The Crypto Compass Issue #30

Binance secures first operational license in Dubai! Read it in our weekly newsletter now! Brought to you by BitcoinWalletSG.

Hey Friends!

Welcome back to this week's edition of The Crypto Compass. Let's unpack some of the biggest crypto headlines from the past week.

Binance Finds Foothold in Dubai

First up, we have Binance - the world's largest crypto exchange - making strides in the Middle East. Amid a backdrop of regulatory hurdles in Europe, Binance has managed to secure its first operational license in Dubai. This move marks a significant milestone for Binance, underscoring Dubai's status as a leading global hub for blockchain and cryptocurrency. It's noteworthy that while other regions tighten their regulatory grip, Binance finds solace in Dubai's crypto-friendly climate.

Worldcoin Under UK Watchdog's Eye

In another part of the globe, the UK's data watchdog, the Information Commissioner's Office (ICO), has announced that it will be making inquiries into the Worldcoin crypto project. Worldcoin has garnered attention for its ambitious plan to distribute a new cryptocurrency to every person on Earth. However, its method of using iris-scanning orbs has raised data protection concerns, hence the ICO's interest. We'll be keeping a close eye on this development.

Amazon's Blockchain Expansion

Last but certainly not least, we turn our attention to retail giant Amazon, who is expanding its managed blockchain services. Amazon's move to offer a scalable blockchain solution can provide a considerable boost to businesses looking to build blockchain networks and applications, thereby strengthening the blockchain ecosystem. This serves as another example of mainstream corporations seeing the potential of blockchain technology and integrating it into their business models.

That wraps up this week's edition of The Crypto Compass. As always, we'll be back next week with more updates and analysis from the world of crypto. Don't forget to share this newsletter with your crypto-curious friends and family. Until next time, stay safe, and happy trading!

Best,
Punk5558

Promoted

Notable News

Tether Excess Reserves increase by $850M to reach $3.3B as Leading Stablecoin Reveals $72.5B overall exposure in US T-Bills and Unveils Energy-Related Investments

tether-excess-reserves-increase-by-850m-to-reach-3-3b-as-leading-stablecoin-reveals-72-5b-overall-exposure-in-us-t-bills-and-unveils-energy-related-investments

tether.to/en/tether-excess-reserves-increase-by-850m-to-reach-3-3b-as-leading-stablecoin-reveals-72-5b-overall-exposure-in-us-t-bills-and-unveils-energy-related-investments

Securitize launches tokenized security in Europe

Securitize aims to be the first firm to offer tokenized security issuance and trading across the U.S. and Europe.

www.theblock.co/post/241382/securitize-launches-tokenized-security-in-europe

Binance secures first operational license in Dubai amid regulatory hurdles in Europe.

Following multiple setbacks with European regulators, Binance has become the first digital asset exchange to receive an Operational Minimum Viable Product (MVP) license from Dubai’s Virtual Assets Regulatory Authority (VARA). The news comes as the exchange faces regulatory challenges in several European territories, including Germany, the Netherlands, and the U.K. The Operational MVP license, issued […]

cryptoslate.com/binance-secures-first-operational-license-in-dubai-amid-regulatory-hurdles-in-europe

Regulatory News

Singapore court declares crypto as property in case involving Bybit

Singapore's High Court has deemed crypto as property in a case involving crypto exchange Bybit and a contractor.

www.theblock.co/post/241469/singapore-court-declares-crypto-as-property-in-case-involving-bybit

UK data watchdog to make enquiries about Worldcoin crypto project

Britain's data regulator said on Tuesday it will examine Worldcoin, a project by OpenAI CEO Sam Altman where users provide their iris scans in exchange for a digital identification and free cryptocurrency.

www.reuters.com/technology/uk-data-watchdog-make-enquiries-worldcoin-crypto-project-2023-07-25

Tech News

Curve Finance TVL falls over $1B following Vyper vulnerability exploit

DeFi project Curve Finance's TVL has tanked by nearly 50% following the exploits of several stablepools on July 30.

cryptoslate.com/curve-finance-tvl-halved-following-vyper-vulnerability-exploit

Amazon Expands Web3 Reach With Cloud Tools That Help Blockchain Developers

The tech giant moves deeper into Web3 infrastructure with AMB Access and Query services for developers.

www.coindesk.com/business/2023/07/27/amazon-expands-managed-blockchain-services

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