Censorship resistance is the foundation of crypto, so for many cryptocurrency purists, the Nov. 23 announcement by ConsenSys, the New York-based company behind the leading Ethereum browser wallet, informing its 20 million MetaMask users that their IP and wallet addresses would be collected was simply a gross violation of the crypto spirit. In the weeks that followed, ConsenSys first reacted by saying the data collected would only be retained for seven days and then that it had updated the MetaMask features to allow users to opt out of Infura. However, the question remains: Have they done enough to establish crypto …

The European Parliament has released a report on a draft bill proposing that banks holding cryptocurrencies set aside a large amount of capital in an effort to address potential risk. In a Feb. 9 notice, EU lawmakers said any framework applied to crypto assets should “adequately mitigate the risks of these instruments for the institutions’ financial stability,” proposing banks apply a 1250% risk weight on their exposure to digital assets — one of the highest risk ratings for investments. The proposed law suggested that such requirements go into effect until Dec. 30, 2024. “The rapid increase in the financial markets’ …

Singapore state-owned megabank DBS Group is planning to expand its cryptocurrency services to Hong Kong as the Chinese territory pushes to become a digital asset hub. DBS Bank plans to apply for a license to allow it to offer crypto trading services to Hong Kong customers, Bloomberg reported on Feb. 13. “We are planning to apply for a license in Hong Kong so that the bank could sell digital assets to our Hong Kong customers,” DBS Bank Hong Kong CEO Sebastian Paredes said. Paredes noted that DBS welcomes new crypto-related policies in Hong Kong, and is also “very sensitive” to …

Blockchain infrastructure platform Paxos will halt issuance of new BUSD (BUSD) stablecoins amid the ongoing probe by the New York regulators. Paxos officially announced on Feb. 13 that the firm will end its relationship with Binance for the branded USD-pegged stablecoin BUSD. Starting from Feb. 21, Paxos will stop minting new BUSD tokens, in accordance with directions and coordination with the New York Department of Financial Services (NYDFS). Paxos emphasized that all existing BUSD tokens will remain fully-backed and redeemable through Paxos Trust Company through “at least February 2024.” Customers will be able to redeem their funds in USD and …

The New York Department of Financial Services has reportedly ordered blockchain company Paxos Trust Co. to stop the issuance of dollar-pegged Binance USD (BUSD) stablecoin. The New York regulator's actions come shortlyafter the United States Securities and Exchange Commission issued a Wells Notice to Paxos — a letter the regulator uses to tell companies of planned enforcement action. The notice alleged that Binance USD is an unregistered security. The NYDFS has reportedly asked Paxos to stop creating more of its BUSD token. Paxos will continue to manage redemptions of the product, according to a Binance statement. This is a developing …

Bitcoin (BTC) price is trying to recover over the weekend but the current bounce lacks conviction. This suggests that dip buyers are nervous to load up before the release of January’s consumer price index data on Feb. 14 as that could boost short-term volatility. Although the near term is uncertain, analysts at Delphi Digital expect the United States Federal Reserve to pivot to an accommodative policy later in the year and that could be favorable for risk assets. Another bullish projection came from Pantera Capital CEO Dan Morehead who said that Bitcoin’s “seventh bull cycle” may have begun. Morehead highlighted …

Not even 24 hours after the Canadian University Dubai (CUD) announced its partnership with Binance Pay to accept course fees in cryptocurrencies, a technical roadblock watered down the excitement behind the short-lived initiative. CUD, a private university in Dubai, was seemingly interested in allowing students — both domestic and international — to pay their tuition and course fees in cryptocurrencies. This initiative would have allowed students from varied backgrounds easy access to the Canadian curriculum in Dubai. Dear CUD Community, For technical reasons, CUD will not be accepting cryptocurrency as a method of payment, until further notice. We apologize for …

Brazilian bank Banco do Brasil is offering a new and convenient option for taxpayers to settle their dues using cryptocurrencies. According to a statement published by Banco do Brasil on Feb. 11 it is now “possible” for Brazilian taxpayers to pay their tax bill with crypto, in a joint initiative with Brazilian-based crypto firm Bitfy. This initiative is available to Brazilian’s who have their crypto under the custody of Bitfy, who will act as a “collection partner” for the major Brazilian bank. It noted that besides the convenience it brings to customers, it makes it possible to “expand” the use …

A career in the metaverse involves developing and designing virtual environments and experiences within a virtual world. Creating virtual characters, objects and interactive experiences is one example of this. There are job prospects in software development, content creation and project management in this expanding profession, which includes disciplines, such as game design, 3D modeling, virtual reality (VR) and artificial intelligence. Related: How to learn Web3 development for beginners Building a career in the metaverse requires a combination of technical, creative and business skills. Below are some of the key skills needed to succeed in this field. Skills required to build …

Kazakhstan, one of the biggest Bitcoin (BTC) mining hubs in the world, announced plans to introduce new crypto regulations aimed at reducing tax fraud and unlawful business operations. A new law signed by Kazakh President Kassym-Jomart Tokayev on Feb. 6 reinstated the nation’s stand against the unlawful mining operations and issuance of crypto assets. Out of the two distinct legislations, the first requires the secured digital assets issuers to have the government’s permission. Moreover, such issuers will be subject to monitoring in accordance with the existing law of the land — “On Combating the Legalization (Laundering) of Proceeds from Crime …

Bitcoin (BTC) price and the wider crypto market corrected at the start of this week, giving back a small portion of the gains accrued in January, but it’s safe to say that the more experienced traders expected some sort of technical correction. What was unexpected was the SEC’s Feb. 9 enforcement against Kraken exchange and the regulator’s announcement that staking-as-service programs are unregulated securities. The crypto market sold-off on the news and given Kraken’s decision to close up 100% of its staking services, traders are concerned that Coinbase will eventually be forced to do the same. The real question is, …

The parts that make up the cryptocurrency ecosystem are not all equal, United States Federal Reserve Board governor Christopher Waller told a conference audience on Feb. 10. He had clear preferences among the three elements of the ecosystem that he identified. Waller was hosted by the Global Interdependence Center at its “Digital Money, Decentralized Finance, and the Puzzle of Crypto” conference. He considered crypto assets, blockchain technology and trading technology, such as smart contracts and tokenization, separately. Waller focused on the broader applications of crypto technology. Research on applications of distributed ledger technology to “a wide range of data management …