The Hong Kong Securities and Futures Commission (SFC) published on Monday its virtual asset trading rules. The government body is seeking comment from public experts on the findings.
According to the document, regulators will offer licencing for cryptocurrency firms and will determine if those receiving them can serve retail investors. It will also outline investor protection measures.
The notice said: “Operators of virtual asset trading platforms which plan to apply for a licence, including pre-existing platforms […], should begin to review and revise their systems and controls to prepare for the new regime. Those which do not plan to apply for a licence should start preparing for an orderly closure of their business in Hong Kong.”
Additional measures will require operators to perform due diligence on cryptocurrencies by monitoring and assessing liquidity over time. It will also determine who owns holdings on the platforms and how the wealth is concentrated.
Crypto operators can only trade tokens for the SFC’s requirements, meeting “eligible large-cap virtual asset posted on designated indices. It also requires smart contracts to ensure security checks.
Comments and Plans for Hong Kong Crypto
Julia Leung, SFC chief executive, said in a statement,
โAs has been our philosophy since 2018, our proposed requirements for virtual asset trading platforms include robust measures to protect investors, following the โsame business, same risks, same rulesโ principle. In light of the recent turmoil and the collapse of some leading crypto trading platforms around the world, there is clear consensus among regulators globally for regulation in the virtual asset space to ensure investors are adequately protected and key risks are effectively managed.โ
The report concluded that some platforms aimed to offer derivatives, leading to probes on sufficient business models and market demand. This comes after the SFC opened regulated crypto-based derivatives to some investors in January last year.
The organisation also aims to hold further reviews to outline related policies. Consultations will close on 31 March and licencing protocols will enter on 1 June, the report concluded..
The report comes after Hong Kong announced it would introduce further regulations and the development of a potential stablecoin for future use. Hong Kong will also receive Samsung Asset Managment’s Bitcoin-based futures exchange-traded funds (ETF) in the Chinese finance hub.
Zurich, Switzerland, 23rd February, 2023, Chainwire
Cookielabs, a web3 and DeFi advisory firm founded by รzcan Kรถme, is proud to announce its membership into the Crypto Valley Association (CVA) Switzerland. This membership represents a significant milestone for the company and its founder.
Being one of the first independent Bitcoin Suisse affiliate partner back in 2016, รzcan Kรถme played a significant role in the early stages of the crypto industry. By hosting educational blockchain events while being the main speaker in front of thousands of people, he managed to generate 8 figures in turnover within his first year. With almost a decade of experience and knowledge, he possesses a deep understanding of the latest trends and opportunities within the Blockchain & DeFi field. Therefore with Cookielabs, heโs focused on providing innovative advisory solutions to help clients navigate the complex and ever-changing landscape of the DeFi market.
รzcan Kรถme, CEO and Founder of Cookielabs: “We are honored to join the Crypto Valley Association and to be a part of such a dynamic and forward-thinking community. The DeFi market is constantly evolving, and I believe that our membership in the CVA will be beneficial for all involved parties.”
The CVA is a Swiss organization in Zug (CH) that aims to create the world’s leading blockchain and cryptographic technologies ecosystem. They support startups, established businesses, and research projects, as well as host events like conferences and hackathons. CVA also acts as a bridge between Crypto Valley and other global blockchain innovation centers in London, Singapore, Silicon Valley, and New York.
With its new membership in the Crypto Valley Association, Cookielabs is well-positioned to continue providing innovative advisory solutions to its clients and stay ahead of the curve in the rapidly evolving DeFi market.
About Cookielabs
Cookielabs is a web3 advisory firm offering help in the following areas: project management, web development, web design, UX/UI design, and brand identity.
