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The Bank of Italy and the Bank of Korea have signed a Memorandum of Understanding (MOU) to facilitate the sharing of knowledge and information on topics related to information and communication technologies (ICT) supporting real-time settlement systems and central bank digital currencies (CBDCs). This collaborative effort builds on their previous partnership in June, where they worked with the Monetary Authority of Singapore and the International Monetary Fund on a paper focused on purpose-bound money (PBM), allowing money to be programmed for specific purposes. The collaboration aims to explore the implications and advancements in CBDCs and related technologies.

Coinbase Wallet has introduced a new feature allowing users to transfer cryptocurrencies through shareable links on popular messaging and social media platforms. Users can send money using links on platforms such as iMessage, Telegram, WhatsApp, Facebook, Instagram, and TikTok. Recipients need to download Coinbase Wallet to access the funds. To simplify the process for less tech-savvy users, Coinbase has introduced a "simple mode" in its wallet, focusing on basic functions like buying, sending, receiving, and viewing assets.

Itau Unibanco, Brazil's largest bank and a major financial institution in Latin America, has entered the cryptocurrency market by launching a trading service for its clients. The initial offerings include Bitcoin and Ether, with plans to expand to other cryptocurrencies in the future, according to Guto Antunes, the head of digital assets at Itau Unibanco. The expansion will be contingent on regulatory developments. This development follows the exit of two local players, XP and PicPay, from the crypto market in recent weeks.

The Financial Supervisory Commission (FSC) of Taiwan is exploring the possibility of allowing crypto exchange-traded funds (ETFs) in the country. However, the FSC is in the exploratory phase and plans to review global trends and developments before making any decisions. The commission acknowledges the existence of cryptocurrency futures commodities listed on various international stock exchanges and aims to gradually liberalize rules for digital asset trading, emphasizing the importance of self-discipline and regulation in the process.

The Capital Markets (Amendment) Bill in Kenya, which defines crypto assets as securities and imposes capital gains tax on them, has received approval from the National Assembly’s Finance and National Planning Committee. The bill is now set to be introduced to the National Assembly for further consideration. The proposed legislation aims to regulate cryptocurrency trading in the country, ensuring compliance with laws related to the prevention of proceeds of crime and terrorism financing.

The U.S. Securities and Exchange Commission (SEC) contends that the classification of tokens in its civil case against Terraform Labs should be determined as a "legal question" by the court and not as a "factual question for the jury." This position reflects the ongoing debate about which cryptocurrencies should be categorized as securities or commodities in the United States. The SEC has been actively involved in various lawsuits and enforcement actions against crypto platforms, including Binance and Coinbase.

IBM has announced its achievement of a significant milestone in quantum computing with a 1,121-qubit processor, representing the pinnacle of its previous quantum roadmap. Preceded by processors like the 433-qubit "Osprey" and 127-qubit "Eagle," the focus in the quantum computing industry is currently on error correction and fault tolerance. IBM foresees a quantum computing "inflection point" by 2029, where experiments with 100-qubit systems are considered the standard, with ongoing efforts to increase the number of quantum gates processors can utilize.

Developed in collaboration with the UN Climate Change Global Innovation Hub (GIH), Envision Blockchain, in partnership with the HBAR Foundation and Swirlds Labs, aims to use decentralized blockchain technology for the digital transformation of carbon markets by creation of an open-source Managed Guardian Service platform.. It includes features such as artificial intelligence and guided search for the UN Framework Convention on Climate Change’s Clean Development Mechanism (CDM) methodology library, contributing to the industry's evolution. Developed on the Hedera Hashgraph (HBAR) blockchain, the platform focuses on a digitized and digital measurement, reporting, and verification (dMRV) system for carbon markets.

As part of regulatory compliance, 28 Virtual Digital Assets (VDA) or crypto service providers have registered with India's Financial Intelligence Unit (FIU). The registration is in accordance with the mandate from India's Finance Ministry, which requires crypto businesses to register with the FIU and adhere to processes outlined in the Prevention of Money Laundering Act (PMLA). This legal obligation includes implementing verification procedures like Know Your Customer (KYC). Notably, major exchanges like CoinDCX, WazirX, and CoinSwitch are among the registered entities, and all 28 appear to be domestic rather than offshore companies.

Crypto.com has obtained authorization to operate as an electronic money institution in the United Kingdom. The approval from the Financial Conduct Authority (FCA) allows Crypto.com, registered as Forisgfs UK, to offer e-money products in the UK. The company has been actively seeking regulatory compliance globally, with recent licenses obtained in Singapore and recognition as a derivatives clearing organization by the U.S. Commodity Futures Trading Commission.

The Financial Sector Conduct Authority (FSCA), South Africa's principal financial regulator, has reviewed 128 applications from crypto service asset providers (CASPs) and plans to discuss 36 of them during its December 12 Licensing Executive Committee meeting. The FSCA will review an additional 22 applications on February 13, and the remaining 14 applications will be considered on March 12. The FSCA's "Crypto Assets Markets Study" for 2023, published on November 30, revealed that 60% of traded crypto in South Africa comprises "unbacked crypto assets," excluding stablecoins and NFTs.

A member of the United States Space Force, Jason Lowery, has written a letter to the U.S. Defense Innovation Board, urging a formal investigation into the use of proof-of-work networks, like Bitcoin, for protecting the country from cyber-inflicted warfare. Lowery emphasizes the broader strategic significance of Bitcoin, beyond its role as a monetary system, suggesting it can be employed to secure various forms of data, messages, or command signals. The Defense Innovation Board, established to bring technological innovation to the U.S. Military, is encouraged to explore the "national strategic importance" of proof-of-work systems like Bitcoin. Source: Cointelegraph