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Table of Contents
News
Global
South Korea Exempted NFTs and CBDCs from Crypto Interest Mandate
- Investors in digital assets must get interest when depositing their cash into an exchange by July 2024, according to a notification released by the FSC.
- The South Korean regulator not only classified virtual assets but also established how to manage customer deposits for virtual asset providers.
El Salvador’s Bitcoin Bond Secures Regulatory Nod, Aims for Q1 Launch
- The much-awaited “Volcano Bonds” from El Salvador are apparently set to debut in early 2024 after receiving regulatory approval.
- The bond will be issued on the Bitfinex Securities Platform, an El Salvador-registered trading platform for blockchain-based stocks and bonds.
Japan’s SBI Eyes Partnership with Saudi Aramco for Digital Asset Investment
- Saudi Aramco and SBI Holdings of Japan are contemplating collaborating on initiatives related to semiconductor manufacturing and digital asset investing.
- They might locate firms in the Japanese digital asset space that are interested in growing to Saudi Arabia and starting semiconductor manufacturing operations there.
FASB Introduces New Standards to Enhance Crypto Asset Disclosure
- FASB Affirms Adoption of ‘Fair Value’ Methodology for Corporate Cryptocurrency Holdings.
- Starting from December 15, 2024, companies can utilize fair-value accounting for specific cryptocurrencies on their balance sheets.
Taiwan Initiates Investigation into Crypto Betting on Election Results: Reports
- Taiwanese citizens have been advised against utilizing crypto-betting platforms to place bets on the results of the forthcoming presidential election.
- A recent local story claims that several Taiwanese nationals have bet on the next presidential election using the decentralized betting website Polymarket.
Platform and Tokens
Tether Unveils Stringent Measures: Wallet-Freezing Policy for OFAC-Sanctioned Individuals
- Stablecoin issuer Tether stated that it is taking a voluntary approach to wallet freezing as part of its ongoing efforts to collaborate with regulatory bodies.
- The list includes both individuals and businesses that are owned or controlled by sanctioned nations.
Venus Protocol To Recover $270,000 Following Price Oracle Glitch
- Twitter users pointed out an exploited isolated pool on Venus Protocol for liquid-staked BNB.
- A short-term price discrepancy occurred with the Binance Oracl, which is responsible for price feeds in an isolated pool.
KuCoin Settles $22 Million Lawsuit with New York, Announces Exit from State
- KuCoin will pay $22 million and end access for users in New York as part of a settlement.
- KuCoin is set to reimburse New York customers with $16.77 million and pay an additional $5.3 million to the State of New York’s Attorney General.
Immortal Game Abandons Crypto Integration, Citing Rampant Cheating Concerns
- Platform to no longer accept its native Checkmate token and dismantle its NFT marketplace
- Immortal Games to cease rewarding tournament winners with crypto prizes
Montenegro Extends Do Kwon’s Detention Amidst US and South Korea Requests
- Do Kwon is apparently going to remain in Montenegrin detention until February.
- Do Kwon is facing charges in both the US and South Korea about his purported involvement in the demise of Terra.
DOJ Indicts Two in $25M AI Crypto Trading Scam
- The US DOJ has charged two people with running a $25 million AI cryptocurrency trading Ponzi scheme.
- The defendants are charged with using crypto mixers to avoid discovery and interchain swaps to disguise the victims’ cryptocurrency investments.
OKX Decentralized Exchange Faces $2.7 Million Hack
- OKX DEX experienced an exploit linked to a suspected leak of the proxy admin owner’s private key.
- The exploit took place during the upgrade of the DEX Proxy contract, allowing attackers to directly utilize the claimTokens function
Project Updates
On Solana, DEX Trading Volume Exceeds Ethereum on the 16th
The DEX trade volume on Solana on December 16th was roughly $1.475 billion, according to DefiLlama data. This amount exceeds the $1.164 billion in trade activity on Ethereum’s DEX that day and is roughly four times the TVL (Total Value Locked) on Solana’s DEX.
Worldcoin Unveils World ID 2.0, an Upgrade to the Protocol
With the release of World ID 2.0, Worldcoin has improved the protocol in a number of ways, including allowing applications and returning Orb in the event that a World ID is lost for self-reset.
Podcasts and Interviews
- Interview with Kartin Wong, founder of Hyper Oracle
- “Bitcoin’s Big Shock Is Here” podcast by Lark Davis
- “Bitcoin’s Fair Value” podcast by Scott Melkar
Job Listings
- Senior Fullstack Developer | Enya Labs
- Senior Operations Security Expert | Ethereum Foundation
- Lead Security Engineer | Enya Labs
- Smart Contract Auditor | Netherminds
- Lead Solidity Engineer | Ebay
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!
