The Commodity Futures Trading Commission (CFTC) filed charges against 14 crypto trading entities for failure to register as Futures Commission Merchants (FCMs) as directed in the crypto policy framework by the commission. Furthermore, unregistered companies that had made false and misleading claims of having CFTC registration and National Futures Association (NFA) membership was also brought under the regulatory umbrella. The legal notice requires all mentioned companies to cease and desist from violating the Commodity Exchange Act and CFTC regulations.
Despite the fact that gambling is an extremely restricted activity across many of the Asian countries that form the continent, there is no doubt that the industry is continuing to experience a huge amount of growth. A number of nations have placed blanket bans on the activity, whilst others have fewer restrictions compared to others. Whilst it might be hard to understand how this is possible given the rules and regulations on the industry, it is not too difficult to see when taking a look at another sector that has become intertwined with gambling all around the world.
South Korean investors may have to wait a bit longer before they start paying taxes on their cryptocurrency holdings. The new crypto tax regime was scheduled to take effect in January next year, but according to local reports, the ruling Democratic Party of Korea (DPK) has reached a consensus to go against the government and push for yet another delay.
Better late than never, New Zealand’s central bank is exploring the idea of having a central bank digital currency (CBDC) in the country’s financial ecosystem. The Reserve Bank of New Zealand (RBNZ) said that a digital currency will include its potential use as a monetary policy tool.
The United Kingdom’s central bank is ramping up its research into a central bank digital currency (CBDC) with the selection of a long list of banking and fintech experts to assist it.
According to a report published by the Bank of International Settlements (BIS) and a group of central banks, digital currencies can lead to faster settlement and cheaper transfers. Moreover, the banking group leveraged a prototype that shows how money transfers can be done in seconds with very little processing fees.
Play-to-earn games are one of the fastest-growing segments in the crypto market. In 2020, gamers showed interest while in quarantine and even afterward.
Crypto wallets are devices, programs or services that help users store their private and public keys. They also help users in encrypting and signing in order to conduct safe and secure transactions. While crypto wallets are an important tool for every user who wants to trade and hold cryptocurrencies, shuffling between wallets and instant messaging apps can be tedious.
Axie Infinity, a play-to-earn NFT game based on the Ethereum blockchain, announced the launch of the staking program for its native token, Axie Infinity Shards or AXS.