growth and opportunities in the fintech sector. Description Indonesia has jumped on the crypto regulation bandwagon. As interest in crypto keeps growing worldwide, governments are trying to figure out how to handle these digital assets well. In this way, Indonesia has made a big step forward by opening its national crypto market and clearing house.  By making a platform for trading cryptos that … Read more Indonesia has jumped on the crypto regulation bandwagon. As interest in crypto keeps growing worldwide, governments are trying to figure out how to handle these digital assets well. In this way, Indonesia has made a big step forward by opening its national crypto market and clearing house.  By making a platform…

TL;DR Breakdown Chinese telecom operators are becoming increasingly interested in adopting the digital yuan as the CBDC discovers new adoption zones The PBoC believes telecom companies can assist in accelerating the digital yuan adoption China is seeing increased transactions using the digital yuan Description Chinese telecom firms are becoming increasingly interested in adopting the digital yuan as the CBDC discovers new adoption zones, a recent report has said. The federal People’s Bank of China (PBoC) is eager to include the country’s largest operators, such as China Telecom and China Unicom, more deeply in the pilot, according to EY (via … Read more Chinese telecom firms are becoming increasingly interested in adopting the digital yuan as the CBDC discovers new adoption zones, a recent report has said. The federal People’s Bank of China (PBoC) is eager to include the country’s largest operators, such as China Telecom and China Unicom, more deeply in the pilot, according to EY (via Sohu). Chinese telecom firms to accelerate digital yuan adoption The PBoC believes Chinese telecom firms can assist in accelerating the digital yuan adoption….

TL;DR Breakdown China’s digital yuan partnership with China Merchants Bank and Civil Aviation Administration revolutionizes air travel. People’s Bank of China aims for the widespread adoption of digital yuan in public transportation and logistics. Momentum builds as digital yuan payments are integrated into railway, metro, and bus systems. Description The digital yuan, China’s central bank-issued cryptocurrency, has taken to the skies with its latest partnership. A strategic alliance between China Merchants Bank and the Civil Aviation Administration has given birth to the cutting-edge e-CNY platform, catering to the needs of both business travelers and jetsetters alike. Launched on July 18 with much fanfare, the … Read more The digital yuan, China’s central bank-issued cryptocurrency, has taken to the skies with its latest partnership. A strategic alliance between China Merchants Bank and the Civil Aviation Administration has given birth to the cutting-edge e-CNY platform, catering to the needs of both business travelers and jetsetters alike. Launched on July 18 with much fanfare, the platform has opened up exciting possibilities for Chinese business travelers. Notably, it enables them to seamlessly purchase plane…

TL;DR Breakdown Vermont’s DFR warns of rising cryptocurrency scams, citing a case of a man losing $340,000. Cryptocurrencies lack traditional safeguards, leading to a 900% increase in scams since the pandemic’s start. The DFR urges prompt reporting of fraud to law enforcement, including the FBI’s IC3, and local Vermont authorities. Description The Vermont Department of Financial Regulation (DFR) issued an investor alert on July 20, 2023, highlighting the increasing risks associated with cryptocurrency investments on social media platforms and urging the public to exercise extreme caution. The alert was prompted by a recent NPR story featuring 74-year-old Naum Lantsman, who lost his life savings to a … Read more The Vermont Department of Financial Regulation (DFR) issued an investor alert on July 20, 2023, highlighting the increasing risks associated with cryptocurrency investments on social media platforms and urging the public to exercise extreme caution. The alert was prompted by a recent NPR story featuring 74-year-old Naum Lantsman, who lost his life savings to a cryptocurrency scam. Lantsman was lured by a company called SpireBit on Instagram, which claimed to be…

TL;DR Breakdown The British government is considering stringent regulations on banking licenses to prevent debanking based on political beliefs. Proposed rules include a three-month notice before account termination and the right to appeal for affected individuals. Dispute between Nigel Farage and Coutts sparks government action against political discrimination. Description The British government is considering implementing stringent regulations on banking licenses that could lead to the revocation of a bank’s consent if it chooses to debank individuals based on their political beliefs. The anticipated new measures, set to be disclosed next week by the U.K. Treasury, aim to prevent discrimination and uphold the principles of … Read more The British government is considering implementing stringent regulations on banking licenses that could lead to the revocation of a bank’s consent if it chooses to debank individuals based on their political beliefs. The anticipated new measures, set to be disclosed next week by the U.K. Treasury, aim to prevent discrimination and uphold the principles of democracy. According to a recent report published in The Times on July 20, the proposed regulations require banks…

