Daily Archives: October 10, 2021

SEC Commissioner: True Decentralized Projects Pose a Challenge to Crypto Regulation

A commissioner with the U.S. Securities and Exchange Commission (SEC) says that true decentralized projects pose a challenge to crypto regulation. Noting that “decentralized finance carries within itself inherently some ability to self regulate,” the commissioner said, “we need to take that into account as we design a regulatory system.”

SEC Commissioner Peirce Discusses Crypto Regulation and Decentralized Finance

SEC Commissioner Hester Peirce talked about cryptocurrency regulation in an interview with Yahoo Finance, published last week. Peirce is also known in the crypto community as “crypto mom” for her knowledge and support of the crypto space.

She was asked about whether the SEC has any trouble catching up with developments in the crypto space and protocols which are advancing and changing very quickly on a daily basis.

“There is certainly difficulty on the part of a regulator to stay on top of developments in defi [decentralized finance] and crypto more generally,” Peirce admitted. However, she noted:

People shouldn’t assume that the SEC can only focus on one thing. The SEC has a lot of resources and can go after a lot of things simultaneously.

“So, be aware of that, and you need to be thinking about whether the securities laws apply to what you’re doing and consulting with lawyers when necessary,” she recommended.

The commissioner added: “The decentralized world is one that is very new to us because we are used to dealing with large, usually large, centralized intermediaries. So true decentralized projects do pose a challenge.” Peirce warned:

I think what I would caution people to be aware of is that sometimes something claims to be decentralized and isn’t, and there is actually a centralized entity, and I think certainly regulators will be looking to that centralized entity.

SEC Chairman Gary Gensler also similarly said that many platforms claiming to be decentralized were actually centralized. He told Senator Elizabeth Warren in September that many platforms “are only decentralized in name only,” citing that “There is a user agreement.” In addition, he said many tokens listed on cryptocurrency exchanges are actually securities, telling Congress that they needed more regulation.

Peirce further explained:

Decentralized finance carries within itself inherently some ability to self regulate. And I think we need to take that into account as we design a regulatory system.

Commenting on cryptocurrency regulation, the commissioner said, “It is disconcerting to me that for three years now I’ve been asking for regulatory clarity and we can’t seem to provide any.”

She added: “I think this is really becoming a huge barrier to this industry being able to develop in the way that’s safe but also in a way that allows innovation to happen. And it’s a real shame to me that we are not just taking up the mantle as regulators to develop a regulatory framework.”

What do you think about the comments by SEC Commissioner Hester Peirce? Let us know in the comments section below.

Refinable Authenticates Fine Jewelry Sale on Sotheby’s

PRESS RELEASE. HONG KONG – 10th October 2021Refinable, a leading decentralized NFT marketplace, is taking a step forward in realizing advanced use cases for NFT applications. In a keystone partnership with high-end jewelry maker NALAS, and the support of Sotheby’s, Refinable will be the first marketplace to provide item authentication with NFTs for the high-value jewelry piece known as “Shining Stars”.

Valued at upwards of $300,000 HKD, “Shining Stars” is studded with over 200 diamonds to reconstruct the star-filled nights seen throughout Vincent Van Gogh’s artwork. Online review and bidding of the auction of “Shining Star” will start in Sotheby’s “Magnificent Jewels: Part II” from 5 October until 28 October. The successful bidder will receive a proof of purchase and proof of authenticity in the form of a digital NFT from Dias Group Limited. Leveraging the Ethereum blockchain, all associated information about the sale will be stored publicly and be available for anyone to view on the Refinable marketplace.

This marks a landmark moment for the NFT industry as more progressive brands are looking to apply NFT identification technology to complement existing business models. Auction houses including Sotheby’s and Christie’s are also actively exploring the space to further their portfolio of items to bring to market. As well as, participating in digital art festivals to promote NFT awareness amongst contemporary collectors.

As the official NFT partner of Hong Kong’s first digital art festival – Digital Art Fair Asia 2021, Refinable, alongside event partners such as Sotheby’s, Samsung, TIME, Genesis Block, BlockFi, and more, showcased over 30 global artists across digital and NFT art. For inquiries, get in touch with Refinable here.

