‍Kalshi Sues New York Regulators Over Prediction Markets Kalshi has filed a preemptive federal lawsuit against New York regulators to prevent its sports prediction markets from being classified as illegal gambling. This action follows a similar unfavorable ruling for Crypto.com in Nevada, intensifying legal scrutiny on these financial products. Kalshi argues that federal law preempts state gambling regulations for contracts overseen by the CFTC. Legal experts note this proactive strategy allows Kalshi to control the narrative and focus on jurisdictional disputes rather than the legality of the contracts themselves. While Kalshi previously secured preliminary injunctions in New Jersey and Nevada, a Nevada judge recently ruled that sports event outcomes do not qualify as "swaps" under the Commodity Exchange Act, limiting the CFTC's exclusive jurisdiction. Consequently, Crypto.com must geofence Nevada by November 3rd and close positions for state residents. Experts predict further litigation from states like Arizona and Illinois, potentially leading to a wave of cases against platforms like Kalshi, Robinhood, and Crypto.com, indicating a tightening regulatory environment.
Cryptovka
Kalshi Sues New York Regulators in Key Prediction Market Battle Post-Crypto.com
Kalshi, an event-contract platform, has launched a preemptive federal lawsuit against New York regulators to prevent its sports prediction markets ...
‍Venezuela's Economy Increasingly Reliant on Stablecoins Escalating geopolitical tensions, sanctions, and hyperinflation have pushed Venezuela to heavily depend on US-dollar pegged stablecoins. Digital assets like Tether (USDT) are crucial for preserving savings and enabling everyday transactions amid triple-digit inflation. The government itself utilizes stablecoins for international oil trade, potentially making Venezuela the first nation to manage significant public finances in crypto. Venezuela ranks as the fourth largest crypto country in Latin America by transaction value. Political figures, like Nobel Peace Prize winner Maria Corina Machado, also use Bitcoin to protect assets from seizure. These digital assets have become essential for economic survival and financial autonomy in the country.
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Venezuela
Venezuela
‍UK Crypto Firm KR1 Eyes London Stock Exchange Listing UK-based cryptocurrency firm KR1 is planning to list on the London Stock Exchange (LSE), aiming to attract institutional investors and integrate further into mainstream financial markets. The Isle of Man-headquartered company, specializing in cryptocurrency staking, is moving from the Aquis Exchange to the LSE's main board. KR1's co-founder, Keld van Schreven, described the move as a "starting gun" for new asset classes on the exchange. With a market capitalization of approximately £56 million, KR1 aims to be the first truly digital asset company listing in London. To meet LSE's rigorous regulatory standards, KR1 has appointed additional auditors and expanded its board of directors. The transition is expected within the next month, potentially paving the way for increased investment and mainstream adoption of the broader cryptocurrency and blockchain sector.
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UK Crypto Firm KR1 Poised for Landmark London Stock Exchange Listing
UK-based cryptocurrency firm, KR1, is making headlines with its ambitious plan to list on the London Stock Exchange (LSE), marking a pivotal moment...
‍x402bridge Cross-Chain Protocol Suspected of Theft; Users Advised to Revoke Access The x402bridge cross-chain protocol is under suspicion of a significant security compromise, potentially leading to the theft of user funds. The alarm was first raised by the GoPlus Chinese community. Reports indicate that ownership of the x402bridge contract was transferred, after which a new address allegedly exploited the `transferUserToken` function to drain authorized USDC from user wallets. Approximately 17,693 USDC was reportedly moved, converted to ETH, and transferred to Arbitrum. Users who previously interacted with x402bridge are strongly advised to immediately revoke any related authorizations. It is crucial to exercise caution and thoroughly investigate protocol security before authorizing access to digital assets.
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x402bridge Cross-Chain Protocol Suspected of Theft, Users Urged to Revoke Access
A significant security alert has been issued concerning the x402bridge cross-chain protocol, which is now suspected of a major compromise leading t...
‍A2Z Founder Invests in CBCX to Bridge Traditional Finance and Digital Assets Zheng Zhigang, founder of digital asset brand A2Z, has invested in London-based multi-asset liquidity provider CBCX. This strategic move aims to integrate traditional gold and FX markets with digital assets, offering advanced risk management and investment platforms. The partnership will also expand into commodities, stock investment, and brokerage services, with plans to launch a Digital Asset Index for diverse client needs. A key initiative involves exploring digital gold and tokenized financial products, leveraging blockchain for enhanced accessibility and liquidity of traditional assets.
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A2Z Founder Invests in CBCX to Bridge Traditional Finance and Digital Asset Markets
The founder of the prominent digital asset brand A2Z, Zheng Zhigang, has made a strategic investment in CBCX, a London-based multi-asset liquidity...
‍Fhenix Secures Strategic Investment for Privacy-Focused DeFi Expansion in Japan Fhenix Infrastructure Protocol has announced a significant strategic investment from BIPROGY and TransLink Capital. This funding will accelerate Fhenix's deployment in the Japanese market. The investment highlights a crucial collaboration with BIPROGY, a leading Japanese IT services provider, to guide Fhenix's market entry and expansion. This partnership aims to facilitate connections with local financial institutions and regulatory bodies. The capital will support the integration of advanced privacy features into protocols targeting the Japanese financial sector, with joint exploration of privacy-first blockchain infrastructure through pilot projects and research. Fhenix aims to address the demand for secure, compliant blockchain solutions that respect user privacy in institutional finance.
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Fhenix Secures Strategic Investment for Privacy-Focused DeFi Expansion in Japan
Fhenix Infrastructure Protocol, a prominent privacy-focused decentralized finance (DeFi) infrastructure protocol, has announced a significant strat...
‍South Korea to Regulate Stablecoins as Payment Method South Korean lawmakers are proposing amendments to the Foreign Exchange Transactions Act to formally recognize and regulate stablecoins as a legitimate payment method. This initiative, spearheaded by MP Park Sung-hoon, aims to combat illicit activities like money laundering and tax evasion by bringing digital assets under existing financial oversight. The Bank of Korea has expressed concerns about dollar-backed stablecoins potentially bypassing reporting obligations for international transactions and facilitating unreported capital flows. The proposed legislation grants stablecoins legal status equivalent to conventional payment instruments, reflecting a global trend toward increased crypto sector scrutiny. This move seeks to foster innovation while safeguarding against systemic risks, potentially serving as a model for other nations.
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South Korea Moves to Regulate Stablecoins as Payment Method to Combat Illicit Flows
South Korean lawmakers are initiating a significant legislative change to formally recognize and regulate stablecoins as a legitimate means of paym...
‍Ohio Introduces Bill to Prohibit AI Marriage and Deny Personhood Ohio lawmakers have introduced House Bill 469 (HB 469), a legislative measure aiming to explicitly outlaw human-chatbot marriage and deny legal personhood to AI systems under state law. The bill declares AI systems as nonsentient and voids any attempt to recognize them as spouses or life companions. It also establishes legal responsibility for AI developers for harm caused by their systems, emphasizing that labeling does not diminish liability. This proactive legislation seeks to clarify the legal boundaries of artificial intelligence amidst growing public engagement with advanced AI.
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Ohio Bill 469: State Aims to Prohibit Human-AI Marriage, Deny Personhood
Ohio lawmakers have introduced House Bill 469 (HB 469), a significant piece of legislation designed to explicitly outlaw human-chatbot marriage and...