For more information, visit:
website: https://cookielabs.ch/
Contact
Daniel Schmid
Cookielabs GmbH
[email protected]
Dubai, UAE, 23rd February, 2023, Chainwire
The layer-1 for data, Flare, just completed a live demonstration of new interoperability functionality now available in beta on the network. Using two core interoperability protocols, State Connector and Flare Time Series Oracle (FTSO), an NFT was trustlessly purchased with the transaction taking place on a different chain using a different token. The demo was performed on Flareโs canary network, Songbird, with the purchase made using DOGE and XRP tokens.
Flareโs State Connector protocols enable information, both from other blockchains and the internet to be used securely, scalably and trustlessly with EVM-based smart contracts on Flare chains. In this case, it has been used to prove that a transaction has been confirmed on a non-Flare chain and simultaneously verify the correct payment reference was included.
The Flare Time Series Oracle delivers highly decentralized price and data feeds to dapps on Flare, without relying on a centralized provider to bring the data on-chain. For the demonstration, it provides the live updating price of the NFT in the currency of the other chain.
As Flare is an EVM-based blockchain, everything that can be achieved on Ethereum and other EVM chains can also be performed on Flare. The NFTs minted in the demo are therefore standard ERC721 contracts written in Solidity and deployed on the network. The only changes required were the addition of methods to integrate with the FTSO and State Connector.
Hugo Philion, Flare CEO & Co-founder, said, โThis demo highlights Flareโs ability to provide more types of secure, decentralized data on-chain in order to power new functionality and potential use cases for the industry. The NFT demo is one example of the web3 utility Flare can unlock for legacy tokens, enabling them to be used trustlessly in dapps on the network. We are excited to see what other applications engineers can develop, harnessing the capabilities of Flareโs native interoperability protocols.โ
Demo Video: https://www.youtube.com/watch?v=g0qxxm2EZjw 
About Flare
Flare is an EVM-based Layer 1 blockchain that gives developers decentralized access to high-integrity data from other chains and the internet. This enables new use cases and monetization models, while allowing apps to serve multiple chains through a single deployment.
Flareโs State Connector protocols enable information, both from other blockchains and the internet to be used securely, scalably and trustlessly with smart contracts on Flare.
The Flare Time Series Oracle delivers highly-decentralized price and data feeds to dapps on Flare, without relying on centralized providers.
Build on Flare with more data than ever before or build with Flare to serve multiple ecosystems.
Website | Twitter | Telegram | Discord
Contact
Nadav
[email protected]
Zug, Switzerland, 23rd February, 2023, Chainwire
A fork of Bitcoin, known as Particl, has announced the completion of an eBay-style marketplace thatโs been integrated into its wallet. Built using blockchain smart contracts, the marketplace is derived from an original concept first proposed by Satoshi Nakamoto.
Particlโs latest release forms a trustless, unstoppable marketplace where buyers and sellers can trade goods without the risk of getting scammed. It features zero fees and encrypted chat messages between buyers and sellers alongside ring signatures and blinding to provide greater transactional privacy than Monero.
Bitcoinโs creator vanished in 2011 after being invited to meet the CIA. His last email stated, โI’ve moved on to other things.โ Before he disappeared, Satoshi was working on a marketplace built into Bitcoin. Now, a working version of this technology has been quietly released by an anonymous team of developers. Satoshiโs original Bitcoin source code included an unfinished marketplace in line 69 of the headers file. โI was trying to implement an eBay-style marketplace built into the client,โ he said in a 2011 email to Mike Hearn.
During the Covid pandemic, the sale of many essential items was restricted on traditional platforms like Amazon and eBay due to price gouging rules. As a result, sellers took advantage of Particlโs decentralized governance system which offered no such selling restrictions. Items such as thousands of units of PPE, hand sanitizer, and Covid test appeared on the platform. During the Hong Kong student protests, items such as full-face gas masks and protective gear were listed. The first Tesla car was even listed for sale, well before Elon Musk took an interest in crypto.
The Particl marketplace currently only lets users pay in PART, its native currency. However, project developers are working on a mechanism to support direct payments in Monero, PIVX, FIRO, Dash, USDT, Litecoin, and Bitcoin later this year. There are plans to ultimately allow payment in almost any cryptocurrency thereafter, making Particl a truly crypto-agnostic marketplace.
