Exhibition in Goyang City presents blockchain’s use in digital media

CarrieVerse token CVTX listed on BitgetWeb3 metaverse and NFT platform CarrieVerse’s governance token CVTX will be listed on global cryptocurrency exchange Bitget on Dec. 13, according to an article published by South Korean news outlet Money Today. This is the eighth exchange listing for the altcoin, following Gate.io, GOPAX, BingX and more. This comes as part of the platform’s efforts to expand its Web3 ecosystem.Photo by Maxim Hopman on UnsplashCVTX’s versatilityBuilt on Polygon, CVTX is integrated into the tokenomics ecosystem of CarrieVerse and its card strategy role-playing game (RPG) SuperKola Tactics. It is also the governance token for the CarrieVerse blockchain gaming platform Cling. CVTX can be traded for USDT on all of the exchanges it is listed on except for GOPAX, which offers a CVTX/KRW pair. KRW stands for Korean won.Global expansionLast month, CarrieVerse also joined the Dubai Multi Commodities Centre (DMCC), the UAE’s largest free-trade zone for blockchain and crypto companies, as a metaverse service provider. The platform has received approval to set up a local subsidiary there, which will serve as a base to expand its ecosystem, particularly in the Middle East and North Africa (MENA) region.“The market value of CarrieVerse and CVTX is expected to significantly increase once the platform is released in target regions. This will serve as a foundation for more listings on major domestic and international exchanges,” the company said, adding that its number of daily active users has exceeded 5,000.Bitget’s substantial presenceBitget is a cryptocurrency derivatives exchange registered in Seychelles, with global offices in Japan, South Korea, Canada and more. As one of the top ten derivatives exchanges in the world according to CoinMarketCap, Bitget handles over five million users and more than 500 cryptocurrencies. It is also registered on South Korea’s two largest exchanges, Upbit and Bithumb, as a market that facilitates deposits and withdrawals after the implementation of the crypto Travel Rule. The Travel Rule, enforced by the intergovernmental Financial Action Task Force, states that VASPs must share personal information about customers when facilitating crypto transactions that exceed a certain amount as a means of preventing related crimes.

Hana Securities to Accelerate Security Token Platform DevelopmentHana Securities, the securities arm of South Korean financial holding company Hana Financial Group, said Monday it will build a security token platform starting next month to expand its network and capabilities in digital assets in line with the ever-changing financial landscape.Photo by Shubham Dhage on UnsplashPursuing market dominanceThe company revealed that it will choose an external firm by this month to commission the construction of the platform. It also plans to dominate the market by applying to get the platform approved as an innovative financial service by the end of this year. The Innovative Financial Services system, operated by the Fintech Center Korea, is a system that offers special exemptions from regulation for unique and innovative financial services.This strategic move is poised to position Hana Securities as a pioneering force in offering financial services that circumvent conventional regulations, exemplifying its dedication to fostering innovation and originality.Cultivating collaborative synergiesHana Securities is also pursuing partnerships with digital asset enterprises to work on security token projects and platforms that allow for fractional investment in underlying assets. The firm has already entered into business agreements with key companies such as art gallery Print Bakery, tech solution provider ITCEN, and content distributor DANAL Entertainment to collaborate in various sectors, including art, precious metals like gold and silver, and mobile content.This multifaceted approach not only underscores Hana Securities’ versatility but also its commitment to fusing traditional and modern assets in the realm of security tokens.It will also expand collaboration models with companies running new asset platforms, such as those related to real estate funding for small businesses and digital content distribution.“Companies with various underlying assets are showing high interest in the issuance and distribution markets for security tokens,” said Choi Won-young, Head of Hana Securities’ Digital Division.“Through the enhancement of our business model and rapid platform development, we aim to connect various assets to security token products, supply them to the market, and provide customers with new investment experiences.”

Thailand Pushes Back Against Facebook-Enabled Crypto ScamsThai authorities are contemplating serious action against social media giant Meta (formerly Facebook), as Thailand battles against fraudulent cryptocurrency schemes and misleading investment advertisements propagated through Facebook, given a rise in the occurrence of such scams.Photo by Dan Freeman on Unsplash200,000 victimsThe Ministry of Digital Economy and Society (MDES) in Thailand has revealed that over 200,000 individuals in the country have fallen victim to fraudulent Facebook advertisements, which tout promises of massive returns through crypto-related investments and other financial opportunities. These deceitful ads have preyed on unsuspecting users, leading to growing concerns about online safety and consumer protection.The fraudulent adverts often make outrageous claims, guaranteeing daily profits as high as 30%. To add credibility, scammers even resort to using images of celebrities and renowned figures from the financial industry as fabricated endorsements. Some ads have gone to the extent of replicating the logos and symbols of the Thailand Securities and Exchange Commission (SEC) and the Stock Exchange of Thailand to establish an appearance of legitimacy.Inadequate responseChaiwut Thanakamanusorn, Minister of MDES, acknowledged that the ministry has engaged in discussions with Facebook regarding the alarming prevalence of these fraudulent ads on its platform.Thanakamanusorn stated: “In the past, the ministry talked to Facebook all the time, but did not screen advertisers, causing damage to Thai people of more than 100,000 million baht.” Despite sending a letter to the platform requesting the removal of more than 5,301 misleading advertisements, Facebook’s response has been inadequate in addressing the issue effectively.In the face of Facebook’s reluctance to take appropriate action against these fraudulent ads and the substantial financial damage amounting to $2.8 million, MDES has issued a stern warning. Should Facebook fail to rectify the situation, MDES is prepared to pursue a court-issued shutdown order against the platform within a span of seven days.To protect the public from falling victim to these scams, MDES has advised individuals to exercise caution when encountering ads that promise exorbitant profits. Moreover, users are urged to be skeptical of endorsements from celebrities, as these images are often manipulated to deceive the public. The ministry also emphasized the importance of verifying the credentials of businesses and platforms before engaging with them.Safeguarding investorsThailand’s regulatory efforts in the cryptocurrency domain have taken a cautious trajectory. Thailand’s Securities and Exchange Commission (SEC) has stepped up its efforts to safeguard investors from crypto scams by instituting stringent guidelines against deceptive crypto marketing.As part of those guidelines, the SEC stated: “It is forbidden to advertise or persuade the general public or do any other act in the manner of supporting the deposit taking & lending service.” Acknowledging the inherent volatility of the crypto market, the SEC has mandated risk-related disclosures for all crypto trading platforms.With Facebook boasting around 48.1 million users in Thailand as of January 2023, the platform holds substantial influence, making the resolution of this issue even more critical. Striking a balance between innovation and regulatory measures is imperative to ensure that online spaces remain safe and conducive to a healthy crypto market.