Binance Subsidiary Granted License in Southeast Asia | Weekly News Recap

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GM. Welcome back to BitPinas Key Points: easily digestible news in concise formats for easy reading. In today’s news feature, the Binance subsidiary in Indonesia has received a crypto license!

Here are the latest crypto news stories in the last 24 hours.

Market Updates 📈

Here are the crypto highlights of the week:

Bitcoin is down 9.7% vs the previous seven days, now at $57,741.65.
The weekly top gainer in the top 100 coins is Sui ($0.9399), up 19.2%
The weekly top loser in the top 100 is Maker ($1,591), down 9.6%
Noteworthy: Ton ($5.18) is down 1.2% vs the past week.

Feature Story: Binance Subsidiary Received License in Indonesia

Photo for the Article - Binance Subsidiary Granted License in Southeast Asia | Weekly News Recap

Tokocrypto, Binance’s Indonesian subsidiary, has secured a full license as a Physical Crypto Asset Trader (PFAK) from Indonesia’s Commodity Futures Trading Regulatory Agency (Bappebti).

What’s the significance: Tokocrypto is now the third crypto exchange to achieve this status in Indonesia, which is a big deal given the country’s strict regulatory framework.

Context: Indonesia introduced the world’s first national bourse for crypto assets in 2023, requiring all exchanges to register with the Commodity Future Exchange (CFX).

The numbers: More than 30 crypto exchanges have applied for licenses in Indonesia.

What’s next: Two things:

With a license, Tokocrypto is well-positioned to continue to expand its market share.
This is also a win for Binance, which has regulatory struggles in nearby Southeast Asia countries like the Philippines.

Local Crypto News 🇵🇭

ICP Hub PH shared the top 3 teams of the HOOKED 2.0 Hackathon.
Celo Philippines DAO was recently launched officially.
Solana-focused 3-unit course now on its 2nd semester in UP Diliman.
Coins.ph listed $ISK.

Noteworthy 🌟

Key updates and announcements from around the crypto and blockchain world:

Chainalysis reports that Southeast Asia’s online crypto crime marketplace processed over $49 billion in illicit transactions since 2021.
Top 10 Crypto Token Unlocks For August 2024.
Cryptocurrency phishing attacks surged by 215% accounting for the majority of the $66 million stolen in August.
ApeCoin‘s new BluePrint initiative aims to boost development and app creation for the upcoming ApeChain network.

Educational Corner 🎓

Web3 Game Guide:

Ragnarok: Monster World guide on how-to-play

Listicle Updates:

List of digital banks with high interest rates.
List of 170+ Cost Free Airdrops without spending money.

Digital Security:

Essential tips on securing your crypto assets.

Regulation Watch 📜

Stay informed about the latest regulatory updates from here and around the world and what they mean for you:

Qatar introduced the 2024 QFC Digital Assets Framework.
Nigeria SEC approved local exchanges to resume regulated crypto trading.
The FBI warns that North Korean hackers are using fake job and investment offers to trick crypto workers into downloading malware and stealing funds.
The Federal Reserve issued a cease and desist order to United Texas Bank for significant deficiencies in governance, risk management, and compliance related to crypto customers.

Community Spotlight 🔦

The following people were feature in last week’s community spotlights:

Leah Callon-Butler, co-founder and director, Emfarsis. (September 3)
Beryl Li, co-founder, Yield Guild Games (YGG). (September 4)
Christopher Star, Web3 PH. (September 5)
Verlin Santos, founder, Titik Poetry. (September 6)

At the Scene 📍

On the ground activations and more.

Bicol Traders Meet 2024

More Web3 and AI News 💡

Discover the latest in web3 and AI innovation.

GPT Protocol launched its mainnet, aiming to revolutionize AI in web3 by providing a decentralized infrastructure for AI applications.
BitcoinCitadel.Club launched a web3 platform for Bitcoin enthusiasts.
The DeFi protocol Penpie was exploited for $27 million in crypto assets while Pendle paused all contracts and confirmed investor funds on Pendle are safe.
Samsung Next invested in Startale Labs to boost Web3 development, partnering with Sony on the Soneium Layer 2 blockchain.

Web3 Gaming Section 🎮

The future of web3 is gaming, and here are the latest news.

The Ronin Network experienced significant growth, adding over 1.4 million new wallets in just two weeks.
Zynga sold its Web3 game Sugartown to D20 Labs, who plan to develop the game and other projects into the “future of rewarded play.”
Yat Siu, co-founder of Animoca Brands, views Hamster Kombat’s success on Telegram as a key breakthrough for web3 adoption.
Google unveiled GameNGen, an AI-powered game engine capable of real-time game simulation.