marumaruNFT: Revolutionizing Cabaret Clubs and Host Clubs with Dynamic NFTs and Market Competition

NFTs represent unique and indivisible items, backed by blockchain technology, certifying their originality, scarcity, and authenticity. Whether it’s digital art, music, videos, virtual real estate, or collectible items, NFTs have become a powerful tool for artists, creators, collectors, and investors alike, unlocking new opportunities and experiences in the digital space.

In the dynamic and ever-evolving world of cryptocurrency and NFTs, a groundbreaking project is on the rise, captivating the attention of cabaret club enthusiasts and investors alike. Introducing marumaruNFT, the one-of-a-kind NFT marketplace tailored exclusively for cabaret club hostess and hosts. With its unique approach, marumaruNFT aims to reshape the cabaret industry, open new revenue streams, and create a dynamic ecosystem for its users.

Japan – In an exciting announcement, the marumaruNFT team revealed their innovative platform set to launch in August. This groundbreaking marketplace will enable cabaret clubs and host clubs to tokenize their cast members through NFTs, unlocking an array of opportunities for both businesses and customers.

What Sets marumaruNFT Apart

At the core of marumaruNFT’s appeal lies its unprecedented success, boasting a token price that has skyrocketed to an impressive 200 times its initial presale value. The project’s momentum can be attributed to its solid business foundation, providing a tangible revenue stream through NFT trading commissions rather than relying on fundraising schemes.

This revenue structure prevents the company from falling prey to ponzi schemes, as is the case with many other tokens.

The platform’s strategic positioning as the first and only NFT marketplace specialized in cabaret club hostess and hosts sets it apart from other players in the market. This unique position gives marumaruNFT a competitive advantage, positioning it as a pioneer in the industry and paving the way for potential market dominance.

Furthermore, the pre-existing customer base within the MARU economic zone creates an organic pool of NFT purchasers. As customers of cabarets and host clubs, these individuals are not only avid supporters of their favorite cast members and hosts but are also inclined to invest in NFTs as an alternative or complementary means of support.

DynamicNFT: The Power of Evolution

marumaruNFT distinguishes itself through its pioneering implementation of DynamicNFT technology, a groundbreaking approach that infuses NFTs with dynamic and interactive elements. Unlike conventional static NFTs, which remain fixed in appearance and information, DynamicNFTs possess the remarkable ability to evolve based on pre-established conditions.

By way of illustration, the platform issues membership cards in the form of DynamicNFTs, transforming them into dynamic instruments that can showcase an array of changing features. For example, these cards can dynamically display special course offerings, expiration dates, and exclusive announcements, adapting in real-time to cater to users’ evolving needs and preferences. This infusion of practicality and genuine value elevates the NFT experience, captivating both users and collectors with an enthralling and ever-evolving digital ownership journey.

Market Competition and Fierce Transactions

marumaruNFT introduces transaction price rankings, igniting a competitive atmosphere among cast members and hosts, which in turn fuels increased transactions and price fluctuations. This dynamic marketplace fosters a healthy spirit of rivalry, generating mutual benefits for both cabaret establishments and their talented performers.

By implementing the transaction price rankings, marumaruNFT motivates cast members and hosts to showcase their best performances, aiming to secure higher rankings and attract more customers. As a result, the increased competition drives a surge in transactions, leading to enhanced visibility and value for the NFTs associated with each performer. This virtuous cycle of healthy competition bolsters the overall cabaret industry, elevating its appeal to customers and providing performers with enhanced recognition and financial rewards.

Roadmap to the Future

marumaruNFT’s forward-thinking roadmap charts a course encompassing two essential ventures: the NFT marketplace and the revolutionary Metaverse. As the NFT marketplace continues to gain momentum, the Metaverse initiative holds the promise of introducing users to an innovative and futuristic virtual world, potentially transforming the dynamics of NFT interactions and digital asset experiences.

At its core, the NFT marketplace empowers cabaret clubs and host clubs to tokenize their cast members seamlessly through NFTs, opening up new revenue streams and fostering healthy competition among performers. Positioned as a pioneer in this unique market, marumaruNFT is poised to solidify its market presence and leverage the growing interest in cabaret-focused NFTs.

Beyond this remarkable venture lies the Metaverse, a visionary project with the potential to redefine ownership and interactions in the digital realm. With NFTs playing a central role in this immersive virtual world, the Metaverse holds exciting prospects for reshaping the way users engage with digital assets, presenting an enthralling journey that pushes the boundaries of creativity and engagement. As marumaruNFT’s roadmap unfolds, it ushers in a transformative era that could reshape the future of NFT interactions within the dynamic expanse of the Metaverse.

Exciting Prospects for Listing

Although the proprietary token MARU is currently listed on PancakeSwap,

With the project gathering steam, a number of prominent centralized exchanges have shown keen interest in listing marumaruNFT. The team is currently actively evaluating these opportunities, and the outlook appears positive for a potential listing by the end of this year.

The growing attention from reputable exchanges is a testament to marumaruNFT’s promising potential within the NFT marketplace. As the team carefully weighs the options and navigates through this exciting phase, investors and enthusiasts eagerly anticipate the possibilities that lie ahead with the prospective listing, providing an exciting prospect for the project’s growth and visibility in the cryptocurrency ecosystem.

Final Recap

marumaruNFT is leading the charge in revolutionizing the cabaret industry through its NFT marketplace and visionary Metaverse venture. With its pioneering use of DynamicNFT technology, the platform offers a practical and valuable experience for users while fostering healthy competition among performers.

The project’s promising outlook for listing on prominent cryptocurrency exchanges further underscores its potential for growth and recognition within the digital ecosystem. As marumaruNFT’s roadmap unfolds, it paves the way for an exciting and transformative journey, reshaping the future of NFT interactions and digital ownership experiences.

HP：https://www.maru.supply/

Platform *Under development：https://www.marumarunft.com/

Safety：https://youtu.be/lkv4w4zyNCM

Twitter：https://twitter.com/marumaruNFT

Founder’s Twitter：https://twitter.com/koichi_koh

WhitePaper：https://docs.google.com/document/d/1xTa7uca3I3bHB_uiJzBRWSS6JW4eQ5AHSvoQzqF1Kl4/edit

 

 

 

 

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from Bitcoin News

Japan Blockchain Association Urges Tokyo to Overhaul Crypto Tax System

An industry organization in Japan has suggested that the government should reform taxation rules for crypto assets and transactions. Its members are convinced that the current tax regulations hinder growth of the Web3 economy in the country and discourage taxpayers from holding and using cryptocurrencies.