 

About Refinable

Refinable is the definitive solution to create, discover, trade, and leverage NFTs. The marketplace provides an accessible environment, for any user, brand, or community, by offering multi-chain flexibility, low-cost alternatives, and high-performance options to engage with NFT content.

Beyond the marketplace, Refinable also offers custom solutions for brands and projects looking for new engagement opportunities. Contact Refinable for more information.

Contact Refinable

Website: https://refinable.com

Telegram: https://t.me/refinablenft

Telegram ANN: https://t.me/RefinableANN

Twitter: https://twitter.com/refinableapp

Instagram: https://instagram.com/refinableapp

Youtube: https://www.youtube.com/c/Refinable

Media contact: [email protected]

 


This is a press release. Readers should do their own due diligence before taking any actions related to the promoted company or any of its affiliates or services. Bitcoin.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the press release.


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BTC’s Price Rise Gives 5-Year-Old Mining Rigs New Life — Bitcoin Hashrate Jumps Close to 20% Since Last Week

BTC's Price Rise Gives 5-Year-Old Mining Rigs New Life — Bitcoin Hashrate Jumps Close to 20% Since Last Week

As bitcoin’s value has increased, the global hashrate has been steadily climbing higher week after week. On Sunday, the hashrate dedicated to the Bitcoin network is hovering just above the 155 exahash (EH/s) handle and bitcoin’s price has made a great number of mining rigs more profitable. Older generation mining rigs like Bitmain’s Antminer S9 series with hashrate speeds around 11 TH/s or higher are also profiting.

Bitcoin Hashrate Climbs, Mining Rigs Gather Higher Profits

Six days ago, Bitcoin’s overall hashpower was around 130 exahash per second (EH/s) and today it’s up 19.23% at 155 EH/s. Bitcoin (BTC) markets have been doing well this week up 15.9% during the last seven days. On Sunday, a single BTC is exchanging hands for just above the $55K zone and there’s $35.2 billion in global trade volume.

The higher price per BTC has made it so mining rigs are more profitable than they once were a few weeks ago in September. Using today’s BTC difficulty and electrical costs of around $0.12 per kilowatt-hour (kWh), the Microbt Whatsminer M30S++ is pulling in over $34 a day per machine. The M30S++ is powerful, of course, as each Microbt machine boasts 112 terahash per second (TH/s).

BTC's Price Rise Gives 5-Year-Old Mining Rigs New Life — Bitcoin Hashrate Jumps Close to 20% Since Last Week

The Bitmain Antminer S19 Pro (110 TH/s) also makes over $34 per day with the next-generation miner’s output. The Canaan Avalonminer 1246 boasts around 90 TH/s in hashrate and estimates show it can make $25.88 per day using today’s BTC exchange rates. The Strongu Hornbill H8 Pro shows it produces 84 TH/s and profits by $23.67 per day using current exchange rates.

Older Bitcoin Mining Machines With 11 TH/S or More Can Get $0.39 per Day

Older units like the Ebang Ebit E11++ (44 TH/s) and the Innosilicon T3 (43 TH/s) pull in anywhere between $11.02 to $11.77 per day in profit. The lowest hashpower producing bitcoin mining machine is the Bitmain Antminer T9 (11.5 TH/s) which can get a miner around $0.39 per day.

Every single Bitmain Antminer S9 series also makes a profit, producing anywhere between $0.84 per day and $2.00 per day, depending on the S9 model. There haven’t been any new launches in recent times, except for a new mining rig manufacturer from Singapore called Ipollo.

BTC's Price Rise Gives 5-Year-Old Mining Rigs New Life — Bitcoin Hashrate Jumps Close to 20% Since Last Week

The Ipollo bitcoin miner called the B2 claims to produce 110 TH/s and pulls 3,250 watts from the wall. The mining rig’s current profit is $34.31 per day but the machine just came out this month. This means that the new company’s devices have not been out for that long and reviews are lackluster and sparse so far.

