In an unexpected turn of events, CyberKongz, a project at the forefront of the gaming-oriented NFT (non-fungible token) movement, received a Wells Notice from the U.S. Securities and Exchange Commission (SEC) on December 16. This notice has sent ripples through the Web3 gaming community as it raises significant questions about the use of ERC-20 tokens
safe
The digital landscape remains fraught with risks, particularly in the burgeoning cryptocurrency sector, as exemplified by the recent hacking incident involving Vivek Ramaswamy, co-lead of the newly formed Department of Government Efficiency (D.O.G.E.). This event not only highlights issues of cybersecurity but also accentuates the potential for misinformation to create chaos in financial markets. A
The cryptocurrency market is often characterized by its unpredictable swings and volatility. Recent events in the market provide a sobering reminder of this reality, as the past week has seen substantial fluctuations in market capitalization and price fluctuations for major cryptocurrencies. The last week exemplified the inherent instability of the cryptocurrency sector, with total market
In a significant response to growing concerns around individual privacy, the Bavarian State Office for Data Protection Supervision (BayLDA) has instructed Worldcoin to enhance its data protection measures. This conclusion comes after a thorough investigation into the company’s biometric data handling practices, specifically regarding the collection of iris-derived data for the World ID system. Founded
As our lives increasingly intertwine with the digital realm, the need for secure identity verification simmers to the forefront. Traditional mechanisms like passwords and security questions often fall short in providing the protection required in today’s high-stakes online environment. Enter Biometric Non-Fungible Tokens (NFTs)—an innovative solution that merges blockchain technology with unique biometric data to
The Hong Kong Securities and Futures Commission (SFC) has taken a significant leap in its regulatory framework for the virtual asset market by granting licenses to four additional virtual asset trading platforms (VATPs). As announced on December 18, this development not only indicates a willingness to embrace digital innovation but also underlines the SFC’s commitment
The Australian Securities and Investment Commission (ASIC) is intensifying its enforcement actions against cryptocurrency exchanges, exemplified by its recent lawsuit against Oztures Trading Ltd, which operates Binance Australia Derivatives. This legal battle arises from serious allegations regarding inadequate consumer protection mechanisms, putting the actions of a key player in the Australian cryptocurrency market under the
In its latest transparency report, Coinbase revealed a notable decrease in the number of law enforcement and government agency requests it received during the past year. Specifically, the cryptocurrency exchange reported a total of 10,707 inquiries, marking an 18% decline from the previous period. This drop is significant not only as an isolated metric but
The European Securities and Markets Authority (ESMA) has unveiled its conclusive guidance in anticipation of the sweeping Markets in Crypto-Assets (MiCA) regulations, which are set to be fully enforced this month. This initiative is the result of an extensive 18-month regulatory journey characterized by the development of over 30 Technical Standards and Guidelines. Collaborating closely
In response to the increasing risks associated with cryptocurrency investments, the Nigerian Securities and Exchange Commission (SEC) has unveiled a set of stringent regulations aimed specifically at social media influencers. These updated guidelines require influencers to ensure that any cryptocurrency product or service they endorse is backed by a client that is duly licensed by