Japan Government Asked to Amend Tax Laws for Crypto Gains and Transactions

The Japan Blockchain Association (JBA) has submitted a request to the government in Tokyo to revise the taxation regime for virtual currencies. The organization led by co-founder and CEO of Japanese crypto exchange Bitflyer, Yuzo Kano, insists that the proposed changes would allow more domestic companies to enter the Web3 sector.

The JBA is calling for a review of the taxation system for crypto assets, which it says is hindering the growth of the Web3 business in Japan, as well as for the development of an environment in which citizens can own and use digital assets, the Japanese crypto news outlet Coinpost reported Saturday.

Last month, Japan’s National Tax Agency (NTA) amended some corporate tax rules to relieve firms from the taxation of year-end unrealized gains from cryptocurrencies they have issued. The association now wants unrealized profits from tokens issued by third parties to be exempt, too, saying this burden is one of the barriers preventing entry into the Web3 market.

“If the end-of-term unrealized gain tax is abolished, companies will no longer need to sell the tokens they hold for tax purposes … Under the current tax system, selling tokens to pay taxes could cause the price of the tokens to fall, which could hinder the growth of the token-based economy,” the JBA explained.

The organization also urges for changing the taxation method for individual crypto asset transactions to separate self-assessment taxation with a flat tax rate of 20%. In addition to that, the association suggests that losses should be carried forward and deducted in the three years following the year in which they occurred, reducing the tax.

JBA quoted data from the Japan Crypto Asset Trading Association which shows that the number of people opening crypto asset trading accounts in Japan continues to grow. As of April 2023, they were approximately 6.8 million. It also noted that almost 44% of the respondents in its own survey said they would more than double their investments if they changed to separate self-assessment taxation.

The industry body also wants the Japanese government to eliminate income taxation for profits made when crypto assets are exchanged. The JBA believes these amendments would increase the number of crypto users in the country as well as the amounts invested in crypto assets, and ultimately lead to higher tax revenues for Japan.

Do you think the Japanese government will accept the JBA’s proposals for crypto tax reform? Tell us in the comments section below.

from Bitcoin News

Cato Institute Experts: Dollarization ‘Protects Ordinary People’s Purchasing Power’

According to Cato Institute experts, full dollarization of the Argentine economy helps to protect “ordinary people’s purchasing power” from corrupt politicians and “often subservient—or simply incompetent—central bankers.” The experts said the loss of seigniorage should be seen as “an infinitesimal price to pay for the advantages of dollarization.”

Fighting Inflation With Dollarization

Argentina should consider dollarizing its economy because this “protects ordinary people’s purchasing power” from corrupt politicians and “often subservient—or simply incompetent—central bankers,” authors of the latest Cato Institute blog post. The authors, Daniel Raisbeck, a policy analyst and the research associate Gabriela Calderon de Burgos, argue that only full dollarization can help Argentina control inflation which currently hovers above 100%.

To support their argument, the two experts point to the inflation rates in South America’s three fully dollarized countries which are namely Panama, Ecuador, and El Salvador. According to the blog post, the dollarized trio, unlike many other countries from the region, “did not see double-digit inflation in the aftermath of the Covid‐​19 pandemic.”

The call by the two authors adds to the growing list of experts and economists who endorse the full dollarization of the South American country’s economy. As previously reported by Bitcoin.com News, Javier Milei, a presidential candidate in Argentina’s upcoming elections, has also indicated his readiness to dollarize should he win.

Dollarization and the Loss of Monetary Autonomy

However, opponents of dollarization often cite the loss of monetary autonomy as one of the reasons why inflation-hit countries must avoid replacing their currencies with the greenback. Others have highlighted the United States’ alleged weaponization of the dollar as one example of why countries with collapsing currencies must reject dollarization.

Nevertheless, in their blog post, Raisbeck and Calderon de Burgos use Panama’s experiences since it dollarized in 1999 to push back against some of the arguments used by critics of dollarization. For instance, the authors argued that an analysis of Panama’s dollarization experiences by another Cato Institute expert Juan Luis Moreno‐​Villalaz had shown that banks in the country were (and are still) able to allocate resources without major restrictions. Since dollarization, the banks were also able to adjust their liquidity in accordance with the local demand for credit or money, the authors added.

“[The] changes in the money supply—which arise from the interplay between local factors and the specific conditions of global credit markets— and not the Federal Reserve, determine Panama’s monetary policy. Fed policy affects Panama only to the same extent that it does the rest of the world,” Raisbeck and Calderon de Burgos concluded.

Concerning the loss of seigniorage — the profit earned by a government when it issues currency — the two said this must be seen as “an infinitesimal price to pay for the advantages of dollarization.” Similarly, the lack of large dollar reserves should not be an excuse for not dollarizing, the authors added.

What are your thoughts on this story? Let us know what you think in the comments section below.

from Bitcoin News

Crypto Mining Crackdown in Malaysia: Sarawak Police and Energy Plant Dismantle Illegal Mining Operation

A covert cryptocurrency mining operation, suspected of electricity theft, was uncovered in a Marina Square shophouse in Miri, Malaysia. Representatives from the Sarawak police and Sarawak Energy plant revealed that the successful operation was made possible by a tip-off from the public.

Malaysia’s Sarawak Energy and Police Uncover Illegal Crypto Mining Camp in Miri

The state utility company, Sarawak Energy, and the local police department announced the dismantling of an alleged unauthorized crypto mining camp set up in Miri, Sarawak, Malaysia. Authorities captured roughly 34 application-specific integrated circuit (ASIC) miners and their associated connections.

“All the equipment used for the mining operation, including the direct tapping cables and servers, were seized. A police report has been lodged and an investigation is currently underway,” Sarawak Energy stated.

Compared to other global regions, electricity rates in Malaysia are relatively low. As such, Sarawak Energy reported a surge in electricity theft incidents over the last few years. This specific case is estimated to have cost the energy plant RM6,000 per month ($1,317).

