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Crypto Evening Briefing: White House to Build International Standards for DLT

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White House to Build International Standards for DLT

The United States White House has released a national standards strategy for key and emerging technologies, which includes distributed ledger technology (DLT) and digital identity infrastructure. The national strategy aims to increase US leadership in the development of international standards for emerging technologies and build synergies with the private sector to promote and build international standards. 

New York Attorney General Seeks Broader Authority to Police Crypto

New York Attorney General Letitia James is proposing the Crypto Regulation, Protection, Transparency and Oversight Act (CRPTO) to give her office broader enforcement authority over cryptocurrency firms that have operations in the state. The bill would codify the New York State Department of Financial Services' authority to license participants in the sector and oversee the state's digital asset licensing regime. 

Ethereum's Median Gas Fee Surges to 12-Month High as PEPE Frenzy Grips Market

The launch of meme coin Pepecoin (PEPE) has contributed to a surge in demand for the Ethereum network, driving up transaction costs. The daily median gas price hit a 12-month high of 87 gwei, increasing more than 50% since the launch of PEPE on April 18. 

UK’s FCA Continues Crackdown on Unregistered Crypto ATMs

The UK's Financial Conduct Authority (FCA) has inspected crypto ATM sites in Exeter, Nottingham, and Sheffield alongside regional police, as part of its crackdown on unlawful crypto ATMs. The FCA regards these devices as a money laundering threat, and none are logged with the FCA as required by law. 

South Korea Tightens Crypto Rules as Hong Kong Seeks Protections

The South Korean government is partnering with law firm Yulchon to tighten oversight of the country's crypto sector, which has heavy exposure to the digital asset class, and the cryptocurrency bill is expected to become law this year. Meanwhile, Hong Kong's vision of becoming a crypto hub is threatened by the increasing number of crypto-related scams, and lawyers are working with regulators to balance investor protection and innovation.

Banking Giant BNP Paribas to Launch China CBDC Wallet Platform

BNP Paribas China has announced it will launch a digital yuan wallet management platform in partnership with the state-owned commercial bank, Bank of China. The platform will enable BNP Paribas China to provide its corporate clients with e-CNY services, including wallet opening and management services, token conversion, and spending options. 

Market Watch 

As of press time, according to Cointime data:

BTC 's live price is $29,029.52 USD, dropped by 0.16% in the last 24 hours;

ETH’s live price is $1,911.29 USD, jumped by 0.59% in the last 24 hours;

BNB’s live price is $324.89 USD, dropped by 0.42% in the last 24 hours;

XRP's live price is $0.4595 USD, dropped by 0.25% in the last 24 hours.

Fundraising News

Adaverse Announces 2023 Vision to Support Cardano Ecosystem Startups in Africa and Southeast Asia

Adaverse, a leading investment company focusing on blockchain and cryptocurrency projects, has announced its vision for 2023 to help excellent startups in Africa, Southeast Asia, and other regions share the development dividends of the continuously prosperous Cardano ecosystem. Adaverse's structure as a joint venture between EMURGO and Everest Ventures Group (EVG) has allowed it to expand beyond Cardano and synthesise Asian expertise with the innovative development of Web3 in Africa. Adaverse seeks to invest in startups between Seed and Series A with an MVP and ideally, revenue, with ticket sizes typically ranging between $100k and $300k.

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