Jamaican authorities will distribute $16 to the first 100,000 digital Jamaican dollar users

Cryptocurrency News

The first 100,000 Jamaicans who install Central Bank of Jamaica cryptocurrency wallets will be rewarded in digital Jamaican dollars worth $16. This was announced by Jamaican Prime Minister Andrew Holness (Andrew Holness). In a recent speech before the House of Representatives, Jamaican Finance Minister Nigel Clarke said this would encourage individuals and businesses to use the government’s stablecoin to conduct transactions. According to the Jamaica Observer, approximately 17% of the Jamaican population is unbanked. Therefore,…

The European Union for the sake of tougher sanctions equated cryptocurrencies to securities

Cryptocurrency News

The European Union has officially announced that the sanctions imposed on the Russian Federation and the Republic of Belarus apply to cryptocurrencies. The EU leadership explains that cryptocurrencies are included in the category of “transferable securities”, therefore, they are clearly subject to sanctions imposed on Russia and Belarus. “Loans and credits can be provided by any means, including crypto-assets,” the EU said in a statement. The EU also announced an expansion of existing financial restrictions…

Dubai authorities approved the law on virtual assets

Cryptocurrency News

The emirate of Dubai has approved a law on virtual assets and formed an agency that will regulate the crypto industry. Sheikh Mohammed bin Rashid Al Maktoum announced this on Twitter. He emphasized that the introduction of the concept of virtual assets in the legislation will strengthen the position of Dubai in the emerging digital economy. The law represents an important step towards the development of the digital and cryptocurrency sector, as well as protecting…

China take steps to manage data security and curb speculation in the metaverses

Cryptocurrency News

The National People’s Congress has decided to introduce urgent measures to regulate the metaverse to manage data security and curb speculation as the industry develops. The tasks of introducing government supervision and regulation, managing data security, and curbing speculation in the metaverse were explored at the national level during the National People’s Congress in early March. The “Metaverses” have come under government scrutiny after telecommunications conglomerates Tencent, ByteDance, NetEase and Baidu have been active in…

Pantera and Polychain will invest $10 million in the high fashion industry for the metaverse

Cryptocurrency News

Space Runners has raised money to create a metaverse dedicated to the fashion industry. Startup Space Runners, created to develop the fashion industry in the metaverse, has raised $10 million in the first round of funding. The investment round was led by Pantera Capital and Polychain. Also participating in the round were Accel and Jump Crypto, as well as Animoca Brands Chairman Yat Siu and Twitch co-founder Justin Kahn. Space Runners made its name last…

Exploit Fix in Convex Finance Smart Contract Causes Mass Unlock of CVX Tokens

Cryptocurrency News

The Convex Finance team used a new smart contract to resolve the bug, resulting in the unlocking of millions of CVX tokens. The Convex Finance team warned users on Twitter on March 4 that it had reallocated the smart contracts responsible for the vote blocking management mechanism? after discovering a bug that would provide some users with disproportionate rewards. “There were no use cases [of the bug] prior to the deployment of the new vlCVX…

Adobe Behance will start supporting the Phantom wallet

Cryptocurrency News

The Behance designer platform will allow Solana blockchain users to showcase their NFTs. Popular among designers, social media platform Adobe Behance has announced that it will begin supporting the Phantom crypto wallet. The integration will allow Behance users to display non-fungible tokens created on the Solana blockchain in their profiles. Will Allen, VP of Product at Adobe, said in a tweet that the platform’s goal has always been to support creative people. With the help…

Ethermine mining pool stopped working with users from Russia and Belarus

Cryptocurrency News

Bitfly, which owns the Ethermine mining pool, has updated its user agreement, according to which the pool stops servicing Russian and Belarusian miners. As explained by Bitfly, the decision was made in compliance with the law on combating money laundering and combating illegal financial transactions. The prerequisite was a military special operation of Russian troops in eastern Ukraine. The restrictive measures of the Ethermine pool “are aimed at complying with the sanctions requirements of the…

BTC.com pool banned registration of new users from Russia

Cryptocurrency News

Since March 5, the BTC.com mining pool has suspended the provision of services to new users from Russia. The pool site is unavailable from Russian IP subnets, however, ASIC miners continue to work and payments have not been stopped. The BTC.com pool warned users about the suspension of services to citizens of the Russian Federation, as it previously blocked users from mainland China. At the same time, access to other BTC.com services is not limited…

SEC began to study the NFT market for illegal ICOs

Cryptocurrency News

The US Securities and Exchange Commission has begun investigating the activities of NFT issuers and collectible token trading platforms for violations of securities laws. According to Bloomberg, over the past months, law enforcement officials from the US Securities and Exchange Commission (SEC) have been sending NFT creators numerous requests for detailed information about token offerings. The main focus of the SEC is whether non-fungible tokens used to “secure” ownership of digital paintings and musical compositions,…