Austin, United States, April 26th, 2023, Chainwire
Space and Time, a leader in decentralized data, today announces the beta release of its data warehouse and developer suite. Space and Time allows developers to leverage provable computation against on-chain and off-chain data to power dapps, smart contracts and verifiable AI models.
As AI becomes increasingly integrated in modern business applications and processes, the Space and Time data warehouse aims to ensure that AI models are trained on accurate, verifiable, tamperproof data. To participate in the Space and Time beta, sign up through this link: https://www.spaceandtime.io/access-beta
Space and Time is a decentralized hybrid (HTAP) data warehouse that powers low-latency transactional queries and scalable analytics in a single cluster. Space and Time has developed a novel zero-knowledge proof called Proof of SQL, which cryptographically proves that query computation was done accurately and that both the query and the data are verifiably tamperproof.
Space and Time comes pre-loaded with blockchain data indexed from major chains, decoded and provided for free. The data warehouse also includes pre-built APIs for SQL operations, blockchain data, Kafka streaming and security, as well as a Tamperproof Python service for easily extracting, transforming and loading data or running complex computations.
“We are thrilled to open the Space and Time data warehouse and suite of data services to developers everywhere,” said Nate Holiday, CEO and Co-founder of Space and Time. “Space and Time is enabling a new era of data verifiability. As smart contracts and AI are increasingly integrated into business processes, Space and Time aims to ensure that they’re connected to and trained on verifiable data and computation.”
Space and Time’s dapp, a next-generation data frontend, provides a user-friendly interface for interacting with on-chain and off-chain data. OpenAI enabled, the dapp allows developers to easily generate SQL queries, Python scripts, streams, oracle jobs, smart contracts, dashboards, and more from simple natural-language inputs.
OpenAI, a Microsoft-backed AI research and deployment company, is already making waves beyond the tech industry. Earlier this year, management consulting firm Bain & Company announced a services alliance with OpenAI to offer AI capabilities to its global clients, including Coca-Cola.
“AI is shaping the future of business operations in an unprecedented way,” said John Kanan, Senior Partner at Bain & Company. “As we move further into the age of AI, enterprises need to develop a focused strategy for leveraging its benefits. The assurance that AI is being trained on verifiable data and computation should instill confidence in enterprises seeking to incorporate it into critical business processes.”
Space and Time is showcasing its newly launched data warehouse at this year’s Consensus conference in a live demo with Shrapnel, the highly anticipated blockchain-enabled AAA first-person shooter game. Attendees of the conference will be able to play the Shrapnel prototype as Space and Time generates live analytic insights around gameplay.
“Web3 analytics are going to be critical to the success of blockchain games and Space and Time has the best service available.” said Mark Long, CEO of Shrapnel. “Just like any Web2 free-to-play game, realtime analytics are how you improve the player experience. You need lightning-fast execution of data from on-chain transactions to in-game activity to leaderboards and more. And players want to know that all the data is accurate and verifiable. Space and Time is just the perfect complement to Shrapnel’s own blockchain and live-ops tech.”
Space and Time’s ability to join tamperproof on-chain and off-chain data and connect the results back to smart contracts enables new, robust possibilities for blockchain gaming. Space and Time can relay information to and from a game’s servers and its smart contract in real time, to improve the game’s recommendation engines and match-making, help players understand what NFTs, weapons, and upgrades they should be buying, and facilitate more complex earning schemes on-chain.
Space and Time Product Day, presented by HashKey Capital, is an exclusive event showcasing the latest cutting-edge technology in data warehousing and Web3. Product Day, which takes place on Wednesday, April 26 during the Consensus conference, will be followed by an open Space and Time Ecosystem Night presented by Chainlink.
