The Hong Kong regulator proposed relaxing the rules that ban retail investors from buying crypto tokens from licensed platforms, following debates among lawmakers who wanted to ease the prohibition. Hong Kong plans to lift ban on retail trading in crypto This is the latest SEC action against a crypto entity, highlighting the regulator’s continued scrutiny of the sector. The SEC is seeking civil money penalties, disgorgement, and a ban on Kwon from buying or selling crypto assets. Do Kwon is also alleged to have sold more than $100 million of his stash of 10,000 bitcoin since the collapse of TerraUSD. The chargesheet claims that the defendants secretly bailed out TerraUSD (UST) in mid-2021 to repeg the stablecoin with the dollar, resulting in billions more in investor capital being invested. The US Securities and Exchange Commission (SEC) has filed a lawsuit against Do Kwon and Terraform Labs alleging the sale of unregistered securities and violation of anti-fraud provisions under federal securities laws. German industry giant SIEMENS issues first digital bond on the blockchain Abu Dhabi has been supportive of the crypto industry, having introduced digital asset regulation in 2018. The program will be based in the Abu Dhabi Global Market financial district, with the First Abu Dhabi Bank’s research and development hub, FABRIC, as the anchor partner. The initiative aims to support startup growth in the Middle East and global markets by providing access to a range of programs and potential partners, as well as promoting business relocation to Abu Dhabi. Abu Dhabi launches $2 billion fund to accelerate growth in web3Ību Dhabi’s Hub71 tech ecosystem has launched the Hub71+ Digital Assets initiative to back Web3 and blockchain technology startups in the region with $2 billion. As BLUR plans more airdrops for its users in the future, it may continue to take market share from Opensea, the dominant NFT marketplace. BLUR’s rise in NFT trading volume, which surpassed that of Opensea on several occasions, may be attributed to the airdrop’s enticing rewards. The token’s price surged to over $5 at launch before declining to less than $1 as users sold their airdrops. The airdrop, which exceeded $400 million in value, is one of the most significant of 2023, and early users received a share of this amount. BLUR, a new NFT marketplace, recently launched its token with a significant airdrop for early adopters.
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