TL;DR Breakdown CANSEE bill faces heavy opposition from crypto advocacy groups, sparking intense DeFi debate. CoinCenter and Blockchain Association denounce CANSEE as “unconstitutional” and harmful to free expression. The proposed bill holds developers accountable for criminal activity, raising concerns about stifling innovation. Description The Crypto-Asset National Security Enhancement and Enforcement Act (CANSEE) has drawn heavy condemnation from prominent crypto advocacy organizations, igniting a fierce debate over the future of decentralized finance (DeFi). Proposed by Senators Jack Reed (D-CT), Mark Warner (D-VA), Mike Rounds (R-KS), and Mitt Romney (R-UT) with bipartisan support, the measure seeks to impose strict controls … Read more The Crypto-Asset National Security Enhancement and Enforcement Act (CANSEE) has drawn heavy condemnation from prominent crypto advocacy organizations, igniting a fierce debate over the future of decentralized finance (DeFi). Proposed by Senators Jack Reed (D-CT), Mark Warner (D-VA), Mike Rounds (R-KS), and Mitt Romney (R-UT) with bipartisan support, the measure seeks to impose strict controls on DeFi participants and platform operators. Leading the charge against the bill, CoinCenter, an influential crypto advocacy group, and its executive director, Jerry Brito,…

TL;DR Breakdown OpenSea, a leading NFT marketplace, introduces “Deals,” a new feature enabling direct peer-to-peer NFT swaps. Traders can trade NFTs and wrapped ether (WETH), enhancing their collections and avoiding risky transactions through third-party platforms. Deals are powered by OpenSea’s advanced NFT trading platform, Seaport, and are introduced amid competition with Blur’s zero-fee marketplace. Description OpenSea, the prominent Non-Fungible Token (NFT) marketplace, has introduced a novel peer-to-peer trading mechanism named “Deals”. Announced yesterday, the feature is intended to enrich user trading experience by adding a new layer of transactional freedom to the platform. It important to note that Deals empowers traders to engage in peer-to-peer NFT swaps, strengthening their collections … Read more OpenSea, the prominent Non-Fungible Token (NFT) marketplace, has introduced a novel peer-to-peer trading mechanism named “Deals”. Announced yesterday, the feature is intended to enrich user trading experience by adding a new layer of transactional freedom to the platform. It important to note that Deals empowers traders to engage in peer-to-peer NFT swaps, strengthening their collections and establishing direct connections with fellow collectors. With the aim of fostering…

TL;DR Breakdown Solana has had 100% uptime since February 25, a full quarter without an outage Solana network upgrades include smooth 1.14 release, high-demand handling, and NFT state compression Solana co-founder Anatoly Yakovenko: Outages are the biggest challenge for them and the number one priority for the network Description Solana Foundation has released its network performance report showing that it has had a 100% uptime since February, a major improvement compared to last year’s outages. The network was only down for approximately 19 hours in February. The foundation notes that it has improved the network in the first half of 2023, which they measured … Read more Solana Foundation has released its network performance report showing that it has had a 100% uptime since February, a major improvement compared to last year’s outages. The network was only down for approximately 19 hours in February. The foundation notes that it has improved the network in the first half of 2023, which they measured and analyzed through uptime and the ratio of non-voting-to-voting transactions. Solana’s network has improved immensely  Solana has experienced…

TL;DR Breakdown US House Republicans introduce the Financial Innovation and Technology for the 21st Century Act to create a regulatory framework for digital assets, addressing specific risks associated with various activities. The bill grants CFTC jurisdiction over digital commodities clarifies SEC’s role and emphasizes decentralization as a key criterion for digital asset classification. Description On July 20, Republican members of the United States House Agriculture and Financial Services Committees introduced a groundbreaking 212-page bill called the “Financial Innovation and Technology for the 21st Century Act.” This joint effort between the two committees aims to create a robust regulatory framework for digital assets. The proposed legislation is a response to … Read more On July 20, Republican members of the United States House Agriculture and Financial Services Committees introduced a groundbreaking 212-page bill called the “Financial Innovation and Technology for the 21st Century Act.” This joint effort between the two committees aims to create a robust regulatory framework for digital assets. The proposed legislation is a response to the increasing prominence of cryptocurrencies and other digital assets in the financial landscape….

TL;DR Breakdown Terraform Labs faces fraud allegations by the SEC for an unregistered securities offering involving TerraUSD and Luna tokens. The company seeks access to FTX wallets through subpoenas to find evidence of short sellers’ involvement and defend against the collapse of its stablecoins. Description Terraform Labs, the blockchain company at the center of an ongoing fraud case brought forth by the U.S. Securities and Exchange Commission (SEC), is making headlines once again for its unconventional defense strategy. Seeking to counter the SEC’s allegations of conducting an unregistered securities offering through the issuance of TerraUSD and Luna tokens, Terraform Labs … Read more Terraform Labs, the blockchain company at the center of an ongoing fraud case brought forth by the U.S. Securities and Exchange Commission (SEC), is making headlines once again for its unconventional defense strategy. Seeking to counter the SEC’s allegations of conducting an unregistered securities offering through the issuance of TerraUSD and Luna tokens, Terraform Labs has set its sights on accessing crucial information from the now-bankrupt FTX crypto exchange. Contents hide 1 Terraform Labs Requests Subpoena of…