The People’s Bank of China recently addressed issues that are related to the regulation of cryptos, NFTs, and decentralized finance (DeFi) in its latest financial stability report. Interestingly, the People’s Bank of China (PBoC) has resolved issues related to crypto regulation and decentralization finance (DeFi) in its latest financial stability report, in which it now… Continue reading Chinese Central Bank Encourages The World To Jointly Regulate Crypto And NFT
Tag: regulation
China’s Trademark Office Authorized NFT And Virtual Asset Marks
The Chinese Trademark Office approved multiple marks related to non-fungible tokens (NFTs) and metaverse services and goods. The move highlights their recognition of the growing importance of various virtual assets. Recent Trademark Approvals The Chinese Trademark Office’s recent approvals cover many digital assets and functionalities. Interestingly, they acknowledged digital files that are validated by NFTs.… Continue reading China’s Trademark Office Authorized NFT And Virtual Asset Marks
Major Marketplaces Enforce Trading Limits on Stoner Cats NFTs
The Stoner Cats NFT initiative, co-founded by the esteemed actress Mila Kunis, has faced trading restrictions on several major NFT platforms such as OpenSea, Blur, and Rarible. This development comes in the wake of legal action by the United States Securities and Exchange Commission (SEC), which has levied charges against the project’s creators, alleging the… Continue reading Major Marketplaces Enforce Trading Limits on Stoner Cats NFTs
FBI Warns About Criminals Impersonating NFT Developers
The latest reports indicate that the FBI has issued a warning about criminals who are impersonating legitimate NFT developers aiming to defraud users within the nonfungible token (NFT) community. These nefarious individuals either compromise the legitimate social media profiles of genuine NFT developers or fabricate accounts that closely mimic them. Subsequently, they endorse counterfeit NFT launches,… Continue reading FBI Warns About Criminals Impersonating NFT Developers
Apple Faces Scrutiny Over App Store Policies Amid NFT Industry Growth
Apple Inc. is under intensive scrutiny for its App Store practices, mainly with regard to the growing industries of crypto trading and nonfungible tokens (NFTs). On July 28, Jan Schakowsky and House Representatives Gus Bilirakis (R-Fla.) wrote a letter to Apple CEO Tim Cook, Asking for detailed information about its App Store policies. In that… Continue reading Apple Faces Scrutiny Over App Store Policies Amid NFT Industry Growth
Binance Increases Support To Bitcoin NFTs On Its Marketplace
Binance is one of the biggest crypto exchanges in the world. The exchange confirmed its support for Bitcoin NFTs. The decision has come at a time of massive turmoil in the crypto sector, proving Binance’s commitment to adopting the budding NFT industry. Binance Joins The Bitcoin NFTs Market The launch of Bitcoin NFTs on Binance’s… Continue reading Binance Increases Support To Bitcoin NFTs On Its Marketplace
NFTs Break Legal Ground Meant To Serve Anonymous Hackers
Nonfungible tokens (NFTs) made legal history in the past week. For the first time in a federal court, it was determined that sending an NFT can be considered serving legal notice. Judge Beth Bloom of the US District Court for the Southern District of Florida made this ruling. Why did the judge decide to use… Continue reading NFTs Break Legal Ground Meant To Serve Anonymous Hackers
Logan Paul Contends With Lawsuit Over Supposed CryptoZoo Rug Pull
Logan Paul, the YouTube megastar, is facing a class-action lawsuit about his CryptoZoo NFT project, which is accused of being a rug pull. The accusations allege that Logan Paul raised funds for the web3-based animal-themed game that does not exist. The lawsuit comes after Logan Paul took accountability and action to recoup investor losses. Here… Continue reading Logan Paul Contends With Lawsuit Over Supposed CryptoZoo Rug Pull
Japan Updates Its NFT Taxation Rules And Guidelines
Japan’s National Tax Agency (NTA) confirmed that it has updated its official nonfungible token (NFT) taxation guidelines. For instance, NTA will calculate the cumulative income of a citizen’s currency at the end of every year so that they will only need to pay taxes once. Officials now hope that the change will encourage the traders… Continue reading Japan Updates Its NFT Taxation Rules And Guidelines
BAYC Developer Yuga Labs And Moonpay Face Lawsuit Due To Celebrity NFT Promotions
The class action lawsuit claims that Yuga Labs leveraged a massive network of A-list athlete, celebrity, and musician clients to push the sales of their nonfungible token (NFT) collection. Yuga Labs, the developer of the popular Bored Ape Yacht Club (BAYC) NFTs, together with crypto fintech Moonpay is now facing class action lawsuits over the… Continue reading BAYC Developer Yuga Labs And Moonpay Face Lawsuit Due To Celebrity NFT Promotions