Zephyrnet Logo

Generative Data Intelligence

Blockchain

Weekly Update #33

Republished By Plato
Republished By Plato

Date:

Views: 77

Weekly Update #33

December 13, 2023

CipherTrace

MARK COLLINS & DEMETRIOS TSEAS

Regulatory:

France’s Société Générale issues a first digital green bond on Ethereum: On Dec 4, Société Générale(SG) announced it has issued its first digital green bond as a Security Token directly registered by SG-FORGE, a regulated subsidiary of the SG group that provides Digital Assets structuring, issuing, exchange and custody services licensed as an investment firm and authorized to provide MiFID 2 investment services under the supervision of ACPR and registered as a Digital Asset Service Provider (DASP) with the AMF. This inaugural operation is structured as a EUR 10m senior preferred unsecured bond with a maturity of 3 years. An amount equivalent to the net proceeds of this bond will be exclusively used to finance or refinance Eligible Green Activities, as defined in the Sustainable and Positive Impact Bond framework of SG.

Binance withdraws its application for a license in Abu Dhabi: On Dec 8, Binance reportedly withdrew its application for an investment management license in Abu Dhabi, having deemed it unnecessary to the company’s global needs. The exchange still has an application to offer custody of digital assets to professional clients, according to its website. The decision to pull the license application was “unrelated” to the U.S. settlement, the Binance spokesperson reportedly said. One day earlier on Dec 7, a US federal judge reportedly ordered that former Binance CEO Changpeng Zhao must remain in the U.S. while awaiting sentencing, determining theirs is too much of a flight risk.

Ordinals added to National Vulnerability Database: The National Vulnerability Database (NVD) identified Bitcoin’s inscriptions as a cybersecurity risk, revealing a “flaw” exploited by the Ordinals Protocol in 2022. The vulnerability, allowing data masking as code in certain Bitcoin versions, is under analysis and could lead to blockchain spamming, impacting network size and performance.. The Ordinals Protocol’s popularity increased data embedding in Bitcoin transactions, causing network congestion. NIST

CZ ordered to remain stateside prior to sentencing: Binance founder CZ has been ordered to remain in the United States until his sentencing in February, as a federal judge deems him a flight risk due to substantial wealth and property abroad, coupled with no ties to the U.S. Zhao, who pleaded guilty to money laundering, faces up to 18 months in prison and has agreed not to appeal any sentence up to that length; the judge granted the government’s motion, stating that Zhao has not provided clear evidence he is not likely to flee to the United Arab Emirates, where he resides. CoinDesk

Taiwan publishes CBDC study: Taiwan’s central bank has completed a feasibility study on wholesale central bank digital currency (CBDC) and is actively considering its implementation, seeking feedback from businesses and academics. Deputy Governor Mei-lie Chu emphasized the advantages of CBDCs and tokenization of real-world assets, particularly with unified ledger technology, as part of the country’s broader Banking 4.0 initiative, incorporating AI and advanced digital technology into banking.

US, Japan, South Korea hold security summit on North Korea: National security officials from the U.S., South Korea, and Japan held discussions in Seoul regarding North Korea’s crypto thefts and its nuclear and ballistic missile programs. The meeting focused on trilateral initiatives, including efforts to respond to North Korea’s use of cryptocurrency to fund its illicit weapons of mass destruction programs, as well as addressing the country’s relationship with Russia. White House

Crypto News:

Despite making Bitcoin legal tender, adoption in El Salvador lags: Although El Salvador’s government promotes widespread cryptocurrency adoption, a recent CoinGecko report highlights the country’s limited number of crypto owners, with approximately 1.72% of its population owning Bitcoin. El Salvador ranks 55th on the global crypto adoption index, trailing behind nations with higher growth rates in crypto ownership. CoinGecko

Block introduces new Bitcoin hardware wallet: Financial payment processor Block has introduced “Bitkey” a self-custody Bitcoin wallet available as a mobile app or hardware storage in over 95 countries. Priced at $150 and featuring a two-of-three multi-signature setup, Bitkey requires a mobile key, a hardware key, and a server key, with both user fingerprint and phone approval for transactions. Bitkey

IBM introduces new cold storage solution: IBM has introduced the IBM Hyper Protect Offline Signing Orchestrator (OSO), a new technology designed to deploy cold storage solutions for digital assets. OSO automates transactions, addressing limitations in traditional cold storage by employing a time-release mechanism and a policy engine, reducing the risk of insider attacks and human errors associated with manual procedures, making it an efficient and secure solution for digital asset transactions. IBM

Bitzlato founder agrees to dissolve exchange: Anatoly Legkodymov, co-founder of Hong Kong-based crypto exchange Bitzlato, has pleaded guilty to operating an unlicensed money transmitter that processed funds from ransomware attacks, illicit drug deals, and other crimes. Legkodymov, who is a majority owner in the exchange, agreed to dissolve Bitzlato, releasing claims over approximately $23 million in seized assets; Bitzlato had been sanctioned by the U.S. government in January for allegedly laundering around $700 million worth of funds, with the Treasury Department designating it as a “primary money-laundering concern.” DOJ

spot_img

Latest Intelligence

spot_img

Copyright @ 2024 Plato Technologies Inc.