LensLinks: Issue 64

A blockchain news roundup, brought to you by Regiment LLC

Author

Len Pacek
January 04, 2023

Today in LensLinks:

  • RETRO: The First Metaverse in History: A Timeline of Metaverse Development

  • Binance CZ: To be charged with Money Laundering?

  • No more crypto for Congress?

  • Bahamian regulator holding $3.5B of FTX customer assets?

  • New Crypto Tax Breaks for Foreigners (UK)

  • Meta ramping AR R&D?

  • $3B Trading that lives with his Mom?

  • Ethereum transactions 338% higher in 2022 but Bitcoin remains most popular

  • Blockchain holds the key to solving "ESG Crisis of Trust"?

  • And Scroll for Much, Much, More...

QUOTABLE...

“This exemption is an important factor in attracting global investors, meaning foreign investors won’t be brought into U.K. tax simply by appointing U.K.-based investment managers. To build upon the U.K.’s position as an investment management hub, this exemption has been extended to include crypto assets, so that funds which include them aren’t put off from appointing U.K. managers.”

- the British government's tax arm, the HM Revenue and Customs

NOTABLE...

Breaking: Binance, CZ Could Be Charged For Violating Money Laundering Sanctions

U.S. Department of Justice prosecutors are divided whether they should move ahead with filing criminal charges against Binance and its executives, Reuters reported.

https://coingape.com/web-stories/breaking-binance-cz-could-be-charged-for-violating-money-laundering-sanctions/

United States lawmakers expected to prohibit stock and crypto trading in upcoming Congress session | The Financial Express

According to Cointelegraph, next session of US Congress begins where Republicans will have control on account of a slight majority after the 2022 Midterms, while Democrats will have a majority in the Senate

https://www.financialexpress.com/blockchain/united-states-lawmakers-expected-to-prohibit-stock-and-crypto-trading-in-upcoming-congress-session/2935107/

 Metaverse & Gaming

As metaverse hype subsides, in-game advertising companies are focusing on their gaming roots

Hollywood films such as “Ready Player One” have sketched out a vision for a fully immersive and interoperable virtual world, and as the metaverse picked up steam in early 2022, in-game advertisers did not necessarily go to great lengths to clear up their association with this tantalizing concept.

https://digiday.com/marketing/as-metaverse-hype-subsides-in-game-advertising-companies-are-focusing-on-their-gaming-roots/

Over the past year, in-game advertising companies have hitched their cart to the metaverse. But as the cold of crypto winter seeps in, brands are becoming increasingly skeptical about the concept — and in-game advertising companies are starting to back away from it accordingly.

 Blockchain, Tokens & DeFi

Bahamian regulator holding $3.5 billion of FTX customer assets

The Bahamas' Securities Commission took custody of customer assets following a security breach that drained millions from FTX after the crypto exchange filed for bankruptcy.

https://www-theblock-co.cdn.ampproject.org/c/s/www.theblock.co/amp/post/198434/bahamian-regulator-holding-3-5-billion-of-ftx-customer-assets

The decision to take custody of the funds, specifically from the crypto exchange’s FTX Digital Markets Ltd, followed security concerns. Hours after the collapsed crypto exchange filed for bankruptcy protection, between $370 million and $400 million in crypto assets were stolen from the exchange's wallets. The hack is currently under investigation by the U.S. Department of Justice.

Crypto Trading

UK Enforces Crypto Tax Break for Foreigners Using Local Brokers

The measures now in effect are part of the government's plans to turn the country into a crypto hub.

https://www.coindesk.com/policy/2023/01/01/uk-enforces-crypto-tax-break-for-foreigners-using-local-brokers/

The U.K. is enforcing a tax exemption for foreign investors purchasing crypto through local investment managers or brokers starting Sunday.

The tax break, announced in December, is a part of Prime Minister Rishi Sunak’s plans to turn the U.K. into a crypto hub.

Metaverse & Gaming - A Little More...

