Bitcoin News and Finance: What You Need to Know

The U.S. Department of the Treasury has answered some questions on regulatory compliance relating to Tornado Cash, a recently sanctioned crypto mixer. The answers include how to withdraw crypto or complete transactions initiated using Tornado Cash prior to its sanction and how to deal with “dusting” transactions. Treasury Department Publishes Tornado Cash FAQs The U.S. Department of the Treasury answered some frequently asked questions Tuesday about the sanctioned cryptocurrency mixing service Tornado Cash. On Aug. 8, the Treasury’s Office of Foreign Assets Control (OFAC) sanctioned the Ethereum-based mixer and prohibited U.S. persons from “engaging in any transaction with Tornado Cash or its blocked property or interests in property.” One of the questions concerns how to complete transactions involving Tornado Cash that were initiated prior to the sanction. In order to complete the transactions or withdraw cryptocurrency without violating U.S. sanctions regulations, the Treasur...

A Chinese intermediate court based in Beijing recently upheld a lower court’s ruling which determined that cryptocurrency is a virtual property protected by the law. The court clarified that regulations issued by the Bank of China and others only prohibit the circulation of virtual currency. ‘Financing Behaviour Prohibited by the Law’ An intermediate court in China recently upheld a lower court’s ruling that designated litecoin a virtual property protected by the country’s laws, a report has said. The court clarified that the country’s relevant administrative regulations only prohibit the circulation of virtual currency or its use as a currency. The Beijing-based court’s ruling followed an appeal by Chinese resident Ding Hao who wanted it to quash the lower court’s ruling in a case in which he is accused of failing to return 33,000 litecoin ( LTC ) as per an agreement with Zhai Wenjie. According to a document released by the court , on December 5, 2014, Hao received 50,000 LTC fr...

PRESS RELEASE. B.Duck, a global character IP, is entering Web3 with its first metaverse partnership with GigaSpace, working alongside MADworld to establish a Web3 blueprint for brands and IPs in the metaverse. Created by the Hong Kong-listed company Semk Holdings International Limited (2250 HK), B.Duck joins the initiative “Project Spaceport” by acquiring land NFTs in the GigaSpace and will build experiences to bring joy, positivity, and fun to its 10+ million fans around the world. Brought into the digital world by the NFT platform MADworld, B.Duck has already launched a 3D NFT collection. NFT owners can soon travel through GigaSpace and spread positivity to every corner of the virtual space. Project Spaceport & Web3 Project Spaceport will be a cultural space district. Brands can create their own virtual space when the metaverse launches. B.Duck has permanently cemented its web3 presence on the “Map of the Galaxy” at GigaSpace. MADworld, an NFT platform backed by Animoca br...

Varus, a retailer with over 100 supermarket stores across Ukraine, has partnered with the world’s leading digital asset exchange, Binance, to launch cryptocurrency payments. Customers will now be able to order groceries online and cover the bill through a Binance Pay wallet. Ukrainians to Shop Online From Varus Supermarket Using Crypto Binance, the largest cryptocurrency exchange by daily trading volume, and Ukraine’s supermarket chain Varus have announced a partnership that will allow Ukrainian shoppers to purchase food and other goods online with digital coins. Using the Binance and Varus apps, customers will be able to enjoy instant crypto payments and fast delivery in nine Ukrainian cities: the capital Kyiv, Dnipro, Kamianske, Kryvyi Rih, Zaporizhzhia, Brovary, Nikopol, Vyshhorod, and Pavlograd. To take advantage of the payment option, crypto owners will have to download and install the Binance app on their Android or iOS devices. Then, they can go to the Varus website, selec...

Square Enix, one of the biggest Japan-based gaming companies, has inked a partnership with Oasys, a Web3-oriented blockchain project. As part of this partnership, Square Enix will be part of the first 21 validators of the Oasys network, and will explore new possibilities regarding developing blockchain games using this decentralized tech, including user-generated contributions. Square Enix to Validate Oasys Blockchain Square Enix has been one of the few AAA gaming companies in Japan seeking to embrace blockchain elements as part of its business model. The company recently announced that it will go all the way, becoming part of the initial validator set of Oasys , a gaming-oriented blockchain advertised as a “high-speed, zero gas fee experience” for users. The Japanese gaming giant will be using the Oasys blockchain as a tool for the development of new blockchain games and the inclusion of user-generated content in virtual worlds. About this new partnership, Yosuke Saito, director ...