• The Philippines Securities and Exchange Commission (SEC) has proposed a new set of regulations to expand their purview to include virtual currencies and to increase their control over the country’s crypto space.
• The proposed regulations include financial goods and services, such as cryptocurrency and digital financial products, for public comment, as well as expanding what constitutes a security to include tokenized securities products and other financial instruments based on blockchain or distributed ledger technology (DLT).
• The SEC also has the authority to prevent service providers from levying excessive interest, fees, or other charges, and to disqualify and suspend directors, executives, or employees who breach the law.

The Philippines Securities and Exchange Commission (SEC) recently proposed a set of regulations to expand their purview over the country’s crypto space. The proposed regulations are meant to provide greater control and oversight of virtual currencies and digital financial products, as well as provide better protection and regulation for the financial markets.

The regulations, which are currently open for public comment, broaden the definition of “security” to include tokenized securities products and other financial instruments based on blockchain or distributed ledger technology (DLT). The SEC also has the authority to prevent service providers from levying excessive interest, fees, or other charges, and to disqualify and suspend directors, executives, or employees who breach the law.

The proposed regulations also include the SEC’s authority to establish its own regulations pertaining to financial goods and services. This includes the ability to monitor markets and increase enforcement powers. Additionally, the SEC will be able to set up its own rules for digital financial products and services, as well as the companies that deliver them.

The move is part of the SEC’s efforts to provide better protection and regulation for the financial markets in the Philippines. SEC Chairman Jay Clayton stated that the agency’s “rule-making, surveillance, inspection, market monitoring, and more enforcement powers” would be enhanced by the legislation. The SEC is confident that these new regulations will help protect consumers and ensure that investments in these products are done responsibly.

The SEC has also been working on other initiatives to increase its control over the crypto sector in the Philippines. In November of 2020, they issued a draft circular that seeks to regulate cryptocurrency exchanges and ICOs. The circular also requires that exchanges register with the SEC and comply with certain operational standards.

The Philippines is one of the leading countries in Asia when it comes to regulating the cryptocurrency industry. The country is taking a proactive approach to the regulation of this emerging sector, which is a welcome move for both the industry and investors. The proposed regulations from the SEC are a step in the right direction and could help to increase investor confidence in the crypto sector.

• Snowfall Protocol (SNW) is set to launch as the first cross-chain transfer ecosystem designed to enable seamless transfers of fungible and non-fungible tokens (NFTs) across different blockchains.
• BNB (BNB) and Kava (KAVA) won’t be able to compete against the upcoming Snowfall Protocol (SNW), which is set to launch on February 3rd.
• SNW is already seeing massive growth in its price and currently sits at $0.191 just before the final stage of the project ends in less than 30 days.

As blockchain technology continues to evolve, the challenge of interoperability between blockchains and their respective tokens is becoming increasingly critical. This is why the upcoming Snowfall Protocol (SNW) is set to revolutionize the space with its innovative cross-chain transfer ecosystem, designed to enable seamless transfers of both fungible and non-fungible tokens (NFTs) across different blockchains.

The launch of Snowfall Protocol (SNW) is set for February 3rd, and it is already proving to be a major challenge for BNB (BNB) and Kava (KAVA). This is because SNW is the first of its kind, and offers a 1000x ROI increase, something which BNB (BNB) and Kava (KAVA) are struggling to keep up with. In fact, the SNW token has already seen a massive growth in its price, currently sitting at $0.191 just before the final stage of the project ends in less than 30 days.

Snowfall Protocol (SNW) is the blockchain space’s answer to Rome, connecting different blockchains with a secure, transparent, and decentralized ecosystem. It is designed to allow users to easily transfer their tokens across different blockchains. BNB (BNB) and Kava (KAVA) do offer some interoperability options, but they cannot keep up with the sheer power that Snowfall Protocol (SNW) is set to bring to the space.

BNB (BNB) is the central token for the Binance exchange, and BNB holders can use BNB as a form of payment for trading fees, withdrawal fees, listing fees, and other associated Binance platforms. However, this is not nearly as revolutionary as the features offered by Snowfall Protocol (SNW). Kava (KAVA) also offers a decentralized platform for cross-chain asset exchange, but it is limited in scope and does not offer the same level of interoperability as SNW.

Ultimately, Snowfall Protocol (SNW) is set to revolutionize the blockchain space, and it is already proving to be a major challenge for BNB (BNB) and Kava (KAVA). SNW is the first of its kind, and offers a 1000x ROI increase, something which BNB (BNB) and Kava (KAVA) are struggling to keep up with. With a secure, transparent, and decentralized ecosystem that allows users to transfer their tokens across different blockchains, Snowfall Protocol (SNW) is set to revolutionize the space.

