{"id":630782,"date":"2023-04-18T19:55:55","date_gmt":"2023-04-19T00:55:55","guid":{"rendered":"https:\/\/news.sellorbuyhomefast.com\/index.php\/2023\/04\/18\/today-in-crypto-luno-leaving-singapore-wirex-launching-private-luxury-service-court-extends-creditor-protection-for-babel-finance\/"},"modified":"2023-04-18T19:55:55","modified_gmt":"2023-04-19T00:55:55","slug":"today-in-crypto-luno-leaving-singapore-wirex-launching-private-luxury-service-court-extends-creditor-protection-for-babel-finance","status":"publish","type":"post","link":"https:\/\/newsycanuse.com\/index.php\/2023\/04\/18\/today-in-crypto-luno-leaving-singapore-wirex-launching-private-luxury-service-court-extends-creditor-protection-for-babel-finance\/","title":{"rendered":"Today in Crypto: Luno Leaving Singapore, Wirex Launching Private \u2018Luxury Service\u2019, Court Extends Creditor Protection for Babel Finance"},"content":{"rendered":"<div>\n            <main><\/p>\n<div>\n<div>\n<p><a href=\"http:\/\/cryptonews.com\/editors\/sead-fadilpasic\/\"><\/p>\n<p>             <img decoding=\"async\" alt=\"Sead Fadilpa\u0161i\u0107\" loading=\"auto\"  src=\"https:\/\/v2.cimg.co\/authors\/12\/5a65ab71dd90c.jpg\" width=\"900\"><br \/>\n    <\/a><\/p>\n<\/div>\n<div>\n<div>\n<p><time datetime=\"2023-04-18T15:00:00+00:00\"><br \/>\n                                            Apr 18, 2023 8:00 AM EDT<br \/>\n                                        <\/time><br \/>\n                                                                        \u00b7 3 min read<\/p>\n<\/p><\/div>\n<div>\n<figure><img decoding=\"async\" src=\"https:\/\/v2.cimg.co\/news\/110632\/267855\/adobestock-mazur-travel-1.jpeg\" srcset width alt><figcaption>Source: AdobeStock \/ Mazur Travel<\/figcaption><\/figure>\n<p><i>Get your daily, bite-sized digest of cryptoasset and blockchain-related news \u2013 investigating the stories flying under the radar of today\u2019s crypto news.<\/i><br \/>__________<\/p>\n<h2>Exchange news<\/h2>\n<ul>\n<li>Crypto platform <a href=\"https:\/\/cryptonews.com\/tags\/luno\/\"><strong>Luno<\/strong><\/a>, whose parent company is the crypto venture capitalist <a href=\"https:\/\/cryptonews.com\/tags\/digital-currency-group\/\"><strong>Digital Currency Group<\/strong><\/a> (DCG), will exit the <a href=\"https:\/\/cryptonews.com\/tags\/singapore\/\">Singapore<\/a> market on June 20 and withdraw its license application. \u201cThis decision was made as part of a regular evaluation of our global strategy and presence,\u201d <a href=\"https:\/\/discover.luno.com\/thank-you-singapore\/\" target=\"_blank\" rel=\"noopener\">said<\/a> the team. \u201cAs a result of this decision, we have also informed the <strong>Monetary Authority of Singapore<\/strong> of our intention to withdraw our license application.\u201d<\/li>\n<li><a href=\"https:\/\/cryptonews.com\/tags\/wirex\/\"><strong>Wirex<\/strong><\/a>, a payments platform with over 5.5m customers, has launched <strong>Wirex Private<\/strong>, aimed at its \u201cgrowing segment of affluent customers,\u201d <a href=\"https:\/\/www.prnewswire.co.uk\/news-releases\/wirex-announces-the-wirex-private-service-a-new-top-tier-of-membership-301799223.html\" target=\"_blank\" rel=\"noopener\">said<\/a> the press release. This product will offer \u201ca luxury service including exceptional levels of support and exclusive perks at no additional cost,\u201d including no fees for membership, a dedicated account manager to provide priority support, bespoke limits and lending terms, and up to 8% Cryptoback rewards for all card purchases, it said.