DeCenter – Blockchain and Bitcoin

2022-10-24 14:35:11 UAE attracts blockchain firms in Asia, Europe with financing and residency

The United Arab Emirates (UAE) is pulling all strings in its attempt to entice technology firms from Asia and Europe with an array of exciting offers. Part of the Gulf nation’s tools in its arsenal includes speedy business licensing and giving employees attractive residency options.

A total of 300 firms are currently on the radar of the UAE administrators, with Thani Al Zeyoudi, Minister of State for Foreign Trade, noting that nearly 40 companies were in the advanced stages of a possible relocation. Al Zeyoudi told reporters that the government is currently eyeing a timeline of 24 months, with 2024 chosen as a tentative date to achieve its aims.

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2022-10-24 09:24:04 Web3 to inject $1.1T in India’s GDP by 2032, following 37x growth since 2020

The US-India Strategic Partnership Forum (USISPF) estimated that “Web3 can add $1.1 trillion of new economic value to the Indian GDP in the next 10 years.”

Moreover, the study highlighted that investments in Indian Web3 startups mimicked crypto adoption by racking up a 37x growth over the last two years. The explosive Web3 growth in the country is further supported by an increasing talent pool, which makes India’s demand-supply gap the lowest when compared to the United States, China and the United Kingdom.

In addition, India ranks first when it comes to reskilling in newer technologies, which is considered paramount in emerging technologies such as Web3 and blockchain.

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2022-10-21 12:34:38 Turkish authorities seize $40 million crypto in illegal betting

The Ankara Chief Public Prosecutor's Office issued a detention order for 46 suspects in an illegal betting investigation carried out in eight provinces yesterday. Some 46 suspects were detained in a simultaneous operation in Ankara, Batman, Bingöl, Kayseri, Kırıkkale, Muş, Van and Yozgat, and $40 million of cryptocurrency was confiscated.

It was determined that the suspects mediated the transfer of money obtained from illegal betting, and sent the money collected in their accounts to the cryptocurrency asset accounts of the criminal organization, including Halil Falyalı, his wife and the casino manager. The statement noted that Halil Falyalı was a Turkish Cypriot tycoon and was at the center of allegations regarding his leading role in the illegal betting businesses that he ran on the island, along with money laundering claims. On Feb. 8, 2022, he was shot dead in an assault in the Turkish Republic of Northern Cyprus' (TRNC) city of Girne (Kyrenia), near his home.

A net amount of TL 2.5 billion worth of cryptocurrency was transferred to the cryptocurrency accounts of a group of 11 people, including Falyalı and his wife, sending TL 118,000 with 148 transactions.

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2022-10-18 21:16:03 EU Commission warns crypto mining may be halted in energy emergency

The European Commission announced that the European Union’s member states must prepare to halt crypto mining “in case there is a need for load shedding in the electricity systems”, according to an action plan on digitalizing the EU's energy system released on Tuesday.

In the longer term, the commission also wants EU members to look into ending current tax breaks and subsidies for proof-of-work miners.

The European Commission also announced its proposal to introduce a rating system for cryptocurrencies according to environmental impact within the European Union.

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2022-10-17 11:48:32 South Korea to Implement Blockchain-Based Digital IDs in 2024

South Korean government is reportedly planning to introduce blockchain-based digital identification (ID) to boost the country’s economic growth.

The report notes that the new technology is set to see daylight in 2024, with more than 45 million citizens expected to adopt the technology within two years.

It is reported that for the tech-savvy nation, this technology would help tremendously, as increasingly more people are working from home and doing cashless transactions. By having digital IDs, citizens would save time transferring money, voting, or filling out documents for government benefits.

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2022-10-14 07:52:23 Elon Musk is being investigated by federal authorities over his conduct in his $44 billion takeover deal for Twitter Inc (TWTR.N).

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2022-10-03 15:20:32 Kim Kardashian Settles With SEC, Pays $1.26M for Unlawfully Promoting EthereumMax

The SEC announced on October 3 reaching an agreement with Kardashian, in which she will pay $1.26 million in penalties, disgorgement, and interest for failing to disclose the payment she received for promoting the token.

The TV personality will also cooperate with the agency as the investigation continues. According to the Commission, Kardashian received $250,000 to promote the EMAX tokens on her Instagram page, which, as of today, has more than 330 million followers.

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2022-09-29 08:56:52 Circle Enables USDC Interoperability for Developers with the Launch of Cross-Chain Transfer Protocol.

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2022-09-26 08:20:42 Interpol has issued a red notice for Do Kwon, requesting law enforcement agencies worldwide to locate and arrest the Terraform Labs founder whose blockchain startup collapsed earlier this year and wiped out investors’ $40 billion.

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2022-09-20 14:41:37 Nasdaq is preparing to launch an institutional crypto custody service

Equity exchange operator Nasdaq has been plotting a move into institutional crypto custody service, according to several people briefed by the company.

The firm, which operates markets in U.S. and global equities, is no stranger to the cryptocurrency market, having served as a provider of market surveillance technology to cryptocurrency exchange venues since at least 2018. In February 2021, the exchange announced the debut of the Hashdex Nasdaq Crypto Index ETF, which is based on its own index.

Historically, the firm has opted to provide technology to crypto market participants versus operating a market itself to compete with the likes of Coinbase and FTX.

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