Hex Trust Gets Green Light for Cryptocurrency Custody in Dubai
Hex Trust obtains regulatory approval for cryptocurrency custody services in Dubai, advancing its Middle East expansion in line with the emirate's progressive regulations.
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Blockworks Acquires The Breakdown, Expanding Its Podcast Network
08/05 22:38
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- Hui Xin
"Cryptocurrencies Have Failed" Says Managing Director of MAS
Ravi Menon, Managing Director of the Monetary Authority of Singapore (MAS), asserted that cryptocurrencies have fallen short as digital money, lacking stability as a medium of exchange or store of value.
AaronU.S. Lawmakers Challenge Proposed Crypto Taxation
U.S. lawmakers, led by McHenry and Torres, challenge proposed digital-assets taxation, citing concerns over the broad 'Broker' definition impacting the digital asset community.
Hui XinWhy Is Polygon's Gas Fee So High Today?
This surge in network activity resulted in a spike in transaction costs, soaring to over 7,000 Gwei (up from 100 Gwei the previous day) before stabilising around at the lowest point at 400 Gwei, according to Polygonscan.
DavinSeoul High Court Grapples with 110 Billion Won Fraud Allegations Against Former Chairman Lee Jeong-hoon
The Seoul High Court's 5th Criminal Division, under the guidance of Presiding Judge Seo Seung-ryeol, delved into an appeal hearing regarding fraud charges amounting to 110 billion won against former Chairman Lee Jeong-hoon. The prosecution urged a reconsideration of the initial ruling, pushing for an 8-year prison sentence identical to the first trial's decision.
JoyXREX Receives In-Principle Approval for Major Payment Institution License
The Monetary Authority of Singapore (MAS) has granted initial approval for a license, enabling XREX to offer digital payment token products and services in the city-state.
BrianU.S. Authorities Arrest Trio in $10 Million Cryptocurrency Scheme Crackdown
U.S. authorities apprehend trio in a $10 million crypto fraud, exposing a scheme of bank theft and deceptive cryptocurrency conversion.
Hui XinUbisoft's Web3 Game "Champions Tactics" to Offer Free NFTs – Unlocking In-Game Advantages
Ubisoft disclosed plans on the 17th to introduce NFTs through Ethereum's chain for their upcoming Web3 game, "Champions Tactics." The company also unveiled a scheme to provide select users with these NFTs for free.
JoyTaiwan Clinic Owners Accused of NT$80 Million Electricity Theft in Crypto Mining Venture
A couple operating aesthetic medicine clinics in Taichung City, Taiwan, faces legal repercussions due to their involvement in cryptocurrency mining ventures. Zheng and Su sought to bolster their income by investing in virtual currency mining since 2021. Collaborating with Huang, who established eight mining sites in Taichung, the couple engaged in mining operations. However, suspicions arose as Huang is accused of stealing electricity, resulting in losses of approximately NT$80 million for Taiwan Power Company. The situation escalated when two mining sites experienced electrical fires, posing risks to adjacent tutorial centres and a hot pot restaurant.
JoySingapore Starts Live CBDC Trials, One of Three-Part Initiative By MAS
MAS Managing Director Ravi Menon disclosed plans for the central bank to collaborate with local banks, testing the practical use of CBDCs as settlement assets for domestic payments.
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