<\/li>\n<\/ul>\n<h2>Legal news<\/h2>\n<ul>\n<li>A court in Singapore has extended creditor protection for the troubled cryptocurrency lending firm <a href=\"https:\/\/cryptonews.com\/tags\/babel-finance\/\"><strong>Babel Finance<\/strong><\/a> by another three months, Bloomberg <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2023-04-18\/crypto-lender-babel-s-creditor-protection-extended-in-singapore\" target=\"_blank\" rel=\"noopener\">reported<\/a>, citing co-founder Flex Yang. The moratorium will now last until July 21. Following last year\u2019s crypto meltdown, the company owes $800 million to creditors. Per its proposed restructuring plan, Babel would repay debt with revenue generated by a new decentralized finance (<a href=\"https:\/\/cryptonews.com\/tags\/defi\/\">DeFi<\/a>) project minting the \u2018Babel Recovery Coins\u2019.<\/li>\n<\/ul>\n<h2>Regulation news<\/h2>\n<ul>\n<li>The federal securities regulator in the United Arab Emirates (<a href=\"https:\/\/cryptonews.com\/tags\/uae\/\">UAE<\/a>), the <strong>Securities and Commodities Authority<\/strong> (SCA), will start accepting applications from companies looking to provide crypto services in the country, <a href=\"https:\/\/www.sca.gov.ae\/ar\/media-center\/news\/17\/4\/2023\/sca-announces-the-start-of-receiving-applications-for-licensing-virtual-asset-services.aspx\" target=\"_blank\" rel=\"noopener\">according<\/a> to an announcement. Companies looking to operate in the <a href=\"https:\/\/cryptonews.com\/tags\/dubai\/\">Emirate of Dubai<\/a> must obtain a license from its <strong>Virtual Assets Regulatory Authority<\/strong> (VARA) in addition to the SCA approval, it said.<\/li>\n<\/ul>\n<h2>Investment news<\/h2>\n<ul>\n<li>Crypto derivatives exchange <a href=\"https:\/\/cryptonews.com\/tags\/bitget\/\"><strong>Bitget<\/strong><\/a> partnered with <strong>Core DAO<\/strong>, an organization committed to the development of the <strong>Satoshi Plus<\/strong> ecosystem, to launch a $200 million ecosystem fund aimed at supporting decentralized applications (<a href=\"https:\/\/cryptonews.com\/tags\/dapp\/\">dapps<\/a>) built on <strong>Core Network<\/strong> Layer-1 blockchain. <a href=\"https:\/\/www.prnewswire.co.uk\/news-releases\/bitget-partners-with-core-dao-to-launch-a-200-million-ecosystem-fund-301800143.html\" target=\"_blank\" rel=\"noopener\">Per<\/a> the press release, <strong>The Ecosystem Fund<\/strong>, which is backed by strategic partners, including Bitget and crypto trading platform <strong>MEXC<\/strong>, will provide support to early-stage projects for research and development, recruiting, marketing, community-building programs, and other priority growth initiatives.<\/li>\n<li>The <a href=\"https:\/\/cryptonews.com\/tags\/hashgraph\/\"><strong>Hashgraph Association<\/strong><\/a>, a non-profit organization supporting the broad adoption of the <a href=\"https:\/\/cryptonews.com\/tags\/hedera\/\"><strong>Hedera<\/strong><\/a> network, today announced the launch of the <strong>Hashgraph Enterprise Program<\/strong> (HEP). Supported with up to USD 22.5m worth of HBAR from Hedera, the program aims to drive the onboarding of more than forty enterprise projects per year to the network. Projects will be eligible for up to $500,000 equivalent in HBAR funding per participating enterprise, said the press release. The Hashgraph Association also welcomed Rob Allen, previously SVP of Ecosystem Growth at <strong>The HBAR Foundation<\/strong>, to its leadership team and expanded its personnel with ten additional new hires in 2023 to support the launch and operations of the HEP.