About Space and Time
Space and Time is the first Web3-native decentralized data warehouse that joins tamperproof on-chain and off-chain data to deliver enterprise use cases to smart contracts. Space and Time has developed a novel cryptography called Proof of SQL℠ that allows developers to connect analytics directly to smart contracts, opening up a wealth of powerful new use cases and business logic on blockchain technology. Space and Time is built from the ground up as a multichain data platform for developers in financial services, gaming, DeFi, or any project requiring verifiable data across enterprise, blockchain and AI.
For more information, visit: Website | Twitter | Discord | Telegram | LinkedIn | YouTube
About Shrapnel
Shrapnel is the world’s first blockchain-enabled AAA first-person shooter game. Designed to reward and empower players and creators, the game is being developed by a BAFTA and Emmy award-winning team of game industry veterans with unmatched experience in transmedia, virtual production, gaming-as-a-service, and blockchain production. Spun-out from HBO Interactive, the acclaimed team have enjoyed past successes with some of the world’s leading game companies including Xbox, Electronic Arts, HBO, LucasFilm, Irrational, and Zombie Ent, working on titles such as Halo, Call of Duty, Star Wars, and many more.
For more information, visit: http://www.shrapnel.com
Contact
Spencer Reeves
marketing@spaceandtime.io
Abu Dhabi, Abu Dhabi, April 25th, 2023, Chainwire
Venom, a Layer-1 blockchain that operates out of the Abu Dhabi Global Market (ADGM), today announced that its public testnet is officially live. The milestone marks a significant accomplishment in Venom’s roadmap as it prepares to launch on mainnet. Along with the testnet launch, Venom has also unveiled a host of in-house developed decentralized applications as part of its growing ecosystem.
The testnet design suits both ecosystem users and developers. It enables developers to test and debug dApps and blockchain protocols, while allowing users to experience these dApps firsthand. The goal of the program is to encourage innovation and community building within the ecosystem.
Developers and users can try out the testnet in two simple steps. First, download the Venom Wallet on mobile via the Apple App Store or Google Play Store, or on the desktop as a Google Chrome extension. Secondly, users can jumpstart their journey of testing the Venom ecosystem by claiming a free testnet allocation.
“We’re excited to announce the launch of Venom’s public testnet, a crucial step towards our upcoming mainnet launch. With our highly scalable and reliable asynchronous blockchain, we’re confident that developers will be able to build innovative dApps, while users will be able to experience them firsthand,” said Peter Knez, Chair of the Venom Foundation Council.
Developers will be able to try their hand at building on the asynchronous Venom blockchain which boasts ultra-fast speed at 100k TPS, and a dynamic sharding feature that enhances scalability and network reliability. To kick things off, Venom has curated a repository of developer documentation to equip developers with the necessary tools and knowledge to start building.
Venom’s network boosts interoperability making it a viable tool for developers, while its low transaction fees makes it user-friendly for global adoption.
A host of dApps debut on the testnet
Several dApps are to make their debut on Venom testnet. Users can test them out by performing transactions, testing the native Venom wallet and much more.
- Venom Wallet
- Venom Scan
- VenomPools
- Venom Bridge
- Venom Stake
- Web3.World
- WeUp
- NFT Mint
- Oasis.Gallery
About Venom Foundation
Venom Foundation is licensed by the ADGM and enables the acceleration of global Web3 projects. The decentralized network operates under the jurisdiction of the Abu Dhabi Global Market (ADGM). The ADGM is an oasis for investors and financial services firms, positioning Venom as the world’s first compliant blockchain, affording authorities and enterprises the freedom to build, innovate, and scale.
A portfolio of in-house dApps and protocols has been developed on the Venom blockchain by various companies. With capabilities of dynamic sharding, low fees, ultra-fast speed and scalability, Venom harbors the potential to function as the main infrastructure for a global ecosystem of Web3 applications, possessing ultra-fast transaction speeds and infinite scalability to meet the demands of an ever expanding user base.