On Sunday, the mining operation F2pool commands the most hashrate with 26.59 EH/s or 18.69% of the global network. F2pool is followed by Antpool (20.94 EH/s), Poolin (20.94 EH/s), Foundry USA (17.28 EH/s), and Viabtc (14.96 EH/s). Unknown hashrate or stealth miners capture 2.10% of the global hashrate and the 2.99 EH/s puts the mystery hash in the ninth position.

The current mining difficulty is 19.89 trillion and in eight days it is expected to increase by 1.58%. This increase will put BTC’s mining difficulty back above the 20 trillion range making it close to 40% harder to mine BTC than three months ago.

What do you think about mining machines gathering higher profits and the older generation mining rigs that can now gain profit? Let us know what you think about this subject in the comments section below.

Sri Lanka’s E-commerce Platform Kapruka to Introduce Crypto Payments

Sri Lanka’s E-commerce Platform Kapruka to Introduce Crypto Payments

Sri Lanka’s leading online retailer, Kapruka, has unveiled plans to introduce support for cryptocurrency payments. The news comes as the South Asian country intensifies efforts to adopt legislation tailored to regulate its blockchain space and attract investments from the crypto industry.

Kapruka to Launch Cryptocurrency Payments Within Weeks

Kapruka (Kapruka.com), a major e-commerce platform in Sri Lanka, has revealed its intention to start accepting payments in cryptocurrency quite soon. Kapruka’s founder and Chairman Dulith Herath made the announcement on Twitter this week. Quoted by the Sri Lankan Daily Mirror newspaper, the executive stated:

Kapruka plans to accept crypto payments within the next couple of weeks.

Founded in 2005 by the Sri Lankan entrepreneur and web-technology specialist, Kapruka has established itself through the years as Sri Lanka’s largest retailer on the internet. Besides its core business, it has also ventured into cross-border e-com exports and last-mile delivery among other areas, including payment solutions and B2B baking services.

Kapruka is now on its way to becoming the second Sri Lankan company to offer its customers a cryptocurrency payment option. The first local business to take the path of crypto adoption was MTB.lk, a platform that organizes mountain bike tours and holidays. MTB.lk took the step in September and is now accepting coins for its services.

Meanwhile, the government in Sri Lanka is gearing up to regulate crypto-related activities and attract investments from the industry. A committee of experts from both public and private institutions was recently set up to prepare a report on the legal acts and rules needed to facilitate the development of the digital banking, blockchain technology, and cryptocurrency mining sectors in the country.

Digital Technology and Enterprise Development State Minister Namal Rajapakse is a key figure behind the move as he secured the necessary approval from the Cabinet to gather a team of professionals. Rajapakse, who also coordinates youth, sports, and development projects in Sri Lanka, recently revealed a plan to set up a cryptocurrency exchange at Colombo Port City, Sri Lanka’s special economic zone and international financial center.

Kapruka’s announcement of the upcoming introduction of crypto payments on its platform comes as the country’s crypto space is still unregulated. Up until recently, financial authorities have had a restrained attitude towards cryptocurrencies with the Central Bank of Sri Lanka issuing a warning notice earlier this year for the risks associated with crypto investments.

Do you expect more Sri Lankan companies to begin accepting cryptocurrencies as the government regulates the industry? Tell us in the comments section below.

Beltracchi’s ‘Salvator Mundi’ — Notorious Art Forger Banned from Selling at Galleries Steps Into the NFT Game

While the world of non-fungible token (NFT) assets continues to swell, the notorious artist and art forger Wolfgang Beltracchi has joined the NFT industry with a collection of NFTs called “The Greats.” Beltracchi is well known for admitting that he forged hundreds of paintings and sold the artworks in the name of the original famed artists like Heinrich Campendonk, Fernand Léger, and Max Ernst.