About Particl
Particl is an Amazon, eBay and exchange disruptor. The project was started in 2014 and its foundation was established in Zug Switzerland in 2017. A portal view of the marketplace is available at particl.store, while to buy and sell items users can download Particl Desktop at particl.io. The Particls DEX, BasicSwap, can be downloaded at basicswapdex.com .
Further information can be found on the FAQ or by contacting spokesperson Dr. Kapil Amarasinghe at [email protected].
Contact
Amarasinghe
Kapil
[email protected]
Singapore, Singapore, 23rd February, 2023, Chainwire
MEXC, the leading cryptocurrency exchange that performed exceptionally well throughout the recent market downturn, has announced a major reduction in trading fees.
Spot trading costs on the platform have dropped to zero for maker fees and 0.1% for taker fees, while futures trading costs have reduced to zero for maker fees and 0.03% for taker fees – making MEXC a great choice to trade cryptocurrency globally.
This move is aimed at encouraging newcomers to join its growing trading community as it works to drive wider adoption of cryptocurrencies globally.
The announcement comes as the market is bouncing back, and MEXC’s business growth and increased trading volume are testaments to its reliability and efficiency.
MEXC is committed to giving back to its community and takes its social responsibility commitments seriously. With the new fee structure in place, MEXC is confident it can attract even more traders and drive further growth in the cryptocurrency industry.
Bitcoin News reported that Futures trading volume on MEXC has increased by an impressive 1200%, a testament to the exchange’s commitment to providing the best trading experience for its users.
“We are proud to announce that MEXC now has the lowest fee overall in the cryptocurrency industry. Through our philosophy of users first, MEXC’s changing for you, we strive to do business in a way that makes users trade better with ease and confidence,” said Andrew Weiner, VP of MEXC Global. โWe have seen substantial growth in the crypto industry. In 2022, the trading volume on MEXC alone increased exponentially versus the previous year. With the return of users’ confidence in trading, we believe that this fee reduction will be rewarding them with a much-needed boost to help the whole industry grow. “
MEXC’s commitment to the cryptocurrency industry and its users is unwavering, and the exchange will continue to look for ways to give back to the community and promote industry growth. With the new fee structure in place, MEXC is poised to become the leading cryptocurrency exchange, and traders can be assured of the best trading experience on the platform.
MEXC‘s announcement is a clear indication of the exchange’s commitment to its users and the industry as a whole. Traders looking for a reliable and efficient platform with low fees should look no further than MEXC.
For more information, visit: www.mexc.com
About MEXC
MEXC is the world’s leading cryptocurrency trading platform, providing one-stop cryptocurrency trading services for spot, ETF, futures, Staking, NFT Index, and more. MEXC currently serves more than 10 million users worldwide and embraces the philosophy of “Users first, MEXC’s Changing for you”. Visit the website and blog for more information, and follow MEXC Global and M-Ventures.
Contact
PR in charge
Antonio Wu
MEXC Global
[email protected]
New York, United States, 23rd February, 2023, Chainwire
Following exciting Maison Hennessy Web3 projects last year, including its first NFT-connected bottle and launch of Cafe 11 social club in partnership with Friends with Benefits DAO, Hennessy introduces H3NSY with a new brand mark, website and Twitter handle dedicated to the brand’s Web3 ventures and innovative practices.
Hennessy, the world’s leading producer of cognac, has unveiled its latest initative in the Web3 space. The H3NSY eco-system, which features a new brand mark, website, and Twitter handle, reinforces the brand’s commitment to Web3 projects, collaborations, and innovations.
