The Metaverse has to be open and collaborative according to Virtua co-founder – CryptoSateIRL #23

Virtua is a multi-chain metaverse project that utilizes Polygon, Elrond, Wax, and Cardano within its ecosystem. Additionally, partnerships with top IPs, including Top Gun, King Kong, The Godfather, Kevin Hart, Shelby, and William Racing, enable players to live out exciting and varied experiences within the Virtua metaverse. Virtua was co-founded by Gary Bracey, a BAFTA-nominated …

Latam Still Unprepared to Deal With Crypto Crime and Scams, According to GFI Report

Latam is still unprepared to deal with cryptocurrency-related crimes and scam situations, according to a recent report issued by Global Financial Integrity (GFI), a Washington DC-based think tank. The document states that crypto regulation has failed to grow with the adoption of these new technologies and that governments have often failed to detect and punish …

‘Cryptocurrencies Like Bitcoin Make Global Commerce Easy’ — Founder of Nigerian Crypto Exchange

Despite the Central Bank of Nigeria (CBN)’s Feb. 5, 2021 directive that instructed banks to block crypto entities from the financial system, the demand and use of cryptocurrencies have continued to grow. Not even the central bank’s subsequent crackdown on crypto entities it accused of defying the directive has succeeded in suffocating demand for cryptocurrencies. …

Bank of Japan to Launch Digital Yen Pilot Program Next Year

The Bank of Japan is preparing to run a test trial of its own central bank digital currency (CBDC), the digital yen, with help from three top banks and regional institutions. The pilot program, estimated to last two years, will focus on testing the currency via several transactions, and experimenting with its functionality in environments …

Here’s When the Bitcoin and Crypto Bear Market Will End, According to deVere Group CEO Nigel Green

Financial advisory firm deVere Group CEO Nigel Green is optimistic that the crypto bear market is months away from coming to an end. Green says that the prices of Bitcoin (BTC) and other crypto assets will rise once inflation starts slowing down and the central banks begin loosening monetary policy. According to Green, the assets …

SEC chair’s crypto oversight strategy in question as ecosystems collapse

While regulations are often aimed at protecting citizens from bad actors, the effectiveness of crypto regulations in the United States is in question owing to the colossal fall of major exchanges and ecosystems over the past year — FTX, Celsius, Voyager, and Terra (LUNA). Congressman Tom Emmer showed concerns about the oversight strategy implemented by …

Binance proof-of-reserves is ‘pointless without liabilities’: Kraken CEO

The collapse of the crypto exchange FTX revealed the importance of proof-of-reserves in avoiding situations involving the misappropriation of users’ funds. While exchanges have proactively started sharing wallet addresses to prove the existence of users’ funds, several entrepreneurs, including Kraken CEO and co-founder Jesse Powell, called the practice “pointless” as exchanges fail to include liabilities. …

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