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“# FXT token taps into Binance Smart Chain following ERC-20 success ” Crypto trading platform FXT announced the launch of a BEP-20 token after its ERC-20 token witnessed an impressive 1500% growth since its launch back in January 2021. The new token, which is built on the Binance Smart Chain (BSC), is designed to reduce transaction…
“# Bull or bear market, creators are diving headfirst into crypto ” After an astronomical bull run into the beginning of this year that was followed by an abrupt halt and 50% drop since April, crypto markets are at a fork in the road right now. Where they go next could inform us about how…
“# Nonfungible tokens from a legal perspective ” A nonfungible token (NFT) can be both a representation of a physical or digital asset that only exists on the internet — a programmable piece of art. It provides ownership of an underlying asset, like a painting, and it can also represent a digital asset in the…
“# KFC Korea and TriumphX marketplace sign deal to develop NFT content ” Entertainment and nonfungible token marketplace TriumphX has signed a memorandum of understanding (MOU) with fast-food giant KFC in South Korea. The agreement will focus on joint blockchain research with the aim of integrating NFT technologies and enhancing the branding of the fried…
“# Reserve Bank of India mulls first steps toward an eventual CBDC ” The Reserve Bank of India, or RBI, continues to investigate the issuance of a central bank digital currency, or CBDC. T Rabi Sankar, the deputy governor of RBI, said in a speech organized by the Vidhi Center for Legal Policy that private…
“# Cryptocurrency’s latest use case: Music production? ” A recent collaboration between two prominent social influencers has resulted in a device that creates sounds (or music) based on cryptocurrency’s infamous price volatility. In what has been termed the collaboration of the century, Estefannie and Look Mum No Computer (Sam Battle) joined hands to bring a “cryptocurrency-measuring…
“# A green revolution in crypto mining? Industry answers wake-up call ” After having been hailed as a champion of sorts by many within the global digital asset market, Tesla CEO Elon Musk dropped a bombshell on the crypto community earlier in May, backtracking the company’s decision to start accepting Bitcoin (BTC) as a means…
“# Alabama regulators accuse BlockFi of offering unregistered securities ” The state of Alabama has become the second state in the United States to raise concerns over BlockFi, a major cryptocurrency lending platform. The Alabama Securities Commission (ASC) has issued a show cause order to New Jersey-based company BlockFi, ASC director Joseph Borg officially announced…
“# SEC Chairman says cryptocurrency falls under security-based swaps rules ” The Securities and Exchange Commission, or SEC, may soon issue new rules for the regulation and registration of security-based swaps, including cryptocurrency. In a speech to the American Bar Association Derivative and Futures Law Committee SEC Chairman Gary Gensler laid out the changes coming…
“# It is time for the US to create a ‘Ripple test’ for crypto ” Most crypto enthusiasts are less than pleased with the United States Securities and Exchange Commission’s past approach to crypto. This is not because legitimate businesses oppose regulation but because of the breadth, complexity and uncertainty associated with the current regulatory…