Animoca Brands and Mitsui & Co team up to accelerate Web3 ecosystem innovation in Japan. This and more news in this handy daily digest so you're always up to date with the latest developments in the crypto world.
Animoca Brands and Mitsui & Co to boost Web3 in Japan
📍Animoca Brands has partnered with Mitsui & Co to accelerate Web3 innovation in Japan. Through the partnership, the gaming software developer will contribute to the growth of new technology innovation in the Japanese market, taking advantage of the fact that the national government has adopted a friendly approach towards blockchain and Web3 as part of its national strategy to maintain its technological leadership.
According to explained Animoca Brands, Mitsui will leverage its extensive industrial and commercial networks to create new businesses that will contribute to the development of Web3 solutions at the enterprise and societal levels and drive Japan's digital transformation.
Decarbonisation is one of the goals that Animoca Brands and Mitsui are aiming for with their recent partnership. The companies want to provide solutions that guarantee efficiency and transparency in carbon credit markets through Web3.
Asia moves forward in regulating the crypto industry
📍Hong Kong looks to its neighbors to develop its crypto policy. A study by the Hong Kong government's Research Bureau points to the need to take as an example the regulatory frameworks that countries like Japan and Singapore are building to explore new technologies in order to build new policies in the region that support innovation in the crypto sector.
El study The report by the Hong Kong office also points to Hong Kong's need to regain its status as a technology hub, urging the government to accelerate the development of Web3 and its foundations, including blockchain, cryptocurrencies, NFTs and DeFi, to improve its competitiveness compared to other jurisdictions.
Despite Hong Kong's progress in digital assets, the Bureau of Investigation argues that the region is lagging behind in Web3 development.
Meanwhile, the Hong Kong Monetary Authority (HKMA) is working on creating a regulatory framework for stablecoins. The authority recently opened a public consultation process to receive comments on the treatment of these digital assets. According to local media, Hong Kong could introduce a regulation for stablecoins by the end of this year.
Deutsche Bank applies for a license to hold virtual assets
📍Deutsche Bank has applied for a virtual asset license from Germany's financial authority, BaFin. By obtaining this license, Deutsche Bank will become a custodian of virtual assets, including tokens and cryptocurrencies. Deutsche Bank is one of the largest financial companies in the world, headquartered in Frankfurt, Germany. Currently, this entity manages more than $18.000 billion, according to Citywire data.
Deutsche Bank's commercial banking unit head David Lynne told Bloomberg that the company is building out its virtual asset business and is targeting custody services to expand the services it offers to its clients.
Coincub ranked Germany as one of the world's top crypto economies in 2022 based on investor interest, financial infrastructure, and government policies towards the crypto sector.
ChatGPT integrates with Etherscan
📍Ethereum block explorer Etherscan has integrated ChatGPT artificial intelligence to improve its services. OpenAI-created chatbot ChatGPT is featured in Etherscan’s Code Reader tool, giving users the ability to retrieve and interpret the source code of specific contract addresses on Ethereum.
According to the Etherscan developers, the integration of artificial intelligence will improve the understanding of the Ethereum source code, allowing more people to become familiar with it and interact with it more easily.
New malware discovered affecting cryptocurrency wallets
📍The new malware, dubbed “Mystic Stealer,” can affect 21 cryptocurrency apps and 55 cryptocurrency browser extensions, researchers from InQuest and Zscaler said. The malware, which was detected last week, has been spreading since April. Security researchers from both companies said Mystic Stealer has the ability to steal different types of information, from login credentials to cryptocurrency private keys.
Mystic Stealer can collect autofill data, browsing history, arbitrary files, cookies, and information related to various cryptocurrency wallets, InQuest stated in its reportThe malware also targets credentials for popular apps like Telegram and Steam.
Due to the sophistication of this malware and its constant development, security researchers advise users to exercise extreme caution when downloading software from the Internet.
Continue reading: Ethereum developers propose expanding the stake of the nodes up to 2048 ETH
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