For more information about the Venom testnet launch, visit: Website
For more information about Venom Foundation, visit: Website | Twitter
Contact
Adam Newton
pr@venom.ventures
San Francisco, United States, April 21st, 2023, Chainwire
Introducing Flow: The Game-Changing NFT Ecosystem Set to Revolutionize the NFT Market. Aggregator Beta Launches on Ethereum Mainnet. Groundbreaking AI and Rollup-Centric Roadmap Unveiled; Anticipated Token Launch on April 30.
Flow’s aggregator makes NFT bidding a breeze with their groundbreaking “place bid once, buy from everywhere” technology. Flow’s powerful order matching and execution engines provide users a great UX while protecting them from frontrunners and unnecessary gas fees by routing transactions via Flashbots. With a $3M seed funding round led by Nima Capital and participation from Shima Capital and other industry heavyweights, Flow is poised to take the NFT world by storm.
“Flow is a great example of what people can build on top of Reservoir which aggregates liquidity from all marketplaces” said Peter Watts, founder of Reservoir.
Developed by a team led by an ex-Googler and ex-Binance Labs incubee, Flow will soon integrate AI into its platform such as LLM-based NFT analytics solutions, cutting-edge agents to automate trading and tools for the community to create and deploy NFTs. The developers’ smart contracts already support the seamless automation of NFT trading actions.
As the blockchain world moves towards a modular, plug-and-play approach, Flow is perfectly positioned to create a modular NFT ecosystem.
“We are entering a modular world where execution environments, data availability, consensus and transaction sequencing are moving towards a plug-and-play model. NFT platforms built on this modular stack can leverage shared security from an underlying L1 while building fast, low cost NFT trading infrastructure and creator tooling. Flow’s matching and execution engines are well positioned for this future” said nneverlander, the project’s founder.
Flow is currently available on the Goerli testnet and in beta on the Ethereum mainnet. Those interested in contributing to the success of Flow can consider joining the ambassador program, which provides rewards for participation. This could be an opportunity to be a part of the future.
Users can stay updated on the much-anticipated token launch of Flow by following Flow’s journey on Twitter and joining the conversation on Discord. By following, users can get more information about the platform and its developments.
About Flow
Flow is a rollup-centric NFT ecosystem built for the modular future. Developed by a team with Google and Binance Labs backgrounds, Flow offers powerful order matching, execution engines, and LLM-based NFT analytics. As the blockchain world moves towards a modular, plug-and-play approach, Flow is well poised to create an NFT ecosystem by leveraging cutting edge tech capabilities offered by AI and the modular blockchain stack.
Contact
Founder
Flow team
Flow
a@flow.so
Singapore, Singapore, April 21st, 2023, Chainwire
MOOI Network, the blockchain ecosystem designed for game projects, is thrilled to announce the listing of its governance token, $MOOI, on MEXC Global, a prominent cryptocurrency exchange. The listing is scheduled for April 25 at 10:00 UTC and reflects MOOI Network’s commitment to lowering barriers for new users and providing accessible options for engagement within its ecosystem.
Company Background
MOOI Network was created by POST VOYAGER, a subsidiary of Cocone, a Japan-based avatar styling & gaming social app developer with users across 74 countries. Over the past 14 years, Cocone’s flagship projects have attracted over 130 million downloads and 4.7M monthly active users. Meanwhile, in 2022 the highest daily profit from selling digital beauty and fashion items topped $1.7 million.
MOOI Network
With Cocone’s roots in the Web2-based virtual world, MOOI Network was established to help the company’s Web3 transition. Since the launch of MOOI Network on June 30th, 2022, POST VOYAGER and Cocone have built an outstanding portfolio filled with high-quality gaming titles and dapps, including MetaLivly, PKCL Twins, ClawKiss, and JANKEN. At the heart of the MOOI Network’s economy is Jellyme, an NFT marketplace for blockchain-based games. Recently, the marketplace has seen a significant surge in popularity: according to DappRadar, the dapp’s usage was up 7,312% in April, reaching 11,630 weekly active wallets.
