Headlines
▌Coinbase will suspend BUSD trading
Cryptocurrency exchange Coinbase announced that it will suspend Binance USD (BUSD) trading at around 12:00 U.S. Eastern Time on March 13, 2023. BUSD funds are still available to users and will continue to be able to withdraw funds at any time.
Policies
▌The British banking regulator will propose rules on the issuance and holding of cryptocurrencies
Vicky Saporta, executive director of prudential policy at the Bank of England, said in a speech on Monday that the Prudential Regulation Authority (PRA), which oversees British banks, is planning to propose rules on the issuance and holding of digital assets. The UK is trying to strengthen its approach to cryptocurrencies, including stablecoins and other digital settlement assets that could pose risks to financial stability. Authorities will be empowered to regulate the industry once the Financial Services and Markets Act becomes law, and the UK government is currently consulting on how it should be regulated. According to the text of the speech, the new standards for companies regulated by the PRA will be in line with rules for other industries.
Blockchain Application
▌Web3 browser Opera reached cooperation with OpenAI
Web3 browser Opera has announced a partnership with OpenAI, formally entering the field of AI-generated content (AIGC). The plan is to integrate artificial intelligence and generative computing technologies into its products to reshape the user experience.
Cryptocurrency
▌Data: Voyager transferred about 154 million USDC from Coinbase this month
On-chain data shows that Voyager’s assets are flowing. Some $154.4 million in USDC was moved from Coinbase to the shuttered exchange’s “Voyager1” ethereum wallet this month, according to transaction records. Voyager has been selling assets "at a rate of around $100 million a week," according to Web3 analytics firm Arkham Intelligence. It added that the company had "$700 million in two very large purses". According to Arkham, the Voyager wallet contained $268 million in ETH, $236 million in USDC and another $77 million in SHIB.
▌Report: Cryptocurrency crime hits record high of $20.6 billion in 2022
According to a new report from blockchain research firm Chainalysis, the value of cryptocurrency crimes in blockchain transactions will reach a record high of $20.6 billion in 2022. Kim Grauer, director of research at the firm, said Monday that while other forms of illicit activity may be on the decline, "two categories that really stand out in terms of growth are sanctioned activity and hacking." According to the Chainalysis report, criminal activity accounted for 0.24% of all blockchain transactions last year, an increase of 0.12% from the previous year.