Nitro to build an L2 for Solana to combine with Cosmos and IBC
Nitro recently announced building a Layer 2 for the Solana network. This will be the first Solana scaling solution, connecting it to IBC and Cosmos.
Nitro will enable SVM compatibility to help developers launch their Solana-based dApps on Nitro. These dApps will also gain access across the IBC and Cosmos ecosystem. Apps developed on Nitro can also leverage the Sealevel VM to gain interoperability and high performance on IBC.
White House releases first crypto regulatory framework
The Biden White House has just released its first-ever framework on what crypto regulation in the U.S. should look like — including ways in which the financial services industry should evolve to make borderless transactions easier, and how to crack down on fraud in the digital asset space.
The new directives tap the muscle of existing regulators such as the Securities and Exchange Commission and the Commodity Futures Trading Commission, but nobody’s mandating anything yet.
Dogecoin becomes second largest PoW cryptocurrency
Meme-inspired cryptocurrency Dogecoin (DOGE) is now officially the second largest proof-of-work (PoW) crypto in terms of market cap, following the Ethereum network’s proof-of-stake (PoS) upgrade on Thursday.
Bitcoin (BTC) remains miles ahead of Dogecoin’s market cap of $7.83 billion, though the well-followed meme coin is still comfortably ahead of the third place PoW cryptocurrency Ethereum Classic (ETC) with a market cap of $4.69 billion, Litecoin (LTC) at $4.01 billion and Monero (XMR) at $2.65 billion.
Binance Argentina adds SHIBA INU support on its card
Towards the end of August, Binance and Mastercard launched the pilot of a prepaid card in Argentina to aid users using crypto for everyday purchases.
Now, Binance Argentina has added SHIBA INU to the list of supported tokens on its cards in the said country. The official announcement on Twitter highlighted that SHIB can be used to pay more than 90 million merchants worldwide. Notably, users will also get cashback and ATM fee benefits.
Tesla launches new Cyberwhistle that can only be bought using Dogecoin
According to a new product catalog posted on Wednesday, electronic vehicle manufacturer Tesla is rolling out a new Cyberwhistle inspired by its futuristic Cybertruck series.
Tesla requires buyers to pay only in Dogecoin (DOGE). The price tag at the time of publication is 1,000 DOGE or around $60. Taxes and shipping are included in the DOGE price.
Vietnam tops global crypto adoption index dominated by emerging markets
Blockchain analytics firm Chainalysis has released a report titled “The 2022 Global Crypto Adoption Index.”
According to the data, Vietnam, Philippines, Ukraine, India, Pakistan, Nigeria, Morocco, Nepal, Kenya and Indonesia hold positions in the top 20 countries in terms of overall index score, with Vietnam holding the number one spot.
Thailand bans crypto lending and staking services
The Thailand Securities and Exchange Commission (SEC) has prohibited cryptocurrency companies from offering digital assets lending and staking products, or depository services.
The regulator said in a press release on Thursday that the decision was made to protect traders and the general public from business risks associated with companies offering depository services.
Uruguay proposes to bring digital assets under Central Bank control with new crypto bill
A bill granting the Central Bank of Uruguay (BCU) the authority to control virtual assets was submitted to the country’s parliament.
Apart from changing the legal powers of the BCU, the Financial Services Superintendence (SSF) is placed to oversee a new category of virtual asset service providers, per the local reports.
BNB Chain to collab with Google Cloud to bolster Web3, blockchain startups
Binance’s smart contract blockchain platform BNB Chain has partnered with Google Cloud to bolster Web3 and blockchain startups.
Startups that are currently building products and services on the BNB Chain blockchain will also be able to build on Google Cloud’s scalable, secure and open source infrastructure.
SWFTC rises 23.49% after 24h
Although the entire crypto market went down due to Bitcoin, SWFTC, the native token of the SWFT Blockchain, still witnessed impressive growth over the past 24 hours.
SWFTC is currently leading the Top Gainers on ONUS with growth rate of 23.49%. This asset is trading at $0.00196548, with a trading volume of 121.77 thousands USD.