In a Telegram conversation with CoinDesk, Matter Labs’ head of business development, Omar Azhar, described the chain as “a public and permissioned L2. Memento Blockchain for Compliance, another project participant, did not immediately reply to a request for comment when he referred a reporter to them for further details. In a typical public permissioned setup, everybody may view the network traffic, but only authorized users can make specific changes. Bank’s Layer-2 Blockchain for Compliance At a time when the value of many cryptocurrencies is at an all-time high, this project reflects the institutional community’s fresh enthusiasm for blockchain technology. This…
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The Blockchain Association Challenges has joined up with another group to file a combined complaint challenging the IRS’s most recent effort to regulate cryptocurrencies. On Dec. 27, the IRS finalized regulations mandating the reporting of digital asset transactions by brokers. These laws broaden the scope of reporting to encompass front-end platforms, like decentralized exchanges (DEXs), in addition to the previous requirements. US Brokers to Disclose Crypto Earnings The regulations, which are scheduled to be implemented in 2027, require brokers to reveal. The total amount of money made from the sale of digital assets and cryptocurrencies, as well as details about the…
The government of China has made significant strides in improving its data management capabilities. Two other agencies, including the National Development and Reform Commission, issued detailed recommendations for creating a nationwide data infrastructure on Monday. The goal of this project is to streamline the administration and interchange of data across different industries. The rules place a heavy emphasis on investigating Blockchain Strategy for Data technology. It is the goal of the government to establish a safer data ecosystem through the use of smart contracts. One potential answer for protecting sensitive information is blockchain technology, which is well-known for its use…
In a research note published on December 30th, Grayscale has included the tokens of numerous artificial intelligence platforms and decentralized finance (Grayscale Adds DeFi) applications in its list of the top 20 tokens to monitor during the first quarter of 2025. Additionally, Hyperliquid (HYPE), Ethena (ENA$1.15), Virtuals (VIRTUAL), Jupiter (JUP$0.9475), Jito (JTO$3.22), and Grass (GRASS) have been added to the watch list for the first quarter of 2025, which is updated every quarter by Grayscale. Grayscale Highlights Key Trends in Crypto According to Grayscale, each new addition benefits from one of three market trends. A more lenient regulatory climate in…
There has been an immediate outcry within the Crypto Industry Pushe industry in response to the final regulations that designate various decentralized finance (DeFi) protocols as brokers. There have been calls for the upcoming Congress to reverse the new laws. According to the new laws disclosed by the Internal Revenue Service of the United States on December 27th, front-end protocols that facilitate digital asset transactions are treated as brokers and must disclose trades using the Know Your Customer policy. The government has stated that the regulations will affect up to 875 DeFi brokers. Legal Experts Slam IRS Overreach As a…
There have been tremors in the cryptocurrency market due to the new IRS reporting requirement that labels decentralized finance (DeFi Faces Uncertainty) front-ends as brokerages. Alex Thorn, the chief of research at Galaxy Digital, outlined three potential scenarios for DeFi if the IRS regulation remains unchanged. Thorn states that DeFi services and applications have three options: comply with IRS reporting rules. Accept the brokerage label, try to prevent users from the US, or forego updating smart contracts and income creation. DeFi apps are exempt from broker reporting The proposal may exempt DeFi applications without a front-end website or non-upgradable contracts…
In 2024, artificial intelligence had a very successful year. Aside from winning accolades and attracting investors, the cutting-edge innovation also won over Wall Street with its mathematical reasoning capabilities, which it used to explain differential equations and others. Privacy and safety concerns piqued the interest of regulators around the world. Some were concerned that AI would eventually surpass human intellect and develop into AGI and, ultimately, superintelligence. Bioterrorism, automated weapon systems, and “extinction-level” catastrophes were among the dire possibilities considered and debated. Generative AI Tech and Business Revolution in 2024 Generative artificial intelligence (GenAI) is a subset of AI that…
With the release of Pectra, two planned Pectra Merging Ethereum network upgrades, Electra and Prague, have merged into a single, more efficient one. We will release the entire Pectra package in early 2025. Smart contracts and decentralized applications (dApps) run on the execution layer, while the consensus layer handles proof-of-stake. Petra affects both layers. To summarize, Pectra’s goal is to improve the safety and usability of Ethereum wallets. Additionally, validators can now invest up to 2048 ETH, with the minimum stake remaining at 32 ETH. The Ethereum development team is now debating which EIPs (Ethereum Improvement Proposals) to implement. The…
Honeypot Crypto scams can take two forms, but they both lead to the same result: your money will be lost if you fall for them. The most popular definition of honeypot Crypto requires immutable tokens. Another more manual approach is to transfer tokens to the wallet of a scammer. In the end, you won’t be able to withdraw the tokens. This article will teach you how to spot the two main kinds of honeypot Crypto frauds and stay out of their clutches. We will begin immediately. Crypto Honeypots Scam Investors Crypto honeypots are deceptive schemes that lure Crypto users but…
Skepticism among investors grows as Solana experiences a downturn. Intel Markets Rises AI altcoin offers advanced trading tools and early-stage growth possibilities. Once a Crypto powerhouse, Solana is now on a steady decline. After its record $10 price point, it fell precipitously, leaving investors bewildered about what to do next and where to get a return on their investment. Anyone brave enough to join the AI-driven cryptocurrency bandwagon is embarking on a new era of opportunity. Intel Markets (INTL), a project that combines cutting-edge AI techniques with flawless trading systems, is at the heart of this change. With the support…