CoinCodeCap WeekInFocus: December 10, 2023

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WeekInFocus is your ally in plugging in the gaps in the news you might have missed during the course of the previous week. Beyond that, it serves as a catalyst for your professional and personal development by introducing you to new ideas and exciting job opportunities. Join us in accepting both what is occurring and what is conceivable.



UK House of Commons Advocates Deeper Exploration of CBDC Viability and Risks

  • The House of Commons Parliamentary Committee has requested that more consultations be conducted to ascertain the advantages of introducing a digital pound.
  • Numerous advantages in terms of issuance, dissemination, and privacy, among other things, were brought to light by the current testing of an English CBDC.

South Korea Takes Action: Authorities Seek Reports on Unregistered Crypto Exchanges

  • South Korean regulators asked consumers to report any unlicensed cryptocurrency exchanges that are providing services to users in the region.
  • Operators who persist in “undeclared business activities” will face consequences from the FIU, including notification of the investigative agency.

Kenyan Parliament Advances Crypto Tax Bill

  • A bill that would classify cryptocurrency assets as securities and tax capital gains on them has passed a committee in the Kenyan parliament.
  • Following the Committee’s approval, the measure will move on to the National Assembly, Kenya’s lower house of parliament, for reading. 

UK Regulator Issues Warning as Poloniex Faces Scrutiny Post $100M Hack

  • Poloniex has been added to the FCA’s warning list of unapproved businesses in the UK.
  • In October, it declared that 140 cryptocurrency businesses, such as KuCoin and HTX, were on its watch list.

Pro-Blockchain Bill Secures Approval in U.S House Committee

  • The legislation directs the U.S. Secretary of Commerce to actively support blockchain technology. 
  • The legislation would mandate Secretary of Commerce Gina Raimondo to take necessary actions to advance U.S. competitiveness in blockchain tech. 

Kazakhstan’s Crypto Crackdown: 980 Unlicensed Exchanges Blocked in 2023

  • The FMA of Kazakhstan restricted access to almost a thousand crypto exchanges that catered to the nation’s people without the required paperwork in 2023. 
  • Enacted in February 2023, the Digital Assets Law forbids the creation, trade, and exchange of digital currencies without first obtaining a national license.

US, South Korea, and Japan Join Forces Amid Escalating Concerns Over North Korean Threats

  • Discussions on Crypto Thefts amongst US, South Korea, Japan Trilateral Meeting. Meeting Centered on North Korea’s Illicit Activities in the Crypto Space.
  • Escalating Sanctions on Crypto Mixers Emerge in the US.

Platform and Tokens

French Court Acquits Platypus Finance Hackers After $8.5 Mln Exploit

  • The court noted their use of a flawed smart contract did not amount to fraud
  • Considering the similarity to a bug bounty attempt, the two men were cleared of all criminal charges.

Bukele Announces El Salvador’s Successful Bitcoin Investment

  • El Salvador’s President Nayib Bukele announces a complete recovery of the country’s Bitcoin investment. 
  • This announcement comes with a notable $3.62 million profit.

Scammer Exploits Stargate Snapshot, Stealing $43,000 Through Phishing Attack

  • A scammer successfully tricked more than 1,000 users on Stargate Snapshot.
  • Snapshot Scammer’s $43,000 Gain from Phishing Link

SEC Seeks Judge’s Ruling on Terraform Labs

  • Terraform Labs, amidst an SEC securities lawsuit, filed for a summary judgment on December 4, 2023, aiming for a swift resolution.
  • The defense cited the SEC’s alleged misrepresentation of facts in the DEBT Box case.

Hong Kong Regulator Blocks Access to Two Crypto Entities Over Fraud Concerns

  • A warning has been issued by the SFC of Hong Kong over possible fraudulent activities using BitCuped and the Hong Kong Digital Research Institute.
  • The authorities also sent a cease-and-desist letter to the owners of the companies’ websites.

FTX Set to Present Updated Reorganization Plan by Mid-December

  • In response to the FTX 2.0 Customer Ad Hoc Committee, the Official Committee of Unsecured Creditors has sent a letter outlining the specifics of its revised suggested reorganization plan.
  • Ongoing operations, on the other hand, will be formally reported via a court application for approval.

Binance Former CEO CZ Ordered to Remain in the US Until Sentencing

  • Binance CZ has been ordered to remain in the country until his sentencing in February.
  • Judge Jones agreed with earlier claims from federal prosecutors that they would not be able to secure Zhao’s return if he chose not to return to the US.

Project Updates

In December, the UniSat App will launch, according to UniSat Wallet. 

The UniSat App is scheduled to launch in December, as announced by UniSat Wallet. The Atomicals protocol, which is anticipated to launch next week, will also be supported by UniSat. It is now possible to conduct peer-to-peer transactions for free on the UniSat Ordinals Marketplace.

Kain Warwick, Founder of Synthetix Presents SIP-2043 

In SIP-2043, the founder of Synthetix, Kain Warwick, suggests eliminating the weekly SNX inflation rate to bring a stop to the SNX inflation proposal. Since the inflation rate is currently in the low single digits, he thinks that the SNX inflation incentives are no longer effective and have lost all value for stakers.

Community Suggests Osmosis and Umee UX Chain Merger

A community proposal was started by MasterFrenchie on December 4th, which proposed merging Umee UX Chain, a lending protocol, with Osmosis, the top DEX in Cosmos.

Podcasts and Interviews

  • Interview with Kartin Wong, founder of Hyper Oracle
  • “Are Crypto Games Making a Comeback?” podcast by Bankless
  • “This Crypto Is THE NEXT ETHEREUM!?” podcast by Altcoin Daily

Job Listings

2k23 Events

  • EF’s Next Billion fellowship cohort 4 deadline is January 15, 2024
  • ETH Cinco de Mayo hackathon (Cholula, Puebla) from February 2 to February 4
  • ETHDenver BUIDLWeek & hackathon from February 25 to March 3
  • ETHLatam (San Pedro Sula, Honduras) from March 13 to March 14
  • ETHGlobal London from March 15 to March 17

As we wrap up another week of insights and discoveries, remember that staying informed and motivated is an ongoing journey. WeekInFocus by CoinCodeCap is here to accompany you on this path, bringing you a fresh perspective on the news, a doorway to exciting job possibilities, and a collection of thought-provoking podcasts. Let’s embrace the coming week with curiosity and determination. Until next time, keep focused and keep thriving!

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