Global Crypto News by Killerwhale
Welcome to the Global Crypto News hub! Articles by Killerwhale go over the news you may have missed that involves crypto, but had a real world effect. Sit back, relax, and enjoy! News is gathered throughout the week and posted every Saturday!
Hong Kong is considering a legal framework for its stablecoin by mid-May
By the middle of 2024, Hong Kong wants to implement stablecoin regulations in anticipation of the possibility of developing a local stablecoin pegged to the Hong Kong dollar. A suitable regulatory framework has to be established for this project.
The development of a Hong Kong dollar-pegged stablecoin could have several benefits. It could provide a more stable and efficient way to pay for goods and services in Hong Kong. It could also make it easier for Hong Kong businesses to participate in the global cryptocurrency economy.
However, it is important to choose stablecoins that are issued by reputable companies and that have strong backing mechanisms in place and that’s the reason why Hong Kong lawmakers want to put a legal framework on it.
Duncan Chiu, a lawmaker representing Hong Kong, recently disclosed that the Chinese autonomous territory is now involved in the second round of talks to establish rules for the issuing of stablecoins. Chiu anticipates that by the middle of 2024, the regulatory framework's general outline, which applies to stablecoin issuers, would be completed.
Ecosystem, this legislative action is opportune. In contrast to mainland China, which has a restrictive position on cryptocurrencies, Hong Kong exhibits a positive attitude toward blockchain technology, drawing an increasing number of cryptocurrencies businesses to its jurisdiction.
A licensing system for cryptocurrencies was formally introduced in Hong Kong in June, enabling authorized exchange companies to offer personal cryptocurrency trading services. Additionally, a group of professionals from the cryptocurrency sector encouraged the Hong Kong government to investigate the potential of a stablecoin based on the Hong Kong dollar in August of last year.
However, Hong Kong is still committed to purging criminals from its cryptocurrency ecosystem. On September 19, the city's police department reported the detention of eight people who were allegedly planning to conduct fraud in connection with the cryptocurrency exchange platform JPEX. This came after the authorities received more than 1,600 complaints alleging that it was difficult for consumers to withdraw cash totaling around US$1.19 billion from this site.
In conclusion, Hong Kong continues to encourage cryptocurrencies while simultaneously attempting to lower consumer risks and improve control of its cryptocurrency ecosystem, and it may even explore introducing its own stablecoin that is pegged to the Hong Kong dollar. We anticipate changes involving this HKDG stablecoin in the coming year.
Source: theblock.co
Uniswap Foundation launches its own University
In the ever-evolving and dynamic landscape of the crypto ecosystem, educational content emerges as a guiding beacon, illuminating the path to comprehension, responsible engagement, and innovation. As the crypto space undergoes continuous transformation, the profound value of educational initiatives cannot be overstated. In this context, Uniswap, the foremost decentralized finance (DeFi) decentralized exchange (DEX) with $3.2 billion securely deposited in its protocol pools across eight blockchains, stands as a stalwart ally, dedicated to empowering its users.
We all know that platforms like Uniswap can be complex to understand in detail, especially for crypto newcomers. Even more so since the rollout of version 3 and the arrival of concentrated liquidity. A new layer of complexity will be added in the coming months with the roll-out of v4.
In view of this reputation, Uniswap decided to set up educational content. The Foundation announced this week the launch of "Uniswap University" in partnership with DoDAO, a project presenting itself as "the ultimate customer training platform". The purpose is to enable all users, novices and advanced alike, to understand the subtleties of the platform.
As the Foundation said; "We're delighted to unveil Uniswap University, a comprehensive training platform suitable for everyone from beginners to seasoned Uniswap v3 liquidity providers."
This type of educational content has the potential to democratize access to financial services for unbanked and underbanked populations worldwide. Educational initiatives bridge knowledge gaps, enabling people in underserved regions to harness digital financial tools for economic development.
Upon its unveiling, Uniswap presented the four primary segments comprising the platform's educational content:
Outlines: These segments delve into both basic and advanced concepts, making them accessible to all. Topics covered include fundamental questions like "What is a DEX?" and more advanced subjects such as "Strategy backtesting tools."
Brief Explanations: Designed for quick reference or introductory purposes, these concise explanations convey key ideas in 30 seconds or less, ensuring users can quickly get up to speed.
Multiple Simulations: Uniswap University offers users the opportunity to engage with cutting-edge position management tools and practice various scenarios, including adding or reducing liquidity. This hands-on approach enables individuals to gain practical experience and confidence in their decision-making
Comprehensive Courses: Uniswap's educational initiative combines fundamental courses like "Getting started with Uniswap" with more advanced offerings like the "Liquidity provider course." This approach equips students with a well-rounded understanding of a broad range of subjects, helping them become proficient in DeFi and Uniswap's intricacies.
Uniswap University is a welcome development in the crypto space, especially given the complexity of decentralized exchanges and the prevalence of scams. It is a valuable resource that can help users to learn about crypto safely and responsibly.
By endowing individuals with the knowledge and skills necessary to competently build and utilize crypto products and services, Uniswap University contributes to the creation of a more vibrant and diverse crypto ecosystem. In a space teeming with complexities and evolving challenges, educational content is not just a beacon of guidance but a catalyst for transformation and community building, laying the foundation for a more inclusive and enlightened crypto future.
Source: Uniswap Foundation
