Crypto services in the U.K. will face stricter regulations, including a “cooling-off period” for first-time investors and a ban on “refer a friend” bonuses. In a June 8 announcement, the United Kingdom’s Financial Conduct Authority (FCA) said that from Oct. 8, advertisers of crypto services in the U.K. would be subjected to stricter regulations. The...Continue Reading

BNB is clinging on to its short-term bullish bias amid the Binance-SEC fiasco but a 30% price decline is still on the cards. The market capitalization of BNB (BNB) has dropped by more than $7 billion since June 5 when the U.S. Securities and Exchange Commission (SEC) filed a lawsuit against Binance. BNB price eyes...Continue Reading

The EU’s EBSI Vector project and blockchain service provider, Protokol, are creating a blockchain-based cross-border credential verification program for EU citizens. The European Commission has moved to impleme educational and professional credentials will be verified across borders. In an announcement on June 7, the Web3 and blockchain solutions provider, Protokol, revealed a collaboration with EBSI...Continue Reading

U.S.-based Web3 companies and cryptocurrency exchanges could be pushed offshore following enforcement actions against Coinbase and Binance.US. The United States could risk an exodus of major Web3 and cryptocurrency service providers as the Securities and Exchange Commission (SEC) takes action against Coinbase and Binance. Sergej Kunz, a co-founder of decentralized finance (DeFi) protocol 1inch Network, believes the SEC’s...Continue Reading

The regulator stepped up enforcement actions in the crypto space following the revelations that took place around FTX. Cryptocurrency-related enforcement actions undertaken by the United States securities regulator significantly increased in the six months following the bankruptcy of cryptocurrency exchange FTX. An analysis of press releases from the Securities and Exchange Commission (SEC) and news...Continue Reading

The U.S. House Committee explores blockchain and Web3’s future as industry leaders testify on democratizing the internet and regulatory challenges. The United States House of Representatives Energy and Commerce Committee’s Subcommittee on Innovation, Data and Commerce gathered to discuss blockchain technology and the future of Web3 on June 7. Crypto industry members, including Polygon Labs president...Continue Reading

Enjin CTO Witek Radomski said that the new blockchain aims to promote creativity by facilitating the easy and affordable creation and distribution of NFTs. Nonfungible-token (NFT) protocol Enjin has announced its transition into a new mainnet called “Enjin Blockchain” with the aim of furthering Web3 adoption. Following the transition, its Polkadot parachain called Efinity has...Continue Reading

The largest European consumer rights group alleges crypto marketers on popular social networks use misleading promotion, exposing consumers to serious harm. On June 8, the European Consumer Organisation (BEUC) — an umbrella group for 46 independent consumer organizations from 32 countries — published a report titled: “Hype or harm? The Great Social Media Crypto Con.“ In...Continue Reading

The DeFi community funded the protocol’s legal defense through a $1.4 million nonfungible token sale back in 2022. A United States federal judge has recently dismissed the lawsuit against the decentralized finance (DeFi) platform PoolTogether. According to the ruling, the federal court system is not the correct place to air out concerns against the DeFi...Continue Reading

The executive, once instrumental to the company’s NFT efforts, was “terminated” amid lackluster Q1 earnings. GameStop has fired its CEO Matt Furlong, the executive responsible for launching the company’s push into nonfungible tokens (NFTs). According to a June 7 statement, Furlong was terminated, while Ryan Cohen — a billionaire investor held in high esteem by...Continue Reading