KAZAKHSTAN INTERNET SHUTDOWN DEALS BLOW TO GLOBAL BITCOIN MINING OPERATION
Unrest in the central Asian country – the second-largest center for mining of the cryptocurrency – led to an internet blackout. Within the hours of the outage, bitcoin’s computational power sank. Bitcoin fell below $43,000, testing multi-month lows. The capitalization of the digital asset decreased to $816 billion, according to CoinGecko.
THE PHILIPPINES TO LOOSEN RESTRICTIONS ON FOREIGN RETAILERS
President Rodrigo Duterte has signed into law a measure that would further open up the Philippine retail sector to more foreign retail businesses by lowering their required paid-up capital.
Under the new law, a foreign retailer shall have a minimum paid-up capital of PHP25 million. The current law sets the required capital at USD2.5 million or PHP119.67 million.
ROBLOX PAUSES SERVICE IN CHINA
On December 8, Roblox’s Chinese version LuoBuLeSi, published and operated by Tencent, abruptly closed down its server five months after it launched on iOS and Android.
What users had been playing was in fact an “archive-deleting test version,” LuoBuLeSi said in a notice. Developers claim ‘important transitory actions’ must be conducted.
H&M OPENS 3D STORE IN METAVERSE
It will be possible to pay for digital clothes using the digital currency of the metaverse — CEEK. In the future, the brand plans to launch the possibility of paying for its goods in real stores using this coin. Later, buyers will be able to order the virtual shirts or jeans they bought in a real physical embodiment.
CHINA’S DIGITAL CURRENCY COMES WECHAT
Tencent-owned WeChat, China’s largest messaging app and one of the country’s biggest payment services, will begin supporting the digital yuan.
The People’s Bank of China teaming up with WeChat means there are potentially more than 1 billion users who could use the digital currency, providing a potential boost for the e-CNY.
PAYPAL IS CONSIDERING LAUNCHING ITS OWN CRYPTOCOIN
PayPal is reportedly considering launching its own cryptocurrency backed by the US dollar as the venerable online payment company continues to integrate ways to engage with digital coins on its platforms.
The company is just exploring the idea of releasing its own stablecoin, a cryptocurrency backed by and linked in value to an existing currency.
SIGNAL HAS QUIETLY ROLLED OUT A NEW PAYMENTS SYSTEM
The messenger adds a cryptocurrency-powered payment system. Now, users of the encrypted instant messaging app around the world can transfer their money using a privacy-focused cryptocurrency called MobileCoin.
Right now, MobileCoin is only available on two exchanges - BitFinex and FTX, Wired claims, and both of those are off-limits for US citizens.
INDIA HITS GOOGLE WITH ANTITRUST INVESTIGATION OVER ALLEGED ABUSE IN NEWS AGGREGATION
India’s antitrust watchdog has ordered an investigation into Google following complaints from news publishers who allege that the search giant is “abusing” its dominance in news aggregation to impose unfair conditions on the outlets.
Google takes part of the revenue from traffic and advertising, which should be owed to the creators of content, and not to an intermediary between the creators of content and its consumers.
FRANCE FINES GOOGLE AND FACEBOOK OVER COOKIES
Data privacy watchdog the CNIL said both sites were making it difficult for internet users to refuse the online trackers.
INSTAGRAM IS TESTING PRIVATE LIKES ON STORIES WITH SELECT USERS
Instagram has started testing private likes on Stories as part of a limited test. The Meta-owned company confirmed that the feature is not broadly available and is currently only visible to a small group of people globally. The company also explained that only the person who has posted the Story can see the total number of likes and that there aren’t any plans to make the like count public.
INVESTORS ESTIMATED OPENSEA NFT MARKETPLACE AT $13.3 BILLION
NFT-marketplace OpenSea has completed a Series C of financing and raised $300 million. This time, investors valued the service several times more expensive than in the previous round.
OpenSea is one of the largest players in the NFT market. For comparison, the trading volume on it in 2021 just exceeded $ 13 billion.