“Electricity theft is a serious offence under Section 33(5) of the Electricity Ordinance, which carries a penalty of up to RM100,000 and/or five years’ jail if found guilty,” warned Sarawak Energy. Recently, Malaysian officials cracked down on three additional power theft schemes connected to crypto mines in Senadin.

Allegedly, 137 ASIC devices were seized from these sites while law enforcement continues their investigation. In February 2021, Malaysian authorities apprehended seven individuals for pilfering $2.15 million worth of electricity to mine Bitcoin. In July 2021, Malaysian officials demolished over $1.2 million in Bitcoin mining equipment after confiscating them for illegal operation.

That same month, officials in Miri City, Sarawak seized 1,069 rigs from miners accused of stealing electricity for their operations. A report released on July 27 indicates that Sarawak Energy possesses the necessary tools and meter inspection teams to detect such thefts, including underground direct tapping and tampered meters.

The report detailed that the energy company further noted that it also relies on public tips and encourages locals to continue reporting any suspicious activity to the Sarawak Energy customer care center.

What do you think about the mining operation bust in Miri? Share your thoughts and opinions about this subject in the comments section below.

from Bitcoin News

Latam Insights — Argentina to Complete IMF Payment With Chinese Yuan, Bolivia Also Using China’s Currency for International Settlements

Welcome to Latam Insights, a compendium of Latin America’s most relevant crypto and economic news during the last week. In this issue, Argentina is likely to settle part of a payment to the International Monetary Fund (IMF) using the Chinese yuan, Bolivia is already making payments using the Chinese yuan, and Sazmining announced the launch of mining operations in Paraguay.

Argentina to Complete IMF Payments With Chinese Yuan

The government of Argentina will complete part of a disbursement to the International Monetary Fund (IMF) using the Chinese yuan. According to sources linked to Economy Minister Sergio Massa, the $3.4 billion that must be settled this July will be made using “CAF funds, with yuan, and other sources of financing.”

The Argentine government recently obtained a “bridge loan” from the CAF (the Latam Development Bank) of $1 billion, effectively getting indebted to pay for its outstanding debt with the IMF.

If completed, this would not be the first time that Argentina relies on the resources made available by the Chinese government to settle part of its duties with the IMF. In June, the Argentine Central Bank disbursed $2.7 billion to the international institution using $1 billion in Chinese yuan, and the remaining number was paid using Special Drawing Rights (SDRs).

In August, Argentina will receive a loan of $7.5 billion from the IMF to intervene “in the case of turbulence situations in the national market,” per Massa’s statements.

Central Bank of Bolivia Announces Operations With Chinese Yuan

The Central Bank of Bolivia recently announced that it was already conducting international settlements using the Chinese yuan, even without having a Chinese bank branch in its territory. The announcement came from Economy Minister Marcelo Montenegro, who acknowledged that the bank was already paying for international transactions with the Chinese currency without giving further details.

Montenegro stated:

It is clear that sometimes it is not necessary to have a bank to carry out operations, but obviously having a Chinese bank or one close to the region can also facilitate operations much more smoothly.

In May, Bolivian President Luis Arce directed the central bank to research if the uses that Brazil and Argentina were giving to the Chinese currency could apply to Bolivia, as the country has been facing a dollar crunch.

Sazmining Announces Launch of Mining Operations in Paraguay

Sazmining, a U.S.-based renewable Bitcoin mining hosting company, announced the construction of a new facility in Paraguay near the Itaipu Dam. The facility, which will host user-owned ASICs, is projected to start operations in September.

Sazmining’s interest in Paraguay is due to its cheap energy costs and the renewable source of its energy, coming from hydro-electrical origins.

Kent Halliburton, President and COO of Sazmining, stated:

Sazmining’s larger goals are focused on fostering a more sustainable and forward-looking future by investing in electrical infrastructure that will continue to serve Paraguay for generations.

To follow all the latest developments in crypto and the economy in Latin America, sign up for our Latam newsletter below.

What do you think about this week’s Latam Insights report? Tell us in the comment section below.

from Bitcoin News

US Representatives Bilirakis and Schakowsky Inquire About Apple’s Policies on Blockchain and NFTs

Representatives Gus Bilirakis and Jan Schakowsky, part of the House Innovation, Data, and Commerce Subcommittee, have sent a letter to Apple requiring information and documents regarding Apple’s iOS Appstore policies on blockchain, non-fungible tokens (NFTs), and distributed ledger technologies. The representatives believe Apple’s policies might “limit innovation and American technology leadership” in these areas.

Bilirakis and Schakowsky Inquire About Apple’s Blockchain Policies

Representatives Gus Bilirakis and Jan Schakowsky have sent a letter to Tim Cook, CEO of Apple, requiring information about the rules on the iOS App Store regarding emergent technologies such as blockchain, non-fungible tokens (NFTs), and other distributed ledger technologies.

In the letter, they express their concern about Apple’s walled garden policies’ effect on the development of apps using these tools, which might hurt innovation from American companies in this area. Furthermore, they also state Apple appears to have used “its App Store guidelines to increase its own profits and reduce the utility of apps in blockchains, NFTs, and other blockchain-related technology.”

To illustrate this point, Bilirakis and Schakowsky remember Apple’s position while enforcing its policies against Coinbase Wallet in December. At the time, Apple disabled NFT transactions in the Ios version of the app, requiring blockchain fee payments to go through their in-app purchase system to collect 30% of each transaction.

Coinbase Wallet rejected this rule due to feasibility problems. At the time, it declared:

For anyone who understands how NFTs and blockchains work, this is clearly not possible. Apple’s proprietary in-app purchase system does not support crypto so we couldn’t comply even if we tried.

This 30% cut was part of the legal battle between Apple and Epic Games when the latter tried to sidestep the payment of this fee by offering direct purchases of Fortnite’s V-bucks, the game’s official token, through means different from Apple’s system. The anti-payment steering rules issue is still being litigated.

The representatives also touched on the case of Axie Infinity, a popular play-to-earn game that had to launch a limited version of its app on Ios. This “lite” version excluded core NFT functionality and is still unavailable for U.S.-based users.

Finally, Bilirakis and Schakowsky stated:

It is essential that Congress fully understand the App Store guidelines and the extent to which these guidelines limit innovation and impact American technological leadership. We want to create a level playing field within the industry so that American ingenuity can continue to thrive.