Bringing Access to the MOOI Ecosystem
MOOI Network remains dedicated to its mission of creating an open and inclusive metaverse world that is accessible to users from all backgrounds. The listing of MOOI on MEXC is a significant milestone for the project, and MOOI Network looks forward to introducing more ways to grow and expand its ecosystem by offering users a convenient and user-friendly way to participate in MOOI Network’s vision through the listing of MOOI on MEXC Global.
Recent Updates
Recently, MOOI launched the ‘Space Flea Market’ collection, featuring game items from Pokecolo, one of the Cocone’s legendary avatar services. This collection has consistently ranked in the top-5 DappRadar NFT collectibles chart for over a month, attracting thousands of new users to the Web3 space. This success has propelled MOOI’s marketplace, Jellyme, into the top 10 during March-April 2023, further solidifying MOOI’s ability to attract and engage a growing community of users.
Further Plans
Currently, MOOI Network is actively preparing for Q2 with upcoming exchange listings, on-ramp features, and other product launches. Stay tuned for exciting updates as MOOI Network continues to expand its offerings. In the long run, MOOI aims to become a first-tier game-tailored ecosystem, attracting fun and high-quality services to join Web3 and build thriving play-and-own economies using MOOI Network.
About MOOI Network
MOOI Network is creating a sustainable metaverse world by onboarding metaverse, GameFi, dApps, and NFT projects in a seamless way, providing a crypto wallet, NFT marketplace, and swap all within its ecosystem. MOOI Network ensures bringing in projects that are high-quality and provides a seamless onboarding experience.
To learn more about MOOI visit:
Official website | NFT Marketplace- Jellyme | Medium | Discord | Twitter
Contact
Head of Business Planning
Oleg Smagin
POST VOYAGER
ml_media@postvoyager.com
New Jersey has emerged as a trailblazer in the online gambling industry, with recent reports highlighting a remarkable surge in internet gambling revenues. In a testament to the rapid growth of the sector, the state’s casinos and racetracks saw their online gambling revenues more than double in January compared to the previous year.
The increase in online gambling activity can be attributed to several factors, including the ongoing COVID-19 pandemic, which has prompted many individuals to seek alternative forms of entertainment as they spend more time at home. Additionally, the expansion of legalized online gambling options has played a significant role in drawing more players to the virtual tables.
New Jersey’s Division of Gaming Enforcement reported that the state’s internet gambling revenues reached a staggering $123.1 million in January, representing an impressive 119.6% increase from the same month last year. This growth is particularly noteworthy when compared to the modest 4.4% increase in overall gambling revenues, which includes both land-based and online operations.
The surge in online gambling revenues has been a boon for the state, providing a much-needed boost to the local economy in the form of taxes and licensing fees. As more players turn to internet gambling, New Jersey’s success in the sector is expected to serve as a catalyst for other states to consider expanding their own online gambling offerings.
While some challenges remain, such as ensuring responsible gaming practices and preventing underage gambling, New Jersey’s experience demonstrates the potential benefits of embracing and regulating the online gambling industry. With the state leading the way, the future looks bright for the continued growth and development of internet gambling across the United States.
Seattle, United States, April 19th, 2023, Chainwire
Space and Time and Microsoft announce that developers can now deploy the Space and Time data warehouse directly from the Microsoft Azure Marketplace, an online store providing applications and services for use on Azure. The one-click deployment provides customers with an accelerated on-ramp to easily access, manage and perform analytics on blockchain-native data.
As a leader in intelligent computing and AI, Microsoft is committed to supporting its customers and partners with their business needs, including Web3 scenarios and use cases. In September 2022, Microsoft’s venture capital fund, M12, led a funding round for Space and Time. The one-click deployment of Space and Time on the Azure Marketplace provides developers with a trustless intermediary to quickly and easily onboard large volumes of enterprise data to smart contracts, as well as new use cases for indexed blockchain data.
