Welcome to the weekly news update on cryptotvplus, it is the 7th of October 2022, I’m Nike Oshunniyi bringing you the weekly dose of blockchain news.Coming up,
EU Council Endorses MiCA Legislation
Eu Council Endorses Crypto
– Binance Resumes Operations after Crypto hack
Paxful Becomes Africa Bitcoin Conference Major Sponsor
Paxful Sponsors Africa Bitcoin Conference
– Swiss Unveils First Metaverse Watch
– Events Packed For The Month of October & More
First up,
The Committee of Permanent Representatives (COREPER) has approved the final version of the Markets in Crypto Assets (MiCA) legislation, according to a document published by the Council of the European Union after a meeting on Oct. 5. The committee is made up of the heads of missions of the EU member states in Brussels.
The European Parliament has been informed about the endorsement in correspondence to the Committee on Economic and Monetary Affairs (ECON) which is expected to meet and vote next week.
They also agreed on a set of anti-money laundering rules for transactions involving crypto assets.
Moving on,
Hackers broke into the cross-chain bridge linking Binance with Binance Smart Chain (BSC) to shift the funds. These bridges are designed to facilitate the movement of tokens from one blockchain to another.
The cryptocurrency exchange temporarily froze its blockchain network after the major hack.
CEO Changpeng Zhao confirmed on twitter that: “An exploit on a cross-chain bridge, BSC Token Hub, resulted in extra BNB. We have asked all validators to temporarily suspend BSC. The issue is contained now. Your funds are safe. We apologize for the inconvenience and will provide further updates accordingly.”
He added a link to a Reddit post detailing the temporary suspension of BNB Smart Chain and further detailing actions taken after the incident.
Meanwhile,
Paxful, the global peer-to-peer fintech platform, has been announced as one of the lead sponsors for the first annual Africa Bitcoin Conference (ABC), taking place on 5 – 7 December, 2022 in Accra, Ghana.
The conference, titled; “Accelerate Bitcoin Adoption in Africa,” aims to foster collaboration among thousands of Bitcoin developers, technologists, investors, advocates, and educators working in the African bitcoin ecosystem. Additionally, the event hopes to strengthen knowledge and resource sharing and form connections between African influencers and those working around the globe.
The three-day event will see Paxful founder and CEO, Ray Youssef give a keynote presentation on the event’s main stage—championing Accra as one of the biggest hubs for the future of finance and a bridge to Africans. During his keynote, Ray will share why he still believes Africa is leading the way to a financial revolution through Bitcoin.
Farida Nabourema, head of the Africa Bitcoin Conference, said, “the conference will be the first of its kind, bringing together Bitcoin stakeholders from across Africa and beyond. Numerous networking opportunities will be offered during the conference, and we are honoured to partner with Paxful with the intention of being a point of entry for organizations throughout the Africans to embrace this innovative technology.”
Finally,
Chronoswiss, a Swiss watch company enters the Web3 realm with its metaverse watch.
The metaverse watch is dubbed the “Open Gear ReSec Sugar Rush.”
Users can check out the watch in its digital Atelier in the Decentraland metaverse.
The Metaverse watch collection is a limited edition of only 100 pieces. To provide an example, the interior of the case is vibrantly colored in purple and is a combination of hues. It is a hybrid piece that showcases both traditional mechanical watchmaking techniques and the bright future of digital technology.
Oliver Ebstein, owner, and CEO of Chronoswiss stated:
We understand the Metaverse as the next evolutionary step of the internet, where business and gaming merge into a unique customer experience. We are aware that it is a bet on a yet unclear vision, but it is beyond exciting and every promising vision needs people to believe in it.
Ebstein added that the virtual Atelier is a lab for extraordinary ideas in a world that has really no limitations. Chronoswiss also claims to be one of the first to open a virtual watch boutique in the Decentaland metaverse.
Out of the 100 rare metaverse pieces, 8 of them will be recreated as luxury wearable 3D watches. The eight watches will be available in its Lucerne atelier in Switzerland. Each of these watches will also be connected to an NFT.
Brands from every industry are trying to establish their presence in the web3 realm.
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