Wolfgang Beltracchi Introduces ‘The Greats’ Collection

An infamous artist who got caught selling forged art from some of the world’s most beloved artists, Wolfgang Beltracchi, is jumping into the fray of non-fungible token (NFT) collectibles. The German art forger and his wife admitted to selling artworks from 14 different pieces that sold for roughly $45 million. However, Beltracchi claimed to have re-created the works of “about 50 artists” and also said his profits exceeded $100 million. After a 2011 trial in Germany, Beltracchi was found guilty and served a touch over three years for his crimes. The forger and his wife were also forced to pay millions in restitution.

Now Beltracchi has dropped a new website called greats.art, which is described as “a digital journey through the history of art.” When Beltracchi was caught he forged the work stemming from famous artists such as Max Ernst, Heinrich Campendonk, Fernand Léger and Kees van Dongen.

His latest NFTs will be re-creations as well and take from the art of Leonardo da Vinci’s alleged “Salvator Mundi” piece, and more. “We present to you the first-ever digital fine art collection by the most prolific art forger of the 20th century, Wolfgang Beltracchi,” the greats.art web portal notes. The website adds:

The artist takes you on a journey through the history of art by recreating Leonardo da Vinci’s alleged Salvator Mundi, channeling the styles of seven masters including Picasso, Van Gogh, Da Vinci, and more. ‘The Greats’ is divided into over 30 individual series based on 7 different eras in art history. The collections consist of a total of 4,608 original digital artworks.

The Most Controversial Artist and the World’s Most Expensive Artwork

Beltracchi also appears in a Youtube video that explains “The Greats” NFT collection in greater detail. The artist is one of the most controversial artists in the world and the “Salvator Mundi” is the most expensive piece of artwork ever sold worldwide. Back in 2017, the “Salvator Mundi” sold for $450 million to the Saudi Arabian crown prince Mohammed bin Salman.

The forger’s website notes that the “traditional art elite wants to bury Beltracchi” and make his artwork a forgotten memory. Beltracchi claims that since he was arrested he has been banned from selling at famous auction houses, museums, and art galleries.

“It is in the art establishment’s utmost interest to maintain the status quo, and to continue to dictate what is and what isn’t art,” the greats.art website explains. “This is why we utilize the Internet and the Ethereum blockchain to give the world unrestricted access to one of the last living old masters of our time.”

What do you think about art forger Wolfgang Beltracchi dipping into the waters of non-fungible token (NFT) collectibles? Let us know what you think about this subject in the comments section below.

Cross-Chain Bridge Value Increases by 89% in Less Than a Month Surpassing $14 Billion TVL

Cross-Chain Bridge Value Increases by 89% in Less Than a Month Surpassing $14 Billion TVL

23 days ago on September 16, cross-chain bridges held around $7.79 billion total value locked (TVL) and since then the TVL has increased 89% since then to $14.75 billion. Currently, the top bridges include network connections like Polygon Bridges with $4.5 billion, Fantom Anyswap Bridge with $4.1 billion, and the Avalanche Bridge with $3.2 billion.

Cross-Chain Bridge Technology Swells

Decentralized finance (defi) and cross-chain bridge technology have continued to grow in value this year. A cross-chain bridge allows users to connect to another blockchain, which in most cross-chain cases the other network has been the Ethereum chain, and users can swap assets back and forth between each blockchain.

Cross-Chain Bridge Value Increases by 89% in Less Than a Month Surpassing $14 Billion TVL

Last month, Bitcoin.com News reported on an in-depth study that covers the myriad of multi-chain bridges that exist today. At that time on September 16, metrics from Dune Analytics’ “Bridge Away (L1 Ethereum)” dashboard indicated that bridges held $7.79 billion total value locked (TVL).

Cross-Chain Bridge Value Increases by 89% in Less Than a Month Surpassing $14 Billion TVL

Since then statistics show the TVL has increased by 89% to $14.75 billion in value today. The “Bridge Away” dashboard shows bridges stemming from Harmony, Optics, Boba, Zksync, Near, Solana, Fantom, Polygon, Avalanche, Optimism, Arbitrum, Xdai, Celo, BSC, Moonriver, and RSK.