Apple’s Tight Crypto Rules

Apple announced this set of tight blockchain rules in October, detailing that apps “may not use their own mechanisms to unlock content or functionality,” including crypto and NFTs. Also, all of the NFT sales offered by these apps might go through Apple’s in-app purchase system, so long as these don’t present “buttons, external links, or other calls to action that direct customers to purchasing mechanisms other than in-app purchase.”

What do you think about Apple’s blockchain and NFT policies? Tell us in the comments section below.

from Bitcoin News

US Second in World by Debt per Citizen, Rare Bitcoin Block Reward Awakens, BRICS Summit Invites — Week in Review

A recent study has shown that Singapore, the U.S., and Japan rank highest in the world by debt per citizen, according to United Nations data. In other news, a rare 2010 Bitcoin block reward has awakened after 13 years of dormancy, and the BRICS economic bloc has invited 69 leaders to its August summit. This and much more, just below, in the Bitcoin.com News Week in Review.

Singapore, US With Highest Public Debt per Capita, China Most Indebted in BRICS: Study

Singapore, the United States and Japan top the global chart in terms of sovereign debt per capita, according to research based on U.N. data. The burden of government debt for every American is 10 times heavier than that for a Chinese citizen, according to the study.

Read More

Rare 2010 Bitcoin Block Reward Stirs After 13 Years of Dormancy

On July 24, 2023, a block reward from 2010 was transferred for the first time in 13 years, marking this month’s first expenditure of dormant bitcoin from that year. So far this year, a total of nine such block rewards from the 2010 era have been spent, resulting in the transfer of 450 bitcoins.

Read More

BRICS Invites 69 Leaders to August Summit — Western Countries Omitted

The BRICS economic bloc has invited 69 leaders to its upcoming summit, including all African heads of state and the political heads of major Global South bodies. More than 40 countries have expressed interest to join the BRICS group, with 22 nations already having submitted official applications. “We’ve never had such a large outreach,” said South Africa’s diplomat in charge of BRICS relations.

Read More

Decoding Ripple’s Ruling: A Potential Tsunami for the SEC

In a groundbreaking decision earlier this month, the Southern District Court of New York determined that institutional sales of XRP conducted directly by Ripple constitute securities sales. However, intriguingly, XRP sales on secondary markets, specifically crypto exchanges, do not. A verdict that has sparked a ripple, pun intended, in the crypto space, potentially creating waves of disarray for the U.S. Securities and Exchange Commission (SEC).

Read More

What are your thoughts on this week’s stories? Be sure to let us know in the comments section below.

from Bitcoin News

LBank Exchange Will List DBear Coin (DBC) on July 31, 2023

PRESS RELEASE. Road Town, BVI, July 30, 2023 – LBank Exchange, a global digital asset trading platform, will list DBear Coin (DBC) on July 31, 2023. For all users of LBank Exchange, the DBC/USDT trading pair will be officially available for trading at 6:00 UTC on July 31, 2023.

DBear Coin (DBC) is a lifestyle Blockchain-Commerce for the MZ generation, characterized by Web3.0, Metaverse, and customized NFT. All DBC platforms are interconnected like a universe, enabling users to learn, play, and shop. Its native token, DBC, will be listed on LBank Exchange at 6:00 UTC on July 31, 2023, with the goal of expanding its global footprint and supporting the realization of its forward-thinking objectives.

Introducing DBear Coin

DBear Coin (DBC) is a lifestyle Blockchain-Commerce for the MZ generation, characterized by Web3.0, Metaverse, and customized NFT. All DBC platforms are interconnected like a universe, enabling users to learn, play, and shop. DBC serves as both a membership point and a medium of exchange within the D:Bear universe, facilitated through the DMNC NRT card, while also acting as a rewarding mechanism. Leading the BDC project is Man-won Chung, the former CEO of SK Telecom, a company with a market capitalization of $8 billion and the creator of the widely successful OKcashbag point system, which boasts 21 million users.

The Dbear Universe project aims to provide a comprehensive “Character-Based Lifestyle Commerce” experience for the MZ (Millennial and Gen Z) generation. By becoming a member of the Dbear Universe, individuals will receive a Dbear Member’s NFT Card (DMNC), granting them access to various lifestyle platforms within the Dbear ecosystem. Holding the NFT card allows members to enjoy exclusive consumer rewards and benefits. B-Commerce (Blockchain Commerce) is at the core of the project, introducing an innovative consumer benefit NFT model. Dbear Universe stands out as the sole NFT commerce initiative in the rapidly growing global character market. Through attractive items and features, members can create their unique NFTs through the MCM (Members Creating & Minting) process, potentially increasing the value of their digital assets. Additionally, Dbear Universe offers access keys to BEARMANSION, a metaverse within the Dbear ecosystem.

The project envisions utilizing innovative technologies and ideas to improve the quality of life for humanity, fostering a richer and happier family life. Its mission is to suggest common interests and hobbies for parents and children to share and empathize with, while building a user-friendly and accessible system for everyone. Additionally, it aims to reduce financial stress in households through an effective reward system and integrate blockchain into daily life, creating an encompassing ecosystem. The project emphasizes practical liquidity, freedom of choice, and rational decision-making. It strives to establish a fair hierarchy based on levels of interest and participation and ensures sustainability through proactive system management and investment in development.

About DBC Token

The main mission of D-Bear Coin (DBC) is to establish a stable B-Commerce Economy within the D-Bear Universe ecosystem. The project team aims to implement inflation-deflation prevention policies to ensure the stable function of DBC as a currency and minimize significant price fluctuations. Through platform development, marketing, and supply policies, the project aims to increase the holding value of DBC progressively, providing enhanced lifestyle opportunities for members of the D-Bear Universe.

Based on ERC20, DBC has a total supply of 4 billion (i.e. 4,000,000,000). The token distribution consists of 15% for the team, 10% for marketing, 7.5% for promotion and others, 30% for Member Rewards, and 18.75% each for LMNC SWAP and Point SWAP. It will be listed on LBank Exchange at 6:00 UTC on July 31, 2023, investors who are interested in DBC can easily buy and sell it on LBank Exchange by then. The listing of DBC token on LBank Exchange will undoubtedly help it further expand its business and draw more attention in the market.

