Kakao and Com2uS Downsizing Metaverse Teams Amid First-Half Losses
South Korea's top internet company, Kakao, and leading game developer, Com2uS, are reportedly downsizing their metaverse teams due to significant losses incurred by their virtual world platforms in the first half of 2023. Here are some key points: Com2uS, a major mobile game developer w ...
German Financial Regulator Stresses Urgent Need for Global Cryptocurrency Regulation
Rupert Schaefer, the Executive Director of Strategy, Policy and Control at the German Federal Financial Supervisory Authority (BaFin), has emphasized the importance of global regulation for the cryptocurrency industry. In a blog post, Schaefer likened regulators to air traffic controllers, and he hi ...
Dubai Financial Services Authority Proposes New Rules to Strengthen Crypto Regulation
The Dubai Financial Services Authority (FSA), responsible for overseeing crypto regulation, said it has begun work on new rules to combat fraud, money laundering and terrorist financing. The agency assured that the Dubai FSA's updated principles will meet the regulatory r ...
Financial Stability Board to Prepare Standards for Regulating Cryptocurrencies by July
In an effort to monitor the global financial system and advise G20 member countries, the Financial Stability Board (FSB) has revealed its intention to prepare standards for regulating cryptocurrencies by July. Klass Knot, the Chairman of the FSB, has notified G20 finance ministers and central ban ...