Wahid Pessarlay
Wahid Pessarlay
Wahid loves to write, especially about Digital Currency and Blockchain. He started his blogging journey in 2017 and turned to digital currency in 2019. Wahid is interested in tech, chess and DeFi. He aims to promote decentralization to everyone on the planet.Source
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Snapchat parent company sacks Web 3.0 team amid restructuring

Snapchat parent company sacks Web 3.0 team amid restructuring

Snap Inc. (NASDAQ: ), the parent company of multimedia instant messaging app Snapchat, has abandoned efforts focused on building products for , the much-hyped next iteration of the internet.The plan was first disclosed by Jake Sheinman, a research and development manager for the Web 3.0 team, via a tweet. He stated that he had been let go by Snap after nearly four years in the firm and about a year with the Web 3.0 team.After ~4 years at , today is my last day. As a result of the company restructure, decisions were made to sunset our web3 team. The same team that I co-founded last year...

Sep 6
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Abra seeks to become first digital asset banking institution in the United States

Abra seeks to become first digital asset banking institution in the United States

Abra, a firm providing digital asset services to users, has  an intent to transform into a fully regulated financial institution in the United States sometime in 2023. The move was announced earlier this week at SALT New York 2023 and will be a state-chartered institution serving U.S.-based clients.Abra, in a statement, said that upon launch, the company will hold the record as “the first regulated bank” in the region that will allow customers “to deposit and bank with digital assets, and access global fiat on and off ramps.” The firm’s  extend to its international clientele...

Sep 15
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Russia eyes digital assets for settling cross-border transactions as sanctions bite harder

Russia eyes digital assets for settling cross-border transactions as sanctions bite harder

Russia is looking to become the first country to deploy digital currencies for cross-border payments within a legal framework. The intention to turn to virtual assets as a settlement for international transactions comes from Prime Minister Mikhail Mishustin’s  at a strategic session with regulators at the end of August.In his speech, Mishustin stated that Russia’s financial system requires a total overhaul given the present circumstances the economy faces. Russia has been embroiled in a war with Ukraine since February and slammed with , stifling its ability to process...

Sep 16
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Uruguay mulls bill giving central bank control over digital asset service providers

Uruguay mulls bill giving central bank control over digital asset service providers

A  has been sent to Uruguay’s legislature seeking a complete overhaul of firms’ activities in the virtual assets industry. Local publication El Observador wrote that the main object of the proposed legislation is to confer legal powers on the Central Bank of Uruguay (BCU) to exercise control over such companies.The bill defines virtual asset service providers as “entities that regularly and professionally provide one or more virtual asset services to third parties.” While these services may be vague and ambiguous, the filed regulation attempts to narrow them down to digital...

Sep 16
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Indian state uses blockchain to improve registration of new properties

Indian state uses blockchain to improve registration of new properties

Maharashtra, India’s second-most populous state, is  distributed ledgers to revamp documentation of land property in the region. The government’s decision to use  was borne out of the desire to improve trust amongst industry participants and reduce incidents of fraud.Shravan Hardikar, Maharashtra’s inspector General of the Department of Registration and Stamps, noted in a press conference that things are already in motion for the registry to adopt  (DLT) with leading financial institutions already on board.“Blockchain pilot has already been started with banks...

Sep 14
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Israel financial regulator grants first 'crypto' license to local firm

Israel financial regulator grants first 'crypto' license to local firm

Granath v Wright entered its second week on Monday, with the last of the expert witnesses taking the stand and plaintiff Magnus “Hodlonaut” Granath’s counsel beginning their closing arguments.Zetly plans to develop a full Metaverse for fans to interact with objects in the physical world, like buying merchandise, which can be used to scan a playing arena, access NFTs, or play P2E games.In this post, Data Finnovation provides convincing evidence from novel on-chain analysis showing how a real digital currency use case works.The chamber has requested to file an amicus brief in the Ripple case,...

Sep 14
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US: One-half of couple accused of money laundering seeks court's permission to access digital asset wallets

US: One-half of couple accused of money laundering seeks court's permission to access digital asset wallets

After months of standing trial on money laundering charges with her husband, Heather Morgan has asked the court to grant her  to her digital wallets containing virtual assets. Morgan said the purpose of her request is to , including that of her spouse.The couple is  over charges of laundering nearly $5 billion in stolen BTC from Bitfinex. Morgan’s lawyer, Eugene Gorokhov, made the filing on September 12 for the courts to shed light on the peculiar request from Morgan.“To determine her tax liability, Ms. Morgan must access specific cryptocurrency wallets in order to...

Sep 14
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Florida's government raises public awareness on consumer fraud in digital space

Florida's government raises public awareness on consumer fraud in digital space

The Florida Department of Agriculture and Consumer Services (FDACS) has  residents in the Sunshine State over the increasing number of scams. The agency made this known in its newsletter, identifying six different scams that are fleecing millions of dollars off unsuspecting consumers.The fraudulent activities include auto warranty, health insurance, utilities, post-disaster preparation, and the infamous RV giveaway scam. The newsletter notes that a vital feature of the scams is using gift cards or digital assets to receive payments.“Payment Type: If you are asked to pay with a...

Sep 14
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Japan utilizes NFTs to reward local authorities for exemplary service

Japan utilizes NFTs to reward local authorities for exemplary service

Seven Japanese mayors were given awards for their stellar achievements since assuming office. The awards took the form of  (NFTs) and were issued primarily to government officials for their role in promoting the digital economies of their cities.The NFTs were Ethereum-based Proof of Attendance Protocol (POAP) NFTs issued from Hazama base, a platform that has found prior usage amongst Japanese political parties, according to a Coinpost . The NFTs cannot be resold on the secondary market, making them of a non-transferrable kind.The Cabinet Secretariat issued the awards at the...

Sep 15
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