Crypto industry events of the week. Find out the most important news in Crypto Digest
It’s been a pretty quiet week, of course, the FTX case is gaining momentum, but there are also some interesting events happening in other areas. For example, ByBit is tightening its KYC policy. What does it mean? Non-verified users will now not be able to use fiat currency as a deposit, nor will they be able to conduct transactions on ByBit’s p2p and NFT marketplace. Accordingly, the limits for non-verified users will also change from 2 BTC/day to $20,000/day and $100,000/month.
Some major changes in cryptocurrency regulation are coming,according to the news. Maybe FTX did their best here as well?
The Securities and Exchange Commission (SEC) has called for companies to report on their cooperation with the crypto industry. That is, to publicly disclose information about interactions with crypto assets or transactions, about doing business with counterparties that also interact with crypto assets.
The requirements particularly focus on companies that have directly or indirectly interacted with cryptocurrency companies in bankruptcy, have excessive redemptions of crypto assets, or are accused of corporate compliance violations. Such companies need to report the actions and document the impact of counterparty bankruptcy and measures to protect customer funds.
Meanwhile, Coinbase’s CEO has stated that revenues are likely to fall by 50%! He said it was $7bn in revenue that year and about $4bn according to EBITDA, but given the situation in the market over the past month and what changes have taken place during the year according to regulatory updates in Europe and the US, revenue in 2022 will only be 50% of last year.
But BIT.TEAM has launched a New Year’s Eve giveaway in which anyone can enter and win!
There will be 3 winners with a prize pool of 100,000 BTT, with 7 winners chosen at random to receive official merchandise. Go to our VKontakte group and leave your screenshots of the transactions. Winners will be chosen on 31st December!
When you go to exchange, pay attention, a new token has been added to the listing — REV3L. The token is part of the REV3L project, which is a digital copyright and anti-counterfeiting solution for artists, authors and intellectual property owners in digital and physical ecosystems.
The REV3L project uses the power of blockchain to provide its new multi-level authentication and anti-counterfeiting protocol. Any user (creator, collector or marketplace) can verify the authenticity of their collection.
That’s how another crypto week has gone! The year is winding down, and as usual, December has some of the most interesting and vibrant events happening. Trading doesn’t wait, see you on BIT.TEAM!