In a bold move, Liechtenstein’s government plans to accept Bitcoin as payment for state services, according to Prime Minister Daniel Risch’s statement to Handelsblatt. Although cryptocurrencies like BTC aren’t given equal status to the Swiss franc, the country’s official currency, Risch suggested the potential for incorporating cryptoassets in state reserves. This reflects a progressive approach towards blockchain technology and cryptocurrencies, signaling that officials are keeping an eye on the developing market.
However, even as some governments seem open to embracing digital assets, regulators continue to enforce strict measures on the industry. The New York State Attorney General, Letitia James, has proposed a bill titled ‘Crypto Regulation, Protection, Transparency, and Oversight (CRPTO) Act’, which would prevent crypto exchanges from trading their own tokens and holding customer funds like a bank. This act aims to safeguard users’ investments from potential risks.
The conflict between governments and regulators is also notable in South Korea, where the Financial Services Commission’s Financial Intelligence Unit (FIU) reported an opposition party lawmaker’s suspicious crypto transactions. Rep. Kim Nam-kuk of the Democratic Party of Korea is suspected of withdrawing 800,000 WEMIX tokens in a span of a few weeks, warranting further investigation by the prosecutor’s office.
Taking a different approach, exchange giant Binance resumed Bitcoin withdrawals after a temporary pause due to congestion on the network. To prevent similar problems in the future, Binance has adjusted its fees and is on the way to enabling BTC Lightning Network withdrawals. This shows the exchange’s resilience and adaptability in the face of network challenges.
In the realm of decentralized finance (DeFi), MetisDAO Foundation recently announced the deployment of Aave Protocol V3 on Metis Layer 2 with support from the Metis and Aave communities. The integration is expected to enhance network speed, security, and unlock new on-chain liquidity and DeFi capabilities, benefiting users.
Meanwhile, asset marketplace Blocktrade is launching its gamified crypto platform, Blocktrade 3.0, merging gaming with crypto investing. The platform offers users an interactive experience, allowing them to earn BTEX tokens and XP points by progressing through the platform’s levels and unlocking various benefits, such as trading bonuses and discounted fees.
Finally, Web3 platform Dirt has joined forces with Trellis Literary Management to develop books based on Dirt’s unique perspective on digital culture and entertainment. As digital assets find their way into mainstream media, the literature inspired by these platforms may offer new insights into the ever-evolving world of blockchain technology and crypto investments.