Learn More about DBC Token:

Official Website: https://www.dbear.io/

Contract: https://etherscan.io/token/0xe1C6785660eB3C1b2744BfF7504dF5F6ad6276E3

About LBank

LBank is one of the top crypto exchanges, established in 2015. It offers specialized financial derivatives, expert asset management services, and safe crypto trading to its users. The platform holds over 9 million users from more than 210 regions across the world. LBank is a cutting-edge growing platform that ensures the integrity of users’ funds and aims to contribute to the global adoption of cryptocurrencies.

Start Trading Now: lbank.com

Community & Social Media:

l Telegram

l Twitter

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l LinkedIn

l Instagram

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Press contact:

[email protected]

Business Contact:

LBK Blockchain Co. Limited

LBank Exchange

[email protected]

[email protected]

 

 

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This is a press release. Readers should do their own due diligence before taking any actions related to the promoted company or any of its affiliates or services. Bitcoin.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the press release.

from Bitcoin News

Crypto․com Granted Registration Approval in the Netherlands

Digital asset exchange Crypto․com has been approved for registration as a crypto service provider in the Netherlands. The regulatory nod comes after a review of its business operations and compliance with the Dutch anti-money laundering legislation, the company pointed out.

Trading Platform Crypto․com Adds Another Regulatory Approval in Europe

Cryptocurrency exchange Crypto․com has secured an approval for registration with the Dutch central bank as a provider of crypto services in the Netherlands. The confirmation follows a comprehensive review of its compliance with the country’s Money Laundering and Terrorist Financing (Prevention) Act, the company noted in a press release.

Crypto․com’s CEO Kris Marszalek described the registration approval from De Nederlandsche Bank (DNB) as a significant milestone for the company’s business and a testament to its commitment to compliance. He was also quoted as stating:

Collaborating with regulators to responsibly advance the crypto and blockchain industry is of paramount importance to Crypto.com.

Marszalek further emphasized that the exchange looks forward to continuing to work with the DNB and other regulators around the world. With the Dutch registration, the trading platform adds another approval from authorities in Europe amid increased regulatory uncertainty and scrutiny for the industry in many jurisdictions.

The Singapore-based crypto exchange has already obtained its license as a Major Payment Institution (MPI) for digital token payments, e-money issuance, account issuance, and cross-border and domestic money transfer services from the city-state’s monetary authority. It has registrations and authorizations in the U.S., Australia, Dubai, and South Korea.

On the Old Continent, Crypto․com has received registration as a Digital Asset Service Provider (DASP) from the Financial Markets Authority (AMF) of France and registration approval as a crypto asset business from the U.K.’s Financial Conduct Authority (FCA). The crypto firm is registered as a Virtual Asset Service Provider (VASP) in Spain as well and has registrations in Italy, Greece and Cyprus.

Crypto․com’s approval in the Netherlands comes after the decision of to pull out of the Dutch market after failing to obtain registration as a crypto service provider. Sayings it wants to focus on fewer regulated entities in Europe, the world’s largest exchange for digital assets also applied for deregistration in Cyprus, canceled its U.K. authorization, and withdrew its license applications in Germany and Austria. In the past months, Binance has been under increased pressure from regulators around the world.

The EU is yet to implement its package of comprehensive regulations for the sector, the Markets in Crypto Assets (MiCA) law. A provisional agreement on the legislation was reached in June 2022, EU lawmakers voted to approve it in April of this year and the EU Council adopted the new rules in May. However, their Union-wide implementation is expected to take another 18 months.

What future do you see for cryptocurrency exchanges operating in Europe? Share your thoughts on the subject in the comments section below.

from Bitcoin News

Another US Bank Collapses: Heartland Tri-State Bank Closed by Regulator

Heartland Tri-State Bank has become the latest bank in the U.S. to fail. The Kansas banking regulator closed the bank and appointed the Federal Deposit Insurance Corporation (FDIC) as the receiver on Friday.

Regulator Shuts Down Heartland Tri-State Bank

A regional bank in the U.S., Heartland Tri-State Bank, was closed by the Kansas Office of the State Bank Commissioner on Friday. The regulator subsequently named the Federal Deposit Insurance Corporation (FDIC) as the receiver. The FDIC announced:

To protect depositors, the FDIC entered into a purchase and assumption agreement with Dream First Bank, National Association, of Syracuse, Kansas, to assume all of the deposits of Heartland Tri-State Bank.

The FDIC explained that Heartland Tri-State Bank had approximately $139 million in total assets and $130 million in total deposits as of March 31. In addition to assuming all of the failed bank deposits, Dream First Bank, National Association, “agreed to purchase essentially all of the failed bank’s assets,” the FDIC detailed.

The regulator added that the four branches of Heartland Tri-State Bank will reopen as branches of Dream First Bank, National Association, on Monday, under normal business hours.

Several banks have failed in the U.S. this year. On March 10, Silicon Valley Bank was closed by the California Department of Financial Protection & Innovation. On March 12, Signature Bank was closed by the New York State Department of Financial Services. On May 1, First Republic Bank was closed by the California Department of Financial Protection and Innovation. Moreover, Silvergate Bank announced voluntary liquidation.

Multiple people have foreseen an increase in regional bank failures as the Federal Reserve persists with its interest rate hikes. This week, the Fed raised interest rates by 25 basis points. Rich Dad Poor Dad author Robert Kiyosaki warned in April that regional banks are being wiped out because of Fed policies. Economist Peter Schiff stated earlier this month that all banks will fail and people will suffer massive losses as the banking crisis unfolds.

Do you think more banks will fail in the U.S. this year? Let us know in the comments section below.

from Bitcoin News

World’s Largest Web3 Event TOKEN2049 Singapore Hits 300 Sponsor Milestone, Announces New Headline Speakers

PRESS RELEASE. SINGAPORE — 30 July 2023 — TOKEN2049, Asia’s premier Web3 and crypto conference, announced a slate of prolific title sponsors and headline speakers for its upcoming Singapore edition. With just 50 days to go in the countdown, TOKEN2049 will take place from 13-14 September 2023 at Marina Bay Sands, ahead of the Formula 1 Singapore Grand Prix 2023 race weekend.

