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Crypto Industry Experiences Regulatory Crackdowns and Hack Attempts, While Platforms Make Progress with New Licenses and Partnerships

June 18 (Cointime) - This week in the crypto industry, regulatory agencies are cracking down on top exchanges while hackers are targeting them. The Lazarus Group of North Korea has allegedly stolen over $100 million in crypto, adding to their list of cyber-attacks. Meanwhile, Polygon has partnered with Flipkart and Hang to launch an exclusive loyalty project focused on integrating Web3 and NFT technologies.

Binance has announced its departure from the Netherlands due to its failure to obtain a VASP license and a lawsuit by the US SEC claiming the company has offered unregistered securities. Project Rosalind, a mutual initiative by the Bank of England and the Bank for International Settlements Innovation Hub Long Center, has developed a prototype API layer to facilitate retail CBDC systems. Additionally, a project has identified 30 use cases for retail CBDCs using a universal API layer. Binance and the US SEC have reached a provisional contract, allowing only Binance.US to reach the SEC.

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