Regulation news
- Thailand’s Ministry of Digital Economy and Society (DES) is asking a court to prepare an order to close Facebook in the country if the platform doesn’t reduce the number of ads containing investment scams, including crypto.
- Komainu, the cryptocurrency custody joint venture, received an operating license from the Virtual Asset Regulatory Authority in Dubai.
Blockchain news
- The Terra blockchain temporarily shut down its website to protect users from phishing scams.
- Phantom, a crypto and NFT wallet app, launched the ‘Sign In With Solana’ feature to securely authenticate users with just a Solana address.
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Legal news
- China sentenced a former official to life imprisonment for corruptive activities, some of which were crypto-mining-related.
Exchange news
- Binance warned users about a project lying about having a partnership with the exchange.
Investment news
- BingX, a crypto exchange, announced an investment in Moonbox, an AI and Web3 startup, to fuel applications for the evolving Web3 and NFT ecosystem.
Hot Take
Regulators are cracking down on the crypto industry, with Thailand seeking to close Facebook due to investment scams, and China sentencing an official for corruptive activities. However, there are also positive developments, such as Komainu receiving an operating license and Phantom launching a secure authentication feature. It’s crucial for users to stay vigilant and avoid falling for scams. As the crypto industry continues to grow, it’s important for regulators to strike a balance between protecting investors and fostering innovation.
