Mars Program Sees Huobi Venture into Space

Carrieverse, a South Korean blockchain gaming project based in the Metaverse, launched its global version on March 28. Since then, the game has reportedly seen over 100,000 daily active users (DAU) every day, hitting 150,000 DAUs on its first day of release. The DAU index and related infographics were released by Carrieverse on April 1, according to the local media outlet Kyunghyang Games.  A joint venture between Carriesoft and Mantisco, this blockchain-enabled metaverse platform provides users with various content centered around the life of the game's main character, "Carrie," and her friends. At the heart of the project lies the “Play, earn, and own” model. Aside from the content backed by the "Carrie and Friends" intellectual property (IP), the project has expanded its footprint by launching the Cling Wallet, the NFT project "Kola from the Space" and the crypto game "Superkola Tactics."Photo by GuerrillaBuzz on UnsplashUsers from Southeast Asia and Latin AmericaAccording to data provided by Carrieverse, a significant portion of its users come from Southeast Asian and Latin American countries. Notably, in Indonesia and Vietnam, Carrieverse ranked second and third respectively in the newly released game section of their Google Play Store. The game generated the 15th-largest revenues of all games played in the Philippines and the 16th-largest revenues in Thailand. Carrieverse is reportedly on the top 100 casual games on Google Play Store across 86 countries.  The game also topped the trending chart on the global blockchain ranking site "PlayToEarn" on the day of its global launch, securing second place as of the following Sunday.  Building a robust IP-based metaverse platform The CEO of Carrieverse, David Yoon, said that Carrieverse strives to lead the Korean blockchain gaming industry and contribute to Korea's reputation as a Web3 powerhouse. Yoon said, "A sound ecosystem is being created due to the increase in on-chain data such as wallet generation and conversion of the governance token $CVTX, as well as the increased incineration of Celeb, which can be exchanged for $CVTX. The value of the game and $CVTX will continue to rise further." Carrieverse has also announced plans for various large-scale IP collaborations with other companies, intending to become an IP-based metaverse platform with high DAUs.  

SEBA Bank Receives Conditional Approval for Crypto Services in Hong KongSwiss-based crypto-centric SEBA Bank has secured conditional approval from Hong Kong’s Securities and Futures Commission (SFC) to offer crypto services within the autonomous Chinese territory.While there are stipulations yet to be met before the license is fully granted, the development marks a significant progression when it comes to SEBA’s global business ambitions.Photo by Ruslan Bardash on UnsplashExpanding in AsiaThe “approval-in-principle” comes as part of SEBA’s strategic efforts to expand its foothold in the Asian crypto market. Once the conditions are fulfilled and the license is formalized, SEBA will be well positioned to provide Hong Kong with a range of comprehensive crypto services.This includes securities dealing encompassing crypto-related structured products, as well as consultation and management of both digital assets and traditional securities. SEBA sees potential in the offering of derivative products as it has identified demand for derivatives and structured products within the Asian crypto market.This step forward for SEBA follows earlier reports that the bank was actively growing its workforce in pursuit of digital asset licenses for both Hong Kong and Singapore. The company has grown its headcount from seven to 20 across these locations, as it looks to establish a strong presence in the Asian market.The move aligns with Hong Kong’s evolving stance on cryptocurrency and digital finance. Introduced in June, the virtual asset service provider (VASP) license was intended to regulate virtual asset services within Hong Kong’s legal framework. Currently, only two crypto exchanges have secured these licenses.Cryptocurrency exchange HashKey, alongside digital assets platform OSL, became one of the first licensed crypto exchanges in Hong Kong recently. Since then, it has expanded its offerings to retail users, allowing them to purchase Bitcoin and Ethereum using US dollars. Leading up to that licensing approval, it had also launched a wealth management service for high-net-worth individuals and institutional investors. The majority of publicly accessible VASPs remain unregulated, according to a recent statement by the SFC.Regulatory balanceThe Hong Kong Monetary Authority (HKMA) has also shown interest in fostering relationships between established financial institutions and crypto exchanges, further signaling the region’s growing engagement with the crypto space. It’s also pointing towards getting the balance right between enabling digital asset innovation and having sufficient regulation in place to protect investors. In May, its CEO, Eddie Yue, stated that Hong Kong wouldn’t be a place for light touch regulation.The licensing process in Hong Kong hasn’t been without its difficulties. The interest in obtaining crypto trading licenses caught the SFC flat footed as it found itself understaffed to work through the licensing applications that arrived at its door. The backlog prompted commentary from SEBA’s CEO for the Asia Pacific (APAC) region, Amy Yu, back in May, with Yu highlighting that the backlog had increased significantly over the course of nine months.While SEBA has broken into the market in the APAC region via its efforts in Hong Kong, it’s understood that the bank has plans to develop its business in Singapore further over the course of the coming months.

Putin approves inclusion of digital ruble within Russian tax codeRussian President Vladimir Putin has given his approval to a new law that incorporates the digital ruble into Russia’s tax code, marking a significant step in the country’s push towards digital currency adoption.Photo by Egor Filin on UnsplashAuthority to recover fundsThe development was reported by Russian news outlet Telesputnik on Tuesday. The legislation introduces terms such as “digital ruble” and “digital ruble wallet” into the tax code. It outlines the legal framework for these digital assets. Notably, the law grants bailiffs and court-appointed individuals the authority to recover central bank digital currency (CBDC) funds from wallets in cases where taxpayers lack sufficient fiat in their bank accounts.Moreover, the law empowers tax authorities to suspend transactions on digital ruble wallets and request documentation from platform operators to confirm fund withdrawals from a taxpayer’s account. In a move aimed at streamlining the process, confiscated digital coins can be transferred directly to the Russian Treasury.This legislation, the second major CBDC-related law passed in 2023, signals Russia’s interest in fast-tracking the implementation of its digital ruble. Despite conflicting statements, the Ministry of Finance anticipates that all Russians will have the opportunity to use digital ruble wallets for payments by 2024. However, the Central Bank has indicated a potentially delayed national roll-out, stating it may not occur before 2025.Key provisions outlined in the new law include defining the Central Bank’s role as the “operator of the digital ruble platform” and establishing liability procedures if the bank fails to fulfill these obligations. Additionally, the law addresses the taxation of transactions involving digital rubles, with exemptions for Value Added Tax (VAT) on account opening and holding.Working around sanctionsAs Russia edges closer to the digital ruble roll-out, the nation faces economic challenges due to ongoing U.S. and EU sanctions. Moscow views the CBDC as a strategic tool in international trade, aiming to leverage it to navigate economic restrictions. Government officials believe the digital ruble will play a crucial role in reducing costs and risks for domestic firms engaged in foreign trade.The Eurasian Economic Union (EAEU), a five-member economic bloc including Russia, Belarus, Kazakhstan, Armenia and Kyrgyzstan, is exploring the potential for cross-border CBDC functions. Belarus and Kazakhstan are also expediting their CBDC projects, with a focus on cross-border trading capabilities.Earlier this month, a Russian politician could begin to use their respective CBDCs for bilateral trade deals as early as next year. Even before sanctions hit, both Russia and China had been working towards de-dollarization for some time.Ongoing pilot programThe Central Bank is actively piloting the digital ruble in 11 Russian cities alongside 13 partner commercial banks. Earlier this month, the bank stated that “the pilot will continue at least until the end of 2024 and, if necessary, will be extended.” The Central Bank added that “only after the completion of the pilot will the digital ruble be introduced into mass circulation.”A group of 16 banks is set to join the trial in the coming year. The finance ministry aims to utilize the digital ruble for government subsidies and welfare payments, with plans for implementation in 2024.