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Crypto News Summary: Bitcoin Mining Difficulty (Re)Breaks Record, NFT Can Be Property in Singapore, Ed Sheeran’s Hacker Imprisoned

05/12/2022
07/12/2022
08/12/2022

MetaVentures Bangkok 2022

Bangkok, Thailand
14/12/2022
27/02/2023

ICBM Expo

Dubai, UAE
03/03/2023
Crypto Fraudsters Preying On Japanese Social Media & Chat App
Source: AdobeStock / Myst

Get your each day, bite-sized digest of cryptoasset and blockchain-related information – investigating the tales flying underneath the radar of as we speak’s crypto information.
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Mining information

  • Bitcoin (BTC) mining issue, or the measure of how laborious it’s to compete for mining rewards, went up 3.44% as we speak to 36.84 T, hitting one other all-time excessive. This follows a serious leap seen through the earlier adjustment: two weeks in the past, the problem elevated by 13.55% to 35.61 T, surpassing the excessive of 32.05 T recorded in mid-September. 

Regulation information

  • The Singapore High Court has dominated that non-fungible tokens (NFTs) will be thought of property, provided that they meet 4 authorized necessities, together with being distinguishable from different related property. Per the judgment, NFTs “have, in current instances, emerged as a extremely sought-after collectors’ merchandise. They are, to attract an analogy, the equal of a Rolex Daytona, or a F.P. Journe, to a horology fanatic.” The ruling was issued as a proof for the injunction the choose granted in May stopping any potential sale of a Bored Ape NFT. 
  • South Korea’s Financial Service Commission has introduced new guidelines per which the crypto holders who’ve greater than ₩100 million ($70,000) in crypto will likely be monitored to stop cash laundering and different illicit exercise, news1 reported. “Customers with giant digital asset holdings are at larger threat of cash laundering,” it quoted a press launch as saying. It added that stablecoins particularly are probably for use for prison functions. 
  • Hong Kong’s authorities is reportedly engaged on a crypto invoice that will set clear insurance policies to assist the market’s growth, which is predicted to be handed in the Legislative Council in the primary quarter of 2023, in accordance to China Fund News, citing Liang Hanjing, director of monetary know-how at InvestHK, the town’s authorities division for overseas direct investments. According to the director, the federal government goals to “establish a licensing system for virtual asset service providers (VASPs).” 

Legal information

  • Adrian Kwiatkowski, a hacker from England who stole two unreleased songs by Ed Sheeran and bought them on the darkish net in change for BTC, has been sentenced to 18 months in jail, in accordance to the BBC. The 23-year-old managed to pay money for the songs after hacking the performers’ digital accounts, and had made £131,000 ($148,170), it mentioned.
  • A choose has denied a movement to dismiss wire fraud and cash laundering prices towards Nate Chastain, former head of product on the OpenSea NFT market. Therefore, his trial will proceed. 

Career information

  • Brokerage app Robinhood is hiring sanctions investigators for its finance crimes compliance unit. The place requires two-plus years of expertise working in monetary crimes investigation, and one-plus years investigating cryptocurrency transactions, whereas “Chainalysis expertise” is most popular, although not a requirement. 

Payments information

  • Digital asset safety and asset switch platform Fireblocks introduced as we speak the general public launch of its Payments Engine, which the press launch says is a brand new suite of instruments that can allow cost service suppliers (PSPs) to supply a blockchain-agnostic, end-to-end resolution for retailers, entrepreneurs, and creators to just accept, handle, and settle digital asset cost transactions throughout any geography. Early pilot companion Checkout.com has facilitated greater than $1 billion in digital asset service provider settlements via their resolution this 12 months, and Fireblocks additionally welcomed a service provider acquirer FIS into its community of companions utilizing the Payments Engine. 

Investment information

  • Spanish cryptocurrency change Bit2Me has acquired blockchain and crypto-focused software program growth firm Dekalabs for an undisclosed quantity. According to the press launch, Dekalabs will keep its autonomy and proceed to develop initiatives for different corporations.

Blockchain information

  • Major international financial institution Santander has reportedly launched testing of a blockchain-based tokenization platform for transferring possession of used automobiles in Brazil, Cointelegraph reported. The platform is designed to automate the method of transferring property registration by deploying sensible contracts based mostly on supply versus cost (DVP). 

Stablecoin information

  • Blockchain growth home Laguna Labs has introduced the launch of its testnet for Nuon: a decentralized and overcollateralized “flatcoin”, the worth of which is pegged to the price of dwelling, based mostly on each day, on-chain inflation knowledge, mentioned the press launch. Users can now check the Nuon minting mechanism on the protocol’s first testnet.

Compiled by Coinbold

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