Crypto California Club

Taiwan’s Financial Supervisory Commission Set to Regulate Country’s Virtual Assets Industry

Taiwan’s Financial Supervisory Commission is set to be announced as the body that will oversee and regulate the virtual asset industry. According to a report, the collapse of crypto exchanges like FTX prompted Taiwanese officials to seek ways of protecting users against similar events should they recur.

According to Taiwanese government officials, the country’s financial sector regulator — the Financial Supervisory Commission (FSC) — is set to become the body overseeing and regulating the country’s virtual currency industry. As per a CNA report, an announcement to this effect is set to be made in late March or early April.

Explaining the rationale behind the government’s decision to appoint FSC as the body that oversees virtual assets in Taiwan, the report suggested that FTX’s collapse played a part in convincing officials to look for ways of protecting users in the event of another major collapse.

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UAE Hospitality Brand Stella Stays Now Accepts Crypto

A hospitality brand from the United Arab Emirates(UAE), Stella Stays, has announced that its clients can now pay for services with cryptocurrencies. Clients can pay with bitcoin, ethereum, and 35 more digital assets.

The UAE-based hospitality brand Stella Stays now accepts cryptocurrencies via its e-commerce platform, a report has said. According to the report, the company’s guests can now pay with bitcoin, ethereum, and 35 other cryptocurrencies.

Following the announcement, the company’s CEO and co-founder, Mohannad Zikra, is quoted in one report explaining why Stella Stays has decided to accept digital currencies.

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Crypto Startups Secure $201.4M in Funding: Futureverse and RISC Zero Lead the Way

Last week, venture capital and investment firms invested $201.4 million in crypto projects, with metaverse startup Futureverse and RISC Zero receiving the largest fundraises.

Eleven companies recently announced funding rounds, with two standout raises. Metaverse startup Futureverse secured an impressive $54 million from its Series A funding round, led by 10T Holdings and Ripple Labs.

At the same time, RISC Zero, a provider of zero-knowledge-proof tools for developers, raised $40 million in a Series A round.

Futureverse has a clear mission: to empower developers and users by providing a collaborative ecosystem that consolidates 11 metaverse infrastructure and content companies.

Futureverse intends to use the funds from the funding round to enhance its comprehensive technology, which includes the Futureverse Platform and The Root Network, its blockchain.

Apart from RISC Zero, the funding round featured five other infrastructure sector companies: Cosmic Wire, Manta Network, Echooo Wallet, Side Protocol, and Over Protocol.

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Taiwan’s Financial Supervisory Commission Set to Regulate Country’s Virtual Assets Industry

Taiwan’s Financial Supervisory Commission is set to be announced as the body that will oversee and regulate the virtual asset industry. According to a report, the collapse of crypto exchanges like FTX prompted Taiwanese officials to seek ways of protecting users against similar events should they recur.

According to Taiwanese government officials, the country’s financial sector regulator — the Financial Supervisory Commission (FSC) — is set to become the body overseeing and regulating the country’s virtual currency industry. As per a CNA report, an announcement to this effect is set to be made in late March or early April.

Explaining the rationale behind the government’s decision to appoint FSC as the body that oversees virtual assets in Taiwan, the report suggested that FTX’s collapse played a part in convincing officials to look for ways of protecting users in the event of another major collapse.

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South African Crypto Premium Surge After Kraken Abruptly Starts Blocking Deposits by Local Residents

The premium on crypto assets listed on South African exchanges briefly surged to 3.5% after Kraken’s abruptly started blocking deposits from users based in the African country. Some South African crypto experts have linked Kraken’s decision to the Financial Action Task Force’s recent addition of the African country to its greylist.

According to a report, the U.S.-based crypto exchange Kraken’s recent decision to stop accepting deposits from South African nationals briefly saw the premium on crypto assets like bitcoin surge to 3.5%. Before Kraken’s announcement, the premium or arbitrage, which is the gap between prices of crypto assets on global exchanges and South African exchanges, had reportedly ranged between 0.7% and 1.5%.