Polygon Holds Top Position, Loopring Transfers Are the Cheapest

During the last 30 days, the records measured 121,882 unique addresses associated with these different bridges. At the time of writing, Polygon holds the largest TVL capturing $4.5 billion and the Fantom Anyswap Bridge commands $4.1 billion.

Cross-Chain Bridge Value Increases by 89% in Less Than a Month Surpassing $14 Billion TVL

Fantom’s bridge is followed by Avalanche, Arbitrum, Optimism, Zksync, Solana, Harmony, Xdai, and Moonriver respectively. Both WETH and ETH have the top spot in terms of asset rankings while the stablecoin USDC runs in the third position.

Cross-Chain Bridge Value Increases by 89% in Less Than a Month Surpassing $14 Billion TVL

USDC is followed by WBTC, USDT, MATIC, and DAI as far as asset rankings are concerned. Chainlink (LINK) holds the seventh position among the top assets leveraged on cross-chain bridges. Data from l2fees.info indicates that the current cost to transfer ether via Loopring is $0.17 per transaction. Polygon Hermez is $0.25 per transfer, Zksync $0.26, Optimism $0.97, and Arbitrum One is $1.88 per transfer.

What do you think about the cross-chain bridge technology swelling in value and the transfer fees tied to specific Layer 2 (L2) protocols? Let us know what you think about this subject in the comments section below.

B2BinPay: How to Find a Reliable Provider of Bitcoin Payments

PRESS RELEASE. Bitcoin is not just the first cryptocurrency to have come onto the scene – the role of this asset has substantially increased in recent years.

Giant corporations like Tesla and Xiaomi have added BTC to the list of payment options, while El Salvador has made Bitcoin a legal tender within the country. According to market capitalization, only Amazon, Google, Saudi Aramco, Microsoft, and Apple surpass the first cryptocurrency, hence the crypto market still has a huge potential to grow.

Merchants are aware that innovations are inevitable and they must keep up with the times. This is why a Bitcoin payment gateway has become a “must-have feature” for today’s businesses.

Top-3 Reasons to Accept Bitcoin Payments

Why should a business owner add this option?

  1. The overall number of crypto holders is booming – 300+ million people hold BTC, USDT, and other digital assets. This is why your target audience could drastically skyrocket.
  2. Bitcoin payments are cheaper as no third parties take place. With a cryptocurrency gateway, commissions are much lower than those of debit/credit cards.
  3. Crypto payments provide both merchants and customers with high-level security. The procedure is irreversible.

The whole list of advantages is much broader and many merchants are well aware that such an innovation boosts their businesses.

How to Accept Bitcoin Payments?

The fear of change is one of the key obstacles for business owners but connecting is actually very straightforward:

  1. Find a reliable crypto payment service provider (e.g. B2BinPay).
  2. Open a Bitcoin wallet. B2BinPay enables merchants to access a secure wallet and business owners may receive funds directly to their bank accounts. A provider processes crypto payments, converts digital currencies into the chosen fiat one by market prices and withdraw fiat to bank accounts.
  3. All-in-one solutions make it very straightforward to accept digital currencies – experts connect APIs and are responsible for all the setup.
  4. Merchants get 24/7 support to resolve any hurdles and headaches in the shortest time possible.

B2BinPay is a next-level solution that drives your business to new peaks. Aside from Bitcoin, merchants can receive 800+ more cryptocurrencies, covering the target audience as far as possible.

Options Available for Bitcoin-Holders

There are various options available, for example. These include those who prefer to exchange crypto payments. There are also those who understand the growing potential of Bitcoin and wish to hold crypto funds. What kind of options are available?

  • Hold BTC as an investment instrument. The yearly growth of Bitcoin is 472%.
  • Use BTC to purchase goods and services as well. More than 23 000 businesses globally accept the first cryptocurrency as a payment method.
  • Exchange Bitcoin for other crypto assets (Stellar, Cardano, Ethereum) with exceptionally low fees.

B2BinPay wallets are multifunctional and highly secure, serving as an entrance door to the crypto world.

 


This is a press release. Readers should do their own due diligence before taking any actions related to the promoted company or any of its affiliates or services. Bitcoin.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the press release.


