CoinCodeCap WeekInFocus: November 19, 2023

Share IT

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.



Spanish Regulatory Authority Hints at Possible Investigation of Crypto Ads on X

  • The main financial authority in Spain denounced the phony promotions for cryptocurrency assets on X and reaffirmed that businesses must abide by local regulations.
  • Valbuena reminded the audience that “internet companies, media, and social networks” are required by Spanish law to take action against unregistered entities that promote investments.

Crypto Advocacy Group Resists Proposed IRS Rules on Brokers

  • In a letter of comment, the Blockchain Association mostly opposed the tax legislation that the IRS had proposed.
  • The Blockchain Association criticized the idea, stating that many players in the cryptocurrency field would find it difficult to follow the rules if they were implemented.

Democratic Party of Korea Mandates Election Candidates to Disclose Crypto Holdings

  • Reportedly, the crypto holding disclosure will be integrated into the party’s candidate screening process.
  • In May, the National Assembly of South Korea passed a bill unanimously mandating lawmakers to report their cryptocurrency holdings.

New York Regulators Unveils Stricter Criteria for Crypto Listings

  • The financial regulator says that to better safeguard investors, guidelines for companies listing and delisting cryptocurrencies have been strengthened.
  • Cryptocurrency companies with an authorized coin listing policy are not allowed to self-certify any tokens.

IOSCO Unveils Global Policy Framework for Crypto Market Regulation

  • IOSCO aims to enhance the regulatory framework governing crypto markets.
  • Identified domains include conflicts of interest from vertical integration, market manipulation, insider trading, and fraud among others.

Ukraine Officials Receive Specialized Training for Crypto and Virtual Assets Investigations

  • At a training session, 14 Ukrainian officials received improved training on investigating modern-day financial crimes.
  • In collaboration with the UN Office on Drugs and Crime, the Office of the Co-ordinator of OSCE Economic and Environmental Activities coordinated the course.

Platform and Tokens

FTX Initiates Lawsuit Against ByBit, Alleging Irregularities in Asset Withdrawals

  • A lawsuit has been launched against ByBit, its investment arm Mirana, and several executives by the FTX bankruptcy estate.
  • ByBit and its executives withdrew assets worth around $1 billion from FTX in total.

Poloniex Hit by $126 Million Exploit, Offers Hacker 5% Bounty

  • Poloniex exchange grapples with a $100 million digital asset exploit, signaling a significant breach in its security.
  • Poloniex’s owner, Justin Sun, joins forces with fellow crypto exchanges to reclaim the stolen funds.

Bitget Abandons Crypto License Pursuit in Hong Kong

  • Bitget has canceled its plans to apply for a Hong Kong VATP license, citing concerns about the market and company.
  • Bitget would have to permanently leave the Hong Kong market because it chose not to submit an application for a VATP license.

Taiwanese Crypto Platform Bitgin Faces Money Laundering Probe

  • The police in Taiwan are looking into the cryptocurrency exchange Bitgin for possible money laundering.
  • The exchange stated that its operations “are normal and user rights will not be affected” in a statement on November 13.

Crypto Custodian Hex Trust Secures Virtual Asset License from Dubai’s VARA

  • The approval allows Hex Trust to provide virtual asset custodial services to institutional clients and investors in Dubai.
  • In February, the firm obtained a Minimal Viable Product (MVP) operational license.

Judge Dismisses Class Action in Tether and Bitfinex Lawsuit

  • U.S. Southern District Court dismisses class-action lawsuit against Tether and Bitfinex, confirms stablecoin issuer.
  • Plaintiff chooses not to appeal after the judge denies motion to amend, states Tether.

Project Updates

Launch of ZK L2 Network X1 by OKX in Partnership with Polygon

Leaked website material indicates that OKX exchange and Polygon will work together to introduce X1, a Layer 2 network powered by ZK technology and using OKB as its native token, on November 14.

FriendsTech Feed Feature was introduced by Friend.Tech

The FriendsTech Feed feature, a global-ranked text feed with a process akin to X tweets, was unveiled by Friend.Tech on November 17. Messages with a character limit can be edited and posted by users.

PancakeSwap announces the launch of its gaming marketplace

The PancakeSwap Gaming Marketplace, which enables independent game developers to make, release, and maintain games directly on their platform, was officially unveiled by PancakeSwap on November 15. Pancake Protectors and Pancake Mayor are the two games that have been released thus far. At the moment, PancakeSwap is running on nine distinct blockchains.

Podcasts and Interviews

  • Interview with Kartin Wong, founder of Hyper Oracle
  • “Bitcoin Trading Expert” podcast by Altcoin Daily
  • “The Chopping Block” podcast by Unchained Crypto

Job Listings

2k23 Events

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!

Share IT

Get Daily Updates

Crypto News, NFTs and Market Updates

Can’t find what you’re looking for? Type below and hit enter!