As explained in a report published by Moneyweb, Kraken made the sudden decision to block South African deposits after its banking partner placed the African country on its anti-laundering blacklist.

Meanwhile, the report by Moneyweb suggested that Kraken’s abrupt decision had impacted many local crypto arbitrage market participants. However, according to the report, market participants such as crypto arbitrage and forex specialists like Future Forex have since found alternatives.

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9 Asian Countries Discuss De-Dollarization Measures in Meeting Hosted by Iran

Top officials from nine Asian countries, members of the Asian Clearing Union (ACU), have gathered in Tehran for their annual meeting, where de-dollarization takes center stage.

In addition to the officials from Bangladesh, Bhutan, India, Iran, Maldives, Myanmar, Nepal, Pakistan, and Sri Lanka, Russia’s central bank governor and officials from Belarus and Afghanistan also attended the meeting.

Commenting on the role of the U.S. dollar in the world economy and a growing number of countries shifting away from using the USD in trade settlement.

Mokhber noted that over the past few decades, the “Weaponization of the dollar” has compelled countries to distance themselves from reliance on the USD in order to mitigate the potential impact of possible future sanctions.

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Visa has a competitor: digital yuan (e-CNY)

For decades, Visa has been the exclusive provider of electronic payments at the world's largest sporting event. However, at the Beijing Games this year, Visa is forced to share the championship with China's new digital currency, e-CNY.

It is known that China is at the forefront of digitization of payments, largely thanks to the popular mobile networks Alipay and WeChat, which are managed by Chinese Internet giants Ant Group Co. and Tencent Holdings Ltd.

At the previous Olympic Games, cash and Visa cards were the only permitted forms of payment, although the former were used less frequently at sports venues after the 2004 Olympic Games in Athens.

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Sony Files Patent to Use NFT Tech for Keeping Track of in-Game Digital Assets; Introduces Moments Market

Electronics giant Sony has filed a patent that describes the usage of NFT (non-fungible token) and blockchain technology to track the history of in-game digital assets. The filing describes the usage of this tech in order to record the story of modifications and ownership of the digital assets from a given game.

Sony has filed a patent to use NFT and decentralized ledger technology in order to record the movements and changes undergone by in-game digital assets. The filing, titled “Tracking Unique In-Game Digital Assets Using Tokens on a Distributed Ledger,” introduced in July 2021, describes a system that mints a token to follow the history of each one of these assets in a given environment.

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CertiK says SMS is the 'most vulnerable' form of 2FA in use.

The level of security provided by SMS pales in comparison to authenticators or physical security keys, CertiK's Jesse Leclere says in an interview.

Using SMS as a form of two-factor authentication has always been popular among crypto enthusiasts.

After all, many users are already trading their cryptos or managing social pages on their phones, so why not simply use SMS to verify when accessing sensitive financial content?

Unfortunately, con artists have lately caught on to exploiting the wealth buried under this layer of security via SIM-swapping, or the process of rerouting a person's SIM card to a phone that is in possession of a hacker.

In many jurisdictions worldwide, telecom employees won't ask for government ID, facial identification, or social security numbers to handle a simple porting request.

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Playing and claiming rewards from the P2E game Bears Rumble ICO

Bears Rumble ICO is an exciting P2E game in which we will have to play as a bear and with the help of alien technology to overcome the game obstacles by completing quests. The project has CERTIK certification.

Later game assets will turn into NFTs, which we will be able to exchange and sell, with 20% of our tokens to drop our players.

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XRP Crypto Scam Prevented as YouTube Assists in Recovering Hacked Channel

YouTube has intervened to prevent an XRP cryptocurrency scam from being promoted on the hacked popular YouTube channel DidYouKnowGaming.

Last week, the team behind DidYouKnowGaming warned on Twitter that they have lost access to their YouTube channel, which has 2.4 million subscribers, after their Google account was hacked.