“At Microsoft, we are empowering growth across emerging markets—including blockchain and distributed data. Together, Microsoft Azure and Space and Time will provide developers with the tools they need to build the next generation of blockchain use cases,” said Kathleen Mitford, CVP of Global Industry Marketing.
The integration allows businesses to leverage the benefits of a decentralized data warehouse without rearchitecting their existing infrastructure, enabling enterprises to build on the blockchain without sacrificing compute power or security. The comprehensive Microsoft Azure cloud services and industry-leading identity and security capabilities provide a trusted set of services and tools to develop Web3 applications in this new era of ubiquitous computing.
Space and Time, a leader in Web3 data warehousing, joins real-time data indexed from major blockchains with customer-provided off-chain datasets. The Space and Time hybrid transactional and analytic (HTAP) data warehouse comes pre-loaded with real-time indexed blockchain data, provided for free.
The one-click deployment enables customers to easily integrate the Space and Time data warehouse with their existing enterprise infrastructure. Connecting blockchain data to Azure compute will generate new use cases for base-layer blockchains and developers of decentralized applications.
“The need for verifiable data across blockchains, enterprises and AI has never been more important. We provide enterprises with the ability to integrate blockchain data into their applications and business processes, which is critical for both customer growth and enabling responsible data stewards,” said Space and Time CEO and Co-Founder Nate Holiday. “We’re excited to extend our partnership with Microsoft to bridge enterprise data assets with blockchain and AI innovation.”
About Microsoft
Microsoft (Nasdaq “MSFT” @microsoft) enables digital transformation for the era of an intelligent cloud and an intelligent edge. Its mission is to empower every person and every organization on the planet to achieve more. https://www.microsoft.com/
About Space and Time
Space and Time is the first Web3-native decentralized data warehouse that joins tamperproof on-chain and off-chain data to deliver enterprise use cases to smart contracts. Space and Time has developed a novel cryptography called Proof of SQL℠ that allows developers to connect analytics directly to smart contracts, opening up a wealth of powerful new use cases and business logic on blockchain technology. Space and Time is built from the ground up as a multichain data platform for developers in financial services, gaming, DeFi, or any project requiring verifiable data across enterprise, blockchain and AI.
For more information, visit: Website | Twitter | Discord | Telegram | LinkedIn | YouTube
Contact
Spencer Reeves
marketing@spaceandtime.io
London, UK, April 19th, 2023, Chainwire
After selling out their $16.4m presale, Metacade is now set to list its token MCADE on the well-known centralised exchange BitMart, which boasts over 9 million users.
Metacade has seen strong momentum following numerous announcements and milestones. It sold out its huge $16.4m presale early, quickly followed by the 250m token 6-month staking pool selling out in under 5 hours. Furthermore, Metacade also announced a partnership with gaming company Metastudio, leading to a significant buzz amongst GameFi investors.
At the time of writing, the price of the Metacade (MCADE) token is $0.0173, with a diluted market cap of over $35m and an average daily trading volume of $500,000 since launch.
Russell Bennet, CEO of Metacade, commented:
“After listing on Uniswap, we saw sell orders being instantly filled on the buy side and minimal selling pressure, which in this climate is a sign that we have something truly special. This was reinforced by our staking pool selling out in 5 hours! With our upcoming exchange listings, I hope we will see the positive price appreciation that usually follows, and from there, the sky’s the limit!”
Following the listing on BitMart, Metacade has confirmed another top-tier exchange, MEXC, will be listing Metacade in early May. More exchanges are expected to be announced in the coming months.
Users can purchase Metacade tokens on Uniswap here.
About BitMart
Founded in 2018, BitMart is a centralised exchange that provides crypto asset trading and investment services to over 9 million users around the globe. The trading platform offers numerous features for its clients, including staking, lending, savings products, derivative contracts, and expanded spot trading options. For advanced crypto enthusiasts, BitMart provides futures trading and margin trading that allow them to use leverage.
