In a fascinating development, the Chinese market appears central to Binance, with $90 billion of business recorded, despite the country’s ban on cryptocurrencies. Even more intriguingly, Binance allegedly works closely with Chinese law enforcement agencies to curb potential illegal activities. Binance, however, countered these assertions, claiming its website remains inaccessible to China-based users.
Meanwhile, Coinbase might soon integrate Bitcoin’s Lightning Network for transactions. Coinbase’s CEO, Brian Armstrong, in response to Jack Dorsey’s tweet indicated the company’s interest in surging Bitcoin payments. OKX crypto exchange announced a “Smart Account” feature for its decentralized wallet. The innovative feature will let users transact on various blockchains using USDC or USDT.
Indicative of the growing role of technology in tackling climate change, Hyundai Motor Company and Kia Corporation have launched an AI-enabled, blockchain-based system to manage carbon emissions. The system uses the Hedera network to compute carbon emissions at every stage of the supply chain, thus enabling the auto manufacturers to obtain data spanning the entire range of their supplier’s operations.
In Europe, digital asset custodian Hex Trust has gained a Digital Asset Service Provider (DASP) registration from France’s financial authorities, marking a significant stride forward in servicing digital assets in this key market, as well as a potential for tapping into the unfolding European MiCA regulation.
In a slightly uncomfortable turn, Kenya’s Ministry of Interior suspended Worldcoin’s operations, a crypto protocol co-founded by OpenAI’s Sam Altman, due to concerns about citizens’ data collection.
On the decentralized finance (DeFi) front, SushiSwap, a DeFi exchange, is now available on the Core DAO’s network. This integration brings concentrated liquidity pools, cross-chain swaps, and a DEX aggregator on board. It also presents developers with a wider landscape for constructing new applications, services, and linking them to other applications within the Core ecosystem.
All in all, these developments underscore an exciting time for blockchain technologies, while highlighting the intricate dance between regulators and innovators. While the promise of blockchain continues to dazzle, the considerations around data privacy and security illustrate the challenges that emerge in a rapidly evolving digital ecosystem. However, as long as the dance continues, the future scope for blockchain seems expansive and beguilingly unpredictable.
Source: Cryptonews
