The Sandbox and OpenZeppelin announced a strategic partnership to strengthen security in the Metaverse. This and more news in this handy daily digest so you're always up to date with the latest events happening within the crypto world.
The Sandbox metaverse is committed to Web3 security
📍‌The Sandbox announced a strategic partnership with OpenZeppelin to ensure security on its metaverse platform. The announcement came on Thursday, when developers of Ethereum-based The Sandbox reported that blockchain-focused cybersecurity and technology firm OpenZeppelin has developed a new security service that will help the metaverse identify potential threats and anomalies in real time.
On Twitter, The Sandbox developers commented that this new security service is the first of its kind for the Metaverse and the Web3 industry.
The tool designed by OpenZeppelin will allow The Sandbox to access broadcast alerts and codebase analysis from its monitoring suite, to help reinforce the security of the metaverse platform and its smart contracts.
The first antitrust organization in the Metaverse is born
📍‌“Metaverse Competition Agency” is an agency created with the purpose of guaranteeing healthy competition within the Metaverse. Esta antitrust agency It will be responsible for monitoring cases of competition issues and developing strategies for their resolution, in order to keep virtual worlds free from situations of abuse of power, according to its website.
The headquarters of the Metaverse Competition Agency is located in Decentraland, one of the largest decentralized metaverses based on the Ethereum blockchain.
Hong Kong gives green light to Bitcoin ETFs
📍‌Two Bitcoin exchange-traded funds, or ETFs, managed by CSOP Asset Management, have been approved in Hong Kong. Hong Kong regulators have given the green light to two exchange-traded funds that track Bitcoin futures. The two ETFs, managed by CSOP Asset Management, raised a total of $73,6 million in the United States, before debuting on the Hong Kong stock exchange.
CSOP’s head of quantitative investing Yi Wang told Reuters that by approving these two Bitcoin ETFs, Hong Kong is demonstrating its confidence in cryptocurrencies, which have been struggling following the events of the failed FTX exchange. “Our two crypto futures ETFs demonstrate that Hong Kong remains open-minded in the development of virtual assets,” Wang said.
Japan shows its support for the cryptocurrency industry
📍‌The Japanese government is relaxing tax laws for cryptocurrency companies. On Thursday, the Liberal Democratic Party (LDP) approved a regulatory proposal to implement new tax exemptions for crypto-asset service companies. According to the proposal, such companies will be exempt from paying taxes on unrealized profits from cryptocurrencies held on their balance sheets.
According to Bloomberg, the Japanese country's initiative represents A support measure for the crypto industry, which has been hit hard by the recent collapse of FTX.
Deutsche Bank to use Artificial Intelligence to optimize its financial services
📍‌Deutsche Bank has signed a partnership with Nvidia to streamline its financial services. The alliance will allow the German bank to use Nvidia's technological solutions, based on Artificial Intelligence and Machine Learning, in its financial services in order to streamline and optimize its products and improve the quality it offers to its customers.
The German bank will also deploy Nvidia technology to develop smart avatars and improve its fraud detection and risk management services.
Bernd Leukert, member of the Executive Board of Deutsche Bank, stressed that the implementation of new technologies will strengthen the bank's leadership position and innovation.
Nvidia offers technology solutions, such as its Omniverse 3D simulation metaverse, which are being used by major brands and companies, including Amazon, BMW and NASA.
Continue reading: The crypto community rejects the bill presented by Elizabeth Warren and Roger Marshall
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