Monat: Januar 2023

• Ukraine will become the world’s best jurisdiction for crypto assets, according to the country’s Minister of Digital Transformation Mykhailo Fedorov.
• Crypto donations were „critically helpful“ during early stages of Russia’s military invasion, Fedorov said.
• The government is developing the necessary legal framework for the full legalization of cryptocurrencies.

Ukraine is set to become the world’s best jurisdiction for crypto assets, according to the country’s Minister of Digital Transformation Mykhailo Fedorov. Speaking to media at the World Economic Forum in Davos, Switzerland, Fedorov praised the support from the crypto community for his war-struck nation. He highlighted that during the early stages of Russia’s military invasion, donations through cryptocurrency were „critically helpful to Ukraine.“

The Ukrainian government is now hard at work developing the necessary legal framework for the full legalization of cryptocurrencies. A law „On Virtual Assets“ was passed by the Verkhovna Rada, the Ukrainian parliament, in mid-February. To come into full force, amendments to the Tax Code are also needed. Once they are adopted, Ukraine will have the best crypto jurisdiction in the world, Fedorov insisted. He further pointed out that Ukraine is a candidate for EU membership, and therefore has to harmonize with European law, taking into account the practices and recommendations of the IMF and the World Bank.

The Vice Prime Minister and Minister of Digital Transformation also marked that he would like to be paid in Ukraine’s digital currency, the e-hryvnia, if it becomes available. This would signify that the government has fully embraced the technology and the new asset class.

Fedorov’s comments highlight the fact that the Ukrainian government is taking a progressive stance on cryptocurrency and blockchain technology. It is hoped that the adoption of these new technologies will help propel the country’s economy forward, improve its infrastructure and create new jobs. With the right legal framework and the right incentives, Ukraine could become a major player in the global crypto industry.

• Binance, a cryptocurrency exchange, has been granted registration as a financial institution in Sweden by the Swedish Financial Supervisory Authority.
• This is the seventh EU Member State in which Binance has received authorization, with prior authorizations in France, Italy, Lithuania, Spain, Cyprus, and Poland.
• Binance Nordics AB has adopted risk and anti-money laundering policies to match local requirements.

Binance, one of the world’s leading cryptocurrency exchanges, has recently been authorized to operate in seven European countries. The Swedish Financial Supervisory Authority (SFSA) recently granted Binance a registration as a financial institution for management and trading in virtual currency, making Sweden the seventh EU member state to give the exchange official approval.

The registration allows Binance to launch a website in Swedish and market its digital asset services directly to consumers in the Nordic country. According to Per Nordkvist, deputy head of the SFSA’s banks division, the Swedish FSA authorization provides a much-needed boost of trust and transparency in the cryptocurrency industry.

Binance Nordics AB, the company’s Swedish entity, has adopted risk and anti-money laundering policies to match local requirements. Roy van Krimpen, Binance’s Nordics and Benelux lead, noted that the company will be focusing on successfully migrating and launching local operations, including hiring local talent, organizing more events, and delivering more cryptocurrency education in Sweden.

Binance has previously received regulatory permissions or approvals in 15 jurisdictions. Beyond Europe, the crypto exchange has received authorization to provide services in Bahrain, Australia, New Zealand, Canada, and South Africa.

The exchange is always looking to expand its services and become a global leader in the cryptocurrency industry. Binance has recently launched a crypto-backed loan program and acquired a number of crypto wallets and exchanges in 2020.

The SFSA’s decision to authorize Binance is a major milestone for the company, as well as the cryptocurrency industry in general. The move will help further legitimize the industry, as well as open up new doors for further growth and innovation. With its operations now officially authorized in seven EU member states, Binance is in a strong position to continue its journey towards becoming a global leader in the cryptocurrency space.

• Huobi, a cryptocurrency exchange, is reportedly laying off 20% of its employees.
• Justin Sun, Huobi’s advisor and the founder of Tron, initially denied the reports, but a Huobi spokesperson later confirmed them.
• The layoffs were reportedly met with protests from some of the employees.

Huobi, one of the world’s most popular cryptocurrency exchanges, has been hit with controversy as reports of employee layoffs have surfaced. According to multiple reports, Huobi is laying off 20% of its staff in response to the current bear market.

Justin Sun, Huobi’s advisor and the founder of Tron, initially denied the reports when approached by the South China Morning Post (SCMP). However, a Huobi spokesperson later confirmed the layoffs to Coindesk, saying that the exchange plans to maintain „a very lean team“ going forward.

The news of the layoffs has been met with protest from some of the affected employees. Colin Wu first reported on the situation on Dec. 30, 2022, stating that Huobi was cancelling all year-end bonuses and planning to reduce its staff from 1,200 to 600-800 people. Wu also mentioned that Huobi’s HR was communicating with all employees to change their salary form from fiat currency to USDT/USDC, with those who refused to accept the change potentially being dismissed.

The ongoing bear market has forced cryptocurrency exchanges to take drastic measures in order to remain competitive and maintain their operations. Huobi is no exception and the exchange has taken steps to ensure its survival. The 20% staff cut is a major decision and one that has sparked both controversy and speculation. It is unclear what the long-term effects of the move will be, but one thing is certain: the cryptocurrency industry is undergoing a major transformation and Huobi is just one of many exchanges that are feeling the effects.

• BONK is a meme coin that recently launched on the Solana network that has a circulating token supply of around 41.5 trillion and a market capitalization of around $63 million.
• The 50% of BONK distribution was split into fractions and 20% went to Solana-based non-fungible token (NFT) collectors. 15% was distributed to early openbook traders, 10% to Solana artists and collectors, and 5% to Solana developers.
• BONK started to see real-world value on Dec. 29, 2022, when it was trading for $0.000000086142 per token. By Jan. 5, 2023, it jumped to an all-time high (ATH) at $0.00000487 per BONK.

The crypto asset bonk inu (BONK) has been the talk of the town in recent times, grabbing the attention of crypto enthusiasts with its wild price fluctuations and massive holder concentration. With a circulating token supply of around 41.5 trillion and a market capitalization of around $63 million, BONK has become the sixth-largest meme coin asset.

BONK is a meme coin that was launched on the Solana network and has been described by its development team as „the first Solana dog coin for the people, by the people with 50% of the total supply airdropped to the Solana community.“ The airdrop boosted the price of solana (SOL) as the project has been dealing with negativity stemming from its former relationships with Sam Bankman-Fried, Alameda Research, and FTX. The 50% of BONK distribution was split into several different parts; 20% went to Solana-based non-fungible token (NFT) collectors, 15% was distributed to early openbook traders, 10% to Solana artists and collectors, and 5% to Solana developers.

The meme coin began to gain traction in late December of 2022, with its price starting at a low of $0.000000086142 per token. However, just a week later, the price of BONK saw a meteoric rise, with the token reaching an all-time high (ATH) of $0.00000487 per BONK on January 5th, 2023. Unfortunately, the surge was short-lived as the coin quickly dropped back down to its original price just 24 hours later.

Since then, BONK has been seeing a lot of attention from the crypto community and has been steadily gaining in value. The coin has also seen a lot of holder concentration, with a few whales controlling a large portion of the total circulating supply. The team behind BONK has also been actively looking for ways to increase its user base, and is currently in talks to list the token on several major exchanges.

Overall, BONK has been a wild ride since its release, and it will be interesting to see how the coin performs in the future. With its high volatility and potential to make huge gains, the meme coin is sure to attract a lot more attention in the coming months.