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Binance looks to the UK for regulation amid US crypto crackdown
Binance seeks regulation in the U.K. amid a U.S. crackdown on cryptocurrencies as its chief strategy officer acknowledges the challenging business environment in the United States.
Crypto exchange Binance has acknowledged that a crackdown on cryptocurrencies has made conducting business in the United States challenging. It is now looking to be regulated in the United Kingdom.
During the Financial Times’ Crypto and Digital Assets Summit, Patrick Hillmann, Binance’s chief strategy officer, said that the past six months have been quite confusing in the United States. He added that the recent actions taken by the U.S. Securities and Exchange Commission (SEC) against rival exchange Coinbase for allegedly violating securities laws are an indication of how “the U.S. right now is in this strange place.“
While Hillmann acknowledged the “very confusing” environment in the U.S., he expressed the company’s commitment to doing “everything we possibly can” to be regulated in the United Kingdom.
This is a change of tone from his earlier statement that the current crackdown on crypto had made it difficult to do business in the United States. Binance has previously clashed with U.K. regulators over its failure to provide essential information about its business activity, which led regulators to suggest the exchange was unregulatable. Read More
Texas House of Representatives Seeks To Extend Bill of Rights to Crypto With New Amendment Proposal
The Texas House of Representatives is looking to pass a new amendment extending the Bill of Rights to crypto assets.
According to Tom Glass, a former House candidate, the House has voted 139-2 to add a new clause to the Texas Bill of Rights that would stifle the government from infringing upon the right to own, hold, and use mutually agreed upon mediums of exchange, including digital assets.
The new provision reads,
“The right of the people to own, hold, and use a mutually agreed upon medium of exchange, including cash, coin, bullion, digital currency, or scrip, when trading and contracting for goods and services shall not be infringed. No government shall prohibit or encumber ownership or holding of any form or any amount of money or other currency.” Read More
Warner Music Singapore ushers in new era of digital content through Web3 gaming world
Warner Music Singapore and Affyn, a Singapore-based Web3 company, have partnered to create new opportunities for artists and audiences in the gaming industry.
The deal aims to motivate and inspire creators to explore the endless possibilities of the Web3 gaming world, and provide everyone with unique experiences that have never been seen before.
As part of the partnership, Warner Music Singapore will produce a customized song featuring bilingual artist J.M3 (pronounced Jamie) for Affyn’s new game. In addition, she will also be performing as a main character via an avatar in the game’s trailer, creating an immersive audio-visual experience for fans.
Commenting on the alliance, Lucaz Lee, CEO of Affyn said: “This collaboration with Warner Music Singapore represents a new era of digital content consumption, leveraging Web3 technology to support musicians, artists, creators, and collaborators in delivering an even more immersive and interactive experience to our audiences. We look forward to the exciting possibilities that this partnership will bring to our platform and to the wider entertainment industry.” Read More
MetaMask To Roll Out ETH Purchases Via PayPal
Decentralized application (dApp) provider and crypto wallet MetaMask has announced a partnership with payment service provider PayPal.
The partnership will allow MetaMask users in the United States to purchase ETH via PayPal and purchase, sell, and hold ETH directly in their wallets.
With the announcement, MetaMask claims to have become the first Web 3.0 wallet to offer ETH transaction options via PayPal. The collaboration allows MetaMask users based in the United States of America to use PayPal as their preferred payment method when purchasing ETH. The integration will also allow users to transfer ETH from PayPal to MetaMask. This is a significant boost when it comes to promoting the self-custody of crypto assets. In a press release, MetaMask stated,
“MetaMask is the first web3 wallet to enable users to buy ETH using PayPal, a leader in the digital payment space. In addition to purchasing ETH directly, the integration also supports the transfer of ETH from PayPal to MetaMask, aiding in more self-custody adoption.”
According to reports, PayPal partnered with MetaMask’s parent company, ConsenSys, in December 2022. Back then, the parties announced that the partnership would help users to purchase cryptocurrencies and explore the larger Web 3.0 ecosystem. Read More
Phase Two of the Markethive internal wallet is complete, a considerable milestone for the company and the Markethive community. The impending release of the wallet is a pivot point for Markethive to secure its future as a completely decentralized social media broadcasting and marketing platform the world so desperately needs for these significant times.