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Nigeria Central Bank Governor Says CBDC Launch Just ‘a Couple of Days’ Away

The governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, has confirmed the country’s upcoming digital currency will be launched “in a couple of days from now.” According to the governor, the digital currency which is also known as the e-naira will be the first of its kind in Africa.

Nigeria to Launch CBDC in Days

  • Emefiele’s reassurances to Nigerians follow the CBN’s deferment of the e-naira launch to an unknown date.
  • Sources disclose Emefiele said on Thursday the e-naira CBDC will make Nigeria “one of the first countries in Africa to adopt the digitisation of its national currency.”
  • As previously reported by Bitcoin.com News, the central bank claimed it had postponed the e-naira’s launch because this would have clashed with the country’s independence day celebrations.
  • However, some observers have speculated that the deferment may have been necessitated by a legal challenge that was brought against the central bank by a Nigerian firm.
  • A Nigerian court has since ruled in favor of the CBN thus paving the way for the launch of a digital currency that will be one of the first in Africa.
  • When finally launched, this digital currency is expected to accelerate financial inclusion and enable cheaper and faster remittance inflows, according to the CBN.
  • The launch of the CBDC will also ensure that the central bank will maintain control of the monetary system.
  • 12 days ago on September 27, Nigeria’s official website for the e-naira which states: “Same Naira. More Possibilities” and that financial transactions will be “easier.”
  • The website also boasts an e-naira wallet, which can be downloaded via Google Play for Android and the Apple App Store for iOS devices.

What are your thoughts about this story? Tell us what you think in the comments section below.

Talent Giant Creative Artists Agency Inks Deal With Pseudonymous NFT Whale 0xb1

On October 8, the leading California-based talent agency Creative Artists Agency announced it has inked a deal with the infamous non-fungible token (NFT) asset collector known as “0xb1.” The influential talent agency aims to help the pseudonymous 0xb1 monetize the vast NFT collection and bolster “blue-chip brands looking to enter the NFT space.”

0xb1 Partners With Creative Artists Agency to Bolster ‘Advisory Partnerships’

This week the well known talent agency based in Los Angeles, Creative Artists Agency (CAA), revealed it has partnered with a crypto NFT whale called “0xb1.” The character has a Twitter profile and 53,000 followers after joining the social media platform in November 2020. On Friday, CAA told The Hollywood Reporter that it has signed a deal with the pseudonymous 0xb1 and it aims to help “monetize their collection of NFTs through licensing and brand partnerships.”

0xb1 is an avid NFT collector and the address holds or once held a number of extremely expensive NFTs. 0xb1 collects NFT collections like Cool Cats, Bored Ape Yacht Club (BAYC), and Mutant Ape Yacht Club (MAYC), among a number of individual NFTs as well. In order to help 0xb1, the talent agency CAA will facilitate “advisory partnerships.” Using the social media account on Twitter, 0xb1 confirmed that it had partnered with the Los Angeles-based firm. CAA also inked a deal with the BAYC’s Jenkins The Valet on September 22.

Licensing intellectual property in regard to the hottest non-fungible token (NFT) assets and collectibles these days has been all the rage. On September 1, Bitcoin.com News reported on the talent giant United Talent Agency (UTA) signing a deal with the prominent NFT projects Cryptopunks, Autoglyphs, and Meebits. As far as 0xb1 is concerned, the NFT collector is a mega whale and onchain sleuths have been following its onchain movements and NFT purchases for quite some time.

Onchain sleuths Follow 0xb1’s Movements and NFT Buys

For instance, the Twitter account dubbed “Decentral Station” noted that it may not be an individual but a fund. “First thought [that] occurred to my mind is [that] this is definitely not an individual,” Decentral Station said. “Probably a Fund. As managing 9 digits needs manpower. So [I] tried to find out the origin. 0xb1 was funded initially with 1 ETH and 235,000 LINK from Celsius wallet.” Decentral Station gives an excellent analysis of 0xb1’s onchain movements as does Nick Chong on January 3, 2021. Chong stated:

By far, one of the most interesting ethereum addresses I’ve seen is @0x_b1. It’s quite an interesting social experiment as well – a $300m whale starting a Twitter account for fun. Check their bio.