About Metacade
Metacade is intended to be the premier destination for gaming in the metaverse. As Web3’s first community arcade that allows gamers to hang out, share gaming knowledge and play exclusive P2E games. The platform offers users multiple ways to generate income, build careers in Web3 and connect with the broader gaming community.
The project has the stamp of approval from CertiK, the leading blockchain auditor, which aims to reassure investors that the project specifications and code are reviewed, and the Metacade team has passed KYC. This puts Metacade on the same level of confidence as other CertiK projects, including Aave, Polygon and Chiliz.
Metacade’s one-stop shop potential as the next GameFi hub of choice for P2E gamers as well as a broad range of other use cases, is evidenced in the enthusiasm around the project and the success of the presale.
Website | Whitepaper | Socials
Contact
CEO
Russell Bennett
Metacade
pr@metacade.co
New York, US, April 10th, 2023, Chainwire
Babylon x NYC, an exhibition of more than 100 physical and digital artworks, will take place in New York City on April 12-13, 2023. The exhibition, set up by Babylon — a Web3 gallery specializing in primary sales of NFT editions — will showcase works by the project’s 30 Founding Artists, well-known for their impact on the NFT art space.
Also featuring, as highlights exclusive to the exhibition, are works by prominent Armenian artist Tigran Tsitoghdzyan, whose debut drop on Ethereum will be hosted on Babylon, and — for the first time on public display — the personal collection of Babylon founder Paruyr Shahbazyan.
Babylon’s Founding Artists include mainstream creators like Rik Oostenbroek, who, in a 20-year career, has worked with the likes of Mercedes-Benz, Apple, and Nike; Archan Nair, whose work has been featured in Rolling Stone and Vogue, and Terrell Jones, whose gangster film-inspired pieces have been auctioned at Sotheby’s.
The team and Founding Artists will be on hand to showcase this new NFT platform, which intends to become the home of NFT Editions, at the opening night on April 12. Babylon x NYC will then open to the public on April 13.
Babylon is a passion project of founder Shahbazyan. He has dubbed it his ikigai — a Japanese concept that means ‘your reason for being.’ Shahbazyan is considered one of the largest and most followed independent NFT collectors, whose collection is estimated at around 4,000 ETH and features rare and valuable pieces such as a 3D Glass Hoodie Punk, a Spiral Fidenza, and a Red Ringer.
He explains the significance of the Babylon x NYC exhibition:
“Art has always occupied a special part of me, but I wanted to make an impact in the space rather than remain purely a collector.”
“The emergence of NFTs has offered an opportunity to change and democratize the art world as much as printmaking did in the 18th century. Babylon is bringing in new sales mechanisms based around editions which will create an art world that is fairly distributed and open for all.”
Tickets for the Babylon x NYC public exhibition are available here, and the exhibition booklet can be viewed here.
To enquire about attending the private opening night event as a media representative, please email mia@babylon.art.
[image 1] Tigran Tsitoghdzyan, Self Isolation IV (2021), on display at Babylon x NYC
[image 2] Rik Oostenbroek, The Indecisive (2023), NFT, on display at Babylon x NYC
About Babylon
Launched in January 2023, Babylon is a Web3 gallery specializing in primary sales of NFT editions, created and run by a consortium of Founding Artists and collectors. Our vision is to make selling and collecting art accessible to all, amplifying the inherently democratic medium that editions are via a flexible listing model and diverse sales mechanics.
Contact
Head of Comms
Mia Agova
Babylon
mia@babylon.art
Lisbon, Portugal, April 4th, 2023, Chainwire
Guarda Wallet, a non-custodial crypto wallet, and Simplex by Nuvei, an industry-leading fiat-to-crypto on-ramp solution provider, have launched a promotional deal for zero-fee cryptocurrency purchases when paying with EUR. This means that European users can now buy BTC, ETH and LTC at no additional charge.