Heralding a record-breaking repertoire of over 300 exhibitors, TOKEN2049 is set to welcome over 10,000 attendees with over 80 percent coming from overseas, making it the industry’s largest international gathering of the year. Congregating key business leaders from traditional finance and big tech to crypto-native entrepreneurs and builders as well as policy-makers, TOKEN2049 continues to cement its world-class status as the global premier Web3 event.

Panels, keynotes, and fireside chats at this year’s TOKEN2049 will address a myriad of topics including the changing global regulatory landscape, the convergence of crypto and AI, blockchain scaling, the intersection of Web3 gaming and the metaverse, the institutionalisation of digital assets, Web3 infrastructure, multi-chain network and protocol interoperability amongst many more critical themes.

Additional speakers at this year’s conference include amongst others Cameron and Tyler Winklevoss, Co-Founders of Gemini; Jeremy Allaire, Co-Founder and CEO of Circle; Jenny Johnson, CEO of Franklin Templeton; Daniel Alegre, CEO of Yuga Labs; Richard Teng, Head of Regional Markets at Binance; Daniel Ricciardo and Pierre Gasly, Formula One Drivers and Web3 enthusiasts from Scuderia AlphaTauri and BWT Alpine Formula One respectively.

“The East/West Crypto Flippening is upon us and we are excited to be a part of TOKEN2049 as the conference brings together builders, leaders, and thinkers from across the crypto industry,” said Cameron Winklevoss, Co-Founder of Gemini.

Commemorating the latest milestone, Alex Fiskum, Co-Founder of TOKEN2049 said: “We’re proud to present an ever-growing sensational speaker and sponsor line-up for this year’s edition of TOKEN2049, with broad international media coverage. The feedback has been unanimous – Asia is a driving force of innovation in crypto and Web3, and TOKEN2049 is the prime showcase where the global ecosystem will converge. Overall event traction has been tremendous with hundreds of side events expected throughout TOKEN2049 Week. We are also seeing that hotels across the city are already selling out as the anticipation for TOKEN2049 grows. We’re incredibly excited.”

TOKEN2049’s top-flight roster of title sponsors includes leading crypto exchange and Web3 technology company OKX; the gateway to ethics-first Shariah-compliant finance in the digital age, Islamic Coin; TRON DAO, empowering decentralized commerce and community for every human on the planet; Polkadot, the blockspace ecosystem for boundless innovation; DAO-led web3 ecosystem Mantle; world’s largest crypto copy trading platform Bitget; structured liquid staking and asset tracking protocol Tranchess; Fireblocks, an enterprise platform to manage digital asset operations and build innovative businesses on the blockchain; global financial technology firm Circle Internet Financial (Circle); top cryptocurrency exchange platform KuCoin; global digital asset market maker and multi-stage Web3 investment firm DWF Labs; and high-performance public blockchain Klaytn.

PR Newswire is a community partner of TOKEN2049 Singapore.

For more information and continued updates on TOKEN2049 Singapore, please visit: https://www.asia.token2049.com/

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Alex Fiskum, Co-Founder of TOKEN2049 is available for interview.

ABOUT TOKEN2049

TOKEN2049 is a premier Web3 event, organised annually in Singapore, where decision-makers in the global crypto ecosystem connect to exchange ideas, network, and shape the industry. TOKEN2049 is a global meeting place for entrepreneurs, institutions, industry insiders, investors, builders, and those with a strong interest in the crypto and blockchain industry.

Media Contact

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This is a press release. Readers should do their own due diligence before taking any actions related to the promoted company or any of its affiliates or services. Bitcoin.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the press release.

from Bitcoin News

Russian Official Says BRICS Currency Could Be Discussed at Upcoming Summit

Russia’s deputy prime minister has stated that the topic of a common BRICS currency may still be on the table at the economic bloc’s upcoming leaders’ summit. A total of 69 leaders, including all African heads of state, have already been invited to the August summit where de-dollarization will be among the key topics discussed.

Russian Official on BRICS Currency

Russian Deputy Prime Minister Alexei Overchuk stated in an interview with Russian news outlet Tass on the sidelines of the second Russia-Africa summit this week that the issue of creating a basket of BRICS currencies may be raised at the economic bloc’s upcoming summit that will take place from Aug. 22-24. The BRICS nations comprise Brazil, Russia, India, China, and South Africa.

The Russian official was quoted as saying:

The BRICS leaders will hold a meeting soon where they may touch upon the settlement system issue. Perhaps, the idea of creating a basket of currencies based on a certain payment unit will also be discussed.

“Perhaps the leaders will decide to task the relevant expert bodies with looking into the matter,” Overchuk added, emphasizing: “Clearly, it’s a very difficult issue.”

While the Russian deputy prime minister believes that the topic of a common BRICS currency could be discussed at the summit, South Africa’s diplomat in charge of BRICS relations, Anil Sooklal, has stated: “There’s never been talk of a BRICS currency, it’s not on the agenda.” South Africa is hosting the BRICS summit this year, and Sooklal is in charge of planning the agenda for the summit.

Moreover, Leslie Maasdorp, vice president and chief financial officer of the New Development Bank, also known as the BRICS Bank, recently clarified that the economic bloc has no immediate plan to launch a currency to compete with the U.S. dollar. Noting the distinction between de-dollarization efforts and the creation of a common BRICS currency, he stressed: “The development of anything alternative is indeed a medium to long-term ambition.” Both Maasdorp and Sooklal have stressed that the BRICS bloc is focusing on de-dollarization and encouraging the use of national currencies for trade settlements.

Furthermore, rumors abound that the BRICS group might unveil a gold-backed currency during the summit. Many people believe that a unified BRICS currency could erode the U.S. dollar’s status as the world’s dominant currency. Nevertheless, obstacles lie ahead. Russia’s central bank governor, for instance, has cautioned that a BRICS currency will require the consent of numerous parties, and she foresees potential challenges in its implementation.

The BRICS has drawn interest from over 40 countries seeking to join the group. According to Sooklal, 22 nations have already formally applied. Moreover, the diplomat has revealed that South Africa has invited 69 leaders to the summit, including all of the African heads of state and the leaders of major Global South bodies. However, he affirmed that no Western countries have been invited.