Intel shows off 24-core 13th Gen mobile processors at CES 2023

Intel announced 32 models of its 13th Gen Intel Core mobile processors at CES 2023 today, including its first 24-core processor for a laptop.

https://venturebeat.com/data-infrastructure/intel-shows-off-24-core-13th-gen-mobile-processors-at-ces-2023/

Big Tech’s Bleak 2022 Creates Buying Opportunity

New VIP+ Analysis: While there may be more pain ahead in the near term for tech investors, those with patience could be richly rewarded.

https://variety.com/vip/big-techs-bleak-2022-creates-buying-opportunity-1235476529/

Facebook owner Meta ramps up AR technology R&D efforts with acquisition of 3D printing firm Luxexcel - 3D Printing Industry

Facebook parent firm Meta has acquired augmented reality prescription lens 3D printing specialist Luxexcel.

https://3dprintingindustry.com/news/3d-printer-219281/

Blockchain, Tokens & Defi - A Little More...

Companies and investors may need to return billions in funds paid by FTX

Billions of dollars paid in the months leading up to FTX’s bankruptcy may be returned to pay the crypto exchange’s creditors, according to an insolvency attorney.

https://cointelegraph.com/news/companies-and-investors-may-need-to-return-billions-in-funds-paid-by-ftx/amp

Basel Committee Endorses Global Crypto Banking Rules to Be Implemented by 2025

The rules suggested that a bank's exposure to certain crypto assets must not exceed 2% and should generally be lower than 1%.

https://www-coindesk-com.cdn.ampproject.org/c/s/www.coindesk.com/policy/2022/12/16/basel-committee-endorses-global-crypto-banking-rules-to-be-implemented-by-2025/?outputType=amp

Crypto Trading - A Little More...

Anthony Day on LinkedIn: #blockchain #technology #management #innovation #sustainability | 329 comments

🚨Most of LinkedIn still can’t make this distinction. Let’s start 2023 right and be clear on Web3, Crypto and Blockchain… 2023 didn’t start well… Today I… | 329 comments on LinkedIn

https://www.linkedin.com/feed/update/urn:li:activity:7015663655371354112/?utm_source=share&utm_medium=member_ios

Public filings reveal a $3B crypto trader who still lives with his mom

As per regulatory filings, the trader’s business increased its profit by 1,404.12% in 2021, compared to the year before.

https://cointelegraph.com/news/public-filings-reveal-a-3b-crypto-trader-who-still-lives-with-his-mom

Ethereum transactions 338% higher in 2022 but Bitcoin remains most popular

While Ethereum transactions and activity far outpaced Bitcoin in 2022, BTC kept its top spot as the most searched cryptocurrency on Google, globally.

https://cointelegraph.com/news/ethereum-transactions-338-higher-in-2022-but-bitcoin-remains-most-popular

Industry Retro (How far we have come)

The First Metaverse in History: A Timeline of Metaverse Development

Come explore the first metaverse in history: a timeline of metaverse development. From Snow Crash, to Second Life, to Decentraland.

https://www.cinemonic.com/the-first-metaverse-in-history-a-timeline-of-metaverse-development/

The year is 1992. George H. W. Bush is the President. The internet is a wild-wild west, pretty brand-shiny-new in it’s early stages:

and video games are far beyond the point of immersive 3D worlds.

Well, eventually, June comes along. And when it does- A hot-spicy new sci-fi story hits the shelves and roars the world. That book- “Snow Crash” by Neal Stephenson.

ESG (Environment, Social & Governance)

Blockchain holds the key to solving ESG’s crisis of trust

Chris Ford, Head of Government Affairs EMEA at enterprise trust technology firm R3, explains how the application of blockchain can enhance trust in ESG

https://fintechmagazine.com/articles/blockchain-holds-the-key-to-solving-esgs-crisis-of-trust

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Disclaimer: This note is distributed by Regiment, LLC for informational purposes only and is sourced from publicly available media reports. It is not an investment recommendation or solicitation for any investment. The information is current as of date and subject to change. In such case Regiment, LLC does not undertake to provide any updates. Recipients must be aware that any private, alternative investments discussed are speculative in nature, often illiquid, and subject to loss of capital.