<\/li>\n<\/ul>\n<h2>Blockchain news<\/h2>\n<ul>\n<li>The <a href=\"https:\/\/cryptonews.com\/tags\/dfinity\/\"><strong>DFINITY Foundation<\/strong><\/a>, the Swiss non-profit and major contributor to the <a href=\"https:\/\/cryptonews.com\/tags\/internet-computer\/\"><strong>Internet Computer<\/strong><\/a> blockchain (ICP), today launched the Proof of Green (PoG) initiative, which \u201caims to bring transparency and cut greenwashing in the <a href=\"https:\/\/cryptonews.com\/tags\/blockchain\/\">blockchain<\/a> industry by standardizing how blockchains report carbon consumption,\u201d said the press release. The DFINITY Foundation is working with <strong>Carbon Crowd<\/strong>, a climate tech startup developing solutions to decarbonize cloud infrastructure.<\/li>\n<\/ul>\n<h2>Web3 news<\/h2>\n<ul>\n<li><a href=\"https:\/\/cryptonews.com\/tags\/web3\/\">Web3<\/a> network <a href=\"https:\/\/cryptonews.com\/tags\/peaq\/\"><strong>peaq<\/strong><\/a> announced its integration with <a href=\"https:\/\/cryptonews.com\/tags\/fetchai\/\"><strong>Fetch.ai<\/strong><\/a>, a platform that powers peer-to-peer (<a href=\"https:\/\/cryptonews.com\/tags\/p2p\/\">P2P<\/a>) applications with automation and <a href=\"https:\/\/cryptonews.com\/tags\/ai\/\">AI<\/a> capabilities. <a href=\"https:\/\/www.peaq.network\/blog\/peaq-and-fetch-ai-bring-ai-agents-to-polkadot-and-kusama\" target=\"_blank\" rel=\"noopener\">According<\/a> to the press release, the integration brings AI microagents to peaq\u2019s machine-centric network. Through peaq and its canary network <strong>krest<\/strong>, the integration between the two projects unlocks Fetch.ai\u2019s framework for the wider <a href=\"https:\/\/cryptonews.com\/tags\/polkadot\/\"><strong>Polkadot<\/strong><\/a> and <a href=\"https:\/\/cryptonews.com\/tags\/kusama\/\"><strong>Kusama<\/strong><\/a> ecosystem, it said.<\/li>\n<\/ul><\/div>\n<hr><\/div>\n<\/p><\/div>\n<p>            <\/main><\/p>\n<div>\n<h3>Recommended<\/h3>\n<div>\n<h3>Latest news<\/h3>\n<\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<p><a href=\"https:\/\/cryptonews.com\/news\/today-in-crypto-luno-leaving-singapore-wirex-launching-private-luxury-service-court-extends-creditor-protection-for-babel-finance.htm\" class=\"button purchase\" rel=\"nofollow noopener\" target=\"_blank\">Read More<\/a><br \/>\n Arden Howe<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Apr 18, 2023 8:00 AM EDT \u00b7 3 min read Source: AdobeStock \/ Mazur TravelGet your daily, bite-sized digest of cryptoasset and blockchain-related news \u2013 investigating the stories flying under the radar of today\u2019s crypto news.__________Exchange newsCrypto platform Luno, whose parent company is the crypto venture capitalist Digital Currency Group (DCG), will exit the Singapore<\/p>\n","protected":false},"author":1,"featured_media":630783,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[22791,695],"tags":[],"class_list":{"0":"post-630782","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-crypto","8":"category-today"},"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts\/630782","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/comments?post=630782"}],"version-history":[{"count":0,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts\/630782\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/media\/630783"}],"wp:attachment":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/media?parent=630782"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/categories?post=630782"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/tags?post=630782"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}