• Silvergate Crypto Bank reported a net loss of $1 billion in Q4 2022.
• The bank attributed the loss to a significant outflow of deposits and the ongoing crypto crisis.
• Silvergate CEO Alan Lane stated that the firm’s mission „has not changed“.

Silvergate Crypto Bank recently reported a net loss of $1 billion in Q4 2022, a significant loss attributed to a significant outflow of deposits and the ongoing crypto crisis. The bank has initiated action to maintain the cash liquidity including the selling of debt securities and wholesale funding.

The US Securities and Exchange Commission (SEC) published a report highlighting the net loss to common shareholders during the Q4 of 2022. According to the report, the digital asset bank witnessed a significant outflow of deposits and initiated action to maintain the cash liquidity including the selling of debt securities and wholesale funding. Silvergate Bank noted that the current “transformational shift” in the crypto industry has led to a crisis of confidence across the ecosystem.

Despite the massive losses, Silvergate CEO Alan Lane stated that the firm’s mission “has not changed”. He further added that the firm is confident that the current market conditions are temporary and that they are “well positioned to benefit from the long-term growth of the digital asset industry”. Lane also noted that the bank is focused on continuing to provide the highest level of service and liquidity to its customers.

Silvergate Crypto Bank has faced significant headwinds in the past few months due to the collapse of the crypto exchange FTX. Despite the losses, the bank has taken measures to ensure the cash liquidity and confident that they will be able to benefit from the long-term growth of the digital asset industry. Silvergate CEO Alan Lane stated that the firm’s mission has not changed and they are focused on providing the highest level of service and liquidity to its customers.

• South Korean tax authorities are investigating local crypto exchange operator Bithumb Holdings.
• The National Tax Service is reportedly investigating possible tax evasion via domestic and international transactions of Bithumb Korea, Bithumb Holdings, and affiliates in Gangnam-gu, Seoul.
• This is not the first time Bithumb has been at the center of such an investigation, as the National Tax Service also conducted a special tax investigation on Bithumb Korea and collected 80 billion won in income tax in 2018.

The South Korean tax authorities are currently conducting an investigation into the activities of the local crypto exchange operator Bithumb Holdings. According to a Tuesday report by Yonhap News, the National Tax Service (NTS) is currently looking into any possible tax evasion on domestic and international transactions of Bithumb Korea, Bithumb Holdings, and its affiliates in Gangnam-gu, Seoul.

An official from the company confirmed the news to CoinDesk Korea, but declined to provide any further details. The report states that the investigation is being conducted by a unit dedicated to “special tax investigations.” This is not the first time that Bithumb has been the focus of such an inquiry, as the NTS had previously conducted a special tax investigation on Bithumb Korea and had collected 80 billion won in income tax in 2018.

The investigation is believed to be an effort by the NTS to ensure that all companies within its jurisdiction are paying their applicable taxes. Furthermore, it is also an effort to ensure that all companies are abiding by the laws and regulations that have been set forth. It is unclear at this time what the outcome of the investigation will be, or how long it will take for the authorities to reach a conclusion.

It is worth noting that the South Korean authorities have been increasing their efforts to combat any potential tax evasion within the country. In recent years, the government has implemented several measures to make sure that all companies are paying their taxes in accordance with the rules and regulations.

Despite the ongoing investigation, Bithumb is still operating as normal and has not yet been affected by the inquiry. It remains to be seen how the investigation will turn out and what the ultimate outcome will be. For now, the crypto exchange operator is continuing to operate as usual and provide its users with services as usual.

• Oorbit, a 3D cloud-based technology platform, has partnered with LG Electronics to bring immersive gaming to smart TVs
• Through the partnership, LG and Oorbit users can access virtual concerts on Elynxir from Pixelynx and AI generative multiplayer games in Auxworld from Auxuman
• Pooya Koosha, CTO and Oorbit cofounder, noted that the company has been developing hardware and software for the last decade to meet immersive gaming needs

Oorbit, a 3D cloud-based technology platform, has recently announced a strategic partnership with LG Electronics to offer immersive gaming experiences to millions of smart TV users around the world. This landmark collaboration marks a major milestone in the development of the metaverse, with Oorbit providing the connective tissue to link virtual worlds together and make it easier for developers and brands to bring their experiences to life.

