Weekly Report (04 – 10 Dec 23) | What Happened This Week In Crypto

This report will provide some essential and quick news about the cryptocurrencies happening worldwide.

1) El Salvador’s Efforts To Promote Bitcoin Adoption Fail

El Salvador’s 2021 adoption of Bitcoin as legal money was a watershed moment in the country’s transition to a decentralized monetary system. Though the government has launched promotional efforts and initiatives, the percentage of cryptocurrency acceptance in the nation is shockingly low…[continue reading]

2) Cybersecurity Researcher Identifies Suspicious Activity Linked To Kyber Network Theft

The blockchain security company Cyvers has found a significant security flaw in the Kyber Network, a well-known platform for bitcoin exchanges. This finding follows a slew of high-profile security breaches that hit other cryptocurrency exchanges in November, including KyberSwap…[continue reading]

3) Taiwan Central Bank Finalizes Wholesale CBDC Feasibility Study

The Central Bank of Taiwan (CBDC) has finished its feasibility assessment and is now considering implementing it on a wholesale scale. As the country investigates more extensive payment modernization programs, Deputy Governor Mei-lie Chu stresses the need for a cautious approach and solicits opinions from companies and universities…[continue reading]

4) Binance Pulls Applicant’s License Application From The UAE

The cryptocurrency exchange Binance, which gained attention for its deal with the United States, withdrew its application for a license in another nation. New information suggests that Binance, the biggest cryptocurrency exchange in the world, has decided not to pursue a license in Abu Dhabi…[continue reading]

5) The First Major Bank To Launch An Ethereum Stablecoin Is Societe Generale

The 159-year-old French banking corporation Societe Generale has a new venture, EUR CoinVertible (EURCV), a stablecoin generated on the Ethereum blockchain that is tethered to the Euro. This news was announced in a recent article by the crypto exchange Bitstamp…[continue reading]

6) European Union Officials Reach Historic Deal On AI Regulations

A major step forward in the worldwide landscape of artificial intelligence (AI) is the impending agreement of the European Union on comprehensive laws to control AI. This breakthrough is the result of months of complex discussions, most notably regarding the regulation of generative AI systems such as ChatGPT…[conintue reading]

7) Kenyan Parliament Approves Crypto Tax Regulation Bill

By introducing a law to regulate and tax cryptocurrencies, Kenya is about to alter its legal environment. After receiving approval from the Finance Committee, the Capital Markets (Amendment) Bill, 2023, will now be brought before the National Assembly for debate…[continue reading]