The National Bank of Georgia has prepared a first draft of policies designed to regulate the country’s cryptocurrency market. However, officials from the country’s central bank did not disclose a date for a parliamentary hearing.
In its move to make the UK a crypto hub, The government plans to amend the existing regulations and bring certain stablecoin payments into its regulatory purview.
Coinbase Ventures is set to conduct an in-person pitching event for Indian cryptopreneurs to help boost the country’s growing crypto and Web3 industry.
India’s 30% tax on profits from cryptocurrencies came into effect yesterday being the 31st of March. In addition to this, the industry also faces the prospect of another 1% Tax Deducted at Source (TDS) expected to take effect by July 1.
Major crypto bank and digital currency exchange Kraken added support for the popular decentralized network Lightning. The Bitcoin layer protocol provides smart contract functionality and off-chain transactions. Platforms like social media giant Twitter have also integrated the Lightning network for BTC payments.
Washington State Governor Jay Inslee has signed Blockchain Bill 5544 into law, after a turbulent 3 years and one veto from the day it was proposed. The Bill will see the state set up a working group that will research potential applications for blockchain technology.
Over the past few years, the cryptocurrency and blockchain industry has driven the digital economy forward with countless innovative developments including decentralized finance (DeFi) solutions, Web3 tools, and NFTs to name a few. While the space was initially referred to as a bubble waiting to burst, blockchain technology has so far proven doubters wrong. This persistence coupled with continuous advancement has supposedly caught the eyes of institutional investors who are increasingly splashing the big bucks to support startups focused on solving key problems by leveraging the technology powering modern financial products like the so-called ‘magic money’ and ‘digital gold’.
Last year Kyrgyzstan introduced regulations on crypto exchanges and the crypto mining industry but the circulation of crypto assets remained unregulated. Now there are calls to legalize crypto assets and launch a national cryptocurrency.
Six days after the initial attack, the Ronin Network team has revealed that the sidechain was exploited by an unknown hacker. The postmortem audit discovered that 173,600 ETH and 25.5 million USDC was stolen from the Ronin bridge in two transactions. Ronin’s team has halted the bridge and limited access to the Katana dex until the matter is resolved. The project leads have also contacted relevant law enforcement authorities and alerted exchanges.