This joint promotion by Guarda Wallet and Simplex is available exclusively from 3 April to 9 April 2023. It applies only to Euro-denominated transactions (EUR). Furthermore, it is a great opportunity for beginners and experienced traders in Europe to enrich their crypto portfolio with Bitcoin, Ethereum and Litecoin.
To take advantage of this limited-time offer, users can visit the Guarda Wallet website or download the app. Crypto enthusiasts are encouraged to take advantage of this promotion to enhance their digital asset portfolio.
About Guarda Wallet
Guarda Wallet is a multicurrency, non-custodial wallet that allows users to manage over 400,000 assets across 60+ major blockchains. The wallet is available as a desktop, mobile, and web-based application. Since it is a non-custodial wallet, it does not store users’ private keys on its servers, which gives users complete control over their assets. Guarda’s user-friendly interface provides easy access to all the wallet’s features, such as Buy, Exchange, Staking, Crypto Loans, Token Generator, and more.
One of the main advantages of Guarda Wallet is security. The wallet employs various security features to protect users’ funds, including encrypted private keys, backup files, multi-signature, and biometric authentications for mobile applications.
About Simplex
Simplex is a global payment processing service that enables users to buy digital assets with credit/debit cards, bank transfers and multiple alternative payment methods. The platform supports multiple cryptocurrencies, including Bitcoin, Ethereum, Litecoin and many others.
Simplex offers a streamlined process for buying cryptocurrencies, eliminating the need for lengthy signup processes and tedious verification requirements. Users can complete transactions quickly and easily within minutes.
Contact
Marketing Manager
Rina Dyom
Guarda Wallet
rina@guarda.com
In a recent interview with Cointelegraph, Ambre Soubiran, the CEO of Kaiko, a leading cryptocurrency market data provider, predicted a significant shift in the global center of gravity for the crypto industry due to the increasing regulatory pressure in the United States. Soubiran anticipates that Hong Kong will become the new epicenter for cryptocurrency innovation and growth.
The US has been tightening regulations on cryptocurrencies, with government agencies such as the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) showing an increased interest in overseeing the burgeoning industry. As regulatory crackdowns intensify, the crypto industry is seeking friendlier jurisdictions to operate in, and Hong Kong appears to be a prime candidate.
Soubiran’s prediction comes on the heels of numerous developments in the crypto space, including high-profile legal actions against industry giants like BitMEX and Ripple. The SEC has accused the latter of conducting an unregistered securities offering, while the CFTC has charged the former with operating an unregistered trading platform.
These cases reflect the US government’s intention to establish a strong regulatory framework around cryptocurrencies, which, although essential for the market’s long-term stability, may be viewed as stifling innovation in the short term. Consequently, crypto businesses are on the lookout for more accommodating environments that allow for greater innovation without the threat of heavy-handed regulation.
Hong Kong has been increasingly positioning itself as a global financial center, embracing blockchain technology and fostering a regulatory climate conducive to the growth of the cryptocurrency industry. The Hong Kong Monetary Authority has been working on a Central Bank Digital Currency project, and the region’s Securities and Futures Commission has introduced a licensing regime for digital asset exchanges.
The combination of these factors has made Hong Kong an attractive destination for crypto businesses, and Soubiran believes that the region will continue to see an influx of blockchain and crypto projects as a result.
However, she also notes that the US’s stringent regulatory approach is not without merit, as it is crucial for the long-term stability and credibility of the cryptocurrency sector. While the industry is currently in a transitional phase, the end goal is to strike the right balance between innovation and consumer protection.
As regulatory landscapes continue to evolve, it remains to be seen how various jurisdictions will adapt to accommodate the rapidly growing cryptocurrency industry. For now, Hong Kong seems poised to seize the opportunity and emerge as a leading global crypto hub.