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Legislation has been introduced in the American state of South Dakota to amend the Uniform Commercial Code (UCC) to limit the definition of money to exclude cryptocurrencies. Central bank digital currencies (CBDCs) would still be considered money under the proposed new definition. The 117-page amendment, introduced into the state House of Representatives by Republican Mike Stevens, defines “money” as “a medium of exchange that is currently authorized or adopted by a domestic or foreign government. The term includes a monetary unit of account established by an intergovernmental organization or by agreement between two or more countries.” The bill continues:“The term does…

ZK, ZK-VM, and. ZK-EVM To understand the specifications behind each ZK road project, let’s first understand the basic concepts involved in ZK. ZKP (Zero Knowledge Proof) stands for zero-knowledge proof, which refers to solving the privacy and scalability issues of the blockchain through mathematical cryptography, mainly through validators and users, to verify the accuracy of data without disclosing it. ZK-VM is a zero-knowledge proof-based virtual machine that combines a ZK proof and a VM (Virtual Machine). The ZK-VM typically consists of two important components: a compiler that can compile high-level languages such as C++ and Rust into intermediate (IR) expressions…

NFT Shopify is partnering with Thirdweb, the revolutionary technology platform for creating NFTs and Web3 apps, to launch Commercekit. As a reminder, Shopify is a Canadian company that develops and markets the e-commerce platform of the same name, the Shopify POS (Point-Of-Sale) system, and marketing tools dedicated to businesses Full details below. Shopify, Thirdweb, NFTs and Web3: what it’s all about Commercekit’s capabilities Statements regarding the NFT partnership between Shopify and Thirdweb Shopify and the introduction of Avalanche-based NFT Shopify, Thirdweb, NFTs and Web3: what it’s all about As anticipated, Shopify is partnering with Thirdweb to launch Commercekit, a kit…

The Office of the Attorney General for the District of Columbia in the United States is moving forward on a lawsuit against business intelligence firm MicroStrategy executive chair Michael Saylor related to tax evasion.According to a Feb. 28 filing with the U.S. Securities and Exchange Commission, MicroStrategy said the court had not dismissed a claim against Saylor for failing “to pay personal income taxes, interest and penalties due” following an October 2022 motion from the firm. However, the court granted a motion dismissing allegations that Saylor — on his own and acting in concert with MicroStrategy — violated the District…

The world of non-fungible tokens has gained a new player with the announcement that Electronic Arts (EA) founder Trip Hawkins has joined Web3 startup Games for a Living. The company hired Trip as a co-founder and chief strategy officer to leverage blockchain technology’s power and the growing interest in NFTs to develop innovative new gaming experiences. Games for a Living has released its first multiplayer game, Elemental Raiders, set in a mystical world with magic and treasures. By March, the game will integrate NFTs and the GFAL token, allowing players to earn and trade rare in-game assets on the blockchain. The…

Cryptocurrency exchange Coinbase announced that it had terminated its partnership with Silvergate Bank as its United States dollar banking partner, citing an ongoing investigation. In a tweet, the exchange said: “In light of recent developments & out of an abundance of caution, Coinbase is no longer accepting or initiating payments to or from Silvergate.“The crypto exchange will facilitate institutional client cash transactions for its prime customers with its other banking partner, Signature Bank. The stocks of Silvergate Bank, which were already under stress due to a delay in filing its annual 10-K report, dropped another 40% in pre-market trading. Silvergate Capital…

NFT Despite the prices of most major cryptocurrencies stagnating over the course of the last 30-days, with the likes of Bitcoin and Ethereum only up a respective 1.7 and 4.0% and BNB and XRP down 3.9% and 7.0% each according to CoinMarketCap, the prices of non-fungible tokens (NFT) have been pumping. According to NFT Price Floor, the price floor to get your hands on an NFT from the Bored Ape Yacht Club (BAYC) collection has jumped 17.5% over the course of the last 30-days to $117,750. BAYC NFT Price Floor over the last 90-days The Bored Ape Yacht Club NFT…

Amid various reports about Binance trying to revive its crypto licensing plans in Singapore, the crypto exchange has set the record straight. Binance told Cointelegraph that Ceffu, its “independent institutional custody partner,” will apply for an institutional crypto custody license when Singapore’s central bank opens applications.Singapore has established itself as a hub for crypto businesses owing to its flexible tax policies, access to diverse tech talent and convenient location, which allows companies to operate smoothly within the region in Asian time zones. The Monetary Authority of Singapore (MAS) is expected to open up the crypto custody licenses for institutions after relevant…

NFT It was just over four months ago when Blur launched as a no-fee non-fungible token (NFT) marketplace targeting “pro” NFT traders. Its no-frills user interface and advanced features like “floor sweeping” across multiple marketplaces, fast “snipe reveals” and portfolio analytics tools, quickly made it a favorite among fast-paced traders looking to get the best deal and maximize profits. Blur’s popularity spiked last month upon the release of its native BLUR token, which had been steadily airdropped to its users in the form of care packages over several months as a reward for trading activity. The token allows holders to…

Unity has recently announced it added a new decentralization category to its asset marketplace – Unity Asset Store, where developers can buy Web3 assets and other resources to use in their projects for shipping games faster without having to create everything from scratch. The renowned game engine is one of the most popular players in the gaming industry. Its 2022 report, based on data gathered from 230,000 Unity developers – showed that the number of new creators was up 31%, and the number of games created on its platform was up 93% in 2022 compared to 2021. With this move, Unity will help game developers…