CoinCodeCap WeekInFocus: December 17, 2023
WeekInFocus is your ally, filling in the gaps in news you may have missed over the past week. Additionally, it acts as a catalyst for professional and personal development by introducing you to new ideas and exciting career opportunities. Join us in accepting both what is happening and what you can imagine.
News
global
South Korea exempts NFTs and CBDCs from cryptocurrency interest obligations
According to a notice released by the FSC, digital asset investors will have until July 2024 to earn interest when depositing cash on exchanges.
Domestic regulatory authorities have established not only the classification of virtual assets, but also methods for managing customer deposits for virtual asset providers.
El Salvador’s Bitcoin Bond Secures Regulatory Approval, Targets First Quarter Launch
El Salvador’s highly anticipated ‘volcano bond’ is expected to debut in early 2024 after receiving regulatory approval.
The bonds will be issued on the Bitfinex Securities Platform, a blockchain-based stock and bond trading platform registered in El Salvador.
Partnership signed between Saudi Aramco and Japan’s SBI Eyes for digital asset investment
Saudi Aramco and Japan’s SBI Holdings are considering collaboration on initiatives related to semiconductor manufacturing and digital asset investments.
They can find companies in Japan’s digital asset space interested in growing to Saudi Arabia and starting semiconductor manufacturing operations there.
FASB Introduces New Standards to Strengthen Crypto Asset Disclosure
FASB confirms adoption of ‘fair value’ methodology for corporate cryptocurrency holdings.
Starting December 15, 2024, companies will be able to utilize fair value accounting for certain cryptocurrencies on their balance sheets.
Taiwan launches investigation into cryptocurrency betting on election results: Report
Taiwanese citizens have been advised not to utilize cryptocurrency betting platforms to bet on the outcome of the upcoming presidential election.
According to recent local stories, several Taiwanese citizens have used decentralized betting website Polymarket to bet on the next presidential election.
Platform and Token
Tether announces wallet freeze policy for individuals subject to OFAC sanctions.
Stablecoin issuer Tether said it was taking a voluntary approach to wallet freezes as part of its ongoing efforts to cooperate with regulators.
This list includes both individuals and companies owned or controlled by sanctioned countries.
Venus Protocol Recovers $270,000 Following Pricing Oracle Flaw
Twitter users pointed out isolated pools being exploited in the Venus Protocol for liquid staked BNB.
A short-term price discrepancy occurred at Binance Oracl, which is responsible for price feeds from the isolated pool.
KuCoin Settles $22 Million Lawsuit with New York and Announces Withdrawal from the State
As part of the settlement, KuCoin will pay $22 million and terminate access for New York users.
KuCoin will repay $16.77 million to New York customers and pay an additional $5.3 million to the New York State Attorney General.
Immortal Game Abandons Cryptocurrency Integration Due to Concerns About Rampant Cheating
Platform No Longer Accepts Native Checkmate Tokens, Disbanding NFT Marketplace
Immortal Games will stop paying out cryptocurrency prizes to tournament winners.
Montenegro extends Kwon Do-gwon’s detention at U.S. and South Korea request
Mr. Dokwon is expected to remain in detention in Montenegro until February.
Mr. Do-Kwon is being prosecuted in the United States and South Korea for his involvement in Terra’s demise.
DOJ indicts 2 for $25 million AI cryptocurrency trading fraud
The US DOJ has indicted two people on charges of running a $25 million AI cryptocurrency trading Ponzi scheme.
The defendants are accused of using a cryptocurrency mixer to avoid detection and using cross-chain swaps to disguise victims’ cryptocurrency investments.
OKX decentralized exchange faces $2.7 million hack
OKX DEX experienced an exploit suspected of leaking the private keys of the proxy manager owner.
This exploit occurred during a DEX proxy contract upgrade, allowing the attacker to leverage the ClaimTokens functionality directly.
Project updates
Solana, DEX trading volume surpasses Ethereum on the 16th
Solana’s DEX trading volume on December 16 was approximately $1.475 billion, according to DefiLlama data. This amount exceeds the Ethereum DEX’s trading activity of $1.164 billion that day and is approximately four times the total value locked (TVL) of the Solana DEX.
Worldcoin unveils World ID 2.0, protocol upgrade
With the release of World ID 2.0, Worldcoin has improved the protocol in a number of ways, including allowing applications and returning Orbs if World ID is lost due to self-reset.
Podcasts and Interviews
Interview with Hyper Oracle Founder Kartin Wong
“Bitcoin’s Big Shock Is Here” Podcast with Lark Davis
“The Fair Value of Bitcoin” Podcast with Scott Melkar
Job information
Senior Full Stack Developer | Enya Lab
Senior Operations Security Specialist | Ethereum Foundation
Senior Security Engineer | Enya Lab
Smart Contract Auditor | nethermind
Senior Solidity Engineer | ebay
2k23 event
The deadline for EF’s Next Billion Fellowship Cohort 4 is January 15, 2024.
ETH Cinco de Mayo Hackathon (Cholula, Puebla) – February 2 to February
ETHDenver BUIDLWeek & Hackathon runs from February 25th to March 3rd.
ETHLatam (San Pedro Sula, Honduras) March 13 – March 14
ETHGlobal London from March 15 to March 17
As we conclude another week of insight and discovery, remember that staying informed and motivated is an ongoing journey. CoinCodeCap’s WeekInFocus accompanies you on this path, providing fresh perspectives on news, doors to exciting career possibilities, and a collection of thought-provoking podcasts. Let us face the coming week with curiosity and determination. Until next time, stay focused and keep thriving!