Then months later on September 27, 0xb1 addressed some of the speculation behind the account. “Greetings Metaverse and Web3 builders,” 0xb1 said last month.

“The team behind @0x_b1 wanted to finally address some of the speculation about this account and its origins. While we cannot disclose too much, we would like to introduce ourselves. We previously managed the funds held in the 0xb1 address in 2020 till May 2021, but have since escaped that relationship & no longer have any association with those funds or the organization(s) from whence they came. The team behind this Twitter has always remained the same.” 0xb1 added:

Soon we will become MORE active again – not as a fund per se, but as a team of crypto natives and technologist degens committed to the ethos, the culture and future of the decentralized economy. In the coming weeks, we will announce a new defi primitive that the team has been heads-down building [for] the past 6 months. This platform, aptly named Fodl Finance @fodlfi, is the first true on-chain primitive for leveraged longs/short without funding rates. More on this coming soon.

NFT deals between talent giants and collections like the Cryptopunks, Autoglyphs, Meebits, and 0xb1’s recent signing, clearly shows that intellectual property tethered to the world’s most popular NFTs are becoming commonplace in the crypto industry. Last April, an astronaut NFT character called Aku created by Micah Johnson “optioned for TV and film projects by Anonymous Content and Permanent Content, a joint venture of Shawn Mendes and his manager, Andrew Gertler,” according to Variety’s Todd Spangler.

What do you think about Creative Artists Agency inking a deal with the pseudonymous NFT whale known as 0xb1? Let us know what you think about this subject in the comments section below.

Court Ruling Threatens 17 Crypto Exchanges in Russia

Court Ruling Threatens 17 Crypto Exchangers in Russia

Another batch of Russian online crypto exchanges in Russia face closure following a recent decision by a regional court. Information published on their websites has been deemed illegal meaning the country’s telecom watchdog can block access to their platforms.

Roskomnadzor May Take Down Blacklisted Crypto Exchanges

A number of websites providing options to exchange, cash out, and transfer cryptocurrency using various payment methods may be blocked by Russia’s telecom regulator, Roskomnadzor, if their operators don’t delete the illegal web pages. The threat for the online crypto platforms stems from a court ruling recognizing their content as prohibited.

Court Ruling Threatens 17 Crypto Exchangers in Russia

In early September, the Kushnarenkovsky District Court in Bashkortostan, a republic of the Russian Federation, confirmed that the information they are disseminating is banned under current law, Forklog reported. The register of banned Russian websites, maintained by the non-government organization Roskomsvoboda, lists 17 sites affected by the decision.

In its ruling, the regional court notes that in all these cases the platforms have allowed free access without requiring registration. “Any user can get acquainted with the content and copy the materials in electronic form. There are no restrictions on their transfer, copying and distribution,” the district court emphasized.

According to Digital Rights Center, a law firm hired by the operators of six of the crypto exchanges, the owners of the websites had not been summoned by the court at all. Sarkis Darbinyan, managing partner at the company, explained that apparently the sites had been identified on the Bestchange.ru crypto exchange aggregator.

In the past few years, websites featuring content related to bitcoin and crypto services have often been targeted with restrictive measures in Russia. Roskomnadzor blocked Bestchange.ru more than once but access to the popular site has been eventually restored. In March 2020, the agency added six crypto sites to its register of banned internet sources and in June this year, a court in the Perm region announced its decision to block several crypto trading websites.

Lawyers at Digital Rights Center are now preparing official complaints with the intention to seek the full cancellation of the court decision. “Apparently, prosecutors do not want to accept the reality that the law on digital assets has already been adopted and the legislator did not follow the path of a complete ban on cryptocurrency, but only limited the possibilities of its use and civil law turnover,” Darbinyan concluded.

Do you think the Russian crypto exchangers and their defense will be able to secure a reversal of the court’s decision? Tell us in the comments section below.