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Terra community seems dead set against Do Kwon’s fork proposal

The majority of the Terra community is against the idea of forking the blockchain after its collapse last week, according to a preliminary poll on the network’s research and governance forum.  As of 6:45 a.m. ET on Tuesday, 90% of the more than 1,000 votes in the online poll reject a fork, which would create a new, parallel version of the Terra blockchain. The ballot is open to anyone who logs into the Terra forum, whether or not they hold …

Nigeria’s markets regulator publishes set of rules for digital assets

Nigeria’s markets regulator has published 54 pages of regulations for digital assets, as the country may be stepping back from an earlier ban on cryptocurrencies. Last February, the Central Bank of Nigeria (CBN) issued a letter telling regulated financial institutions in the country to “immediately” close accounts connected to cryptocurrency-related activities, The Block reported at the time. Still, Nigeria’s young, tech-savvy population has eagerly adopted cryptocurrencies, often using peer-to-peer trading offered by crypto exchanges to avoid the ban, Reuters noted …

Central African bank regulator reminds member states of crypto ban, Reuters reports

Central Africa’s regional banking regulator reminded member states on Friday of its ban on cryptocurrencies, just weeks after the Central African Republic (CAR) made bitcoin legal tender, Reuters said. The reminder came after a chaotic week for crypto when the linked meltdown of the algorithmic stablecoin UST and Terra’s native Luna asset resulted in big losses for many of those involved. It also led to stoppages of the Terra blockchain and market trading halts as the circulating supply of Luna …

South Korean president-elect’s crypto plans disappoint fintech groups: report

The Korea Society of Fintech & Blockchain (KSFB) and the Korea Digital Asset Service Provider Association (KDA) said President-elect Yoon Suk-yeol’s cryptocurrency policy proposals were disappointing because they left out crucial objectives, Forkast reported on Friday. Yoon will take office on May 10.  While the incoming administration released 110 national tasks earlier this week that included supportive policies on cryptocurrencies, it omitted the establishment of a government agency dedicated to digital assets and detailed plans on promoting the cryptocurrency market, …

Ethereum scaling startup Optimism confirms governance token as part of broader shift

Optimism, the Ethereum scaling startup, said Tuesday that it will shift to a new governance structure powered in part by a dedicated token. The details were included in an announcement thread shared on Twitter. At the heart of the effort is what has been dubbed the Optimism Collective, which is itself comprised of two parts: a “Token House” and a “Citizens House.” “The Citizens’ House will govern public goods funding, creating a flywheel of protocol development,” per the team’s announcement, …

Binance denies report it agreed to share user data with Russian FSB-controlled agencies

Binance posted a denial yesterday of a Reuters report saying that it had agreed to share user information with a Russian financial intelligence agency called Rosfin that collects and analyzes data, and added that it would be making a formal complaint to Reuters citing the media company’s own editorial code. The post by the crypto exchange noted that “a recent article by Reuters has sought to portray – falsely – that Binance has close ties with FSB controlled agencies and …

Tennessee prepares to hold cryptocurrencies: report

Tennessee is seeking a contractor to hold cryptocurrencies on its behalf, the Nashville Post reported this week. The state’s treasury posted a request that potential vendors explain how their companies would manage its virtual currencies, including bitcoin. Tennessee currently holds no crypto, but is seeking a vendor in order to “be prepared in the event that unclaimed virtual currency is remitted to the state’s unclaimed property program,” the report said. A treasury spokesperson declined to elaborate or make any state …

European Commission receives more than 10,000 public comments amid digital euro consultation

The European Commission has received about 10,000 public comments so far on its call for evidence regarding a digital euro, which is to run from April 5 to June 14 and is aimed at getting feedback for the possible establishment and regulation of a digital currency as a new form of central bank money. A targeted consultation is also happening during a similar period, designed to help policymakers consider issues including users’ needs and expectations for a digital euro, a …

Drama erupts around the Waves blockchain project and trading firm Alameda

Over the weekend, a spat broke out between Sasha Ivanov, founder of the Waves blockchain, and trading firm Alameda Research.  Ivanov is alleging underhand dealings, while Alameda seems to imply that it’s simply been taking advantage of high funding rates to make some money. But irrespective of what actually happened, the dispute has led to a controversial proposal within the Waves blockchain community — one designed to hurt Alameda but that could also have a big impact on anyone who trades …

Layer by Layer Issue 24: Fantom, Terra, and Cosmos

March 17, 2022, 8:16AM EDT • 18 min read Quick Take In this weekly series, we dive into some of the most interesting data and developments across the Layer 1 blockchain landscape, from DeFi and bridges to network activity and funding Faced with market uncertainty and heightened tensions, crypto teams and stakeholders are beginning to clash over key governance decisions This week, we take a look at Fantom, Terra, and Cosmos Join The Block Research for exclusive research like this …