XRP Ledger Set for Upgrade to Address NFT Challenges and Enhance Security

In a groundbreaking development for the Ripple (XRP) community, a new upgrade for the XRP Ledger (XRPL) is on the horizon. The “fixNFTokenRemint” amendment has passed the required consensus target and is now set to enter the 14-day activation countdown period, with an ETA of November 27. This amendment aims to address the challenges associated […]

Opyn Undergoes Leadership Change Amid Regulatory Pressure

Opyn, a prominent options protocol in the decentralized finance (DeFi) space, is undergoing a significant leadership change in response to regulatory actions by the Commodity Futures Trading Commission (CFTC). Co-founders Zubin Koticha and Alexis Gauba have decided to step down following allegations of registration failures and non-compliance issues. In their place, Andrew Leone, formerly the […]

Crypto.com’s Dubai Entity Receives VASP License, Boosting Dubai’s Position as a Global Hub for Virtual Assets

Crypto.com’s Dubai entity, CRO DAX Middle East FZE, has obtained a Virtual Assets Service Provider (VASP) License from Dubai’s Virtual Assets Regulatory Authority (VARA). This license allows Crypto.com’s Dubai exchange to engage in specific crypto services. This milestone signifies a significant step for Crypto.com in offering regulated digital asset services and solidifies Dubai’s position as […]

Aave Resumes Operations After Addressing Security Vulnerabilities

Aave, the decentralized lending protocol, has resolved security vulnerabilities and resumed its operations. The Community Guardian has unpaused Aave V3 markets, indicating that the issues have been resolved. A vulnerability affecting lending markets on Ethereum and other blockchains was discovered on November 4, prompting Aave DAO to temporarily disable the stable rate borrowing feature. Aave […]

Cryptocurrency Industry Opposes Proposed Tax Regulations, Citing Threat to Decentralized Finance

The cryptocurrency industry is pushing back against proposed regulations that would require more entities to disclose digital currency transactions. The US Treasury Department released draft guidelines in August aimed at addressing challenges related to reporting and taxing cryptocurrency transactions. Critics argue that these measures would hinder the broader crypto market and decentralized finance, raising constitutional […]

US Court Approves Protective Order in SEC vs. Binance Lawsuit

A significant development has occurred in the ongoing legal battle between the US Securities and Exchange Commission (SEC) and Binance entities, including CEO Changpeng Zhao. The US court has approved a protective order that governs the production, use, and disclosure of information and materials related to the SEC vs. Binance lawsuit. This protective order aims […]

Ripple Executive Advocates for Technology-Neutral Approach to Cryptocurrency Regulation

A Ripple executive has emphasized the importance of adopting a technology-neutral approach to cryptocurrency regulation. Navin Gupta, managing director of South Asia, Middle East, and North Africa at Ripple, believes that regulations should be based on the activity being conducted rather than the specific technology being used. He argues that whether a transaction occurs on […]

Australian Tax Office Clarifies Tax Treatment of DeFi and Crypto Wrapping

The Australian Taxation Office (ATO) has clarified its stance on the capital gains tax (CGT) treatment of decentralized finance (DeFi) and the wrapping of crypto tokens. The ATO has emphasized its commitment to taxing Australians on capital gains during the wrapping and unwrapping processes. According to the ATO, the wrapped token is not considered the […]

Tether’s Aggressive Minting Raises Concerns and Sparks Speculation in Cryptocurrency Market

Tether, a major stablecoin issuer, has recently increased its minting of USDT tokens, issuing a significant amount of new tokens in just one month. This aggressive expansion strategy has raised eyebrows in the market, with 4 billion USDT being minted, including 1 billion on Tron and 1 billion on Ethereum. Tether has also burned USDT […]

Goldman Sachs and BNP Paribas Lead Funding Round for Blockchain Payments Firm Fnality

Global investment bank Goldman Sachs and French universal bank BNP Paribas have led a new funding round for blockchain-based wholesale payments firm Fnality. The company has raised £77.7 million ($95.09 million) in its second round of funding, with participation from settlement houses Euroclear and Depository Trust and Clearing Corporation, as well as other investors such […]