The Markethive wallet is not just an ordinary wallet: It’s a transactional interface that services and keeps track of all your accounting and transactions, including your loans to Markethive and interest paid by Markethive to you via the ILP.
With Phase Two now in operation, you can access and set up your personal requirements and view your status in The Vault, Hive Rank, Staking, KYC Application, ILP Report, payments, and Markethive Credit threshold and balance. Plus, you can now transfer Markethive Credits to other members within Markethive.
Note that full access to all of the Markethive systems requires complete KYC documentation and an Entrepreneur One membership. The Markethive platform, with its general newsfeed, is free to use; however, the marketing systems and aspects thereof within Markethive will be limited, including Hivecoin transactional activity and micropayments of MHV.
Once the Markethive wallet is fully operational and launched, the Premium Upgrade will be introduced, which offers additional features and benefits to achieve a significant presence online for your marketing efforts and business growth, especially with the upcoming unique dashboard interface. It will be beyond anything else out there today. Read More
How to protect your identity online
Strategies like using strong passwords, enabling 2FA, avoiding phishing, using VPNs, keeping software up-to-date and using reputable antivirus may help one against online fraud.
In today’s digital age, protecting one’s identity online is more crucial than ever. The internet has facilitated communication and information sharing between people, but it has also facilitated identity theft and the theft of personal data by hackers. This article will go through some practical strategies for protecting your online identity. Read More
Ethereum’s Beacon Chain updated after finality issues
Ethereum core developers released patches for Prysm Labs and Teku clients in response to a Beacon Chain issue preventing block finalization.
Ethereum core developers rolled out patches for Prysm Labs and Teku clients in response to two Beacon Chain finality issues in 24 hours. The Beacon Chain serves as the consensus layer for the Ethereum network.
On May 11, Ethereum developers reported that the Beacon Chain was experiencing problems confirming transactions. Although new blocks could be proposed, an unknown issue prevented their finalization. The outage lasted around 25 minutes. A similar issue occurred on May 12, preventing block finalization for over an hour.
Finality was unable to be reached for three and eight epochs, said the Ethereum Foundation in a statement shared by an Ethereum consultant on Twitter. The issue “appears to have been caused by high load on some of the Consensus Layers clients, which in turn was caused by an exceptional scenario.”
Although the network was unable to finalize, live and end users were able to transact on the network thanks to client diversity, “as not all client implementations were affected by this exceptional scenario.” Read More
U.S. Chamber of Commerce Lines Up in Support of Coinbase Amid Exchange’s Push for Regulatory Clarity From SEC
The U.S. Chamber of Commerce is supporting Coinbase’s efforts to secure regulatory guidance on crypto assets from the U.S. Securities and Exchange Commission (SEC).
The top US crypto exchange filed a motion in court in April to compel the SEC to respond to an earlier petition from the company requesting guidance for the digital asset industry.
Coinbase first submitted the petition for rulemaking last July but has yet to hear a “yes” or “no” answer to the request.
This week, the Chamber of Commerce submitted a legal document known as an amicus brief outlining its support of Coinbase’s petition. The Chamber says the SEC’s regulatory approach to crypto has subverted the “basic tenets of due process, administrative law, and good governance.” Read More
Eigen What? How EigenLayer Is Putting $34B in Staked Ethereum Back to Work
A new re-staking protocol is making the rounds on Crypto Twitter, but what is EigenLayer and what does it mean for Ethereum?
Crypto Twitter has been awash the past few weeks with talk of a strange new protocol called EigenLayer.
Some are going as far as calling it the next Ethereum Meta, while others are already whipping up speculative airdrop guides. And at least one person is doing God’s work, helping us all pronounce the project’s name.
So, what in the hell is EigenLayer? Well, think of it as being like blockchain security-as-a-service.
Instead of having to gather funds, hardware, and a series of validators to keep your newly-launched crypto project from getting 51% attacked (or worse), EigenLayer wants to put staked Ethereum back to work for you.
Here’s how it works. Read More
Disclaimer: These articles are provided for informational purposes only. They are not offered or intended to be used as legal, tax, investment, financial, or any other advice.
