Web3 🌖 Tue Express: Binance Secures Virtual Asset Exchange License in Dubai, and more!

Welcome to our latest crypto news roundup! Today, we have an array of fascinating developments from the world of cryptocurrencies and blockchain. From Binance's exciting license in Dubai to Sorare's efforts to expand its appeal, Curve Finance's unfortunate crypto hack, South Korea's CBDC pilot city reveal, and the SEC's watchful eye on Coinbase's Bitcoin trading activities, there's a lot to cover. Let's dive into the top stories shaping the crypto landscape!

1/ Binance Obtains License to Operate in Dubai

In a significant move for the crypto world, Binance has obtained a license to operate as a virtual asset exchange in Dubai. This development marks a major step towards embracing cryptocurrencies in the region. Learn more about the implications of Binance's licensing in Dubai and how it's likely to influence the crypto ecosystem in the Middle East.

Binance obtains license to operate as virtual asset exchange in Dubai

The world’s largest cryptocurrency exchange can now offer authorized crypto services to institutional and qualified retail investors in Dubai, the company said today.

The BlockTimmy Shen

2/ Sorare Aims to Increase Appeal with Crypto Strategy

Fantasy-sports firm Sorare is making headlines with its plan to dilute its crypto association, aiming to increase its mass appeal. Explore how Sorare's strategy may open up new possibilities for wider adoption while still leveraging the power of blockchain and cryptocurrencies. Read more

Fantasy-Sports Firm Sorare Looks to Increase Appeal by Diluting Crypto Association

While Sorare has over 5 million registered users, it is looking to fuel further growth by adding support for the U.S. dollar, euro and British pound.

CoinDeskJamie Crawley

3/ Curve Finance Faces $70 Million Crypto Hack

Curve Finance, a prominent decentralized finance (DeFi) platform, has suffered a massive $70 million crypto hack. Delve into the details of the attack, its impact on the DeFi community, and how Curve Finance plans to recover from this setback.

$70 million hack on decentralized Curve Finance platform: full details of the crypto attack

On Sunday, July 30, 5 separate crypto hacks were performed to the Curve Finance decentralized protocol. All details below.

The CryptonomistAlessandro Adami

4/ South Korea Reveals City for CBDC Pilot

South Korea has disclosed the city chosen for its central bank digital currency (CBDC) pilot project, signaling a crucial step in exploring the potential of digital currencies. Uncover which city is set to test this groundbreaking initiative and what it means for the future of digital payments in South Korea.

South Korea to pilot CBDC in one of these three cities, not Seoul

According to local reports, officials from banks in Korea believe the Bank of Korea is leaning towards Jeju due to its population size in comparison to Busan.

CointelegraphSavannah Fortis

5/ SEC Scrutinizes Coinbase's Bitcoin Trading

The U.S. Securities and Exchange Commission (SEC) is closely examining Coinbase's Bitcoin trading activities. Understand the implications of this scrutiny on Coinbase, one of the leading cryptocurrency exchanges, and how it may shape the regulatory landscape for the broader crypto industry.

SEC wanted Coinbase to offer only bitcoin trading

Coinbase delisting all assets except bitcoin would have effectively spelled “the end of the crypto industry in the US,” CEO told the FT

BlockworksShalini Nagarajan

Conclusion: In this comprehensive crypto news roundup, we've covered the latest developments shaking up the world of blockchain and digital currencies. From Binance's Dubai license to Sorare's innovative crypto strategy, Curve Finance's unfortunate hack, South Korea's CBDC pilot, and the SEC's watchful eyes on Coinbase, these stories underscore the dynamic and ever-evolving nature of the crypto space. Stay tuned for more updates as we continue to explore the exciting world of cryptocurrencies and blockchain technology!

Disclaimer: The information provided in this blog post is based on external sources. Please do your own research and due diligence before making any investment or financial decisions based on the content shared here.

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