Over the past year, Hennessy has introduced several exciting Web3 projects, including the launch of its first NFT-connected bottle, H8, which saw the bottles sold via Blockbar for $250,000 each, another Blockbar drop with Paradis Gold, as well as the introduction of a cultural NFT social club, Cafe 11, in collaboration with DAO Friends with Benefits (FWB). Through Cafe 11 NFT holders are given access to a program of Hennessy cultural events, with the inaugural event taking place last December in Miami and more programming updates to be released soon. These initiatives have established Hennessy as a strong player in the Web3 space and a driving force for innovation in the industry.
With the launch of H3NSY, the 250-year-old cognac brand is taking its entrance into the blockchain universe one step further, allowing dedicated focus and communication around its endeavors and providing a hub for its community to learn about and engage with these initatives.
“For Hennessy.” explains Laurent Boillot, CEO of Hennessy, “Web3 extends past NFTs into traceability and other practices that will improve the future of our business. The introduction of H3NSY now allows us to put dedicated focus and communication around these endeavors and gives our community a place to connect with this new part of our business.”
The goal of H3NSY is to serve as a membership platform and hub for creators, cultures and communities, along with future NFT partnerships and Cafe 11 program annnouncements, Web3 bottle drops, and other blockchain innovations that the brand is currently investing in.
To learn more about H3NSY and the innovative work that Hennessy is doing in the Web3 space, visit the platform at www.h3nsy.com and Twitter handle, @h3nsy.
About Hennessy
The leader in Cognac, the Maison Hennessy has shone around the world with its exceptional know-how for more than 250 years. Built on founder Richard Hennessy’s spirit of conquest, the brand is present in more than 160 countries. Based in the heart of the Charente region, Hennessy is also a steadfast pillar of the regional economy. The Maison’s success and longevity are rooted in the excellence of it’s cognac, each of which is born of a unique process of transmission of know-how from generation to generation. The first spirits Maison to be certified ISO 14001, Hennessy unites its capacity for innovation and support of all of its partners to protect this exceptional area. As a crown jewel of LVMH Group, Hennessy is a major contributor to French international trade, with 99% of production sold in export, and a worldwide ambassador for the French art de vivre.
PLEASE DRINK RESPONSIBLY.
Contacts
Direcotr
Michael O’Brien
North Six
[email protected]
Web3 Development Director
Danielle Barich
Hennessy
[email protected]
Bitcoin watchers have seen the cryptocurrency jump to roughly $25,000 after the crypto market capitalisation reached $1.17 trillion, reports showed.
The price of the cryptocurrency king hit $24,500, a 12.4 percent increase from last week. Ethereum, the second-biggest digital currency by market capitalisation, topped $1,689 USD, an 11.7 percent spike from last week.
Additional virtual currencies rose along with BTC, with Solana, Polkadot, and Polygon gaining 20 percent, 19 percent, and 18.5 percent, respectively.
One user stated that BTC could potentially reach $27,000 USD shortly with a candle formation.
Degen Ape Trader said at the time: WIf this red line get smashed. We may see a $btc god candle to 27k area in a short time. Basically no resistance till 27-28k for #btcusdt after 25250.”
Crypto Market Triggers
The news comes after massive fluctuations took place due to US Federal Reserve and Securities and Exchange Commission disruptions in the crypto economy.
According to reports, Bitcoin hovered earlier this month around $23,000 USD after the Fed launched several interest rate hikes to tackle ongoing monetary inflation.
Additional concerns with the SEC lawsuit against cryptocurrency giant Binance, whom the regulatory body accused of selling crypto-related securities. News of the litigation, linked to Paxos-minted Binance USD (BUSD), triggered massive net outflows of roughly $831 million USD at the time.
San Francisco, United States, 22nd February, 2023, Chainwire
Unstoppable Domains commits to not assert against members of the Alliance its patents that are necessary to adopt the Allianceโs interoperability and security standards
The Web3 Domain Alliance, a member-led coalition dedicated to improving the technological and public policy environments for users of Web3 naming services, today announced 52 new members including Blockchain.com, Rarible, Wyre, Bitdegree, WazirX, and Klever, along with dozens of other naming systems, projects and companies.
