View moreIn This Week’s Recap:
- BankSocial X C14 Partnership
- South Africa Licenses Exchanges
- NFT IP Issues
- BankSocial Corner
- Hot Topics
The Big Idea
BankSocial Exchange Expands!
BankSocial® has partnered with C14 to enable users on the BankSocial App to purchase BSL, HBAR, Bitcoin, Ethereum, plus several other coins and tokens in 40+ countries! As part of the partnership, BSL is now listed on the C14 exchange. The BankSocial Exchange also went live in Colorado, Pennsylvania, and Massachusetts.
For the full list of jurisdictions the BankSocial exchange is available, click here: https://support.banksocial.io/en/blog/where-is-the-banksocial-exchange-available. Download the BankSocial App to get started.
• • • •
Adoption News
South African Crypto Exchanges
South Africa’s FSCA approved 59 cryptocurrency platforms for regulation under existing law, making it the first African country to license crypto exchanges. Initially considering separate regulations in 2021, plans persisted into 2022, with the SARB declaring cryptocurrency a financial asset in 2023. Ultimately, the FSCA classified it as a financial product, solidifying its regulatory status.
• • • •
CEX, Rugs, Block and Roll
IP infringement in NFT’s: Report
According to a recent report from the U.S. Copyright Office and Patent and Trademark Office (USPTO), there’s no immediate necessity for changes to United States intellectual property (IP) laws, despite widespread piracy and infringement on nonfungible token (NFT) platforms. The joint study, concluded on March 12, highlighted the challenges surrounding IP law and policy in relation to NFTs. It emphasized that NFT technology currently lacks the capability to prevent unauthorized copying and raised concerns about prevalent trademark infringement and misuse within NFT marketplaces.
• • • •
Crypto News
ETH Dencun Upgrade
Ethereum, the second-largest blockchain following Bitcoin, has activated its highly anticipated “Dencun” upgrade, aimed at boosting growth on layer-2 networks like Arbitrum and Polygon by reducing their data fees. This upgrade, technically a hard fork, was initiated at Ethereum epoch 269,568 at 13:55 UTC (9:55 a.m. ET) and finalized at 14:10 UTC.
A key feature of this upgrade is the introduction of “blobs,” a new storage space on the blockchain specifically designed for data, separate from regular transactions and at a lower cost. Considered Ethereum’s most significant upgrade in nearly a year, it marks a pivotal moment for the blockchain, addressing its notorious high transaction fees and potentially igniting a competition among major layer-2 networks to capitalize on the scalability changes.
• • • •
While anyone can access the BankSocial ecosystem, certain features including the exchange require Verifiied®- our simple KYC solution. Login to My.BankSocial.io and start the process now.
• • • •
Hot Topics
What’s on everyone’s mind?
In the recent Crypto Open Patent Alliance (COPA) trial, U.K. Judge James Mellor dismissed claims that Craig Wright is Satoshi Nakamoto or the creator of the Bitcoin whitepaper. Following closing arguments, Judge Mellor stated that the evidence presented throughout the month-long trial overwhelmingly supports this conclusion. He intends to formalize his decision in a written ruling, affirming that Wright did not develop the Bitcoin system.
Bitcoin has passed the Swiss Franc as the 13 largest currency in the world. Currently, Bitcoin is also within striking difference of the total market cap of silver, which stands at 1.4 Trillion USD at time of writing.
Elon Musk hinted at Tesla accepting Doge for payments of Tesla cars. “Doge is the people’s crypto, so I will support it,” Musk said. Doge surged after the comments.
• • • •
All The Love and All The Power!
was originally published in BankSocial News on Medium, where people are continuing the conversation by highlighting and responding to this story.