Do you think the subject of a common BRICS currency will be discussed at the economic bloc’s upcoming summit? Let us know in the comments section below.

from Bitcoin News

‘Community-Based IP’ — Yuga Labs CEO Describes Web3 Evolution of Licensing to Japanese Government Official

In a recent “fireside chat” with the deputy director of the Web3.0 Policy Office of Japan’s Ministry of Economy, Trade, and Industry, Yuga Labs CEO Daniel Alegre noted: “We’re not even in the first inning” of where Web3 “evolution” is going to go. During the interview with the politician, Alegre described new models of IP (intellectual property) that transcend national borders and break down barriers traditional IP models impose.

Bored Apes: A New Paradigm for IP

CEO of Yuga Labs Daniel Alegre recently sat down with deputy director of the Web3.0 Policy Office at Japan’s Ministry of Economy, Trade, and Industry to discuss the future of Web3 and product licensing, describing a new model of “community-based IP.”

Speaking to Waka Itagaki about the power of the Bored Ape Yacht Club global community at the Webx conference on Tuesday, Alegre described: “Whether it’s a Bored Ape brewing company, that the team introduced me to yesterday, or whether it’s new artists that want to create [gaming content] on their other side platform … it’s really creating and connecting culture on the blockchain, but at a global level.”

The executive, formerly COO of Activision Blizzard, went on to note that “Web3 brings creators and consumers and communities together, and they build these brands together,” emphasizing, “It’s a fundamental rethink of IP and IP rights.” Alegre detailed:

In a normal media environment, if you own IP, you license it very exclusively and for a very finite use case … when you buy a Bored Ape NFT, we are giving you an unlimited license to do with that IP what you want … If you want to start a restaurant chain, if you want to have a brewing company, if you want to create t-shirts that you want to sell, it enables that.

Alegre didn’t directly address one portion of Itagaki’s prompt when she asked “How are you planning to align with the government’s regulation?” He did, however, suggest a way for regulators to view Web3, noting: “And this is where I love your point of view from a government perspective — how do you think about enablement so that more people can actually leverage what Web3 can bring to bear.”

Animoca Rep and Other Speakers Share Similar Views on New, Decentralized Models of Business and Finance

Similar to Alegre’s enthusiasm for fresh ways of viewing intellectual property, later the same day, Evan Auyang of Animoca Brands also described a new way to look at competition in the marketplace, noting:

The whole point about this ecosystem … is that we’re trying to see if we can grow the pie bigger rather than dominating it ourselves, which is more Web2 thinking. If the pie grows bigger, then we will benefit … on the assets that we have at the same time.

In another talk at Webx, Ken Deeter, partner at crypto-focused VC fund Electric Capital in the United States, explained he was interested in defi as an extension of the Bitcoin ethos, which arose from a mistrust of central banks and traditional monetary policy. Like with the evolution in perspective on IP described by Alegre, Deeter and others at Webx expressed interest in setting up new models.

What do you think? Is Web3 leading a positive evolution away from outdated, coercive models of business, law, and finance, or is more regulation needed? Let us know in the comments section below.

from Bitcoin News

Double Standards in Finance: SBF’s Legal Troubles Spark Concerns

Cryptocurrencies and DeFi have shaken up the world of finance, but the spotlight on Sam Bankman-Fried (SBF), the mysterious FTX founder, has raised serious concerns about how the U.S. government handles financial regulation and fairness. SBF faces some serious accusations like misusing customer funds, market manipulation, insider trading, witness tampering, and money laundering. Some folks think he’s getting special treatment due to his connections and wealth.

The following opinion editorial was written by Bitcoin.com’s Business Development Manager Ben Friedman.

Double Standards

One of the main issues raised is the double standard between powerful folks like SBF and regular Americans like you and me. If any average Joe faced the same charges, they might not have the same cushy treatment during legal proceedings. It raises questions about the impact of connections and money when it comes to justice.

Another point of contention is the alleged conflicts of interest between government organizations and authorities, which could potentially hinder a thorough investigation. SBF’s close ties to the Securities and Exchange Commission (SEC), coupled with substantial political donations to prominent figures like President Joe Biden and Senator Elizabeth Warren, have led to speculations about the impact of these connections on the decision-making process. Additionally, concerns have been raised about political contributions made by SBF’s parents and their potential influence on regulatory scrutiny of FTX.

It’s hard not to notice the different enforcement priorities when it comes to cryptocurrency exchanges. While exchanges like Binance and Coinbase faced regulatory action, FTX seems to have dodged similar consequences despite the serious allegations against its founder. This inconsistency makes us wonder if all crypto exchanges are held to the same standards.

SBF’s high-powered legal team has been accused of using legal maneuvers to obstruct and delay investigations. This strategy has raised concerns about the fairness and effectiveness of the legal process when faced with powerful adversaries who can afford top-tier representation.

The recent request for SBF’s incarceration by the prosecution may signal a shift in the handling of his case, which some say is too little too late given the gravity of the charges.

The issue at hand is not merely about one individual or exchange; it goes to the heart of financial regulation and accountability in the United States. If influential figures like SBF can navigate the legal system with relative ease, it erodes public trust in the fairness and impartiality of the financial regulatory framework.

In comparison to cases involving individuals without powerful connections, such as the controversial examples of Hunter Biden and Jeffrey Epstein, it’s clear that there’s a stark contrast in how justice is served. While some argue that powerful figures like SBF have received preferential treatment during legal proceedings, others feel that regular people would end up in jail for similar actions. The unequal treatment calls for a more fair and consistent approach to enforcing financial regulations and pursuing justice.

In conclusion, the legal saga surrounding SBF raises significant concerns about how powerful connections and financial influence can impact the handling of financial misconduct cases. To rebuild trust in the cryptocurrency industry and the broader financial system, regulatory authorities must demonstrate an unwavering commitment to investigating and prosecuting wrongdoing, regardless of an individual’s status or connections.

Upholding fairness and impartiality is not only crucial for maintaining the integrity of our financial system but also for safeguarding the interests of all investors and consumers. By striving for a more equitable and consistent approach to enforcement, we can pave the way for a stronger, more transparent, and accountable financial landscape that benefits every ordinary American.