YouTube was quick to act, asking the YouTuber for certain information in a bid to help them regain access to their account.

"We'll need to get some quick info from you & then we'll connect you w/ a specialist team who helps restore account access," the official Twitter account of YouTube said in response to DidYouKnowGaming.

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Crypto Startups Secure $201.4M in Funding: Futureverse and RISC Zero Lead the Way

Last week, venture capital and investment firms invested $201.4 million in crypto projects, with metaverse startup Futureverse and RISC Zero receiving the largest fundraises.

Eleven companies recently announced funding rounds, with two standout raises. Metaverse startup Futureverse secured an impressive $54 million from its Series A funding round, led by 10T Holdings and Ripple Labs.

At the same time, RISC Zero, a provider of zero-knowledge-proof tools for developers, raised $40 million in a Series A round.

Futureverse has a clear mission: to empower developers and users by providing a collaborative ecosystem that consolidates 11 metaverse infrastructure and content companies.

Futureverse intends to use the funds from the funding round to enhance its comprehensive technology, which includes the Futureverse Platform and The Root Network, its blockchain.

Apart from RISC Zero, the funding round featured five other infrastructure sector companies: Cosmic Wire, Manta Network, Echooo Wallet, Side Protocol, and Over Protocol.

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Polygon to help fight NFT scams with Web3 infra protocol partnership.

Polygon partners with Wakweli, a Web3 infrastructure protocol that issues certificates of authenticity for NFTs to certify originality.

Wakweli, a Web3 infrastructure protocol that issues certificates of authenticity for nonfungible tokens (NFT), has officially partnered with layer-2 scaling platform Polygon to make NFT authentication possible.

The partnership between Polygon and Wakweli means all digital assets on Polygon will be compatible with Wakweli’s certification system. According to the announcement, every NFT project holder on the Polygon chain can request authenticity certificates for each asset.

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UAE Hospitality Brand Stella Stays Now Accepts Crypto

A hospitality brand from the United Arab Emirates(UAE), Stella Stays, has announced that its clients can now pay for services with cryptocurrencies. Clients can pay with bitcoin, ethereum, and 35 more digital assets.

The UAE-based hospitality brand Stella Stays now accepts cryptocurrencies via its e-commerce platform, a report has said. According to the report, the company’s guests can now pay with bitcoin, ethereum, and 35 other cryptocurrencies.

Following the announcement, the company’s CEO and co-founder, Mohannad Zikra, is quoted in one report explaining why Stella Stays has decided to accept digital currencies.

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In the last cycle, Metaverse was huge, but the technology wasn’t ready. Just based on the hype and value, the tokens $MANA and $SAND went to the moon, even though Decentraland and Sandbox had almost no users and had very poor business plans and technology.

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NFTs Have Real-world Use Cases. Not All Are Worthwhile.

Nemus, an NFT mint tied to Amazon rainforest conservation, is in hot water after a Brazilian prosecutor announced an investigation into the company’s ownership of Amazon land.

Nemus’ CEO Flavio De Meira Penna has multiple entrepreneurial ventures focused on rainforest preservation in Brazil.

Nemus claims to own 100,000 acres of Amazon rainforest and hopes to purchase more with funds from its NFT sales. The company did not respond to requests for verification that it owns the land.

Users can purchase NFTs representing plots of land on a map with the understanding that Nemus will protect the land and its indigenous residents.

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Ukrainian Steals Bitcoin From Russian Darknet Market, Donates to Charity

A Ukrainian living in the U.S. has reportedly hacked a major drug market on the Russian dark web, diverting some of its crypto proceeds. The man says he donated the digital cash stolen from the illicit website to an organization delivering humanitarian aid across his war-torn homeland.

Ukrainian-born cyber intelligence expert Alex Holden, who left Kyiv as a teenager in the 1980s and now lives in Mequon, Wisconsin, claims he has hacked into Solaris, one of Russia’s largest online drug markets, Forbes informs in a report.

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