CPLABS and Protocol Capital to collaborate on blockchain-enhanced autonomous driving in Qatar

DeSpread and Crypto Times Team Up to Bridge Blockchain Information Gap in Korea and JapanDeSpread, a Web3 consulting company based in South Korea, has announced a partnership with Crypto Times, a blockchain media outlet owned by Japanese digital media company Rokubunnoni. The goal of this collaboration is to tackle information asymmetry in the blockchain industries of both countries and expand their global blockchain services.Photo by Ketut Subiyanto on PexelsLeveraging respective expertiseDeSpread intends to leverage its knowledge of the Korean and global markets to assist international Web3 projects in entering the Japanese market, with the ultimate aim of integrating the global Web3 industry into Japan. Recognizing Crypto Times’ thorough understanding of the Japanese market and its culture, DeSpread has chosen to collaborate with them.Sharing market analysesAs part of their partnership, both companies will localize their research reports on a regular basis to share market analyses of the two countries. To start off, Crypto Times will distribute a paper related to the latest trends of zkSync for free. Subsequent papers will be published on DeSpread’s Scribe channel on the digital content monetization platform Access Protocol.The collaboration also aims to provide a comprehensive consulting and marketing solution for Web3 projects seeking to expand into Korea, Japan, and other markets.Creating synergiesRokubunnoni Co-founder Shingo Arai expressed his belief that the cooperation between DeSpread and Crypto Times will create synergies within the Korean and Japanese blockchain industries. Arai expects that the combined expertise of the two firms will offer valuable insights into the Web3 market, delivering new perspectives. He also highlighted that Crypto Times’ research platform, CT Analysis, will improve its services and provide a greater variety of content to its readers, further contributing to the Japanese crypto market.Echoing similar sentiments, Earl Cho, the head of the Japanese business division at DeSpread, emphasized that the collaboration will facilitate the entry of more Web3 companies from Korea and abroad into the Japanese market. Cho expressed hope that this opportunity would unite the efforts of both countries, enabling the East Asian market to better connect with the global market in the Web3 sphere and positioning East Asia as a leader in the crypto industry.

Indian Supreme Court Scolds Government over Crypto Regulation DelayThe Indian Supreme Court did not mince words recently as it criticized the Union government for its failure to establish clear cryptocurrency regulations in the country.Photo by Studio Art Smile on PexelsLack of crypto clarityThat’s according to a report published by local media outlet, the Hindustan Times, on Friday. It’s understood that the Supreme Court is frustrated with regard to the lack of guidelines surrounding cryptocurrencies. That frustration has arisen as crypto is increasingly coming to the attention of the courts due to it being associated with a rising number of criminal activities.The court directed the government to provide information about any plans to set up a dedicated federal agency to investigate crypto-related crimes. During the proceedings, Justices Surya Kant and Dipankar Datta expressed their disappointment, pointing out the absence of any concrete laws pertaining to cryptocurrencies.Crypto bill failingsThe context for the court’s remarks was the ongoing hearing of petitions related to cryptocurrency fraud cases across different states in India. In light of the gravity of these cases, the court demanded a response from the government regarding its capability to establish an effective mechanism to investigate crypto-related crimes.The struggle for clear and comprehensive crypto regulations in India has been long-standing. As far back as 2018, the government was instructed by the Supreme Court to draft a crypto bill, but progress has been slow. The government has continually promised to provide legislative clarity over the past few years. Despite this, the final draft of the crypto bill has not been produced.Crypto taxesGovernments may drag their feet when it comes to regulatory clarity relative to unfolding innovations but they’re far more responsive when it comes to taxes. The Indian government acted swiftly to impose crypto taxation laws, which took effect in April 2022.During that bull market period, India emerged as one of the leading crypto markets, witnessing the rise of several crypto unicorns and significant trading volumes amounting to billions of dollars. However, the introduction of tax laws had an adverse impact on the thriving crypto industry. Added to that, the lack of regulatory clarity caused many established firms to relocate from India, seeking more favorable environments for their operations.Market potentialDespite the government’s lethargic legislative response and heavy-handed tax policy, there are still reasons for optimism with regard to the development of crypto in India. India’s fintech sector is the third largest in the world, driven more recently by rapid digital adoption, together with efforts to bring about financial inclusion.Last month, Xapo Bank, a Gibraltar-based crypto bank, was sufficiently encouraged by the potential offered in India to enter the Indian market. Earlier this week, the world’s largest asset manager, BlackRock, announced that it was partnering with Jio Financial and re-entering the Indian market after a six-year hiatus.The move could have implications for crypto in India given that BlackRock has changed its tack on crypto, having recently filed an application to launch a bitcoin exchange-traded fund (ETF) in the United States.Notwithstanding these developments, concrete regulatory guidelines will not only protect against criminal activities but also foster a conducive environment for legitimate innovation and growth in the cryptocurrency space.

Korean Crypto Market Outpaces Stock Exchange Amid Bitcoin ETF OptimismThe anticipation is building around the potential approval of BlackRock’s Bitcoin exchange-traded fund (ETF) in the United States. As the world’s largest asset manager is anticipated to obtain a green light, Bitcoin’s price has surged by more than 17% just this week, capturing the keen interest of investors.Photo by Kanchanara on UnsplashCrypto surpassing stocks in daily trading volumeIt’s worth highlighting the surge in the Korean cryptocurrency market, where the daily trading volume has recently eclipsed that of the Korean Composite Stock Price Index (KOSPI).According to local news outlet Maeil Business Newspaper, on October 24, KOSPI recorded a trading volume of KRW 7.83 trillion ($5.8 billion). Yet, in a 24-hour span from 9 a.m. (KST) on October 23 to 9 a.m. on October 24, the combined trading volume of the top five Korean cryptocurrency exchanges reached KRW 8.44 trillion.Breaking it down by exchange, Upbit had a 24-hour trading volume of KRW 6.97 trillion, followed by Bithumb with KRW 1.36 trillion, Coinone with KRW 87.6 billion, Korbit with KRW 18.8 billion, and Gopax with KRW 2.2 billion.Retail investors leaving the stock marketThe surge in the Korean crypto market is largely due to retail investors shifting their focus away from the Korean stock market. This move comes in response to challenges the stock market has been grappling with, such as monetary tightening in the US and increased volatility stemming from the Israel-Hamas war.