Binance Subsidiary Granted License in Southeast Asia | Weekly News Recap
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.
Table of Contents
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
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.
Upcoming Event 📅
- Web3ÂI: September 14, 2024
- Scarletbox x Atsbury: Night of Arts and Chats: September 19, 2024
- Blockchain Campus Conference 2024: October 10, 2024
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