In order to support the ongoing development of digital identity technology in Web3, Alliance members including Unstoppable Domains will make contributions, including technology, to enable interoperability and security standards. As part of this commitment, Unstoppable has irrevocably agreed not to assert against Alliance members its patents that are necessary to adopt the Allianceโs interoperability and security standards. More information can be found on the Web3 Domain Alliance website. A founding member of the Web3 Domain Alliance, Unstoppable was recently awarded a patent around resolving blockchain domains and aims to support innovation across the Web3 industry through its IP investments.
Members of the Web3 Domain Alliance will engage on topics including consumer protection, interoperability of blockchain naming systems, fair and open use of intellectual property in the industry, preventing naming collisions, and more. Together, the Web3 Domain Alliance will advocate for standards in the Web3 domain industry to foster innovation and a safe environment for people. Recently, the team at Web3 social trading network Metascan deprecated their NFT top-level domain to avoid a name collision and joined the Web3 Domain Alliance.
โAs an early member of the Web3 Domain Alliance, weโre honored to work alongside our new co-members to unlock potential in the Web3 domain space,โ said Sandy Carter, SVP and Channel Chief of Unstoppable Domains. โTogether, weโll build a Web3 domain space where new ideas and innovation can flourish and where more people can own their digital identity.โ
Web3 domains have seen a rapid increase in interest, with more than 3.4 million domains reportedly created across the industry in 2022 alone. Amid this rising interest, the Web3 Domain Alliance was founded in November 2022 as the first industry group to create standards for the blockchain naming industry. The Web3 Domain Alliance also aims to proactively engage in discussions with ICANN to increase ICANN’s awareness and recognition of Web3 Top Level Domains (W3TLDs).
โDigital identity is the next great frontier of Web3 and weโre thrilled to support innovation in this space through the Alliance,โ said Lane Kasselman, President at Blockchain.com. โWe look forward to helping set standards as a community so we can protect users as the Web3 domain industry grows.โ
Web3 domains provide a vital component of a person’s Web3 digital identity. Domains can be used, among other things, to send and receive cryptocurrency in place of lengthy alphanumeric wallet addresses, host a website that you fully own, set up secure email forwarding, and sign into hundreds of apps, games, metaverses and more. Web3 domains are minted on the blockchain and stored in a user’s wallet, putting ownership in the hands of the owner.
As part of todayโs announcement, the Alliance welcomes 27 new naming systems, including Stargaze Names, iheartdomains.xyz, EDNS, NF.Domains [TxnLab Inc.], United Domains, Threely, Xdc Web3 Domains, Astar Web3 Domains, Tron/Bittorent Web3 Domains, Velas Web3 Domains, IoTeX Web3 Domains, Fusion Web3 Domains, Elastos Name Service, Moon Web3 Identity, Wanchain Web3 Domains, Ontology Web3 Domains, NEAR, OKC Web3 Domains, Meter Name Service, Metis Name Service, Fuse Web3 Domains, Easy IP, IAMX.ID, .CSPR Domains, Metascan, NFTR, and NFT Domains SA.
Additional new members to the Alliance include Blockchain.com, Wyre, Rarible, Bitdegree, WazirX (Bandit), Math Wallet, Guarda, Solo Wallet, My Doge Wallet, OMNI, Talent Protocol, Indacoin, Markmonitor, Revest Finance, Coreum, Cian, LunarCrush, Web23, WAM, NFTrade, XcelPay, Klever, KICA, Wirex, and Puma Browser.
Early members of the Web3 Domain Alliance include Unstoppable Domains, Bonfida, Polkadot Name System, Hashgraph.name, Syscoin, and klaytn.domains.
