The ultra-modern city of Dubai has authorized the trading of bitcoins and other cryptocurrencies in its duty-free Free Zone. This and more news is in this handy daily digest so that you are always up to date with the latest events happening within the crypto world.
Bitcoin and Blockchain Adoption
📍Dubai's Securities and Commodities Authority (SCA) has announced a recent agreement with the DWTCA to boost cryptocurrency trading. The financial authority of Dubai, one of the most important cities in the United Arab Emirates and one of the most ultra-modern and richest in the world, is promoting the trading of bitcoins and other cryptocurrencies, . The SCA reported that it has signed an agreement with the Dubai World Trade Centre Authority to support crypto-asset trading within its free zone, where transactions are not subject to tax.
According to the authority, the agreement establishes a framework that will allow the DWTCA to issue and deliver licenses and authorizations to companies for the conduct of financial activities related to bitcoin and cryptocurrencies, in order to provide new development opportunities for local and international companies. The SCA assured that the DWTCA Free Trade Zone provides an ideal environment for the development and growth of new companies.
CBDC and Central Banks
📍The Central Bank of Chile joins the CBDC fever. In Chile, the Central Bank of the Latin American country reported that it is preparando for the development of a central bank digital currency, known as CBDC for its acronym in English, to address the innovation of digital finance. The country's president, Mario Marcel, announced the news during the event Innovation in the financial industry, held virtually in the country recently.
Marcel explained that the nation is focusing on the reactivation and digitalization of its economy, so the government has appointed a research group to investigate all aspects related to new technologies, including CBDCs. Chile is thinking of a CBDC that will help the country optimize its financial system to offer greater efficiency between retail, wholesale and cross-border payments.
Miners
📍Crypto mining company Argo Blockchain sold 7,5 million shares for over $100 million. Argo Blockchain, listed on the London Stock Exchange (UK), has raised $112,5 million from the sale of its shares on the Nasdaq. The crypto mining company solicitous the U.S. Securities and Exchange Commission (SEC)'s authorization in August to sell 7,5 million depositary shares (ADSs), priced at $15 per share. Argo's ADSs represent a total of 75 million common shares of the company.
Cybersecurity
📍Bitcoin.org was attacked to scam its users. The Bitcoin portal posted a typical industry scam while being attacked by an unknown malicious actor. Cobra, the anonymous developer of Bitcoin.org, warned on Twitter that the portal was compromised, so the information posted on it at the time was completely false.
The page displayed a message inviting users to send bitcoins to an address to supposedly receive double the amount sent. At the time of this writing, the BTC address posted on Bitcoin.org holds nearly $17.600 worth of BTC, suggesting that some unsuspecting users fell for the scam.
📍In Mexico, hackers seized INAI's computing resources to mine cryptocurrencies. Via Twitter, Mexico’s National Institute for Transparency, Access to Information and Protection of Personal Data (INAI) reported that its National Transparency Platform had been hacked and was the victim of a cryptocurrency mining attack. Specifically, the hacker(s) hijacked the Institute’s computing resources to dedicate them to crypto mining. The INAI noted that it had noticed that its Transparency Platform’s system was operating with glitches intermittently. At press time, the INAI has not specified which cryptocurrency was mined with its computing resources.
Upon detecting the attack, the Institute's cybersecurity team began working quickly to stop the attack, restore its transparency system, and reestablish its services.
Rules and Regulations
📍Canada regulates cryptocurrency advertising. Canadian regulators published new rules to regulate cryptocurrency advertising within the country. According to the Canadian Securities Administrators (CSA) and the Investment Industry Regulatory Organization (IROC), companies that want to advertise cryptocurrencies will have to adhere to the new regulations to avoid "advertising and marketing materials that could mislead investors." Specifically, Canadian regulators have advised that advertisements by cryptocurrency companies and service providers should not encourage investors to take risks in the crypto space.
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