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The Virtual Asset Regulatory Authority (VARA), the regulator in charge of overseeing cryptocurrency laws within Dubai, has issued new guidelines for virtual asset service providers (VASPs) operating within the emirate. According to Irina Heaver, a crypto and blockchain lawyer based in the United Arab Emirates, VARA has issued its “Full Market Product Regulations,” which include four compulsory rulebooks and activity-specific rulebooks that lay down the rules for operating VASPs. The rules only apply to market participants within Dubai, excluding those operating under the Dubai International Financial Centre (DIFC), a free zone with its own regulator. ⚠️Dubai NewsDubai’s Vurtual Assets and Regulatory…

From beer breweries on opposite ends of the globe to aircraft technicians in isolated airports, telecoms infrastructure firm Nokia has been looking for ways to use the Metaverse to aid remotely-located workers.Nokia, who many remember as a manufacturer of consumer mobile devices, has since pivoted into developing technology and equipment that “delivers the internet.” Robert Joyce, CTO of Nokia Oceania told Cointelegraph that part of those plans also includes delivering the Metaverse.“Nokia set up two labs last year to really look at the Metaverse and the technologies that underpin the Metaverse.”Last year, Nokia began collaborating with an Australian university to…

NFT When Ordinals launched in January, it caused an uproar in the Bitcoin community as enthusiasts, advocates, and developers argued the merits of putting JPEG on the blockchain. While the heated debate continues, the number of Bitcoin inscriptions using Ordinals has already surpassed 11,000 on Tuesday, according to a Dune report. Ordinals are the latest project aiming to bring NFTs into the Bitcoin ecosystem. The first project, Counterparty, first introduced non-fungible tokens to Bitcoin with the Rare Pepes collection in 2014, with Stack following in 2017. However, the Ordinals project is different because the assets, including JPEGs and even video…

The CEO of crypto miner Layer1 Technologies has filed a lawsuit against the firm’s two other board members — including co-founder Jakov Dolic — for allegedly commandeering Layer1’s operations for their own gain. Layer1 CEO John Harney and DGF Investments Inc — a British Virgin Islands-based investment firm — filed the lawsuit against Dolic and fellow board member Tobias Ebel in Delaware’s Chancery Court on Feb. 2. The lawsuit alleges that both Dolic and Ebel used a power vacuum at Layer1’s equity parent Enigma to seize control of the Bitcoin mining company and operate it as their “own personal fiefdom.”Harney and…

NFT The NFT market showed sparks of life in January with a sharp uptick in trading volume and total NFTs sold, but it’s not just high-value Bored Ape Yacht Club sales driving the renewed buzz. Lately, it’s also open edition mints in which artwork is selling for tiny sums, yet fueling hype thanks to gamification techniques and FOMO over potential future rewards. At its core, an open edition NFT mint simply means a drop in which there’s no cap on how many of the identical artwork pieces can be purchased within the availability window. Open edition drops aren’t new—in fact,…

Being based in Ukraine has caused some trouble for the Dark Country team over the past year. But they still work onwards, recently revealing their plans in a roadmap for 2023. These plans include a mobile version, as well as new card expansions! Dark Country recently released their roadmap for 2023. The bulk of which revolves around a planned mobile release. Dark Country hopes to attract a larger playerbase by making their game more accessible. Mobile gaming continues to grow, and the web3 gaming developers don’t want to miss out on that market! Dark Country hopes to release both an…

A former product manager at cryptocurrency exchange Coinbase has moved to dismiss charges of alleged insider trading, with his lawyers arguing the tokens he allegedly traded were not securities.Lawyers representing ex-Coinbase employee, Ishan Wahi, and his brother, Nikhil Wahi, filed a motion on Feb. 6 in the United States District Court for the Western District of Washington to dismiss charges laid by the Securities and Exchange Commission.The SEC charged the brothers and their associate, Sameer Ramani, with insider trading last July, alleging the trio made $1.1 million using Ishan’s tips on the timing and names of tokens in upcoming Coinbase…

NFT Los Angeles-based sneaker designer and collector Sean Wotherspoon has released his first collection of digital wearables through his new virtual goods community MNTGE. The 3,100-piece collection draws inspiration from vintage pieces in Wotherspoon’s personal archive and will “blend inspiration from future and past worlds.” The project will be released to holders of the Day One non-fungible token (NFT) mint passes, which launched in December 2022. The collection has done 773 ETH (roughly $1.1 million) in sales to date and currently has a floor price of 0.45 ETH (about $735). Day One holders can mint digital trunks that contain two…

Blockchain According to a post on the Reddit community r/bitcoin, an old file was discovered that may be linked to Julian Assange, the whistleblower and founder of Wikileaks. The encrypted 7zip file is in the output script from a transaction that took place on Jan. 5, 2017, and was mined at block height 446,713. Speculation Surrounds Purpose of 7zip File Called ‘Julianassange.Txt’ Found in Bitcoin Blockchain Amid the thousands of inscriptions added to the Bitcoin blockchain via Ordinals, a 7zip file possibly linked to Wikileaks founder Julian Assange was recently discovered. A Reddit user under the name “u/sprxzk34620” informed the…

NFT The NFT market is gaining steam again in 2023, as rising sales and trading volume data showed in January. Now there have been two more prominent signs of a rebound over the past 24 hours, as single Ethereum NFTs from the popular CryptoPunks and Bored Ape Yacht Club projects each sold for more than $1 million worth of ETH. Both sales came from prominent collectors and creators in the NFT world, and they also mark the two largest single NFT sales tracked by CryptoSlam over the past 30 days. CryptoPunk #5066 was sold on Monday for 857 ETH, or…