About Web3 Domain Alliance
Founded in 2022, the Web3 Domain Alliance is a member-led, member-driven organization dedicated to improving the technological and public policy environments for users of Web3 naming services. It exists to promote the development of the Web3 naming industry and the functioning of Web3 domain registries with and across blockchain-based and traditional web applications. The Web3 Domain Alliance is also dedicated to the technological advancement and interoperability of Web3 domain registries.
Contact
Web3 Domain Alliance
[email protected]
Dubai, UAE, 22nd February, 2023, Chainwire
The SiGMA Eurasia expo in Dubai from March 13-16, 2023 will take place at the InterContinental Festival Arena. It provides attendees with opportunities to network with professionals in various industries, learn about the latest technology and innovations, connect with key decision-makers, and gain knowledge about new markets.
Dubai is a prime location for business, innovation and entrepreneurship, due to its thriving business environment that blends opportunities from East and West.
Major companies in the technology, gaming, affiliate and medical industries will be showcasing their products and services, including a Startup Village where delegates can evaluate new market players.
The SiGMA Eurasia Dubai expo will also host three startup pitches where business owners can present their ideas to a panel of experts. Prior to the SiGMA Eurasia Dubai expo, the CPA Club International forum will host a meetup in collaboration with SiGMA, featuring Jordan Belfort, also known as The Wolf of Wall Street.
The event will provide opportunities to network with influential individuals and decision-makers, including senior government officials and leading experts in the field, such as serial entrepreneur and investor Gary Vee, who will be speaking on three conference stages.
Nightly networking drinks and dinners will take place, giving delegates the chance to meet and connect with each other, building lasting business relationships. The prestigious Gala Awards and the closing celebration are two of the most sought-after events, with the Gala Awards supporting the SiGMA Foundation and benefiting educational institutions in Africa.
By bringing together top investors, suppliers, affiliates, startups, and operators, the event will give the audience the opportunity to form new collaborations and pursue business opportunities, including strategic alliances and joint ventures. Local government representatives will also be present, offering special opportunities for development and expansion.
Learn, Network, Explore
The agenda for the event is focused on thought-provoking conference sessions led by top-notch thought leaders, including this year’s keynote speaker Gary Vee, a highly successful entrepreneur and investor.
Throughout a series of panels and keynotes, a group of distinguished industry professionals, including Dr. Sara Al Madani, Josef Holm, and John Lee, will share their insights and spark debates on current business trends in areas such as esports, affiliate marketing, virtual reality, and Web3. They will assess the challenges and potential opportunities facing the MENA region.
Panels will delve into a variety of topics, including the use of generative AI, the development of legal and regulatory frameworks for online gaming in the Middle East, the growth of cryptocurrency payments, and the role of Web3 in competitive gaming.
For a complete overview of the SiGMA Eurasia agenda, check out the official website.
If you’re interested in exhibiting or sponsoring, find out how to be a part of the event’s success on the website.
Contact
Sigma Press
[email protected]
Japanese FTX users will receive access to withdrawal services for both their cryptocurrency and fiat assets.
In its press release, it stated that it would uphold its pledge to release the funds after Japanese authorities held them under national law. Funds will open “from 12:00 on February 21, 2023,” it said.
The statement informed investors that Liquid Japan would provide withdrawals and other services for FTX Japan. Customers with assets on the platform were required to “confirm the asset balance of their FTX Japan account before using this service, and then open/confirm a Liquid Japan account.”
It added that procedures for transferring to a Liquid Japan account were also required, with eligible customers receiving notifications via email.
Speaking further, FTX Japan stated: โDue to the large number of requests from customers, it may take some time for the withdrawal process to be completed. We will announce the resumption of other FTX Japan services as soon as possible.โ
The news comes after FTX Japan blocked services and payments on 8 November, just days before FTX filed for Chapter 11 bankruptcy in the United States. Reports show creditors are preparing to sell off FTX Japan and FTX Europe as part of FTX’s funds recovery operations over the next few months.
In mid-January, FTX lawyers revealed that the disgraced company had recovered around $5 billion USD in funds after a major probe into the company’s assets.