What do you think about the way SBF has been treated during his legal proceedings? Share your thoughts and opinions about this subject in the comments section below.

from Bitcoin News

Worldcoin Adoption Said to Be Accelerating; Sam Altman States ‘One Person Getting Verified Every 8 Seconds’

Worldcoin, the digital ID passport and universal basic income project, is allegedly rising in popularity, with thousands of people said to be signing up and registering. According to Sam Altman, co-founder of the project, one person is currently verified by the iris scanning devices — the “Orb” — every 8 seconds. However, some data could call these claims into question.

Worldcoin Operations Allegedly Ramping Up, One Person Getting Verified Every 8 Seconds

Worldcoin, a project that aims to become a digital decentralized ID that will serve to deploy a Universal Basic Income (UBI) system with Sybil protections, is seeing more interest from potential users, according to statements from its team.

The project launched officially on July 24 after more than three years of development, and it is currently ramping up its presence in different parts of the world. Photos of the iris scanning devices, called “Orbs,” have been shown on Worldcoin’s social media accounts, confirming their presence in cities like Lisbon, Miami, and Los Angeles, even as the World App is not available in the U.S. due to lack of regulatory clarity.

Sam Altman, CEO of Openai and co-founder of Worldcoin, posted a video on social media showing users waiting in line to be signed up using an Orb to verify their identities. Altman stated there were “crazy lines around the world,” declaring that one person was getting verified every 8 seconds.

Altman’s Objectives

Due to the supposed high level of demand, Worldcoin is now allowing users to reserve their genesis airdrop of 25 WLD, the native token of the protocol, and be verified later to obtain it. However, reports indicate this demand might not be as high as Altman states. For example, a recent article published on SCMP declares only a few hundred participants registered in Hong Kong on Monday and Tuesday.

While Worldcoin announced it had reached 2 million signups on July 13, the data shows that only about 13% of these users have possession of the WLD tokens on the Optimism network. According to Etherscan, less than 270,000 participants are holding WLD, the protocol’s token. This is still far from the 2 billion people Altman mentioned recently on social media as his final goal.

According to blockchain research company Kaiko, due to the distribution of liquidity among market makers, the first weeks might be crucial for the project, given that the value of the airdrop is close to $50 is “and will likely stay in that range for the next three months.”

What do you think about Wordcoin and its announced adoption? Tell us in the comments section below.

from Bitcoin News

Russian President Vladimir Putin Criticizes the ‘Use of the Dollar as a Political Weapon’

Russian President Vladimir Putin has railed against using the dollar as a political weapon in a meeting with the New Development Bank’s president, Dilma Rousseff. Putin stated that this weaponization and the recent developments in global finance complicated the institution’s growth to help third-world countries facing difficult conditions.

Russian President Vladimir Putin Talks Dollar Weaponization in Recent Meeting

Russian President Vladimir Putin referred to the weaponization of the dollar and its effects on the global economy in a recent meeting with Dilma Rousseff, president of the New Development Bank (NDB) — also known as the BRICS bank — during the second Russia-Africa Summit held in Saint Petersburg. Putin explained this weaponization complicated Rousseff’s task of growing and developing the NDB’s role in the current international arena.

Talking to Rousseff, Putin stated:

I am confident that … you will make every effort to develop this institution. In the current conditions, it is not easy to do so, given the developments in global finance and the use of the dollar as a political weapon.

Furthermore, Putin declared that the BRICS countries (Brazil, Russia, India, China, and South Africa) were “increasing the use of national currencies in their mutual settlements,” mentioning that the NDB might have a role to play in boosting these joint activities.

Rousseff’s Statements

Rousseff stated that even as the bank faces liquidity problems, the institution is called to develop a more significant role in the emerging multipolar world order. She explained:

The bank should play a major role in the development of a multipolar, polycentric world. We must work to attract investment in the markets of our partners.

Putin had declared previously that this new multipolar world already being shaped will be “more just and democratic.” Rousseff also talked in favor of using national currencies for international trade, stating:

I also believe that the countries of the developing world can freely make their foreign trade transactions between themselves in their national currencies.

The Roscongress Foundation, a Russian think tank that sponsors the Russia-Africa Summit, had profiled the role of the NDB as a counterpart to the International Monetary Fund (IMF) in a report published in May. In Roscongress’ vision, the bank could issue “energy loans” based on the energy exporting capabilities of each member.

These energy loans would be secured through the NDB, being liquid due to its multi-currency nature, similar to the IMF’s Special Drawing Rights (SDR).

What do you think about Putin’s statements on the weaponization of the U.S. dollar? Tell us in the comments section below.

from Bitcoin News

US State of Minnesota Okays Crypto Donations to Political Campaign Committees

Minnesota has become one of the few U.S. states to permit crypto donations to political campaign committees. However, according to the state’s new rules, crypto donations must be converted to U.S. dollars within five days. In the event of price changes within the five-day grace period, these must be shown separately in campaign finance reports.

Converting Crypto Donations to Dollars

The U.S. state of Minnesota has become one of the first states in the country to okay crypto donations to political campaign committees. Under the state’s new rules, which took effect in July 2023, recipients of crypto donations are nevertheless required to convert these to U.S. dollars within five days.

According to a report by Axios, the crypto contributions must be valued at the digital assets’ respective prices when the donations were made. In the event of the prices changing within the five-day grace period, such changes must be shown separately in campaign finance reports.

Minnesota’s decision to allow crypto contributions was made after the state’s Campaign Finance & Public Disclosure Board received inquiries from campaign teams which wanted to know the procedures for accepting crypto donations. According to Jeff Sigurdson, the CEO of the state’s political finance and disclosure body, these inquiries in turn prompted it to ask legislators to look into this.

Although the state has okayed crypto contributions, prospective recipients of such donations are still wary of digital assets’ volatility. The identity of crypto donors is also another key concern for the campaign committees.

Politicians Not in a Hurry to Receive Crypto Donations

Meanwhile, U.S. congressman Ken Martin is quoted in the report stating that he is not seeking to actively raise crypto donations.

“There’s so much that you have to do to verify cryptocurrency and … accept it that it’s somewhat of an administrative nightmare,” Martin said.

Minnesota Republican David Han claimed that politicians from the state will accept any “lawful contribution to help our cause.” He however claimed that politicians in the state are currently not focused much on raising funds via crypto donations.

As per the report, the new rules are expected to give the green light for collecting political donations via Venmo and other mobile payment apps.

What are your thoughts on this story? Let us know what you think in the comments section below.

from Bitcoin News