Shanghai invests $52 billion in the metaverse industry

Cryptocurrency News

In the next three years, the Chinese government of Shanghai intends to implement a program to support projects in virtual reality. The municipal authorities of one of the largest metropolitan areas in China announced their intention to make the city a major technology center for the development of such projects. Government investment in the metaverse economy will be increased 30 times, from $1.5 billion to $52 billion. Wu Jincheng, director of the Shanghai Committee for…

Glassnode: The number of addresses in Bitcoin for the first time exceeded 1 billion

Cryptocurrency News

According to the analytical agency Glassnode, the volatility and problems of the crypto market did not stop the development of Bitcoin. Glassnode specialists reported that for the first time since the existence of the Bitcoin blockchain, the number of created addresses on the network on July 11 exceeded one billion, reaching 1,000,002,559 addresses by the end of the day. This suggests that Bitcoin, despite the fall of the cryptocurrency market, continues to be popular. The…

Charity Commission of England and Wales: “Contributions in cryptocurrencies are too risky”

Cryptocurrency News

The assistant director of the Charity Commission for England and Wales urged UK fund trustees to exercise caution when dealing with cryptocurrencies. Samuel Jackson published an article warning charities about the risks of accepting digital assets as donations as it is not clear how cryptoassets will evolve in the future. The assistant director advised fund trustees looking to “dive” into the world of cryptocurrencies to think carefully about their decisions in order to avoid problems…

Swiss Post is developing its own crypto depository platform

Cryptocurrency News

The Swiss Post banking division intends to provide customers with direct access to the cryptocurrency markets through the controlled PostFinance service. The Swiss financial system is undergoing dramatic changes. The emergence of domestic competitors such as banks Neon, Alpian, Yapeal, foreign competitors such as Revolut, and the launch of digital services by traditional commercial banks have reduced Swiss Post’s revenue and customer base. In this regard, the Swiss Post has announced a new service –…

Brazil’s largest payment service launches cryptocurrency exchange

Cryptocurrency News

The PicPay payment service, which works similarly to PayPal or Cash App, opens an internal platform for trading crypto assets. The team behind PicPay, a Brazilian fintech app, is confident that the launch of the cryptocurrency platform will allow more than 65 million users of the service to make transactions with crypto assets without leaving the app. “PicPay enters the cryptocurrency market to promote it not only as an investment, but also as a way…

Cryptocurrency projects are massively moving from Terra to Polygon

Cryptocurrency News

After the collapse of the Terra ecosystem, projects based on this blockchain are forced to migrate to other networks. One of the most popular directions was the Polygon solution. Currently, 48 decentralized finance (DeFi) projects and blockchain games are migrating to the Polygon network. This was written by the CEO of Polygon Studios Ryan Wyatt (Ryan Wyatt). “It’s been great to help and welcome all these great developers into our ecosystem. We are flourishing! Welcome!”…

Playboy will build a mansion in the Sandbox metaverse

Cryptocurrency News

Playboy will open a virtual mansion in The Sandbox metaverse with themed entertainment based on the company’s history. Men’s magazine Playboy is teaming up with metaverse platform The Sandbox to build a metaverse digital counterpart of the MetaMansion party mansion. The magazine plans to change its development strategy, relying on new trends, such as, for example, Web3. Inside the digital mansion, mini-games, collaborative social activities, organized events, and regular digital releases are promised. The theme…

The United States called on Japan to ban national cryptocurrency companies from working with Russia

Cryptocurrency News

The US authorities called on the Japan Financial Services Agency to restrict the activities of national cryptocurrency exchanges and mining companies that continue to work with Russia. The US request came to the Japan Financial Services Agency (FSA) following changes to the Foreign Exchange and Foreign Trade Law. Amendments to the legislative act are aimed at strengthening the powers of the country’s regulatory authorities to limit the flow of digital currency. US diplomats said that…

A bill has been submitted to introduce licensing of crypto companies in Hong Kong

Cryptocurrency News

Members of the Legislative Council of the Special Administrative Region of China have been presented with a new bill aimed at combating money laundering and the financing of terrorism. The authors of the bill propose to introduce licensing of virtual asset service providers (VASP) and registration of dealers in precious metals and stones (DPMS). If the bill passes, Hong Kong companies operating in these two sectors will be required to comply with regulations aimed at…

British fund managers urge authorities to approve blockchain products

Cryptocurrency News

The Investment Association, a trading organization representing British investment managers, is lobbying to launch funds traded on the blockchain with digital tokens instead of traditional stocks. The Investment Association, a trading organization representing British investment managers, is lobbying for the launch of blockchain-traded funds with digital tokens instead of traditional securities. Members of the association propose to the British authorities and financial regulators to approve the formation of a working group to study methods for…