Another Regulatory Challenge for DeFi, El Salvador Seeks Help from Binance + More News

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Get your daily, bite-sized roundup of crypto assets and blockchain-related news, digging into the stories flying under the radar in today’s crypto news.


Regulation News

  • the International Organization of Securities Commissions (IOSCO) established a new working group “to take timely and coordinated policy measures to adequately address the risks arising from” DeFi. IOSCO said doubt that DeFi is a peer-to-peer market with no centralized insiders in control. “By looking in detail at how DeFi works, it identifies the core players that <...> they often retain control, for example through the distribution of ‘governance tokens,'” they said, adding that it “also highlights the important role played by centralized trading platforms that often face significant conflicts of interest.”
  • the Bank of England (BoE) set that as crypto markets and activities grow, they will need better law enforcement and regulatory frameworks in the UK and elsewhere. They added that the UK Financial Policy Committee (FPC) is monitoring a number of channels through which crypto asset markets and activities could present risks to the financial stability of the UK.
  • Malaysia has no intention of recognizing crypto assets as legal tender, Bloomberg reported, citing Deputy Finance Minister Mohd Shahar Abdullah. The minister added that “several limitations” made crypto assets unsuitable for this task.
  • the Central Bank of Honduras issued a statement clarifying that Bitcoin (BTC) it is not regulated as currency there. The announcement reminds the public that the central bank of Honduras is the only entity that can legally issue bills and coins within the country’s borders and that the Lempira is the national currency.

investment news

  • The Savior is looking for support from crypto exchange Binance for its implementation of bitcoin as legal tender and the issuance of bitcoin bonusesReuters reported, citing the country’s ambassador to the United States, Milena Mayorga. Binance CEO Changpeng Zhao is visiting the country and plans to meet with President Nayib Bukele today, she added.
  • financial services company cow Announced the launch of its digital asset division digital cow. The new division offers access to crypto-related custody and trade execution solutions for institutional assets.
  • shared computing network Salad announced that it has raised $17 million in a Series A funding round co-led by Left Lane Capital and Companies of origin. The funds will be used to scale its cloud infrastructure and develop a new vertical company, they added.
  • Phi Laboratoriescollaborator of the arc protocol which serves as a cosmos (atom)-based protocol to reward creators of decentralized applications (dapp) on the network, Announced a $21 million seed funding round co-led by CoinFund and sliced.

adoption news

  • australian bank ANZ Announced has launched an Australian dollar-backed stablecoin called A$DC, which it says it believes is the first such asset issued by an Australian bank. A$DC will be programmable to the needs of its institutional clients, rather than a retail approach, they added.
  • A survey by crypto platform KuCoin found that 44% of Germans surveyed are “motivated to invest in cryptocurrencies to be part of the future of finance.” 16% of those surveyed have already invested, while 41% of these investors intend to increase their share of investments over the next six months. The company surveyed 1,002 German adults from October 21 to November 1, 2021.

news exchanges

  • Integrated financial technology company alvière Announced an association with coinbase firsta service from one of the leading crypto platforms base of coinsto provide crypto services on Alviere’s integrated financial platform, Beehive. The new Alviere Crypto Services aims to launch in the US under its state-by-state money transmission licenses, with international expansion to other markets to follow.

game news

  • game developer KRAFTON Announced a commercial agreement with Solana Laboratoriesthe team behind the Sunshine (SUN) blockchain, to support the design and marketing of blockchain-based games and services. They added that the focus will be on “various blockchain technologies,” but did not disclose any specific new projects.

nft news

  • Japanese courier giant LINE has as purpose launching his NFT nicknamed market NFT LINE on April 13. In addition, the company said that launching a global NFT platform called DOSE in the first half of this year, which will be supported by 180 countries (excluding Japan) and powered by 26 partnerships with companies from various industries.
  • english football club Liverpool F.C. Announced his debut NFT collection called LFC Heroes Club in association with the auction house Sotheby’s. Owners of the NFTs will gain access to “current and future immersive experiences,” the team said, without specifying.

career news

  • Crypto Wealth Management Platform open Announced the appointment of Justin McMahan, formerly of the trading firm Tower Research Capital, as Chief Financial Officer, effective immediately. The company added that its number of active users grew more than 300% in 2021 from the previous year, while transaction volume increased more than 660% during the same period.
  • payment giant VisaDaniel Mottice’s Crypto Products Leader left the company for the payment firm he co-founded and where he serves as CEO, called Ansible Labs.
  • Crypto payment infrastructure provider MoonPay announced the appointment of James Freis, former director of the US Treasury Department‘s Financial Crimes Enforcement Network (FinCEN), as Special Advisor for Global Financial and Regulatory Affairs.