The partnership between Oorbit and LG Electronics will make virtual concerts on Elynxir from Pixelynx and AI generative multiplayer games in Auxworld from Auxuman accessible to LG and Oorbit users. This will allow them to experience a variety of interactive and immersive gaming experiences, as well as access an ever-evolving virtual world.

Pooya Koosha, CTO and Oorbit cofounder, commented on the partnership, noting that the company has been developing hardware and software for the last decade to meet immersive gaming needs. „Our proprietary technology is the connective tissue that links virtual worlds together and makes it easy for developers and brands to bring their experiences into the metaverse. Scaling our technology for millions of LG TV customers is the next step in making the metaverse accessible for all,“ Koosha added.

Jung Sung-hyun, head of the content service division at LG Electronics Home Entertainment Company, also expressed enthusiasm for the partnership. “We’re incredibly excited to partner with Oorbit to bring immersive gaming experiences to our customers,” he said. “The combination of our technology with Oorbit’s platform will enable us to provide a new level of interactivity and engagement for our users.”

The partnership between LG Electronics and Oorbit is indicative of the growing demand for immersive gaming experiences and the ever-evolving metaverse. With the latest technology powering the platform, LG and Oorbit users will have access to a plethora of interactive and immersive gaming experiences that they can enjoy in the comfort of their homes.

• Cryptocurrencies such as Big Eyes Coin (BIG), Dogecoin (DOGE), Aave (AAVE), Litecoin (LTC), and Cardano (ADA) were created to make money simpler and more accessible.
• Cardano (ADA) is the native token of the Cardano blockchain, which utilizes the Ouroboros proof-of-stake design and is open source.
• Big Eyes Coin (BIG) has developed a framework that allows the DeFi ecosystem to grow while remaining sustainable.

Cryptocurrencies have been the savior of consumers looking for an alternative to traditional sources of finance since they were first introduced. Traditional financial systems involve the use of fiat money as a means of exchange, and are overseen by the government with physical locations. Cryptocurrencies, on the other hand, have none of these qualities as they are not conventional financial instruments. To make money easier and more accessible to individuals from all walks of life, cryptocurrencies like Big Eyes Coin (BIG), Dogecoin (DOGE), Aave (AAVE), Litecoin (LTC), and Cardano (ADA) were created.

Big Eyes Coin (BIG) is a relatively newer cryptocurrency, but it has already proven its commitment to providing usefulness to its token by developing a framework that allows the DeFi ecosystem to grow whilst remaining sustainable. This includes placing advertisements on Marketplace, an open source platform, and also creating an integrated wallet which can be used for exchanging and storing BIG tokens.

Cardano (ADA) is the native token of the Cardano blockchain, which utilizes the Ouroboros proof-of-stake design and is open source. This is a peer-reviewed technology, which gives it respectability and a technological edge over competitors, making it very attractive in the lead-up to the alt-coin season for cryptocurrencies. The price of Cardano (ADA) is currently $0.32 (ADA / USD). Cardano is currently trading at $3.10, which represents 89.79% of its all-time high.

Dogecoin (DOGE) is an open source cryptocurrency that was created as a joke in 2013. However, it has since grown to become a serious contender in the cryptocurrency market, and has been used for a variety of applications. Dogecoin is a decentralized, peer-to-peer digital currency which enables users to send money quickly and securely. The price of Dogecoin (DOGE) is currently $0.0091 (DOGE / USD). Dogecoin is currently trading at $0.06, which represents 5.85% of its all-time high.

Aave (AAVE) is a decentralized, open source lending platform which enables users to lend and borrow various crypto assets. It is based on Ethereum and utilizes a liquidity pool model, meaning users can deposit their crypto assets and earn interest on them. The price of Aave (AAVE) is currently $355.46 (AAVE / USD). Aave is currently trading at $444.16, which represents 75.14% of its all-time high.

Litecoin (LTC) is a decentralized, open source payment network which allows users to transfer money quickly and securely. Litecoin is based on the Bitcoin protocol, and is one of the most popular cryptocurrencies in the world. The price of Litecoin (LTC) is currently $192.08 (LTC / USD). Litecoin is currently trading at $200.32, which represents 97.37% of its all-time high.

Cryptocurrencies have been a great way for users to store and transfer money securely and anonymously. By using these cryptocurrencies, users can have access to a more secure and anonymous source of finance, while also having the ability to make transactions quickly and easily. Big Eyes Coin (BIG), Dogecoin (DOGE), Aave (AAVE), Litecoin (LTC), and Cardano (ADA) are all great options for users to diversify their portfolio in the lead up to the Christmas season. Each of these cryptos offers its own unique advantages, and have the potential to increase in value as the market continues to grow.