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Crypto.com has received a Wells Notice from the SEC, indicating potential enforcement action. It has filed a lawsuit against the agency, accusing it of unjust regulation. This development highlights the ongoing tensions between the crypto industry and US regulators, as Crypto.com joins other firms in challenging the SEC's regulatory tactics.
South Korea's Financial Services Commission plans to regulate cross-border stablecoin transactions, including dollar-pegged coins, under foreign exchange rules. The country will consult with Japan, the EU, and other jurisdictions, aiming to ensure stablecoin transaction soundness and establish a legal framework, beginning with won-pegged tokens.
Jupiter has launched a mobile app for Solana users that offers zero platform fees, one-tap swaps, and built-in crypto on-ramping through Apple Pay, credit cards, and more. The app provides an effortless trading experience with automatic handling of slippage and transaction retries. It is now available on iOS, with Android support coming soon.
Alchemy Pay's virtual card service is now integrated with Samsung Pay, allowing users to make crypto payments in-store and online at various retailers. This integration comes after a recent update to include Google Pay and expands Alchemy Pay's reach, offering quick, seamless crypto transactions to its users through major mobile payment platforms.
A new prediction market competitor could create a unique value proposition by creating non-binary outcomes for predictions, introducing permissionless markets, leverage, and institutional market makers. With the election being the primary driver of attention and volume on Polymarket, it must have a solid strategy for remaining relevant after November, including having copy trading, leaderboards, social features, and betting on more culturally relevant topics. Monetizing the data could prove lucrative.
In a recent research report around web3 gaming, 10% of respondents cited the complexities of crypto wallets as a primary deterrent keeping them from trying web3 games. 7% didn't understand the value proposition, 2% are happy with web2 games, and 9% stated it does not appeal to them. Nearly 60% of web3 gamers said they played for airdrops, indicating a massive discrepancy between the stated goal of onchain games and their actual use case as a tool for speculation and play-to-earn mechanics.
Symbiotic X's social media account was compromised, leading to a phishing attack where users are being lured into connecting wallets to a fake site, potentially losing their tokens. Malware embedded in SVG image files has emerged as a new threat. These files infect users' computers and install remote access software to steal credentials and crypto assets. Crypto users should exercise caution when engaging with unfamiliar links and image files to avoid these evolving threats.
This conversation highlights a core debate around Ethereum's value proposition.
BitGo, the custodian of WBTC, has raised concerns about a new custody model that increases centralization and involves Tron founder Justin Sun.
EIP-7781 proposes reducing Ethereum block times from 12 seconds to 8 seconds, thus allowing for 50% more throughput.
Tether, the world's largest stablecoin issuer, is celebrating its 10th anniversary while taking steps to improve its U.S. image amidst ongoing scrutiny.