In this article, discover the crypto recap of the week where we will come back to the essential news of the last seven days.
Crypto regulation: the SEC does a little too much
In the battle for crypto regulation, the United States is on the offense. The US government believes that cryptocurrencies pose a possible threat to its security. This is why the American police of the financial market are embroiled in numerous lawsuits with crypto companies, including one with Ripple. Many players in the ecosystem, including the boss of Circle, criticize the SEC’s approach. Brad Garlinghouse accuses the SEC of being behind the exodus of crypto companies from the United States. On the other side of the Atlantic, regulators are considering adapting crypto regulation in the UK to the Basel III rules. For the G20the time has come to speed up common regulations.
Metaverse and Web3, two growing sectors
The metaverse and Web3 are two sectors that are seeing massive adoption. As Hennessy launches its platform, blockchain founders raise over $75 million to help drive Web3 adoption. In Asia, the metaverse is experiencing strong growth. Japan plans to launch an economic zone solely dedicated to the metaverse. In Europe, mistakes have been made with regard to internal politics. The EU wants to impose its values in the metaverse. In a few days, Paris will once again be the scene of a grandiose event showcasing Web3
It’s CBDC time, all countries are rushing there
Unable to stop, let alone curb the mass adoption of cryptos, countries are rushing to issue CBDCs. A former adviser to the US president says the government is pushing for the launch of the digital dollar. At the same time, Australia announced a pilot project for the creation of its own CBDC. As for the Governor of the Bank of England, the kingdom is not yet able to issue its CBDC.
Russia, Ukraine and cryptocurrency
The first uses currencies without borders to circumvent Western sanctions. The second would procure weapons from the pro-cryptos. Also as part of the sanctions, the Moscow Credit Bank (MCK) has set up bank guarantees in yuan via the blockchain.
World Bank, NFT and FTX
Recently, a former engineer confessed everything about organized fraud. In Japan on the other hand, FTX Japan users can now withdraw their funds.
Binance & NFTs
In the world of NFTs, Binance is launching a fun new product that combines AI and Non-Fungible Tokens. Meanwhile, observers believe the NFT collection of former UFC champion Khabib is a scam.
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