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South Korea introduces a cryptocurrency bill to protect investors
The South Korean National Assembly passed the Virtual Asset User Protection Act on June 30 during a plenary session, local media SBS reported. The legislation combines 19 different crypto-related bills that aim to establish a regulatory framework for the industry and define digital assets that are securities. However, it primarily focuses on investor protection amid a…
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EDX Markets, a new crypto exchange backed by Wall Street has launched
EDX Markets (EDX), which is backed by Fidelity Digital Assets, Charles Schwab and Citadel Securities, has launched in the U.S. after building out its technology for the past nine months, the company announced Tuesday. “I am proud to announce that EDX Markets (EDX) has successfully launched our digital asset market and completed an investment round with…
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Traditional forms of banking are experimenting with the Metaverse
It may not be the buzzword it once was among the tech set, but the metaverse has begun to get attention from financial institutions. With a user base and audience that is young, tech-savvy, and in the early stages of their financial lives, metaverse applications offer banks unique opportunities to build relationships with a digitally native and…
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The SEC goes after Binance and Coinbase
The U.S. Securities and Exchange Commission (SEC) tore off crypto’s bandage this week, with its back-to-back enforcement actions against two of the most prominent digital assets platforms, Binance and Coinbase (COIN), finally establishing its legal argument against the industry and setting up the future court fights that could decide everything. Apart from the “extensive web…
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Apple will launch Vision Pro in 2024
If you have not watched Apple’s latest WWDC 2023 where they announced their new Mixed AR headset, then we’ll break down what they announced yesterday. As predicted by many, Apple is stepping into the VR and Augmented Reality world. This is Tim Cook’s moment to move the pendulum forward… similar to what Steve Job’s did…
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The EU has signed Crypto regulations into law
The European Union formally signed its landmark Markets in Crypto Assets (MiCA) regulation into law on Wednesday, taking the bloc closer to becoming the first major jurisdiction in the world with tailored rules for the sector. The law was signed by the European Parliament President Roberta Metsola and Swedish Rural Affairs Minister Peter Kullgren, alongside…
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Meta is in talks with Magic Leap to sign an IP licensing deal
Meta could turn to Magic Leap for help to stay ahead of Apple and other new entrants in the soon-to-be crowded AR space. According to the Financial Times, the two companies are in talks to sign a multi-year IP licensing and manufacturing pact. Details on the negotiations are few, but according to the outlet’s sources, a potential partnership…
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Hong Kong and the UAE central banks to collaborate on crypto regulations
Hong Kong and the United Arab Emirates’ (UAE) central banks are looking to collaborate on cryptocurrency regulations and financial technology development. On May 30, the Hong Kong Monetary Authority (HKMA) said it met with its counterparts at the Central Bank of the United Arab Emirates (CBUAE), with the two agreeing to “strengthen cooperation” on “virtual asset regulations…
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China has created and launched a govt-backed metaverse
In a very interesting development for the industry and the country, China launched a government-backed metaverse platform. Moreover, it is set to combine the resources of various academic enterprises and institutions throughout the country. Subsequently, in hopes of more development of the sector. The metaverse is a virtual space containing a host of virtual worlds and experiences.…
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Hong Kong launches a task force for the Web3 and metaverse platforms
The cybersecurity unit of the Hong Kong Police Force has launched CyberDefender, a new metaverse platform designed to educate the public about the potential dangers associated with Web3 and the metaverse. According to a May 27 statement, the Cyber Security and Technology Crime Bureau (CSTCB) of the Hong Kong Police Force unveiled the new metaverse platform…
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