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The Australian government is prepping with plans to extensively reform the crypto industry within the nation’s borders. Licensing Requirements The forthcoming regulations contain new tax measures as well as guidelines for the operations of crypto brokers and exchange platforms. They will also be used to help bolster the safety of investor funds. According to treasurer Josh Frydenberg, imposing strict taxes on crypto transactions within the country is a necessary move. Frydenberg stated that Australia's crypto sector is rapidly expanding; more…

Get the weekly summary of crypto market analysis, news, and forecasts! This Week’s Summary The Crypto Market ends the week at a total market capitalization of $1,861 trillion. Bitcoin is up by roughly 6% after a good week. Ethereum increased by almost 11% during the past seven days. XRP gained almost 3% in value in the past week. Almost all altcoins are trading in the green and still enjoying a favorable period. The DeFi sector added roughly $5 billion to…

LCX, the Liechtenstein Cryptoassets Exchange, has announced a new initiative to tokenize diamonds as Tiamonds NFTs. Instead of holding the genuine gemstone, investors can own its blockchain representation and gain cryptocurrency for not selling it. This project should help average consumers learn more about tokenization and use this technology to earn a passive income. Furthermore, the fintech company puts forward 1 million TIA token rewards for those who buy and hold onto their Tiamonds. Diamond Tokenization Takes Off As the…

Universal Music Group is the latest institution to join the NFT project Bored Ape Yacht Club. The group’s Web3 label has purchased a Bored Ape character for 125 ETH, which is approximately $361,000.  UMG’s Unique WEB3 Label Universal Music Group's Web3 label, branded "10:22PM," is dedicated to "discovering, developing and empowering artists, digital creators, and brands".  General Manager of Commercial Content, Celine Joshua, launched the Web3 label in 2018. This was long before the NFT and Web3 media craze. Celine…

Through a sophisticated chain of transactions, an anonymous user cunningly grabbed $1.1 million from the ApeCoin Airdrop. Despite sticking to the allowed rules of purchase, the user managed to exploit the system. ApeCoin Launch On Thursday, the famous designers of the Bored Ape Yacht Club, Yuga Labs, launched an exclusive airdrop containing ApeCoin(APE) tokens. The launch notably spiked Ethereum gas prices barely hours after it began. Following the launch, designers Yuga Labs offered 15% of a billion ApeCoin tokens to…

According to a release from Ukraine’s Ministry of Digital Transformation, President Zelenskyy signed off on a law legalizing the country’s crypto sector. Overseeing the New Regulation In view of the crypto donations pouring into the nation late, Ukraine’s “On Virtual Assets” law could not have come at a more opportune time. The nation has received about 100 million USD worth of cryptocurrency since Russia’s invasion in February. The newly signed bill elevates crypto to a legal asset class while endorsing…

Reta Wars is a simulation game that promotes a unique play-to-earn (P2E) model with elements of NFT and DeFi. The project aims to provide a full-fledged GameFi experience with multiple gaming features, including role-play, growth, competition, and chance. The P2E gaming market is emerging as one of the most attractive blockchain-based sectors. However, many of its projects maintain a company-customer relationship, which is increasingly costly for the players. Many of these games could face sustainability and scalability issues in the…

Elizabeth Warren – Democratic Senator from Massachusetts – has introduced a new bill titled the ‘‘Digital Asset Sanctions Compliance Enhancement Act of 2022’’ to congress. Co-authored and signed by over 10 other Democrats, the bill proposes far-reaching measures to ensure sanctioned Russian entities don’t use cryptocurrency to bypass trade restrictions. However, a new non-profit crypto policy think tank – Coin Centre – has sounded the alarm on some “unconstitutional” measures within the bill. Targeting “Transaction Facilitators” The bill has been…

The bombshell drop of the APE token sent ripples across the crypto world - with a noticeable effect on ETH gas prices. Yuga Labs, the creator of the Bored Ape Yacht Club (BAYC) NFTs, has issued its own crypto token. As announced on Wednesday, the new ERC-20 token is called ApeCoin ($APE). We’re excited to announce we’re adopting ApeCoin as the primary token for the Bored Ape Yacht Club ecosystem as well as future Yuga products and services. The newly…