Cryptospace Spotlight (28 Nov 2021)
Regulators push forward with their oversights, Singapore's cryptospace gets hotter, and DAO makes history!
India proposed crypto regulation bill sparked panic sell resulted in a dive in the price of crypto-assets (more).
In Singapore,
Fintonia Group - a Singapore regulated fund manager - has launched two institutional-grade Bitcoin (BTC) funds (more).
OCBC is watching the cryptospace closely and will be considering - but not rushing - to setup a crypto exchange (more).
Crypto.com becomes the first crypto exchange achieving SOC 2 compliance - a norm for traditional banking (more).
StraitX starts to issue the first Indonesia Rupiah stablecoin - XIDR - on both the Ethereum and Zilliqa blockchain with each XIDR token fully backed by one Indonesian rupiah (more).
El Salvador decided on building the first 'Bitcoin City', powered by volcano and backed by bitcoin bonds (more). It also celebrated its purchase of 100 Bitcoin (BTC) during the Black Friday price dip (more).
ConstitutionDAO - a decentralised autonomous organization “DAO” - that raised USD 40 millions, failed its bid for one of 13 surviving of the U.S. Constitution. However, this move has made history with a new crypto-crowdfunding trend (more).
Paypal is watching cryptocurrencies - such as Ethereum, Solana, Polkadot and Algorand - to scale its payments network (more)
Regulatory development,
World Economic Forum identified four key cybersecurity threats to Central Bank Digital Currencies "CBDC" (more)
1. Credential theft and loss, 2. Users with privileged roles (insider threats), 3. System integrity and “double spending” (forking and online/offline), 4. Quantum computing (compromising encryption methodologies)
Euporean Central Bank set out its framework - Payment Instruments, Schemes and Arrangements (PISA) - to oversee stablecoins and crypto-assets. It includes an assessment methodology and an exemption policy. Companies that fall under the Eurosystem’s oversight have until November 15, 2022, to adhere to the new principles (more).
South Korea wants to bring criminal liability to unfair behavior in crypto markets such as price manipulation and insider trading (more)
Russia to include legal liability on crypto activities which its central bank considers to be illegal. (more)