THE LATEST CRYPTO NEWS FROM CNS Abu Dhabi to back the gro | Crypto Never Sleeps Broad

THE LATEST CRYPTO NEWS FROM CNS

Abu Dhabi to back the growth of Web3 startups with $2B

Abu Dhabi's technology ecosystem, Hub71, has announced a new initiative called "Hub71+ Digital Assets," with a capital backing of over US$2 billion. This project aims to advance Web3-based innovations, such as blockchain technology and metaverse applications. The initiative aspires to provide Web3 startups with access to a range of programs, and initiatives, as well as, corporate, government, and investment partners in both global markets and the UAE.

This project aims to advance Web3-based innovations, such as blockchain technology and metaverse applications. It aspires to provide Web3 startups with access to a range of programs, and initiatives, as well as, corporate, government, and investment partners in both global markets and the UAE.

https://cointelegraph.com/news/abu-dhabi-to-back-the-growth-of-web3-startups-with-2b


SEC proposes tougher rules as part of its crypto custody crackdown

A five-member panel of the United States Securities Exchange Commission (SEC) has voted 4-1 in favor of a proposal that may make it more difficult for cryptocurrency firms to serve as digital asset custodians in the future.

The proposal, which is yet to be officially approved by the SEC, recommends amendments to the “2009 Custody Rule” will apply to custodians of “all assets” including cryptocurrencies, according to a Feb. 15 statement from SEC Chairman Gary Gensler.

https://cointelegraph.com/news/sec-proposes-tougher-rules-as-part-of-its-crypto-custody-crackdown


Mango Markets exploiter seeks to keep disputed funds paid as ‘bug bounty’

The alleged exploiter of the decentralized finance protocol Mango Markets, Avraham Eisenberg, is seeking to keep his share of crypto gained from his so-called “highly profitable trading strategy.”

On Feb. 15, attorneys for Eisenberg filed a motion in a New York District Court objecting to a lawsuit from Mango that asks for $47 million in damages plus interest starting from the time of Eisenberg’s October attack, whidrained around $117 million from the protocol.

https://cointelegraph.com/news/mango-markets-exploiter-seeks-to-keep-disputed-funds-paid-as-bug-bounty


EC launches blockchain regulatory sandbox for 20 projects annually through 2026

The European Commission announced the launch of the European Blockchain Regulatory Sandbox on Feb. 15. The sandbox will provide a space for regulatory dialog for 20 projects per year through 2026.

The sandbox was first announced in 2020 and is being facilitated by a number of private firms that won tenders in 2022. Funding will come from the Digital Europe Programme. Projects will be chosen by an independent panel of academic experts on a competitive basis from public and private sector use cases of “Blockchain and other Distributed Ledger Technologies.”

https://cointelegraph.com/news/ec-launches-blockchain-regulatory-sandbox-for-20-projects-annually-through-2026