The Ministry of Science and Information and Communication Technologies of South Korea plans to direct public funding in the amount of $185 million to create its own metaverse. As part of the five-year “Virtual World Expansion Strategy” designed to place South Korea among the world’s top five metaverse creators, the Virtual World Academy will be established. The functions of the organization will include state support and encouragement of the active participation of commercial companies interested

EU Financial Commissioner Mairead McGuinness believes that regulation of cryptocurrencies is much more effective than banning them, and Central Bank digital currencies can become an alternative to stablecoins. Mairead McGuinness stated that cryptocurrencies and related financial products are already “not going anywhere”, so they should be strictly regulated. At the same time, people investing in them must exercise extreme caution and carefully assess the risks associated with them. According to McGuinness, investing in cryptocurrencies is

BitMEX co-founders Arthur Hayes and Benjamin Delo pleaded guilty to using the platform for money laundering and agreed to pay a $10 million fine. In October 2020, the U.S. Commodity Futures Trading Commission (CFTC) accused BitMEX CEO Arthur Hayes, exchange co-founder Benjamin Delo, and other marketplace executives of illegally doing business in the U.S., as well as violating KYC rules. and AML. According to a Justice Department statement, BitMEX illegally served US customers between September

Canadian Prime Minister Justin Trudeau has repealed the Emergency Situations Act, introduced last week to deal with the Freedom Convoy protest group. As Justin Trudeau stated in a press release, “the situation is no longer an emergency and existing laws and regulations are sufficient.” Isabelle Jacques, Assistant Deputy Treasury Secretary of Canada, told a parliamentary committee that “financial institutions are unfreezing accounts and the vast majority of accounts.” Recall that earlier the Royal Canadian Mounted

The US Federal Bureau of Investigation is looking for a private provider of analytics software to track crypto transactions related to illegal activities. As part of the contract, the FBI is looking for a private provider of analytical software that can provide access to the relevant tool and ensure the integration of this software with the department’s systems. The contract with the supplier is planned to be concluded on March 25 this year. The term

Senator Indira Kempis of the Mexican state of Nuevo Leon suggested that Mexico follow the example of El Salvador and accept bitcoin as a means of payment. Indira Kempis, a member of the opposition Movimiento Ciudadano (Civil Movement) party, believes that bitcoin has many advantages and can benefit people who do not have bank accounts. She said that she had already consulted with people who understand this crypto asset, and now intends to use her

The Brazilian Senate Committee on Economic Affairs approved a bill defining the supervisory authorities that will be responsible for regulating the cryptocurrency industry in the country. The bill, introduced by Senator Flávio Arns, was approved by the Brazilian Senate Committee on Economic Affairs on February 22. Now the bill must pass a vote in the plenary session of the Senate, and if approved by the Brazilian Chamber of Deputies, sent for approval to the country’s

The Advertising Standards Board of India has published guidelines for advertising digital assets in the country after consulting with the government and stakeholders. According to the Advertising Standards Council of India (ASCI) document, print advertisements for cryptoassets must contain a disclaimer. This disclaimer must occupy at least 1/5 of the size of the advertisement, and must be printed in an easily readable font on a plain background. In audio advertisements for cryptoassets, the disclaimer must

The Italian Ministry of Economy and Finance has introduced new rules for cryptocurrency companies in the country aimed at combating money laundering (AML). According to the local official Gazzetta Ufficiale, the regulation lists all registration and reporting requirements for Virtual Asset Service Providers (VASPs). According to the document, if a company offers services related to cryptocurrencies in the country, it must register in a special register of VASPs approved in Italy. The new rules were

Manchester City Football Club has partnered with tech giant Sony to create a digital map of the Etihad’s home stadium and build a virtual replica of it in the metaverse. The reigning English Premier League winner has announced that he has signed a three-year deal with Sony Hawk-Eye to build the world’s first football stadium in the metaverse. With the help of virtual reality experts from Sony, Manchester City FC will create a digital map